【 Introduction 】 An important executive of Lufax, Ji Kuisheng, has resigned
Reporter Jiang You from China Fund News
Ji Kuisheng, a well-known core executive of Lufax, an important Internet financial platform in China, resigned. Ji Kuisheng joined Ping An Group of China in 2011 and co founded Lufax with his team.
Lujin Holdings disclosed that Ji Kuisheng was affected by personal reasons
no longer serves as Executive Director and Co CEO
Lujin Holdings, which is listed on the US and Hong Kong stock markets, recently disclosed three director changes, with the most notable being the retirement of "star executive" Ji Kuisheng as executive director and joint CEO. The announcement stated that Ji Kuisheng's resignation is "to invest more time in his personal matters".
Lujin Holdings announced that Ji Kuisheng has resigned as an executive director and joint CEO, Huang Yuqiang has resigned as a non-executive director, and Zhang Xudong has resigned as an independent non-executive director. Among the three directors who resigned this time, Huang Yuqiang underwent director changes and adjustments due to changes in his tenure at Ping An Group; Zhang Xudong is an independent director who has served as a controlling director of Lufax for over 6 years. His resignation this time is a normal adjustment.
At the same time, the board of directors of Lujin Holdings appointed Zhu Peiqing as an executive director, and Guo Shibang and Liu Hui as non-executive directors. Among them, Zhu Peiqing is the current Chief Financial Officer of Lufax Holdings, Guo Shibang is the Assistant General Manager and Chief Risk Officer of Ping An Group, and Liu Hui is the Deputy General Manager of Ping An Group's Risk Management Department (in charge of work).
Lujin Holdings stated that the change in board members this time is mainly due to the normal job changes of the departing directors, and there is no disagreement between the three directors and the board. The company sincerely appreciates the important contributions made by the three departing directors during their tenure. The newly appointed board members will continue to maintain good collaboration between the company and Ping An Group.
Public information shows that Ji Kuisheng was born in 1967 and is 57 years old this year. He joined Ping An Insurance in 2011 and served as Chief Innovation Officer from May 2011 to April 2013. Since January 2021, he has been the Co CEO of Lufax Holdings, a director since December 2014, and the CEO from March 2016 to January 2021. Since September 2011, Ji Kuisheng has served as the legal representative of Shanghai Lujin Institute.
Ji Kuisheng graduated from Middlebury College in the United States in 1989 with a bachelor's degree. Ji Kuisheng has more than 20 years of transnational and local work experience in the financial investment field. He was awarded the 2014 "Friendship Award" by the Chinese government for his innovative achievements in the field of Internet finance.
Lufax Holdings stated that Ji Kuisheng has been committed to China's fintech industry for over a decade, making long-term efforts and contributions to Lufax Holdings becoming a leading financial service empowerment institution for small and micro business owners in China. The company expresses sincere gratitude.
Lufax Holdings will distribute a special dividend this year,
Ping An holds 56.82% of the shares through stock dividends, with a controlling stake included in the consolidated statement
On the evening of July 3rd this year, Ping An of China announced that as of the date of this announcement, the company holds a total of 41.40% of the equity of Lufax Holdings through its wholly-owned subsidiaries Anke Technology and Ping An Overseas Holdings. After the special dividend option of using stocks as a proxy for dividends, Ping An of China's total shareholding in Lufax Holdings reached 56.82%, and Lufax Holdings was included in the consolidated financial statements.
China Ping An stated that according to the series of announcements by Lufax, the Lufax shareholders' meeting has approved the declaration and distribution of a special dividend (special dividend plan) from the reserve share premium account, and eligible shareholders can choose to receive the special dividend in the form of new shares (in lieu of shares). Anke Technology and Ping An Overseas Holdings have chosen to distribute dividends through a special dividend plan, and will receive a total of 509880257 new shares issued by Lujin. It is expected that these new shares will begin trading on the Hong Kong Stock Exchange Limited at 9:00 am (Hong Kong time) on July 31, 2024.
After Anke Technology and Ping An Overseas Holdings chose to use stock for interest, Lujin Holdings became a subsidiary of Ping An in China and was included in the scope of consolidated financial statements. Based on this, according to the final selection result of the special dividend plan of Lufax, after the completion of this special dividend distribution, the equity ratio of Lufax held by Ping An through the aforementioned subsidiary will increase to 56.82%. Lufax will become a subsidiary of Ping An Holdings and be included in the scope of consolidated financial statements. The inclusion of Lufax in the consolidated financial statements will not have a significant impact on the financial condition and operating results of Ping An in China.
The announcement released by Lufax on the same day stated that after Lufax's tender delivery, Ping An hopes that Lufax will continue its main business. China Ping An has no intention of reallocating any fixed assets of Lufax (except for those carried out in the daily and general business processes of Lufax Group) or terminating the employment of Lufax Group employees.
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