Exhibit 99.1

Lufax Reports Fourth Quarter and Full Year 2023 Financial Results

SHANGHAI, March 21, 2024/PRNewswire/ — Lufax Holding Ltd (“Lufax” or the “Company”) (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2023.

Fourth Quarter 2023 Financial Highlights

Fourth Quarter 2023 Operational Highlights

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Mr. YongSuk Cho, Chairman and Chief Executive Officer of Lufax, commented, “Complex macro conditions continued to impact SBOs during the fourth quarter. Against this backdrop, we prioritized asset quality over quantity and successfully completed our five major de-risking and diversification initiatives, including four “mix” changes and one business model adjustment. First, we strategically adjusted our segment and product mix by diversifying our product offerings to include both business and consumption loans, broadening our loan repayment options, and targeting customers with better risk profiles within the SBO segment. Second, recognizing significant disparities in credit and economic performance across regions, we optimized our geographic footprint and focused on higher-quality, more resilient locations. Third, we further streamlined and optimized our direct sales team to increase productivity and reduce risk within our direct sales channel. Fourth, as we evaluated our industry mix, we assigned greater importance to consideration of each industry’s economic cycle stage within our models. Meanwhile, we successfully completed our transition to the 100% guarantee model, eliminating the negative impact of CGI. On a single account basis, new loans enabled under the 100% guarantee model are expected to realize lifetime profitability, but may record net accounting loss for the first calendar year due to higher upfront provisioning as compared with the loans under CGI model. As a result, we will remain prudent and continue to prioritize quality over quantity going forward. Compared to the third quarter, C-M3 flow rate experienced an increase in the fourth quarter, mainly attributable to the reduction in outstanding loan balances and the short-term impact from the restructuring of our direct sales team and branches. With the completion of all the restructuring measures, we have seen improvement of the flow rate in the first quarter of 2024. Considering the progress in our business de-risking and transformation, as well as our outlook for the growth and capital requirement for the next one to two years, our board of directors has approved a special dividend with an estimated dividend size of approximately RMB10 billion as we continue to deliver value to our shareholders.”

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Mr. Gregory Gibb, Co-Chief Executive Officer of Lufax, commented, “The evolving macro environment constrained demand for high-quality loans from SBOs during the fourth quarter. Through strategic adjustments to customer segmentation and product offerings, we successfully cultivated a new business mix that favors R1-R3 customers and reflects our commitment to de-risking. This, in turn, has gradually transformed our portfolio mix, with consumer finance sales as a proportion of new loan sales increasing to approximately 34% in 2023. As a result, our overall balance mix has shifted, with consumer finance now accounting for 12% of the total balance at the end of 2023, compared to 5% at the end of 2022. We also successfully executed on adjustments to our regional, channel and industry mixes and completed our strategic pivot to the 100% guarantee model, laying the foundations for our long-term, sustainable growth. We will remain committed to our prudent approach and anticipate the new loan sales of 2024 to be in the range of RMB190 billion to RMB220 billion, and the ending balance to be between RMB200 billion to RMB230 billion. With the strong capital position and visibility of our business growth in the near term, we are well positioned to further respond to our shareholders’ constant feedback to increase shareholder return. Our board of directors has approved a special dividend of US$2.42 per ADS or US$1.21 per ordinary share with a total estimated size of approximately RMB10 billion. The special dividend will be payable in cash, to offer our shareholders full flexibility, each shareholder may elect to receive the dividend all in scrip. More details will be disclosed in our announcements and statutory circulars in due course. The special dividend is subject to the approval of shareholders at the annual general meeting, which will be held on May 30^th with record date of April 9^th.”

Mr. David Choy, Chief Financial Officer of Lufax, commented, “Our leverage level remains low, and our two main operating entities are well-capitalized. Our guarantee subsidiary’s leverage ratio was only 1.8x, as compared to a maximum regulatory limit of 10x. And our consumer finance company capital adequacy ratio stood at approximately 15.3%, above the required 10.5% regulatory requirement. Meanwhile, our cash at bank balance amounted to RMB39.6 billion as of December 31, 2023. Overall speaking, we are in a net cash position after taking into account the external debts.”

Fourth Quarter 2023 Financial Results

TOTAL INCOME

Total income was RMB6,857 million (US$966 million) in the fourth quarter of 2023, compared to RMB12,318 million in the same period of 2022, representing a decrease of 44.3%.

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TOTAL EXPENSES

Total expenses decreased by 38.5% to RMB7,943 million (US$1,119 million) in the fourth quarter of 2023 from RMB12,922 million in the same period of 2022. This decrease was mainly due to the decrease in credit impairment losses by 43.0% to RMB3,567million (US$502 million) in the fourth quarter of 2023 from RMB6,259 million in the same period of 2022, and the decrease in sales and marketing expenses by 45.9% to RMB2,007 million (US$283 million) in the fourth quarter of 2023 from RMB3,706 million in the same period of 2022. Total expenses excluding credit impairment losses, asset impairment losses, finance costs and other (gains)/losses decreased by 33.2% to RMB4,389 million (US$618 million) in the fourth quarter of 2023 from RMB6,574 million in the same period of 2022.

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NET LOSS

Net loss was RMB832 million (US$117 million) in the fourth quarter of 2023, compared to RMB806 million in the same period of 2022, as a result of the aforementioned factors.

LOSS PER ADS

Basic and diluted loss per American Depositary Share (“ADS”) were both RMB1.48 (US$0.21) in the fourth quarter of 2023. Each one ADS represents two ordinary shares (“Share”).

BALANCE SHEET

The Company had RMB39,599 million (US$5,577 million) in cash at bank as of December 31, 2023, as compared to RMB43,882 million as of December 31, 2022. Net assets of the Company amounted to RMB93,684 million (US$13,195 million) as of December 31, 2023, as compared to RMB94,787 million as of December 31, 2022.

Special Dividend

On March 21, 2024, the board of directors of the Company resolved to recommend the declaration and distribution of a special dividend out of the share premium account under the reserves of the Company in the amount of US$1.21 per ordinary share or US$2.42 per ADS (the “Special Dividend”). The Special Dividend will be payable in cash, with eligible holders of ordinary shares given an option to elect to receive the Special Dividend wholly in the form of new ordinary shares and eligible holders of ADSs given an option to elect to receive the Special Dividend wholly in the form of new ADSs (except for Hong Kong Securities Clearing Company Nominees Limited, the depositary bank for the ADS program and other intermediaries such as brokers that are aggregating the elections of more than one holder, which may elect to receive their entitlement partly in cash and partly in the form of new ordinary shares or ADSs). The Special Dividend is subject to the approval of shareholders at the forthcoming annual general meeting to be held on May 30, 2024.

Annual General Meeting

It is proposed that the forthcoming annual general meeting of the Company (the “AGM”) will be held on Thursday, May 30, 2024. The record date for the purpose of determining the eligibility of the holders of ordinary shares to attend and vote at the AGM will be as of the close of business on Tuesday, April 9, 2024 (Hong Kong time). All share transfer documents accompanied by the relevant share certificates must be lodged with the Company’s branch share registrar in Hong Kong, Tricor Investor Services Limited at 17/F, Far East Finance Centre, 16 Harcourt Road, Hong Kong not later than 4:30 p.m. on Tuesday April 9, 2024 (Hong Kong time) to be eligible to attend and vote at the AGM. The notice of AGM will be issued to the holders of ordinary shares within the prescribed time and in such manner as required by the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the articles of association of the Company. Holders of the ADSs representing the Company’s ordinary shares at the close of business on April 9, 2024 (New York time) who wish to exercise their voting rights for the underlying ordinary shares must act through Citibank, N.A., the depositary of the Company’s ADS program.

Business Outlook

For the full year of 2024, the Company expects the new loan sales to be in the range of RMB190 billion to RMB220 billion and the year-end loan balance to be in the range of RMB200 billion to RMB230 billion. These forecasts reflect the Company’s current and preliminary views on the market and operational conditions, which are subject to changes.

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Conference Call Information

The Company’s management will hold an earnings conference call at 9:00 P.M. U.S. Eastern Time on Thursday, March 21, 2024 (9:00 A.M. Beijing Time on Friday, March 22, 2024) to discuss the financial results. For participants who wish to join the call, please complete online registration using the link provided below in advance of the conference call. Upon registering, each participant will receive a set of participant dial-in numbers, the event passcode, and a unique access PIN, which can be used to join the conference call.

Registration Link: https://dpregister.com/sreg/10187050/fbc35f8894

A live and archived webcast of the conference call will also be available at the Company’s investor relations website at https://ir.lufaxholding.com.

The replay will be accessible through March 28, 2024, by dialing the following numbers:

United States: 1-877-344-7529

International: 1-412-317-0088

Conference ID: 2835954

About Lufax

Lufax is a leading financial services enabler for small business owners in China. The Company offers financing products designed principally to address the needs of small business owners. In doing so, the Company has established relationships with 85 financial institutions in China as funding partners, many of which have worked with the Company for over three years.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.0999 to US$1.00, the rate in effect as of December 31, 2023, as certified for customs purposes by the Federal Reserve Bank of New York.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about Lufax’ s beliefs and expectations, are forward-looking statements. Lufax has based these forward-looking statements largely on its current expectations and projections about future events and financial trends, which involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. These forward-looking statements include, but are not limited to, statements about Lufax’ s goals and strategies; Lufax’ s future business development, financial condition and results of operations; expected changes in Lufax’ s income, expenses or expenditures; expected growth of the retail credit enablement; Lufax’ s expectations regarding demand for, and market acceptance of, its services; Lufax’s expectations regarding its relationship with borrowers, platform investors, funding sources, product providers and other business partners; general economic and business conditions; and government policies and regulations relating to the industry Lufax operates in. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in Lufax’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and Lufax does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

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Investor Relations Contact

Lufax Holding Ltd

Email: Investor_Relations@lu.com

ICR, LLC

Robin Yang

Tel: +1 (646) 308-0546

Email: lufax.ir@icrinc.com

LUFAX HOLDING LTD

UNAUDITED INTERIM CONDENSED CONSOLIDATED INCOME STATEMENTS

(All amounts in thousands, except share data, or otherwise noted)

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LUFAX HOLDING LTD

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

(All amounts in thousands, except share data, or otherwise noted)

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LUFAX HOLDING LTD

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(All amounts in thousands, except share data, or otherwise noted)

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