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Lufax Q2 net loss narrows 86.2% to RMB82 million as tax relief outweighs operating decline

8/23/2026

RMB82 million: Lufax Holding Ltd's (NYSE: LU) second-quarter net loss, 86.2% below the RMB594 million reported a year earlier. The math traces directly to taxes, not operations.

Pretax profit fell to RMB30 million from RMB266 million, yet income-tax expense collapsed from RMB861 million to RMB112 million; the full spread of that tax shift of RMB749 million more than accounts for the RMB512 million net-loss improvement.

| Component | Q2 2026 (reported) | Q2 2025 (reported) | |---|---|---| | Pretax profit | RMB30M | RMB266M | | Income-tax expense | RMB112M | RMB861M | | Net loss | RMB82M | RMB594M | Total income fell 15.5% YoY to RMB6.23 billion.

Stripping out credit impairments, finance costs and other gains or losses, the operating cost base contracted 27.5%, the cleaner read on how far management has pulled the expense structure.