Goldman resumed coverage on OneConnect Financial with a new price target
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Goldman resumed coverage of OneConnect Financial with a rating of Neutral and set a new price target of $2.20
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/18/2022 | Hold | HSBC Securities | |
| 4/11/2022 | $2.20 | Neutral | Goldman |
| 2/24/2022 | $1.50 | Buy → Hold | HSBC Securities |
| 8/5/2021 | $24.00 → $10.00 | Overweight | Keybanc |
| 8/4/2021 | $19.00 → $7.50 | Overweight → Equal-Weight | Morgan Stanley |
HSBC Securities resumed coverage of OneConnect Financial with a rating of Hold
Goldman resumed coverage of OneConnect Financial with a rating of Neutral and set a new price target of $2.20
HSBC Securities downgraded OneConnect Financial from Buy to Hold and set a new price target of $1.50
SC 13G/A - ONECONNECT FINANCIAL TECHNOLOGY CO., LTD. (0001780531) (Subject)
SC 13G/A - ONECONNECT FINANCIAL TECHNOLOGY CO., LTD. (0001780531) (Subject)
SC 13G/A - ONECONNECT FINANCIAL TECHNOLOGY CO., LTD. (0001780531) (Subject)
Key Takeaways: OneConnect will shutter its cloud services division, which accounted for nearly half its revenue, after losing most of its customers for the business The development underscores a major risk for Chinese companies that rely too heavily on business from their parent and other related companies By Doug Young The story of former fintech highflyer OneConnect Financial Technology Co. Ltd. (NYSE:OCFT) is rapidly shaping up as a tale of an incredible shrinking company. It also offers a valuable corporate lesson on the dangers of relying too heavily on business from related companies. OneConnect made headlines late last week when it announced it would shutter its cloud services
OneConnect Financial Tech (NYSE:OCFT) reported quarterly losses of $(0.21) per ADS. This is a 53.08 percent increase over losses of $(0.44) per ADS from the same period last year. The company reported $100.83 million in sales this quarter. This is a 25.50 percent decrease over sales of $135.33 million the same period last year.
Revenue from third-party overseas customers increased by 23.4% YoY in first three quarters of 2024 SHENZHEN, China, Nov. 14, 2024 /PRNewswire/ -- OneConnect Financial Technology Co., Ltd. ("OneConnect" or the "Company") (NYSE:OCFT), a leading technology-as-a-service provider for the financial services industry in China, today announced its unaudited financial results for the third quarter and nine months ended September 30, 2024. Third Quarter 2024 Financial Highlights Revenue from continuing operations[1] was RMB417 million, compared to RMB807 million during the same period last year.Gross margin of continuing operations was 32.7%, compared to 36.6% during the same period last year; non-IF
SHENZHEN, China, Nov. 4, 2024 /PRNewswire/ -- OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) ("OneConnect" or the "Company"), a leading technology-as-a-service platform for financial institutions in China, today announced that it will release the quarterly results of the Company and its subsidiaries for the three months ended September 30, 2024, and its publication before U.S. markets open on Thursday, November 14, 2024. A conference call will follow on the same day. Date/Time Thursday, November 14, 2024 at 7:00 a.m., U.S. Eastern timeThursday, November 14, 2024 at 8:00 p.m., Hong Kong time Participant Online Registration Link: https://www.netroadshow.com/events/login?show=44204564&c
Net Margin of Continuing Operations to Shareholders Improved to -2.4%Net Margin of Continuing and Discontinued Operations[1] to Shareholders Improved to 35.1% SHENZHEN, China, Aug. 16, 2024 /PRNewswire/ -- OneConnect Financial Technology Co., Ltd. ("OneConnect" or the "Company") (NYSE:OCFT), a leading technology-as-a-service provider for the financial services industry in China, today announced its unaudited financial results for the second quarter and half year ended June 30, 2024. Second Quarter 2024 Financial Highlights Revenue from continuing operations was RMB692 million, compared to RMB939 million for the same period of the prior year.Gross margin of continuing operations was 36.6%,
Revenue from third-party overseas customers increased by 23.4% YoY in first three quarters of 2024 SHENZHEN, China, Nov. 14, 2024 /PRNewswire/ -- OneConnect Financial Technology Co., Ltd. ("OneConnect" or the "Company") (NYSE:OCFT), a leading technology-as-a-service provider for the financial services industry in China, today announced its unaudited financial results for the third quarter and nine months ended September 30, 2024. Third Quarter 2024 Financial Highlights Revenue from continuing operations[1] was RMB417 million, compared to RMB807 million during the same period last year.Gross margin of continuing operations was 32.7%, compared to 36.6% during the same period last year; non-IF
SHENZHEN, China, Nov. 4, 2024 /PRNewswire/ -- OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) ("OneConnect" or the "Company"), a leading technology-as-a-service platform for financial institutions in China, today announced that it will release the quarterly results of the Company and its subsidiaries for the three months ended September 30, 2024, and its publication before U.S. markets open on Thursday, November 14, 2024. A conference call will follow on the same day. Date/Time Thursday, November 14, 2024 at 7:00 a.m., U.S. Eastern timeThursday, November 14, 2024 at 8:00 p.m., Hong Kong time Participant Online Registration Link: https://www.netroadshow.com/events/login?show=44204564&c
Net Margin of Continuing Operations to Shareholders Improved to -2.4%Net Margin of Continuing and Discontinued Operations[1] to Shareholders Improved to 35.1% SHENZHEN, China, Aug. 16, 2024 /PRNewswire/ -- OneConnect Financial Technology Co., Ltd. ("OneConnect" or the "Company") (NYSE:OCFT), a leading technology-as-a-service provider for the financial services industry in China, today announced its unaudited financial results for the second quarter and half year ended June 30, 2024. Second Quarter 2024 Financial Highlights Revenue from continuing operations was RMB692 million, compared to RMB939 million for the same period of the prior year.Gross margin of continuing operations was 36.6%,
6-K - ONECONNECT FINANCIAL TECHNOLOGY CO., LTD. (0001780531) (Filer)
6-K - ONECONNECT FINANCIAL TECHNOLOGY CO., LTD. (0001780531) (Filer)
6-K - ONECONNECT FINANCIAL TECHNOLOGY CO., LTD. (0001780531) (Filer)
vKYC timely addresses the imperative need for Sri Lankans to open bank accounts, apply for loans and credit cards remotely amidst the pandemic First AI-based vKYC to roll out in Sri Lanka following the new regulation OneConnect's vKYC will be deployed on an agile SaaS model that is intuitive and scalable SINGAPORE, June 2, 2021 /PRNewswire/ -- National Development Bank PLC (NDB Bank), the fourth largest listed commercial bank in Sri Lanka, today announced at a signing ceremony that it has appointed international enterprise software solutions partner specialising in digital transformation, Axion Solutions, to implement world-class Video Know-Your-Customer (vKYC) built by OneConnect Financia
SHENZHEN, China, May 26, 2021 (GLOBE NEWSWIRE) -- LexinFintech Holdings Ltd. ("Lexin" or the "Company") (NASDAQ:LX), a leading online consumption and consumer finance platform for new generation consumers in China, today announced that Mr. Craig Yan Zeng has tendered in his resignation as the Chief Financial Officer ("CFO"), effective on June 7, 2021. Mr. Kris Qiao Qian, Lexin's Chief Financing Cooperation Officer, has been appointed as the acting CFO. Mr. Zeng's resignation from his position was due to personal reasons, and he will remain as a director of the board of directors of the Company (the "Board") and also serve as a senior consultant to the company following his resignation.
SHANGHAI--(BUSINESS WIRE)--Lufax Holding Ltd (“Lufax” or the “Company”) (NYSE: LU), a leading technology-empowered personal financial services platform in China, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2020. Fourth Quarter 2020 Financial Highlights Total income increased by 5.9% to RMB13,286 million (US$2,036 million) in fourth quarter of 2020 from RMB12,549 million in the same period of 2019. Net profit increased by 17.4% to RMB2,847 million (US$436 million) in fourth quarter of 2020 from RMB2,425 million in the same period of 2019. (In millions except percentages, unaudited) Three Months Ended December 3