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Lufax Holding Ltd Class A ( (HK:6623) ) has shared an announcement.
Lufax Holding Ltd has revised its funding strategy in response to delays in publishing its 2024 annual and first-half 2025 financial results, which have constrained its overseas financing capacity and coincided with ongoing funding needs and requirements to reduce cross-border lending. To meet the capital needs of the parent company and its overseas subsidiaries, Lufax’s domestic subsidiaries will make substantial dividend distributions from historical retained earnings to offshore units, a move that is expected to trigger about RMB633 million in withholding and income tax expenses in 2025. The company emphasized that its overall financial position remains sound and that the anticipated tax charges are not expected to have a material adverse impact on its operations, with final figures to be confirmed in forthcoming audited results.
More about Lufax Holding Ltd Class A
Lufax Holding Ltd is a Cayman Islands–incorporated financial services group listed in Hong Kong and on the NYSE. Through its domestic and overseas subsidiaries, the company provides financing and related services, raising capital via overseas financing, cross-border lending and dividend distributions from its mainland China operations to support its international funding needs.
Technical Sentiment Signal: Hold
Current Market Cap: HK$18.27B
For a thorough assessment of 6623 stock, go to TipRanks’ Stock Analysis page.