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Ping An's online lending platform Lufax turns profit ahead of IPO

Management tight-lipped about expected stock market debut

From left, Ping An Insurance Chief Investment Officer Timothy Chan Tak-yin, Chief Operating Officer and Chief Information Officer Jessica Tan Sin-yin, President Alex Ren Huichan, and Chief Financial Officer Jason Yao Bo at the company's interim earnings announcement in Hong Kong on Aug. 18. (Photo by Joyce Ho)

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.

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