Pintec Elects to Rely on the SEC Order for Filing Relief in Connection with its Form 20-F for the Year Ended December 31, 2019
Pintec Technology Holdings Limited (the
Company) is filing this current report on Form 6-K pursuant to an order issued by the U.S. Securities and Exchange Commission under Section 36 of the Securities Exchange Act of 1934 on March 4, 2020, as amended on
March 25, 2020 (the SEC Order), providing conditional relief to public companies that are unable to timely comply with their filing obligations as a result of the outbreak of COVID-19.
The recent outbreak of COVID-19 has significantly hindered the Companys ability to file its
Annual Report on Form 20-F for the year ended December 31, 2019 (the Annual Report) by the original due date of April 30, 2020. Therefore, the Company has elected to rely on the
conditional filing relief provided under the SEC Order. In accordance with the SEC Order, the Company plans to file the Annual Report no later than 45 days after the original due date.
Starting from early 2020, the Chinese government took a number of actions to attempt to contain the spread of
COVID-19, which included extending the Chinese New Year holiday, quarantining individuals infected with or suspected of being infected with COVID-19, restricting
residents from travel, encouraging employees of enterprises to work remotely from home and cancelling public activities. Currently, people traveling to Beijing, where the Companys headquarters are located, may be quarantined.
The Company has taken a series of measures in response to the outbreak to protect its employees, including temporarily closing offices,
facilitating remote working arrangements for its employees and cancelling business meetings and travel. These measures have reduced the Companys ability to gather information and to organize such information for the use of its finance staff
and outside advisors. As a result, the preparation of the Companys Annual Report has been delayed. Considering the lack of time for the compilation, dissemination and review of the information required to be presented, and the need to ensure
the accuracy of the information presented to investors in the Annual Report, the Company has decided to rely on the SEC Order.
When the
Company files the Annual Report, the Company plans to include the following risk factor, expanded or revised as the Company determines appropriate, to reflect the currently unknown and constantly evolving effects of the COVID-19 pandemic and the resulting worldwide crisis:
Our business has been and is likely to continue to be
materially adversely affected by the outbreak of COVID-19 in China.
Since the beginning of
2020, outbreaks of COVID-19 have resulted in the temporary closure of many corporate offices, retail stores, and manufacturing facilities across China. Normal economic life throughout China has been sharply
curtailed. The population in most of the major cities was locked down to a greater or lesser extent and opportunities for discretionary consumption were extremely limited. While many of the restrictions on movement within China have been relaxed as
of the date of this annual report, there is great uncertainty as to the future progress of the disease. Currently, there is no vaccine or specific anti-viral treatment for COVID-19. Relaxation of restrictions
on economic and social life may lead to new cases which may lead to the reimposition of restrictions.
Substantially all of our employees
are based in Beijing and Shanghai, and we generate substantially all of our revenues in China. We have taken a series of measures in response to the outbreak to protect our employees, including temporarily closing our offices, facilitating remote
working arrangements for our employees and cancelling business meetings and travel. Our business partners have also been adversely impacted since the beginning of 2020, particularly our business partners in the online travel agency and telecom
industries. As a result of the above, our loan volume in the first quarter of 2020 has decreased dramatically compared with the corresponding period of 2019.