UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of May 2024
Commission File Number: 001-39147
ONECONNECT FINANCIAL TECHNOLOGY CO., LTD.
(Registrant’s Name)
21/24F, Ping An Finance Center
No. 5033 Yitian Road, Futian District
Shenzhen, Guangdong, 518000
People’s Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
EXHIBIT INDEX
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| |
OneConnect Financial Technology Co., Ltd. |
| |
|
| |
By: |
/s/ Chongfeng Shen |
| |
Name: |
Chongfeng Shen |
| |
Title: |
Chairman of the Board and Chief Executive Officer |
|
Date: May 21, 2024 |
|
|
Exhibit
99.1
OneConnect
Announces First Quarter 2024 Unaudited Financial Results
Gross
Margin of Continuing Operations1 Improved by 0.3ppt and Net Margin of Continuing
Operations to Shareholders Narrowed by 0.7ppt for First Quarter 2024
SHENZHEN,
China – (PR NEWSWIRE) – OneConnect Financial Technology Co., Ltd. (“OneConnect” or the “Company”)
(NYSE: OCFT and HKEX: 6638), 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-year to 37.7% as compared to
37.4% for the same period of the prior year; non-IFRS gross margin of continuing operations
was 40.0% as compared to 40.1% for the same period of the prior year. |
| ● | Operating
loss from continuing operations narrowed 15.1% to RMB66 million, as compared to RMB78 million
for the same period of the prior year. Operating margin of continuing operations increased
to -9.2% from -8.7% for the same period of the prior year. |
| ● | Net
loss from continuing operations attributable to shareholders narrowed by 25.9% to RMB54 million,
as compared to RMB72 million for the same period of the prior year. Net margin of continuing
operations to shareholders narrowed by 0.7ppt to -7.4% as compared to -8.1% for the same
period of the prior year. |
| ● | Net
loss from continuing operations per ADS, basic and diluted, was RMB-1.48 as compared to RMB-2.00
for the same period of the prior year. |
| 1 | As
previously reported, the Company completed the disposal of its virtual bank business (the
“discontinued operations”) to Lufax for a consideration of HK$933 million in
cash on April 2, 2024. As a result of the disposal, the historical financial results of the
Virtual Banking Business segment have been reflected as the “discontinued operations”
in the Company’s condensed consolidated financial statements and the historical financial
results of the remaining business of the Company have been reflected as the “continuing
operations” in the Company’s condensed consolidated financial statements of the
first quarter of 2024 and of the comparative period in 2023. |
| | |
Three Months Ended | | |
| |
| In RMB’000, except percentages | |
March 31 | | |
| |
| and per ADS amounts | |
2024 | | |
2023 | | |
YoY | |
| Continuing operations | |
| | | |
| | | |
| | |
| Revenue | |
| | | |
| | | |
| | |
| Revenue
from Ping An Group | |
| 421,796 | | |
| 536,854 | | |
| -21.4 | % |
| Revenue from Lufax | |
| 58,256 | | |
| 71,357 | | |
| -18.4 | % |
| Revenue
from third-party customers1 | |
| 243,218 | | |
| 285,615 | | |
| -14.8 | % |
| Total | |
| 723,270 | | |
| 893,826 | | |
| -19.1 | % |
| Gross profit | |
| 272,403 | | |
| 334,657 | | |
| | |
| Gross margin | |
| 37.7 | % | |
| 37.4 | % | |
| | |
| Non-IFRS gross margin | |
| 40.0 | % | |
| 40.1 | % | |
| | |
| Operating loss | |
| (66,348 | ) | |
| (78,142 | ) | |
| | |
| Operating margin | |
| -9.2 | % | |
| -8.7 | % | |
| | |
| Net loss from
continuing operations attributable to shareholders | |
| (53,696 | ) | |
| (72,479 | ) | |
| | |
| Net margin of
continuing operations to shareholders | |
| -7.4 | % | |
| -8.1 | % | |
| | |
| Net
loss from continuing operations per ADS2, basic and diluted | |
| (1.48 | ) | |
| (2.00 | ) | |
| | |
| 1 | Third-party
customers refer to each customer with revenue contribution of less than 5% of the Company’s
total revenue in the relevant period. These customers are a key focus of the Company’s
diversification strategy. |
| 2 | In
RMB. Each ADS represents 30 ordinary shares. |
Chairman,
CEO and CFO Comments
Mr.
Chongfeng Shen, Chairman of the Board and Chief Executive Officer, commented, “Since the beginning of 2024, we have been continuously
optimizing our product and customer structure and focusing on our core businesses under the strategy of “Unite the Core, Empower
the Wings” in order to achieve quality development. We have continued to expand our overseas business and have recorded rapid growth.
Our revenue from third-party overseas customers from continuing operations increased by 14.8% on a year-over-year basis in the first
quarter of 2024. In the same quarter, we achieved remarkable results in costs reduction and efficiency improvement, and our loss continued
to narrow.”
Mr.
Chongfeng Shen further commented, “We have strengthened our research capabilities and introduced high value and high-end products
into the ever-involving financial technology industry. Our spirit of innovation has been well-received and recognized in the industry.
In the future, we will continue focusing on digital banking, digital insurance and Gamma platform, and continue to optimize our product
and customer structure, upgrade our services and further expand into overseas market. With our unique competence in integrating “technology
+ business”, we endeavor to continue to promote the development of new productivity in the financial industry.”
Mr. Yongtao Luo, Chief Financial Officer, commented,
“We continued to make steady progress towards its profitability targets in the first quarter of 2024. Gross margin of the Company’s
continuing operations for the first quarter was 37.7% and increased by 0.3ppt on a year-over-year basis. Benefiting from our success
in costs reduction and efficiency improvement, our operating expenses from our continuing operations decreased significantly by 17.7
% on a year-over-year basis. For research and development, we allocated our resources strategically and focused our capital and labor
efficiently on high-quality products and projects. As a result, our research and development expenses decreased by 22.8% on a year-over-year
basis while we also maximized the value of outputs from these research and development. As a result, our net loss from continuing operations
attributable to shareholders decreased by 25.9% on a year-over-year basis. Going forward, we will continue to strictly implement cost
control measures and improve operation efficiency. Meanwhile, we will enhance our product competitiveness and endeavor to drive revenue
growth, especially third-party revenue growth, from premium-plus customers. These efforts combined will help us reach our profitability
targets as early as possible and create more value for our shareholders and customers.”
“As previously disclosed, we received notifications
from certain subsidiaries and associates of Ping An Insurance (Group) Company of China, Ltd. that they intend to cease to utilize the
cloud services we provide under Gamma FinCloud platform. There are uncertainties as to whether any of the other connected customers will
continue to utilize our cloud services. We have been actively monitoring the situation and evaluating our business plans and further
measures in response to these developments and corresponding financial impact.”
Revenue
from Continuing Operations Breakdown
| | |
Three Months Ended | | |
| |
| | |
March 31 | | |
| |
| In RMB’000, except percentages | |
2024 | | |
2023 | | |
YoY | |
| Implementation | |
| 157,459 | | |
| 209,934 | | |
| -25.0 | % |
| Transaction-based
and support revenue | |
| | | |
| | | |
| | |
| Business origination services | |
| 12,835 | | |
| 49,046 | | |
| -73.8 | % |
| Risk management services | |
| 65,483 | | |
| 77,743 | | |
| -15.8 | % |
| Operation support services | |
| 134,062 | | |
| 222,545 | | |
| -39.8 | % |
| Cloud services platform | |
| 318,307 | | |
| 292,247 | | |
| 8.9 | % |
| Post-implementation support services | |
| 14,921 | | |
| 12,341 | | |
| 20.9 | % |
| Others | |
| 20,203 | | |
| 29,970 | | |
| -32.6 | % |
| Sub-total for transaction-based
and support revenue | |
| 565,811 | | |
| 683,892 | | |
| -17.3 | % |
| Total Revenue from Continuing Operations | |
| 723,270 | | |
| 893,826 | | |
| -19.1 | % |
Revenue
from continuing operations in the first quarter of 2024 declined by 19.1% to RMB723 million from RMB894 million for the same period in
the prior year, primarily due to a decline in transaction-based and support revenue as we continued to focus on high value products and
reduced customized projects with low margins in the first quarter. Implementation revenue decreased by 25.0% on a year-over-year basis
to RMB157 million, mainly due to a reduced demand for banking system products and Gamma Platform data middle platform system products
in the first quarter. Revenue from business origination services decreased by 73.8% on a year-over-year basis to RMB13 million, primarily
due to declined transaction volumes in Marketing Management Platform under digital retail banking solutions and in loan origination systems
under digital credit management solutions. Revenue from risk management services decreased by 15.8% on a year- over-year basis to RMB65
million, mainly due to reduced transaction volume in banking related risk analytic solutions because of slower than expected recovery
of banking activities in the first quarter. Revenue from operation support services decreased by 39.8% on a year-over-year basis to RMB134
million, which was primarily due to change of business model in some auto ecosystem services business that the Company migrates from
acting as a contractor to a distributor. Revenue from cloud services platform increased by 8.9% on a year-over-year basis to RMB318 million
due to the increased transaction volume of cloud services.
| | |
Three Months Ended | | |
| |
| | |
March 31 | | |
| |
| In RMB’000, except percentages | |
2024 | | |
2023 | | |
YoY | |
| Digital Banking segment | |
| 161,553 | | |
| 258,738 | | |
| -37.6 | % |
| Digital Insurance segment | |
| 131,886 | | |
| 176,657 | | |
| -25.3 | % |
| Gamma Platform segment | |
| 429,831 | | |
| 458,431 | | |
| -6.2 | % |
| Total from Continuing Operations | |
| 723,270 | | |
| 893,826 | | |
| -19.1 | % |
Revenue
from Gamma Platform segment, decreased by 6.2% to RMB430 million in the first quarter of 2024 from RMB458 million for the same period
last year, contributing 59.4% of the total revenue mainly because of lower demand of implementation services. Revenue from Digital Banking
segment decreased by 37.6% to RMB162 million in the first quarter of 2024 from RMB259 million for the same period last year, mainly caused
by reduction in transaction volume of our business origination services and risk management services. This revenue decline reflects our
continued efforts to phase out lower value products. Revenue from Digital Insurance segment decreased by 25.3% to RMB132 million in the
first quarter of 2024 from RMB177 million for the same period in the prior year, primarily due to change of business model in some auto
ecosystem services business that the Company migrates from acting as a contractor to a distributor.
First
Quarter 2024 Financial Results
Revenue
from Continuing Operations
Revenue
from continuing operations in the first quarter of 2024 decreased by 19.1% to RMB723 million from RMB894 million for the same period
in the prior year, primarily due to decline in transaction-based and support revenue. Revenue decline reflects our decision to adopt
quality growth strategy focusing on high value products and to reduce customized projects with low margins. We are encouraged to see
that gross margin of continuing operations for the quarter improved by 0.3ppt year-over-year to 37.7% because of this strategy. We aim
to establish a foundation for a durable and long-term development.
Cost
of Revenue from Continuing Operations
Cost
of revenue from continuing operations in the first quarter of 2024 decreased by 19.4% to RMB451 million from RMB559 million for the same
period in the prior year, primary due to decreased revenue and associated outsourcing labour costs. Cost of revenue declined more than
revenue because we phased out lower value products in the first quarter.
Gross
Profit from Continuing Operations
Gross
profit from continuing operations decreased to RMB272 million from RMB335 million for the same period in the prior year. Gross margin
of continuing operations improved to 37.7%, compared with 37.4% in the prior year, increased by 0.3ppt. Non-IFRS gross margin of continuing
operations was 40.0%, compared with 40.1% in the prior year. For a reconciliation of the Company’s IFRS and non-IFRS gross margin,
please refer to “Reconciliation of IFRS and Non- IFRS Results for continuing operations (Unaudited)”.
Operating
Loss and Expenses from Continuing Operations
Total
operating expenses from continuing operations for the first quarter of 2024 decreased to RMB342 million, compared with RMB416 million
for the same period in the prior year. As a percentage of revenue, total operating expenses from continuing operations increased by 0.8ppt
to 47.3% from 46.5%.
| ● | Research
and Development expenses from continuing operations for the first quarter of 2024 decreased
to RMB213 million from RMB276 million, mainly due to our initiative to invest in research
and development at a reasonable pace and selectively invest in profitable projects. As a
percentage of revenue, research and development expenses from continuing operations decreased
to 29.5%, compared with 30.9% in the prior year. |
| ● | Sales
and Marketing expenses from continuing operations for the first quarter of 2024 decreased
to RMB49 million, compared with RMB59 million in the prior year, mainly due to enhanced sales
capability and efficiency resulting from lowered personnel cost and associated selling costs.
As a percentage of revenue, sales and marketing expenses from continuing operations were
6.7%, compared with 6.6% in the prior year. |
| ● | General
and Administrative expenses from continuing operations for the first quarter of 2024
increased to RMB81 million from RMB80 million in the prior year. As a percentage of revenue,
general and administrative expenses from continuing operations increased to 11.1% from 9.0%,
primarily due to decreased revenue in the first quarter. |
Operating
loss from continuing operations for the first quarter of 2024 decreased notably to RMB66 million, compared with RMB78 million for the
same period in the prior year. Operating margin of continuing operations increased to -9.2% from -8.7% in the prior year.
Net
Loss from Discontinued Operations
Net
loss from discontinued operations in the first quarter of 2024 increased by 39.1% to RMB51 million from RMB36 million in the prior year.
Net
Loss from Continuing Operations Attributable to Shareholders
Net
loss from continuing operations attributable to OneConnect’s shareholders decreased by 25.9% to RMB54 million for the first quarter
of 2024, versus RMB72 million for the same period in the prior year. Net loss from continuing operations attributable to OneConnect’s
shareholders per basic and diluted ADS decreased to RMB-1.48, versus RMB-2.00 for the same period in the prior year. Weighted average
number of ordinary shares for the first quarter was 1,089,589,125.
Cash
Flow
For
the first quarter of 2024, net cash used in operating activities was RMB155 million. Net cash generated from investing activities was
RMB256 million. Net cash used in financing activities was RMB101 million.
Conference
Call Information
| Date/Time | Tuesday,
May 21, 2024 at 8:00 a.m., U.S. Eastern time
Tuesday, May 21, 2024 at 8:00 p.m., Hong Kong time |
| Online registration | https://www.netroadshow.com/events/login?show=f962eec4&confId=64991 |
The
financial results and an archived transcript will be available at OneConnect’s investor relations website at ir.ocft.com.
About
OneConnect
OneConnect
Financial Technology Co., Ltd. is a technology-as-a-service provider for financial services industry. The Company integrates extensive
financial services industry expertise with market-leading technology to provide technology applications and technology-enabled business
services to financial institutions. The integrated solutions and platform the Company provides include digital banking solution, digital
insurance solution and Gamma Platform, which is a technology infrastructural platform for financial institutions. The Company’s
solutions enable its customers’ digital transformations, which help them improve efficiency, enhance service quality, and reduce
costs and risks.
The
Company has established long-term cooperation relationships with financial institutions to address their needs of digital transformation.
The Company has also expanded its services to other participants in the value chain to support the digital transformation of financial
services eco- system. In addition, the Company has successfully exported its technology solutions to overseas financial institutions.
For
more information, please visit ir.ocft.com.
Safe
Harbor Statement
This
press release contains forward-looking statements. These statements constitute “forward- looking” statements within the meaning
of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act
of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,”
“future,” “intends,” “plans,” “believes,” “estimates,” “confident”
and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions
and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and
many of which are beyond the Company’s control. Forward-looking statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited
to the following: the Company’s limited operating history in the technology-as-a-service for financial institutions industry; its
ability to achieve or sustain profitability; the tightening of laws, regulations or standards in the financial services industry; the
Company’s ability to comply with the evolving regulatory requirements in the PRC and other jurisdictions where it operates; its
ability to comply with existing or future laws and regulations related to data protection or data security; its ability to maintain and
enlarge the customer base or strengthen customer engagement; its ability to maintain its relationship and engagement with Ping An Group
and its related parties, which are its strategic partner, most important customer and largest supplier; its ability to compete effectively
to serve China’s financial institutions; the effectiveness of its technologies, its ability to maintain and improve technology
infrastructure and security measures; its ability to protect its intellectual property and proprietary rights; its ability to maintain
or expand relationship with its business partners and the failure of its partners to perform in accordance with expectations; its ability
to protect or promote its brand and reputation; its ability to timely implement and deploy its solutions; its ability to obtain additional
capital when desired; litigation and negative publicity surrounding China-based companies listed in the U.S.; disruptions in the financial
markets and business and economic conditions; the Company’s ability to pursue and achieve optimal results from acquisition or expansion
opportunities; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is
included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release
and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking
statement, except as required under applicable law.
Use
of Unaudited Non-IFRS Financial Measures
The
unaudited consolidated financial information is prepared in accordance with IFRS Accounting Standards (“IFRS”) issued by
the International Accounting Standards Board (“IASB”). Non-IFRS measures are used in gross profit and gross margin,
adjusted to exclude non-cash items, which consist of amortization of intangible assets recognized in cost of revenue, depreciation
of property and equipment recognized in cost of revenue, and share-based compensation expenses recognized in cost of revenue.
OneConnect’s management regularly review non-IFRS gross profit and non- IFRS gross margin to assess the performance of our
business. By excluding non-cash items, these financial metrics allow OneConnect’s management to evaluate the cash conversion
of one dollar revenue on gross profit. OneConnect uses these non-IFRS financial measures to evaluate its ongoing operations and for
internal planning and forecasting purposes. OneConnect believes that non-IFRS financial information, when taken collectively, is
helpful to investors because it provides consistency and comparability with past financial performance, facilitates period-to-
period comparisons of results of operations, and assists in comparisons with other companies, many of which use similar financial
information. OneConnect also believes that presentation of the non-IFRS financial measures provides useful information to its
investors regarding its results of operations because it allows investors greater transparency to the information used by
OneConnect’s management in its financial and operational decision making so that investors can see through the eyes of the
OneConnect’s management regarding important financial metrics that the management uses to run the business as well as allowing
investors to better understand OneConnect’s performance. However, non-IFRS financial information is presented for supplemental
informational purposes only, and should not be considered a substitute for financial information presented in accordance with IFRS,
and may be different from similarly-titled non- IFRS measures used by other companies. In light of the foregoing limitations, you
should not consider non-IFRS financial measure in isolation from or as an alternative to the financial measure prepared in
accordance with IFRS. Whenever OneConnect uses a non-IFRS financial measure, a reconciliation is provided to the most closely
applicable financial measure stated in accordance with IFRS. You are encouraged to review the related IFRS financial measures and
the reconciliation of these non-IFRS financial measures to their most directly comparable IFRS financial measures. For more
information on non-IFRS financial measures, please see the table captioned “Reconciliation of IFRS and non-IFRS results for
continuing operations (Unaudited)” set forth at the end of this press release.
Contacts
Investor
Relations:
OCFT
IR Team
OCFT_IR@ocft.com
Media
Relations:
OCFT
PR Team
pub_jryztppxcb@pingan.com.cn
ONECONNECT
CONDENSED
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Unaudited)
| | |
Three Months
Ended
March 31 | |
| | |
2024 | | |
2023 | |
| | |
| RMB’000 | | |
| RMB’000 | |
| Revenue | |
| 723,270 | | |
| 893,826 | |
| Cost of revenue | |
| (450,867 | ) | |
| (559,169 | ) |
| Gross profit | |
| 272,403 | | |
| 334,657 | |
| | |
| | | |
| | |
| Research and development expenses | |
| (213,183 | ) | |
| (276,146 | ) |
| Selling and marketing expenses | |
| (48,500 | ) | |
| (59,202 | ) |
| General and administrative expenses | |
| (80,520 | ) | |
| (80,213 | ) |
| Net impairment losses on financial and contract assets | |
| (13,690 | ) | |
| (24,065 | ) |
| Other income, gains or loss-net | |
| 17,142 | | |
| 26,827 | |
| Operating loss | |
| (66,348 | ) | |
| (78,142 | ) |
| | |
| | | |
| | |
| Finance income | |
| 10,340 | | |
| 5,790 | |
| Finance costs | |
| (4,278 | ) | |
| (6,141 | ) |
| Finance costs – net | |
| 6,062 | | |
| (351 | ) |
| Share of gain of associate and joint venture – net | |
| – | | |
| 7,157 | |
| Impairment charges on associate | |
| – | | |
| (7,157 | ) |
| Loss before income tax | |
| (60,286 | ) | |
| (78,493 | ) |
| | |
| | | |
| | |
| Income tax (expense)/benefit | |
| (89 | ) | |
| 1,872 | |
| | |
| | | |
| | |
| Loss from continuing operations | |
| (60,375 | ) | |
| (76,621 | ) |
| | |
| | | |
| | |
| Loss from discontinued operations (attributable to equity
holders of the company) | |
| (50,638 | ) | |
| (36,394 | ) |
| Loss for the period | |
| (111,013 | ) | |
| (113,015 | ) |
| | |
| | | |
| | |
| Loss attributable to: | |
| | | |
| | |
| – Owners of the Company | |
| (104,334 | ) | |
| (108,873 | ) |
| – Non-controlling interests | |
| (6,679 | ) | |
| (4,142 | ) |
| | |
| (111,013 | ) | |
| (113,015 | ) |
| | |
Three Months
Ended
March 31 | |
| | |
2024 | | |
2023 | |
| | |
RMB’000 | | |
RMB’000 | |
| Other comprehensive income/(loss), net of tax: | |
| | |
| |
| Items that may be subsequently reclassified to profit or loss | |
| | | |
| | |
| – Foreign currency translation differences | |
| 1,334 | | |
| (3,203 | ) |
| – Exchange differences on translation of discontinued
operations | |
| 177 | | |
| (11,651 | ) |
| – Changes
in the fair value of debt instruments measured at fair value through other comprehensive income of discontinued operations | |
| 6,056 | | |
| (3,724 | ) |
| Item that will not be reclassified subsequently to
profit or loss | |
| | | |
| | |
| –
Foreign currency translation differences | |
| 1,942 | | |
| (30,655 | ) |
| – Changes
in the fair value of equity instruments measured at fair value through other comprehensive income | |
| – | | |
| – | |
| Total comprehensive loss for the period | |
| (101,504 | ) | |
| (162,248 | ) |
| | |
| | | |
| | |
| Total comprehensive loss attributable to: | |
| | | |
| | |
| – Owners of the Company | |
| (94,825 | ) | |
| (158,106 | ) |
| – Non-controlling interests | |
| (6,679 | ) | |
| (4,142 | ) |
| | |
| (101,504 | ) | |
| (162,248 | ) |
| | |
| | | |
| | |
| Total comprehensive loss attributable to owners of the Company arises
from: | |
| | | |
| | |
| – Continuing operations | |
| (50,420 | ) | |
| (106,337 | ) |
| – Discontinued operations | |
| (44,405 | ) | |
| (51,769 | ) |
| | |
| (94,825 | ) | |
| (158,106 | ) |
| | |
| | | |
| | |
| Loss per
share for loss from continuing operations attributable to the owners of the Company (expressed in RMB per share) | |
| | | |
| | |
| – Basic and diluted | |
| (0.05 | ) | |
| (0.07 | ) |
| | |
| | | |
| | |
| Loss per
ADS for loss from continuing operations attributable to the owners of the Company (expressed in RMB per share) | |
| | | |
| | |
| – Basic and diluted | |
| (1.48 | ) | |
| (2.00 | ) |
| | |
| | | |
| | |
| Loss per share for loss attributable to the owners of the Company
(expressed in RMB per share) | |
| | | |
| | |
| – Basic and diluted | |
| (0.10 | ) | |
| (0.10 | ) |
| | |
| | | |
| | |
| Loss per ADS for loss attributable to the owners of the Company
(expressed in RMB per share) | |
| | | |
| | |
| – Basic and diluted | |
| (2.87 | ) | |
| (3.00 | ) |
ONECONNECT
CONDENSED
CONSOLIDATED BALANCE SHEETS
(Unaudited)
| | |
Three Months Ended
March 31 | |
| | |
2024 | | |
2023 | |
| | |
RMB’000 | | |
RMB’000 | |
| ASSETS | |
| | |
| |
| Non-current assets | |
| | | |
| | |
| Property and equipment | |
| 91,815 | | |
| 85,076 | |
| Intangible assets | |
| 344,356 | | |
| 471,371 | |
| Deferred tax assets | |
| 768,582 | | |
| 768,276 | |
| Financial assets measured at fair value through other comprehensive
income | |
| 3,204 | | |
| 1,372,685 | |
| Restricted cash | |
| 5,319 | | |
| 5,319 | |
| Prepayments and other receivables | |
| 6,961 | | |
| 6,663 | |
| Total non-current assets | |
| 1,220,237 | | |
| 2,709,390 | |
| | |
| | | |
| | |
| Current assets | |
| | | |
| | |
| Trade receivables | |
| 899,489 | | |
| 710,669 | |
| Contract assets | |
| 105,393 | | |
| 95,825 | |
| Prepayments and other receivables | |
| 908,338 | | |
| 905,691 | |
| Financial assets measured at amortized cost from virtual bank | |
| – | | |
| 3,081 | |
| Financial assets measured at fair value through other comprehensive
income | |
| – | | |
| 853,453 | |
| Financial assets measured at fair value through profit or
loss | |
| 629,173 | | |
| 925,204 | |
| Derivative financial assets | |
| 47,778 | | |
| 38,008 | |
| Restricted cash and time deposits with an initial term over
three months | |
| 36,827 | | |
| 447,564 | |
| Cash and cash equivalents | |
| 1,252,102 | | |
| 1,379,473 | |
| | |
| 3,879,100 | | |
| 5,358,968 | |
| Assets classified as held for sale | |
| 3,042,329 | | |
| – | |
| Total current assets | |
| 6,921,429 | | |
| 5,358,968 | |
| Total assets | |
| 8,141,666 | | |
| 8,068,358 | |
| | |
| | | |
| | |
| EQUITY AND LIABILITIES | |
| | | |
| | |
| Equity | |
| | | |
| | |
| Share capital | |
| 78 | | |
| 78 | |
| Shares held for share option scheme | |
| (149,544 | ) | |
| (149,544 | ) |
| Other reserves | |
| 11,000,514 | | |
| 10,989,851 | |
| Accumulated losses | |
| (7,977,948 | ) | |
| (7,873,614 | ) |
| Equity attributable to equity owners of the Company | |
| 2,873,100 | | |
| 2,966,771 | |
| | |
| | | |
| | |
| Non-controlling interests | |
| (25,658 | ) | |
| (18,979 | ) |
| | |
| | | |
| | |
| Total equity | |
| 2,847,442 | | |
| 2,947,792 | |
| | |
Three Months
Ended
March 31 | |
| | |
2024 | | |
2023 | |
| | |
RMB’000 | | |
RMB’000 | |
| Trade and other payables | |
| 39,242 | | |
| 28,283 | |
| Contract liabilities | |
| 16,131 | | |
| 17,126 | |
| Deferred tax liabilities | |
| 1,299 | | |
| 2,079 | |
| Total non-current liabilities | |
| 56,672 | | |
| 47,488 | |
| | |
| | | |
| | |
| Trade and other payables | |
| 2,175,142 | | |
| 1,981,288 | |
| Payroll and welfare payables | |
| 284,602 | | |
| 385,908 | |
| Contract liabilities | |
| 156,674 | | |
| 138,563 | |
| Short-term borrowings | |
| 162,068 | | |
| 251,732 | |
| Customer deposits | |
| – | | |
| 2,261,214 | |
| Other financial liabilities from virtual bank | |
| – | | |
| 54,373 | |
| | |
| 2,778,486 | | |
| 5,073,078 | |
| Liabilities directly associated with assets classified as
held for sale | |
| 2,459,066 | | |
| – | |
| Total current liabilities | |
| 5,237,552 | | |
| 5,073,078 | |
| Total liabilities | |
| 5,294,224 | | |
| 5,120,566 | |
| | |
| | | |
| | |
| Total equity and liabilities | |
| 8,141,666 | | |
| 8,068,358 | |
ONECONNECT
CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
| | |
Three Months
Ended
March 31 | |
| | |
2024 | | |
2023 | |
| | |
RMB’000 | | |
RMB’000 | |
| Net cash used in operating activities | |
| (115,236 | ) | |
| (613,264 | ) |
| Net cash generated from investing activities | |
| 255,848 | | |
| 407,066 | |
| Net cash used in financing activities | |
| (100,971 | ) | |
| (44,421 | ) |
| Net increase/(decrease) in cash and cash equivalents | |
| 39,641 | | |
| (250,619 | ) |
| Cash and cash equivalents at the beginning of the period | |
| 1,379,473 | | |
| 1,907,776 | |
| Effects of exchange rate changes on cash and cash equivalents | |
| 1,777 | | |
| (10,726 | ) |
| Cash and cash equivalents at the end of period | |
| 1,420,891 | | |
| 1,646,431 | |
ONECONNECT
RECONCILIATION
OF IFRS AND NON-IFRS RESULTS FOR CONTINUING OPERATIONS
(Unaudited)
| | |
Three Months
Ended March 31 | |
| | |
2024 | | |
2023 | |
| | |
RMB’000 | | |
RMB’000 | |
| Gross profit from continuing operations | |
| 272,403 | | |
| 334,657 | |
| Gross margin of continuing operations | |
| 37.7 | % | |
| 37.4 | % |
| Non-IFRS adjustment | |
| | | |
| | |
| Amortization of intangible assets recognized in cost of revenue | |
| 15,542 | | |
| 22,209 | |
| Depreciation of property and equipment recognized in cost of
revenue | |
| 1,152 | | |
| 1,354 | |
| Share-based compensation expenses recognized in cost of revenue | |
| 228 | | |
| 436 | |
| Non-IFRS gross profit from continuing operations | |
| 289,325 | | |
| 358,656 | |
| Non-IFRS gross margin of continuing operations | |
| 40.0 | % | |
| 40.1 | % |
Source:
OneConnect Financial Technology Co., Ltd.
OneConnect Financial Tec... (NYSE:OCFT)
過去 株価チャート
から 11 2024 まで 12 2024
OneConnect Financial Tec... (NYSE:OCFT)
過去 株価チャート
から 12 2023 まで 12 2024
