|Over a week ago|
OneConnect falls -15.8% » 12:0005/2705/27/21
OneConnect is down…
OneConnect is down -15.8%, or -$2.95 to $15.73.
OneConnect falls -12.2% » 10:0005/2705/27/21
OneConnect is down…
OneConnect is down -12.2%, or -$2.27 to $16.41.
|Over a month ago|
OneConnect, SMU announce findings from quantum computing for blockchain study » 05:1304/0704/07/21
OneConnect and Singapore…
OneConnect and Singapore Management University, or SMU, announced the findings from a jointly conducted research on the potential of quantum computing to augment blockchain technology for businesses. The research report has been vetted by the Blockchain Association Singapore, or BAS, and the findings were shared at the BAS webinar titled "Enterprise Blockchain in the New Decade" earlier. The findings from this research follow an earlier memorandum of understanding, or MOU, between OneConnect and SMU in 2019 to develop a proof of concept, or POC, to investigate the characteristics of quantum computing for distributed ledger technologies, or DLTs. The result findings from the research project include: Quantum and classical consensus take a similar number of rounds to agree on the same value, meaning that with a quantum internet, big data such as social media and IoT information could be used for consensus and not be limited to the few hundreds of financial transactions of current blockchains. The company said this would likely benefit many areas of financing including trade finance and the under-banked. Quantum consensus has more variation than classical and can take longer or shorter times to achieve consensus, potentially speeding up consensus if the shorter times are engineered to be selected. Real quantum computers need careful configuration and noise mitigation, and this will take time to become commercially useful. The company said there is much more work needed to connect quantum computers to quantum networks.
|Over a quarter ago|
FactSet, Ping An partner to offer investors ESG content, analytics » 08:2603/0403/04/21
FactSet (FDS) and Ping An…
FactSet (FDS) and Ping An Insurance announced a joint offering for investors considering environmental, social and corporate governance metrics for companies incorporated in China. The offering will be launched by FactSet and Ping An's associate company OneConnect Financial Technology (OCFT), a leading technology-as-a-service platform for financial institutions in China. FactSet will integrate OneConnect's artificial intelligence-driven ESG content sets into its workstations, standard data feed, and application programming interfaces to accelerate the availability of ESG metrics for over 3,500 Chinese class A-share companies. OneConnect offers comprehensive coverage of ESG factors and assessments for companies listed on the Shanghai and Shenzhen Stock Exchanges. These factors are derived from a combination of different sources of information obtained by AI technologies, such as natural language processing. OneConnect also provides a range of analytics tools in addition to the content that will be integrated into FactSet, such as NLP-driven disclosure transparency assessments, portfolio sustainability performance evaluation and adjustment, and a climate risk evaluation tool to help investors better integrate ESG measurements into their investment processes.
OneConnect price target lowered to $26 from $27 at HSBC » 05:3502/0402/04/21
HSBC analyst Carson Lo…
HSBC analyst Carson Lo lowered the firm's price target on OneConnect to $26 from $27 and keeps a Buy rating on the shares following the company's Q4 results. Revenue from third-party customers is set to reaccelerate, Lo tells investors in a research note. Retail loans processed remained soft at down 34% year-over-year, but an inflection point is close as third-party revenue growth reaccelerates, says the analyst.
OneConnect sees FY21 revenue growth 'no less' than past year » 14:2002/0302/03/21
Sees improvement in net…
Sees improvement in net loss ratio in FY21 to be in double-digit percentage. Guidance taken from Q4 earnings conference call.
OneConnect reports Q4 EPS (RMB0.99) vs. (RMB1.95) last year » 14:1302/0302/03/21
Earlier, OneConnect Financial Technology reported Q4 revenue increased 39.2% year-over-year to RMB1.076B from RMB773M. Jacky Lo, CFO, commented, "Our product upgrades continued to bear fruit, evidenced by the 4.6ppt expansion in gross margin for the full year. Net loss narrowed to RMB1,354 million from RMB1,661 million. As a percentage of revenue, the improvement was 30.5ppt to 40.9%. Cashflow from operations also significantly improved, with cashburn per month more than halving on average. The results reflect solid revenue performance as well as cost management, marking another milestone in the path to profitability. We are ready to go further this year."
Fly Intel: Top five analyst initiations » 09:5511/0511/05/20
PAVM, OCFT, RLAY, CSWC, ATNM
Catch up on today's…
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. PAVmed (PAVM) initiated with a Buy at Ascendiant. 2. OneConnect (OCFT) initiated with a Buy at Citi. 3. Relay Therapeutics (RLAY) initiated with a Buy at H.C. Wainwright. 4. Capital Southwest (CSWC) resumed with an Outperform at JMP Securities. 5. Actinium Pharmaceuticals (ATNM) initiated with a Buy at Alliance Global Partners. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
OneConnect initiated with a Buy at Citi » 06:0611/0511/05/20
Citi analyst Daphne Poon…
Citi analyst Daphne Poon initiated coverage of OneConnect Financial Technology with a Buy rating and $28 price target. The analyst sees OneConnect a "key proxy to play" on the theme of financial institution digitalization.
OneConnect management to meet virtually with KeyBanc » 04:5511/0511/05/20
Virtual Meeting to be…
Virtual Meeting to be held on November 5 hosted by KeyBanc.