Lufax Holding GAAP EPADS of -$0.21, total income of $964M

• Lufax Holding press release (NYSE:LU): Q1 GAAP EPADS of -$0.21.
• Total income of $964M (-30.9% Y/Y).
• Outstanding balance of loans enabled was RMB270.2 billion as of March 31, 2024 compared to RMB495.2 billion as of March 31, 2023, representing a decrease of 45.4%.
• Cumulative number of borrowers increased by 12.4% to approximately 21.7 million as of March 31, 2024 from approximately 19.4 million as of March 31, 2023.
• New loans enabled were RMB48.1 billion in the first quarter of 2024, compared to RMB57.0 billion in the same period of 2023, representing a decrease of 15.6%.
• As of March 31, 2024, the non-performing loan ratio for consumer finance loans was 1.6% as compared to 1.5% as of December 31, 2023.

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