OneConnect Financial Technology (OCFT) has released an update.
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OneConnect Financial Technology Co., Ltd. reported a decrease in revenue for Q1 2024 but saw improvements in gross margin and a reduction in net loss. The company’s focus on optimizing product and customer structures and overseas expansion contributed to a narrowed operating loss and net loss from continuing operations. Despite challenges from a key customer’s decision to cease using OneConnect’s cloud services, the company is committed to cost control and improved operational efficiency moving forward.
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