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金融壹账通(06638) - 2023 Q1 - 季度业绩
OCFTOCFT(HK:06638)2023-05-22 11:29

Revenue Performance - Revenue for Q1 2023 was RMB 926 million, a decrease from RMB 1,019 million in the same period last year[4]. - Total revenue for Q1 2023 decreased by 9.1% to RMB 926 million from RMB 1,019 million in the same period last year, primarily due to a focus on high-value products and a reduction in low-margin customized projects[43]. - Revenue from customer service decreased by 57.3% to RMB 49 million, mainly due to reduced transaction volumes in retail banking customer service modules[43]. - Revenue from Ping An Group was RMB 536.854 million, down 2.2% year-over-year, while revenue from Lufax decreased by 44.7% to RMB 71.357 million[65]. - The digital banking segment's revenue decreased by 33.2% to RMB 258.738 million, primarily due to a reduction in transaction volumes for customer service and risk management services[69]. - Cloud service platform revenue was RMB 292 million, a slight decrease of 1.2% year-on-year, while virtual banking business revenue grew by 51.6% to RMB 32 million[9]. - The virtual banking business recorded a revenue increase of 51.6% to RMB 32.120 million in the first quarter of 2023[69]. Profitability and Loss - Net loss attributable to shareholders narrowed to RMB 109 million, compared to RMB 318 million in the same period last year, with basic and diluted loss per American depositary share improving from RMB -8.58 to RMB -3.00[15]. - The net loss attributable to shareholders decreased by 65.7% to RMB 109 million, compared to RMB 318 million in the same period last year, with a net loss margin improvement of 19.4 percentage points to -11.8% from -31.2%[38]. - For the first quarter of 2023, the company's operating loss decreased by 67.8% to RMB 114 million, compared to RMB 355 million in the same period last year, with an operating loss margin narrowing from 34.8% to 12.4%[64]. - Operating loss narrowed to RMB 114,411 thousand compared to RMB 354,895 thousand in the prior year, reflecting improved operational efficiency[80]. - The company aims to continue narrowing the net loss margin for sustainable growth in 2023[41]. Expenses Management - R&D expenses decreased from RMB 363 million to RMB 288 million, representing 31.1% of revenue, down from 35.6% in the previous year[13]. - General and administrative expenses reduced significantly from RMB 211 million to RMB 107 million, accounting for 11.6% of revenue, down from 20.7%[14]. - Sales and marketing expenses were reduced to RMB 64 million from RMB 109 million year-over-year, with the percentage of sales and marketing expenses to revenue decreasing from 10.7% to 6.9%[73]. - Operating expenses decreased from RMB 700 million to RMB 486 million, with operating expenses as a percentage of revenue dropping by 16.2 percentage points to 52.5%[47]. - The cost of revenue for the first quarter of 2023 decreased by 13.0% to RMB 583 million, primarily due to reduced service fees and the elimination of low-value projects[71]. Financial Position - The total liabilities decreased from RMB 5,604.3 million to RMB 5,288.4 million[22]. - Total assets amounted to RMB 8,406,382 thousand, down from RMB 8,882,382 thousand year-on-year[57]. - Cash and cash equivalents at the end of the period were RMB 1,646,431 thousand, an increase from RMB 1,270,695 thousand year-over-year[87]. - The company reported a net cash used in operating activities of RMB 613,264 thousand, an improvement from RMB 1,118,694 thousand in the previous year[87]. - Cash used in operating activities was RMB 613 million, while cash generated from investing activities was RMB 407 million[50]. Strategic Focus - The company expressed confidence in the potential of the Chinese fintech industry, with total technology spending by financial institutions expected to reach RMB 799.3 billion by 2025[6]. - The company continues to focus on customer deepening strategies and digital transformation amid a challenging macro environment[6]. - The company aims to strengthen product integration and deepen customer relationships in 2023, focusing on high-quality clients to support effective growth for financial institutions[67]. - The company has established long-term partnerships with financial institutions to meet their digital transformation needs and has successfully exported technology solutions to overseas financial institutions[76]. - The company continues to focus on maintaining and expanding its customer base while navigating regulatory challenges in the financial services sector[78].