Core Viewpoint - The article discusses the strategic approach of Financial One Account in expanding its financial technology services globally, emphasizing the dual focus on technology and business integration to enhance competitiveness in international markets [6][9]. Group 1: Strategic Decisions - Financial One Account's international expansion is driven by both survival and growth needs, marking a proactive strategic choice [6]. - The company adopts a "technology + business" dual-driven model, integrating decades of business wisdom from the Ping An Group with cutting-edge technological solutions [6]. - The collaboration with South African insurance company Qianwei exemplifies how the company's practical experience in finance aids overseas institutions in achieving rapid transformation [6]. Group 2: Regional Focus - Southeast Asia and Hong Kong are identified as the two strategic core regions for Financial One Account's international efforts, with significant investments made in these markets [7]. - The company has also made strides in the Middle East, particularly in Abu Dhabi's financial free zone, assisting regulatory bodies in establishing innovative lending platforms [7]. Group 3: Strategic Safeguards - To address the "south orange, north tangerine" phenomenon faced by companies going abroad, Financial One Account proposes a four-fold safeguard mechanism: 1. Establishing a globally-oriented technology R&D system 2. Localizing adaptations to meet regulatory and business needs 3. Cultivating a global talent matrix that understands both technology and culture 4. Building a collaborative ecosystem for industry chain cooperation [8]. - The company collaborates with Ping An Group's affiliates in Southeast Asia to provide comprehensive industry chain outputs, creating competitive advantages through a combination of financial technology and industry resources [8]. Group 4: Future Outlook - The future of Chinese enterprises going abroad lies in forming ecological alliances, with collaborative efforts creating a strong competitive edge in the global market [9].

Core Viewpoint - Financial One's performance in the first quarter of 2025 showed a significant decline in revenue and an increase in losses compared to the previous year, primarily driven by a decrease in cloud service platform income and other service revenues [1][2]. Revenue Summary - The total revenue for the first quarter of 2025 was RMB 368 million, a decrease of 49.2% from RMB 723 million in the same period last year [2]. - Revenue from the cloud service platform dropped to RMB 2 million, a staggering decline of 99.5% from RMB 318 million year-on-year, attributed to the strategic phase-out of cloud services since July 2024 [2]. - Implementation service revenue was RMB 143 million, down 9.2% from RMB 157 million year-on-year, mainly due to reduced demand for financial service systems in China [2]. - Customer acquisition service revenue fell to RMB 5 million, a decrease of 59.2% from RMB 13 million year-on-year, linked to a drop in transaction volume for digital credit management solutions [2]. - Risk management service revenue was RMB 55 million, down 15.8% from RMB 65 million year-on-year, primarily due to decreased transaction volume in bank-related risk analysis solutions [2]. - Operational support service revenue was RMB 122 million, a decline of 9.2% from RMB 134 million year-on-year, mainly due to reduced income from intelligent voice service solutions [2]. - Revenue from post-development maintenance services increased to RMB 20 million, a growth of 33.5% from RMB 15 million year-on-year, driven by increased demand from overseas clients [2]. Loss Summary - The company reported a loss attributable to owners of the continuing operations of RMB 38.36 million, a decrease of 28.56% compared to the previous year [1]. - The basic and diluted loss per American Depositary Share for continuing operations was RMB 1.06 [1].

Financial Performance - OneConnect Financial Technology Co., Ltd. reported its unaudited financial performance for the first quarter ending March 31, 2025[12]. - The financial summary for Q1 2025 will be detailed in a press release scheduled for May 28, 2025[14]. - Revenue from continuing operations for Q1 2025 was RMB 368 million, a decrease of 49.2% compared to RMB 723 million in the same period last year[16][22]. - The gross profit margin for continuing operations was 28.5%, down from 37.7% in the previous year, reflecting a decline in economies of scale due to reduced revenue[24]. - The net loss attributable to owners for continuing operations was RMB 38 million, compared to RMB 54 million in the same period last year, with a net profit margin of -10.4%[16][17]. - Revenue from the digital banking segment was RMB 104 million, a decrease of 35.6% year-over-year, primarily due to reduced customer acquisition and risk management service transactions[20][21]. - Revenue from the digital insurance segment increased by 8.1% year-over-year to RMB 143 million, driven by higher demand for digital insurance solutions[21]. - The company reported a significant decline in cloud service platform revenue, which fell by 99.5% to RMB 2 million, due to a strategic phase-out of cloud services starting July 2024[19][21]. - Operating expenses for continuing operations totaled RMB 156 million, down from RMB 342 million in the previous year, with the percentage of operating expenses to revenue decreasing from 47.3% to 42.3%[25]. - Research and development expenses for continuing operations were RMB 62 million, a reduction from RMB 213 million year-over-year, reflecting a shift to investment return-oriented project management[25]. - The company reported a basic and diluted loss per American Depositary Share of RMB -1.06, an improvement from RMB -1.48 in the same period last year[16][17]. - In Q1 2025, the operating loss from continuing operations was RMB 56 million, compared to RMB 66 million in the same period last year, resulting in an operating profit margin of -15.3% versus -9.2% year-over-year[26]. - The loss attributable to shareholders from continuing operations in Q1 2025 was RMB 38 million, down from RMB 54 million in the previous year, with a basic and diluted loss per American Depositary Share of RMB -1.06 compared to RMB -1.48[27]. - Total revenue for continuing operations in Q1 2025 was RMB 367.8 million, a significant decrease from RMB 723.3 million in Q1 2024[35]. - The gross profit for continuing operations in Q1 2025 was RMB 104.9 million, compared to RMB 272.4 million in the same quarter last year[35]. - Research and development expenses in Q1 2025 were RMB 61.6 million, down from RMB 213.2 million year-over-year[35]. - The net financial income for Q1 2025 was RMB 13.8 million, compared to RMB 6.1 million in the previous year[35]. Cash Flow and Assets - The net cash used in operating activities for Q1 2025 was RMB 190 million, while cash used in investing activities was RMB 825 million, and cash used in financing activities was RMB 6 million[28]. - Cash and cash equivalents significantly dropped to RMB 924,955 thousand from RMB 1,947,922 thousand, a decrease of 52.6%[41]. - The company reported a net cash outflow from investing activities of RMB (824,942) thousand, contrasting with a net inflow of RMB 255,848 thousand in the previous year[41]. - As of March 31, 2025, total assets amounted to RMB 3,707,728 thousand, a decrease of 6.5% from RMB 3,967,252 thousand as of December 31, 2024[38]. - Current assets decreased to RMB 3,131,029 thousand from RMB 3,397,304 thousand, reflecting a decline of 7.8%[38]. - The company’s cash and cash equivalents decreased by RMB 1,020,383 thousand during the quarter, compared to an increase of RMB 39,641 thousand in the same quarter of the previous year[41]. - Total liabilities decreased to RMB 1,254,033 thousand from RMB 1,463,309 thousand, a reduction of 14.3%[39]. - The total equity attributable to owners of the company was RMB 2,512,936 thousand, down from RMB 2,558,452 thousand, reflecting a decrease of 1.8%[39]. - The company recorded a cumulative loss of RMB (8,371,653) thousand as of March 31, 2025, compared to RMB (8,333,291) thousand at the end of 2024[39]. - Non-current assets totaled RMB 576,699 thousand, slightly up from RMB 569,948 thousand, indicating a marginal increase of 1.3%[38]. Corporate Developments - The company is currently undergoing a privatization proposal in collaboration with Platinum Group Limited[4]. - The company emphasizes the importance of maintaining relationships with strategic partners, particularly Ping An Group[8]. - The board of directors collectively assumes responsibility for the accuracy of the information contained in the announcement[10]. - The company has established long-term partnerships with financial institutions to support their digital transformation needs and has expanded services to other participants in the financial services ecosystem[29]. - The company has prepared estimated consolidated results for the three months ending March 31, 2025, based on management accounts[53]. - The accounting policies and calculation methods for the estimates have been reviewed and deemed appropriate by the auditors, ensuring consistency with the audited financial statements for the year ending December 31, 2024[54]. - The estimates have been made after careful consideration and are believed to be prudent[55]. Risks and Advisories - The report includes forward-looking statements that involve risks and uncertainties, which may cause actual results to differ significantly[7]. - Shareholders and potential investors are advised not to overly rely on the Q1 performance when trading the company's securities[9]. - The financial advisor and auditor have provided reports on the estimates made in the announcement[5].

Core Insights - The implementation of the "Private Economy Promotion Law" marks a new phase of legal development for China's private economy, introducing innovative mechanisms like "data credit replacing collateral" to address financing bottlenecks and stimulate innovation [1][2][3] - Fintech, particularly through companies like Fintech One Account, is positioned as a key driver for financing innovation in the private sector, leveraging technology to provide efficient financial services [1][4] Financing Innovation - Fintech One Account has proactively explored full-process solutions for financing challenges faced by small and micro enterprises, addressing issues such as credit assessment difficulties and high financing costs [2][3] - The company has developed a digital SME credit system utilizing AI to create credit profiles, reducing approval time by 30% [2] - The introduction of the Jin Jie Ying AI housing collateral solution has enabled financial institutions to automate approval processes and diversify customer acquisition, with one bank achieving a 92% online process rate for housing loans [2][5] Technological Advancements - Fintech One Account's approach combines data credit, AI-driven credit processes, and innovative credit endorsement methods to help small and micro enterprises overcome financing challenges [3][4] - The company has achieved significant efficiency improvements in the insurance sector, with a 30% reduction in risk loss rates and over 20% decrease in operational costs for certain insurance companies [4][5] Global Expansion - Since 2018, Fintech One Account has expanded its operations internationally, serving 197 foreign financial institutions across 20 countries, including Southeast Asia and the Middle East [7][8] - The company aims to enhance the capabilities of local financial institutions in serving innovative enterprises through its intelligent risk control systems and data value reconstruction frameworks [7][8] Future Outlook - With the guidance of the "Private Economy Promotion Law," Fintech One Account is expected to become a core technological engine for the globalization of the private economy, facilitating cross-border financial cooperation and enhancing the international competitiveness of private enterprises [10]

Core Viewpoint - Financial One Account (OCFT) has experienced a decline in revenue and net profit, indicating potential challenges in its financial performance as it prepares to release its Q1 2025 financial report [1][3]. Group 1: Financial Performance - As of December 31, 2024, Financial One Account reported total revenue of 2.248 billion RMB, a year-on-year decrease of 36.16% [1]. - The company's net profit attributable to shareholders was -460 million RMB, reflecting a year-on-year decline of 26.73% [1]. Group 2: Company Overview - Financial One Account is a Technology-as-a-Service provider focused on financial institutions and is a joint venture of Ping An Group, leveraging over 30 years of experience in the financial industry [2]. - The company offers integrated products including digital banking, digital insurance, and digital financial infrastructure through its Gamma platform, aiming to enhance efficiency and reduce costs for clients [2]. - Financial One Account was listed on the New York Stock Exchange in December 2019 and subsequently on the Hong Kong Stock Exchange in July 2022 [2]. - The company has received 305 awards domestically and internationally, including recognition in KPMG's "Top 50 Fintech Companies in China" for six consecutive years and a rise to 59th in the IDC FinTech Global 100 ranking in 2021 [2].

Core Insights - The 2025 Tsinghua Wudaokou Global Financial Forum was held in Shenzhen, gathering nearly a hundred high-level political and economic leaders and experts to explore new paths for global economic and financial development [1] Group 1: Financial Empowerment of Technology Innovation - The theme of the forum was "Financial Empowerment of Technology Innovation and Development," where discussions focused on how financial institutions can better assist technology innovation enterprises in risk avoidance and service enhancement [1][3] - Jia Yanjing, General Manager of Financial One Account Bank Division and Secretary-General of the Small and Medium Banks Alliance, shared insights based on Ping An Group's practices, highlighting that Ping An is a representative of financial institutions serving small and medium-sized technology innovation enterprises [4] Group 2: Challenges Faced by Technology Innovation Enterprises - Three common pain points for technology innovation enterprises were identified: 1. Fear of risk leading to reluctance in purchasing insurance, especially for companies with high-end equipment [4] 2. Uncertainty in research and innovation, characterized by long time spans and low success rates [4] 3. Incomplete multi-dimensional credit system construction, requiring both self-credit enhancement and support from upstream and downstream credit [4] Group 3: Strategies for Financial Institutions - A three-pronged strategy framework for financial institutions to serve technology innovation enterprises was proposed, including: 1. Intelligent real-time risk control 2. Data value reconstruction 3. Patent valuation [4] - The effective accumulation of data assets is crucial for financial institutions' risk management, with Ping An having built nine major databases, including three financial databases and five medical databases, containing 30 trillion bytes of data [4] Group 4: Supporting National Strategies - Financial institutions are encouraged to align closely with national strategies for building a financial and technological powerhouse, leveraging comprehensive finance and technological innovation to support the transition from "Made in China" to "Created in China" [5] - Ping An Group actively practices technology finance, digital finance, and inclusive finance, providing solutions to empower the digital transformation of domestic and international small and medium financial institutions [5]

金融壹账通私有化再进一步。5月19日，北京商报记者注意到，金融壹账通日前发布公告称，要约人铂煜有限公司（以下简称"铂煜公司"）要求董事会以协 议安排方式，将公司私有化提出建议。一经批准及实行，需以现金向计划股东支付注销价，撤销金融壹账通于港交所、纽交所的上市地位。 股份注销溢价23.1% 值得一提的是，在本次公告中，金融壹账通提到了私有化的多项原因，包括股价低迷、业绩亏损等。公告指出，公司股价长期低迷，自2019年于纽交所上市 以来，美国存托股价格已下跌超过95%，部分原因为结构性的低水平流动性、投资者信心减退及券商研报覆盖不足。同时港交所交易流通量一直偏低，流动 性不足限制股份对市场参与者的吸引力，并影响其价格以及股东在不对价格造成不利影响的情况下大量买卖股份的能力。 私有化价格方面，公告指出，注销价2.068港元较最后交易日于港交所报收市价每股股份1.68港元溢价约23.1%。受此消息影响，5月16日，金融壹账通港股 大幅走高，收报1.93港元，日内涨幅达14.88%，股价创2023年2月以来新高；同日美股涨幅超过9%，收报7.21美元。5月19日，金融壹账通港股盘中走弱，每 股报1.89港元，下跌1.5 ...

Group 1: Company Performance - NetEase-S (09999) saw a significant increase of 10.89% in stock price after reporting Q1 2025 net revenue of RMB 28.8285 billion, a year-on-year increase of 7.4%, and gross profit of RMB 18.5 billion, up 8.6% [1] - H&H International Holdings (01112) rose over 8% as the market speculated on the ergotamine concept, with its Swisse brand showing strong performance in high-growth segments [2] - China Gold International (02099) experienced a stock price increase of over 5% after reporting a 351% rise in Q1 revenue to USD 273 million [2] Group 2: Clinical and Pharmaceutical Developments - Shandong Xinhua Pharmaceutical (00719) surged over 14% as COVID-19 infections showed an upward trend, with the company preparing for Phase II clinical trials of OAB-14 [1] - Innovent Biologics (01801) rose nearly 3% after announcing the completion of the first patient dosing in the Phase III clinical study of Ma Shidu peptide for obesity [1] - Kangxi Biologics (06185) increased over 3% after receiving approval from the Indonesian drug regulatory authority for its inhaled tuberculosis vaccine clinical trial [1] Group 3: Market Trends and Reactions - The Nasdaq Golden Dragon China Index fell over 2%, with notable declines in popular Chinese stocks such as Tiger Brokers (TIGR.US) down over 8% and Beike (BEKE.US) down over 5% [3] - UnitedHealth Group (UNH.US) experienced a significant drop of over 15% following reports of a U.S. Department of Justice investigation into potential insurance fraud [3] - Bitcoin-related stocks declined, with CleanSpark (CLSK.US) down nearly 6% and Coinbase (COIN.US) down over 7%, as Bitcoin itself fell over 1.5% [3]

Major Events - Heng Rui Medicine (01276) plans to globally issue 224.5 million H-shares, expected to be listed on May 23 [1] - MIRXES-B (02629) will conduct an IPO from May 15 to May 20, aiming to globally issue 46.62 million shares [1] - Green Tea Group (06831) received 317.54 times subscription for its public offering in Hong Kong, with a final issue price of HKD 7.19 per share [1] - CSPC Pharmaceutical Group (01093) signed an exclusive licensing agreement with Cipla for the commercialization of Irinotecan Liposome Injection in the United States [1] - CanSino Biologics (06185) received clinical trial approval for its inhaled tuberculosis booster vaccine in Indonesia [1] - Fuhong Hanlin (02696) has been included in the MSCI Global Small Cap Index [1] - Financial One Account (06638) received a privatization offer from Ping An Group (02318) at a premium of approximately 23.10% [1] Financial Reports - Alibaba-W (09988) reported revenue and net profit growth for the fiscal year 2025, with net profit attributable to shareholders increasing by 62% to CNY 129.47 billion [1] - NetEase-S (09999) announced Q1 results with net profit attributable to shareholders at CNY 10.301 billion, a year-on-year increase of 34.94%, and a quarterly dividend of USD 0.135 per share [1] - Geely Automobile (00175) released Q1 results showing a significant increase in profit attributable to shareholders of CNY 5.672 billion, up 263.59% year-on-year [1] - Beike-W (02423) reported a total transaction volume growth of 34.0% year-on-year in Q1, with net revenue increasing by 42.4% [1] - Minhua Holdings (01999) announced annual results with profit attributable to shareholders of HKD 2.063 billion, a decrease of 10.41% year-on-year [1] - Shoucheng Holdings (00697) reported Q1 results with profit attributable to shareholders of HKD 213 million, an increase of 80.5% year-on-year [1] - Fourth Paradigm (06682) showed strong performance in core business with total revenue of CNY 1.077 billion in Q1, a year-on-year growth of 30.1% [1]

Group 1 - Financial One's stock opened up 5.6% on May 15, reaching $6.98 per share, with a total market capitalization of $272 million [1] - As of December 31, 2024, Financial One reported total revenue of 2.248 billion RMB, a year-on-year decrease of 36.16%, and a net profit attributable to shareholders of -460 million RMB, a year-on-year decrease of 26.73% [1] - The company is set to disclose its Q1 2025 financial report on May 20, with the actual date subject to company announcement [1] Group 2 - Financial One is a Technology-as-a-Service provider for financial institutions and is a joint venture of Ping An Group, leveraging over 30 years of experience in the financial industry [2] - The company offers integrated products including digital banking, digital insurance, and a digital financial infrastructure platform, focusing on enhancing efficiency, service, cost reduction, and risk mitigation for clients [2] - Financial One was listed on the New York Stock Exchange in December 2019 and ranks second among publicly listed commercial technology service providers in China based on financial software and service revenue as of 2020 [2] - The company launched an "integrated two wings" upgrade strategy in September 2021 to support the digital transformation of financial institutions while expanding its ecosystem and international presence [2] - As of December 31, 2023, Financial One has received 305 domestic and international awards, including recognition in KPMG's "Top 50 Fintech Companies in China" for six consecutive years and an increase in IDC FinTech global rankings [2]