Oneconnect Financial Technology Co Ltd Stock Price, News & Analysis

OneConnect Financial Technology (NYSE: OCFT, HKEX: 6638) reported its Q1 2025 financial results, showing significant revenue decline and continued losses. Revenue from continuing operations fell 49.2% YoY to RMB368 million, primarily due to a 99.5% decrease in cloud services platform revenue following strategic phasing out. The company's gross margin contracted to 28.5% from 37.7% year-over-year. Loss from continuing operations attributable to shareholders improved to RMB38 million from RMB54 million in Q1 2024, though net margin deteriorated to -10.4% from -7.4%. By segment, Digital Insurance showed 8.1% growth, while Digital Banking and Gamma Platform declined by 35.6% and 71.8% respectively. The company completed the disposal of its virtual bank business to Lufax for HK$933 million in April 2024.

OneConnect Financial Technology (NYSE: OCFT, HKEX: 6638), a leading technology-as-a-service provider for China's financial services industry, has scheduled the release of its Q1 2025 financial results. The quarterly results, covering the period ending March 31, 2025, will be published before U.S. markets open on Wednesday, May 28, 2025. Investors and interested parties can access the financial results through OneConnect's investor relations websites at ir.ocft.com and irhk.ocft.com.

OneConnect Financial Technology (NYSE: OCFT) has released its 2024 ESG Report, marking its third consecutive year of ESG reporting. The company identified 25 key material topics and aligned its disclosures with major international frameworks including GRI, SASB, and TCFD.

Key achievements include:

• Pledge to achieve operational carbon neutrality by 2030
• Maintained per capita greenhouse gas emissions below 0.4 metric tons CO₂
• Reduced office energy consumption by 46%
• Conducted responsibility assessments for 314 suppliers
• Registered 35 new software copyrights
• Serves 197 overseas financial institutions across 20+ countries

The company focused on green finance, underbanked communities service, financial risk mitigation, and global development. OneConnect enhanced its ESG framework through strategic planning, business processes, product development, and risk management. Notable recognitions include inclusion in the S&P Global Sustainability Yearbook (China Edition) 2025 and Forbes China's Top 10 Fintech Companies in ESG Practices.

OneConnect Financial Technology (NYSE: OCFT and HKEX: 6638), a leading technology-as-a-service provider for China's financial services industry, has announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2024. The report was submitted to the Securities and Exchange Commission on April 24, 2025.

The annual report, which includes the company's audited consolidated financial statements, is accessible through the SEC's website and OneConnect's investor relations portal. Shareholders and ADS holders can request a free hard copy of the annual report by contacting OCFT_IR@ocft.com.

OneConnect Financial Technology (NYSE: OCFT) participated in the World Internet Conference Asia-Pacific Summit on April 14-15, 2025, focusing on digital finance integration. Chen Dangyang, Chairman and CEO, highlighted the company's achievements, including:

- Supporting Ping An's RMB 10.14 trillion investment in 2024 for real economy development
- Serving 100% of state-owned and joint-stock banks in China
- Expanding to 20 countries with 197 overseas financial institutions
- Providing technological support for Ping An's digital transformation

The company showcased its role in implementing the 'Five Key Pillars': technology finance, green finance, inclusive finance, retirement finance, and digital finance. OneConnect received recognition including the First Prize for Financial Technology Development from the People's Bank of China.

OneConnect Financial Technology (NYSE: OCFT) reported its Q4 and full-year 2024 financial results, showing significant declines across major metrics. Q4 revenue from continuing operations decreased 52.9% to RMB415 million from RMB882 million year-over-year, primarily due to strategic phasing out of cloud services.

Full-year 2024 revenue dropped to RMB2,248 million from RMB3,522 million in 2023. The company's net loss widened to RMB669 million, compared to RMB211 million in the previous year, mainly due to goodwill impairment of RMB132 million and reversal of deferred tax assets of RMB454 million.

Key performance indicators showed deterioration:

• Q4 gross margin declined to 34.2% from 39.0%
• Net margin decreased to -29.8% from -6.0%
• Loss per ADS increased to RMB-18.42 from RMB-5.82

OneConnect Financial Technology (NYSE: OCFT and HKEX: 6638), a leading technology-as-a-service provider for financial institutions in China, has scheduled the release of its Q4 and full-year 2024 financial results for Tuesday, March 18, 2025.

The company will make the quarterly results for the three months ended December 31, 2024, and the annual results for the full year ended December 31, 2024, available through its investor relations websites at ir.ocft.com and irhk.ocft.com.

OneConnect Financial Technology (NYSE: OCFT, HKSE: 6638) has announced the launch of its proprietary AI Agent Platform, incorporating open-source large language models DeepSeek and Qwen. The platform aims to accelerate digital transformation in the banking sector through a dual-engine strategy combining open-source models with specialized AI agents.

The solution features local deployment for enhanced security, model compression for cost efficiency, and modular toolchain with low-code development support for seamless integration. The platform has already been implemented across various banking scenarios, including wealth management, corporate lending, remote banking, and office assistance.

The technology focuses on advanced semantic comprehension, logical reasoning, and multi-turn interactions specifically designed for banking operations, helping financial institutions improve operational efficiency and customer experience.

OneConnect Financial Technology (NYSE: OCFT, HKEX: 6638) announced the results of its extraordinary general meeting held in Shenzhen on December 18, 2024. Shareholders approved four key agreements extending through December 31, 2027:

1. The 2024 Provision of Products and Services Agreement
2. The 2024 Services and Products Purchasing Agreement
3. The 2024 Financial Services Purchasing Agreement
4. The 2024 Property Leasing Agreement

Each resolution includes authorization for executive directors to execute necessary documents and implement the approved transactions under their respective annual caps.