20-F/A: OneConnect Financial Technology Files Amendment No. 1 to 2023 Annual Report on Form 20-F

OneConnect Financial Technology Co., Ltd. files an amendment to its 2023 annual report solely to include updated certifications from its principal executive and financial officers.

Summary

• OneConnect Financial Technology Co., Ltd. has filed Amendment No. 1 to its annual report on Form 20-F for the fiscal year ended December 31, 2023.
• The amendment is being filed to include updated certifications by the company's principal executive officer and principal financial officer, as required by Rule 13a-14(a) of the Securities Exchange Act of 1934.
• The original filing was made on April 23, 2024.
• The company has 1,169,980,653 ordinary shares outstanding as of the close of the period covered by the annual report.
• Each American depositary share (ADS) represents thirty ordinary shares, with a par value of US$0.00001 per share.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing, indicating standard compliance procedures. The certifications from the CEO and CFO suggest confidence in the accuracy of the financial reporting.

Management Comments

• Chongfeng Shen, Chairman of the Board of Directors and Chief Executive Officer, certified that the report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report.
• Chongfeng Shen, Chairman of the Board of Directors and Chief Executive Officer, certified that the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the company as of, and for, the periods presented in this report.
• Yongtao Luo, Chief Financial Officer, certified that the report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report.
• Yongtao Luo, Chief Financial Officer, certified that the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the company as of, and for, the periods presented in this report.

Industry Context

This filing is a standard regulatory requirement for companies listed on U.S. exchanges, ensuring compliance with the Sarbanes-Oxley Act.

Comparison to Industry Standards

• The filing of a 20-F form is standard practice for foreign companies listed on U.S. stock exchanges, similar to how companies like Alibaba and JD.com comply with SEC regulations.
• The certifications by the CEO and CFO are mandated by the Sarbanes-Oxley Act, a common requirement for all publicly traded companies to ensure financial transparency and accountability, similar to what is expected from companies like Tencent and Baidu.

Stakeholder Impact

• The filing of updated certifications reinforces investor confidence in the accuracy and reliability of the company's financial reporting.
• Stakeholders can be assured that the company is adhering to regulatory requirements and maintaining appropriate internal controls.

Key Dates

Keywords

20-F, annual report, OneConnect Financial Technology, certifications, financial reporting, Amendment No. 1