Investors unimpressed by massive dividend from shrinking Lufax
The online lender’s American depositary shares rose by just $1.11 in the two days after it announced a special dividend of $2.42 per ADS Key Takeaways: Lufax announced a massive…
Lufax takes on more risk, makes Hong Kong acquisition, as its lending shrivels
The online loan facilitator’s revenue plunged 39% in the third quarter, as its loan delinquency rates rose sharply from a year earlier Key Takeaways: Lufax’s new loan originations fell 59%…
Linklogis deconstructed by China’s slumping property market
Supply chain financing assets processed over the company’s key platforms fell in the nine months to September as real estate companies’ troubles deepened Key Takeaways: The total volume of supply…
Online lenders cool as China’s economic rebound wobbles
Lufax, Qifu and FinVolution face difficulties growing while also managing risk in a slowing economy, their latest quarterly results show Key Takeaways: Online loan facilitators Lufax and Qifu both reported…
NEWS WRAP: OneConnect’s losses narrow as cost cuts offset revenue decline
The provider of technology products and services to banks and insurers blamed a “lagging” business recovery for its 14% revenue decline in the three months to June By Doug…
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,…
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…