Ping An Insurance and Lufax issued a joint announcement on the Hong Kong Stock Exchange that due to Ping An Insurance choosing to receive corresponding dividends with stock dividend method in Lufax's special dividend, (after the dividend is distributed, Lufax's shareholdings controlled by Ping An Insurance will reach 56.82%), it will result in a passive merger and acquisition of Lufax and trigger the mandatory general offer under the Hong Kong Takeovers Code. In response, Lufax stated that it is paying special dividends to reward investors. As the largest shareholder of Lufax, Ping An Insurance has chosen to receive the special dividend with stocks and will passively merge and acquire Lufax. This choice will further enhance the positive synergies between Lufax and Ping An Insurance, and Lufax is confident in this company's long-term development prospects. The announcement also shows that Ping An Insurance has no intention of privatizing Lufax and will continue to maintain Lufax's dual listing status in Hong Kong and the United States, and hopes that Lufax will continue its existing main business direction.