SHENZHEN, China, August 12, 2021–(Enterprise WIRE)–OneConnect Economic Know-how Co., Ltd. (“OneConnect” or the “Corporation”) (NYSE: OCFT), a leading technological know-how-as-a-support platform for economical institutions in China, these days announced that it was informed by its Chairman and Chief Executive Officer and specific other associates of its management crew of their intention to use their personal funds to acquire up to an mixture of US$10 million value of the Company’s ADSs through a a few-thirty day period interval following right now, pursuant and matter to applicable guidelines and the Company’s securities trading policy. The proposed administration share buys may be made from time to time in the open up current market at prevailing marketplace charges, in privately negotiated transactions, in block trades and/or by way of other lawfully permissible implies, based on industry disorders and in accordance with applicable regulations and polices. The administration team has agreed to be subject to lock-up constraints for a interval of at least 6 months with respect to the proposed procured shares. The proposed share obtain demonstrates the management’s self esteem in the fundamental and long-phrase development of the Organization. Right after the invest in, the interests of the administration will be even extra intently aligned with these of the Company’s shareholders.
OneConnect is a primary technological know-how-as-a-support system for financial institutions in China. The Company’s system supplies cloud-indigenous technologies remedies that combine comprehensive fiscal expert services industry expertise with industry-top technologies. The Company’s methods provide technologies programs and technology-enabled business products and services to economic institutions. Jointly they allow the Company’s customers’ electronic transformations, which support them enhance profits, take care of risks, enhance efficiency, boost company good quality and lessen expenditures.
The Firm’s technologies-as-a-company system strategically handles multiple verticals in the financial companies business, like banking, insurance policies and asset management, across the total scope of their businesses – from product sales and advertising and marketing and danger management to purchaser solutions, as well as technologies infrastructure these kinds of as knowledge management, plan progress and cloud services.
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Safe Harbor Assertion
This announcement consists of forward-searching statements. These statements represent “forward-seeking” statements inside the which means of Area 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-searching statements can be discovered by terminology these kinds of as “will”, “expects”, “anticipates”, “potential”, “intends”, “ideas”, “believes”, “estimates”, “assured” and very similar statements. This kind of statements are based mostly on management’s present-day expectations and present market and running ailments and relate to situations that involve recognized or unidentified risks, uncertainties and other components, all of which are complicated to forecast and quite a few of which are outside of the Company’s manage. Ahead-searching statements contain inherent dangers and uncertainties. A number of factors could trigger genuine results to differ materially from these contained in any forward-seeking assertion, which includes but not minimal to the next: the Company’s constrained working historical past in the technological innovation-as-a-provider for economical institutions industry its potential to attain or sustain profitability the tightening of rules, restrictions or expectations in the monetary providers marketplace the Company’s potential to comply with the evolving regulatory specifications in the PRC and other jurisdictions exactly where it operates its means to comply with current or future guidelines and laws relevant to facts protection or data protection its ability to preserve and enlarge the customer foundation or reinforce purchaser engagement its ability to sustain its marriage with Ping An Team, which is its strategic associate, most critical client and major supplier its capacity to contend successfully to serve China’s fiscal establishments the effectiveness of its technologies, its capability to sustain and boost technological know-how infrastructure and security steps its ability to safeguard its mental home and proprietary rights hazards of defaults by debtors under the loans for which the Organization offered credit history enhancement underneath its legacy credit administration business enterprise its skill to maintain or grow romantic relationship with its business companions and the failure of its associates to complete in accordance with anticipations its skill to guard or encourage its model and name its capacity to timely put into practice and deploy its methods its skill to get hold of extra funds when wished-for litigation and unfavorable publicity surrounding China -dependent corporations shown in the U.S. disruptions in the money markets and company and financial situations the Company’s means to go after and obtain best outcomes from acquisition or growth chances the period of the COVID-19 outbreak, like the emergence of COVID variants, and its probable influence on the Company’s small business and monetary general performance and assumptions fundamental or associated to any of the foregoing. Further details concerning these and other challenges is incorporated in the Company’s filings with the SEC. All info offered in this press release and in the attachments is as of the date of this push launch, and the Business undertakes no obligation to update any forward-wanting statement, besides as needed underneath applicable regulation.
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