OneConnect Interim Results Announcement: Completed the sale of virtual banking business, will focus on core businesses such as digital infrastructure
Hong Kong-listed OneConnect Financial Technology Limited has announced its interim results for the six months ended June 30, 2024:
Revenue from continuing operations for the six months ended June 30, 2024 decreased by 22.8% to RMB1,415.8 million from RMB1,833.0 million for the same period in 2023.
The net profit attributable to the owners of the Company from continuing operations and discontinued operations for the six months ended 30 June 2024 amounted to RMB139.0 million, compared to a net loss of RMB190.5 million for the same period in 2023, mainly due to the proceeds from the sale of the virtual banking business.
3. Completed the sale of the virtual banking business to Lufax Holdings Limited for HK $933 million in cash. As a result of the sale, the past financial results of the virtual banking business segment have been reflected as discontinued operations in the Company's condensed consolidated interim financial information to better focus on its core business of providing technology solutions and digital infrastructure to Financial Institution Groups and enterprises.