LUFAX (06623.HK): Fulfils All Resumption Guidance; Shares to Resume Trading on 24 September

NewTimeSpace News: On 23 September 2026, Lufax Holding Ltd (stock code: 06623) announced that it has fulfilled all resumption guidance issued by The Stock Exchange of Hong Kong and applied for its shares to resume trading from 9:00 a.m. on 24 September 2026. Trading in the shares has been suspended since 9:00 a.m. on 28 January 2025, and the exchange issued the resumption guidance on 21 March 2025 and a modified version on 24 April 2026.

The announcement disclosed the key findings of the independent investigation: among the mentioned transactions, Transaction 1 (transfer of loan receivable assets to a bank) and Transaction 2 (investment in trusts established by a trust company) were interrelated as part of a series of arrangements to acquire certain assets from connected persons of the Company, constituting connected transactions under Chapter 14A of the Listing Rules without sufficient authorisation and documentation, while Transaction 3 was neither part of the series nor a connected transaction and was duly authorised and documented. The investigation also found that from June 2017 to January 2023 the Company provided aggregate loans of RMB3.84 billion to DeCheng Investment through a series of loan and refinancing arrangements, and that from October 2021 to July 2025 certain employees claimed hospitality expenses of approximately RMB77.9 million through Zhongshi, with the practice terminated.

Remedial measures include rectifying internal control deficiencies, entering into a repayment arrangement with Lufunds, consolidating Zhongshi and Jiayun Hua'ao into the Company's financial statements, terminating the relevant agency arrangements, restating the consolidated financial statements for 2022 and 2023, revamping the board and corporate governance structure, and taking disciplinary action against responsible personnel. As at the date of the announcement, the Company has published all outstanding financial results, with EY issuing unqualified audit opinions on its financial statements for 2024 and 2025. Deloitte Consulting completed the internal control review and confirmed that all identified issues have been fully addressed through remediation, and Ping An Group has given an irrevocable undertaking not to interfere with the Group's independent governance, confirming compliance annually.

The Group is principally engaged in core retail credit facilitation and consumer finance businesses, recording total revenue of approximately RMB27.1 billion for 2025 and maintaining total assets of approximately RMB202.7 billion as at 30 June 2026, with business operations remaining normal in all material respects. The board considers that all resumption guidance items have been fulfilled; the exchange's permission for resumption does not prevent it from continuing to investigate any potential breach of the Listing Rules or taking disciplinary action, and shareholders and potential investors are advised to exercise caution when dealing in the Company's securities.

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