$Lufax (LU.US)$ CSRC responds to some Chinese concept stoc...

CSRC responds to some Chinese concept stocks being put on the "delisting watchlist": China Securities Regulatory Commission (CSRC) has taken note of this situation. This is a normal step taken by the US regulatory authorities to enforce the Holding Foreign Companies Accountable Act and its related implementation rules. CSRC has previously expressed its stance on the implementation of the Holding Foreign Companies Accountable Act on multiple occasions. CSRC respects overseas regulatory institutions' efforts to strengthen the supervision of relevant accounting firms to enhance the quality of financial information of listed companies, but firmly opposes any attempt to politicize securities regulation. CSRC has always upheld the spirit of openness and cooperation and is willing to address the inspection and investigation issues raised by US regulatory authorities regarding relevant firms through regulatory cooperation, which is also in line with international practices.

In recent times, CSRC and the Ministry of Finance of China have been engaged in ongoing dialogues with the Public Company Accounting Oversight Board (PCAOB) of the USA, leading to positive progress. CSRC believes that through joint efforts, both sides will be able to promptly establish a cooperative arrangement that complies with the legal requirements and regulatory standards of both countries, safeguarding the legitimate rights and interests of global investors while promoting the healthy and stable development of the markets in both countries.