Lufax Holding Ltd (NYSE:LU) Q2 2023 Results Conference Call August 21, 2023 9:00 PM ET
Company Participants
Liu Xinyan - Head of Board Office and Capital Markets
Y. S. Cho - Co-CEO and Chairman of the Board
Gregory Gibb - Co-CEO and Director
Siu Choy - Chief Financial Officer
Conference Call Participants
Alex Ye - UBS
Emma Chu - Bank of America
Chiyao Huang - Morgan Stanley
Yada Li - CICC
Operator
Ladies and gentlemen, thank you for standing by, and welcome to the Lufax Holding Limited Second Quarter 2023 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.
Liu Xinyan
Thank you very much. Hello, everyone, and welcome to our second quarter 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 latest business strategies, the macroeconomic trend and the recent development of our business. Our co-CEO, Mr. Greg Gibb, will then go through our second 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.
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
Thank you for joining today's call. During a complicated macro environment that has been particularly challenging for small businesses, we have doubled down on our efforts to optimize costs and adjust our strategy to achieve our U-shaped recovery. While we continue to make progress towards this recovery, we have also been embracing new initiatives to achieve long-term stability. In the second quarter, we were able to improve our bottom line sequentially and advance our efforts to attain higher quality new loans we enabled. We also drew closer to our goal of transitioning to a 100% guarantee model and continued our strategies to mitigate risk and diversify business.