Lufax Holding Delays 20-F Filing Amid Auditor Change

Lufax Holding ( (LU) ) has released a notification of late filing.

Lufax Holding Ltd has announced a delay in filing its Form 20-F (Yearly Report) for the financial period ending December 31, 2024. The primary reason for this delay is the proposed change in auditors from PricewaterhouseCoopers to Ernst & Young, which is pending approval at an extraordinary general meeting scheduled for June 25, 2025. The company expects to file the report promptly after the new auditors complete their audit. Lufax Holding anticipates significant changes in its financial results but cannot provide estimates due to the ongoing auditor transition. The notification includes forward-looking statements, and the company is committed to ongoing compliance efforts. The notification was signed by Tongzhuan Xi, the Chief Financial Officer.

Spark’s Take on LU Stock

According to Spark, TipRanks’ AI Analyst, LU is a Neutral.

Lufax Holding faces significant financial hurdles with declining income and profitability, impacting its overall stock score. Despite operational efficiencies and positive cash flow, the negative valuation metrics and financial instability weigh heavily. Technical analysis and earnings call insights show potential growth areas but also underline persistent challenges. The stock’s dividend yield offers some appeal, but broader risks must be managed for improvement.

To see Spark’s full report on LU stock, click here.

More about Lufax Holding

Average Trading Volume: 4,124,426

Technical Sentiment Signal: Buy

Current Market Cap: $2.43B

See more data about LU stock on TipRanks’ Stock Analysis page.