SHANGHAI, March 12,
2023 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or
the "Company") (NYSE: LU), a leading financial services enabler for
small business owners in China,
today announced its unaudited financial results for the fourth
quarter and full year ended December 31,
2022.
Fourth Quarter 2022 Financial Highlights
- Total income decreased by 22.2% to RMB12,318 million (US$1,786 million) in the fourth quarter of 2022
from RMB15,831 million in the same
period of 2021.
- Net loss was RMB806 million
(US$117 million) in the fourth
quarter of 2022, compared to net profit of RMB2,896 million in the same period of 2021.
(In millions
except percentages, unaudited)
|
Three Months
Ended
December 31,
|
|
|
|
Twelve Months
Ended
December 31,
|
|
|
|
2021
|
|
2022
|
|
YoY
|
|
2021
|
|
2022
|
|
YoY
|
|
RMB
|
|
RMB
|
USD
|
|
|
|
RMB
|
|
RMB
|
USD
|
|
|
Total income
|
15,831
|
|
12,318
|
1,786
|
|
(22.2 %)
|
|
61,835
|
|
58,116
|
8,426
|
|
(6.0 %)
|
Total
expenses
|
(11,492)
|
|
(12,922)
|
(1,874)
|
|
12.4 %
|
|
(38,435)
|
|
(45,102)
|
(6,539)
|
|
17.3 %
|
Total expenses
excluding credit and asset impairment losses,
financial costs and other gains/(losses) - net
|
(8,302)
|
|
(6,574)
|
(953)
|
|
(20.8 %)
|
|
(30,194)
|
|
(26,889)
|
(3,899)
|
|
(10.9 %)
|
Credit and
asset impairment losses
|
(3,222)
|
|
(6,266)
|
(908)
|
|
94.5 %
|
|
(7,745)
|
|
(16,978)
|
(2,462)
|
|
119.2 %
|
Financial
costs and other gains/(losses) - net
|
32
|
|
(82)
|
(12)
|
|
(356.3 %)
|
|
(496)
|
|
(1,236)
|
(179)
|
|
149.2 %
|
Net
profit/(loss)
|
2,896
|
|
(806)
|
(117)
|
|
(127.8 %)
|
|
16,709
|
|
8,775
|
1,272
|
|
(47.5 %)
|
Fourth Quarter 2022 Operational Highlights
- Outstanding balance of loans enabled decreased by 12.8% to
RMB576.5 billion as of December 31, 2022 from RMB661.0 billion as of December 31, 2021.
- Cumulative number of borrowers increased by 12.9% to
approximately 19.0 million as of December
31, 2022 from approximately 16.8 million as of December 31, 2021.
- New loans enabled decreased by 48.7% to RMB77.8 billion in the fourth quarter of 2022
from RMB151.6 billion in the same
period of 2021.
- During the fourth quarter of 2022, excluding the consumer
finance subsidiary, the Company bore risk on 22.2% of its new loans
enabled, up from 20.8% in the same period of 2021.
- As of December 31, 2022,
including the consumer finance subsidiary, the Company bore risk on
23.5% of its outstanding balance, up from 16.6% as of December 31, 2021. Credit enhancement partners
bore risk on 72.6% of outstanding balance, among which Ping An
P&C accounted for a majority.
- For the fourth quarter of 2022, the Company's retail credit
enablement business take rate[1] based on loan balance
was 7.7%, as compared to 9.0% for the fourth quarter of 2021.
- C-M3 flow rate[2] for the total loans the Company
had enabled was 1.0% in the fourth quarter of 2022, as compared to
0.8% in the third quarter of 2022. Flow rates for the general
unsecured loans and secured loans the Company had enabled were 1.1%
and 0.6%, respectively, in the fourth quarter of 2022, as compared
to 0.9% and 0.4%, respectively, in the third quarter of 2022.
- Days past due ("DPD") 30+ delinquency
rate[3] for the total loans the Company had enabled
was 4.6% as of December 31, 2022, as
compared to 3.6% as of September 30,
2022. DPD 30+ delinquency rate for general unsecured loans
was 5.2% as of December 31, 2022, as
compared to 4.2% as of September 30,
2022. DPD 30+ delinquency rate for secured loans was 2.6% as
of December 31, 2022, as compared to
1.6% as of September 30, 2022.
- DPD 90+ delinquency rate[4] for the total loans
enabled was 2.6% as of December 31,
2022, as compared to 2.1% as of September 30, 2022. DPD 90+ delinquency rate for
general unsecured loans was 3.0% as of December 31, 2022, as compared to 2.4% as of
September 30, 2022. DPD 90+
delinquency rate for secured loans was 1.2% as of December 31, 2022, as compared to 0.9% as of
September 30, 2022.
Mr. YongSuk Cho, Chairman and
Chief Executive Officer of Lufax, commented, "Operating conditions
in the fourth quarter were especially challenging, with the adverse
macroeconomic environment particularly impacting our core SMB
customers. We responded by optimizing our operations to be more
agile and efficient, and by prioritizing asset quality over growth
through more stringent customer selection. Our focus also includes
optimizing credit enhancement approaches to provide further support
to our operating margins and business sustainability in the medium
term. At the same time, we continued to grow our consumer finance
business. As a result, our outstanding balance of consumer finance
loans grew from RMB3.6 billion as of
December 31, 2020 to RMB29.7 billion as of December 31, 2022, and our number of borrowers
with outstanding consumer finance loans increased from 168,000 as
of December 31, 2020 to 1.3 million
as of December 31, 2022. While there
remain uncertainties ahead, we see signs of the green shoots of
recovery, heightening our confidence in an economic upturn in the
quarters to come. Boosted by this macro backdrop, an increasingly
stabilized regulatory environment, and our strong capital position,
we remain confident that our upgraded strategy and resilient
business model will drive our U-shaped recovery and deliver
long-term shareholder value."
Mr. Gregory Gibb, Co-Chief
Executive Officer of Lufax, commented, "Macro-related headwinds
drove a spike in credit impairment losses, adversely impacting our
fourth quarter results. We continued executing on our
geographically differentiated strategy, focusing on those regions
demonstrating more economic resilience, and realizing a greater
contribution in new loan volumes from these regions. At the same
time, we further strengthened our business model by enhancing
efficiencies, optimizing our channel mix, and fine-tuning our sales
force. Furthermore, in addition to the joint credit enhancement
model where we provide credit enhancement together with our
partners, we engaged fruitfully with some of our funding partners
regarding the implementation of a more optimized risk-bearing model
where our guarantee company provides full provision of credit
enhancement. Our recently launched SBO ecosystem is generating
promising growth momentum, with 130,000 C-end customers and
120,000 B-end customers at the end of
2022, and a five-fold growth in registered customers in the first
two months of this year. While significant uncertainty remains as
to the pace of macroeconomic revival, we are confident of our
U-shaped recovery in the medium term. During this process, we will
patiently wait for rejuvenation of the SMB sector, prudently
implement new risk strategies, entrench lessons learned during the
pandemic, and be fully prepared to capture new business as the
economy rebounds. Finally, to deliver greater value to our
shareholders and thank them for their continued support, we will
distribute a cash dividend for the second half of 2022."
Mr. David Choy, Chief Financial
Officer of Lufax, commented, "As macro volatilities and
uncertainties persisted, we forged ahead with strategic initiatives
to strengthen our business model and optimize costs. Bolstered by
these efforts, in the fourth quarter of 2022, we successfully
reduced our operating-related expenses by 20.8% on a year-over-year
basis. Our balance sheet remains solid, with our cash at bank
balance increasing year over year to RMB43.9
billion. Furthermore, liquid assets maturing in 90 days or
less amounted to RMB49.9 billion as
of December 31, 2022. Our guarantee
subsidiary had net assets of RMB47.9
billion and its leverage ratio remained steady at 2.0x as of
the end of December 2022, compared to
a regulatory allowance of 10x, providing us with ample operational
flexibility. Looking ahead, we remain confident in the resilience
of our business model and our ability to create greater sustainable
value for our shareholders."
Fourth Quarter 2022 Financial Results
TOTAL INCOME
Total income decreased by 22.2% to RMB12,318 million (US$1,786 million) in the fourth quarter of 2022
from RMB15,831 million in the same
period of 2021. The Company's total income mix changed with the
evolution of its business model, as it gradually bore more credit
risk.
|
Three Months Ended
December 31,
|
|
|
(In millions
except percentages, unaudited)
|
2021
|
|
2022
|
|
YoY
|
|
RMB
|
% of
income
|
|
RMB
|
% of
income
|
|
|
Technology
platform-based income
|
8,836
|
55.8 %
|
|
5,874
|
47.7 %
|
|
(33.5 %)
|
Net interest
income
|
4,234
|
26.7 %
|
|
4,369
|
35.5 %
|
|
3.2 %
|
Guarantee
income
|
1,635
|
10.3 %
|
|
1,671
|
13.6 %
|
|
2.2 %
|
Other income
|
769
|
4.9 %
|
|
131
|
1.1 %
|
|
(83.0 %)
|
Investment
income
|
359
|
2.3 %
|
|
275
|
2.1 %
|
|
(23.4 %)
|
Share of net profits of
investments accounted for using the equity method
|
(2)
|
0.0 %
|
|
(2)
|
0.0 %
|
|
0.0 %
|
Total income
|
15,831
|
100.0 %
|
|
12,318
|
100.0 %
|
|
(22.2 %)
|
- Technology platform-based income decreased by
33.5% to RMB5,874 million
(US$852 million) in the fourth
quarter of 2022 from RMB8,836 million
in the same period of 2021 due to 1) the decrease of retail credit
service fees driven by the decrease in new loan sales and a lower
take rate and 2) the decrease of
referral and other technology platform-based income driven by the
decrease in transaction volume.
- Net interest income increased by 3.2% to
RMB4,369 million (US$633 million) in the fourth quarter of 2022
from RMB4,234 million in the same
period of 2021, mainly due to the increase in consumer finance
loans, partially offset by the decrease in net interest income from
trust plans.
- Guarantee income increased by 2.2% to
RMB1,671 million (US$242 million) in the fourth quarter of 2022
from RMB1,635 million in the same
period of 2021, primarily due to the increase in the loans for
which the Company bore credit risk.
- Other income was RMB131
million (US$19 million) in the
fourth quarter of 2022, compared to RMB769
million in the same period of 2021, mainly due to the change
of fee structure that the Company charged to its primary credit
enhancement partner.
- Investment income decreased to RMB275 million (US$40
million) in the fourth quarter of 2022 from RMB359 million in the same period of 2021, mainly
due to the decrease of investment assets.
TOTAL EXPENSES
Total expenses increased by 12.4% to RMB12,922 million (US$1,874 million) in the fourth quarter of
2022 from RMB11,492 million in the
same period of 2021. This increase was mainly driven by credit
impairment losses, since credit impairment losses increased by
147.1% to RMB6,259 million
(US$907 million) in the fourth
quarter of 2022 from RMB2,533 million
in the same period of 2021. Total expenses excluding credit
impairment losses, asset impairment losses, finance costs and other
(gains)/losses decreased by 20.8% to RMB6,574 million (US$953
million) in the fourth quarter of 2022 from
RMB8,302 million in the same period
of 2021.
|
Three Months Ended
December 31,
|
|
|
(In millions
except percentages, unaudited)
|
2021
|
|
2022
|
|
YoY
|
|
RMB
|
% of
income
|
|
RMB
|
% of
income
|
|
|
Sales and marketing
expenses
|
4,835
|
30.5 %
|
|
3,706
|
30.1 %
|
|
(23.4 %)
|
General and
administrative expenses
|
971
|
6.1 %
|
|
750
|
6.1 %
|
|
(22.8 %)
|
Operation and servicing
expenses
|
1,900
|
12.0 %
|
|
1,659
|
13.5 %
|
|
(12.7 %)
|
Technology and
analytics expenses
|
597
|
3.8 %
|
|
458
|
3.7 %
|
|
(23.3 %)
|
Credit impairment
losses
|
2,533
|
16.0 %
|
|
6,259
|
50.8 %
|
|
147.1 %
|
Asset impairment
losses
|
689
|
4.4 %
|
|
7
|
0.1 %
|
|
(99.0 %)
|
Finance
costs
|
267
|
1.7 %
|
|
501
|
4.1 %
|
|
87.6 %
|
Other (gains)/losses -
net
|
(300)
|
(1.9 %)
|
|
(419)
|
(3.4 %)
|
|
39.7 %
|
Total
expenses
|
11,492
|
72.6 %
|
|
12,922
|
105.0 %
|
|
12.4 %
|
- Sales and marketing expenses decreased by 23.4%
to RMB3,706 million (US$537 million) in the fourth quarter of 2022
from RMB4,835 million in the same
period of 2021. The decrease was mainly due to 1) decreased new
loan sales and reductions in commissions; 2) decreased investor
acquisition and retention expenses and referral expenses from
platform service driven by decreased transaction volume, and 3)
decreased general sales and marketing expenses driven by the
decrease in new loan sales.
- General and administrative expenses decreased by
22.8% to RMB750 million (US$109 million) in the fourth quarter of 2022
from RMB971 million in the same
period of 2021 as a result of decreased personnel expenses.
- Operation and servicing expenses decreased by
12.7% to RMB1,659 million
(US$241 million) in the fourth
quarter of 2022 from RMB1,900 million
in the same period of 2021, primarily due to the Company's expense
control measures and decrease of loan balance and new loan
sales.
- Technology and analytics expenses decreased by
23.3% to RMB458 million (US$66 million) in the fourth quarter of 2022 from
RMB597 million in the same period of
2021 as a result of the Company's improved efficiency.
- Credit impairment losses increased by 147.1% to
RMB6,259 million (US$907 million) in the fourth quarter of 2022
from RMB2,533 million in the same
period of 2021, mainly driven by the increase of provision and
indemnity losses as a result of 1) increased risk exposure,
resulting from the Company, including the consumer finance
subsidiary, bearing risk on 23.5% of its outstanding balance as of
December 31, 2022, up from 16.6% as
of December 31, 2021, and 2)
worsening credit performance due in large part to the challenging
macroeconomic environment.
- Asset impairment losses decreased by 99.0% to
RMB7 million (US$1 million) in the fourth quarter of 2022 from
RMB689 million in the same period of
2021, mainly due to the higher base of impairment loss in the
fourth quarter of 2021 driven by impairment loss of intangible
assets.
- Finance costs increased by 87.6% to RMB501 million (US$73
million) in the fourth quarter of 2022 from RMB267 million in the same period of 2021, mainly
due to interest costs related to early repayment of Ping An group convertible notes.
- Other gains were RMB419
million (US$61 million) in the
fourth quarter of 2022, compared to RMB300
million in the same period of 2021, mainly due to the
increase in government subsidies.
[1] The take rate
of retail credit enablement business is calculated by dividing the
aggregated amount of loan enablement service fees, post-origination
service fees, net interest income, guarantee income and the penalty
fees and account management fees by the average outstanding balance
of loans enabled for each period.
|
[2] Flow rate
estimates the percentage of current loans that will become
non-performing at the end of three months, and is defined as the
product of (i) the loan balance that is overdue from 1 to 29 days
as a percentage of the total current loan balance of the previous
month, (ii) the loan balance that is overdue from 30 to 59 days as
a percentage of the loan balance that was overdue from 1 to 29 days
in the previous month, and (iii) the loan balance that is overdue
from 60 to 89 days as a percentage of the loan balance that was
overdue from 30 days to 59 days in the previous month. Loans from
legacy products and consumer finance subsidiary are excluded from
the flow rate calculation.
|
[3] DPD 30+
delinquency rate refers to the outstanding balance of loans for
which any payment is 30 to 179 calendar days past due divided by
the outstanding balance of loans. Loans from legacy products and
consumer finance subsidiary are excluded from the
calculation.
|
[4] DPD 90+
delinquency rate refers to the outstanding balance of loans for
which any payment is 90 to 179 calendar days past due divided by
the outstanding balance of loans. Loans from legacy products and
consumer finance subsidiary are excluded from the
calculation.
|
NET LOSS
Net loss was RMB806 million
(US$117 million) in the fourth
quarter of 2022, compared to net profit of RMB2,896 million in the same period of 2021,
driven by the aforementioned factors.
LOSS PER ADS
Basic and diluted loss per
American Depositary Share ("ADS") were both RMB0.36 (US$0.05)
in the fourth quarter of 2022.
BALANCE SHEET
The Company had RMB43,882 million
(US$6,362 million) in cash at bank as
of December 31, 2022, as compared to
RMB34,743 million as of December 31, 2021. Net assets of the Company
amounted to RMB94,787 million
(US$13,743 million) as of
December 31, 2022, as compared to
RMB94,559 million as of December 31, 2021.
Recent DevelopmentsÂ
Change in Semi-Annual Dividend Policy
The Company's board of directors (the "Board") has approved a
revised semi-annual cash dividend policy to replace its existing
dividend policy. Under the revised dividend policy, starting from
2023, the Company will declare and distribute a recurring cash
dividend semi-annually in which the aggregate amount of the
semi-annual dividend distributions for each year is equivalent to
approximately 20% to 40% of the Company's net profit in such fiscal
year, or as otherwise authorized by the Board. The determination to
make dividend distributions and the exact amount of such
distributions in any particular semi-annual period will be based
upon the Company's operations and earnings, cash flow, financial
condition, and other relevant factors, and subject to adjustment
and determination by the Board.
Declaration of Semi-Annual Dividend
The Board has approved a cash dividend of US$0.10 per ordinary share for the six-month
period ended December 31, 2022, on
the Company's outstanding shares to shareholders of record as of
the close of trading on the New York Stock Exchange on April 7, 2023. Holders of ADSs, each two ADSs
representing one ordinary share, will accordingly be entitled to a
cash dividend of US$0.05 per ADS,
subject to the payment of applicable depositary fees. The
depositary, Citibank, N.A., will distribute the dividend to holders
of ADSs on or about April 21,
2023.
Conference Call Information
The Company's management will hold an earnings conference call
at 9:00 P.M. U.S. Eastern Time on
Sunday, March 12, 2023 (9:00 A.M. Beijing Time on Monday, March 13, 2023) to discuss the financial
results. For participants who wish to join the call, please
complete online registration using the link provided below in
advance of the conference call. Upon registering, each participant
will receive a set of participant dial-in numbers, the Direct Event
passcode, and a unique access PIN, which can be used to join the
conference call.
Registration
Link: https://www.netroadshow.com/events/login?show=9fbea766&confId=48030
A replay of the conference call will be accessible through
March 20, 2023 (dial-in numbers: +1
(866) 813-9403 or +1 (929) 458-6194; replay access code: 569250). A
live and archived webcast of the conference call will also be
available at the Company's investor relations website at
https://ir.lufaxholding.com.
About Lufax
Lufax Holding Ltd is a leading financial services enabler for
small business owners in China.
The Company offers tailor-made financing products to small business
owners and other high-quality borrowers to address their large
unmet needs. In doing so, the Company has established relationships
with over 550 financial institutions in China, many of which have worked with the
Company for over three years. These financial institutions provide
funding and credit enhancement for the loans the Company enables as
well as other products to enrich the small business owner ecosystem
that the Company is creating.
Exchange Rate Information
This announcement contains translations of certain RMB amounts
into U.S. dollars at a specified rate solely for the convenience of
the reader. Unless otherwise noted, all translations from RMB to
U.S. dollars are made at a rate of RMB6.8972 to US$1.00, the rate in effect as of December 31, 2022, as certified for customs
purposes by the Federal Reserve Bank of New York.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the
United States Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by terminology
such as "will," "expects," "anticipates," "future," "intends,"
"plans," "believes," "estimates" and similar statements. Statements
that are not historical facts, including statements about Lufax's
beliefs and expectations, are forward-looking statements. Lufax has
based these forward-looking statements largely on its current
expectations and projections about future events and financial
trends, which involve known or unknown risks, uncertainties and
other factors, all of which are difficult to predict and many of
which are beyond the Company's control. These forward-looking
statements include, but are not limited to, statements about
Lufax's goals and strategies; Lufax's future business development,
financial condition and results of operations; expected changes in
Lufax's income, expenses or expenditures; expected growth of the
retail credit enablement; Lufax's expectations regarding demand
for, and market acceptance of, its services; Lufax's expectations
regarding its relationship with borrowers, platform investors,
funding sources, product providers and other business partners;
general economic and business conditions; and government policies
and regulations relating to the industry Lufax operates in.
Forward-looking statements involve inherent risks and
uncertainties. Further information regarding these and other risks
is included in Lufax's filings with the U.S. Securities and
Exchange Commission. All information provided in this press release
is as of the date of this press release, and Lufax does not
undertake any obligation to update any forward-looking statement,
except as required under applicable law.
Investor Relations Contact
Lufax Holding Ltd
Email: Investor_Relations@lu.com
ICR, LLC
Robin Yang
Tel: +1 (646) 308-0546
Email: lufax.ir@icrinc
LUFAX HOLDING
LTD
|
UNAUDITED INTERIM
CONDENSED CONSOLIDATED INCOME STATEMENTS
|
(All amounts in
thousands, except share data, or otherwise noted)
|
|
|
|
|
|
|
|
|
|
Three Months Ended
December 31,
|
|
Twelve Months Ended
December 31,
|
|
2021
|
|
2022
|
|
2021
|
|
2022
|
|
RMB
|
|
RMB
|
|
USD
|
|
RMB
|
|
RMB
|
|
USD
|
Technology
platform-based income
|
8,836,164
|
|
5,874,337
|
|
851,699
|
|
38,294,317
|
|
29,218,432
|
|
4,236,274
|
Net interest
income
|
4,234,114
|
|
4,369,470
|
|
633,514
|
|
14,174,231
|
|
18,981,376
|
|
2,752,041
|
Guarantee
income
|
1,634,938
|
|
1,670,743
|
|
242,235
|
|
4,370,342
|
|
7,372,509
|
|
1,068,913
|
Other income
|
769,097
|
|
130,927
|
|
18,983
|
|
3,875,407
|
|
1,238,004
|
|
179,494
|
Investment
income
|
358,866
|
|
274,594
|
|
39,812
|
|
1,151,753
|
|
1,305,625
|
|
189,298
|
Share of net profits of
investments accounted for
using the equity method
|
(1,725)
|
|
(1,733)
|
|
(251)
|
|
(31,143)
|
|
(218)
|
|
(32)
|
Total
income
|
15,831,454
|
|
12,318,338
|
|
1,785,991
|
|
61,834,907
|
|
58,115,728
|
|
8,425,989
|
Sales and marketing
expenses
|
(4,834,811)
|
|
(3,706,378)
|
|
(537,374)
|
|
(17,993,072)
|
|
(15,756,916)
|
|
(2,284,538)
|
General and
administrative expenses
|
(970,864)
|
|
(750,422)
|
|
(108,801)
|
|
(3,559,323)
|
|
(2,830,119)
|
|
(410,329)
|
Operation and servicing
expenses
|
(1,899,665)
|
|
(1,659,300)
|
|
(240,576)
|
|
(6,557,595)
|
|
(6,429,862)
|
|
(932,242)
|
Technology and
analytics expenses
|
(596,647)
|
|
(457,569)
|
|
(66,341)
|
|
(2,083,994)
|
|
(1,872,454)
|
|
(271,480)
|
Credit impairment
losses
|
(2,532,985)
|
|
(6,258,530)
|
|
(907,402)
|
|
(6,643,727)
|
|
(16,550,465)
|
|
(2,399,592)
|
Asset impairment
losses
|
(689,286)
|
|
(7,101)
|
|
(1,030)
|
|
(1,100,882)
|
|
(427,108)
|
|
(61,925)
|
Finance
costs
|
(267,359)
|
|
(501,042)
|
|
(72,644)
|
|
(995,515)
|
|
(1,238,992)
|
|
(179,637)
|
Other gains/(losses) -
net
|
299,807
|
|
418,781
|
|
60,718
|
|
499,379
|
|
3,459
|
|
502
|
Total
expenses
|
(11,491,810)
|
|
(12,921,561)
|
|
(1,873,450)
|
|
(38,434,729)
|
|
(45,102,457)
|
|
(6,539,242)
|
Profit/(loss) before
income tax expenses
|
4,339,644
|
|
(603,223)
|
|
(87,459)
|
|
23,400,178
|
|
13,013,271
|
|
1,886,747
|
Income tax
expenses
|
(1,443,350)
|
|
(202,712)
|
|
(29,390)
|
|
(6,691,118)
|
|
(4,238,232)
|
|
(614,486)
|
Net profit/(loss)
for the period
|
2,896,294
|
|
(805,935)
|
|
(116,850)
|
|
16,709,060
|
|
8,775,039
|
|
1,272,261
|
|
|
|
|
|
|
|
|
|
|
|
|
Net profit/(loss)
attributable to:
|
|
|
|
|
|
|
|
|
|
|
|
Owners of the
Group
|
2,906,087
|
|
(815,292)
|
|
(118,206)
|
|
16,804,380
|
|
8,699,369
|
|
1,261,290
|
Non-controlling
interests
|
(9,793)
|
|
9,357
|
|
1,357
|
|
(95,320)
|
|
75,670
|
|
10,971
|
Net profit/(loss)
for the period
|
2,896,294
|
|
(805,935)
|
|
(116,850)
|
|
16,709,060
|
|
8,775,039
|
|
1,272,261
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings/(loss) per
share
|
|
|
|
|
|
|
|
|
|
|
|
-Basic earnings/(loss)
per share
|
2.51
|
|
(0.71)
|
|
(0.10)
|
|
14.22
|
|
7.60
|
|
1.10
|
-Diluted
earnings/(loss) per share
|
2.42
|
|
(0.71)
|
|
(0.10)
|
|
13.38
|
|
7.58
|
|
1.10
|
-Basic earnings/(loss)
per ADS
|
1.26
|
|
(0.36)
|
|
(0.05)
|
|
7.11
|
|
3.80
|
|
0.55
|
-Diluted
earnings/(loss) per ADS
|
1.21
|
|
(0.36)
|
|
(0.05)
|
|
6.69
|
|
3.79
|
|
0.55
|
LUFAX HOLDING
LTD
|
UNAUDITED INTERIM
CONDENSED CONSOLIDATED BALANCE SHEETS
|
(All amounts in
thousands, except share data, or otherwise noted)
|
|
|
|
|
|
|
|
|
|
As of December
31,
|
|
As of December
31,
|
|
2021
|
|
2022
|
|
RMB
|
|
RMB
|
|
USD
|
Assets
|
|
|
|
|
|
Cash at bank
|
34,743,188
|
|
43,882,127
|
|
6,362,310
|
Restricted
cash
|
30,453,539
|
|
26,508,631
|
|
3,843,390
|
Financial assets at
fair value through profit or loss
|
31,023,211
|
|
29,089,447
|
|
4,217,573
|
Financial assets at
amortized cost
|
3,784,613
|
|
4,716,448
|
|
683,821
|
Financial assets
purchased under reverse repurchase agreements
|
5,527,177
|
|
-
|
|
-
|
Accounts and other
receivables and contract assets
|
22,344,773
|
|
15,758,135
|
|
2,284,715
|
Loans to
customers
|
214,972,110
|
|
211,446,645
|
|
30,656,882
|
Deferred tax
assets
|
4,873,370
|
|
4,990,352
|
|
723,533
|
Property and
equipment
|
380,081
|
|
322,499
|
|
46,758
|
Investments accounted
for using the equity method
|
459,496
|
|
39,271
|
|
5,694
|
Intangible
assets
|
899,406
|
|
885,056
|
|
128,321
|
Right-of-use
assets
|
804,990
|
|
754,010
|
|
109,321
|
Goodwill
|
8,918,108
|
|
8,911,445
|
|
1,292,038
|
Other assets
|
1,249,424
|
|
1,958,741
|
|
283,991
|
Total
assets
|
360,433,486
|
|
349,262,807
|
|
50,638,347
|
Liabilities
|
|
|
|
|
|
Payable to platform
users
|
2,747,891
|
|
1,569,367
|
|
227,537
|
Borrowings
|
25,927,417
|
|
36,915,513
|
|
5,352,246
|
Bond payable
|
-
|
|
2,143,348
|
|
302,354
|
Current income tax
liabilities
|
8,222,684
|
|
1,987,443
|
|
288,152
|
Accounts and other
payables and contract liabilities
|
8,814,255
|
|
12,198,654
|
|
1,768,639
|
Payable to investors of
consolidated structured entities
|
195,446,140
|
|
177,147,726
|
|
25,684,006
|
Financial guarantee
liabilities
|
2,697,109
|
|
5,763,369
|
|
835,610
|
Deferred tax
liabilities
|
833,694
|
|
694,090
|
|
100,634
|
Lease
liabilities
|
794,544
|
|
748,807
|
|
108,567
|
Convertible promissory
note payable
|
10,669,498
|
|
5,164,139
|
|
748,730
|
Optionally convertible
promissory notes
|
7,405,103
|
|
8,142,908
|
|
1,180,611
|
Other
liabilities
|
2,315,948
|
|
2,000,768
|
|
290,084
|
Total
liabilities
|
265,874,283
|
|
254,476,132
|
|
36,895,571
|
Equity
|
|
|
|
|
|
Share
capital
|
75
|
|
75
|
|
11
|
Share
premium
|
33,365,786
|
|
32,073,874
|
|
4,650,275
|
Treasury
shares
|
(5,560,104)
|
|
(5,642,769)
|
|
(818,125)
|
Other
reserves
|
9,304,995
|
|
2,158,432
|
|
312,943
|
Retained
earnings
|
55,942,943
|
|
64,600,234
|
|
9,366,154
|
Total equity
attributable to owners of the Company
|
93,053,695
|
|
93,189,846
|
|
13,511,258
|
Non-controlling
interests
|
1,505,508
|
|
1,596,829
|
|
231,518
|
Total
equity
|
94,559,203
|
|
94,786,675
|
|
13,742,776
|
Total liabilities
and equity
|
360,433,486
|
|
349,262,807
|
|
50,638,347
|
|
|
|
|
|
|
LUFAX HOLDING
LTD
|
UNAUDITED INTERIM
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
|
(All amounts in
thousands, except share data, or otherwise noted)
|
|
|
|
|
|
|
|
|
|
Three Months Ended
December 31,
|
|
Twelve Months Ended
December 31,
|
|
2021
|
|
2022
|
|
2021
|
|
2022
|
|
RMB
|
|
RMB
|
|
USD
|
|
RMB
|
|
RMB
|
|
USD
|
Net cash generated
from/(used in) operating
activities
|
(629,561)
|
|
4,823,634
|
|
699,361
|
|
4,987,472
|
|
4,455,301
|
|
645,958
|
Net cash generated
from/(used in) investing activities
|
2,949,461
|
|
1,063,535
|
|
154,198
|
|
313,822
|
|
8,447,678
|
|
1,224,798
|
Net cash generated
from/(used in) financing activities
|
(1,631,703)
|
|
(7,075,240)
|
|
(1,025,813)
|
|
(2,448,028)
|
|
(9,918,803)
|
|
(1,438,091)
|
Effects of exchange
rate changes on cash and
cash
equivalents
|
(98,354)
|
|
(148,951)
|
|
(21,596)
|
|
(142,607)
|
|
57,025
|
|
8,268
|
Net increase/(decrease)
in cash and cash
equivalents
|
589,843
|
|
(1,337,022)
|
|
(193,850)
|
|
2,710,659
|
|
3,041,201
|
|
440,933
|
Cash and cash
equivalents at the beginning of
the period
|
25,906,467
|
|
30,874,533
|
|
4,476,387
|
|
23,785,651
|
|
26,496,310
|
|
3,841,604
|
Cash and cash
equivalents at the end of the
period
|
26,496,310
|
|
29,537,511
|
|
4,282,537
|
|
26,496,310
|
|
29,537,511
|
|
4,282,537
|
View original
content:https://www.prnewswire.com/news-releases/lufax-reports-fourth-quarter-and-full-year-2022-financial-results-301768815.html
SOURCE Lufax Holding Ltd