OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) Q4 2023 Earnings Call Transcript
OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) Q4 2023 Earnings Call Transcript March 18, 2024
OneConnect Financial Technology Co., Ltd. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).
Operator: Ladies and gentlemen, thank you for standing by, and welcome to OneConnect's Fourth Quarter and Full Year 2023 Earnings Call. [Operator Instructions]. Please note this event is being recorded. Now I would like to hand the conference over to your speaker host today, Mr. Rick Chan, the company's Head of Investor Relations. Please go ahead, Mr. Chan.
Rick Chan: Thank you, operator. Hello, everyone, and welcome to our 2023 four quarter earnings call. Our financial and operating results are released earlier today and currently available on our IR website. Today, you will hear from our Chairman and CEO, Mr. Shen Chong Feng, who will give opening remarks and business highlights. Afterwards, our CFO, Mr. Luo Yongtao will go over a closer look into our financials. And then in question-and-answer session, our management team will be available to you. We have our CTO, Mr. Li Jie; Head of Digital Banking, Ms. Ellen Jia; and Head of Corporate Planning and Product Management, Ms. Jessie Shen. In today's conference, our management team will make statements in Mandarin or in English.
For those in Mandarin, a contracted translation will be provided. In case of any discrepancy between the Mandarin version and the English version, our statement in the original language should prevail. Let me quickly cover the safe harbor statement before we start. As we are making forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to defer materially. Please note that we may present both IFRS and non-IFRS financial measures. With that, I'm pleased to turn our call to our Chairman and CEO, Mr. Shen Chong Feng. Mr. Shen, please.
Shen Chong Feng: [Foreign Language] Hello, everyone. I'm Shen Chong Feng. Thank you for taking your time to join our 2023 four quarter and annual results earnings call. Firstly, on behalf of OneConnect, I'd like to extend a warm welcome to investors, analysts and friends from media or with us during this call. It's a great pleasure for me to share with you the results we've achieved in the fourth quarter and last year. [Foreign Language] In 2023, the Central Financial Work Conference proposed for the first time to build up China's financial strength, reaffirming the importance of financial sector as the lifeblood of the national economy. The conference pointed out that technology capacity in many small- and medium-sized banks remains to be improved, and the high-quality development of these institutions is imperative.
At the same time, vigorously developing technology, innovation in finance, green finance, financial inclusion, pension finance and digital brands finance, which are known as the five major articles unveiled at the Central Financial Work Conference are also included in the government work report for the first time. With cutting-edge technologies such as artificial intelligence and big data and the unique advantages of technology plus business, OneConnect continues to improve its product capabilities in our three major business segments, namely digital banking, digital insurance and gamma platform for us to encourage the development of new quality productive forces in the financial industry. [Foreign Language] In 2023, we achieved significant milestones in loss reduction with net loss attributable to shareholders improving to CNY363 million from CNY872 million in the previous year.
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