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The latest update is out from Lufax Holding Ltd Class A ( (HK:6623) ).
Lufax Holding Ltd has renewed its services arrangement with majority shareholder Ping An Insurance by signing a 2026 Services Purchasing Agreement, effective from February 13 to December 31, 2026. Under the deal, Ping An will continue to supply financial consulting, administrative, legal and risk management, human resources consulting, and technology information services to Lufax’s wholly owned unit Ping An Puhui Enterprises Management.
The annual service fees are estimated at RMB42.17 million, inclusive of value-added tax, and will be settled in four equal quarterly payments during 2026. As the transaction qualifies as a continuing connected transaction under Hong Kong listing rules but falls below the 5% threshold, it requires disclosure and annual review but is exempt from independent shareholder approval, underscoring the ongoing operational reliance on Ping An while keeping regulatory obligations at a lighter level.
More about Lufax Holding Ltd Class A
Lufax Holding Ltd is a financial services platform incorporated in the Cayman Islands and listed in both Hong Kong and New York. Through its subsidiaries, the company provides technology-enabled consumer and small business financial services, operating closely with its majority shareholder Ping An Insurance in the mainland China market.
Technical Sentiment Signal: Buy
Current Market Cap: HK$18.27B
See more data about 6623 stock on TipRanks’ Stock Analysis page.