Lufax Holding Ltd has announced the appointment of Jia Liu as its new Chief Financial Officer, effective October 16, 2026. This leadership change comes at a critical time for the company, which is facing significant financial challenges.
The company expects to report a net loss of between RMB 1.3 billion and RMB 1.7 billion for the third quarter of 2026. This follows a net loss of approximately RMB 694 million recorded in the first half of the year. The increase in losses is attributed to rising credit impairment losses and additional tax expenses linked to the performance of its financing guarantee subsidiary.
Jia Liu brings extensive experience in financial management, having previously served as the Chief Capital Operation Officer and Chief Financial Officer at CITIC aiBank Corporation Limited. Her background includes roles at Yiren Digital Ltd and PricewaterhouseCoopers, where she gained expertise in audit and banking.
This appointment is particularly significant as Lufax navigates a challenging financial landscape. The company is adapting its funding strategies, including changes in dividend distributions to meet the needs of its overseas subsidiaries.
As a leading financial services enabler for small business owners in China, Lufax's performance is closely watched by investors and industry stakeholders. The company has established relationships with over 85 financial institutions in China, which are crucial for its operations.
Looking ahead, Lufax is in the process of preparing its financial results for the third quarter of 2026, which will be announced in due course. Investors and stakeholders are advised to exercise caution as the company navigates these turbulent times.
This announcement is based on the filing with the SEC, accession number 0001193125-26-423425.