OneConnect Financial Technology reports H1 2025 revenue of RMB801 mln, down 43.3% YoY.

• OneConnect reports H1 2025 revenue of RMB801m, down from RMB1,416m in the same period last year. • Gross margin of 26.1%, down from 37.1% in the same period last year. • Loss from continuing operations attributable to shareholders of RMB78m, up from RMB70m in the same period last year. • Net margin of -9.8%, up from -5.0% in the same period last year. • Loss per basic and diluted ADS of RMB-2.16, up from RMB-1.94 in the same period last year.

Shenzhen, China — OneConnect Financial Technology Co., Ltd. (NYSE: OCFT and HKEX: 6638), a leading technology-as-a-service provider for the financial services industry in China, announced its unaudited financial results for the six months ended June 30, 2025. The company reported revenue of RMB801 million, down from RMB1,416 million during the same period last year. This represents a decrease of 43.4% [1].

The company's gross margin of continuing operations was 26.1%, down from 37.1% during the same period last year. The decrease in gross margin was primarily attributed to a reduction in economies of scale caused by the decrease in revenue [1].

OneConnect reported a loss from continuing operations attributable to shareholders of RMB78 million, up from RMB70 million during the same period last year. This loss per basic and diluted ADS was RMB-2.16, up from RMB-1.94 during the same period last year [1].

The company's net margin of continuing operations to shareholders was -9.8%, up from -5.0% during the same period last year. This indicates an improvement in the company's overall profitability despite the decrease in revenue [1].

OneConnect's revenue from continuing operations was driven by a significant decrease in revenue from cloud services platform, which was RMB2 million in the first half of 2025, down from RMB607 million during the same period last year. The company attributed this decrease to the strategic phasing out of cloud services since July 2024 [1].

On the other hand, revenue from the Digital Insurance segment increased by 11.2% to RMB288 million, primarily due to an increased demand for digital property and casualty insurance solutions [1].

The company's total operating expenses from continuing operations were RMB316 million, a decrease of 33.5% from RMB890 million during the same period last year. This decrease was mainly due to a reduction in revenue [1].

OneConnect's research and development expenses from continuing operations were RMB117 million, down from RMB400 million during the same period last year. The decline was attributed to the company's proactive adjustment of its business structure and its return on investment-driven approach to managing research and development projects [1].

The company's cash flow for the first half of 2025 showed a net cash used in operating activities of RMB210 million, a net cash used in investing activities of RMB1,333 million, and a net cash used in financing activities of RMB-1,177 million [1].

References:
[1] https://www.morningstar.com/news/pr-newswire/20250821cn56262/oneconnect-announces-first-half-2025-unaudited-financial-results