Core Viewpoint - The article highlights the transformation of auto insurance claims processing through the implementation of the "AI Remote Intelligent Claims Platform" by Fintech One Account, which integrates AI technology to enhance efficiency, accessibility, and reliability in insurance services [2][9]. Group 1: AI Integration in Claims Processing - The "AI Remote Intelligent Claims Platform" incorporates AI throughout the entire claims process, including investigation, loss assessment, claim approval, payment, and risk control [2][3]. - Fintech One Account leverages over 30 trillion bytes of data and extensive resources, including 3.2 trillion high-quality text data and over 75 billion images, to support AI model accuracy in auto insurance scenarios [2][3]. Group 2: Four Key Areas of Intelligent Upgrade - The platform achieves intelligent upgrades in four main areas: investigation and loss assessment, customer service, claim approval, and risk control, transitioning from manual to intelligent collaborative processes [3][4]. - The use of "5G + video technology" allows for remote video investigations, enabling multiple cases to be processed simultaneously and improving efficiency [4]. - A unified micro-operation platform enhances customer service by automating 90% of communications and providing a seamless experience for clients [5][6]. Group 3: Efficiency and Quality Control - The AI-driven platform enables automatic claim closure, with small claims being settled in as little as 30 seconds, significantly improving operational efficiency [6][7]. - AI quality control measures ensure accurate damage assessment with a 99.2% accuracy rate in identifying common vehicle damages, while also preventing fraudulent claims through historical data analysis [7][8]. Group 4: Risk Prevention and Fraud Detection - The platform enhances fraud detection capabilities, achieving a 35% increase in fraud identification rates through comprehensive AI-driven risk control measures [8]. - AI digital certification and image analysis help prevent fraudulent activities from the outset, ensuring the validity of submitted information [8]. Group 5: Industry Impact and Future Development - The AI-enabled claims processing not only improves efficiency but also facilitates a shift from labor-intensive to intelligent collaborative models within the insurance industry [9]. - The platform's modular design allows for quick integration with existing systems, providing a scalable solution for small and medium-sized insurance companies [9].

Core Viewpoint - The traditional customer service robots in financial institutions often struggle with understanding and addressing complex customer needs, leading to inefficiencies and dissatisfaction. The introduction of the AI Agent digital employee by Fintech One Account aims to transform customer service by integrating comprehensive capabilities to enhance service efficiency and customer satisfaction [1]. Group 1: Development and Implementation - The development of AI technology at Ping An is guided by the principle of "AI in all," which provides a clear direction for innovation and application in financial services [1]. - The AI Agent digital employee is a result of over a decade of technological iterations and practical applications, leveraging Ping An's extensive experience in the financial sector [1][2]. - The AI Agent system has evolved through the integration of advanced technologies such as ASR, TTS, NLP, and large models, enabling it to provide a more human-like service experience [2]. Group 2: Key Innovations - The AI Agent digital employee addresses four critical areas of customer service: understanding, responding, acting, and expressing, thereby creating a comprehensive intelligent service system [2][4]. - It features multi-intent recognition and emotional perception, allowing it to understand complex customer inquiries and respond accurately without requiring customers to repeat themselves [3][4]. - The system utilizes a unified knowledge management framework that integrates various resources, ensuring that responses to customer inquiries are accurate, up-to-date, and well-sourced [3]. Group 3: Service Experience Enhancement - The AI Agent enables a seamless connection between voice interaction and business processing, allowing for efficient execution of customer requests, such as account freezing, through a predefined workflow [4]. - It employs Emotion TTS technology to provide personalized voice interactions, adapting its communication style based on customer profiles, which enhances the overall service experience [4][5]. - The shift from mechanical responses to empathetic and context-aware interactions represents a significant advancement in customer service within the financial sector [5]. Group 4: Future Outlook - The AI Agent is expected to further enhance its interaction capabilities and expand its application across various financial service scenarios, driving the intelligent transformation of the industry [6]. - As a key player in the "AI in all" initiative, Fintech One Account aims to support the modernization of financial services, contributing to the broader goals of financial inclusivity and efficiency [6].

Core Viewpoint - The privatization of Fintech One Account marks the end of its tumultuous journey in the capital market, reflecting its long-term stock price decline, single business structure, and weak third-party market expansion [2][5] Group 1: Stock Price Decline and Market Confidence Erosion - The privatization offer price was HKD 2.068 per share, showing a significant premium over the stock price prior to the announcement, yet this premium does not mask the company's poor performance since its 2019 listing, with a cumulative decline of over 95% in its American Depositary Shares [2] - The persistent stock price drop is a rational market response to the company's business model and development prospects, indicating investor skepticism about its long-term value [2][3] - Privatization may relieve disclosure pressures but also eliminates opportunities for public market financing and brand endorsement, representing a retreat rather than a victory [2] Group 2: Single Business Structure and Dependency on Ping An - The company's deeper issue lies in its single business structure, with third-party income failing to break through since 2021, heavily relying on the Ping An Group for revenue [2][3] - The company acknowledged its inability to effectively expand third-party business income, continuing to operate as a "dedicated company" for Ping An, which limits its independent development and marginalizes it in market competition [2][3] Group 3: Strategic Missteps and Capital Drain - The company's challenges stem from a series of poor investment decisions, such as acquiring a loss-making asset management platform, leading to reduced revenue and negative operating cash flow [3][4] - Efforts to restructure through the sale of its Hong Kong virtual banking business yielded limited results, highlighting deficiencies in strategic planning and risk management [3][4] Group 4: Privatization as a Strategic Shift or Reluctant Retreat - The trajectory of Fintech One Account, from its 2019 NYSE listing to its current privatization, reflects the common challenges faced by Chinese concept stocks in overseas markets [5] - Analysts suggest that privatization is a strategic adjustment in response to performance pressures, business structure bottlenecks, and changes in the overseas regulatory environment, but it appears more as a passive response than an active innovation [5] Group 5: Industry Warning on B-end Financial Technology Services - The case of Fintech One Account serves as a warning for the financial technology industry regarding the profitability challenges of B-end services and the trend of industry differentiation [6] - Leading institutions are rapidly capturing market share through resource integration, while smaller players face elimination due to homogenized competition and capital pressures [6] - The retreat of Fintech One Account may be part of a broader trend of Chinese concept stocks returning home, exposing vulnerabilities in business models and strategic direction that warrant reflection across the industry [6] Conclusion - The privatization of Fintech One Account is superficially a completion of capital operations but fundamentally represents a failure of its business model, with ongoing issues of low stock prices, single business structure, and strategic missteps [7] - Without fundamentally reshaping its competitiveness, breaking dependency, and optimizing strategic layout, this "turn" may mark a turning point from prosperity to decline [7] - The case emphasizes that the essence of financial technology lies in innovation and efficiency, rather than capital packaging or ecosystem dependency, highlighting the need for companies to return to their technological roots and build independent value for long-term competitiveness [7]

香港交易及結算所有限公司及香港聯合交易所有限公司對本聯合公告的內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示概不就因本聯合公告全部或任何部分內容而產生 或因倚賴該等內容而引致的任何損失承擔任何責任。 （於開曼群島註冊成立的有限公司） （股份代號：6638） （紐交所股份代碼：OCFT） 本聯合公告僅供參考，並不構成收購、購買或認購要約人與本公司證券的邀請或要約，亦非在 任何司法權區對任何投票或批准的招攬。本聯合公告亦不構成美國證券交易委員會規則及規定 下之任何要約或推薦。 本聯合公告並非供在、向或從刊發、登載或分發全部或部分內容即構成違反有關司法權區適用 法律或法規的任何司法權區刊發、登載或分發。 OneConnect Financial Technology Co., Ltd. 壹賬通金融科技有限公司 (5)根據該計劃支付的現金款項 要約人的財務顧問 摩根士丹利亞洲有限公司 聯合公告 提交附表13E-3（第5號修訂本） 有關 (1)根據公司法第86條以協議安排方式私有化壹賬通金融科技有限公司之建議 (2)建議撤銷壹賬通金融科技有限公司的上市地位 (3)該計劃的生效日期 (4)股份上市地位撤銷 ...

香港交易及結算所有限公司、香港聯合交易所有限公司、香港中央結算有限公司及紐約證券交 易所對本聯合公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不 就因本聯合公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 本聯合公告僅供參考，並不構成收購、購買或認購要約人及本公司證券的邀請或要約，亦非在 任何司法管轄區對任何投票或批准的招攬。本聯合公告亦不構成根據美國證券交易委員會的規 則及規例的任何招攬或推薦。 本聯合公告並非供在、向或從刊發、登載或分發全部或部分內容即構成違反有關司法管轄區適 用法律或法規的任何司法管轄區刊發、登載或分發。 本聯合公告所提述的計劃文件所擬進行的交易並未獲美國證券交易委員會或任何美國州證券委 員會批准、不批准或以其他方式推薦，而美國證券交易委員會或任何美國州證券委員會亦未就 該等交易的優點或公平性或本聯合公告所提述的計劃文件所載資料的充分性發表意見。任何相 反的陳述均屬刑事罪行。 鉑煜有限公司 （於英屬維爾京群島註冊成立的有限公司） 要約人的財務顧問 摩根士丹利亞洲有限公司 OneConnect Financial Technology Co ...

Core Insights - The article discusses the transformation of Chinese fintech companies, particularly Ping An Technology, from a "single technology output" model to becoming "industry standard setters" in overseas markets [1][4][6]. Group 1: Company Positioning and Strategy - Ping An Technology serves as the core platform for technology output from the Ping An Group, embodying the "AI in ALL" strategy through the integration of AI capabilities into financial services [2][11]. - The company aims to deepen its application of AI and SaaS subscription models to help financial institutions achieve cost reduction and efficiency improvements [4][12]. Group 2: International Expansion and Market Focus - The company has expanded its overseas business to 20 countries and regions, serving 214 clients, with a focus on Southeast Asia and South Africa as key strategic markets [1][6][7]. - In Vietnam, the company has partnered with major banks to implement core system projects capable of processing up to 10 billion transactions daily [7]. Group 3: Technological Innovations and Applications - The company has developed an "AI Agent" digital employee to enhance efficiency in customer service, marketing, and credit risk management within the banking sector [3][9]. - The "Intelligent Visual Anti-Fraud Strategy Platform" has been launched to combat fraud using AI, achieving a detection rate of over 99% in various applications [10]. Group 4: Future Goals and Development - Over the next 3-5 years, the company aims to solidify its position as a leader in fintech and AI, focusing on sustainable technology development and deep integration of AI into financial processes [11][12]. - The company plans to enhance its global presence by establishing standardized technology and service outputs, contributing to the international competitiveness of the Ping An Group [12].

Core Insights - The article discusses the transformation of China's financial technology sector from a "single technology output" model to becoming "industry standard setters" in the context of international expansion [1] - Financial institutions overseas are increasingly seeking compliance, security, and sustainability, with a preference for mature SaaS models to quickly deploy systems while meeting regulatory requirements and enhancing business efficiency [1][7] Group 1: Company Positioning and Strategy - Financial One Account is positioned as the core platform for technology output of Ping An Group, embodying the "AI in ALL" strategy by productizing and platforming AI capabilities accumulated over 30 years [2] - The company implements a "Five Intelligences" strategy, integrating AI into marketing, service, operations, management, and business processes to achieve comprehensive intelligent upgrades [2][3] - The company aims to deepen the application of AI agents and SaaS subscription models to help financial institutions reduce costs and improve efficiency [4] Group 2: Domestic Market Focus - In the domestic market, the company emphasizes precision and practicality, focusing on the core financial business and leveraging data ecosystems to provide sustainable digital empowerment [4][5] - The data ecosystem integrates internal and external data resources to create comprehensive data services, enhancing risk control and marketing capabilities for financial institutions [4] - The vehicle ecosystem supports small and micro-enterprises in the automotive aftermarket by providing insurance services and digital operations [5] Group 3: International Expansion - The company is intensifying its overseas expansion, with Hong Kong serving as a key international entry point and Southeast Asia as a strategic market [6] - The company has established partnerships in Vietnam and other Southeast Asian countries, focusing on digital banking, insurance system construction, and compliance management [6][7] - By June 30, 2025, the company plans to expand its overseas business to 20 countries and regions, serving 214 clients [1][6] Group 4: AI Integration and Innovation - The company is committed to embedding AI capabilities into business processes, transforming AI from a tool into a productive partner [8][10] - The "Intelligent Visual Anti-Fraud Strategy Platform" has been developed to enhance fraud detection and compliance, achieving a detection rate of over 99% [10] - The company aims to create a closed-loop structure of "data-model-intelligent agent-application" to make AI a true productivity tool for financial institutions [11] Group 5: Future Goals - In the next 3-5 years, the company aims to lead the financial technology and AI industry, focusing on core technologies like AI, big data, and intelligent risk control [11] - The company plans to build a new financial technology landscape that supports both domestic and international development, leveraging its SaaS and service output model [11] - The company will promote the internationalization of Chinese financial technology standards through standardized technology and service output [11]

Core Viewpoint - Financial One's privatization plan has been approved by the Grand Court, with expected effectiveness on November 19, 2023, following the necessary conditions being met or waived [1] Group 1: Privatization Details - Financial One and Platinum Limited announced the approval of the privatization plan on November 14, 2023 [1] - The Hong Kong Stock Exchange has approved the delisting of the company's shares effective from November 21, 2023, at 4 PM [1] - The American Depositary Shares (ADS) are expected to be permanently suspended from trading on the New York Stock Exchange on November 21, 2023, with delisting anticipated on December 1, 2023 [1] Group 2: Financial One Overview - Financial One is a financial technology service provider under Ping An Group, established in 2015 [1] - The company was listed on the New York Stock Exchange in December 2019, becoming the first financial technology stock to disclose the VIE structure [1] - In July 2022, Financial One achieved a "dual primary listing" on the Hong Kong Stock Exchange, marking it as the first financial technology Chinese concept stock to do so [1]

Core Viewpoint - OneConnect Financial Technology, known as the "first fintech stock," is set to delist following a privatization plan approved by the Grand Court of the Cayman Islands [1][3]. Group 1: Privatization and Delisting - On November 14, the Grand Court approved the privatization proposal by Platinum YU Limited, a wholly-owned subsidiary of Ping An Insurance, which will lead to the delisting of OneConnect from the Hong Kong Stock Exchange and the New York Stock Exchange [1][3]. - The delisting from the Hong Kong Stock Exchange is scheduled to take effect on November 21, while the American Depositary Shares (ADS) will be permanently suspended on the same date, with the final delisting expected by December 1 [1][3]. - The privatization offer includes a purchase price of HKD 2.068 per share (approximately USD 7.976 per ADS), providing a significant premium to recent market prices [3][4]. Group 2: Financial Performance - For the first half of 2025, OneConnect reported revenue from continuing operations of RMB 801 million, with a gross margin of 26.1% [3]. - The company experienced a 16.6% year-on-year increase in revenue from operational support services, totaling RMB 309 million, driven by increased transaction volumes in insurance solutions [3]. - However, the company reported a loss attributable to shareholders of RMB 78.5 million, a decline of 156.4% year-on-year [3]. Group 3: Company Background - OneConnect Financial Technology was established in 2015 and is a fintech service provider under Ping An Group, focusing on digital solutions for financial institutions [1]. - The company went public on the New York Stock Exchange in December 2019 and later achieved a dual primary listing on the Hong Kong Stock Exchange in July 2022 [2].

Group 1 - Financial One Account (6638.HK) and its controlling shareholder, Ping An Insurance (2318.HK), announced the approval of the privatization plan by the Grand Court during a hearing on November 14 [1] - The plan is expected to take effect on November 19, assuming all conditions are met or waived [1] - The Hong Kong Stock Exchange has approved the delisting of the company's shares effective from November 21, and the American Depositary Shares (ADS) will be permanently suspended from trading on the New York Stock Exchange on the same date [1] Group 2 - The initial non-binding proposal for privatization was received in March, with the buyer planning to acquire shares at a cash price of HKD 2.068 per share [1]