Company:Lufax
 | |
| Type | Public |
|---|---|
| NYSE: LU | |
| Industry | Personal finance, Software |
| Founded | 2011 |
| Headquarters | Shanghai China |
| Products | Financial services Peer-to-peer lending |
| Website | lu.com |
Lufax (Chinese: 陆金所; pinyin: Lùjīnsuǒ), full name Shanghai Lujiazui International Financial Asset Exchange Co., Ltd., is an online Internet finance marketplace headquartered in Lujiazui, Shanghai.[1][2] Founded in 2011, it is an associate of China Ping An Group.[3]
The company was founded in September 2011,[4] and started with P2P lending as the only service. It is the second largest peer-to-peer lender in China .[5] Now the company is said to be branching out their business gradually, becoming a much broader platform that work together with funds, insurance companies and financial license holders.[6] The platform makes money by matching borrowers with investors, collecting a 4% fee on each loan. Since the start of the business, the company has arranged more than 200,000 peer-to-peer loans that worth a total of $2.5 billion.[7]
By 2015, Ping An Insurance (Group) Co. owns 43% of the company. On the surface Lufax is a part of Ping An Group, and maintains a good relationship with the Chinese government.[8]
References
- ↑ Lufax. "About Us". http://www.lufax.com/en/About%20company.html.
- ↑ "Company Overview of Shanghai Lujiazui International Financial Asset Exchange Co., Ltd.". Bloomberg.com. April 7, 2014. https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=215513933.
- ↑ Jason Jones (May 4, 2014). "The Most Important Chinese P2P Lending Companies". Lend Academy. http://www.lendacademy.com/the-most-important-chinese-p2p-lending-companies/.
- ↑ Kwong Man-ki (April 12, 2015). "Mainland China's peer-to-peer pioneer lauds big innovation for a big place". South China Morning Post China. http://www.scmp.com/news/china/article/1764380/mainland-chinas-peer-peer-pioneer-lauds-big-innovation-big-place.
- ↑ Paul Schulte (April 7, 2015). "3 Reasons to Buy China". Barron's. http://online.barrons.com/articles/3-reasons-to-buy-china-1428457115.
- ↑ Kwong Man-ki (April 12, 2015). "Lufax rides internet finance boom". South China Morning Post. http://www.scmp.com/business/companies/article/1764866/lufax-rides-internet-finance-boom.
- ↑ Rick Carew and Telis Demos (April 16, 2015). "China's Lufax Valued at Nearly $10 Billion in Recent Funding Round". The Wall Street Journal. https://www.wsj.com/articles/chinas-lufax-valued-at-nearly-10-billion-in-recent-funding-round-1429164241.
- ↑ Zeke Faux (April 15, 2015). "Most Chinese Peer-to-Peer Lenders Will Fail, Lufax's Gibb Says". Bloomberg Business. https://www.bloomberg.com/news/articles/2015-04-15/most-chinese-peer-to-peer-lenders-will-fail-lufax-s-gibb-says.
External links
 |  |
