Lufax Posts Q3 2026 Net Loss of RMB1,494 Million, at Low End of Warning Range
LU is trading near its 52-week low of $8.01 (5.9% above the low) on elevated volume (2.1× avg).
Summary
Lufax reported a Q3 2026 net loss of RMB1,494 million (US$223 million), at the low end of its October 16 warning range, on higher credit impairment and a RMB773 million tax charge; delinquency rates improved sequentially but the C-M3 flow rate rose.
Key Events · Earnings and Guidance · LU
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Q3 Net Loss of RMB1,494 Million
Net loss was RMB1,494 million (US$223 million) versus RMB380 million a year earlier, a 293.2% widening but at the low end of the RMB1.3-1.7 billion range guided on October 16.
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Credit Impairment and Tax Charge Drive Loss
Credit impairment losses rose 10.3% to RMB4,511 million (US$673 million), and income tax expense jumped 946.5% to RMB773 million (US$115 million) after a deferred tax asset reduction and additional withholding taxes.
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Cost Cuts Partly Offset
Expenses excluding credit impairment, finance costs and other gains or losses fell 13.4% to RMB2,262 million (US$337 million), with sales and marketing down 13.7% and operation and servicing down 16.1%.
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Delinquency Improves, Flow Rate Rises
DPD 30+ fell to 5.5% from 5.8% and DPD 90+ to 3.2% from 3.7% sequentially, but the C-M3 flow rate rose to 1.2% from 1.0%, indicating more current loans rolling into delinquency.
Analysis · LU · Finance
The actual Q3 numbers behind Lufax's October 16 profit warning are now in: a net loss of RMB1,494 million (US$223 million), roughly four times the RMB380 million loss a year earlier but at the bottom of the RMB1.3-1.7 billion range it had guided to. Driving the loss were credit impairment losses of RMB4,511 million, up 10.3%, and an outsized RMB773 million income tax charge after the company cut deferred tax assets and booked additional withholding taxes on dividends from domestic subsidiaries. Cost discipline partly offset the damage, with expenses excluding credit impairment, finance costs and other items down 13.4%. Asset quality showed mixed movement: DPD 30+ and DPD 90+ delinquency rates improved sequentially to 5.5% and 3.2%, but the C-M3 flow rate rose to 1.2% from 1.0%, suggesting more current loans are rolling into delinquency. The filing also discloses a change in the Internal Control Improvement Committee, with CEO Xiang Ji joining it and the board chairman stepping down as its chair — relevant given the company's recent internal-control remediation and trading resumption.
How filings like this one have moved
In the 30 days to Oct 28, 2026, 36.5% of the 953 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.66%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, LU was trading at $8.48 on NYSE in the Finance sector, with a market capitalization of approximately $758.3M. The 52-week trading range was $8.01 to $34.40. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.