HONG KONG (ETNET NEWS) - Lufax (06623) is currently down 35.8%, trading at HK$7. The stock has seen a volume of approximately 200,000 shares, involving HK$1.4 million.
Lufax announced that all conditions for resumption of trading have been fulfilled. The company has applied for its shares to resume trading on the Hong Kong Stock Exchange from 9:00 a.m. today.
The company's shares were suspended from trading on the Hong Kong Stock Exchange starting January 28 last year. The exchange had set six conditions for resumption of trading, all of which the company has now met.
*Q2 Revenue Down 15%*
Lufax reported a significantly narrowed net loss of RMB 82 million for the second quarter ended June this year, compared to a net loss of RMB 594 million in the same period last year. Basic loss per American Depositary Share (ADS) was RMB 0.24. No interim dividend will be paid.
For the quarter, total revenue was RMB 6.227 billion, a 15.5% year-on-year decrease, primarily due to reduced loan balances leading to lower technology platform income. Total expenses were RMB 6.197 billion, down 12.7% year-on-year, mainly benefiting from workforce optimization and cost control measures that reduced sales and administrative expenses.
For the first half of this year, the company's net loss widened to RMB 694 million, compared to a net loss of RMB 519 million in the same period last year. Total revenue was RMB 12.489 billion, down 11.3% year-on-year. Basic loss per ADS was RMB 1.04. No interim dividend will be paid. (am)
Lufax announced that all conditions for resumption of trading have been fulfilled. The company has applied for its shares to resume trading on the Hong Kong Stock Exchange from 9:00 a.m. today.
The company's shares were suspended from trading on the Hong Kong Stock Exchange starting January 28 last year. The exchange had set six conditions for resumption of trading, all of which the company has now met.
*Q2 Revenue Down 15%*
Lufax reported a significantly narrowed net loss of RMB 82 million for the second quarter ended June this year, compared to a net loss of RMB 594 million in the same period last year. Basic loss per American Depositary Share (ADS) was RMB 0.24. No interim dividend will be paid.
For the quarter, total revenue was RMB 6.227 billion, a 15.5% year-on-year decrease, primarily due to reduced loan balances leading to lower technology platform income. Total expenses were RMB 6.197 billion, down 12.7% year-on-year, mainly benefiting from workforce optimization and cost control measures that reduced sales and administrative expenses.
For the first half of this year, the company's net loss widened to RMB 694 million, compared to a net loss of RMB 519 million in the same period last year. Total revenue was RMB 12.489 billion, down 11.3% year-on-year. Basic loss per ADS was RMB 1.04. No interim dividend will be paid. (am)
