Financial technology service provider OneConnect Financial Technology Co. Ltd. (OCFT.US; 6638.HK) is continuing to make strides in its journey to profitability, as reflected in its latest financial results that show growing revenue and more efficient operations helped to significantly narrow its quarterly loss. Yet there’s still work to do as it tries to expand its client base and to become more independent of shareholder Ping An Group.

The company hopes it can achieve such independence by appealing to a broader range of customers under the leadership of a new chairman, whose appointment was announced last week concurrent with the latest results. Shen Chongfen became OneConnect’s clear leader with his elevation to the new role while also retaining his current position as CEO.

OneConnect’s revenue grew about 17% year-on-year to 1.1 billion yuan ($161 million) in the second quarter, according to its announcement. While that’s a solid achievement, equally important was the substantially narrower loss on the technology-as-a-service provider’s bottom line. Its operating loss for the three months narrowed about 30% to 278 million yuan from a year earlier. Excluding expenses related to its Hong Kong IPO last month, which complemented its older New York listing, the figure shrank further to 246 million yuan.