LUFAX(06623): Ping An Consumer Finance and Shenzhen Ping An Asset Management enter into an agreement for asset transfer.

LUFAX (06623) announced that on July 21, 2025, Ping An Consumer Finance and Shenzhen Ping An Asset Management (the winning bidder in the open bidding process) entered into an asset transfer agreement. According to the agreement, Ping An Consumer Finance conditionally agreed to transfer to Shenzhen Ping An Asset Management a total of approximately RMB 469 million in principal and interest related to multiple non-performing debts as of the cut-off date, for a consideration of RMB 36.44 million. The debt assets are non-performing debts of Ping An Consumer Finance. The transfer of debt assets is an effective solution to revitalize credit resources and dispose of non-performing debts through market-oriented means, which can enhance the asset quality of Ping An Consumer Finance and further strengthen the foundation for its future business development. The book value of the debt assets as of the cut-off date is zero. As the debt assets have been written off, the consideration will be used by Ping An Consumer Finance to reverse impairment losses. The proceeds from the transfer of debt assets will be used as general operating funds for Ping An Consumer Finance.