(Yicai Global) Dec.2 -- China’s second-largest personal financial services platform Shanghai Lujiazui International Financial Asset Exchange -- better known as Lufax -- logged over CNY13 billion (USD1.9 billion) in income in a yearly 10.5 percent rise, per the third-quarter financial report it released yesterday, the first since its US listing.

Shanghai-based Lufax projects total income in the range of CNY51 billion to CNY51.5 billion and adjusted net profit in a CNY13.2 billion to CNY13.4 billion spread. This excludes costs of servicing non-recurring C-round convertible bonds.

Net profit was CNY2.2 billion in the quarter in a 36.8 percent annual drop stemming from CNY1.3 billion in non-recurring expenses from the firm’s C-round bond restructuring prior to its initial public offering. Excluding this, adjusted net profit tallied CNY3.5 billion in a 2 percent yearly rise.

Lufax shares [NYSE:LU] fell 8.93 percent to USD15.30 in after-hours after closing up 2 percent at USD16.80 yesterday.

The company's outstanding balance of facilitated loans had climbed 21.4 percent to CNY535.8 billion (USD78.9 billion) as of Sept. 30 from CNY441.2 billion on last year’s same date.

The ranks of its borrowers had swelled 16.7 percent to some 14 million as of Sept. 30 from about 12 million on that day a year ago.

Secured loans the company facilitated that became delinquent for 1 to 89 days were 0.1 percent in September, as against 0.7 percent during the peak of China’s Covid-19 pandemic in February. Unsecured delinquent loans were 0.5 percent in September, as compared to 1.0 percent during the crest of the pestilence in China.

Editor: Ben Armour