Pintec Technology Holdings Limited (NASDAQ: PT) (“PINTEC” or the
“Company”), a leading independent technology platform enabling
financial services in China, today announced its unaudited
financial results for the six months ended June 30, 2020.
First Half
2020 Financial
Highlights
- Total revenues
decreased by 65.0% to RMB251.6million (US$35.6million) from
RMB719.7 million in the same period of 2019.
- Gross profit was
RMB42.7 million (US$6.0 million) compared to RMB296.9 million in
the same period of 2019. Gross margin was 17.0% compared to 41.3%
in the same period of 2019.
- Operating loss was
RMB100.0 million (US$14.2 million) compared to operating income of
RMB73.6 million in the same period of 2019.
- Net loss was
RMB104.2 million (US$14.7 million) compared to net income of
RMB81.2 million in the same period of 2019.
- Adjusted net loss1
was RMB96.9 million (US$13.7 million) compared to adjusted net
income of RMB111.1 million in the same period of 2019.
First Half
2020 Operating
Highlights
- Total
loans facilitated decreased by 82.8% to RMB1.2 billion (US$171
million) from RMB6.8 billion in the same period of 2019.
- Loan
outstanding balance decreased by 60.6% to RMB1.3 billion (US$180
million) as of June 30, 2020, from RMB3.3 billion as of December
31, 2019.
- The following table
provides delinquency rates by balance for all loans facilitated by
the Company as of the dates indicated:
|
Delinquent for |
|
16 - 30 days |
|
31 - 60 days |
|
61 - 90 days |
December 31, 2016 |
0.47 |
% |
|
0.76 |
% |
|
0.63 |
% |
December 31, 2017 |
1.11 |
% |
|
1.02 |
% |
|
0.74 |
% |
December 31, 2018 |
1.27 |
% |
|
2.35 |
% |
|
2.33 |
% |
December 31,2019 |
1.72 |
% |
|
2.98 |
% |
|
2.86 |
% |
June 30, 2020 |
1.31 |
% |
|
2.00 |
% |
|
2.54 |
% |
|
|
|
|
Mr. Victor Li, Chief Executive Officer of
PINTEC, commented, “In response to the challenges that we faced in
2019 and the first half of 2020, we decided to shift our business
focus by providing an increasing number of digital-centric
services. As such, we have divided our businesses into digital
technical services and digital operation services, which include
our licensed financial services. During the period, we began
developing supply chain financing systems for our clients in China.
Meanwhile, in Australia, we started providing corporate and
consumer credit solutions for more institutional partners.
Additionally, we initiated our robotic process automation services
for a world class stock exchange. We also continued to advance our
partnerships both domestically and abroad by helping our partners
upgrade their credit processes, augment their operational
efficiencies, and accelerate their digitization efforts. For
digital operation services, we remained focused on growing our
revenues and refining our organizational structure, marketing
strategies and product matrix during the period. In recognition of
China’s current lending environment, we are now in the process of
gradually winding down a significant portion of our technical
services using risk-sharing model, which is in line with our
strategic pivot. While this decision has undoubtedly impacted our
revenue generation capabilities in the short term, we believe that
it will ultimately help to bolster the sustainability of our growth
over the long term. Looking ahead, we remain confident that our
significant competitive advantages in technological innovation,
financial services, and partnerships will allow us to not only
maintain our business resiliency throughout the remainder of 2020,
but also reenter a new growth cycle in the coming year.”
Mr. Steven Sim, Chief Financial Officer of
PINTEC, stated, “We implemented a series of adjustments in the
first half of 2020 as a result of the changes in market conditions
and industry regulations. Consequently, in order to gradually
winding down our services using risk-sharing model, we have
decreased our activity with funding partners who require us to
share risks since 2020. During the second quarter of 2020, for
example, we reduced our M1+ delinquency rate compared to the first
quarter of 2020 and the fourth quarter of 2019. Meanwhile, we also
reduced our cost on guarantee liabilities by 47% in the second
quarter of 2020 compared to the first quarter in the same year. As
we continue to augment our digital technical services revenues and
prioritize the prudent management of costs to ensure our healthy
growth and expansion, we expect to return to profitability in
2021.”
First Half
2020 Financial
Results
Total RevenuesTotal revenues in
the first half of 2020 decreased by 65.0% to RMB251.6 million
(US$35.6 million) from RMB719.7 million in the same period of
2019.
- Revenues from
technical service fees in the first half of 2020 decreased by 66.0%
to RMB212.1 million (US$30.0 million) from RMB624.0 million in the
same period of 2019. This decrease was mainly due to the decrease
in off-balance sheet loans facilitated in the first half of
2020.
- Revenues from
installment service fees in the first half of 2020 decreased by
57.5% to RMB34.8 million (US$4.9 million) from RMB82.0 million in
the same period of 2019. This decrease was mainly due to the
decrease in the Company’s on-book installment loan volume during
the first half of 2020.
- Revenues from
wealth management service fees in the first half of 2020 decreased
by 66.0% to RMB4.7 million (US$0.7 million) from RMB13.7 million in
the same period of 2019.
Cost of Revenues
Cost of revenues in the first half of 2020
decreased by 50.6% to RMB208.9 million (US$29.6 million) from
RMB422.8 million in the same period of 2019. This decrease was
mainly attributable to (1) the decrease in service cost charged by
Jimu Group as our cooperation model with Jimu Group changed from a
model where Jimu Group provided credit enhancement for the
borrowers to a model where we provided credit enhancement to the
borrowers on our own from April 2019, and (2) the decrease in
origination and servicing cost primarily due to reduced user
acquisition costs as a result of decrease in loan volume
facilitated; partially offset by (1) the increase in provisions for
credit loss of on-book loans due to the impact of COVID-19 and
resulting decline in asset quality and increase in M3+ delinquency
rates by balance in the period as well as (2) the increased costs
on guarantee liabilities for off-book loans in the period. Cost on
guarantee liabilities significantly increased due to the fact that
most services using risk-sharing model started from May 2019, while
loan quality has continuously deteriorated since the second half of
2019. Nevertheless, as a result of the Company’s commitment to
gradually stopping providing any guarantee in 2020, the cost on
phasing out guarantees and costs on guarantee liabilities have
decreased on a sequential basis since the second half of 2019.
Delinquency rates have also improved significantly since the second
quarter of 2020.
Gross Profit
Gross profit in the first half of 2020 decreased
to RMB42.7 million (US$6.0 million) from RMB296.9 million in the
same period of 2019. Gross margin in the first half of 2020 was
17.0% compared to 41.3% in the same period of 2019.
Operating Expenses
Total operating expenses in the first half of
2020 decreased by 36.1% to RMB142.7 million (US$20.2 million) from
RMB223.3 million in the same period of 2019. The Company has
continued to optimize and refine its organizational structure,
marketing strategies and product matrix since the beginning of
2020.
- Sales and marketing
expenses in the first half of 2020 decreased by 41.1% to RMB24.9
million (US$3.5 million) from RMB42.2 million in the same period of
2019. This decrease was primarily driven by the decrease in staff
cost, promotion expense and share-based compensation. Staff cost
decreased due to adjustments to the Company’s employee structure.
Promotion expense decreased due to our reduction of online
advertisement expenditure. Share-based compensation decreased due
to most of the share-based compensations are amortized in prior
years.
- General and
administrative expenses in the first half of 2020 decreased by
31.6% to RMB93.0 million (US$13.2 million) from RMB136.0 million in
the same period of 2019. This decrease was primarily driven by the
decrease in share-based compensation as well as the decrease in
staff cost. Bad debt expenses also decreased in the period, which
was mainly due to the decrease in provision for bad debts as a
result of the decreases in both loan balance and accounts
receivable balance for technical service fees.
- Research and
development expenses in the first half of 2020 decreased by 44.9%
to RMB24.8 million (US$3.5 million) from RMB45.1 million in the
same period of 2019, primarily driven by the decrease in staff cost
due to the optimization of personnel structure.
Operating
Income/Loss
Operating loss in the first half of 2020 was
RMB100.0 million (US$14.2 million) compared to operating income of
RMB73.6 million in the same period of 2019.
Net
Income/Loss
Net loss in the first half of 2020 was RMB104.2
million (US$14.7 million) compared to net income of RMB81.2 million
in the same period of 2019.
Net loss attributable to ordinary shareholders
in the first half of 2020 was RMB104.3 million (US$14.8 million)
compared to net income attributable to ordinary shareholders of
RMB81.2 million in the same period of 2019.
Adjusted net loss in the first half of 2020 was
RMB96.9 million (US$13.7 million) compared to adjusted net income
of RMB111.1 million in the same period of 2019.
Net Income/loss
per Share
Basic and diluted net loss per ordinary share in
the first half of 2020 were both RMB0.35 (US$0.05). Basic and
diluted net loss per American Depositary Share (“ADS”) in the first
half of 2020 were both RMB2.45 (US$0.35). Each ADS represents seven
of the Company’s Class A ordinary shares.
Adjusted basic and diluted net loss per ordinary
share in the first half of 2020 were both RMB0.33 (US$0.05).
Adjusted basic and diluted net loss per ADS in the first half of
2020 were both RMB2.29 (US$0.32).
Balance Sheet
The Company had combined cash and cash
equivalents, short-term and long-term restricted cash of RMB588.5
million (US$83.3 million) as of June 30, 2020, compared to RMB580.9
million as of December 31, 2019.
The Company’s total net financing receivables,
including short-term and long-term receivables, decreased by 83.1%
to RMB75.9 million (US$10.7 million) as of June 30, 2020, from
RMB449.5 million as of December 31, 2019, mainly due to the lower
volume of the Company’s on-book loan business.
Correction of previously issued
unreviewed and unaudited condensed consolidated financial
statements
The Company filed the Form 6-K on June 29, 2020
to partially correct the Form 6-Ks furnished on September 24, 2019
and December 13, 2019 respectively regarding the unreviewed and
unaudited condensed consolidated financial statements for the six
months ended June 30, 2019 and the nine months ended September 30,
2019.
Conference Call Information
The Company’s management team will hold a Direct
Event conference call on Monday, September 21, 2020, at 8:00 A.M.
Eastern Time (or 8:00 P.M. Beijing Time on the same day) to discuss
the financial results. Details for the conference call are as
follows:
Event
Title: |
Pintec
Technology Holdings Ltd.’s First Half 2020 Earnings Conference
Call |
Conference ID: |
5069386 |
Registration Link |
http://apac.directeventreg.com/registration/event/5069386 |
Due to the global outbreak of the COVID-19,
operator assisted conference calls are not available at the moment.
All participants must use the link provided above to complete the
online registration process in advance of the conference call. Upon
registering, each participant will receive a set of participant
dial-in numbers, the Direct Event passcode, and a unique access
PIN, which can be used to join the conference call.
The replay will be accessible through September 29,
2020, by dialing the following numbers:
International: |
+61-2-8199-0299 |
United States Toll Free: |
+1-855-452-5696 |
Conference ID: |
5069386 |
A live and archived webcast of the conference call
will also be available at the Company's investor relations website
at http://ir.pintec.com/.
Use of Non-GAAP Financial
Measures
In evaluating its business, the Company
considers and uses adjusted net income/loss as a supplemental
measure to review and assess its operating performance. The
presentation of this non-GAAP financial measure is not intended to
be considered in isolation or as a substitute for the financial
information prepared and presented in accordance with U.S. GAAP.
The Company defines adjusted net income/loss as net income/loss
excluding share-based compensation expenses.
The Company believes that this non-GAAP
financial measure can help management evaluate the Company’s
operating performance and formulate business plans. Adjusted net
income/loss enables management to assess operating results without
considering the impact of share-based compensation expenses. The
Company also believes that this non-GAAP financial measure provides
useful information about its operating results, enhance the overall
understanding of its past performance and future prospects and
allows for greater visibility with respect to key metrics used by
management in their financial and operational decision-making.
This non-GAAP financial measure is not defined
under U.S. GAAP and is not presented in accordance with U.S. GAAP.
This non-GAAP financial measure has limitations as an analytical
tool. One of the key limitations of using adjusted net income/loss
is that it does not reflect all items of income and expenses that
affect the Company’s operations. The company will continue to incur
share-based compensation expenses in its business, which are
reflected in the presentation of its adjusted net income/loss.
Further, this non-GAAP financial measure may differ from non-GAAP
financial information used by other companies, including peer
companies, and therefore its comparability may be limited.
The Company compensates for these limitations by
reconciling this non-GAAP financial measure to the most directly
comparable U.S. GAAP financial measure, net income/loss, which
should be considered when evaluating the Company’s performance. The
Company encourages you to review its financial information in its
entirety and not rely on a single financial measure.
Exchange Rate
This announcement contains translations of
certain RMB amounts into U.S. dollars (“USD”) at specified rates
solely for the convenience of the reader. Unless otherwise stated,
all translations from RMB to USD were made at the rate of RMB7.0651
to US$1.00, the noon buying rate in effect on June 30, 2020, in the
H.10 statistical release of the Federal Reserve Board. The Company
makes no representation that the RMB or USD amounts referred to
could be converted into USD or RMB, as the case may be, at any
particular rate or at all. For analytical presentation, all
percentages are calculated using the numbers presented in the
financial statements contained in this earnings release.
Safe Harbor Statement
This press release contains forward-looking
statements. These statements constitute "forward-looking"
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended, and as defined in the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "target," "confident" and similar
statements. Among other things, the quotations from management in
this announcement, as well as PINTEC’s strategic and operational
plans, contain forward-looking statements. PINTEC may also make
written or oral forward-looking statements in its periodic reports
to the U.S. Securities and Exchange Commission, in its annual
report to shareholders, in press releases and other written
materials and in oral statements made by its officers, directors or
employees to third parties. Such statements are based upon
management's current expectations and current market and operating
conditions, and relate to events that involve known or unknown
risks, uncertainties and other factors, all of which are difficult
to predict and many of which are beyond the Company's control.
Forward-looking statements involve inherent risks, uncertainties
and other factors that could cause actual results to differ
materially from those contained in any such statements. Potential
risks and uncertainties include, but are not limited to, the
Company’s limited operating history, regulatory uncertainties
relating to online consumer finance in China, the Company’s
reliance on Jimu Group for a significant portion of its funding and
the need to further diversify its financial partners, the Company’s
reliance on a limited number of business partners, the impact of
current or future PRC laws or regulations on wealth management
financial products, publicity regarding the consumer finance
industry and the evolving regulatory environment governing this
industry in China, and the Company's ability to meet the standards
necessary to maintain the listing of its ADSs on the Nasdaq Global
Market, including its ability to cure any non-compliance with
Nasdaq's continued listing criteria. Further information regarding
these and other risks, uncertainties or factors is included in the
Company's filings with the U.S. Securities and Exchange Commission.
All information provided in this press release is as of the date of
this press release, and the Company does not undertake any
obligation to update any forward-looking statement as a result of
new information, future events or otherwise, except as required
under applicable law.
About PINTEC
Pintec is a leading independent technology
platform enabling financial services in China. By connecting
business and financial partners on its open platform, Pintec
enables them to provide financial services to end users efficiently
and effectively. The Company offers its partners a full suite of
customized solutions, ranging from digital retail lending, digital
business lending, robotic process automation, to wealth management
and insurance products. Leveraging its scalable and reliable
technology infrastructure, Pintec serves a wide range of industry
verticals covering online travel, e-commerce, telecommunications,
online education, SaaS platforms, financial technology, internet
search, and online classifieds and listings, as well as various
types of financial partners including banks, brokers, insurance
companies, investment funds and trusts, consumer finance companies
and other similar institutions. For more information, please visit
ir.pintec.com.
For further information, please
contact:
Joyce TangPintec Technology Holdings Ltd.Phone:
+1-646-308-1622E-mail: ir@pintec.com
|
Pintec Technology Holdings Ltd. |
|
Unaudited Condensed Consolidated Balance
Sheets |
|
As of |
(In thousands, except for share and per share
data) |
|
December 31,2019 |
|
June 30, 2020 |
|
|
RMB |
|
RMB |
|
USD |
ASSETS |
|
|
|
|
|
|
Current
assets: |
|
|
|
|
|
|
Cash and cash equivalents |
|
102,755 |
|
|
232,197 |
|
|
32,865 |
|
Restricted cash |
|
382,695 |
|
|
261,308 |
|
|
36,986 |
|
Short-term financing receivables, net |
|
430,387 |
|
|
62,632 |
|
|
8,865 |
|
Short-term financial guarantee assets, net |
|
91,374 |
|
|
52,160 |
|
|
7,383 |
|
Accounts receivable, net |
|
74,251 |
|
|
53,218 |
|
|
7,533 |
|
Prepayments and other current assets |
|
78,330 |
|
|
88,252 |
|
|
12,491 |
|
Amounts due from related parties |
|
64 |
|
|
30 |
|
|
4 |
|
Total current
assets |
|
1,159,856 |
|
|
749,797 |
|
|
106,127 |
|
Non-current
assets: |
|
|
|
|
|
|
Non-current restricted cash |
|
95,454 |
|
|
95,042 |
|
|
13,452 |
|
Amounts due from related parties, net |
|
10,000 |
|
|
10,000 |
|
|
1,415 |
|
Long‑term financing receivables, net |
|
19,100 |
|
|
13,233 |
|
|
1,873 |
|
Long-term financial guarantee assets, net |
|
3,647 |
|
|
1,091 |
|
|
154 |
|
Non-current prepayments |
|
- |
|
|
15,000 |
|
|
2,123 |
|
Long‑term investments |
|
108,603 |
|
|
152,253 |
|
|
21,550 |
|
Deferred tax assets |
|
64,675 |
|
|
84,418 |
|
|
11,949 |
|
Property, equipment and software, net |
|
14,317 |
|
|
12,068 |
|
|
1,708 |
|
Intangible assets, net |
|
49,790 |
|
|
44,058 |
|
|
6,236 |
|
Goodwill |
|
35,157 |
|
|
35,157 |
|
|
4,976 |
|
Total non-current
assets |
|
400,743 |
|
|
462,320 |
|
|
65,436 |
|
TOTAL
ASSETS |
|
1,560,599 |
|
|
1,212,117 |
|
|
171,563 |
|
|
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
|
Current
liabilities: |
|
|
|
|
|
|
Short-term borrowings |
|
320,000 |
|
|
290,000 |
|
|
41,047 |
|
Short-term funding debts |
|
300,212 |
|
|
18,703 |
|
|
2,647 |
|
Accounts payable |
|
57,719 |
|
|
19,972 |
|
|
2,827 |
|
Amounts due to related parties |
|
10,191 |
|
|
8,186 |
|
|
1,159 |
|
Tax payable |
|
52,535 |
|
|
70,079 |
|
|
9,919 |
|
Debt instrument |
|
81,053 |
|
|
94,672 |
|
|
13,400 |
|
Financial guarantee liability |
|
101,933 |
|
|
51,947 |
|
|
7,353 |
|
Accrued expenses and other liabilities |
|
157,945 |
|
|
356,572 |
|
|
50,469 |
|
Total current
liabilities |
|
1,081,588 |
|
|
910,131 |
|
|
128,821 |
|
Non-current
liabilities: |
|
|
|
|
|
|
Long-term funding debts |
|
21,498 |
|
|
21,498 |
|
|
3,043 |
|
Long-term borrowings |
|
80,000 |
|
|
- |
|
|
- |
|
Deferred tax liabilities |
|
2,128 |
|
|
109 |
|
|
15 |
|
Other non-current liabilities |
|
8,683 |
|
|
8,283 |
|
|
1,172 |
|
Consideration payable for acquisition |
|
7,982 |
|
|
2,472 |
|
|
350 |
|
Total non-current
liabilities |
|
120,291 |
|
|
32,362 |
|
|
4,580 |
|
TOTAL
LIABILITIES |
|
1,201,879 |
|
|
942,493 |
|
|
133,401 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SHAREHOLDERS’
EQUITY |
|
|
|
|
|
|
Class A Ordinary Shares |
|
212 |
|
|
221 |
|
|
31 |
|
Class B Ordinary Shares |
|
42 |
|
|
42 |
|
|
6 |
|
Additional paid-in capital |
|
1,977,365 |
|
|
1,985,519 |
|
|
281,032 |
|
Statutory reserves |
|
29,659 |
|
|
29,659 |
|
|
4,198 |
|
Accumulated other comprehensive income |
|
42,890 |
|
|
49,826 |
|
|
7,052 |
|
Accumulated deficit |
|
(1,860,640 |
) |
|
(1,964,902 |
) |
|
(278,114 |
) |
TOTAL SHAREHOLDERS’
EQUITY |
|
189,528 |
|
|
100,366 |
|
|
14,205 |
|
Non-controlling interests |
|
169,192 |
|
|
169,258 |
|
|
23,957 |
|
TOTAL
EQUITY |
|
358,720 |
|
|
269,624 |
|
|
38,162 |
|
TOTAL LIABILITIES,
SHAREHOLDERS’ EQUITY |
|
1,560,599 |
|
|
1,212,117 |
|
|
171,563 |
|
|
|
|
|
|
|
|
|
|
|
|
Pintec Technology Holdings Ltd. |
Unaudited Condensed Consolidated Statements of Operations
and Comprehensive
income/(loss) |
|
|
|
|
|
|
|
For the Six Months Ended |
(In thousands, except for share and per share
data) |
|
June 30, |
|
June 30, |
|
June 30, |
|
2019 |
|
2020 |
|
2020 |
|
|
RMB |
|
RMB |
|
USD |
Revenues: |
|
|
|
|
|
|
Technical service fees |
|
623,965 |
|
|
212,107 |
|
|
30,022 |
|
Installment service fees |
|
82,009 |
|
|
34,831 |
|
|
4,930 |
|
Wealth management service fees |
|
13,686 |
|
|
4,650 |
|
|
658 |
|
Total
revenues |
|
719,660 |
|
|
251,588 |
|
|
35,610 |
|
Cost of
revenues: |
|
|
|
|
|
|
Funding cost |
|
(38,273 |
) |
|
(14,792 |
) |
|
(2,094 |
) |
Provision for credit losses |
|
(15,091 |
) |
|
(35,310 |
) |
|
(4,998 |
) |
Origination and servicing cost |
|
(151,513 |
) |
|
(58,861 |
) |
|
(8,330 |
) |
Cost on guarantee liability |
|
(48,733 |
) |
|
(81,085 |
) |
|
(11,477 |
) |
Service cost charged by Jimu Group-related party |
|
(169,180 |
) |
|
(18,889 |
) |
|
(2,674 |
) |
Cost of
revenues |
|
(422,790 |
) |
|
(208,937 |
) |
|
(29,573 |
) |
Gross
profit |
|
296,870 |
|
|
42,651 |
|
|
6,037 |
|
Operating
expenses: |
|
|
|
|
|
|
Sales and marketing expenses |
|
(42,243 |
) |
|
(24,866 |
) |
|
(3,520 |
) |
General and administrative expenses |
|
(135,975 |
) |
|
(92,983 |
) |
|
(13,161 |
) |
Research and development expenses |
|
(45,091 |
) |
|
(24,824 |
) |
|
(3,514 |
) |
Total operating
expenses |
|
(223,309 |
) |
|
(142,673 |
) |
|
(20,195 |
) |
Operating
profit/(loss) |
|
73,561 |
|
|
(100,022 |
) |
|
(14,158 |
) |
Share of (loss)/income from equity method investments |
|
(4,794 |
) |
|
1,540 |
|
|
218 |
|
Other income/(loss), net |
|
343 |
|
|
(6,861 |
) |
|
(971 |
) |
Interest income from related parties |
|
32,712 |
|
|
- |
|
|
- |
|
Income/(loss)
before income tax expense |
|
101,822 |
|
|
(105,343 |
) |
|
(14,911 |
) |
Income tax (benefit)/expense |
|
(20,615 |
) |
|
1,147 |
|
|
162 |
|
Net
income/(loss) |
|
81,207 |
|
|
(104,196 |
) |
|
(14,749 |
) |
Net income attributable to Non-controlling interest |
|
- |
|
|
66 |
|
|
9 |
|
Net income/(loss) attributable to Pintec Technology Holdings
Limited shareholders |
|
81,207 |
|
|
(104,262 |
) |
|
(14,758 |
) |
Other comprehensive
income: |
|
|
|
|
|
|
Foreign currency translation adjustments, net of nil tax |
|
663 |
|
|
6,936 |
|
|
982 |
|
Total other
comprehensive income |
|
663 |
|
|
6,936 |
|
|
982 |
|
Total comprehensive
income/(loss) |
|
81,870 |
|
|
(97,260 |
) |
|
(13,767 |
) |
Total comprehensive income attributable to Non-controlling
interest |
|
- |
|
|
66 |
|
|
9 |
|
Total comprehensive income/(loss) attributable to Pintec Technology
Holdings Limited shareholders |
|
81,870 |
|
|
(97,326 |
) |
|
(13,776 |
) |
|
|
|
|
|
|
|
Net
income/(loss)
per ordinary share |
|
|
|
|
|
|
Basic |
|
0.30 |
|
|
(0.35 |
) |
|
(0.05 |
) |
Diluted |
|
0.28 |
|
|
(0.35 |
) |
|
(0.05 |
) |
Weighted average
ordinary shares outstanding |
|
|
|
|
|
|
Basic |
|
275,001,781 |
|
|
296,393,017 |
|
|
296,393,017 |
|
Diluted |
|
286,032,181 |
|
|
296,393,017 |
|
|
296,393,017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pintec Technology Holdings Ltd. |
|
|
Unaudited Reconciliations of GAAP and Non-GAAP
Results |
|
|
|
For the six Months Ended |
(In thousands, except for share and per share
data) |
|
June 30, |
|
|
June 30, |
|
June 30, |
|
2019 |
|
|
2020 |
|
2020 |
|
|
RMB |
|
|
RMB |
|
USD |
Net income/(loss) |
|
81,207 |
|
|
(104,196 |
) |
|
(14,749 |
) |
Add: Share-based compensation expenses |
|
29,903 |
|
|
7,335 |
|
|
1,038 |
|
Adjusted net income/(loss) |
|
111,110 |
|
|
(96,861 |
) |
|
(13,711 |
) |
|
|
|
|
|
|
|
|
|
Adjusted
net income/(loss) per ordinary
share |
|
|
|
|
|
|
|
Basic |
|
0.40 |
|
|
(0.33 |
) |
|
(0.05 |
) |
Diluted |
|
0.39 |
|
|
(0.33 |
) |
|
(0.05 |
) |
Weighted
average number of ordinary shares outstanding |
|
|
|
|
|
|
|
Basic |
|
275,001,781 |
|
|
296,393,017 |
|
|
296,393,017 |
|
Diluted |
|
286,032,181 |
|
|
296,393,017 |
|
|
296,393,017 |
|
________________________________
1 Adjusted net income/(loss) is a non-GAAP
financial measure, representing net income/(loss) before
share-based compensation expenses. For more information on non-GAAP
financial measures, please see the section of "Use of Non-GAAP
Financial Measures Statement" and the tables captioned “Unaudited
Reconciliations of GAAP and Non-GAAP Results” set forth at the end
of this release.
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