Lufax Holding Ltd, a leading Chinese fintech firm, sold 469 million yuan in non-performing loans for 36.44 million yuan to reduce credit risk and stabilize investor sentiment. Despite this, the stock saw sharp declines in late July, dropping over 11% and 12% on consecutive days due to investor concerns.

The company is focusing on digital transformation and cost-cutting measures to boost operational efficiency and profitability. LU plans to manage credit risk, expand digital offerings, and pursue strategic partnerships to support earnings growth and potentially resume dividends by the end of 2025.

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Read more at Yahoo Finance: Lufax Holding Ltd (LU) Sells $64M in Bad Loans to Cut Credit Risk, Stabilize Outlook