OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) Q4 2022 Earnings Call Transcript

Lydia Lin: So, my first question is a follow-up on localization. So, will the localization affect all the businesses line or just the implementation? And the second question is about operating expenses arrangement and allocation in 2023?

Danielle Gao: Thank you, Lydia. Your first question — Luo Yong will take your first question and also the second question. Thank you.

Shen Chong Feng: As I mentioned before, the drive for self-controlled technologies range from infrastructure to the application level. Therefore, implementation part is the biggest part of our efforts in self-controlled technologies. And as for the consulting plus implementation solution we offer, it is mostly about implementation and consulting is used as a tool for us to break into the banks. Actually, our three main business segments are quite relevant to self-controlled technologies. We see huge potential in both the application level, the core system level as well as the infrastructure layer.

Luo Yongtao: Okay. I think in 2023, the hiring process actually is pretty much back to normal already. We started hiring new tailings. Well, we will do some optimization due to the — related to the products optimization. According to the three expenses, we continue to put more resources into research and development. And for the sales and marketing, and general and administrative expenses, we will continue to have a very cost control policy. And looking forward, the ratio of all three expenses will keep going down until we breakeven on the mid-term. Thank you.

Operator: We currently have no further questions. I would like to hand back now to Danielle Gao for final remarks. Please go ahead.

Danielle Gao: Thank you everyone for joining the call today. If any questions, please feel free to contact our IR team. We appreciate your interest in following us and looking forward to speaking with you again. Thank you.

Operator: Ladies and gentlemen, this concludes today’s call. You can now disconnect your lines. Thank you.