Lufax Holding Ltd history, profile and corporate video
Lufax Holding Ltd is a Chinese personal financial services platform headquartered in Shanghai, China, and an associate company of Ping An Insurance (Group) Company of China, Ltd. It traces its roots back to September 2011 when Ping An Insurance Group set up Shanghai Lujiazui International Financial Asset Exchange Co., Ltd. (“Shanghai Lufax”) as its wealth management subsidiary.
In March 2012, Lufax.com, an online investment platform was launched.
In December 2014, Lufax Holding Ltd was incorporated in the Cayman Islands.
In September 2015, LU.com was launched.
In May 2016, Lufax completed the acquisition of the retail credit facilitation business. It also acquired Shenzhen Qianhai Financial Assets Exchange.
In March 2016, it completed the acquisition of Chongqing Financial Assets Exchange.
In September 2017, Ping An Puhui initiated cooperation with non-Ping An insurer to expand the credit enhancement capability.
In May 2017, The State Administration of Foreign Exchange approved the request from Shenzhen Branch to start QEX’s pilot business.
In January 2017, Lu International (Singapore) Financial Asset Exchange Pte. Ltd. was incorporated in Singapore.
Lufax operates through the following business segments: Wealth Management, Retail Credit Facilitation, and Technology Empowerment.
The Wealth Management segment includes Lufax (Lu.com), Lu International (Singapore) and Lu International (Hong Kong) platforms, which provide wealth management services to the middle class and affluent investors both domestically and abroad.
Retail Credit Facilitation
In the Retail Credit Facilitation segment, it is considered one of the largest technology-empowered retail credit facilitation services platforms in China, providing O2O (online to offline) end-to-end lending services from offline consultation to online application to borrowers including small business owners and individuals.
The Technology Empowerment segment utilizes big data, AI, cloud computing, blockchain and other financial technologies to provide customized and modular technology enabling solutions for financial institutions.
Lufax (lu.com), or Shanghai Lujiazui International Financial Asset Exchange Co., Ltd., is one of the largest wealth management platforms in China.
Ping An Puhui is committed to leveraging technology innovation and comprehensive risk management to help small business owners obtain professional loan services.
Chongqing Financial Assets Exchange Co., Ltd. aims to become a financial asset exchange, improving financial efficiency and reducing the enterprises’ financing costs.
Shenzhen Qianhai Financial Assets Exchange focuses on the FinTech field and strives to become an inter-agency assets exchange platform and a cross-border exchange platform in China.
Lu International (Singapore) Financial Asset Exchange Pte Ltd. is a subsidiary of Lufax Holding Ltd, incorporated in Singapore in 2017. It holds a capital markets services (CMS) license from the Monetary Authority of Singapore.
Lu International (Hong Kong) Limited is a Lufax Holding Ltd company incorporated in Hong Kong as a licensed corporation approved by the Hong Kong SFC.
With more than 87 000 employees, Lufax Holding Ltd is considered one of the Most Valuable Chinese Brands. According to Forbes, it is considered one of the top 2000 largest public companies in the world.
*Information from Forbes.com, Wikipedia.org, and www.lufaxholding.com.
**Video published on YouTube by “Lufax“.