OneConnect Financial Technology Co Ltd ( (HK:6638) ) has shared an announcement.
OneConnect Financial Technology Co., Ltd. has issued a profit warning following its decision to discontinue its cloud services, leading to a decline in revenue and an expected increase in net loss for FY2024. The company anticipates a significant rise in impairment losses and a reversal of deferred income tax assets, partially offset by a gain from the disposal of its virtual banking business. Additionally, the company has received a preliminary proposal for privatization, which could result in its delisting from stock exchanges.
More about OneConnect Financial Technology Co Ltd
OneConnect Financial Technology Co., Ltd. operates in the financial technology industry, providing technology solutions to financial institutions. The company focuses on offering cloud services, artificial intelligence, and blockchain technology to enhance the digital transformation of banks and insurance companies.
YTD Price Performance: 137.50%
Average Trading Volume: 1,365,621
Technical Sentiment Consensus Rating: Sell
Current Market Cap: HK$2.04B
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