OneConnect Financial Technology Co., Ltd. provides cloud-platform-based Fintech solutions, and online information and operating support services for financial institutions in the People's Republic of China. It offers digital retail banking, small and medium enterprises (SME) financing and services, retail and SME banking risk-management, auto insurance operations and services, asset management, asset-liability management, artificial intelligence customer service, core systems, and insurance sales management solutions. The company also operates Regtech, an end-to-end regulatory solution to help regulatory authorities automate and digitalize their operations; Gamma O, an open API platform-as-a-service for reusable financial technology components and integrations; and Blockchain network-as-a-service. In addition, it provides technology infrastructure, such as data management and cloud services. The company serves customers in the financial services industry, including banking, insurance, and asset management. OneConnect Financial Technology Co., Ltd. was founded in 2015 and is headquartered in Shenzhen, the People's Republic of China. OneConnect Financial Technology Co., Ltd. has a strategic agreement with the Hainan Local Financial Supervision Administration to develop smart financial and smart supervision services in the island province of Hainan, as well as the financial sector in Hainan free trade port. OneConnect Financial Technology Co., Ltd. operates as a subsidiary of Ping An Insurance (Group) Company of China, Ltd.
IPO Year: 2019
Exchange: NYSE
Website: ocft.com
| 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 |
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
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%,
SHENZHEN, China, Aug. 6, 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 June 30, 2024, and its publication before U.S. markets open on Friday, August 16, 2024. A conference call will follow on the same day. Date/Time Friday, August 16, 2024 at 8:00 a.m., U.S. Eastern timeFriday, August 16, 2024 at 8:00 p.m., Hong Kong time Participant Online Registration Link: https://www.netroadshow.com/events/login?show=1b2c1d6f&confId=69140 The
Gross Margin of Continuing Operations[1] Improved by 0.3ppt and Net Margin of Continuing Operations to Shareholders Narrowed by 0.7ppt for First Quarter 2024 SHENZHEN, China, May 21, 2024 /PRNewswire/ -- OneConnect Financial Technology Co., Ltd. ("OneConnect" or the "Company") (NYSE:OCFT), a leading technology-as-a- service provider for financial services industry in China, today announced its unaudited financial results for the first quarter ended March 31, 2024. First Quarter 2024 Financial Highlights Revenue from continuing operations was RMB723 million as compared to RMB894 million for the same period of the prior year.Gross margin of continuing operations increased by 0.3ppt year-over-
SHENZHEN, China, May 8, 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 March 31, 2024, and its publication before U.S. markets open on Tuesday, May 21, 2024. A conference call will follow on the same day. Date/Time Tuesday, May 21, 2024 at 8:00 a.m., U.S. Eastern timeTuesday, May 21, 2024 at 8:00 p.m., Hong Kong time Participant Online Registration Link: https://www.netroadshow.com/events/login?show=f962eec4&confId=64991 The Compan
Net Margin to Shareholders Improved to -8.8% for Fourth Quarter 2023 SHENZHEN, China, March 18, 2024 /PRNewswire/ -- OneConnect Financial Technology Co., Ltd. ("OneConnect" or the "Company") (NYSE:OCFT), a leading technology-as-a-service provider for financial services industry in China, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2023. Fourth Quarter 2023 Financial Highlights Net loss attributable to shareholders was RMB81 million, as compared to RMB177 million for the same period of the prior year. Net margin to shareholders improved by 5.5 percentage points to -8.8% as compared to -14.3% for the same period of the prior year.Net
SHENZHEN, China, March 6, 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 (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 publication before U.S. markets open on Monday, March 18, 2023. A conference call will follow on the same day. Date/Time Monday, March 18, 2024 at 8:00 a.m., U.S. Eastern timeMonday, March 18, 2024 at 8:00
Net Margin to Shareholders Improved to -10.8% for Third Quarter 2023 SHENZHEN, China, Nov. 13, 2023 /PRNewswire/ -- OneConnect Financial Technology Co., Ltd. ("OneConnect" or the "Company") (NYSE:OCFT), a leading technology-as-a-service provider for financial services industry in China, today announced its unaudited financial results for the third quarter and nine months ended September 30, 2023. Third Quarter 2023 Financial Highlights Revenue was RMB844 million as compared to RMB1,069 million for the same period of the prior year.Gross margin decreased slightly to 35.0% as compared to 35.1% for the same period of the prior year; non-IFRS gross margin increased 1.0 percentage point to 39.4%
Gross Margin Remained Stable and Net Margin to Shareholders Improved by 13.2ppt YoY for Second Quarter 2023 SHENZHEN, China, Aug. 16, 2023 /PRNewswire/ -- OneConnect Financial Technology Co., Ltd. ("OneConnect" or the "Company") (NYSE:OCFT), a leading technology-as-a-service provider for financial services industry in China, today announced its unaudited financial results for the second quarter and half year ended June 30, 2023. Second Quarter 2023 Financial Highlights Revenue was RMB973 million as compared to RMB1,134 million for the same period of the prior year.Gross margin remained stable at 36.2%, the same for the same period of the prior year; non-IFRS gross margin decreased slightly t
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%,
SHENZHEN, China, Aug. 6, 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 June 30, 2024, and its publication before U.S. markets open on Friday, August 16, 2024. A conference call will follow on the same day. Date/Time Friday, August 16, 2024 at 8:00 a.m., U.S. Eastern timeFriday, August 16, 2024 at 8:00 p.m., Hong Kong time Participant Online Registration Link: https://www.netroadshow.com/events/login?show=1b2c1d6f&confId=69140 The
SHENZHEN, China, May 28, 2024 /PRNewswire/ -- OneConnect Financial Technology Co., Ltd. ("OneConnect" or the "Company") (NYSE:OCFT), a leading technology-as-a-service provider for financial services industry in China, today announced the results of its annual general meeting of shareholders held in Shenzhen on May 28, 2024. At the meeting, the shareholders of OneConnect approved, ratified and/or confirmed the following resolution: To receive and adopt the audited consolidated financial statements and the reports of the directors of the Company (the "Directors") and auditor for the year ended December 31, 2023.(i) To re-elect Mr. Chongfeng Shen as an executive Director.(ii) To re-elect Mr. M
Gross Margin of Continuing Operations[1] Improved by 0.3ppt and Net Margin of Continuing Operations to Shareholders Narrowed by 0.7ppt for First Quarter 2024 SHENZHEN, China, May 21, 2024 /PRNewswire/ -- OneConnect Financial Technology Co., Ltd. ("OneConnect" or the "Company") (NYSE:OCFT), a leading technology-as-a- service provider for financial services industry in China, today announced its unaudited financial results for the first quarter ended March 31, 2024. First Quarter 2024 Financial Highlights Revenue from continuing operations was RMB723 million as compared to RMB894 million for the same period of the prior year.Gross margin of continuing operations increased by 0.3ppt year-over-
SHENZHEN, China, May 8, 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 March 31, 2024, and its publication before U.S. markets open on Tuesday, May 21, 2024. A conference call will follow on the same day. Date/Time Tuesday, May 21, 2024 at 8:00 a.m., U.S. Eastern timeTuesday, May 21, 2024 at 8:00 p.m., Hong Kong time Participant Online Registration Link: https://www.netroadshow.com/events/login?show=f962eec4&confId=64991 The Compan
SHENZHEN, China, April 23, 2024 /PRNewswire/ -- OneConnect Financial Technology Co., Ltd. ("OneConnect" or the "Company") (NYSE:OCFT), 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 financial statements, can be accessed on the SEC's website at http://www.sec.gov as well as through the Company's investor relations website at http://ir.ocft.com. The Company will provide a hard copy of its a
Net Margin to Shareholders Improved to -8.8% for Fourth Quarter 2023 SHENZHEN, China, March 18, 2024 /PRNewswire/ -- OneConnect Financial Technology Co., Ltd. ("OneConnect" or the "Company") (NYSE:OCFT), a leading technology-as-a-service provider for financial services industry in China, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2023. Fourth Quarter 2023 Financial Highlights Net loss attributable to shareholders was RMB81 million, as compared to RMB177 million for the same period of the prior year. Net margin to shareholders improved by 5.5 percentage points to -8.8% as compared to -14.3% for the same period of the prior year.Net
SHENZHEN, China, March 6, 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 (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 publication before U.S. markets open on Monday, March 18, 2023. A conference call will follow on the same day. Date/Time Monday, March 18, 2024 at 8:00 a.m., U.S. Eastern timeMonday, March 18, 2024 at 8:00
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)
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)
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)
6-K - ONECONNECT FINANCIAL TECHNOLOGY CO., LTD. (0001780531) (Filer)
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)
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)
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.
Citigroup analyst Judy Zhang maintains OneConnect Financial Tech (NYSE:OCFT) with a Buy and raises the price target from $6.98 to $7.
OneConnect Financial Tech (NYSE:OCFT) reported quarterly losses of $(0.31) per share which beat the analyst consensus estimate of $(1.62) by 80.8 percent. This is a 53.58 percent increase over losses of $(0.67) per share from the same period last year. The company reported quarterly sales of $128.31 million which missed the analyst consensus estimate of $142.69 million by 10.08 percent. This is a 26.53 percent decrease over sales of $174.65 million the same period last year.
Companies Reporting Before The Bell • Niu Techs (NASDAQ:NIU) is expected to report earnings for its fourth quarter. • System1 (NYSE:SST) is estimated to report quarterly loss at $0.33 per share on revenue of $93.81 million. • Embraer (NYSE:ERJ) is estimated to report quarterly earnings at $0.53 per share on revenue of $2.00 billion. • Nano Labs (NASDAQ:NA) is estimated to report earnings for its Fiscal Year 2023. • Coda Octopus Group (NASDAQ:CODA) is likely to report quarterly earnings at $0.01 per share on revenue of $3.99 million. • Exagen (NASDAQ:XGN) is likely to report quarterly loss at $0.43 per share on revenue of $11.56 million. • Science Applications Intl (NASDAQ:SAIC) is lik
OneConnect Financial Tech (NYSE:OCFT) is set to give its latest quarterly earnings report on Monday, 2024-03-18. Here's what investors need to know before the announcement. Analysts estimate that OneConnect Financial Tech will report an earnings per share (EPS) of $-1.62. OneConnect Financial Tech bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter. New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast). Historical Earnings Performance Last quarter the company missed EPS by $0.34, which w
Gainers Dave (NASDAQ:DAVE) stock increased by 8.7% to $16.0 during Monday's pre-market session. The company's market cap stands at $192.8 million. Synchronoss Technologies (NASDAQ:SNCR) shares rose 6.64% to $7.7. The company's market cap stands at $79.8 million. Teradyne (NASDAQ:TER) shares rose 6.2% to $112.0. The company's market cap stands at $17.1 billion. Mawson Infra Gr (NASDAQ:MIGI) shares increased by 6.17% to $2.58. The company's market cap stands at $42.9 million. ReAlpha Tech Corp (NASDAQ:AIRE) stock rose 6.01% to $1.41. The market value of their outstanding shares is at $62.2 million. Alarum Technologies (NASDAQ:ALAR) shares rose 5.98% to $11.15. The market value of their o
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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
Keybanc reiterated coverage of OneConnect Financial Tech with a rating of Overweight and set a new price target of $10.00 from $24.00 previously
Morgan Stanley downgraded OneConnect Financial Tech from Overweight to Equal-Weight and set a new price target of $7.50 from $19.00 previously
Keybanc reiterated coverage of OneConnect Financial Tech with a rating of Overweight and set a new price target of $24.00 from $28.00 previously
HSBC reiterated coverage of OneConnect Financial Technology with a rating of Buy and set a new price target of $26.00 from $27.00 previously