SHENZHEN, China, August 12, 2021– (COMMERCIAL THREAD) – OneConnect Financial Technology Co., Ltd. (“OneConnect” or the “Company”) (NYSE: OCFT), a leading technology-as-a-service platform for financial institutions in China, today announced that it has been briefed by its President and CEO and certain other members of its management team of their intention to use their personal funds to purchase up to US $ 10 million of Company ADS during a three month period from today, in accordance with and subject to applicable laws and the Company’s securities trading policy. Offered Management Share purchases may be made from time to time in the open market at prevailing market prices, in privately traded transactions, in block trades and / or by other legally permitted means, including depending on market conditions and in accordance with applicable rules and regulations. . The management team has agreed to be subject to lock-in restrictions for a period of at least six months with respect to the proposed purchased shares. The proposed share purchase demonstrates management’s confidence in the fundamental and long-term growth of the Company. After the purchase, the interests of management will be even more closely aligned with those of the shareholders of the Company.
OneConnect is a leading technology as a service platform for financial institutions in China. The company’s platform provides cloud-native technology solutions that integrate broad expertise from the financial services industry with cutting-edge technology. The Company’s solutions provide technology applications and technology-based business services to financial institutions. Together, they enable digital transformations for business customers, which help them increase revenue, manage risk, improve efficiency, improve service quality and reduce costs.
The Company’s technology-as-a-service platform strategically covers several verticals of the financial services industry, including banking, insurance and asset management, across their businesses – sales and from marketing and risk management to customer services, as well as technology infrastructure such as data management, program development and cloud services.
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Safe Harbor Declaration
This announcement contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terminology such as “will”, “expects”, “anticipates”, “the future”, “intends”, “plans”, “believes”, “estimates”, “” and statements similar. These statements are based on current management expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the control of the Company. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including, but not limited to, the following: the Company’s limited operating history in the business of technology as a service for financial institutions; its ability to achieve or maintain profitability; the tightening of laws, regulations or standards in the financial services industry; the Company’s ability to comply with evolving regulatory requirements in the PRC and other jurisdictions in which it operates; its ability to comply with existing or future laws and regulations relating to data protection or security; its ability to maintain and expand its customer base or strengthen customer engagement; its ability to maintain its relationship with Ping An Group, which is its strategic partner, its most important customer and its largest supplier; its ability to compete effectively to serve Chinese financial institutions; the efficiency of its technologies, its ability to maintain and improve the technological infrastructure and security measures; its ability to protect its intellectual property and property rights; the risks of borrower default on loans for which the Company has provided credit enhancement as part of its historical credit management activity; its ability to maintain or expand its relationships with its business partners and the inability of its partners to function as expected; its ability to protect or promote its brand and reputation; its ability to implement and deploy its solutions in a timely manner; its ability to raise additional capital when desired; litigation and negative publicity surrounding China-based companies listed in the United States; disruptions in financial markets and business and economic conditions; the Company’s ability to seek and obtain optimal results from acquisition or expansion opportunities; the duration of the COVID-19 outbreak, including the emergence of COVID-19 variants, and its potential impact on the Company’s business and financial performance; and the assumptions underlying or related to all of the above. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company assumes no obligation to update any forward-looking statement, except as required by applicable law.
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