Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

My Favorite China's Brands
News for Outlets

Chinese fintech firm Lufax reports strong H1 financial results

August 11, 2021


Abstract : Lufax Holding Ltd. (Lufax), China's leading retail fintech enterprise, on Tuesday reported its total income of 14.828 billion yuan and net profit of 4.729 billion yuan in the second quarter (Q2) of 2021.

SH night.JPG

Aerial photo taken on Sept. 18, 2019 shows the night view of the Lujiazui area in Shanghai, east China. (Xinhua/Ren Long)

BEIJING, Aug. 11 (Xinhua) -- Lufax Holding Ltd. (Lufax), China's leading retail fintech enterprise, on Tuesday reported its total income of 14.828 billion yuan and net profit of 4.729 billion yuan in the second quarter (Q2) of 2021.

According to the company's unaudited financial results for Q2, the company has beefed up efforts to support small business owners in its retail credit facilitation business, with up to 77.6 percent of new loans disbursed to such entities.

In terms of wealth management, contribution from customers with investment of more than 300,000 yuan increased to 80.2 percent as of June 30, 2021, while legacy products dropped to zero.

During the first half (H1) of this year, Lufax maintained a steady growth, with its total income up 17.1 percent and net profit up 33.4 percent year on year.

Lufax's chairman Ji Guangheng noted that the company will shift its focus from volume growth to quality enhancement, striving for a regulation-based, technology-powered development pattern, to create more social value.

Meanwhile, the company also announced that it will repurchase up to 700 million U.S. dollars worth of American Depositary Shares (ADSs) in the coming 12 months, following its 300 million U.S. dollars share repurchase program authorized in May this year, making the total value of ADSs to a billion U.S. dollars.

(Edited by Li Shimeng with Xinhua Silk Road, lishimeng@xinhua.org)

Scan the QR code and push it to your mobile phone

Keyword: Lufax

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial