LU 0001193125-24-240015 6-K Filing: Oct 21, 2024

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OFFOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of October 2024

Commission File Number 001-39654

Lufax Holding Ltd

(Registrant’s name)

BuildingNo. 6

Lane 2777, Jinxiu East Road

Pudong New District, Shanghai

People’s Republic of China

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ☒ Form 40-F ☐

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Lufax Holding Ltd
	By:	/s/ Alston Peiqing Zhu
	Name:	Alston Peiqing Zhu
	Title:	Chief Financial Officer
Date: October 21, 2024

Exhibit Index

Exhibit 99.1—Press Release—Lufax Reports Third Quarter 2024 Financial Results

Exhibit 99.2—Announcement with The Stock Exchange of Hong Kong Limited—(1) Inside Information Unaudited Financial Results for the Quarter Ended September 30, 2024 and (2) No Change in the Advice of the Lufax Independent Financial Adviser

EX-99.1

Exhibit 99.1

Lufax Reports Third Quarter 2024 Financial Results

SHANGHAI, October 21, 2024 — 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<br>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<br>RMB131 million in the same period of 2023.
---	---
(In millions except percentages, unaudited)	Three Months Ended September 30,
---	---	---	---	---	---	---	---	---	---	---	---
	2023			2024					YoY
	RMB			RMB
Total income		8,050			5,543					(31.1	%)
Total expenses		(7,747	)		(6,262	)		)		(19.2	%)
Total expenses excluding credit impairment losses, finance costs and other (gains)/losses		(4,650	)		(2,982	)		)		(35.9	%)
Credit impairment losses, finance costs and other (gains)/losses		(3,097	)		(3,279	)		)		5.9	%
Net profit/(loss)		131			(725	)		)		(653.7	%)

All values are in US Dollars.

Third Quarter 2024 Operational Highlights

•	Total outstanding balance of loans was RMB213.1 billion as of September 30, 2024 compared to<br>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<br>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<br>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%.<br>
---	---
•	Cumulative number of borrowers increased by 24.1% to approximately 24.8 million as of September 30,<br>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<br>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<br>majority.
---	---
•	As of September 30, 2024, excluding the consumer finance subsidiary, the Company bore risk on 58.7% of its<br>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<br>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<br>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<br>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<br>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<br>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<br>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.
---	---

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.”

^1^	The take rate of retail credit enablement business is calculated by dividing the aggregated amount of loan<br>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<br>enabled for each period.
^2^	C-M3 flow rate estimates the percentage of current loans that will<br>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<br>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<br>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<br>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<br>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<br>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.<br>
---	---

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<br>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<br>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,<br>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.<br>
---	---
^6^	Lujintong was a platform the company launched in 2019, aiming to help its financial institution partners to<br>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.
---	---

•	Guarantee income was RMB818 million (US$117 million) in the third quarter of 2024, compared to<br>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<br>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<br>RMB253 million in the same period of 2023, mainly due to the increased losses associated with certain investment assets.
---	---

TOTALEXPENSES

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<br>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<br>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<br>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<br>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<br>collection performance.
---	---

•	Technology and analytics expenses decreased by 29.2% to RMB271 million (US$39 million) in the<br>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<br>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<br>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<br>their maturity on September 30, 2023.
---	---
•	Other gains were RMB50 million (US$7 million) in the third quarter of 2024, compared to other<br>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: [email protected]

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				RMB			RMB
Technology platform-based income		3,259,370			1,633,073				12,345,440			6,184,965
Net interest income		3,307,385			2,686,933				10,022,932			8,247,873
Guarantee income		940,803			817,591				3,506,208			2,592,991
Other income		291,132			332,811				828,764			969,594
Investment income		252,599			72,988				697,606			488,645
Share of net profits of investments accounted for using the equity method		(817	)		—				(2,404	)		(691	)	)
Total income	****	8,050,472	****	****	5,543,396	****	****	****	27,398,546	****	****	18,483,377	****	****
Sales and marketing expenses		(2,290,403	)		(1,147,502	)	)		(7,860,523	)		(4,037,137	)	)
General and administrative expenses		(499,899	)		(467,692	)	)		(1,749,315	)		(1,460,891	)	)
Operation and servicing expenses		(1,477,852	)		(1,096,418	)	)		(4,611,878	)		(3,751,090	)	)
Technology and analytics expenses		(382,161	)		(270,713	)	)		(1,067,777	)		(798,446	)	)
Credit impairment losses		(3,001,108	)		(3,270,214	)	)		(9,130,614	)		(8,691,786	)	)
Finance costs		(39,960	)		(59,492	)	)		(364,248	)		(130,897	)	)
Other gains/(losses) - net		(55,794	)		50,279				117,062			(248,711	)	)
Total expenses	****	(7,747,177	)	****	(6,261,752	)	)	****	(24,667,293	)	****	(19,118,958	)	)
Profit before income tax expenses	****	303,295	****	****	(718,356	)	)	****	2,731,253	****	****	(635,581	)	)
Income tax expenses		(172,322	)		(6,898	)	)		(864,292	)		(1,649,625	)	)
Net profit/(loss) for the period	****	130,973	****	****	(725,254	)	)	****	1,866,961	****	****	(2,285,206	)	)
Net profit/(loss) attributable to:
Owners of the Group		93,778			(874,806	)	)		1,731,103			(2,537,341	)	)
Non-controlling interests		37,195			149,552				135,858			252,135
Net profit/(loss) for the period	****	130,973	****	****	(725,254	)	)	****	1,866,961	****	****	(2,285,206	)	)
Earnings per share
-Basic earnings/(loss) per share		0.08			(0.56	)	)		1.51			(1.98	)	)
-Diluted earnings/(loss) per share		0.08			(0.56	)	)		1.51			(1.98	)	)
-Basic earnings/(loss) per ADS		0.16			(1.12	)	)		3.02			(3.96	)	)
-Diluted earnings/(loss) per ADS		0.16			(1.12	)	)		3.02			(3.96	)	)

All values are in US Dollars.

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
Assets
Cash at bank		39,598,785			27,038,935
Restricted cash		11,145,838			11,677,686
Financial assets at fair value through profit or loss		28,892,604			30,782,221
Financial assets at fair value through other comprehensive income		—			1,280,826
Financial assets at amortized cost		3,011,570			2,588,882
Accounts and other receivables and contract assets		7,293,671			4,535,535
Loans to customers		129,693,954			111,370,640
Deferred tax assets		5,572,042			5,980,096
Property and equipment		180,310			142,849
Investments accounted for using the equity method		2,609			—
Intangible assets		874,919			988,869
Right-of-use<br>assets		400,900			318,535
Goodwill		8,911,445			9,168,623
Other assets		1,444,362			575,413
Total assets		237,023,009			206,449,110
Liabilities
Payable to platform users		985,761			782,008
Borrowings		38,823,284			41,380,262
Customer deposits		—			3,446,018
Current income tax liabilities		782,096			765,850
Accounts and other payables and contract liabilities		6,977,118			6,049,571
Payable to investors of consolidated structured entities		83,264,738			55,667,639
Financing guarantee liabilities		4,185,532			3,660,024
Deferred tax liabilities		524,064			395,651
Lease liabilities		386,694			319,161
Convertible promissory note payable		5,650,268			5,895,520
Other liabilities		1,759,672			1,747,155
Total liabilities		143,339,227			120,108,859
Equity
Share capital		75			117
Share premium		32,142,233			27,025,375
Treasury shares		(5,642,768	)		(5,642,768	)	)
Other reserves		155,849			214,461
Retained earnings		65,487,099			62,949,758
Total equity attributable to owners of the Company		92,142,488			84,546,943
Non-controlling interests		1,541,294			1,793,308
Total equity		93,683,782			86,340,251
Total liabilities and equity		237,023,009			206,449,110

All values are in US Dollars.

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				RMB			RMB
Net cash generated from/(used in) operating activities		5,057,374			503,690				10,338,153			4,003,836
Net cash (used in)/generated from investing activities		(3,712,218	)		(1,872,440	)	)		(1,876,727	)		649,607
Net cash (used in) financing activities		(8,053,741	)		(8,969,996	)	)		(19,675,057	)		(13,159,057	)	)
Effects of exchange rate changes on cash and cash equivalents		77,757			(94,812	)	)		504,849			(9,495	)	)
Net (decrease)/increase in cash and cash equivalents		(6,630,828	)		(10,433,558	)	)		(10,708,782	)		(8,515,109	)	)
Cash and cash equivalents at the beginning of the period		25,459,557			20,398,545				29,537,511			18,480,096
Cash and cash equivalents at the end of the<br>period^1^		18,828,729			9,964,987				18,828,729			9,964,987

All values are in US Dollars.

^1^

As of September 30, 2024, the Company held RMB9,965 million (US$1,420 million) of cash and cash<br>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<br>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).

EX-99.2

Exhibit 99.2

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make norepresentation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

LOGO

Lufax Holding Ltd

陆金所控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 6623)

(NYSEStock Ticker: LU)

(1) INSIDE INFORMATION

UNAUDITED FINANCIAL RESULTS FOR THE

QUARTER ENDED SEPTEMBER 30, 2024

AND

(2) NO CHANGE IN THEADVICE OF THE LUFAX INDEPENDENT

FINANCIAL ADVISER

This announcement is issued pursuant to Rule 13.09 of the Rules Governing the Listing of the Securities on The Stock Exchange of Hong Kong Limited and under Part XIVA of the Securities and Futures Ordinance (Cap. 571).

Lufax Holding Ltd (the “Company”, together with its subsidiaries and consolidated affiliated entities, the “Group”) is pleased to announce the unaudited condensed consolidated results of the Company and its subsidiaries and consolidated affiliated entities for the three months ended September 30, 2024.

The Company is pleased to announce the unaudited condensed consolidated results of the Company and its subsidiaries and consolidated affiliated entities for the three months ended September 30, 2024 (the “Q3 Results”) published in accordance with applicable rules of the U.S. Securities and Exchange Commission (the “SEC”).

The Q3 Results have been prepared in accordance with the International Financial Reporting Standards. Attached hereto as Schedule I is the full text of the press release issued by the Company on October 21, 2024 (U.S. Eastern Time), in relation to the Q3 Results, some of which may constitute material inside information of the Company.

BASIS OF PREPARATION

The Q3 Results were prepared on a basis consistent in all material respects with the accounting policies normally adopted by the Group as set out in the audited consolidated financial statements of the Group for the year ended December 31, 2023.

TAKEOVERS CODE IMPLICATIONS

References are made to the composite document jointly published by the Company and the Offeror Group dated September 27, 2024 in relation to, among others, the Lufax Offers (the “Composite Document”). Unless the context requires otherwise, capitalized terms used herein shall have the **** same meanings as those defined in the Composite Document.

This announcement is made during the Offer Period. Pursuant to Rule 10 of the Takeovers Code, the Group’s unaudited net profit/(loss) and unaudited net profit/(loss) attributable to owners of the Group for the three months ended September 30, 2024 constitute a profit forecast (the “Estimate”) and would need to be reported on by each of the financial adviser(s) and auditor(s) of the Company in accordance with Rule 10.1 and Rule 10.2 of the Takeovers Code.

The Estimate has been reported on by PricewaterhouseCoopers (the “PwC”), the auditor of the Company, and Anglo Chinese Corporate Finance, Limited, the independent financial adviser to the Company (the “Lufax Independent Financial Adviser”).

PwC has reported that, so far as the accounting policies and calculations are concerned, the directors of Company (the “Directors”) have properly compiled the Estimate in accordance with the bases adopted by the directors and as to whether the Estimate is presented on a basis consistent in all material respects with the accounting policies normally adopted by the Group as set out in the audited consolidated financial statements of the Group for the year ended December 31, 2023. PwC has conducted their work in accordance with Hong Kong Standard on Investment Circular Reporting Engagements 500, Reporting on Profit Forecasts, Statements of Sufficiency of Working Capital and Statements of Indebtedness) and with reference to Hong Kong Standard on Assurance Engagements 3000 (Revised), Assurance Engagements Other Than Audits or Reviews of Historical Financial Information issued by the Hong Kong Institute of Certified Public Accountants.

The Lufax Independent Financial Adviser is satisfied that the Estimate, for which the Directors are solely responsible, has been made by the Directors with due care and consideration.

The letters issued by PwC and the Lufax Independent Financial Adviser have been lodged with the Executive and the text of which are set out in Schedules II and III to this announcement, respectively. Each of PwC and the Lufax Independent Financial Adviser has given and has not withdrawn their consent to the issue of this announcement with the inclusion of its letter and references to use its name in the form and context in which they appear in this announcement. The Estimate has been reported on in accordance with Rule 10 of the Takeovers Code.

NO CHANGE IN THE ADVICE OF THE LUFAX INDEPENDENT FINANCIAL ADVISER IN RELATION TO THE LUFAX OFFERS

As disclosed in the Composite Document, the Lufax Independent Financial Adviser had been appointed for the purpose of advising the Lufax Independent Board Committee in relation to the Lufax Offers.

The Lufax Independent Financial Adviser had opined that the Lufax Share Offers, Lufax Option Offer, and Lufax PSU Arrangement are not fair and not reasonable so far as the Lufax Shareholders, Lufax ADS Holders, Lufax Optionholders, and Lufax PSU Holders are concerned. The Lufax Independent Financial Adviser has advised the Lufax Independent Board Committee to recommend that holders of the respective securities not accept their offers or arrangements.

The Lufax Independent Financial Adviser has confirmed to the Lufax Independent Board Committee that the information contained in this announcement does not affect its advice in relation to the Lufax Offers and its recommendation of not accepting the respective offers or arrangement under the Lufax Offers as set out in the section headed “Letter from the Lufax Independent Financial Adviser” in the Composite Document, and accordingly, there is no change in its advice.

WARNINGS:

This announcement contains forward-lookingstatements. 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 theCompany’s beliefs and expectations, are forward-looking statements. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends, which involve known orunknown 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 the Company’sgoals and strategies; the Company’s future business development, financial condition and results of operations; expected changes in the Company’s income, expenses or expenditures; expected growth of the retail credit enablement; theCompany’s expectations regarding demand for, and market acceptance of, its services; the Company’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 the Company operates in. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and otherrisks is included in the Company’s filings with the SEC and the Stock Exchange. All information provided in this announcement is as of the date of this announcement, and the Company does not undertake any obligation to update anyforward-looking statement, except as required under applicable law.

The Company’s shareholders and potential investors are advised not to place undue reliance on the Q3Results and to exercise caution in dealing in securities of the Company, especially when assessing the merits and demerits of the mandatory general offer, and if they are in any doubt about their position, they should consult their professionaladviser(s).

By order of the Board
Lufax Holding Ltd
Yong Suk CHO
Chairman of the Board and Chief Executive Officer

Hong Kong, October 21, 2024

As at the date of this announcement, the board of Directors of the Company comprises Mr. Yong Suk CHO and Mr. Gregory Dean GIBB as the executiveDirectors, Mr. Yonglin XIE, Ms. Xin FU and Mr. Yuqiang HUANG as the non-executive Directors and, Mr. Rusheng YANG, Mr. Weidong LI, Mr. Xudong ZHANG and Mr. David Xianglin LIas the independent non-executive Directors.

The Directors jointly and severally accept full responsibilityfor the accuracy of the information contained in this announcement and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and carefulconsideration and there are no other facts not contained in this announcement, the omission of which would make any statements in this announcement misleading.

SCHEDULE I

Lufax Reports Third Quarter 2024 Financial Results

SHANGHAI, October 21, 2024 － 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<br>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<br>RMB131 million in the same period of 2023.
---	---
(In millions except percentages, unaudited)	Three Months Ended September 30,
---	---	---	---	---	---	---	---	---	---	---	---
	2023			2024					YoY
	RMB			RMB
Total income		8,050		****	5,543	****		****		(31.1	%)
Total expenses		(7,747	)	****	(6,262	)		)		(19.2	%)
Total expenses excluding credit impairment losses, finance costs and other (gains)/losses		(4,650	)	****	(2,982	)		)		(35.9	%)
Credit impairment losses, finance costs and other (gains)/losses		(3,097	)	****	(3,279	)		)		5.9	%
Net profit/(loss)		131		****	(725	)		)		(653.7	%)

All values are in US Dollars.

Third Quarter 2024 Operational Highlights

•	Total outstanding balance of loans was RMB213.1 billion as of September 30, 2024 compared to<br>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<br>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<br>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%.<br>
---	---
•	Cumulative number of borrowers increased by 24.1% to approximately 24.8 million as of September 30,<br>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<br>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<br>majority.
---	---
•	As of September 30, 2024, excluding the consumer finance subsidiary, the Company bore risk on 58.7% of its<br>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<br>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<br>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^<br>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<br>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<br>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<br>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<br>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<br>enabled for each period.
---	---
2	C-M3 flow rate estimates the percentage of current loans that will<br>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<br>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<br>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<br>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<br>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<br>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.<br>
---	---

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%.

(In millions except percentages, unaudited)	Three Months Ended September 30,
	2023						2024					YoY
	RMB			% ofincome			RMB		% ofincome
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<br>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<br>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,<br>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.<br>
---	---
•	Guarantee income was RMB818 million (US$117 million) in the third quarter of 2024, compared to<br>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<br>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<br>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<br>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

(In millions except percentages, unaudited)	Three Months Ended September 30,
	2023					2024						YoY
	RMB		% ofincome			RMB			% ofincome
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<br>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<br>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<br>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<br>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<br>collection performance.
---	---
•	Technology and analytics expenses decreased by 29.2% to RMB271 million (US$39 million) in the<br>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<br>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<br>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<br>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<br>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

Conference Call Information

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

Exchange Rate Information

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: [email protected]

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				RMB			RMB
Technology platform-based income		3,259,370		****	1,633,073	****	****		12,345,440		****	6,184,965	****	****
Net interest income		3,307,385		****	2,686,933	****	****		10,022,932		****	8,247,873	****	****
Guarantee income		940,803		****	817,591	****	****		3,506,208		****	2,592,991	****	****
Other income		291,132		****	332,811	****	****		828,764		****	969,594	****	****
Investment income		252,599		****	72,988	****	****		697,606		****	488,645	****	****
Share of net profits of investments accounted for using the equity method		(817	)	****	—	****	****		(2,404	)	****	(691	)	)
Total income		8,050,472		****	5,543,396	****	****		27,398,546		****	18,483,377	****	****
Sales and marketing expenses		(2,290,403	)	****	(1,147,502	)	)		(7,860,523	)	****	(4,037,137	)	)
General and administrative expenses		(499,899	)	****	(467,692	)	)		(1,749,315	)	****	(1,460,891	)	)
Operation and servicing expenses		(1,477,852	)	****	(1,096,418	)	)		(4,611,878	)	****	(3,751,090	)	)
Technology and analytics expenses		(382,161	)	****	(270,713	)	)		(1,067,777	)	****	(798,446	)	)
Credit impairment losses		(3,001,108	)	****	(3,270,214	)	)		(9,130,614	)	****	(8,691,786	)	)
Finance costs		(39,960	)	****	(59,492	)	)		(364,248	)	****	(130,897	)	)
Other gains/(losses) – net		(55,794	)	****	50,279	****	****		117,062		****	(248,711	)	)
Total expenses		(7,747,177	)	****	(6,261,752	)	)		(24,667,293	)	****	(19,118,958	)	)
Profit before income tax expenses		303,295		****	(718,356	)	)		2,731,253		****	(635,581	)	)
Income tax expenses		(172,322	)	****	(6,898	)	)		(864,292	)	****	(1,649,625	)	)
Net profit/(loss) for the period		130,973		****	(725,254	)	)		1,866,961		****	(2,285,206	)	)
Net profit/(loss) attributable to:
Owners of the Group		93,778		****	(874,806	)	)		1,731,103		****	(2,537,341	)	)
Non-controlling interests		37,195		****	149,552	****	****		135,858		****	252,135	****	****
Net profit/(loss) for the period		130,973		****	(725,254	)	)		1,866,961		****	(2,285,206	)	)
Earnings per share
– Basic earnings/(loss) per share		0.08		****	(0.56	)	)		1.51		****	(1.98	)	)
– Diluted earnings/(loss) per share		0.08		****	(0.56	)	)		1.51		****	(1.98	)	)
– Basic earnings/(loss) per ADS		0.16		****	(1.12	)	)		3.02		****	(3.96	)	)
– Diluted earnings/(loss) per ADS		0.16		****	(1.12	)	)		3.02		****	(3.96	)	)

All values are in US Dollars.

LUFAX HOLDING LTD

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF

FINANCIAL POSITION

(Allamounts in thousands, except share data, or otherwise noted)

	As of<br>December 31,		As of September 30,
	2023		2024
	RMB		RMB
Assets
Cash at bank		39,598,785	****	27,038,935
Restricted cash		11,145,838	****	11,677,686
Financial assets at fair value through profit or loss		28,892,604	****	30,782,221
Financial assets at fair value through other comprehensive income		—	****	1,280,826
Financial assets at amortized cost		3,011,570	****	2,588,882
Accounts and other receivables and contract assets		7,293,671	****	4,535,535
Loans to customers		129,693,954	****	111,370,640
Deferred tax assets		5,572,042	****	5,980,096
Property and equipment		180,310	****	142,849
Investments accounted for using the equity method		2,609	****	—
Intangible assets		874,919	****	988,869
Right-of-use<br>assets		400,900	****	318,535
Goodwill		8,911,445	****	9,168,623
Other assets		1,444,362	****	575,413
Total assets		237,023,009	****	206,449,110
Liabilities
Payable to platform users		985,761	****	782,008
Borrowings		38,823,284	****	41,380,262
Customer deposits		—	****	3,446,018
Current income tax liabilities		782,096	****	765,850
Accounts and other payables and contract liabilities		6,977,118	****	6,049,571
Payable to investors of consolidated structured entities		83,264,738	****	55,667,639
Financing guarantee liabilities		4,185,532	****	3,660,024
Deferred tax liabilities		524,064	****	395,651
Lease liabilities		386,694	****	319,161
Convertible promissory note payable		5,650,268	****	5,895,520
Other liabilities		1,759,672	****	1,747,155
Total liabilities		143,339,227	****	120,108,859

All values are in US Dollars.

	As of<br>December 31,			As of September 30,
	2023			2024
	RMB			RMB
Equity
Share capital		75		****	117	****	****
Share premium		32,142,233		****	27,025,375	****	****
Treasury shares		(5,642,768	)	****	(5,642,768	)	)
Other reserves		155,849		****	214,461	****	****
Retained earnings		65,487,099		****	62,949,758	****	****
Total equity attributable to owners of the Company		92,142,488		****	84,546,943	****	****
Non-controlling interests		1,541,294		****	1,793,308	****	****
Total equity		93,683,782		****	86,340,251	****	****
Total liabilities and equity		237,023,009		****	206,449,110	****	****

All values are in US Dollars.

LUFAX HOLDING LTD

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF

CASH FLOWS

(All amountsin thousands, except share data, or otherwise noted)

	Three Months Ended September 30,							Nine Months Ended September 30,
	2023			2024				2023			2024
	RMB			RMB				RMB			RMB
Net cash generated from/(used in) operating activities		5,057,374		****	503,690	****	****		10,338,153		****	4,003,836	****	****
Net cash (used in)/generated from investing activities		(3,712,218	)	****	(1,872,440	)	)		(1,876,727	)	****	649,607	****	****
Net cash (used in) financing activities		(8,053,741	)	****	(8,969,996	)	)		(19,675,057	)	****	(13,159,057	)	)
Effects of exchange rate changes on cash and cash equivalents		77,757		****	(94,812	)	)		504,849		****	(9,495	)	)
Net (decrease)/increase in cash and cash equivalents		(6,630,828	)	****	(10,433,558	)	)		(10,708,782	)	****	(8,515,109	)	)
Cash and cash equivalents at the beginning of the period		25,459,557		****	20,398,545	****	****		29,537,511		****	18,480,096	****	****
Cash and cash equivalents at the end of the<br>period^1^		18,828,729		****	9,964,987	****	****		18,828,729		****	9,964,987	****	****

All values are in US Dollars.

SCHEDULE II

Letter on the Estimate issued by PricewaterhouseCoopers

The following is the text of a letter received from PricewaterhouseCoopers, Certified Public Accountants, Hong Kong, for the purpose of incorporation inthis announcement.

The Board of Directors

Lufax Holding Ltd

21 October 2024

Dear Sirs,

Lufax Holding Ltd (the “Company”)

Estimatefor Period Ended 30 September 2024

We refer to the estimate of the consolidated loss attributable to owners of the Company for the period ended 30 September 2024 (the “Estimate”) set forth in the announcement of the Company dated 21 October 2024 (the “Announcement”). The Company and its subsidiaries and consolidated affiliated entities collectively referred to as the “Group”.

We have been advised by the directors of the Company that the Estimate was prepared based on the unaudited condensed consolidated management accounts of the Group for the three months ended 30 September 2024, which had been prepared on a basis consistent in all material respects with the accounting policies normally adopted by the Group as set out in the audited consolidated financial statements of the Group for the year ended 31 December 2023 which conform with IFRS Accounting Standards issued by the International Accounting Standards Board (the “IASB”).

The Estimate is prepared by the directors of the Company and constitutes a profit forecast under Rule 10 of the Code on Takeovers and Mergers issued by the Securities and Futures Commission.

Directors’ Responsibilities

The Estimate has been prepared by the directors of the Company based on the unaudited condensed consolidated results as shown on the unaudited condensed consolidated management accounts of the Group for the three months ended 30 September 2024.

The Company’s directors are solely responsible for the Estimate.

PricewaterhouseCoopers, 22/F Prince’s Building, Central, Hong Kong SAR, China

T: +852 2289 8888, F: +852 2810 9888, www.pwchk.com

Our Independence and Quality Management

We have complied with the independence and other ethical requirements of the Code of Ethics for Professional Accountants issued by the Hong Kong Institute of Certified Public Accountants (“HKICPA”), which is founded on fundamental principles of integrity, objectivity, professional competence and due care, confidentiality and professional behaviour.

Our firm applies Hong Kong Standard on Quality Management (“HKSQM”) 1, Quality Management for Firms that Perform Audits or Reviews ofFinancial Statements, or Other Assurance or Related Services Engagements, issued by the HKICPA, which requires the firm to design, implement and operate a system of quality management including policies or procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements.

Reporting Accountant’s Responsibilities

Our responsibility is to express an opinion on the accounting policies and calculations of the Estimate based on our procedures.

We conducted our engagement in accordance with Hong Kong Standard on Investment Circular Reporting Engagements 500, Reporting on Profit Forecasts,Statements of Sufficiency of Working Capital and Statements of Indebtedness and with reference to Hong Kong Standard on Assurance Engagements 3000 (Revised), Assurance Engagements Other Than Audits or Reviews of Historical FinancialInformation issued by the HKICPA. Those standards require that we plan and perform our work to obtain reasonable assurance as to whether, so far as the accounting policies and calculations are concerned, the Company’s directors have properly compiled the Estimate in accordance with the bases adopted by the directors and as to whether the Estimate is presented on a basis consistent in all material respects with the accounting policies normally adopted by the Group. Our work is substantially less in scope than an audit conducted in accordance with Hong Kong Standards on Auditing issued by the HKICPA. Accordingly, we do not express an audit opinion.

Opinion

In our opinion, so far as the accounting policies and calculations are concerned, the Estimate has been properly compiled in accordance with the bases adopted by the directors as set out in the Announcement and is presented on a basis consistent in all material respects with the accounting policies normally adopted by the Group as set out in the audited consolidated financial statements of the Group for the year ended 31 December 2023.

Yours faithfully,

PricewaterhouseCoopers

Certified Public Accountants

Hong Kong

SCHEDULE III

Comfort Letter issued by Anglo Chinese Corporate Finance, Limited

LOGO

21 October 2024

The Board of Directors

Lufax Holding Ltd (the “Company” and together with its subsidiaries, the “Group”)

Dear Sirs,

We refer to (i) the composite document issued by the Company dated 27 September 2024 (the “Composite Document”); and (ii) the announcement of the unaudited financial results for the third quarter ended 30 September 2024 issued by the Company dated 21 October 2024 (the “Third Quarter Financial Results Announcement”). Capitalised terms used in this letter shall have **** the same meanings as those defined in the Composite Document and the Third Quarter Financial Results Announcement, unless the context requires otherwise.

The unaudited net loss and unaudited net loss attributable to owners of the Group for the three months ended 30 September 2024 (the “Estimate”) contained in the Third Quarter Financial Results Announcement represents a profit forecast under Rule 10 of the Hong Kong Code on Takeovers and Mergers (the “Takeovers Code”). As such, the Estimate is required to be reported in accordance with Rule 10 of the Takeovers Code.

We have reviewed and discussed with the Company the basis upon which the Estimate was prepared. The Estimate was prepared by the directors of the Company (the “Directors”) based on the unaudited consolidated results of the Group for the three months ended 30 September 2024, as shown in the management accounts of the Group for the same period. These management accounts have not been audited or reviewed by the Company’s auditors, PricewaterhouseCoopers (the “Auditor”).

We have also considered the letter dated 21 October 2024 issued by the Auditor to you (the text of which is set out in Schedule II to the Third Quarter Financial Results Announcement) and which stated that so far as the accounting policies and calculations are concerned, the Estimate has been properly compiled in accordance with the bases adopted by the Directors and is presented on a basis consistent in all material respects with the accounting policies normally adopted by the Group as set out in the audited consolidated financial statements of the Company for the year ended 31 December 2023.

We have not verified and have no reason to doubt the truth, accuracy or completeness of the information provided to us by the senior management of the Company and have been advised by them that, to the best of their knowledge, no material information has been omitted or withheld from the information supplied to us.

Based on the above, we are satisfied that the Estimate, for which the Directors are solely responsible for, has been prepared by the Directors with due care and consideration.

Yours faithfully,

For and on behalf of

AngloChinese Corporate Finance, Limited

Stephen Clark	Alex Wang
Managing Director	Assistant Director

LU 6-K