Technology

Lufax Reports Second Quarter 2026 Financial Results

Published

3 months ago

August 18, 2026

Represents Key Milestone as Company Executes Plan to Return to a Normal Reporting Cadence

SHANGHAI, Aug. 18, 2026 /PRNewswire/ — Lufax Holding Ltd (“Lufax” or the “Company”) (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced its unaudited financial results for the second quarter ended June 30, 2026.

Second Quarter 2026 & First Half 2026 Financial Highlights

Total income was RMB6,227 million (US$918 million) in the second quarter of 2026, compared to RMB7,365 million in the same period of 2025.

Net loss was RMB82 million (US$12 million) in the second quarter of 2026, compared to net loss of RMB594 million in the same period of 2025.

(In millions except percentages, unaudited)

Three Months Ended June 30,

2025

2026

YoY

RMB

USD

Total income

7,365

6,227

918

(15.5 %)

Total expenses

(7,099)

(6,197)

(913)

(12.7 %)

Total expenses excluding credit
impairment losses, finance costs and
other (gains)/losses

(2,724)

(1,974)

(291)

(27.5 %)

Credit impairment losses, finance costs and
other gains or losses

(4,375)

(4,224)

(622)

(3.5 %)

Net loss

(594)

(82)

(12)

(86.2 %)

(In millions except percentages, unaudited)

Six Months Ended June 30,

2025

2026

YoY

RMB

USD

Total income

14,084

12,489

1,841

(11.3 %)

Total expenses

(13,593)

(13,175)

(1,942)

(3.1 %)

Total expenses excluding credit
impairment losses, finance costs and
other gains or losses

(5,589)

(4,430)

(653)

(20.7 %)

Credit impairment losses, finance costs and
other gains or losses

(8,004)

(8,745)

(1,289)

9.3 %

Net loss

(519)

(694)

(102)

33.7 %

Second Quarter 2026 Operational Highlights

Total outstanding balance of loans was RMB167.3 billion as of June 30, 2026, compared to RMB193.4 billion as of June 30, 2025, representing a decrease of 13.5%, among which the outstanding balance of consumer finance loans was RMB65.4 billion as of June 30, 2026, compared to RMB54.5 billion as of June 30, 2025, representing an increase of 19.9%.

Total new loans enabled were RMB51.1 billion in the second quarter of 2026, representing an increase of 4.6% compared to RMB48.9 billion in the same period of 2025, among which new consumer finance loans were RMB36.9 billion in the second quarter of 2026, compared to RMB28.9 billion in the same period of 2025, representing an increase of 27.6%.

Cumulative number of borrowers increased by 13.1% to approximately 31.4 million as of June 30, 2026 from approximately 27.8 million as of June 30, 2025.

As of June 30, 2026, including the consumer finance subsidiary, the Company bore risk on 93.2% of its outstanding balance, up from 83.7% as of June 30, 2025.

As of June 30, 2026, excluding the consumer finance subsidiary, the Company bore risk on 95.7% of its outstanding balance, up from 84.0% as of June 30, 2025.

For the second quarter of 2026, the Company’s retail credit enablement business take rate[1] based on loan balance was 13.8%, as compared to 12.5% for the second quarter of 2025.

C-M3 flow rate[2] for the total loans the Company had enabled, excluding the consumer finance subsidiary, was 1.0% in the second quarter of 2026, compared to 1.2% in the first quarter of 2026. Flow rates for the general unsecured loans and secured loans the Company had enabled were 1.0% and 0.9% respectively in the second quarter of 2026, as compared to 1.2% and 1.0% respectively in the first quarter of 2026.

Days past due (“DPD”) 30+ delinquency rate[3] for the total loans the Company had enabled, excluding the consumer finance subsidiary, was 5.8% as of June 30, 2026, as compared to 6.1% as of March 31, 2026. DPD 30+ delinquency rate for general unsecured loans was 6.1% as of June 30, 2026, as compared to 6.4% as of March 31, 2026. DPD 30+ delinquency rate for secured loans was 5.0% as of June 30, 2026, as compared to 5.4% as of March 31, 2026.

DPD 90+ delinquency rate[4] for total loans enabled, excluding the consumer finance subsidiary, was 3.7% as of June 30, 2026, as compared to 3.4% as of March 31, 2026. DPD 90+ delinquency rate for general unsecured loans was 3.9% as of June 30, 2026, as compared to 3.6% as of March 31, 2026. DPD 90+ delinquency rate for secured loans was 3.1% as of June 30, 2026, as compared to 3.0% as of March 31, 2026.

As of June 30, 2026, the non-performing loan (NPL) ratio[5] for consumer finance loans was 1.3% as compared to 1.4% as of March 31, 2026.

[1] The take rate of retail credit enablement business is calculated by dividing the aggregated amount of loan enablement service fees, post-origination service fees, net interest income (excluding revenue from PAObank and LUAN credit subsidiaries), guarantee income and the penalty fees and account management fees by the average outstanding balance of loans enabled for each period.

[2] C-M3 flow rate estimates the percentage of current loans that will become non-performing at the end of three months, and is defined as the product of (i) the loan balance that is overdue from 1 to 29 days as a percentage of the total current loan balance of the previous month, (ii) the loan balance that is overdue from 30 to 59 days as a percentage of the loan balance that was overdue from 1 to 29 days in the previous month, and (iii) the loan balance that is overdue from 60 to 89 days as a percentage of the loan balance that was overdue from 30 days to 59 days in the previous month. Loans from legacy products and consumer finance subsidiary are excluded from the flow rate calculation.

[3] DPD 30+ delinquency rate refers to the outstanding balance of loans for which any payment is 30 to 179 calendar days past due divided by the outstanding balance of loans. Loans from legacy products, consumer finance subsidiary, Ping An Digital Bank and LU-AN credit subsidiaries and referral product are excluded from the calculation.

[4] DPD 90+ delinquency rate refers to the outstanding balance of loans for which any payment is 90 to 179 calendar days past due divided by the outstanding balance of loans. Loans from legacy products, consumer finance subsidiary, Ping An Digital Bank and LU-AN credit subsidiaries and referral product are excluded from the calculation.

[5] Non-performing loan ratio for consumer finance loans is calculated by using the outstanding balance of consumer finance loans for which any payment is 91 or more calendar days past due and not written off, and certain restructured loans, divided by the outstanding balance of consumer finance loans.

“Today’s results mark an important milestone for Lufax as we return to a normal, predictable reporting cadence,” said Mr. Xiang Ji, Chief Executive Officer of Lufax. “Over the past year, we completed the re-audit and audit of our financial statements from 2022 through 2025, engaged Deloitte Consulting Shanghai to strengthen our internal controls, and restructured our board so that independent non-executive directors now hold a majority. These initiatives to strengthen our governance and internal controls have allowed us to resume regular financial reporting to our shareholders and the broader investor community.

“The operating environment for small business owners remained difficult in the second quarter, with financing demand staying weak. In response, we are executing a strategy of prudent operations, anchored by our selective customer strategy, which is shifting our customer mix toward lower-risk borrowers through refined product design, targeted customer acquisition, and an upgraded risk management framework, and by AI-powered refined operations, which are deepening our use of artificial intelligence in customer segmentation and in strengthening relationships with existing customers. These efforts supported continued growth in our consumer finance business, with new consumer finance loan sales up 27.6% year over year, driving overall new loan sales up 4.6% year over year to RMB51.1 billion. Our asset quality also improved on a sequential basis, with our C-M3 flow rate declining to 1.0% and our consumer finance non-performing loan ratio improving to 1.3%, both down from the first quarter.

“Financially, we narrowed our net loss to RMB82 million in the second quarter, an 86.2% improvement from the same period last year, even as credit costs remained elevated amid a challenging environment for small business owners. We are encouraged by our continued operating efficiency gains, and under our refreshed leadership team, we remain focused on prudent, quality growth and on building long-term value for our shareholders.”

Second Quarter 2026 & First Half 2026 Financial Results

TOTAL INCOME

Total income was RMB6,227 million (US$918 million) in the second quarter of 2026, compared to RMB7,365 million in the same period of 2025, representing a decrease of 15.5%.

Three Months Ended June 30,

(In millions except percentages,
unaudited)

2025

2026

YoY

RMB

% of income

RMB

% of income

Technology platform-based income

1,399

19.0 %

1,103

17.7 %

(21.2 %)

Net interest income

3,199

43.4 %

3,467

55.7 %

8.4 %

Guarantee income

1,389

18.9 %

1,105

17.7 %

(20.4 %)

Other income

358

4.9 %

269

4.3 %

(24.9 %)

Investment income

1,021

13.9 %

283

4.5 %

(72.3 %)

Share of net profits of investments
accounted for using the equity method

–

Total income

7,365

100.0 %

6,227

100.0 %

(15.5 %)

Six Months Ended June 30,

(In millions except percentages,
unaudited)

2025

2026

YoY

RMB

% of income

RMB

% of income

Technology platform-based income

2,887

20.5 %

2,139

17.1 %

(25.9 %)

Net interest income

6,405

45.5 %

6,939

55.6 %

8.3 %

Guarantee income

2,816

20.0 %

2,341

18.7 %

(16.9 %)

Other income

708

5.0 %

546

4.4 %

(22.9 %)

Investment income

1,269

9.0 %

525

4.2 %

(58.6 %)

Share of net profits of investments
accounted for using the equity method

–

Total income

14,084

100.0 %

12,489

100.0 %

(11.3 %)

Technology platform-based income was RMB1,103 million (US$163 million) in the second quarter of 2026, compared to RMB1,399 million in the same period of 2025, representing a decrease of 21.2%. This decrease was primarily due to the decrease of retail credit and enablement service fees as a result of the decrease in loan balance.

Net interest income was RMB3,467 million (US$511 million) in the second quarter of 2026, compared to RMB3,199 million in the same period of 2025, representing an increase of 8.4%, mainly due to the expansion of our consumer finance & microloan lending business.

Guarantee income was RMB1,105 million (US$163 million) in the second quarter of 2026, compared to RMB1,389 million in the same period of 2025, representing a decrease of 20.4%, primarily attributable to a decrease in the average balance of off-balance sheet loans.

Other income was RMB269 million (US$40 million) in the second quarter of 2026, compared to other income of RMB358 million in the same period of 2025. This decrease was primarily due to a decrease in account management fees caused by decreased collections in the second quarter of 2026.

Investment income was RMB283 million (US$42 million) in the second quarter of 2026, compared to RMB1,021 million in the same period of 2025. This decrease was primarily attributable to the impact of changes in the valuations of certain assets.

TOTAL EXPENSES

Total expenses decreased by 12.7% to RMB6,197 million (US$913 million) in the second quarter of 2026 from RMB7,099 million in the same period of 2025. This decrease was mainly due to the decrease in sales and marketing expenses by 22.6% to RMB756 million (US$111 million) in the second quarter of 2026 from RMB977 million in the same period of 2025. Total expenses excluding credit impairment losses, finance costs and other (gains)/losses decreased by 27.5% to RMB1,974 million (US$291 million) in the second quarter of 2026 from RMB2,724 million in the same period of 2025.

Three Months Ended June 30,

(In millions except percentages, unaudited)

2025

2026

YoY

RMB

% of income

RMB

% of income

Sales and marketing expenses

977

13.3 %

756

12.1 %

(22.6 %)

General and administrative expenses

504

6.8 %

208

3.3 %

(58.7 %)

Operation and servicing expenses

1,008

13.7 %

804

12.9 %

(20.2 %)

Technology and analytics expenses

235

3.2 %

206

3.3 %

(12.3 %)

Credit impairment losses

4,279

58.1 %

4,141

66.5 %

(3.2 %)

Finance costs

0.6 %

102

1.6 %

126.7 %

Other gains or losses – net

0.7 %

(19)

(0.3 %)

(137.3 %)

Total expenses

7,099

96.4 %

6,197

99.5 %

(12.7 %)

Six Months Ended June 30,

(In millions except percentages, unaudited)

2025

2026

YoY

RMB

% of income

RMB

% of income

Sales and marketing expenses

2,069

14.7 %

1,702

13.6 %

(17.7 %)

General and administrative expenses

997

7.1 %

533

4.3 %

(46.5 %)

Operation and servicing expenses

2,049

14.5 %

1,767

14.1 %

(13.8 %)

Technology and analytics expenses

474

3.4 %

427

3.4 %

(9.9 %)

Credit impairment losses

7,858

55.8 %

8,654

69.3 %

10.1 %

Finance costs

0.6 %

230

1.8 %

177.1 %

Other gains or losses – net

0.5 %

(139)

(1.1 %)

(317.2 %)

Total expenses

13,593

96.5 %

13,175

105.5 %

(3.1 %)

Sales and marketing expenses decreased by 22.6% to RMB756 million (US$111 million) in the second quarter of 2026 from RMB977 million in the same period of 2025. The decrease was primarily due to the decreased new loan sales and outstanding balance of off-balance sheet loans, slightly offset by the compensation for the dismissal of low productivity direct sales employees.

General and administrative expenses decreased by 58.7% to RMB208 million (US$31 million) in the second quarter of 2026 from RMB504 million in the same period of 2025, this decrease was primarily due to our continuous personnel optimization and expense control measures.

Operation and servicing expenses decreased by 20.2% to RMB804 million (US$118 million) in the second quarter of 2026 from RMB1,008 million in the same period of 2025, primarily due to our expense control measures and the decrease in the loan balance.

Technology and analytics expenses decreased by 12.3% to RMB206 million (US$30 million) in the second quarter of 2026 from RMB235 million in the same period of 2025, primarily due to our improved efficiency and the expense control measures we adopted.

Credit impairment losses decreased by 3.2% to RMB4,141 million (US$610 million) in the second quarter of 2026 from RMB4,279 million in the same period of 2025, primarily due to the decreased provision of loans and receivables as a result of the decreased risk-bearing loan balance, partially offset by the increase in the actual losses.

Finance costs increased by 126.7% to RMB102 million (US$15 million) in the second quarter of 2026 from RMB45 million in the same period of 2025, mainly due to the combined effects of the increased loan interest expenses and decreased deposit interest income.

Other gains were RMB19 million (US$3 million) in the second quarter of 2026, compared to other losses of RMB51 million in the same period of 2025. The change was primarily due to the foreign exchange gains in 2026 and the one-time tax overdue penalty of a certain subsidiary we recognized in 2025.

NET LOSS

Net loss was RMB82 million (US$12 million) in the second quarter of 2026, compared to a net loss of RMB594 million in the same period of 2025, as a result of the aforementioned factors.

LOSS PER ADS

Basic and diluted loss per American Depositary Share (“ADS”) were both RMB0.24 (US$0.04) in the second quarter of 2026. Each ADS represents two ordinary shares.

BALANCE SHEET

The Company had RMB19,213 million (US$2,832 million) in cash at bank as of June 30, 2026, as compared to RMB22,086 million as of December 31, 2025. Net assets of the Company amounted to RMB81,448 million (US$12,004 million) as of June 30, 2026, as compared to RMB82,041 million as of December 31, 2025.

SEMI-ANNUAL DIVIDEND

In light of the net loss recorded for the six months ended June 30, 2026, the board of directors of the Company has determined that no semi-annual dividend shall be paid at this time.

Conference Call Information

The Company’s management will hold an earnings conference call at 9:00 P.M. U.S. Eastern Time on Tuesday, August 18, 2026 (9:00 A.M. Beijing Time on Wednesday, August 19, 2026) to discuss the financial results. For participants who wish to join the call, please complete online registration using the link provided below in advance of the conference call. Upon registering, each participant will receive a set of participant dial-in numbers, the event passcode, and a unique access PIN, which can be used to join the conference call.

Registration Link: https://dpregister.com/sreg/10211235/104a7ebdba9

A live and archived webcast of the conference call will also be available at the Company’s investor relations website at https://ir.lufaxholding.com.

The replay will be accessible through August 24, 2026, by dialing the following numbers:

United States:

1-855-669-9658

International:

1-412-317-0088

Conference ID:

8048734

About Lufax

Lufax is a leading financial services enabler for small business owners in China. The Company offers financing products designed principally to address the needs of small business owners and others. In doing so, the Company has established relationships with over 85 financial institutions in China as funding partners, many of which have worked with the Company for over three years.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.7851 to US$1.00, the rate in effect as of June 30, 2026, as certified for customs purposes by the Federal Reserve Bank of New York.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about Lufax’s beliefs and expectations, are forward-looking statements. Lufax has based these forward-looking statements largely on its current expectations and projections about future events and financial trends, which involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. These forward-looking statements include, but are not limited to, statements about Lufax’s goals and strategies; Lufax’s future business development, financial condition and results of operations; expected changes in Lufax’s income, expenses or expenditures; expected growth of the retail credit enablement; Lufax’s expectations regarding demand for, and market acceptance of, its services; Lufax’s expectations regarding its relationship with borrowers, platform investors, funding sources, product providers and other business partners; general economic and business conditions; and government policies and regulations relating to the industry Lufax operates in. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in Lufax’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and Lufax does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Investor Relations Contact

Lufax Holding Ltd
Email: Investor_Relations@lu.com

ICR, LLC
Robin Yang
Tel: +1 (646) 308-0546
Email: lufax.ir@icrinc.com

LUFAX HOLDING LTD

UNAUDITED INTERIM CONDENSED CONSOLIDATED INCOME STATEMENTS

(All amounts in thousands, except share data, or otherwise noted)

Three Months Ended June 30,

Six Months Ended June 30,

2025

2026

2025

2026

RMB

USD

RMB

USD

Technology platform-based
income

1,398,653

1,103,160

162,586

2,886,548

2,139,006

315,250

Net interest income

3,198,815

3,467,456

511,040

6,404,677

6,938,771

1,022,648

Guarantee income

1,389,093

1,104,808

162,829

2,815,970

2,341,226

345,054

Other income

357,751

269,046

39,652

708,182

545,648

80,419

Investment income

1,021,076

282,917

41,697

1,268,872

524,506

77,303

Share of net profits of
investments accounted for using
the equity method

–

Total income

7,365,388

6,227,387

917,803

14,084,249

12,489,157

1,840,674

Sales and marketing expenses

(976,820)

(755,731)

(111,381)

(2,068,958)

(1,702,098)

(250,858)

General and administrative
expenses

(503,966)

(208,410)

(30,716)

(996,698)

(533,168)

(78,579)

Operation and servicing expenses

(1,008,428)

(803,797)

(118,465)

(2,048,817)

(1,767,339)

(260,474)

Technology and analytics
expenses

(234,775)

(205,877)

(30,343)

(474,339)

(427,495)

(63,005)

Credit impairment losses

(4,279,023)

(4,140,714)

(610,266)

(7,858,211)

(8,654,238)

(1,275,477)

Finance costs

(44,798)

(102,067)

(15,043)

(82,680)

(229,681)

(33,851)

Other gains/(losses) – net

(51,107)

19,194

2,829

(63,586)

139,400

20,545

Total expenses

(7,098,917)

(6,197,402)

(913,384)

(13,593,289)

(13,174,619)

(1,941,699)

Profit before income tax
expenses

266,471

29,985

4,419

490,960

(685,462)

(101,025)

Income tax expenses

(860,673)

(111,666)

(16,458)

(1,009,935)

(8,807)

(1,298)

Net profit/(loss) for the period

(594,202)

(81,681)

(12,038)

(518,975)

(694,269)

(102,323)

Net profit/(loss) attributable to:

Owners of the Group

(711,523)

(200,534)

(29,555)

(767,235)

(895,889)

(132,038)

Non-controlling interests

117,321

118,853

17,517

248,260

201,620

29,715

Net profit/(loss) for the period

(594,202)

(81,681)

(12,038)

(518,975)

(694,269)

(102,323)

Earnings per share

-Basic earnings/(loss) per share

(0.41)

(0.12)

(0.02)

(0.44)

(0.52)

(0.08)

-Diluted earnings/(loss) per share

(0.41)

(0.12)

(0.02)

(0.44)

(0.52)

(0.08)

-Basic earnings/(loss) per ADS

(0.82)

(0.24)

(0.04)

(0.88)

(1.04)

(0.15)

-Diluted earnings/(loss) per ADS

(0.82)

(0.24)

(0.04)

(0.88)

(1.04)

(0.15)

LUFAX HOLDING LTD

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

(All amounts in thousands, except share data, or otherwise noted)

As of December 31,

As of June 30,

2025

2026

RMB

USD

Assets

Cash at bank

22,086,187

19,212,913

2,831,633

Restricted cash

19,035,154

17,172,831

2,530,962

Financial assets at fair value through profit or loss

34,666,573

33,358,855

4,916,487

Financial assets at fair value through other comprehensive income

6,182,229

7,807,536

1,150,688

Financial assets at amortized cost

–

725,829

106,974

Financial assets held under resale agreements

1,577,029

62,003

9,138

Accounts and other receivables and contract assets

4,240,132

3,259,862

480,444

Loans to customers

102,290,974

102,244,031

15,068,906

Deferred tax assets

6,978,651

7,898,793

1,164,138

Property and equipment

54,137

50,198

7,398

Investments accounted for using the equity method

–

Intangible assets

911,603

907,856

133,801

Right-of-use assets

265,523

220,513

32,500

Goodwill

9,169,031

9,159,144

1,349,891

Other assets

657,424

619,479

91,300

Total assets

208,114,647

202,699,843

29,874,260

Liabilities

Payable to platform users

667,794

554,805

81,768

Borrowings

63,535,913

65,373,940

9,634,927

Customer deposits

9,456,934

11,806,199

1,740,018

Financial assets sold under repurchase agreements

1,662,008

1,412,301

208,147

Current income tax liabilities

396,643

423,459

62,410

Accounts and other payables and contract liabilities

7,557,062

6,445,209

949,906

Payable to investors of consolidated structured entities

28,921,222

21,992,967

3,241,362

Financing guarantee liabilities

5,647,343

5,093,690

750,717

Deferred tax liabilities

297,931

229,278

33,791

Lease liabilities

259,764

217,281

32,023

Convertible promissory note payable

6,503,803

6,542,811

964,291

Other liabilities

1,167,155

1,159,713

170,921

Total liabilities

126,073,572

121,251,653

17,870,282

Equity

Share capital

117

Share premium

27,027,931

3,983,424

Treasury shares

(5,642,768)

(831,641)

Other reserves

1,746,502

1,848,034

272,367

Retained earnings

56,698,381

55,802,492

8,224,270

Total equity attributable to owners of the Company

79,830,163

79,035,806

11,648,436

Non-controlling interests

2,210,912

2,412,384

355,541

Total equity

82,041,075

81,448,190

12,003,978

Total liabilities and equity

208,114,647

202,699,843

29,874,260

LUFAX HOLDING LTD

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(All amounts in thousands, except share data, or otherwise noted)

Three Months Ended June 30,

Six Months Ended June 30,

2025

2026

2025

2026

RMB

USD

RMB

USD

Net cash generated from/(used in)
operating activities

3,216,091

3,643,793

537,029

5,409,129

(575,893)

(84,876)

Net cash (used in)/generated from
investing activities

(3,441,228)

(1,968,917)

(290,182)

(2,810,078)

1,504,970

221,805

Net cash (used in) financing activities

(291,861)

(1,540,257)

(227,006)

(1,159,168)

(1,959,043)

(288,727)

Effects of exchange rate changes on
cash and cash equivalents

(11,109)

(17,632)

(2,599)

(17,695)

(45,204)

(6,662)

Net (decrease)/increase in cash and
cash equivalents

(528,107)

116,987

17,242

1,422,188

(1,075,170)

(158,460)

Cash and cash equivalents at the
beginning of the period

13,748,730

9,896,916

1,458,625

11,798,435

11,089,073

1,634,327

Cash and cash equivalents at the end
of the period

13,220,623

10,013,903

1,475,867

13,220,623

10,013,903

1,475,867

View original content:https://www.prnewswire.com/news-releases/lufax-reports-second-quarter-2026-financial-results-302854312.html

SOURCE Lufax Holding Ltd

Technology

GOFO White Paper Highlights Structural Shift in U.S. Last-Mile Delivery

Published

45 minutes ago

November 10, 2026

The white paper examines changing carrier dynamics, fragmented e-commerce demand and strategies for shippers navigating an evolving parcel market.

LOS ANGELES, Nov. 9, 2026 /PRNewswire/ — GOFO, a technology-driven global last-mile delivery carrier, highlights a structural shift in the U.S. parcel market in its industry white paper, How Fragmenting E-Commerce Is Rebuilding the U.S. Last Mile, first introduced at PARCEL Forum 2026 in September. Drawing on third-party market research, industry data and customer case studies, the report examines how changing strategies among established carriers and increasingly fragmented e-commerce demand are creating room for a broader range of delivery networks and reshaping carrier selection for shippers.

A Changing U.S. Parcel Market

According to ShipMatrix data cited in the white paper, U.S. domestic parcel volume reached 23.9 billion packages in 2025, an increase of 0.4% year over year (ShipMatrix, 2026). Amazon Logistics surpassed USPS as the nation’s largest domestic parcel carrier by volume, delivering 6.7 billion packages, up 9.9%, compared with USPS’s 6.6 billion (ShipMatrix, 2026).

Amazon’s expansion represents a significant development in a market historically dominated by UPS, FedEx and USPS. Meanwhile, UPS has been reducing lower-value Amazon volume, FedEx is emphasizing higher-value shipment segments, and USPS continues competing for lightweight e-commerce deliveries while adjusting its pricing and service mix.

On the demand side, e-commerce is becoming increasingly fragmented. According to eMarketer estimates cited in the report, Amazon accounted for approximately 40.5% of U.S. retail e-commerce sales in 2025, with the remaining 59.5% distributed across other marketplaces, retailer websites and direct-to-consumer channels (eMarketer, 2025). This diversification is creating more varied shipment patterns, fulfillment arrangements and delivery requirements.

The Rise of Alternative Carriers

As traditional carrier strategies and e-commerce demand evolve, alternative delivery networks are expanding their presence in the U.S. parcel market. ShipMatrix’s “Other Carriers” category, which includes retailers’ own delivery networks and independent regional carriers, reached approximately 2.5 billion packages in 2025, with reported growth of 13% (ShipMatrix, 2026).

The white paper identifies a range of emerging operating models, including cross-border specialists, technology-enabled urban delivery platforms and super-regional networks. Rather than following a single standardized approach, these carriers serve different geographic markets, shipment profiles and fulfillment needs.

This evolving landscape is giving shippers a broader range of delivery options. The report recommends evaluating carriers based on total transportation costs, geographic coverage, service reliability and technology integration, while maintaining diversified carrier relationships to reduce dependence on individual networks.

Customer Case Studies Highlight the Importance of Carrier Readiness

Drawing on GOFO’s experience with Dr. Squatch and ShipMonk, the white paper illustrates how alternative carriers can support shippers when existing delivery arrangements are disrupted.

According to the case studies, Dr. Squatch expanded its relationship with GOFO from a monitored pilot to a core carrier arrangement after an existing provider became unavailable at short notice. During the transition, the average calendar transit time improved from 3.75 to 3.15 days.

ShipMonk faced an unplanned carrier transition within its Economy delivery tier. GOFO became operational within ShipMonk’s Virtual Carrier Network in 10 days and completed onboarding across its network nodes within 35 days. Over a comparable off-peak period, average transit time improved from 2.56 to 2.10 business days.

Both cases illustrate how advance carrier integration and diversified delivery options can support service continuity during unexpected disruptions.

Looking Ahead

The white paper concludes that U.S. last-mile delivery is undergoing a long-term structural realignment rather than a temporary market cycle. As delivery networks diversify, operational flexibility, real-time shipment visibility and technology integration are expected to become increasingly important in carrier evaluation.

For shippers, adapting to this environment will require delivery strategies that balance cost, coverage, reliability and flexibility across different fulfillment models.

The full white paper, How Fragmenting E-Commerce Is Rebuilding the U.S. Last Mile, provides additional market analysis, customer case studies and a detailed carrier evaluation framework. It is available on GOFO’s website.

About GOFO

GOFO is a technology-driven global last-mile delivery carrier founded in Los Angeles in August 2023. Guided by the brand philosophy “Drive Efficiency, Deliver Trust”, GOFO combines advanced technology with localized operations to provide reliable and scalable delivery solutions. GOFO’s network spans 47 U.S. states, supported by more than 300 hubs and stations. In Canada, GOFO has established a delivery network anchored by two primary hubs in Vancouver and Toronto, with service coverage across five provinces. Supported by an integrated North American network, automated sortation, intelligent routing, and disciplined operations, GOFO provides GOFO Parcel for standard parcel delivery and GOFO Ground for heavyweight, oversized, and complex shipments, delivering efficient, reliable, and scalable last-mile solutions across diverse markets. More information is available at gofo.com.

Media Contact:

Cindy L.
Public Relations, GOFO
public.relations@gofo.com
LinkedIn

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SOURCE GOFO

Technology

A.I.Matics’ AIM-T1 Named CES Innovation Awards® 2027 Honoree in Two Categories

Published

45 minutes ago

November 10, 2026

AI vision inspection platform recognized in Artificial Intelligence and Construction & Industrial Tech

SEOUL, South Korea, Nov. 9, 2026 /PRNewswire/ — A.I.Matics’ AIM-T1, an AI vision inspection platform that helps electronics manufacturers identify defects and adapt inspections to new products, has been named a CES 2027 Innovation Awards Honoree in two categories: Artificial Intelligence and Construction & Industrial Tech.

AIM-T1 is designed for quality, process and manufacturing engineers working with products such as camera modules, semiconductor packages and printed circuit board assemblies. It addresses a recurring challenge in electronics production: maintaining consistent inspection as product designs and manufacturing requirements change.

Introducing a new product can require manufacturers to collect defect images, revise inspection criteria and adjust imaging equipment. These tasks can place additional demands on experienced inspectors and AI engineers, particularly in facilities with frequent product changeovers.

AIM-T1 combines modular imaging hardware with software-defined inspection to help teams adapt their inspection workflows on a common platform. The system uses reference samples of acceptable products to establish inspection criteria and identify deviations that may indicate defects.

The platform incorporates world model technology and in-context learning. Its optical system combines liquid lens technology with electronic focus stacking to capture images at multiple focal planes without mechanical Z-axis movement. Camera resolution, lens magnification, lighting and inspection configurations can be adjusted to suit different applications.

Operators can use a dedicated software interface to configure inspection criteria, review results and refine inspection models. The platform is designed to reduce reliance on specialized expertise for each product changeover by making inspection knowledge easier to reuse.

For electronics manufacturers reshoring production or adding regional capacity, transferring inspection expertise is an important part of bringing new facilities online. AIM-T1 is designed to make inspection workflows easier to reuse across products and production lines, helping quality and manufacturing teams establish inspection processes at new locations.

Organized by the Consumer Technology Association (CTA), the CES Innovation Awards program recognizes outstanding design and engineering in consumer technology products. CES 2027 will take place Jan. 6–9 in Las Vegas.

A.I.Matics plans to showcase AIM-T1 at CES 2027 and meet with manufacturers, automation equipment integrators and potential distribution partners. Booth and meeting details will be announced once confirmed.

For product information, visit https://vision.aimatics.ai/.

* The CES Innovation Awards are based upon descriptive materials submitted to the judges. CTA did not verify the accuracy of any submission or of any claims made and did not test the item to which the award was given.

About A.I.Matics

A.I.Matics is a South Korean Vision AI company and a subsidiary of Dreamtech. Established as an in-house venture at Hyundai Motor Company in 2000 and incorporated in 2003, the company built its expertise in automotive vision recognition by supplying lane departure warning systems to automakers. Today, it develops industry-specific AI solutions for transportation, logistics and manufacturing.

The company combines its proprietary AI engine, aimNet, with imaging technology and application software to help businesses identify risks, detect anomalies and make operational decisions. Its portfolio includes AI-powered driver safety cameras, the aid fleet management platform and AIM-T1, a software-defined AI vision inspection platform for advanced electronics manufacturing. The company also develops intelligent process and operations management solutions and AI chatbots for logistics call centers.

For more information, visit https://www.aimatics.ai/en.

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SOURCE A.I.Matics

Technology

The 19th Europe-China Business and Technology Cooperation Fair boosts business cooperation

Published

46 minutes ago

November 10, 2026

BEIJING, Nov. 10, 2026 /PRNewswire/ — This is a report from China.org.cn:

The 19th Europe-China Business and Technology Cooperation Fair was held in Chengdu, Sichuan province, from Oct. 21 to 23, bringing together businesses and institutions from China and Europe to explore opportunities in trade, investment, and technological innovation.

Co-organized by the China Chamber of International Commerce and the European Union Chamber of Commerce in China, the fair featured the theme “Dialogue and Cooperation for Shared Benefits and Prosperity.”

This year’s fair attracted more than 1,800 participants from over 30 countries, representing 869 enterprises and institutions. Delegations from Portugal, Switzerland, France, the United Kingdom, Spain, and other countries attended, alongside multinational companies including CMA CGM, Saint-Gobain, ABB, AstraZeneca, Bayer, and Siemens.

For the first time, the fair introduced an intelligent matchmaking system, complemented by manual coordination, to improve connections between businesses. A total of 174 Chinese and foreign companies held 365 one-on-one matchmaking meetings, generating more than 160 cooperation intentions and helping turn business discussions into potential projects.

The fair focused on sectors including new energy and environmental protection, biomedicine, agri-food, intelligent robotics, cutting-edge technologies, vocational education, and commercial legal services. Investment and trade promotion events were also held by Hainan, Tianjin, Taicang in Jiangsu province, and other regions to connect with European partners. Participants also visited industrial parks and enterprises to explore opportunities and facilitate project development.

The event also saw progress in regional and international partnerships. Loja, Spain, and Pengzhou, Sichuan province, signed a letter of intent to establish a friendly cooperative relationship. More than 20 Portuguese enterprises and institutions attended the fair, while Portugal’s secretary of state for agriculture delivered remarks at a sub-event. The United Kingdom, the fair’s country of honor, was also involved in organizing a China-Europe exchange on cross-border cooperation in biomedicine.

As global economic recovery remains uneven, the fair continues to provide a platform for China-Europe dialogue and business exchanges, fostering cooperation in technology, market access, and investment.

The 19th Europe-China Business and Technology Cooperation Fair boosts business cooperation

http://www.china.org.cn/2026-11/06/content_118764228.shtml

View original content:https://www.prnewswire.co.uk/news-releases/the-19th-europe-china-business-and-technology-cooperation-fair-boosts-business-cooperation-302934225.html