HONG KONG -- Shenzhen-based financial conglomerate Ping An Insurance Group said Friday that its online lending operator Lufax Holdings was no longer loss-making as it prepares for an initial public offering.
"Lufax's development is extremely robust. [It] actually turned around in the first half. We are very confident that it could stay profitable for the full-year," said Jessica Tan Sin-yin, Ping An's chief operating officer and chief information officer during the Chinese insurance group's earnings announcement.
