Auditor drama casts unflattering light on Lufax at already-difficult time
The online loan facilitator moved to fire PwC after the accountant raised a red flag over some related-party transactions Key Takeaways: Lufax’s board has proposed terminating PwC as its external…
OneConnect in forced divorce from parent Ping An
The financial software services provider will shutter its cloud business, whose main clients were its parent and other related companies Key Takeaways: OneConnect will shutter its cloud services division, which…
PODCAST: Relaxing Data Requirements, and a Big Dividend
China exempts most foreign firms from worrisome data requirements. But will it change its mind later? And a leading fintech lender offers a massive dividend. But shareholders worry more about its rapidly shrinking size.
CHINA BULLETIN: China Eases Up on Cross-Border Data Requirements
In this week’s issue data relief for foreigners, Holland in the hot seat and a cloak-and-dagger poisoning case draws to a close. On a scale of 1 to 100, we…
Investors unimpressed by massive dividend from shrinking Lufax
The online lender’s American depositary shares rose by just $1.11 in the two days after it announced a special dividend of $2.42 per ADS Key Takeaways: Lufax announced a massive…
Lufax takes on more risk, makes Hong Kong acquisition, as its lending shrivels
The online loan facilitator’s revenue plunged 39% in the third quarter, as its loan delinquency rates rose sharply from a year earlier Key Takeaways: Lufax’s new loan originations fell 59%…
Linklogis deconstructed by China’s slumping property market
Supply chain financing assets processed over the company’s key platforms fell in the nine months to September as real estate companies’ troubles deepened Key Takeaways: The total volume of supply…
