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OCFT(OCFT) - 2024 Q1 - Earnings Call Presentation
2024-05-21 15:45
专业,科技创造价值 Technology Creates Value Through Expertise 金 融 壹 账 通2024年 第1季 度 业 绩发布会 OCF T E ar nings Release - Fir st Quar ter Results 2 0 2 4 2 0 2 4年 5 月 2 1 日 M ay 2 1 , 2 0 2 4 ...
OCFT(OCFT) - 2024 Q1 - Earnings Call Transcript
2024-05-21 15:44
Financial Data and Key Metrics Changes - The net loss from continuing operations attributable to shareholders improved to RMB60 million from RMB80 million year-on-year, a reduction of 21.2% [8] - Revenue from continuing operations was RMB723 million, a decrease of 19.1% compared to the same period last year [22] - Gross profit margin increased by 0.3 percentage points year-on-year to 37.7% [23][30] Business Line Data and Key Metrics Changes - Revenue from digital banking decreased by 37.6% year-on-year, accounting for 22.3% of total revenue [29] - Revenue from digital insurance decreased by 25.3% year-on-year, making up 18.2% of total revenue [29] - Gamma Platform segment accounted for 59.4% of total revenue, decreasing by 6.2% in Q1 2024 [29] Market Data and Key Metrics Changes - Revenue contribution from overseas customers increased by approximately 14.8% year-on-year, with overseas customer revenue making up 20% of third-party revenue [16] - Business growth in regions such as Hong Kong, Southeast Asia, South Africa, and the Middle East showed strong momentum [16] Company Strategy and Development Direction - The company is focusing on broadening customer engagements and optimizing products and services around digital banking, digital insurance, and the Gamma platform [10][11] - The strategy includes enhancing cooperation with financial regulators and expanding into international markets [11] - The company aims to leverage technology to empower financial institutions and improve operational efficiency [20] Management Comments on Operating Environment and Future Outlook - Management noted that the financial industry is facing challenges but emphasized the importance of digital transformation for future opportunities [38] - The company expects to achieve profitability in the medium term by focusing on improving third-party revenue and enhancing gross margins [32] Other Important Information - The company completed the disposal of its virtual banking business for HKD933 million, which is expected to provide additional working capital [22][36] - The company released its 2023 ESG report, highlighting its commitment to sustainable practices and financial technology empowerment [17][18] Q&A Session Summary Question: What is the reason behind the termination of Ping An Insurance Group on the Gamma Platform? - The change is due to a shift in procurement strategy by the customer, and the company is in negotiations to ensure a smooth transition [35] Question: When can we expect benefits from the recurring premium insurance in the digital insurance business? - The insurance industry is under pressure, but digital transformation remains a priority, which could create new opportunities for the company [38] Question: What is the growth driver for the Gamma Platform? - The Gamma Platform has high customer stickiness, and future growth will leverage technology strengths and explore new opportunities [40] Question: What is the profit margin of the cloud business? - The cloud business has been relatively stable and profitable, contributing about 30% to overall revenue [42]
OCFT(OCFT) - 2023 Q4 - Annual Report
2024-04-23 11:04
Exhibit 99.1 | --- | --- | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------| | | | | 壹 账 通 金 融 科 技 有 限 公 司ONECONNECT FINANCIAL TECHNOLOGY CO., LTD. (Incorporated in the Cayman Islands with limited liability)Stock Code : 6638 NYSE: OCFT | | | | | | Annual Report 2023 | | Contents Corporate Information 2 Financial Performance Highlights 4 Chairman's Statement 7 Management Disc ...
OneConnect Files Annual Report on Form 20-F
Prnewswire· 2024-04-23 11:04
SHENZHEN, China, April 23, 2024 /PRNewswire/ -- OneConnect Financial Technology Co., Ltd. ("OneConnect" or the "Company") (NYSE: OCFT and HKEX: 6638), a leading technology-as-a-service provider for financial institutions in China, today announced it filed its annual report on Form 20-F for the fiscal year ended December 31, 2023 with the Securities and Exchange Commission (the "SEC") on April 23, 2024 U.S. Eastern Time. The annual report on Form 20-F, which contains the Company's audited consolidated financ ...
OCFT(OCFT) - 2023 Q4 - Annual Report
2024-04-23 10:36
Table of Contents OCFT 6638 The New York Stock Exchange The Stock Exchange of Hong Kong Limited UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12 (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, 2023. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ...
OCFT(OCFT) - 2023 Q4 - Earnings Call Transcript
2024-03-18 15:29
OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) Q4 2023 Earnings Call Transcript March 18, 2024 8:00 AM ET Company Participants Rick Chan - Head of IR Shen Chong Feng - Chairman and CEO Luo Yongtao - CFO Li Jie - CTO Conference Call Participants Lydia Lin - Morgan Stanley Yixuan Li - Guotai Junan Operator Ladies and gentlemen, thank you for standing by, and welcome to OneConnect's Fourth Quarter and Full Year 2023 Earnings Call. [Operator Instructions]. Please note this event is being recorded. Now I ...
OCFT(OCFT) - 2024 Q1 - Quarterly Report
2024-03-18 13:11
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 Code: 663 ...
OneConnect to Announce Fourth Quarter and Full Year 2023 Financial Results
Prnewswire· 2024-03-06 11:00
SHENZHEN, China, March 6, 2024 /PRNewswire/ -- OneConnect Financial Technology Co., Ltd. (NYSE: OCFT and HKEX: 6638) ("OneConnect" or the "Company"), a leading technology-as-a-service platform for financial institutions in China, today announced that it will release (i) the quarterly results of the Company and its subsidiaries for the three months ended December 31, 2023, and its publication and (ii) the annual results of the Company and its subsidiaries for the full year ended December 31, 2023, and its pu ...
OneConnect Announces Extraordinary General Meeting Results
Prnewswire· 2024-01-16 11:00
SHENZHEN, China, Jan. 16, 2024 /PRNewswire/ -- OneConnect Financial Technology Co., Ltd. ("OneConnect" or the "Company") (NYSE: OCFT and HKEX: 6638), a leading technology-as-a-service provider for financial institutions in China, today announced the results of its extraordinary general meeting of shareholders held in Shenzhen on January 16, 2024. At the meeting, the shareholders of OneConnect Financial Technology Co., Ltd. approved, ratified and/or confirmed the following resolution: The share purchase agre ...
OCFT(OCFT) - 2023 Q3 - Earnings Call Transcript
2023-11-14 20:00
OneConnect Financial Technology Co. Inc. (NYSE:OCFT) Q3 2023 Earnings Conference Call November 14, 2023 8:00 AM ET Company Participants Shen Chong Feng - Chairman, Chief Executive Officer Luo Yongtao - Chief Financial Officer Rick Chan - Head of Investor Relations Conference Call Participants Lydia Lin - Morgan Stanley Yixuan Li - Guotai Junan Securities Alan Kuang - Citi Rick Chan Thank you Operator. Hello everyone and welcome to our 2023 third quarter earnings conference call. Our financial and operati ...