Local media reports that Ping An Insurance (02318.HK)'s deputy general manager, Fu Xin, stated that HSBC is an important financial investment of the group and a significant part of its insurance capital allocation. The changes in the holding of HSBC shares are based on the market situation and the changes in the position of individual stocks.
Regarding Lufax Holdings (06623.HK)'s net loss of 1.663 billion RMB in the first half, Fu Xin responded that Lufax's proportion in Ping An Insurance is very small and will not have any impact. Furthermore, Lufax's non-performing loan ratio has improved for two consecutive quarters, and its non-performing loan ratio and financial performance are expected to turn positive in the future.