Added to YB: 2024-06-17
Pitch date: 2024-06-17
LU [bearish]
Lufax Holding Ltd
+40.68%
current return
Author Info
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Company Info
Lufax Holding Ltd engages in the retail credit and enablement business to borrowers and institutions in the People’s Republic of China.
Market Cap
$8.9B
Pitch Price
$2.36
Price Target
N/A
Dividend
N/A
EV/EBITDA
3.13
P/E
-3.99
EV/Sales
1.09
Sector
Consumer Finance
Category
special_situation
Closing Lufax
LU: Lufax mgmt altered convertible debt terms, allowing Ping An notes to convert at $2.32/share vs prior $12.76, potentially increasing shares outstanding to 1B+. Even if Lufax earns $550M by 2026, stock at nearly 5x those uncertain earnings. Exited position for ~40% return.
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