A zone in Beijing has launched a program asking several banks to extend billions of yuan in credit to multiple companies across the AI industry chain, partly based on their token usage.
X Financial (NYSE: XYF) reported sharply weaker results for the quarter ended June 30, 2026, with total net revenue of RMB993.6 million, down 56.3% year-over-year and 15.5% sequentially, driven mainly by a steep drop in loan facilitation volumes.
Lufax (NYSE: LU; HKEX: 6623) reported unaudited second quarter 2026 results, with total income of RMB6,227 million, down 15.5% year over year, and a narrowed net loss of RMB82 million versus RMB594 million a year earlier.
