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Lufax loss shrinks 86.2% in Q2, tax effects drive improvement

Pretax profit fell to RMB30 million from RMB266 million, even as income-tax expense dropped to RMB112 million from RMB861 million.

Sunday, August 23, 2026 · Written up by our desk · Results

Lufax Holding Ltd reported its second-quarter net loss narrowed by 86.2% to RMB82 million from RMB594 million a year earlier, but Yahoo Finance said the headline improvement was driven largely by taxes rather than stronger underlying profitability.

The company’s pretax profit declined to RMB30 million from RMB266 million as income-tax expense fell to RMB112 million from RMB861 million. Total income decreased 15.5% to RMB6.23 billion, while total expenses declined 12.7%.

Lufax said costs also helped, with expenses excluding credit impairments, finance costs and other gains or losses down 27.5%. Still, it remained loss-making, and its first-half net loss widened 33.7% to RMB694 million.

On business momentum, Lufax increased total new loans 4.6% to RMB51.1 billion, led by a 27.6% rise in consumer-finance originations to RMB36.9 billion. The outstanding consumer-finance balance grew 19.9% to RMB65.4 billion, while several asset-quality measures improved sequentially, and credit costs remained elevated.

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