SHANGHAI, Oct. 21,
2024 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or
the "Company") (NYSE: LU and HKEX: 6623), a leading financial
services enabler for small business owners in China, today announced its unaudited financial
results for the third quarter ended September 30, 2024.
Third Quarter 2024 Financial Highlights
- Total income was RMB5,543 million
(US$790 million) in the third quarter
of 2024, compared to RMB8,050 million
in the same period of 2023.
- Net loss was RMB725 million
(US$103 million) in the third quarter
of 2024, compared to net profit of RMB131
million in the same period of 2023.
|
(In millions except
percentages, unaudited)
|
Three Months Ended
September 30,
|
|
|
|
2023
|
|
2024
|
|
YoY
|
|
RMB
|
|
RMB
|
USD
|
|
|
|
Total income
|
8,050
|
|
5,543
|
790
|
|
(31.1 %)
|
|
Total
expenses
|
(7,747)
|
|
(6,262)
|
(892)
|
|
(19.2 %)
|
|
Total expenses
excluding credit
impairment losses, finance costs and
other (gains)/losses
|
(4,650)
|
|
(2,982)
|
(425)
|
|
(35.9 %)
|
|
Credit impairment
losses, finance costs and
other (gains)/losses
|
(3,097)
|
|
(3,279)
|
(467)
|
|
5.9 %
|
|
Net
profit/(loss)
|
131
|
|
(725)
|
(103)
|
|
(653.7 %)
|
Third Quarter 2024 Operational Highlights
- Total outstanding balance of loans was RMB213.1 billion as of September 30, 2024 compared to RMB366.3 billion as of September 30, 2023, representing a decrease of
41.8%, among which the outstanding balance of consumer finance
loans was RMB46.4 billion as of
September 30, 2024, compared to
RMB36.1 billion as of September 30, 2023, representing an increase of
28.7%.
- Total new loans enabled were RMB50.5
billion in the third quarter of 2024, which remained
flattish compared to RMB50.5 billion
in the same period of 2023, among which new consumer finance loans
were RMB26.4 billion in the third
quarter of 2024, compared to RMB20.6
billion in the same period of 2023, representing an increase
of 27.8%.
- Cumulative number of borrowers increased by 24.1% to
approximately 24.8 million as of September
30, 2024 from approximately 20.0 million as of September 30, 2023.
- As of September 30, 2024,
including the consumer finance subsidiary, the Company bore risk on
64.2% of its outstanding balance, up from 31.8% as of September 30, 2023. Credit enhancement partners
bore risk on the other 35.1% of the outstanding balance, among
which Ping An Property & Casualty Insurance Company of
China, Ltd. accounted for a
majority.
- As of September 30, 2024,
excluding the consumer finance subsidiary, the Company bore risk on
58.7% of its outstanding balance, up from 25.7% as of September 30, 2023.
- For the third quarter of 2024, the Company's retail credit
enablement business take rate[1] based on loan balance
was 9.7%, as compared to 7.8% for the third quarter of 2023.
- C-M3 flow rate[2] for the total loans the Company
had enabled, excluding the consumer finance subsidiary, was 0.9% in
the third quarter of 2024, which is flattish compared to the second
quarter of 2024. Flow rates for the general unsecured loans and
secured loans the Company had enabled were 0.9% and 0.9%
respectively in the third quarter of 2024, as compared to 0.9% and
0.7% respectively in the second quarter of 2024.
- Days past due ("DPD") 30+ delinquency rate[3] for
the total loans the Company had enabled, excluding the consumer
finance subsidiary, was 5.2% as of September
30, 2024, as compared to 5.4% as of June 30, 2024. DPD 30+ delinquency rate for
general unsecured loans was 5.5% as of September 30, 2024, as compared to 5.8% as of
June 30, 2024. DPD 30+ delinquency
rate for secured loans was 4.5% as of September 30, 2024, as compared to 4.1% as of
June 30, 2024.
- DPD 90+ delinquency rate[4] for total loans enabled,
excluding the consumer finance subsidiary, was 3.2% as of
September 30, 2024, as compared to
3.4% as of June 30, 2024. DPD 90+
delinquency rate for general unsecured loans was 3.4% as of
September 30, 2024, as compared to
3.7% as of June 30, 2024. DPD 90+
delinquency rate for secured loans was 2.5% as of September 30, 2024, as compared to 2.5% as of
June 30, 2024.
- As of September 30, 2024, the
non-performing loan (NPL) ratio[5] for consumer finance
loans was 1.2% as compared to 1.4% as of June 30, 2024.
|
[1] The take
rate of retail credit enablement business is calculated by dividing
the aggregated amount of loan enablement service fees,
post-origination service fees, net interest income (excluding
revenue from PAObank and LUAN credit subsidiaries), guarantee
income and the penalty fees and account management fees by the
average outstanding balance of loans enabled for each
period.
|
|
[2] C-M3 flow rate estimates the
percentage of current loans that will become non-performing at the
end of three months, and is defined as the product of (i) the loan
balance that is overdue from 1 to 29 days as a percentage of the
total current loan balance of the previous month, (ii) the loan
balance that is overdue from 30 to 59 days as a percentage of the
loan balance that was overdue from 1 to 29 days in the previous
month, and (iii) the loan balance that is overdue from 60 to 89
days as a percentage of the loan balance that was overdue from 30
days to 59 days in the previous month. Loans from legacy products,
consumer finance subsidiary, PAObank and LUAN credit subsidiaries
are excluded from the flow rate calculation.
|
|
[3] DPD
30+ delinquency rate refers to the outstanding balance of loans for
which any payment is 30 to 179 calendar days past due divided by
the outstanding balance of loans. Loans from legacy products,
consumer finance subsidiary, PAObank and LUAN credit subsidiaries
are excluded from the calculation.
|
|
[4] DPD
90+ delinquency rate refers to the outstanding balance of loans for
which any payment is 90 to 179 calendar days past due divided by
the outstanding balance of loans. Loans from legacy products,
consumer finance subsidiary, PAObank and LUAN credit subsidiaries
are excluded from the calculation.
|
|
[5] Non-performing loan ratio for
consumer finance loans is calculated by using the outstanding
balance of consumer finance loans for which any payment is 91 or
more calendar days past due and not written off, and certain
restructured loans, divided by the outstanding balance of consumer
finance loans.
|
Mr. YongSuk Cho, Chairman and
Chief Executive Officer of Lufax, commented, "During the third
quarter, while Puhui loan demand remained weak, our consumer
finance business continued to grow and delivered a solid
performance. We maintained stable asset quality, with the C-M3 flow
rate of our Puhui loans remaining steady despite declining
balances, while our consumer finance NPL ratio continued to
improve. As we anticipate it will take time for small business
owners to benefit from recent stimulus policies enacted in late
September, we are maintaining a cautious and diligent approach to
our business strategies. In the meantime, we will place additional
emphasis on non-SBO customers and continue to develop our consumer
finance business. This balanced approach, combined with our ongoing
risk management efforts, positions us well to navigate the evolving
landscape while supporting the financial needs of both SBO and
non-SBO customers in China's
dynamic economy."
Mr. Gregory Gibb, Co-Chief
Executive Officer of Lufax, commented, "Our continued focus on
operational refinements has yielded solid results. By maintaining a
prudent approach to credit standards, our C-M3 flow rate of Puhui
loans stabilized at 0.9% and the NPL ratio for consumer finance
loans further decreased to 1.2%. Meanwhile, the ongoing rollout of
our 100% guarantee model for Puhui loans has had a favorable impact
on the take rate of our outstanding balance, which reached 9.7%
this quarter. In addition, our consumer finance business
demonstrated continuous growth, with a 27.8% year-over-year
increase in new loan sales, comprising 52% of total new loan
sales in the quarter. As we strive for sustainable long-term
growth, our vigilant approach and continued operational
enhancements will remain essential."
Mr. Alston Peiqing Zhu, Chief
Financial Officer of Lufax, commented, "During the third quarter,
our two main operating entities maintained their solid capital
positions. Our guarantee subsidiary's leverage ratio stood at 2.6x,
well within the 10x regulatory limit. At the same time, our
consumer finance subsidiary had a healthy 14.9% capital adequacy
ratio, as compared to the 10.5% regulatory requirement. We remain
committed to our prudent strategy as we seek to improve our market
position and drive success for our business and our
shareholders."
Third Quarter 2024 Financial Results
TOTAL INCOME
Total income was RMB5,543 million
(US$790 million) in the third quarter
of 2024, compared to RMB8,050 million
in the same period of 2023, representing a decrease of 31%.
|
Three Months Ended
September 30,
|
|
|
|
(In millions except
percentages,
unaudited)
|
2023
|
|
2024
|
|
YoY
|
|
RMB
|
% of
income
|
|
RMB
|
% of
income
|
|
|
|
Technology
platform-based income
|
3,259
|
40.5 %
|
|
1,633
|
29.5 %
|
|
(49.9 %)
|
|
Net interest
income
|
3,307
|
41.1 %
|
|
2,687
|
48.5 %
|
|
(18.8 %)
|
|
Guarantee
income
|
941
|
11.7 %
|
|
818
|
14.7 %
|
|
(13.1 %)
|
|
Other income
|
291
|
3.6 %
|
|
333
|
6.0 %
|
|
14.3 %
|
|
Investment
income
|
253
|
3.1 %
|
|
73
|
1.3 %
|
|
(71.1 %)
|
|
Share of net profits of
investments
accounted for using the equity method
|
(1)
|
0.0 %
|
|
-
|
-
|
|
100.0 %
|
|
Total income
|
8,050
|
100.0 %
|
|
5,543
|
100.0 %
|
|
(31.1 %)
|
- Technology platform-based income was RMB1,633 million (US$233
million) in the third quarter of 2024, compared to
RMB3,259 million in the same period
of 2023, representing a decrease of 49.9%, due to 1) the decrease
of retail credit service fees as a result of the decrease in loan
balance and 2) the decrease of referral and other technology
platform-based income due to the Company's exit from the
Lujintong[6] business that it had previously
conducted.
- Net interest income was RMB2,687 million (US$383
million) in the third quarter of 2024, compared to
RMB3,307 million in the same period
of 2023, representing a decrease of 18.8%, mainly due to the
decrease in loan balance, partially offset by the increase of net
interest income from the Company's consumer finance business.
- Guarantee income was RMB818 million (US$117
million) in the third quarter of 2024, compared to
RMB941 million in the same period of
2023, representing a decrease of 13.1%, primarily due to a lower
average fee rate.
- Other income was RMB333
million (US$47 million) in the
third quarter of 2024, compared to other income of RMB291 million in the same period of 2023. The
increase was mainly due to the increased account management fees
driven by improved collection performance.
- Investment income was RMB73 million (US$10
million) in the third quarter of 2024, compared to
RMB253 million in the same period of
2023, mainly due to the increased losses associated with certain
investment assets.
|
[6] Lujintong was a platform the
company launched in 2019, aiming to help its financial institution
partners to acquire borrowers directly through dispersed sourcing
nationwide. The company downscaled the operations of Lujintong in
2023 and ceased its operation by the end of April 2024.
|
TOTAL EXPENSES
Total expenses decreased by 19% to RMB6,262 million (US$892 million) in
the third quarter of 2024 from RMB7,747 million in the same period of 2023.
This decrease was mainly due to the decrease in sales and marketing
expenses by 50% to RMB1,148 million (US$164 million) in
the third quarter of 2024 from RMB2,290
million in the same period of 2023. Total expenses excluding
credit impairment losses, finance costs and other (gains)/losses
decreased by 36% to RMB2,982 million (US$425 million) in the third quarter of 2024
from RMB4,650 million in the same
period of 2023.
|
Three Months Ended
September 30,
|
|
|
|
(In millions except
percentages, unaudited)
|
2023
|
|
2024
|
|
YoY
|
|
RMB
|
% of
income
|
|
RMB
|
% of
income
|
|
|
|
Sales and marketing
expenses
|
2,290
|
28.5 %
|
|
1,148
|
20.7 %
|
|
(49.9 %)
|
|
General and
administrative expenses
|
500
|
6.2 %
|
|
468
|
8.4 %
|
|
(6.4 %)
|
|
Operation and servicing
expenses
|
1,478
|
18.4 %
|
|
1,096
|
19.8 %
|
|
(25.8 %)
|
|
Technology and
analytics expenses
|
382
|
4.7 %
|
|
271
|
4.9 %
|
|
(29.2 %)
|
|
Credit impairment
losses
|
3,001
|
37.3 %
|
|
3,270
|
59.0 %
|
|
9.0 %
|
|
Finance
costs
|
40
|
0.5 %
|
|
59
|
1.1 %
|
|
48.9 %
|
|
Other (gains)/losses -
net
|
56
|
0.7 %
|
|
(50)
|
(0.9 %)
|
|
(190.1 %)
|
|
Total
expenses
|
7,747
|
96.2 %
|
|
6,262
|
113.0 %
|
|
(19.2 %)
|
- Sales and marketing expenses decreased by 49.9%
to RMB1,148 million (US$164 million) in the third quarter of 2024 from
RMB2,290 million in the same period
of 2023. The decrease was mainly due to 1) decreased loan-related
expenses as a result of the decrease in loan balance and 2)
decreased retention expenses and referral expenses from platform
service attributable to the Company's exit from the Lujintong
business that it had previously conducted.
- General and administrative expenses decreased by
6.4% to RMB468 million (US$67 million) in the third quarter of 2024 from
RMB500 million in the same period of
2023, mainly due to our efforts to streamline operations and the
decrease of tax and surcharge.
- Operation and servicing expenses decreased by
25.8% to RMB1,096 million
(US$156 million) in the third quarter
of 2024 from RMB1,478 million in the
same period of 2023, due to the Company's expense control measures
and the contraction in our loan balance, partially offset by
increased commissions associated with improved collection
performance.
- Technology and analytics expenses decreased by
29.2% to RMB271 million (US$39 million) in the third quarter of 2024 from
RMB382 million in the same period of
2023, primarily due to the Company's expense control measures.
- Credit impairment losses increased by 9.0% to
RMB3,270 million (US$466 million) in the third quarter of 2024 from
RMB3,001 million in the same period
of 2023, mainly due to increased provision related to loans and
certain investment assets.
- Finance costs increased by 48.9% to RMB59 million (US$8
million) in the third quarter of 2024 from RMB40 million in the same period of 2023, mainly
due to the decrease of interest income from bank deposits,
partially offset by the decrease of interest expenses as a result
of our repayment of our C-Round Convertible Promissory Notes upon
their maturity on September 30,
2023.
- Other gains were RMB50
million (US$7 million) in the
third quarter of 2024, compared to other losses of RMB56 million in the same period of 2023, mainly
due to the increase of government subsidies.
NET LOSS
Net loss was RMB725 million
(US$103 million) in the third quarter
of 2024, compared to a net profit of RMB131
million in the same period of 2023, as a result of the
aforementioned factors.
LOSS PER ADS
Basic and diluted loss per American Depositary Share ("ADS")
were both RMB1.12 (US$0.16) in the third quarter of 2024. Each one
ADS represents two ordinary shares.
BALANCE SHEET
The Company had RMB27,039 million
(US$3,853 million) in cash at bank as
of September 30, 2024, as compared to
RMB39,599 million as of December 31, 2023. Net assets of the Company
amounted to RMB86,340 million
(US$12,303 million) as of
September 30, 2024, as compared to
RMB93,684 million as of December 31, 2023.
Conference Call Information
The Company's management will hold an earnings conference call
at 9:00 P.M. U.S. Eastern Time on
Monday, October 21, 2024
(9:00 A.M. Beijing Time on
Tuesday, October 22, 2024) to discuss
the financial results. For participants who wish to join the call,
please complete online registration using the link provided below
in advance of the conference call. Upon registering, each
participant will receive a set of participant dial-in numbers, the
event passcode, and a unique access PIN, which can be used to join
the conference call.
Registration
Link: https://dpregister.com/sreg/10193712/fdbbe67610
A live and archived webcast of the conference call will also be
available at the Company's investor relations website at
https://ir.lufaxholding.com.
The replay will be accessible through October 28, 2024, by dialing the following
numbers:
|
United
States:
|
1-877-344-7529
|
|
International:
|
1-412-317-0088
|
|
Conference
ID:
|
8154019
|
About Lufax
Lufax is a leading financial services enabler for small business
owners in China. The Company
offers financing products designed to address the needs of small
business owners and others. In doing so, the Company has
established relationships with 85 financial institutions in
China as funding partners, many of
which have worked with the Company for over three years.
Exchange Rate Information
This announcement contains translations of certain RMB amounts
into U.S. dollars at a specified rate solely for the convenience of
the reader. Unless otherwise noted, all translations from RMB to
U.S. dollars are made at a rate of RMB7.0176 to US$1.00, the rate in effect as of September 30, 2024, as certified for customs
purposes by the Federal Reserve Bank of New York.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the
United States Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by terminology
such as "will," "expects," "anticipates," "future," "intends,"
"plans," "believes," "estimates" and similar statements. Statements
that are not historical facts, including statements about Lufax' s
beliefs and expectations, are forward-looking statements. Lufax has
based these forward-looking statements largely on its current
expectations and projections about future events and financial
trends, which involve known or unknown risks, uncertainties and
other factors, all of which are difficult to predict and many of
which are beyond the Company's control. These forward-looking
statements include, but are not limited to, statements about Lufax'
s goals and strategies; Lufax' s future business development,
financial condition and results of operations; expected changes in
Lufax' s income, expenses or expenditures; expected growth of the
retail credit enablement; Lufax' s expectations regarding demand
for, and market acceptance of, its services; Lufax's expectations
regarding its relationship with borrowers, platform investors,
funding sources, product providers and other business partners;
general economic and business conditions; and government policies
and regulations relating to the industry Lufax operates in.
Forward-looking statements involve inherent risks and
uncertainties. Further information regarding these and other risks
is included in Lufax's filings with the U.S. Securities and
Exchange Commission. All information provided in this press release
is as of the date of this press release, and Lufax does not
undertake any obligation to update any forward-looking statement,
except as required under applicable law.
Investor Relations Contact
Lufax Holding Ltd
Email: Investor_Relations@lu.com
ICR, LLC
|
LUFAX HOLDING
LTD
|
|
UNAUDITED INTERIM
CONDENSED CONSOLIDATED INCOME STATEMENTS
|
|
(All amounts
in thousands, except share data, or otherwise noted)
|
|
|
Three Months Ended
September 30,
|
|
Nine Months Ended
September 30,
|
|
2023
|
|
2024
|
|
2023
|
|
2024
|
|
RMB
|
|
RMB
|
|
USD
|
|
RMB
|
|
RMB
|
|
USD
|
|
Technology
platform-based
income
|
3,259,370
|
|
1,633,073
|
|
232,711
|
|
12,345,440
|
|
6,184,965
|
|
881,350
|
|
Net interest
income
|
3,307,385
|
|
2,686,933
|
|
382,885
|
|
10,022,932
|
|
8,247,873
|
|
1,175,313
|
|
Guarantee
income
|
940,803
|
|
817,591
|
|
116,506
|
|
3,506,208
|
|
2,592,991
|
|
369,498
|
|
Other income
|
291,132
|
|
332,811
|
|
47,425
|
|
828,764
|
|
969,594
|
|
138,166
|
|
Investment
income
|
252,599
|
|
72,988
|
|
10,401
|
|
697,606
|
|
488,645
|
|
69,631
|
|
Share of net profits
of
investments accounted for using
the equity method
|
(817)
|
|
-
|
|
-
|
|
(2,404)
|
|
(691)
|
|
(98)
|
|
Total
income
|
8,050,472
|
|
5,543,396
|
|
789,928
|
|
27,398,546
|
|
18,483,377
|
|
2,633,860
|
|
Sales and marketing
expenses
|
(2,290,403)
|
|
(1,147,502)
|
|
(163,518)
|
|
(7,860,523)
|
|
(4,037,137)
|
|
(575,287)
|
|
General and
administrative expenses
|
(499,899)
|
|
(467,692)
|
|
(66,646)
|
|
(1,749,315)
|
|
(1,460,891)
|
|
(208,175)
|
|
Operation and servicing
expenses
|
(1,477,852)
|
|
(1,096,418)
|
|
(156,238)
|
|
(4,611,878)
|
|
(3,751,090)
|
|
(534,526)
|
|
Technology and
analytics expenses
|
(382,161)
|
|
(270,713)
|
|
(38,576)
|
|
(1,067,777)
|
|
(798,446)
|
|
(113,778)
|
|
Credit impairment
losses
|
(3,001,108)
|
|
(3,270,214)
|
|
(466,002)
|
|
(9,130,614)
|
|
(8,691,786)
|
|
(1,238,570)
|
|
Finance
costs
|
(39,960)
|
|
(59,492)
|
|
(8,478)
|
|
(364,248)
|
|
(130,897)
|
|
(18,653)
|
|
Other gains/(losses) -
net
|
(55,794)
|
|
50,279
|
|
7,165
|
|
117,062
|
|
(248,711)
|
|
(35,441)
|
|
Total
expenses
|
(7,747,177)
|
|
(6,261,752)
|
|
(892,293)
|
|
(24,667,293)
|
|
(19,118,958)
|
|
(2,724,430)
|
|
Profit before income
tax
expenses
|
303,295
|
|
(718,356)
|
|
(102,365)
|
|
2,731,253
|
|
(635,581)
|
|
(90,570)
|
|
Income tax
expenses
|
(172,322)
|
|
(6,898)
|
|
(983)
|
|
(864,292)
|
|
(1,649,625)
|
|
(235,070)
|
|
Net profit/(loss)
for the period
|
130,973
|
|
(725,254)
|
|
(103,348)
|
|
1,866,961
|
|
(2,285,206)
|
|
(325,639)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net profit/(loss)
attributable to:
|
|
|
|
|
|
|
|
|
|
|
|
|
Owners of the
Group
|
93,778
|
|
(874,806)
|
|
(124,659)
|
|
1,731,103
|
|
(2,537,341)
|
|
(361,568)
|
|
Non-controlling
interests
|
37,195
|
|
149,552
|
|
21,311
|
|
135,858
|
|
252,135
|
|
35,929
|
|
Net profit/(loss)
for the period
|
130,973
|
|
(725,254)
|
|
(103,348)
|
|
1,866,961
|
|
(2,285,206)
|
|
(325,639)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per
share
|
|
|
|
|
|
|
|
|
|
|
|
|
-Basic earnings/(loss)
per share
|
0.08
|
|
(0.56)
|
|
(0.08)
|
|
1.51
|
|
(1.98)
|
|
(0.28)
|
|
-Diluted
earnings/(loss) per share
|
0.08
|
|
(0.56)
|
|
(0.08)
|
|
1.51
|
|
(1.98)
|
|
(0.28)
|
|
-Basic earnings/(loss)
per ADS
|
0.16
|
|
(1.12)
|
|
(0.16)
|
|
3.02
|
|
(3.96)
|
|
(0.56)
|
|
-Diluted
earnings/(loss) per ADS
|
0.16
|
|
(1.12)
|
|
(0.16)
|
|
3.02
|
|
(3.96)
|
|
(0.56)
|
|
LUFAX HOLDING
LTD
|
|
UNAUDITED INTERIM
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL
POSITION
|
|
(All amounts in
thousands, except share data, or otherwise noted)
|
|
|
As of December
31,
|
|
As of September
30,
|
|
2023
|
|
2024
|
|
RMB
|
|
RMB
|
|
USD
|
|
Assets
|
|
|
|
|
|
|
Cash at bank
|
39,598,785
|
|
27,038,935
|
|
3,853,017
|
|
Restricted
cash
|
11,145,838
|
|
11,677,686
|
|
1,664,057
|
|
Financial assets at
fair value through profit or loss
|
28,892,604
|
|
30,782,221
|
|
4,386,431
|
|
Financial assets at
fair value through other comprehensive income
|
-
|
|
1,280,826
|
|
182,516
|
|
Financial assets at
amortized cost
|
3,011,570
|
|
2,588,882
|
|
368,913
|
|
Accounts and other
receivables and contract assets
|
7,293,671
|
|
4,535,535
|
|
646,309
|
|
Loans to
customers
|
129,693,954
|
|
111,370,640
|
|
15,870,189
|
|
Deferred tax
assets
|
5,572,042
|
|
5,980,096
|
|
852,157
|
|
Property and
equipment
|
180,310
|
|
142,849
|
|
20,356
|
|
Investments accounted
for using the equity method
|
2,609
|
|
-
|
|
-
|
|
Intangible
assets
|
874,919
|
|
988,869
|
|
140,913
|
|
Right-of-use
assets
|
400,900
|
|
318,535
|
|
45,391
|
|
Goodwill
|
8,911,445
|
|
9,168,623
|
|
1,306,518
|
|
Other assets
|
1,444,362
|
|
575,413
|
|
81,996
|
|
Total
assets
|
237,023,009
|
|
206,449,110
|
|
29,418,763
|
|
Liabilities
|
|
|
|
|
|
|
Payable to platform
users
|
985,761
|
|
782,008
|
|
111,435
|
|
Borrowings
|
38,823,284
|
|
41,380,262
|
|
5,896,640
|
|
Customer
deposits
|
-
|
|
3,446,018
|
|
491,054
|
|
Current income tax
liabilities
|
782,096
|
|
765,850
|
|
109,133
|
|
Accounts and other
payables and contract liabilities
|
6,977,118
|
|
6,049,571
|
|
862,057
|
|
Payable to investors of
consolidated structured entities
|
83,264,738
|
|
55,667,639
|
|
7,932,575
|
|
Financing guarantee
liabilities
|
4,185,532
|
|
3,660,024
|
|
521,549
|
|
Deferred tax
liabilities
|
524,064
|
|
395,651
|
|
56,380
|
|
Lease
liabilities
|
386,694
|
|
319,161
|
|
45,480
|
|
Convertible promissory
note payable
|
5,650,268
|
|
5,895,520
|
|
840,105
|
|
Other
liabilities
|
1,759,672
|
|
1,747,155
|
|
248,968
|
|
Total
liabilities
|
143,339,227
|
|
120,108,859
|
|
17,115,375
|
|
Equity
|
|
|
|
|
|
|
Share
capital
|
75
|
|
117
|
|
17
|
|
Share
premium
|
32,142,233
|
|
27,025,375
|
|
3,851,085
|
|
Treasury
shares
|
(5,642,768)
|
|
(5,642,768)
|
|
(804,088)
|
|
Other
reserves
|
155,849
|
|
214,461
|
|
30,560
|
|
Retained
earnings
|
65,487,099
|
|
62,949,758
|
|
8,970,269
|
|
Total equity
attributable to owners of the Company
|
92,142,488
|
|
84,546,943
|
|
12,047,843
|
|
Non-controlling
interests
|
1,541,294
|
|
1,793,308
|
|
255,544
|
|
Total
equity
|
93,683,782
|
|
86,340,251
|
|
12,303,387
|
|
Total liabilities
and equity
|
237,023,009
|
|
206,449,110
|
|
29,418,763
|
|
|
|
|
|
|
|
LUFAX HOLDING
LTD
|
|
UNAUDITED INTERIM
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
|
|
(All amounts in
thousands, except share data, or otherwise noted)
|
|
|
Three Months Ended
September 30,
|
|
Nine Months Ended
September 30,
|
|
2023
|
|
2024
|
|
2023
|
|
2024
|
|
RMB
|
|
RMB
|
|
USD
|
|
RMB
|
|
RMB
|
|
USD
|
|
Net cash generated
from/(used in)
operating activities
|
5,057,374
|
|
503,690
|
|
71,775
|
|
10,338,153
|
|
4,003,836
|
|
570,542
|
|
Net cash (used
in)/generated from
investing activities
|
(3,712,218)
|
|
(1,872,440)
|
|
(266,821)
|
|
(1,876,727)
|
|
649,607
|
|
92,568
|
|
Net cash (used in)
financing activities
|
(8,053,741)
|
|
(8,969,996)
|
|
(1,278,214)
|
|
(19,675,057)
|
|
(13,159,057)
|
|
(1,875,151)
|
|
Effects of exchange
rate changes on
cash and cash equivalents
|
77,757
|
|
(94,812)
|
|
(13,511)
|
|
504,849
|
|
(9,495)
|
|
(1,353)
|
|
Net
(decrease)/increase in cash and
cash equivalents
|
(6,630,828)
|
|
(10,433,558)
|
|
(1,486,770)
|
|
(10,708,782)
|
|
(8,515,109)
|
|
(1,213,393)
|
|
Cash and cash
equivalents at the
beginning of the period
|
25,459,557
|
|
20,398,545
|
|
2,906,769
|
|
29,537,511
|
|
18,480,096
|
|
2,633,393
|
|
Cash and cash
equivalents at the end
of the period[1]
|
18,828,729
|
|
9,964,987
|
|
1,419,999
|
|
18,828,729
|
|
9,964,987
|
|
1,419,999
|
|
|
[1] As of
September 30, 2024, the Company held RMB9,965 million (US$1,420
million) of cash and cash equivalents and RMB27,039 million
(US$3,853 million)
of cash at bank. The difference between these two amounts, which is
RMB17,074 million (US$2,433 million), is due to time deposits with
original maturities
of more than three months amounting to RMB17,079 million
(US$2,434 million), and is offset by the provision for impairment
losses of cash at bank amounting
to RMB5 million (US$1 million).
|
View original
content:https://www.prnewswire.com/news-releases/lufax-reports-third-quarter-2024-financial-results-302281562.html
SOURCE Lufax Holding Ltd