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OneConnect Releases ESG Report for the Third Consecutive Year, Strengthening Its Leadership in Sustainable Finance
Prnewswire· 2025-04-25 10:02
Core Insights - OneConnect Financial Technology Co., Ltd has released its 2024 Environmental, Social, and Governance (ESG) Report, marking the third consecutive year of such disclosures, reflecting the company's commitment to corporate responsibility [1] - The report outlines OneConnect's strategic initiatives and achievements in promoting green finance, serving underbanked communities, and mitigating financial risks [1][2] ESG Commitment - The company has integrated ESG principles into all operations, including strategic planning, product development, and risk management, fostering a sustainability-oriented culture [3] - In 2024, OneConnect identified 25 key material topics, focusing on climate change, digital inclusion, and employee development, and aligned disclosures with international frameworks like GRI and TCFD [4] Institutional Development - OneConnect revised over 10 core policy documents related to operational risk and data security, reporting no major compliance violations [5] - The company enhanced its anti-corruption mechanisms through integrity awareness campaigns and commitments from suppliers [5] Green Finance Initiatives - OneConnect aims for operational carbon neutrality by 2030, maintaining per capita greenhouse gas emissions below 0.4 metric tons of CO₂ equivalent and reducing office energy consumption by 46% [6] - The company has implemented sustainability measures in its offices, including energy-efficient technologies and green procurement practices [7] Digital Services and Financial Inclusion - OneConnect has integrated energy management and carbon emissions tracking into its digital platform, providing clients with tools for operational efficiency [8] - The company focuses on enhancing accessibility in financial services through advanced technologies like AI and big data [9][10] Corporate Citizenship - OneConnect actively participates in public welfare initiatives, launching campaigns to support underprivileged children and rural education, with employees contributing over 300 hours of volunteer service [11] - The company conducts assessments for suppliers to promote a transparent and compliant business ecosystem [12] Industry Recognition - OneConnect received multiple industry awards in 2024, including recognition in the S&P Global Sustainability Yearbook and Forbes China's Top 10 Fintech Companies in ESG Practices [13] - The company serves 197 overseas financial institutions across more than 20 countries, indicating its expanding global presence [14] Future Outlook - OneConnect plans to enhance its technological foundation and integrate ESG principles further into its operations, aiming to support the development of a resilient financial ecosystem [15]
OCFT(OCFT) - 2024 Q4 - Annual Report
2025-04-24 10:17
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Cayman Islands (Jurisdiction of incorporation or organization) 21/24F, Ping ...
OneConnect Powers the Future of Digital Finance at WIC Asia-Pacific Summit
Prnewswire· 2025-04-17 04:05
Core Insights - Ping An Insurance and its affiliate OneConnect participated in the "World Internet Conference Asia-Pacific Summit" to promote the integration of the financial industry with digital intelligence technologies [1][5] - OneConnect's Chairman highlighted Ping An's investments in five key financial sectors, totaling RMB 10.14 trillion in 2024 to support the real economy [2] - OneConnect aims to be a leader in fintech and AI, with 100% of state-owned and joint-stock banks in China using its products [3] Group 1: Company Achievements - Ping An has invested RMB 10.14 trillion in 2024 to support the development of the real economy and allocated over RMB 1 trillion in insurance funds for technology innovation industries [2] - OneConnect has become a key player in fintech, serving 20 countries and regions with 197 overseas financial institutions [3] - OneConnect has received accolades for its technological innovations, including the First Prize for Financial Technology Development from the People's Bank of China [4] Group 2: Strategic Focus - OneConnect is focused on empowering the financial industry through "technology + business" solutions, contributing to the digital transformation of Ping An's subsidiaries [3][4] - The company is committed to aligning with national strategies for building a strong financial sector and providing people-centered financial services [5] - The summit provided a platform for discussing the integration of AI and digital technologies in the financial sector, aiming to create a trustworthy ecosystem for inclusive finance [1][5]
OCFT(OCFT) - 2024 Q4 - Annual Report
2025-03-18 12:46
Exhibit 99.1 Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. OneConnect Financial Technology Co., Ltd. 壹 賬 通 金 融 科 技 有 限 公 司 (Incorporated in the Cayman Islands with limited liability) (Stock ...
OneConnect Announces Fourth Quarter and Full Year 2024 Unaudited Financial Results
Prnewswire· 2025-03-18 11:16
SHENZHEN, China, March 18, 2025 /PRNewswire/ -- OneConnect Financial Technology Co., Ltd. ("OneConnect" or the "Company") (NYSE: OCFT and HKEX: 6638), a leading technology-as-a-service provider for the financial services industry in China, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2024. Fourth Quarter 2024 Financial Highlights Revenue from continuing operations[1] was RMB415 million, compared to RMB882 million during the same period last year. G ...
OneConnect Integrates DeepSeek into AI Agent Platform
Prnewswire· 2025-02-13 11:06
SHANGHAI, Feb. 13, 2025 /PRNewswire/ -- OneConnect Financial Technology Co., Ltd ("OneConnect" or the "Company", NYSE: OCFT, HKSE: 6638), a business technology service provider for financial institutions, launches its proprietary AI Agent Platform, integrating cutting-edge open-source large language models including DeepSeek and Qwen to deliver a comprehensive AI solution tailored specifically for the banking industry. This innovative initiative aims to accelerate the digital transformation of the banking s ...
OCFT(OCFT) - 2024 Q3 - Earnings Call Transcript
2024-11-14 18:06
Financial Data and Key Metrics Changes - The net loss from continuing operations attributable to shareholders improved to RMB30 million from RMB51 million year-on-year, a decrease of 41.9% [11] - Revenue for Q3 2024 was RMB417 million, a decrease of 48.3% compared to the same period last year, primarily due to the strategic decision to phase out the cloud service business [42] - Gross margin of continuing operations was 32.7%, down from 36% in the prior year, mainly due to reduced economies of scale [44] - Net profit for the period attributable to shareholders was RMB110 million, compared to a net loss of RMB281 million in the same period last year [45] Business Line Data and Key Metrics Changes - Revenue generated from third-party customers decreased by 12.4% to RMB236 million in Q3 2024, but revenue from overseas third-party customers increased by 23.4% year-on-year [43] - R&D expenses from continuing operations were RMB70 million, down from RMB230 million year-on-year, reflecting a proactive adjustment of business structure [46] - Sales and marketing expenses from continuing operations decreased to RMB46 million from RMB66 million year-on-year, indicating enhanced sales efficiency [47] Market Data and Key Metrics Changes - The Southeast Asian region has become a strong growth engine, with significant revenue growth from overseas customers [33] - The company has established strategic cooperation with leading foreign banks operating in China, enhancing its market presence [24] Company Strategy and Development Direction - The company is focusing on product upgrades, customer expansion, and overseas market growth, particularly in digital banking, digital insurance, and the Gamma platform [13][15] - OneConnect aims to empower financial institutions to achieve digital transformation and improve operational efficiency through technology [10] - The company is in the critical period of Stage 2 strategy, focusing on broadening customer engagement and optimizing product offerings [15] Management's Comments on Operating Environment and Future Outlook - Management noted ongoing volatility and uncertainty in the market but remains committed to improving customer experience and product competitiveness [50] - The company expects the discontinuation of the cloud service to impact top-line performance in 2024, but it will continue to focus on cost controls and overseas expansion [51] Other Important Information - OneConnect won four awards in Q3 2024, bringing the total to 318 awards, reflecting industry recognition of its products and technical strength [36] - The company has launched several AI-driven tools to enhance sales and marketing efficiency [19][31] Q&A Session Summary Question: What does the decrease in payment ratios with Ping An Group mean for profit margins? - Management emphasized that Ping An Group remains a key partner and that the company is phasing out low gross margin products to improve profitability [54][56] Question: What are the latest overseas expansion efforts regarding hiring and staffing? - The company plans to allocate resources based on overseas business needs and will focus on core banking, SLP platform, and E-KYC among other offerings [57][59]
OCFT(OCFT) - 2024 Q3 - Quarterly Report
2024-11-14 11:13
Exhibit 99.1 OneConnect Announces Third Quarter and Nine Months Ended September 30, 2024 Unaudited Financial Results Revenue from third-party overseas customers increased by 23.4% YoY in first three quarters of 2024 SHENZHEN, China — (PRNewswire) — OneConnect Financial Technology Co., Ltd. ("OneConnect" or the "Company") (NYSE: OCFT and HKEX: 6638), a leading technology-as-a- service provider for the financial services industry in China, today announced its unaudited financial results for the third quarter ...
OCFT(OCFT) - 2024 Q2 - Earnings Call Transcript
2024-08-16 15:05
OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) Q2 2024 Earnings Conference Call August 16, 2024 8:00 AM ET Company Participants Rick Chan - Head of IR Shen Chongfeng - Chairman & CEO Luo Yongtao - CFO Conference Call Participants Judy Zhang - Citigroup Operator Ladies and gentlemen, thank you for standing by and welcome to OneConnect Second Quarter 2024 Earnings Call. We will be having a question-and-answer session after the management's prepared remarks. [Operator Instructions] Thank you. Please not ...
OCFT(OCFT) - 2024 Q2 - Quarterly Report
2024-08-16 10:41
Exhibit 99.1 OneConnect Announces First Quarter 2024 Unaudited Financial Results Gross Margin of Continuing Operations Improved by 0.3ppt and Net Margin of Continuing Operations to Shareholders Narrowed by 0.7ppt for First Quarter 2024 SHENZHEN, China – (PR NEWSWIRE) – OneConnect Financial Technology Co., Ltd. ("OneConnect" or the "Company") (NYSE: OCFT and HKEX: 6638), a leading technology-as-a- service provider for financial services industry in China, today announced its unaudited financial results for t ...