Lufax Holding Falls On Lower Q3 Profit, Outlook

Lufax Holding Ltd (LU) shares are falling more than 22 percent on Friday morning trade after the company reported a sharp decline in third-quarter earnings.

The company RMB 1.355 billion, down from RMB 4.115 billion in the prior year.

Looking ahead to the full year 2022, the company expects net profit to decline 47-48 percent from the previous year to RMB 8.5 billion to RMB 8.9 billion.

Currently, shares are at $1.38, down 21.14 percent from the previous close of $1.75 on a volume of 33,047,555.

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