OneConnect Financial Technology Co., Ltd.
NYSE•OCFT
CEO: Mr. Chong Feng Shen
Sector: Technology
Industry: Software - Application
Listing Date: 2019-12-13
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 operates in Technology Solutions and Virtual Bank Business segments. The company offers Gamma Platform, which offers a toolbox of separate solution modules that provide technology infrastructure and underlying technologies; marketing management platform, developed from AI Banker App, provides banks relationship managers with technology that supports in managing their acquisition and relationships with retail customers; and wealth management platform that provides banks with tools to enhance the efficiency of their wealth management business. It also provides intelligent product development platform for banks, which allows to shorten product development cycle, enhance speed to market, and facilitate product portfolio management; Regtech, an end-to-end regulatory solution for financial regulatory authorities; asset-liability management solution provides analytics to enhance financial institutions asset liquidity performance; and digital insurance solutions for digitalizing the insurance process, marketing, customer management, and claim processing under intelligent property and casualty insurance and life insurance solution. In addition, the company provides Gamma Voice Solution, an AI customer service for support customer service functions; and Gamma FinCloud, which allows entities with expensive-to-replace legacy systems to directly migrate to the cloud to securely maintain their data. Further, it offers information transmission, information technology advisory, E-commerce security certificate administration, technology promotion and computer application, software and technology, insurance survey and loss adjustment, and asset management and consulting services. The company was founded in 2015 and is headquartered in Shenzhen, the People's Republic of China.
Contact Information
No. 5033 Yitian Road, 21/24F, Ping An Finance Center Futian District, Shenzhen, 518000, China
86-21-2066-0625
Market Cap
$8.60B
P/E (TTM)
-2.9
39.6
Dividend Yield
--
52W High
$7.92
52W Low
$2.08
52W Range
Rank67Top 97.6%
1.4
F-Score
Modified Piotroski Analysis
Based on 8-year fundamentals
Weak • 1.4 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2018-2025
Financial Dashboard
Q2 2025 Data
Revenue
$59.94M-37.42%
4-Quarter Trend
EPS
-$0.15+139.13%
4-Quarter Trend
FCF
-$3.26M-87.38%
4-Quarter Trend
2024 Annual Earnings Highlights
Key Highlights
Continuing Revenue Drops 36.2% Continuing operations revenue fell 36.2% to RMB 2.25B in 2024, driven by phasing out low-value cloud services.
Virtual Bank Disposal Realized Completed virtual bank sale in April 2024, resulting in a RMB 260.1M after-tax gain from discontinued operations.
Premium Customer Base Optimized Premium-plus customer count decreased to 173 in 2024 as low-value business was proactively reduced.
Risk Factors
Continuing Operations Loss Widens Loss from continuing operations increased to RMB 704.7M in 2024, significantly widening from RMB 220.1M in 2023.
Significant Goodwill Impairment Charge Recorded RMB 131.9M goodwill impairment in 2024 due to cloud services discontinuation impact assessment.
PRC Regulatory Structure Uncertainty Uncertainty remains regarding VIE structure enforceability and evolving PRC laws impacting foreign investment access.
Outlook
Focus on High-Value Solutions Strategy centers on deepening engagement with premium customers and expanding integrated, high-quality solutions portfolio.
Continued Technology Innovation Investment Significant resources invested in R&D to maintain technology leadership across AI, cloud, and security infrastructure capabilities.
Cloud Services Operation Discontinued Gradually discontinuing cloud services operation from July 2024 onwards following customer strategy adjustments.
Peer Comparison
Revenue (TTM)
UIS$1.92B
EGHT$718.65M
$226.39M
Gross Margin (Latest Quarter)
85.7%
74.7%
EGHT66.4%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| OCFT | $8.60B | -2.9 | -25.5% | 0.6% |
| FRGE | $617.05M | -9.5 | -29.8% | 1.8% |
| SMRT | $348.13M | -5.0 | -27.1% | 1.8% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
1.0%
Moderate Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
25%
Cash Flow Needs Attention
Research & Insights
Reports
All Years
Form 20-F - FY 2024
Period End: Dec 31, 2024|Filed: Apr 24, 2025|Revenue: $312.44M-38.7%|EPS: $-1.75-27.3%N/AForm 20-F/A - FY 2023
Period End: Dec 31, 2023|Filed: Jul 18, 2024|Revenue: $514.31M-17.8%|EPS: $-1.39+58.8%BeatForm 20-F/A - FY 2023
Period End: Dec 31, 2023|Filed: Jul 5, 2024|Refer to amended dataForm 20-F - FY 2023
Period End: Dec 31, 2023|Filed: Apr 23, 2024|Refer to amended dataForm 20-F - FY 2022
Period End: Dec 31, 2022|Filed: Apr 24, 2023|Revenue: $663.14M+8.0%|EPS: $-3.57+31.0%MissForm 20-F - FY 2021
Period End: Dec 31, 2021|Filed: Mar 31, 2022|Revenue: $640.67M+24.8%|EPS: $-5.40+8.7%MissForm 20-F - FY 2020
Period End: Dec 31, 2020|Filed: Mar 26, 2021|Revenue: $480.10M+42.3%|EPS: $-5.52+28.2%Miss