Judy Zhang

Zhiyi Li

Alan Chen

Alan Kuang

Chenyueya Lin

ONECONNECT FINANCIAL TECHNOLOGY CO., LTD. reported a significant decline in financial performance for the six months ended June 30, 2025, with **revenue from continuing operations decreasing by 43.4%** and **gross margin falling to 26.1%**.  **[1780531_0001104659-25-083309_tm2524458d1_ex99-1.htm:2]**  The **loss from continuing operations attributable to shareholders increased** to RMB78.5 million.  **[1780531_0001104659-25-083309_tm2524458d1_ex99-1.htm:2]** 

The substantial decrease in revenue was primarily due to a **99.6% decline** in revenue from the cloud services platform, which the company decided to gradually discontinue from **July 2024** onwards after certain Ping An Group subsidiaries ceased utilizing these services.  **[1780531_0001104659-25-083309_tm2524458d1_ex99-1.htm:10]** **[1780531_0001104659-25-083309_tm2524458d1_ex99-1.htm:7]** 

The company is currently undergoing a **privatization process**, with a proposal announced on **May 15, 2025**. Regulatory approval was obtained on **July 9, 2025**, and a Transaction Statement on Schedule 13E-3 was filed with the SEC on **July 18, 2025**, with an amendment filed on **August 15, 2025**.  **[1780531_0001104659-25-083309_tm2524458d1_ex99-1.htm:9]** 

The financial performance highlights for the six months ended June 30, 2025 and 2024 are as follows:

| Metric | H1 2025 | H1 2024 |
|:---|:---|:---|
| Revenue from continuing operations (RMB Thousands) | **801,157**  **[1780531_0001104659-25-083309_tm2524458d1_ex99-1.htm:2]** **[1780531_0001104659-25-083309_tm2524458d1_ex99-1.htm:27]**  | **1,415,769**  **[1780531_0001104659-25-083309_tm2524458d1_ex99-1.htm:2]** **[1780531_0001104659-25-083309_tm2524458d1_ex99-1.htm:27]**  |
| Gross margin of continuing operations (%) | **26.1**  **[1780531_0001104659-25-083309_tm2524458d1_ex99-1.htm:2]**  | **37.1**  **[1780531_0001104659-25-083309_tm2524458d1_ex99-1.htm:2]**  |
| Loss from continuing operations attributable to shareholders (RMB Thousands) | **(78,495)**  **[1780531_0001104659-25-083309_tm2524458d1_ex99-1.htm:2]** **[1780531_0001104659-25-083309_tm2524458d1_ex99-1.htm:27]**  | **(70,485)**  **[1780531_0001104659-25-083309_tm2524458d1_ex99-1.htm:2]** **[1780531_0001104659-25-083309_tm2524458d1_ex99-1.htm:27]**  |
| Loss from continuing operations per ADS (RMB) | **(2.16)**  **[1780531_0001104659-25-083309_tm2524458d1_ex99-1.htm:2]** **[1780531_0001104659-25-083309_tm2524458d1_ex99-1.htm:27]** **[1780531_0001104659-25-083309_tm2524458d1_ex99-1.htm:39]**  | **(1.94)**  **[1780531_0001104659-25-083309_tm2524458d1_ex99-1.htm:2]** **[1780531_0001104659-25-083309_tm2524458d1_ex99-1.htm:27]** **[1780531_0001104659-25-083309_tm2524458d1_ex99-1.htm:39]**

ONECONNECT FINANCIAL TECHNOLOGY (OCFT)