OneConnect Financial Technology (OCFT) Q4 2022 Earnings Call Transcript

For the period ending December 31, 2022

March 13, 2023 8:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Hello, everyone, and welcome to the OneConnect Financial Technology Fourth Quarter and Full Year 2022 Earnings Release Call. My name is Bruno, and I will be operating your call today. [Operator Instructions]

I will now hand over to your host, Danielle Gao, Head of Investor Relations. Please go ahead.

Danielle Gao

Thank you, operator. Hello everyone, and welcome to our 2022 first quarter and full year earnings conference call. Our financial and operating results were released earlier today and are 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 the business highlights. Afterwards, our CFO, Mr. Luo Yongtao, will offer a closer look into our financials. And then, in question-and-answer session, our management team will be available, too. We have our CTO, Mr. Li Jie; Head of Digital Banking, Ms. [Ellen Jia] (ph); and the Chief Executive of Ping An OneConnect Bank, Mr. Michael Fei.

In today's conference, our management team will make statements in Mandarin or in English. For those in Mandarin, a consecutive translation will be provided. If any discrepancy, our statement in the original language will prevail.

Let me quickly cover the Safe Harbor statement before we start, as we will be making forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially. Please note that we may present both IFRS and non-IFRS financial measures.

So, with that, I'll now pleased to turn the call to our Chairman and CEO, Mr. Shen Chong Feng. Shen Chong, please.

Shen Chong Feng

[Foreign Language]

[Interpreted] Hello, everyone. Thank you. I'm Shen Chong Feng. Thank you for taking the time to join OneConnect 2024 -- 2022 Q4 and full year earnings release.

Economic headwinds in 2022 have been a challenge to all technology companies. Despite impact on parts of our businesses, we still achieved solid growth in our results. Revenue from third-party customers reached [RMB148 million] (ph) full year, representing a year-over-year growth of 6.5%. Premium Plus customers increased by nine year-over-year to 221. Significant improvement in operational efficiency also narrowed our losses by a big margin.

Next, I will share with you OneConnect business developments in Q4 and 2022 full year. You can go to Page 3 of our slides. 2022 was a crucial year for broadening customer engagement in our Stage II strategy.