Lufax amended convertible promissory-note terms on August 20, 2026, including US$29,377,672.86 paid to PAOH for extending its notes. For investors, the change sets Redemption and cancellation of An Ke’s notes while giving PAOH a longer Maturity and a revised conversion period, subject to closing conditions.

Key Highlights

  • Ping An is reported as beneficially owning 73.3% of Lufax, representing 1,579,768,074 shares.
  • An Ke’s notes are to be redeemed on October 8, 2026 and cancelled following redemption.
  • Lufax agreed to pay PAOH US$29,377,672.86 for the extension of its notes’ maturity date.

Lufax Holding Ltd (NYSE: LU) has three reported beneficial owners with an activist ownership position under Schedule 13D: An Ke Technology Company Limited at 44.9%, China Ping An Insurance Overseas (Holdings) Limited at 28.4%, and Ping An Insurance (Group) Company of China, Ltd. at 73.3%. The reported holdings are 967,011,824 shares (967.0 million), 612,756,250 shares (612.8 million), and 1,579,768,074 shares (1,579.8 million), respectively. The positions reflect ordinary shares, including securities convertible from Lufax’s promissory notes.

Convertible Notes and Ownership

An Ke’s reported holdings include 202,117,241 ordinary shares (202.1 million) convertible from its notes. PAOH’s position includes 218,960,345 ordinary shares (219.0 million) convertible from its notes, while Ping An’s reported amount includes 421,077,586 ordinary shares (421.1 million) convertible from the notes. The ownership percentages are calculated against 2,154,455,370 ordinary shares (2,154.5 million). Lufax’s ordinary shares have a Par Value of $0.00001 per share. The beneficial ownership references also cover ordinary shares underlying Lufax American depositary shares.

An Ke Notes Set For Redemption

Lufax, An Ke and PAOH agreed on August 20, 2026, to amend the terms of the convertible promissory notes. The agreement provides that the outstanding principal of An Ke’s notes will be redeemed, with the redemption price consisting of that principal and any unpaid interest accrued, payable in two tranches. The An Ke notes will be cancelled after redemption.

PAOH Extension Carries Conditions

Lufax agreed to pay PAOH US$29,377,672.86 for the extension. The amended terms provide for redemption and cancellation of An Ke’s notes and an extended maturity and revised conversion period for PAOH. An Ke Technology Company Limited, PAOH and Ping An are identified as beneficial owners of Lufax ordinary shares. The three entities signed this Schedule 13D amendment on August 28, 2026 through Gao Song, Tung Hoi and Xie Yonglin, respectively.

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