Lufax Unveils Important Auditing Changes Following Shareholder Meeting

Lufax Announces Results of Extraordinary General Meeting

Lufax Holding Ltd, a prominent player in the financial services sector for small businesses in China, recently held its extraordinary general meeting of shareholders in Shanghai on June 25, 2025. This pivotal meeting resulted in significant changes in the company's audit arrangements, reflecting Lufax's commitment to maintaining transparency and operational efficiency.

During the gathering, shareholders voted to remove PricewaterhouseCoopers and PricewaterhouseCoopers Zhong Tian LLP from their roles as auditors. This decision was part of a larger strategic shift aimed at improving the company’s financial oversight and aligning with evolving business needs.

Following the dismissal of the previous auditors, shareholders then approved the appointment of Ernst & Young and Ernst & Young Hua Ming LLP to take over these crucial responsibilities. The newly appointed auditors will serve until the annual general meeting for the fiscal year ending December 31, 2025. The board was also authorized to determine their remuneration, ensuring that the financial aspects of this transition were clearly outlined and agreed upon.

This shift in auditing partners comes at a time when Lufax is focusing on bolstering its service offerings for small business owners, a demographic that has been markedly underserved in China. By establishing relationships with 85 financial institutions, Lufax is positioning itself as a critical financial enabler, providing tailored financing solutions designed to cater specifically to the needs of small businesses struggling to find support in a competitive market.

Lufax's ability to adapt and change auditing practices signals its proactive approach to governance and accountability, which are paramount in the current business environment where transparency is increasingly scrutinized by investors and stakeholders alike. The appointment of Ernst & Young, known for their expertise and rigorous auditing standards, is expected to reassure investors regarding Lufax's financial integrity.

In addition to these structural changes, Lufax continues to innovate and refine its product offerings, enhancing its capacity to meet the diverse needs of its clients. This evolution is driven by a deep understanding of the challenges faced by small business owners, such as access to capital, efficient financial management, and navigating regulatory landscapes effectively.

As Lufax moves forward with its strategic objectives, the company is poised to further solidify its position as a leading financial partner for small businesses in China. With strong relationships and a comprehensive understanding of market dynamics, Lufax is not just a financial service provider but also a supportive ally for entrepreneurs. As they embark on this new chapter with Ernst & Young, Lufax is set to reinforce its commitment to quality service and operational excellence.

Through these significant developments following the extraordinary general meeting, Lufax is positioning itself for continued success and growth in the ever-evolving financial landscape of China. Investors and stakeholders will be watching closely as the company undertakes this transition and implements its forward-looking strategies.

Conclusion

As Lufax navigates the complexities of financial services with its new auditing partnership, stakeholders can expect increased transparency, enhanced service offerings, and a steadfast commitment to supporting small businesses across China.