FAST NEWS: Lufax’s profit tanks as new lending plummets
The latest: Lufax Holding Ltd. (LU.US; 6623.HK), the largest of China’s private online loan facilitators, reported its revenue fell 41.8% to 10.08 billion yuan ($1.44 billion) in the first quarter,…
LU.US
6623.HK
FAST NEWS: Lufax jumps after announcing plans for second listing in Hong Kong
The latest: Lufax Holding Ltd. (LU.US), the largest of China’s private online loan facilitators, announced Tuesday that it will be listed on the Hong Kong Stock Exchange on Friday “by way of…
LU.US
360 DigiTech’s mediocre dividends, unexciting growth leave investors uninspired
The online loan facilitator is struggling to maintain steady dividends as its net profit declines on faltering revenue growth Key Takeaways: 360 DigiTech kept its dividend steady in last year’s…
3660.HK
QFIN.US
FAST NEWS: Lufax swings to loss as new lending tumbles
The latest: Lufax Holding Ltd. (LU.US), the largest of China’s private online loan facilitators, reported its revenue fell 22% to 12.32 billion yuan ($1.79 billion) in the fourth quarter, while…
LU.US
Fintech Lufax Seeks Dual Listing as Pandemic Hits Profits
Ping An-backed Lufax has applied to have its shares traded in Hong Kong as well as the U.S., following in the footsteps of dual-listed fintech firms OneConnect and 360 DigiTechKey…
Stuck in Covid-Induced Hardship, Lufax Loan Portfolio Shrinks for First Time
The online loan facilitator is bearing more credit risk as its use of third parties to insure and guarantee the loans it brokers becomes costlierKey Takeaways:Lufax’s revenue and profit fell…
ZhongAn Moves Further Out of Parental Shadow as Tencent Cuts Stake
Two of the digital insurer’s three big-name parents have trimmed their stakes recently, highlighting the need for company to grow independently Key takeaways: • Tencent reduced its stake in ZhongAn…
