The Hong Kong Stock Exchange had previously set out six resumption conditions for Lufax, all of which have now been fulfilled.
After a suspension lasting more than 600 days since January 28, 2025, Lufax Holding Ltd (06623.HK; LU.N), a subsidiary of Ping An Group, officially returned to the Hong Kong stock market on September 24.
Choice data shows that on its first day of resumed trading on the Hong Kong Stock Exchange, Lufax's share price fluctuated in early trading before turning downward, with declines hovering between 40% and 50%, ultimately closing at HK$6.45, down 40.83%.
On the evening of September 23, Lufax issued an announcement declaring that it had fully complied with the Hong Kong Stock Exchange's resumption guidance, and that its shares would resume trading on the Hong Kong Stock Exchange at 9:00 a.m. on September 24, 2026.
According to the announcement, the Hong Kong Stock Exchange had previously set out six resumption conditions for Lufax, covering independent investigation, financial restatement, management integrity, internal controls, continued listing eligibility, and information disclosure. As of the date of the announcement, all six conditions had been fulfilled.
In contrast to the decline in Hong Kong trading after resumption, Lufax's US-listed shares, which had never been suspended, were boosted by the news. In US Eastern Time on September 23, they rose more than 8% at one point during the session before closing at US$1.22 per ADS, up 6.09% from the previous trading day.
Lufax's recently released 2026 interim report shows that as of the end of the first half of 2026, its loan balance stood at RMB 167.3 billion, down 13.5% year-on-year. However, consumer finance loan balances within that total reached RMB 65.4 billion, up 19.9% year-on-year, with their proportion rising significantly.
In terms of revenue and profit, Lufax's total revenue for the first half of this year fell to RMB 12.489 billion from RMB 14.084 billion in the same period last year. Its net loss widened to RMB 694 million in the first half of this year from RMB 519 million in the same period last year.
Nevertheless, Lufax's asset quality improved quarter-on-quarter. Interim report data shows that its C-M3 migration rate, which estimates the percentage of currently non-overdue performing loans that become non-performing loans after three months, fell to 1.0% at the end of the first half from 1.2% at the end of the first quarter. The 30-day-plus delinquency rate dropped to 5.8% from 6.1%.
Lufax said that with the completion of all resumption guidance and the restoration of Hong Kong trading, uncertainties have basically been eliminated. In the second half of the year, it will focus on building a dedicated consumer finance team, advancing technological applications such as AI tools, expanding its customer base of self-employed individuals and salaried professionals, and promoting management of existing customers and differentiated regional operations.