UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of June 2020

Commission File Number: 001-38712

 

 

Pintec Technology Holdings Limited

 

 

9/F Heng An Building

No. 17, East 3rd Ring Road

Chaoyang District, Beijing

People’s Republic of China

(Address of principal executive offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  ☒    Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

 

 

 

Partial corrections to the Form 6-Ks furnished on September 24, 2019 and December 13, 2019

In connection with the preparation of the Company’s consolidated financial statements as of and for the year ended December 31, 2019, the Company determined that, due to inadvertent errors, certain adjustments needed to be made to the unreviewed and unaudited condensed consolidated financial statements for the six months ended June 30, 2019 and the nine months ended September 30, 2019 furnished on Form 6-K to the United States Securities and Exchange Commission (the “SEC”) on September 24, 2019 and December 13, 2019.

The Company corrected the use of net basis rather than gross basis to record revenue earned from certain technical service fees for the six months ended June 30, 2018 and 2019 and the nine months ended September 30, 2018 and 2019.

The Company corrected the recognition of financial guarantee liabilities, financial guarantee assets, revenue recognized related to releasing of guarantee liabilities and cost on guarantee for the six months ended June 30, 2019 and the nine months ended September 30, 2019.

The Company furnishes this Form 6-K in order to correct the errors.

Although the impact of the corrections on its six months ended June 30, 2019 and nine months ended September 30, 2019 unreviewed and unaudited condensed consolidated financial statements were affected, the Company’s full year unreviewed and unaudited condensed consolidated financial statements of 2018 and 2019, which were included in the Form 6-K furnished to the SEC on June 16, 2020, were not affected.

 

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The tables below illustrate the effects of adjustments made to the unreviewed and unaudited condensed consolidated statements of operations and comprehensive income (loss) data for the six months ended June 30, 2018 and 2019 and nine months ended September 30, 2018 and 2019:

 

    As previously reported     Revised  
    For the Six Months Ended     For the Nine Months Ended     For the Six Months Ended     For the Nine Months Ended  

(In RMB thousands, except for share

and per share data)

  June 30, 2018     June 30, 2019     September 30,
2018 		    September 30,
2019 		    June 30,
2018 		    June 30,
2019 		    September 30,
2018 		    September 30,
2019 		 

Revenues:

               

Technical service fees

    399,703       383,759       586,037       643,251       645,052       623,965       977,462       854,910  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total revenues

    577,664       479,454       837,392       776,278       823,013       719,660       1,228,817       987,937  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Cost of revenues:

               

Cost on guarantee

    —         —         —         —         —         (48,733 )      —         (105,704 ) 

Service cost charged by Jimu Group-related party

    —         —         —         —         (245,349 )      (169,180 )      (391,425 )      (209,118 ) 

Cost of revenues

    (341,520 )      (204,877 )      (462,453 )      (302,598 )      (586,869 )      (422,790 )      (853,878 )      (617,420 ) 
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit

    236,144       274,577       374,939       473,680       236,144       296,870       374,939       370,517  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Operating expenses:

               

General and administrative expenses

    (96,589 )      (131,232 )      (159,591 )      (221,588 )      (96,589 )      (135,975 )      (159,591 )      (200,298 ) 

Total operating expenses

    (186,916 )      (218,566 )      (288,726 )      (342,538 )      (186,916 )      (223,309 )      (288,726 )      (321,248 ) 
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Operating profit

    49,228       56,011       86,213       131,142       49,228       73,561       86,213       49,269  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Gain/(loss) on guarantee liabilities

    —         9,678       (2,839 )      (44,382 )      —         —         (2,839 )      —    
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income before income tax expense

    44,053       93,950       75,662       111,142       44,053       101,822       75,662       73,651  

Net income

    12,386       73,335       15,760       115,226       12,386       81,207       15,760       77,735  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net (loss)/income attributable to ordinary shareholders

    (20,791 )      73,335       (51,617 )      115,226       (20,791 )      81,207       (51,617 )      77,735  

Total comprehensive income

    30,734       73,998       50,902       136,484       30,734       81,870       50,902       98,993  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Comprehensive (loss)/income attributable to ordinary shareholders

    (2,443 )      73,998       (16,475 )      136,484       (2,443 )      81,870       (16,475 )      98,993  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net (loss)/income per ordinary share

               

Basic

    (0.31 )      0.27       (0.76 )      0.42       (0.31 )      0.30       (0.76 )      0.28  

Diluted

    (0.31 )      0.26       (0.76 )      0.38       (0.31 )      0.28       (0.76 )      0.26  

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Pintec Technology Holdings Limited
By   :  

/s/ Steven Yuan Ning Sim

Name   :   Steven Yuan Ning Sim
Title   :   Chief Financial Officer

Date: June 29, 2020

 

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