On the evening of March 18th, OneConnect Financial Technology Co., Ltd. (hereinafter referred to as "Financial OneConnect", stock code: New York Stock Exchange OCFT, Hong Kong Stock Exchange 06638) released its unaudited performance report for the year ended December 31, 2023.
The report shows that in 2023, Financial One Account achieved a total operating revenue of 3.67 billion yuan, a year-on-year decrease of 17.8%. The proportion of third-party customer revenue increased from 33.1% at the end of 2022 to 35.6% at the end of 2023; The net loss attributable to the parent company narrowed by 58.4% to 360 million yuan, and the net profit margin attributable to the parent company increased from -19.5% to -9.9%, a significant increase of 9.6 percentage points year-on-year; The gross profit margin increased by 0.2 percentage points year-on-year to 36.8%.
Shen Chongfeng, Chairman and CEO of Financial One Account, stated that the company has achieved remarkable results in reducing losses in 2023 due to the ideal progress made in products, customers, and cost control. Looking ahead to 2024, Financial One Account will continue to deepen the implementation of the second phase strategy, taking big steps towards the goal of mid-term profitability, and solidly deepening various business growth points.
It is reported that the business of Financial One Account includes digital banking, digital insurance, and Gama platform. In the digital banking sector, the company launched new project collaborations with 16 policy banks, state-owned banks, and joint-stock banks last year; In the digital insurance sector, the upgrade of the claims core system launched by the company in the property insurance sector has accelerated the digital and online transformation process of traditional insurance companies. In the life insurance sector, the first digital life insurance product targeting the global life insurance agent market - the "all-around agent" has been pushed overseas. In the Gama platform sector, Financial One Account has fully applied AI capabilities in various business processes, further improving risk control and sales conversion efficiency.
It is worth noting that in recent years, the overseas business of Financial One Account has achieved rapid growth. According to data, excluding the revenue contribution of Ping An One Account Bank, the company's overseas customer revenue contribution increased by more than 30% year-on-year in 2023, gradually becoming a new business growth point. As of the end of 2023, the Financial One Account business has extensively covered 20 countries and regions including South Africa, Singapore, Thailand, Malaysia, Indonesia, the United Arab Emirates, the Philippines, Vietnam, as well as 185 overseas financial institutions. Customers include the top three regional banks in Southeast Asia and two of the top ten insurance companies globally. "In the future, we will continue to look globally, actively explore overseas markets, continuously expand our sales network, and serve more overseas institutions with digital power," Shen Chongfeng further said.