Reported 29 days ago
Lufax Holding Ltd (NYSE:LU), a prominent Chinese fintech company, has sold 469 million yuan in non-performing loans for a total of 36.44 million yuan to cut credit risk and address asset quality concerns. This strategic move led to an 18% reduction in their loan portfolio and aimed to stabilize investor sentiment. Alongside asset optimization, Lufax is also pursuing digital transformation and cost-cutting measures to enhance profitability. However, recent stock performance has faced challenges due to investor concerns over limited short-term growth catalysts.
Source: YAHOO