Lufax Holding (LU) Q3 2026 earnings summary

Executive summary

• Q3 total income fell 4.6% YoY to CNY 6.180B; net loss widened to CNY 1.494B from CNY 380M, reflecting higher credit impairment losses and income tax expense.

• New loan sales rose 2.5% YoY to CNY 58.3B, led by 25.2% growth in consumer finance lending.

Financial highlights

• Total expenses rose 1.7% YoY to CNY 6.901B; credit impairment losses increased 10.3% to CNY 4.511B.

• Expenses excluding credit impairment losses, finance costs, and other gains or losses declined 13.4% YoY to CNY 2.262B.

• Income tax expense rose to CNY 773M from CNY 74M; basic and diluted loss per ADS were CNY 1.78, versus CNY 0.50 in Q3 2025.

Outlook and guidance

• Management plans to remain prudent, prioritize quality growth, and continue selective customer acquisition amid tighter standardization and near-term pressure on growth and profitability.

• Management expects collection-enforcement-related risk volatility to be temporary, though macro and regulatory effects could persist toward year-end.

• Asset quality is expected to improve gradually through portfolio optimization, enhanced post-loan measures, and AI-enabled risk models.

• Funding availability is expected to remain sufficient, supported by license advantages and stable funding-partner relationships.