Lufax Holding Ltd (6623) announced the renewal of its 2025 Services Purchasing Agreement by entering into a 2026 Services Purchasing Agreement with Ping An Insurance (2318) on February 13, 2026. The agreement extends from February 13 to December 31, 2026.

According to public information, Ping An Insurance holds approximately 66.85% of Lufax Holding Ltd’s issued share capital, making Ping An Insurance a connected person. Under the new agreement, Ping An Insurance will continue providing financial consulting, administrative, legal, risk management, human resources, and technology information services.

The annual service fees under the 2026 Services Purchasing Agreement are set at RMB42.17 million, inclusive of value-added tax, determined on a cost-plus basis with an approximate 5% markup. The fees will be settled in quarterly installments of 25% each before March 31, June 30, September 30, and December 31, 2026.

The highest applicable percentage ratio for the transaction exceeds 0.1% but is below 5%, triggering reporting, announcement, and annual review requirements under Chapter 14A of the Listing Rules without the need for independent shareholder approval. Lufax Holding Ltd’s board of directors, including independent non-executive directors, considers the agreement fair, reasonable, and beneficial to the company’s operations within the ordinary course of business.

Lufax Holding Ltd noted that it has historically relied on Ping An Insurance for essential business services due to long-standing mutual trust and familiarity with its operational needs. The agreement’s pricing is aligned with market rates, reflecting cost advantages for outsourcing procedural tasks rather than maintaining the same capacity in-house. The company will monitor the utilization of the RMB42.17 million annual cap and employ internal control measures to ensure compliance with the Listing Rules.