BEIJING, Aug. 21,
2023 /PRNewswire/ -- Jianpu Technology Inc.
("Jianpu," or the "Company") (NYSE: JT), a leading independent open
platform for the discovery and recommendation of financial products
in China, today announced its
unaudited financial results for the second quarter ended
June 30, 2023.
Second Quarter 2023 Operational and
Financial Highlights:
- Total revenues from recommendation services for the second
quarter of 2023 decreased by 8.9% to RMB186.5 million (US$25.7
million) from RMB204.7 million
in the same period of 2022. The decrease was mainly attributable to
the decrease in revenues from recommendation services for credit
cards, partially offset by the increase in revenues from
recommendation services for loans. Credit card volume decreased by
25.0% to approximately 0.9 million in the second quarter of 2023
from 1.2 million in the same period of 2022. The number of loan
applications for recommendation services increased by 27.9% to
approximately 5.5 million in the second quarter of 2023 compared
with that in the same period of 2022.
- Revenues from big data and system-based risk management
services increased by 23.2% to RMB28.1
million (US$3.9 million) in
the second quarter of 2023 from RMB22.8
million in the same period of 2022. The increase was mainly
attributable to the increase in average spending per customer.
- Revenues from marketing and other services[1]
increased by 88.6% to RMB70.9 million
(US$9.8 million) in the second
quarter of 2023 from RMB37.6 million
in the same period of 2022. The increase was mainly attributable to
the growth of insurance brokerage services and other new
businesses.
- Loss from operations was RMB10.6
million (US$1.5 million) in
the second quarter of 2023, compared with RMB35.9 million in the same period of 2022.
Operating loss margin was 3.7% in the second quarter of 2023,
compared with 13.5% in the same period of 2022. The improvement of
loss from operations was mainly attributable to the increase in
revenues and the decrease in operating expenses resulting from
efficiency improvement and cost optimization.
- Net loss was RMB0.9 million
(US$0.1 million) in the second
quarter of 2023, compared with RMB35.9
million in the same period of 2022. Net loss margin was 0.3%
in the second quarter of 2023, compared with 13.5% in the same
period of 2022.
- Non-GAAP adjusted net loss[2] was RMB7.3 million (US$1.0
million) in the second quarter of 2023, compared with
RMB32.2 million in the same period of
2022. Non-GAAP adjusted net loss margin[2] was 2.6% in
the second quarter of 2023, compared with 12.1% in the same period
of 2022.
First Half Year 2023 Operational and
Financial Highlights:
- Total revenues from recommendation services for the first half
year of 2023 increased by 7.6% to RMB375.2
million (US$51.7 million) from
RMB348.8 million in the same period
of 2022. The increase was mainly attributable to the increase in
revenues from recommendation services for loans, partially offset
by the decrease in revenues from recommendation services for credit
cards. The number of loan applications for recommendation services
increased by 18.3% to approximately 9.7 million in the first half
year of 2023 compared with that in the same period of 2022. The
credit card volume decreased by 4.8% to approximately 2.0 million
in the first half year of 2023 compared with that in the same
period of 2022.
- Revenues from big data and system-based risk management
services increased by 17.9% to RMB50.7
million (US$7.0 million) in
the first half year of 2023 from RMB43.0
million in the same period of 2022. The increase was mainly
attributable to the increase in average spending per customer.
- Revenues from marketing and other services[1]
increased by 84.4% to RMB149.0
million (US$20.5 million) in
the first half year of 2023 from RMB80.8
million in the same period of 2022. The increase was mainly
attributable to the growth of insurance brokerage services and
other new businesses.
- Loss from operations was RMB34.2
million (US$4.7 million) in
the first half year of 2023, compared with RMB90.5 million in the same period of 2022.
Operating loss margin was 5.9% in the first half year of 2023,
compared with 19.1% in the same period of 2022. The improvement of
loss from operations was mainly attributable to the increase in
revenues and the decrease in operating expenses resulting from
efficiency improvement and cost optimization.
- Net loss was RMB21.7 million
(US$3.0 million) in the first half
year of 2023, compared with RMB89.0
million in the same period of 2022. Net loss margin was 3.8%
in the first half year of 2023, compared with 18.8% in the same
period of 2022.
- Non-GAAP adjusted net loss[2] was RMB26.7 million (US$3.7
million) in the first half year of 2023, compared with
RMB82.9 million in the same period of
2022. Non-GAAP adjusted net loss margin[2] was 4.6% in
the first half year of 2023, compared with 17.5% in the same period
of 2022.
Mr. David Ye, Co-founder,
Chairman and Chief Executive Officer of Jianpu, commented, "Through
our capital-light platform model and diversified strategy, we
registered a solid year-over-year revenue growth of 7.7% while
making substantial progress approaching breakeven with a net loss
margin of 0.3% in the second quarter
of 2023. Despite macro headwinds, our commitment to the
digital transformation of financial service providers and ecosystem
partners has yielded fruitful results with impressive revenue
growth of our loan recommendation services and big data and
system-based services."
"Moreover, our relentless focus on enhancing operational
efficiency and optimizing cost structures brought us a remarkable
ROI[3] improvement. Through seamless integration of AI
technologies into our operations, we achieved heightened
productivity and substantial cost savings," concluded Mr. Ye.
"Our solid results in the second quarter of 2023 highlight our
continued strategic focus on achieving a diversified revenue structure, improving operational
efficiency and executing cost optimization initiatives. In the
second quarter of 2023, our revenue
growth was mainly attributable to
the increase in the loan recommendation,
the big data and system-based risk management
and marketing and other services[1], leading to a more balanced revenue
structure. Driven by our improved productivity and continued
cost optimization, we trimmed our Non-GAAP adjusted net
loss[2]
substantially by 77.3%
year-over-year to RMB7.3 million
(US$1.0 million) in the second
quarter of 2023," said Oscar Chen,
Chief Financial Officer of Jianpu.
Second Quarter 2023 Financial
Results
Total revenues for the second quarter of 2023 increased
by 7.7% to RMB285.5 million
(US$39.4 million) from RMB265.1 million in the same period of 2022. The
increase was mainly attributable to the increase in revenues from
big data and system-based risk management services and revenues
from marketing and other services[1], partially offset
by the decrease in the total revenues from recommendation
services.
Total revenues from recommendation services
decreased by 8.9% to RMB186.5 million (US$25.7 million) in the second quarter of
2023 from RMB204.7 million
in the same period of 2022.
Revenues from recommendation services for
credit cards decreased by 25.7% to RMB102.7 million (US$14.2 million) in the second quarter of
2023 from RMB138.2 million
in the same period of 2022. As certain credit card issuers lowered
their marketing budget in the second quarter of 2023, credit card
volume decreased by 25.0% to approximately
0.9 million in the second quarter of 2023 from
1.2 million in the same period of 2022. The average fee per
credit card was RMB113.5 (US$15.7) and RMB113.4 in the second quarter of
2023 and 2022, respectively.
Revenues from recommendation services for
loans increased by 26.0% to RMB83.8 million (US$11.6 million) in the second quarter of
2023 from RMB66.5 million
in the same period of 2022, primarily due to an increase in the
number of loan applications on the Company's platform. The
number of loan applications was approximately 5.5 million in
the second quarter of 2023, representing a 27.9% increase from
that in the same period of 2022. The average fee per loan
application was RMB15.2 (US$2.1)
and RMB15.4 in the second
quarters of 2023 and 2022, respectively.
Revenues from big data and system-based risk management
services increased by 23.2% to RMB28.1 million (US$3.9 million) in the second quarter of
2023 from RMB22.8 million
in the same period of 2022, primarily due to the increase in
average spending per customer.
Revenues from marketing and other services[1]
increased by 88.6% to RMB70.9 million (US$9.8 million) in the second quarter of
2023 from RMB37.6 million
in the same period of 2022, primarily due to the growth of the
Company's insurance brokerage services and other new
businesses.
Cost of promotion and acquisition was RMB190.4 million (US$26.3
million) in the second quarter of 2023, compared with
RMB191.8 million in the same
period of 2022. The change was primarily due to the decrease in
revenues from recommendation services for credit cards, partially
offset by the growth of the revenues from marketing and other
services.
Cost of operation decreased by 2.0% to RMB20.0 million (US$2.8
million) in the second quarter of 2023 from RMB20.4 million in the same period of 2022. The
decrease was primarily attributable to the decrease in software
development and maintenance costs, partially offset by the increase
in data acquisition costs related to the big data and system-based
risk management services.
Sales and marketing expenses decreased by 0.9%
to RMB 32.9 million (US$4.5 million) in the second quarter of 2023
from RMB33.2 million in the same
period of 2022. The decrease was primarily due to the decrease in
rental expenses and payroll expenses, partially offset by an
increase in client service-related expenses.
Research and development expenses decreased by 16.7%
to RMB24.4 million (US$3.4 million) in the second quarter of
2023 from RMB29.3 million
in the same period of 2022, primarily due to the decrease in
payroll expenses resulting from the Company's continued efforts in
cost optimization.
General and administrative expenses increased by
8.0% to RMB28.4 million
(US$3.9 million) in the second
quarter of 2023 from RMB26.3 million in the same period of 2022,
primarily due to an increase in allowance for credit
losses.
Loss from operations was RMB10.6
million (US$1.5 million) in
the second quarter of 2023, compared with RMB35.9 million in the same period of 2022.
Operating loss margin was 3.7% in the second quarter of 2023,
compared with 13.5% in the same period of 2022. The decrease in
operating loss was mainly attributable to the increase in revenues
and the decrease in operating expenses resulting from efficiency
improvement and cost optimization.
Others, net increased by 478.6% to
RMB8.1 million (US$1.1 million) in the second quarter of
2023 from RMB1.4 million in
the same period of 2022. The Company recognized an investment
gain of RMB7.1 million resulting from
the deconsolidation of one of its subsidiaries[4] in the
second quarter of 2023; while the Company recognized an
impairment loss of RMB7.8
million on equity investments and an investment
gain of RMB6.1 million resulting from
the deconsolidation of another subsidiary[4] in the same
period of 2022.
Net loss was RMB0.9 million
(US$0.1 million) in the second
quarter of 2023 compared with RMB35.9
million in the same period of 2022. Net loss margin was 0.3%
in the second quarter of 2023, compared with 13.5% in the same
period of 2022.
Non-GAAP adjusted net loss[2], which
excluded share-based compensation expenses, investment impairment
loss and investment gain of deconsolidation of subsidiaries, was
RMB7.3 million (US$1.0 million) in the second quarter of 2023,
compared with RMB32.2 million in the
same period of 2022. Non-GAAP adjusted net loss
margin[2] was 2.6% in the second quarter of 2023
compared with 12.1% in the same period of 2022.
Non-GAAP adjusted EBITDA[5], which excluded
share-based compensation expenses, investment impairment loss,
investment gain of deconsolidation of subsidiaries, depreciation
and amortization, interest income and expenses, and income tax
benefits from net loss, for the second quarter of 2023 was a loss
of RMB7.8 million (US$1.1 million), compared with a loss of
RMB29.4 million in the same period of
2022.
As of June 30, 2023, the Company
had cash and cash equivalents and restricted cash and time deposits
of RMB668.5 million (US$92.2 million), and working capital of
approximately RMB357.6 million
(US$49.3 million). Compared to those
as of December 31, 2022, cash and
cash equivalents and restricted cash and time deposits decreased by
RMB15.7 million, which was primarily
attributable to net cash used in the operating activities.
First Half Year 2023 Financial
Results
Total revenues for the first half year of 2023 increased
by 21.6% to RMB574.9 million
(US$79.3 million) from RMB472.6 million in the same period of 2022. The
increase was mainly attributable to the increase in revenues from
marketing and other services[1].
Total revenues from recommendation services
increased by 7.6% to RMB375.2 million (US$51.7 million) in the first half year of
2023 from RMB348.8 million
in the same period of 2022.
Revenues from recommendation services for
credit cards slightly decreased by 2.6% to
RMB229.7 million (US$31.7 million) in the first half year of
2023 from RMB235.8 million
in the same period of 2022. As certain credit card issuers
lowered their marketing budget in the second quarter of
2023, credit card volume in the first half year of
2023 decreased by 4.8% to approximately 2.0 million from 2.1
million in the same period of 2022. The average fee per credit card
were RMB113.9 (US$15.7) and RMB111.3 in the first half years of
2023 and 2022, respectively.
Revenues from recommendation services for
loans increased by 28.6% to RMB145.5 million (US$20.1 million) in the first half year of
2023 from RMB113.1 million
in the same period of 2022, primarily due to
the increases in both the number of loan applications on
our platform and the average fee per loan
application. The number of loan applications was approximately
9.7 million in the first half year of 2023, representing an 18.3%
increase from that in the same period of 2022. The average fee
per loan application increased to RMB15.0 (US$2.1) in the first half year of
2023 from RMB13.6 in the
same period of 2022.
Revenues from big data and system-based risk management
services increased by 17.9% to RMB50.7 million (US$7.0 million) in the first half year of
2023 from RMB43.0 million
in the same period of 2022, primarily due to the increase in
average spending per customer.
Revenues from marketing and other services[1]
increased by 84.4% to RMB149.0
million (US$20.5 million) in
the first half year of 2023 from RMB80.8
million in the same period of 2022, primarily due to the
growth of the Company's insurance brokerage services and other new
businesses.
Cost of promotion and acquisition increased by 17.6%
to RMB401.5 million (US$55.4 million) in the first half year of 2023
from RMB341.3 million in the same
period of 2022, primarily due to the growth of the Company's
revenues from marketing and other services.
Cost of operation was RMB38.4
million (US$5.3 million) in
the first half year of 2023, which was relatively stable compared
with RMB38.9 million in the same
period of 2022.
Sales and marketing expenses decreased by
3.4% to RMB64.7 million
(US$8.9 million) in the first
half year of 2023 from RMB67.0
million in the same period of 2022. The decrease was
primarily due to the decreases in payroll expenses, rental expenses
and marketing and advertising expenses, partially offset by an
increase in client service-related expenses.
Research and development expenses decreased by
15.9% to RMB49.7 million
(US$6.9 million) in the first half
year of 2023 from RMB59.1 million in the same period of 2022,
primarily due to the decreases in payroll expenses and rental
expenses resulting from our continued efforts in cost
optimization.
General and administrative expenses decreased by
3.3% to RMB54.9 million
(US$7.6 million) in the first
half year of 2023 from RMB56.8 million in the same period of 2022,
primarily due to the decreases in allowance for credit losses,
payroll expenses and rental expenses, partially offset by
an increase in professional fee.
Loss from operations was RMB34.2
million (US$4.7 million) in
the first half year of 2023, compared with RMB90.5 million in the same period of 2022.
Operating loss margin was 5.9% in the first half year of 2023,
compared with 19.1% in the same period of 2022. The decrease in
operating loss was mainly attributable to the increase in revenues
and the decrease in operating expenses resulting from efficiency
improvement and cost optimization.
Others,
net increased by 145.2% to RMB10.3 million (US$1.4 million) in the first half year of
2023 from RMB4.2 million in
the same period of 2022. The Company recognized an investment gain
of RMB7.1 million resulting from the
deconsolidation of one of its subsidiaries[4] in the
first half year of 2023; while the Company recognized an impairment
loss of RMB7.8 million
on equity investments and an investment gain of
RMB6.1 million resulting from the
deconsolidation of another subsidiary[4] in the first half year of
2022.
Net loss was RMB21.7
million (US$3.0 million) in
the first half year of 2023 compared with RMB89.0 million in the same period of 2022. Net
loss margin was 3.8% in the first half year of 2023 compared with
18.8% in the same period of 2022.
Non-GAAP adjusted net loss[2], which excluded
share-based compensation expenses, investment impairment loss and
investment gain of deconsolidation of subsidiaries, was
RMB26.7 million (US$3.7 million) in the first half year of 2023,
compared with RMB82.9 million in the
same period of 2022. Non-GAAP adjusted net loss
margin[2] was 4.6% in the first half year of 2023
compared with 17.5% in the same period of 2022.
Non-GAAP adjusted EBITDA[5], which excluded
share-based compensation expenses, investment impairment loss,
investment gain of deconsolidation of subsidiaries, depreciation
and amortization, interest income and expenses, and income tax
benefits from net loss, for the first half year of 2023 was a loss
of RMB26.7 million (US$3.7 million), compared with a loss of
RMB77.5 million in the same period of
2022.
Conference Call
The Company's management will host an earnings conference call
at 8:00 AM U.S. Eastern Time on
August 21, 2023 (8:00 PM Beijing/Hong Kong Time on August 21, 2023).
Dial-in details for the earnings conference call are as
follows:
United States (toll
free):
|
1-888-346-8982
|
International:
|
1-412-902-4272
|
Hong Kong, China (toll
free):
|
800-905-945
|
Hong Kong,
China:
|
852-3018-4992
|
Mainland
China:
|
400-120-1203
|
Participants should dial-in at least 5 minutes before the
scheduled start time and ask to be connected to the call for
"Jianpu Technology Inc."
Additionally, a live and archived webcast of the conference call
will be available on the Company's investor relations website
at http://ir.jianpu.ai.
A replay of the conference call will be accessible approximately
one hour after the conclusion of the live call until August 28, 2023, by dialing the following
telephone numbers:
United States (toll
free):
|
1-877-344-7529
|
International:
|
1-412-317-0088
|
Replay Access
Code:
|
4076828
|
About Jianpu Technology Inc.
Jianpu Technology Inc. is a leading independent open platform
for the discovery and recommendation of financial products in
China. The Company connects users
with financial service providers in a convenient, efficient, and
secure way. By leveraging its proprietary technology, Jianpu
provides users with customized search results and recommendations
tailored to each user's particular financial needs and profile. The
Company also enables financial service providers with sales and
marketing solutions to reach and serve their target customers more
effectively through integrated channels and enhance their
competitiveness by providing them with tailored data, risk
management services and solutions. The Company is committed to
maintaining an independent open platform, which allows it to serve
the needs of users and financial service providers impartially. For
more information, please visit http://ir.jianpu.ai.
Use of Non-GAAP Financial Measures
The Company uses adjusted EBITDA and adjusted net (loss)/income,
each a Non-GAAP financial measure, in evaluating its operating
results and for financial and operational decision-making
purposes.
The Company believes that adjusted EBITDA and adjusted net
(loss)/income help identify underlying trends in its business that
could otherwise be distorted by the effect of the expenses and
gains that the Company include in (loss)/income from operations and
net (loss)/income. The Company believes that adjusted EBITDA and
adjusted net (loss)/income provide useful information about its
operating results, enhance the overall understanding of its past
performance and future prospects and allow for greater visibility
with respect to key metrics used by its management in its financial
and operational decision-making.
Adjusted EBITDA and adjusted net (loss)/income should not be
considered in isolation or construed as alternatives to net
(loss)/income or any other measure of performance or as indicators
of the Company's operating performance. Investors are encouraged to
review the historical Non-GAAP financial measures to the most
directly comparable GAAP measures. Adjusted EBITDA and adjusted net
(loss)/income presented here may not be comparable to similarly
titled measures presented by other companies. Other companies may
calculate similarly titled measures differently, limiting their
usefulness as comparative measures to the Company's data. The
Company encourages investors and others to review its financial
information in its entirety and not rely on a single financial
measure.
Adjusted EBITDA represents EBITDA before share-based
compensation expenses, investment impairment loss and investment
gain of deconsolidation of subsidiaries. EBITDA represents net
(loss)/income before interest, tax, depreciation and
amortization.
Adjusted net (loss)/income represents net (loss)/income before
share-based compensation expenses, investment impairment loss and
investment gain of deconsolidation of subsidiaries.
For more information on this Non-GAAP financial measure, please
see the table captioned "Unaudited Reconciliations of GAAP and
Non-GAAP results" set forth at the end of this press release.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of 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," "confident" and similar statements.
Statements that are not historical facts, including statements
about the Company's beliefs and expectations, are forward-looking
statements. Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: the
Company's goals and strategies; the Company's future business
development, financial condition and results of operations; the
Company's expectations regarding demand for, and market acceptance
of, its solutions and services; the Company's expectations
regarding keeping and strengthening its relationships with users,
financial service providers and other parties it collaborates with;
trends, competition and regulatory policies relating to the
industries the Company operates in; general economic and business
conditions globally and in China;
and assumptions underlying or related to any of the foregoing.
Further information regarding these and other risks is included in
the Company's filings with the SEC. All information provided in
this press release and in the attachments is as of the date of this
press release, and the Company undertakes no obligation to update
any forward-looking statement, except as required under applicable
law.
For investor and media inquiries, please
contact:
In China:
Jianpu Technology Inc.
(IR) Liting Lu, E-mail:
IR@rong360.com
(PR) Amanda Hu, E-mail:
Media@rong360.com
Tel: +86 (10) 6242 7068
Christensen
Suri Cheng, E-mail:
suri.cheng@christensencomms.com
Tel: +86 185 0060 8364
Crystal Lai, E-mail:
crystal.lai@christensencomms.com
Tel: +852 2232 3907
In US:
Christensen
Linda Bergkamp, E-mail:
linda.bergkamp@christensencomms.com
Tel: +1 480 353 6648
Jianpu Technology Inc.
|
Unaudited Condensed
Consolidated Balance Sheets
|
|
(In
thousands)
|
As of December
31,
|
|
As of June
30,
|
2022
|
|
2023
|
RMB
|
|
RMB
|
|
US$
|
ASSETS
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
Cash
and cash equivalents
|
346,539
|
|
316,601
|
|
43,661
|
Restricted time deposits
|
297,634
|
|
308,796
|
|
42,585
|
Accounts receivable, net
|
189,665
|
|
206,378
|
|
28,461
|
Amount due from related parties
|
153
|
|
158
|
|
22
|
Prepayments and other current assets
|
46,537
|
|
42,574
|
|
5,871
|
Total current
assets
|
880,528
|
|
874,507
|
|
120,600
|
Non-current
assets:
|
|
|
|
|
|
Property and equipment, net
|
12,578
|
|
13,126
|
|
1,810
|
Intangible assets, net
|
18,339
|
|
19,888
|
|
2,743
|
Restricted cash and time deposits
|
40,059
|
|
43,130
|
|
5,948
|
Other non-current assets
|
10,758
|
|
13,364
|
|
1,843
|
Total non-current
assets
|
81,734
|
|
89,508
|
|
12,344
|
Total
assets
|
962,262
|
|
964,015
|
|
132,944
|
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
Short-term borrowings
|
253,481
|
|
253,209
|
|
34,919
|
Accounts
payable (including amounts billed through
related party of RMB5,652
and RMB3,122 as of December
31, 2022 and June 30, 2023, respectively)
|
96,729
|
|
125,388
|
|
17,292
|
Advances from customers
|
46,920
|
|
45,489
|
|
6,273
|
Tax
payable
|
9,662
|
|
10,372
|
|
1,430
|
Amount due to related parties
|
13,534
|
|
10,208
|
|
1,408
|
Accrued expenses and other current liabilities
|
88,871
|
|
72,202
|
|
9,957
|
Total current
liabilities
|
509,197
|
|
516,868
|
|
71,279
|
Non-current
liabilities:
|
|
|
|
|
|
Deferred tax liabilities
|
3,644
|
|
3,496
|
|
482
|
Other non-current liabilities
|
13,096
|
|
12,542
|
|
1,731
|
Total non-current
liabilities
|
16,740
|
|
16,038
|
|
2,213
|
Total
liabilities
|
525,937
|
|
532,906
|
|
73,492
|
Shareholders'
equity:
|
|
|
|
|
|
Ordinary shares
|
286
|
|
286
|
|
39
|
Treasury stock, at cost
|
(77,499)
|
|
(74,671)
|
|
(10,298)
|
Additional paid-in capital
|
1,891,266
|
|
1,890,548
|
|
260,718
|
Accumulated losses
|
(1,424,153)
|
|
(1,445,349)
|
|
(199,323)
|
Statutory reserves
|
2,027
|
|
2,027
|
|
280
|
Accumulated other comprehensive income
|
37,941
|
|
57,985
|
|
7,997
|
Total Jianpu's
shareholders' equity
|
429,868
|
|
430,826
|
|
59,413
|
Noncontrolling interests
|
6,457
|
|
283
|
|
39
|
Total shareholders'
equity
|
436,325
|
|
431,109
|
|
59,452
|
Total liabilities
and shareholders' equity
|
962,262
|
|
964,015
|
|
132,944
|
Jianpu Technology Inc.
|
Unaudited Condensed
Consolidated Statements of Comprehensive Loss
|
|
(In thousands
except for number of shares and per
share data)
|
|
For the Three Months
Ended June 30,
|
|
For the Six Months
Ended June 30,
|
|
2022
|
2023
|
|
2022
|
2023
|
|
RMB
|
RMB
|
US$
|
|
RMB
|
RMB
|
US$
|
|
|
|
|
|
|
|
|
|
Revenues:
|
|
|
|
|
|
|
|
|
Recommendation
services:
|
|
|
|
|
|
|
|
|
Loans
[a]
|
|
66,520
|
83,849
|
11,563
|
|
113,072
|
145,479
|
20,062
|
Credit
cards
|
|
138,188
|
102,687
|
14,161
|
|
235,775
|
229,693
|
31,676
|
Total recommendation
services
|
|
204,708
|
186,536
|
25,724
|
|
348,847
|
375,172
|
51,738
|
Big data and
system-based risk
management services [b]
|
|
22,788
|
28,093
|
3,874
|
|
43,017
|
50,740
|
6,997
|
Marketing and other
services [b] [1]
|
|
37,568
|
70,904
|
9,778
|
|
80,758
|
149,009
|
20,549
|
Total
revenues
|
|
265,064
|
285,533
|
39,376
|
|
472,622
|
574,921
|
79,284
|
Costs and
expenses:
|
|
|
|
|
|
|
|
|
Cost of promotion and
acquisition [c]
|
|
(191,767)
|
(190,445)
|
(26,264)
|
|
(341,288)
|
(401,498)
|
(55,369)
|
Cost of operation
[d]
|
|
(20,432)
|
(19,962)
|
(2,753)
|
|
(38,908)
|
(38,353)
|
(5,289)
|
Total cost of
services
|
|
(212,199)
|
(210,407)
|
(29,017)
|
|
(380,196)
|
(439,851)
|
(60,658)
|
Sales and marketing
expenses
|
|
(33,160)
|
(32,936)
|
(4,542)
|
|
(67,022)
|
(64,690)
|
(8,921)
|
Research and
development expenses [e]
|
|
(29,303)
|
(24,368)
|
(3,361)
|
|
(59,068)
|
(49,700)
|
(6,854)
|
General and
administrative expenses
|
|
(26,283)
|
(28,442)
|
(3,922)
|
|
(56,831)
|
(54,879)
|
(7,568)
|
Loss from
operations
|
|
(35,881)
|
(10,620)
|
(1,466)
|
|
(90,495)
|
(34,199)
|
(4,717)
|
Net interest
expenses
|
|
(1,583)
|
1,531
|
211
|
|
(2,904)
|
2,034
|
281
|
Others, net
|
|
1,398
|
8,067
|
1,112
|
|
4,171
|
10,295
|
1,420
|
Loss before income
tax
|
|
(36,066)
|
(1,022)
|
(143)
|
|
(89,228)
|
(21,870)
|
(3,016)
|
Income tax
benefits
|
|
124
|
81
|
11
|
|
249
|
162
|
22
|
Net loss
|
|
(35,942)
|
(941)
|
(132)
|
|
(88,979)
|
(21,708)
|
(2,994)
|
Less:
net income/(loss)
attributable to
noncontrolling interests
|
|
(1,087)
|
152
|
21
|
|
(2,406)
|
(512)
|
(71)
|
Net loss
attributable to Jianpu
Technology Inc.
|
|
(34,855)
|
(1,093)
|
(153)
|
|
(86,573)
|
(21,196)
|
(2,923)
|
Accretion of mezzanine
equity
|
|
(8,740)
|
-
|
-
|
|
(8,740)
|
-
|
-
|
Net loss
attributable to Jianpu's
shareholders
|
|
(43,595)
|
(1,093)
|
(153)
|
|
(95,313)
|
(21,196)
|
(2,923)
|
|
|
|
|
|
|
|
|
|
Other comprehensive
income
|
|
|
|
|
|
|
|
|
Foreign currency
translation adjustments
|
|
32,181
|
27,177
|
3,748
|
|
29,386
|
20,018
|
2,761
|
Total other
comprehensive income
|
|
32,181
|
27,177
|
3,748
|
|
29,386
|
20,018
|
2,761
|
Total
comprehensive income/(loss)
|
|
(3,761)
|
26,236
|
3,616
|
|
(59,593)
|
(1,690)
|
(233)
|
Less: total
comprehensive
income/(loss) attributable to
noncontrolling interests
|
|
(982)
|
154
|
21
|
|
(2,237)
|
(538)
|
(74)
|
Total
comprehensive income/(loss)
attributable to Jianpu Technology
Inc.
|
|
(2,779)
|
26,082
|
3,595
|
|
(57,356)
|
(1,152)
|
(159)
|
Accretion of mezzanine
equity
|
|
(8,740)
|
-
|
-
|
|
(8,740)
|
-
|
-
|
Total
comprehensive income/(loss) attributable to
Jianpu's
shareholders
|
|
(11,519)
|
26,082
|
3,595
|
|
(66,096)
|
(1,152)
|
(159)
|
|
|
|
|
|
|
|
|
|
Net
loss per share attributable to
Jianpu's shareholders
|
|
|
|
|
|
|
|
|
Basic
|
|
(0.10)
|
-
|
-
|
|
(0.22)
|
(0.05)
|
(0.01)
|
Diluted
|
|
(0.10)
|
-
|
-
|
|
(0.22)
|
(0.05)
|
(0.01)
|
Net loss per
ADS attributable to
Jianpu's shareholders
|
|
|
|
|
|
|
|
|
Basic
|
|
(2.06)
|
(0.05)
|
(0.01)
|
|
(4.50)
|
(1.00)
|
(0.14)
|
Diluted
|
|
(2.06)
|
(0.05)
|
(0.01)
|
|
(4.50)
|
(1.00)
|
(0.14)
|
Weighted average
number of shares
|
|
|
|
|
|
|
|
|
Basic
|
|
423,707,654
|
424,587,819
|
424,587,819
|
|
423,692,650
|
424,521,907
|
424,521,907
|
Diluted
|
|
423,707,654
|
424,587,819
|
424,587,819
|
|
423,692,650
|
424,521,907
|
424,521,907
|
|
[a] Including revenues from related
party of RMB117 and RMB383 for the three months ended June 30,
2022 and 2023, respectively, and RMB134 and RMB709 for the six
months ended June 30, 2022 and 2023,
respectively.
|
[b] Including revenues from related
party of RMB1,160 and RMB815 for the three months ended June
30, 2022 and 2023, respectively, and RMB2,332 and
RMB1,628 for the six months ended June 30, 2022 and 2023,
respectively.
|
[c] Including cost of promotion and
acquisition from related party of RMB140 and nil for the three
months ended June 30, 2022 and 2023, respectively, and RMB140
and RMB8 for the six months ended June 30, 2022 and 2023,
respectively.
|
[d] Including cost of operation from
related party of RMB97 and RMB295 for the three months ended
June 30, 2022 and 2023, respectively, and RMB208 and RMB471 for the
six months ended June 30, 2022 and 2023,
respectively.
|
[e] Including expenses from related
party of RMB251 and RMB256 for the three months ended June 30,
2022 and 2023, respectively, and RMB367 and RMB256 for the six
months ended June 30, 2022 and 2023, respectively.
|
Jianpu Technology Inc.
|
Unaudited Reconciliations of GAAP and
Non-GAAP Results
|
|
(In
thousands)
|
|
For the Three Months
Ended June 30,
|
|
For the Six Months
Ended June 30,
|
|
2022
|
2023
|
|
2022
|
2023
|
|
RMB
|
RMB
|
US$
|
|
RMB
|
RMB
|
US$
|
Net loss
|
|
(35,942)
|
(941)
|
(132)
|
|
(88,979)
|
(21,708)
|
(2,994)
|
Add: Share-based
compensation expenses
|
|
2,118
|
709
|
98
|
|
4,439
|
2,086
|
288
|
Investment impairment
loss
|
|
7,823
|
-
|
-
|
|
7,823
|
-
|
-
|
Investment gain of deconsolidation of
subsidiaries[4]
|
|
(6,149)
|
(7,057)
|
(973)
|
|
(6,149)
|
(7,057)
|
(973)
|
Non-GAAP adjusted
net loss[2]
|
|
(32,150)
|
(7,289)
|
(1,007)
|
|
(82,866)
|
(26,679)
|
(3,679)
|
Add: Depreciation and
amortization
|
|
1,289
|
1,134
|
156
|
|
2,724
|
2,216
|
306
|
Net interest
expenses
|
|
1,583
|
(1,531)
|
(211)
|
|
2,904
|
(2,034)
|
(281)
|
Income tax
benefits
|
|
(124)
|
(81)
|
(11)
|
|
(249)
|
(162)
|
(22)
|
Non-GAAP adjusted
EBITDA[5]
|
|
(29,402)
|
(7,767)
|
(1,073)
|
|
(77,487)
|
(26,659)
|
(3,676)
|
[1] Starting
from the fourth quarter of 2022, the Company updated the
description of its revenue stream "advertising, marketing and other
services" to "marketing and other services", to provide more
relevant and clear information. It also updated the revenue
description in comparative periods to conform to the current
classification.
|
[2] Non-GAAP
adjusted net loss represents net loss before share-based
compensation expenses, investment impairment loss and investment
gain of deconsolidation of subsidiaries. There is no income tax
impact of the Non-GAAP adjustment of share-based compensation
expenses, investment impairment loss and investment gain of
deconsolidation of subsidiaries. See "Unaudited Reconciliations of
GAAP and Non-GAAP Results" at the end of this press release for
more details about Non-GAAP adjusted net loss. Non-GAAP adjusted
net loss margin equals Non-GAAP adjusted net loss divided by total
revenues.
|
[3] ROI
represents revenue of recommendation services, advertising and
marketing services and other services divided by cost of promotion
and acquisition.
|
[4] In May
2023, the Group (Jianpu, its subsidiaries, and VIEs together are
referred to as the "Group".) entered into a share transfer
agreement with the founder and minority shareholder of Newsky
Wisdom Treasure (Beijing) Co., Ltd. ("Newsky Wisdom"), which is one
of the subsidiaries of the Group before the completion of the share
transfer. During the second quarter of 2023, according to the share
transfer agreement, the Group transferred 35.5% shares to the
founder of Newsky Wisdom and consequently became a minority
shareholder of Newsky Wisdom, and the Group no longer has control
over Newsky Wisdom. The investment gain of RMB7.1 million was
recognized in the second quarter of 2023 accordingly.
|
In June 2022, Databook
Tech Ltd ("Databook"), one of the Company's subsidiaries, made a
cash distribution to its shareholders, through which the Company
received a portion of the cash distribution. Databook also issued
additional shares to one minority shareholder and changed the
Company's board seat in Databook to one director. The Company
consequently became a minority shareholder of Databook and no
longer has control over Databook. The investment gain of RMB6.1
million was realized in the second quarter of 2022, and RMB17.0
million was realized in the fourth quarter of 2022.
|
[5] Non-GAAP
adjusted EBITDA represents EBITDA before share-based compensation
expenses, investment impairment loss and investment gain of
deconsolidation of subsidiaries. EBITDA represents net
(loss)/income before interest income and expenses, income tax
benefits from net loss and depreciation and amortization. See
"Unaudited Reconciliations of GAAP and Non-GAAP Results" for more
details.
|
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content:https://www.prnewswire.com/news-releases/jianpu-technology-inc-reports-second-quarter-2023-unaudited-financial-results-301905512.html
SOURCE Jianpu Technology Inc.