Lufax is well-positioned to benefit from China's recent stimulus policies, with significant business connections and expertise in offering business loans. The company's recent quarterly report shows improved delinquency rates, a substantial increase in new loans, and a 24.1% rise in cumulative borrowers. Despite a decrease in net income, LU's solid balance sheet and undervaluation suggest significant room for stock price improvement, with a target price of $12 per ADS.

Lufax Holding Ltd (NYSE:LU ) Q3 2024 Results Conference Call October 21, 2024 9:00 PM ET Company Participants Xinyan Liu - Head of Board Office and Capital Markets Yong Suk Cho - Co-CEO & Chairman of the Board Peiqing Zhu - Chief Financial Officer Conference Call Participants Betty Li - CLSA Judy Zhang - Citi Yada Li - CICC Operator Ladies and gentlemen, thank you for standing by, and welcome to the Lufax Holding Third Quarter 2024 Earnings Call. [Operator Instructions] After the management's prepared remarks, we will have a Q&A session.

Major Chinese stocks listed in the U.S. showed mixed results in recent trading, with the Nasdaq Golden Dragon China Index (HXC) closing down 2.37%. Notable gainers included Taiwan Semiconductor Manufacturing Company (TSM), which rose 2.09%, and Futu Holdings (FUTU, Financial), which saw an impressive increase of 8.81%.

Lufax's Q2 net loss and interim dividend omission were disappointing, but LU is expected to resume dividend payouts and deliver positive earnings in fiscal 2025. LU's strategic pivot towards the 100% guarantee business model and consumer finance loans have yielded decent results, considering the take rate improvement and consumer finance loans' strong growth. My Buy rating for Lufax remains intact, taking into account the potential turnaround next year and the significant progress made with its strategic pivot.

Lufax Holding Ltd (NYSE:LU ) Q2 2024 Results Conference Call August 21, 2024 9:00 PM ET Company Participants Xinyan Liu - Head of Board Office and Capital Markets Yong Suk Cho - Co-CEO & Chairman of the Board Peiqing Zhu - Chief Financial Officer Conference Call Participants Emma Xu - Bank of America Securities Yada Li - CICC Operator Ladies and gentlemen, thank you for standing by, and welcome to the Lufax Holding Second Quarter 2024 Earnings Call. [Operator Instructions] Please note, this event is being recorded.

Lufax Holding (NYSE: LU ) just reported results for the second quarter of 2024. Lufax Holding reported earnings per share of -19 cents.

SHANGHAI , Aug. 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 second quarter ended June 30, 2024. Second Quarter 2024 & First Half 2024 Financial Highlights Total income was RMB5,976 million (US$822 million) in the second quarter of 2024, compared to RMB9,270 million in the same period of 2023.

SHANGHAI , Aug. 16, 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 that it plans to release its second quarter 2024 financial results after the market closes on Wednesday, August 21, 2024, U.S. Eastern Time. The Company's management will hold an earnings conference call at 9:00 P.M.

Two Chinese companies, Lufax Holdings and DouYu, recently announced special dividends that yielded 50% for shareholders who held immediately after the payouts were announced. The Lufax special dividend has already been paid. The DouYu special hasn't been paid and is not ex-dividend yet. Although the stock has responded to the dividend announcement, the forward yield is still over 50%.

SHANGHAI , April 23, 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 that it will hold an annual general meeting of the Company's shareholders (the "AGM") at 10:00 a.m. Hong Kong time on May 30, 2024 at Room 3601, No.