OneConnect Financial Technology Co. Ltd., a technology-as-a-service provider for the financial services industry in China, reported its unaudited financial results for the first quarter of 2025. The company saw a significant decrease in revenue from continuing operations, which fell by 49.2% to RMB368 million compared to RMB723 million in the same period last year. This decline was primarily attributed to a RMB317 million decrease in revenue from the cloud services platform. The gross margin from continuing operations was reported at 28.5%, down from 37.7% in the previous year. The net loss attributable to shareholders from continuing operations was RMB38 million, which is an improvement compared to the RMB54 million loss recorded in the first quarter of 2024. The net margin of continuing operations to shareholders was -10.4%, compared to -7.4% in the prior year. OneConnect's operating loss from continuing operations was RMB56 million, compared to RMB66 million in the same period last year, with an operating margin of -15.3%, down from -9.2%. Revenue from Ping An Group and Lufax decreased by 67.2% to RMB158 million, while revenue from third-party customers experienced a 13.6% decline to RMB210 million. The decrease in total revenue was largely due to reduced demand for the implementation of financial services systems and lower transaction volumes from loan origination systems under digital credit management solutions. No specific outlook or guidance was provided in the report.