Key Takeaways:

• OneConnect will shutter its cloud services division, which accounted for nearly half its revenue, after losing most of its customers for the business
• The development underscores a major risk for Chinese companies that rely too heavily on business from their parent and other related companies

By Doug Young

The story of former fintech highflyerOneConnect Financial Technology Co. Ltd.(NYSE:OCFT) is rapidly shaping up as a tale of an incredible shrinking company. It also offers a valuable corporate lesson on the dangers of relying too heavily on business from related companies.

OneConnect made headlines late last week...