LUFAX (06623.HK): Q3 net loss seen at RMB1.3-1.7bn
- The Company expects a net loss of RMB1,300 million to RMB1,700 million for the three months ended 30 September 2026, after a RMB694 million net loss in H1 2026.
- The wider loss stems from an operating loss from higher credit impairment, lower deferred tax assets, and the adjusted funding plan after the An Ke Technology notes were redeemed.
NewTimeSpace News: On 16 October 2026, Lufax Holding Ltd (stock code: 06623.HK; NYSE: LU) issued a profit warning under Listing Rule 13.09 and Part XIVA of the SFO, expecting a net loss of RMB1,300 million to RMB1,700 million for the three months ended 30 September 2026; it recorded a net loss of about RMB694 million in the first half of 2026.
The Board attributed the wider third-quarter loss to three factors: an operating loss mainly from higher credit impairment losses; expected additional tax expense from lower deferred tax assets at its financing guarantee subsidiaries; and an adjusted funding plan after the An Ke Technology convertible promissory notes were redeemed at maturity, under which PRC subsidiaries are expected to pay dividends to offshore subsidiaries, causing further additional tax expense. The figures rest on a preliminary assessment, have not been reviewed by the audit committee or auditors and may be adjusted; the third-quarter results are still being prepared.
