Lufax Holding Ltd (LU) Q4 2022 Earnings Call Transcript

Lufax Holding Ltd (NYSE:LU) Q4 2022 Results Conference Call March 12, 2023 9:00 PM ET

Company Participants

Xinyan Liu - Head, Board Office and Capital Markets

Y.S. Cho - Chairman and CEO

Greg Gibb - Co-CEO

David Choy - CFO

Conference Call Participants

Yada Li - CICC

Richard Xu - Morgan Stanley

Alex Ye - UBS

Emma Xu - Bank of America

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Lufax Holding Limited Fourth Quarter 2022 Earnings Call. [Operator Instructions] Please note, this event is being recorded.

Now, I would like to hand the conference over to your speaker host today, Ms. Liu Xinyan, the company's Head of Board Office and Capital Markets. Please go ahead, ma'am.

Xinyan Liu

Thank you very much. Hello, everyone, and welcome to our fourth quarter 2022 earnings conference call. Our quarterly financial and operating results were released by our newswire services earlier today and are currently available online. Today, you will hear from our Chairman and CEO, Mr. Y.S. Cho, who will provide an update of our business performance, the macroeconomic impact and our business strategies. Our Co-CEO, Mr. Greg Gibb, will then go through our fourth quarter results and provide more details on our business priorities. Afterwards, our CFO, Mr. David Choy, will offer a closer look into our financials before we open up the call for questions.

Before we continue, I would like to refer you to our safe harbor statement in our earnings press release, which also applies to this call as we will be making forward-looking statements. Please also note that we may discuss non-IFRS measures today, which are more thoroughly explained and are reconciled to the comparable measures reported under the International Financial Reporting Standards in our earnings release and filings with the SEC.

With that, I'm now pleased to turn over the call to Mr. Y.S. Cho, Chairman and CEO of Lufax, please.

Y.S. Cho

Thanks for joining. I would like to start by providing some perspective on where we are and on our business performance in Q4. While the fourth quarter was undoubtedly challenging, we are confident in our strategy to achieve a U-shaped recovery. At present, we must be patient, prudent and prepared. We need to be patient for the macroeconomic tailwinds to flow through to the SMB segment, be prudent in implementing new risk strategies and embedding lessons learned from the pandemic period and be prepared to gear up new business when the improved environment arrives.