Management ChangeJul 24, 2026, 09:17 AM
Lufax Announces Multiple Board and CFO Resignations
AI Summary
Lufax Holding Ltd announced significant changes to its board and senior management, effective July 25, 2026. Four directors, including CFO Tongzhuan Xi, resigned due to personal work arrangements. The company is actively searching for a new CFO, with duties temporarily assumed by an internal team. Concurrently, Mr. Wai Kin Chim was appointed as an independent non-executive director, and Mr. Xiang Ji was named the new Authorized Representative. The company also provided Q2 2026 operational highlights, showing mixed loan performance and improved delinquency rates, while continuing to work towards resuming trading on the Hong Kong Stock Exchange.
Key Highlights
- CFO Tongzhuan Xi resigned, along with three non-executive directors, effective July 25, 2026.
- Mr. Wai Kin Chim appointed as an independent non-executive director for a three-year term.
- Total outstanding loans decreased 13.5% to RMB167.3 billion as of June 30, 2026.
- Total new loans enabled increased 4.6% to RMB51.1 billion in Q2 2026.
- Cumulative number of borrowers increased 13.1% to 31.4 million as of June 30, 2026.
- DPD 30+ delinquency rate improved to 5.8% as of June 30, 2026, from 6.1% in Q1 2026.
- NPL ratio for consumer finance loans improved to 1.3% as of June 30, 2026.
Price Impact
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