Latest news with #Lufax
Yahoo
27-06-2025
- Business
- Yahoo
Lufax Announces Results of Extraordinary General Meeting
SHANGHAI, June 25, 2025 /PRNewswire/ -- Lufax Holding Ltd (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced the results of its extraordinary general meeting of shareholders held in Shanghai on June 25, 2025. At the meeting, the shareholders of Lufax approved, ratified and/or confirmed the following resolutions: To remove PricewaterhouseCoopers and PricewaterhouseCoopers Zhong Tian LLP as the auditors of the Company. Conditional upon the passing of the resolution 1 above, to appoint Ernst & Young and Ernst & Young Hua Ming LLP as the auditors of the Company to fill the vacancies and to re-appoint them as the auditors of the Company to hold office until the annual general meeting for the year ending December 31, 2025, and to authorise the Board to fix their remuneration. About Lufax Lufax is a leading financial services enabler for small business owners in China. Lufax offers financing products designed to address the needs of small business owners and others. In doing so, Lufax has established relationships with 85 financial institutions in China as funding partners, many of which have worked with Lufax for over three years. Investor Relations Contact Lufax Holding LtdEmail: Investor_Relations@ ICR, LLCRobin YangTel: +1 (646) 308-0546Email: View original content: SOURCE Lufax Holding Ltd
Associated Press
29-05-2025
- Business
- Associated Press
Lufax Announces Extraordinary General Meeting on June 25, 2025
SHANGHAI, May 29, 2025 /PRNewswire/ -- Lufax Holding Ltd ('Lufax' or the 'Company') (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced that it will hold an extraordinary general meeting of the Company's shareholders (the 'EGM') at 10:00 A.M. Hong Kong time on June 25, 2025 at Room 3601, No. 1333 Lujiazui Ring Road, Pudong New District, Shanghai, the People's Republic of China, for the purposes of considering and, if thought fit, passing each of the proposed resolutions set forth in the EGM notice. The EGM notice, the EGM circular, and the form of proxy for the EGM are available on the Company's website at Holders of record of the Company's ordinary shares on the Company's register of members as of the close of business on May 9, 2025 (Hong Kong time) are entitled to attend the EGM in person. Holders of the Company's American depositary shares (the 'ADSs') as of the close of business on May 9, 2025 (New York time), who wish to exercise their voting rights for the underlying ordinary shares, can submit their voting instructions to Citibank, N.A. About Lufax Lufax is a leading financial services enabler for small business owners in China. Lufax offers financing products designed to address the needs of small business owners and others. In doing so, Lufax has established relationships with 85 financial institutions in China as funding partners, many of which have worked with Lufax for over three years. Investor Relations Contact Lufax Holding Ltd Email: [email protected] ICR, LLC Robin Yang Tel: +1 (646) 308-0546 Email: [email protected] View original content: SOURCE Lufax Holding Ltd
Yahoo
29-05-2025
- Business
- Yahoo
Lufax Announces Extraordinary General Meeting on June 25, 2025
SHANGHAI, May 29, 2025 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced that it will hold an extraordinary general meeting of the Company's shareholders (the "EGM") at 10:00 A.M. Hong Kong time on June 25, 2025 at Room 3601, No. 1333 Lujiazui Ring Road, Pudong New District, Shanghai, the People's Republic of China, for the purposes of considering and, if thought fit, passing each of the proposed resolutions set forth in the EGM notice. The EGM notice, the EGM circular, and the form of proxy for the EGM are available on the Company's website at Holders of record of the Company's ordinary shares on the Company's register of members as of the close of business on May 9, 2025 (Hong Kong time) are entitled to attend the EGM in person. Holders of the Company's American depositary shares (the "ADSs") as of the close of business on May 9, 2025 (New York time), who wish to exercise their voting rights for the underlying ordinary shares, can submit their voting instructions to Citibank, N.A. About Lufax Lufax is a leading financial services enabler for small business owners in China. Lufax offers financing products designed to address the needs of small business owners and others. In doing so, Lufax has established relationships with 85 financial institutions in China as funding partners, many of which have worked with Lufax for over three years. Investor Relations Contact Lufax Holding LtdEmail: Investor_Relations@ ICR, LLCRobin YangTel: +1 (646) 308-0546Email: View original content: SOURCE Lufax Holding Ltd
Yahoo
16-05-2025
- Business
- Yahoo
Lufax Receives NYSE Notice Regarding Late Filing of Annual Report on Form 20-F
SHANGHAI, May 13, 2025 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced that it received a notice from the New York Stock Exchange (the "NYSE") that, as the Company has not timely filed its annual report on Form 20-F for the year ended December 31, 2024, the Company is not fully in compliance the NYSE's continued listing standards at this time. The Company will have until October 30, 2025 to file the annual report with the SEC and regain compliance with the NYSE's continued listing standards. If the Company fails to file the annual report by October 30, 2025, the NYSE may grant the Company an extension until April 30, 2026. If the NYSE does not grant an extension after the Company fails to file the annual report by October 30, 2025, suspension and delisting procedures will commence pursuant to the procedures set out in Section 804.00 of the Listed Company Manual. If the NYSE grants an extension but the Company fails to file the annual report by the end of the extension period, suspension and delisting procedures will also commence. The Company intends to regain compliance with the NYSE's continued listing standards by filing the annual report within the NYSE's prescribed timelines. The notice from the NYSE has no immediate impact on the listing of the Company's American depositary shares on the NYSE. The Company was unable to file the annual report by the prescribed due date due to the proposed change in the Company's auditors. The board of directors of the Company has resolved to appoint Ernst & Young and Ernst & Young Hua Ming LLP as the new auditors of the Company, subject to the passing of an ordinary resolution at an extraordinary general meeting currently scheduled for June 25, 2025. The Company expects to file its 2024 annual report promptly after the new auditors have completed their audit of the financial statements required to be included therein. About Lufax Lufax is a leading financial services enabler for small business owners in China. Lufax offers financing products designed to address the needs of small business owners and others. In doing so, Lufax has established relationships with 85 financial institutions in China as funding partners, many of which have worked with Lufax for over three years. 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 LtdEmail: Investor_Relations@ ICR, LLCRobin YangTel: +1 (646) 308-0546Email: View original content: SOURCE Lufax Holding Ltd
Associated Press
15-04-2025
- Business
- Associated Press
PAObank Shared in World Internet Conference Asia-Pacific Summit in Hong Kong
Insights on the Potential of Commercial Data: A Path to Enhanced Financing Efficiency and Financial Inclusion HONG KONG SAR - Media OutReach Newswire - 15 April 2025 - The World Internet Conference Asia-Pacific Summit 2025 held for the first time in Hong Kong. PAO Bank Limited ('PAObank') has been invited to participate in the World Internet Conference Asia-Pacific Summit 2025, held for the first time in Hong Kong. As the only Hong Kong digital bank invited, PAObank engaged in discussions with international industry leaders and experts on unlocking the potential of commercial data. Leveraging its own experiences, PAObank analyses the adopting level of digital and intelligent technologies in financial sector, with the aim of advancing financial inclusion. The World Internet Conference Asia-Pacific Summit, a flagship event of the innovation and technology sector, was held for two days in Hong Kong under the theme of 'Integration of AI and Digital Technologies Shaping the Future - Jointly Building a Community with a Shared Future in Cyberspace'. The Summit brought together around 1,000 participants from the Mainland and overseas, including government representatives, business leaders, expert and scholars. It serves as a platform to provide new impetus for exploring the potential of digital technology and fostering the growth of the digital economy across the Asia-Pacific region. PAObank, as the first digital bank to participate in the Commercial Data Interchange initiative, stands out in leveraging alternative data to streamline financing processes. PAObank was invited to sub-forum on the second day of the Summit, titled 'Digital Finance Forum: Inclusive Finance Empowered by Digital Intelligence', where it shared insights on fintech applications and the breakthroughs of cross-sector data interchange. Mr. Ambrose Wong, Chief Executive cum Chief Risk Officer of PAObank shared, 'PAObank has been dedicated to addressing the banking services gaps for SMEs since its inception. By leveraging financial technology and alternative data, we have streamlined the loan application and approval process, empowering SMEs with tailored financing services. Over the past five years, our deep exploration and application of commercial data have benefited lots of SME customers. In fact, amongst the approved loan cases of PAObank, about 25%[1] of SMEs obtained bank loans for the first time from PAObank, and around 8.2%[2] of startups received unsecured loan, reflecting PAObank's commitment to empowering SMEs to navigate their business upgrade and transformation journeys by leveraging financial technology. PAObank is also strategically focusing on the Greater Bay Area, a region with immense development potential. The area is witnessing an influx of SMEs and a surge in economic vitality, leading to an increased demand for capital among SMEs. As a subsidiary of Lufax Holding Limited ('Lufax') ( NYSE LU), PAObank aligns closely with Lufax's vision to leverage finance technology to advance financial inclusion in the Greater Bay Area. This synergy will support PAObank in developing cutting-edge digital banking services. PAObank will proactively explore relevant banking services and harness the role of Hong Kong as a 'super-connector' to support SMEs venturing into the Greater Bay Area and overseas markets, empowering them to tackle future challenges with confidence.' Recognised as the 'best partner' for SMEs, PAObank deeply understands SMEs are the cornerstone of the economy. By leveraging financial technology and commercial data, PAObank designs targeted loan services tailored to the specific operational models of various industries. These include the 'Cross-border e-Commerce Revolving Loan"[3] launched this year, designed to help SME expand their e-commerce business presence. By analysing the real-time data from e-commerce platform, such as sales volume, inventory and refund rates, PAObank gains a comprehensive insight into SMEs' business dynamics, which helps streamline the credit assessment process through big data analysis. Based upon the loan approval process, SMEs can secure funding as quick as one week[4] without providing any financial statements. This can promptly meet SME's funding needs while assisting them in exploring new business prospects. Looking ahead, PAObank will continue to leverage commercial data to facilitate the development of digital banking ecosystem by forging more partnership and introducing more SME banking services. With continued efforts in the development of financial technology, PAObank will bring more diverse financing services to individual and SME customers, fulfilling its commitment to financial inclusion. [1] As at 31 December 2024, about 25% of SMEs received their first bank loan amongst the approved loan cases of PAObank. [2] As at 31 December 2024, around 8.2% of SMEs were start-ups operating for less than 3 years amongst the approved loan cases of PAObank. [3] This loan product is only eligible to companies registered in Hong Kong. Reminder: To borrow or not to borrow? Borrow only if you can repay! Terms & Conditions apply. Please refer to PAObank website or call customer services hotline 3762 9900 for details [4] Upon submission of loan application, the specific disbursement time is subject to the completion of documents to be provided and signed. Hashtag: #PAObank #WIC The issuer is solely responsible for the content of this announcement. PAO Bank Limited PAO Bank Limited ('PAObank'), a wholly-owned subsidiary of Lufax Holding Ltd ('Lufax') (SEHK: 6623; NYSE: LU) and a member of Ping An Insurance (Group) Company of China, Ltd. ('Ping An') (SEHK: 2318; SSE: 601318), is committed to fostering financial inclusion and establishing a digital banking ecosystem by leveraging its extensive experience in SME banking services and its leading financial technology advantages. PAObank was granted a banking licence by the Hong Kong Monetary Authority in May 2019 to offer banking services via digital channels. PAObank is expanding diverse business segments including retail banking and SME banking.
