Jianpu Technology Reports Q4 2023 Financial Results

TL;DR

Jianpu Tech dropped Q4 2023 earnings, check the numbers for China's financial product platform.

AI Summary

Jianpu Technology Inc. (OTC: AIJTY) announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2023, on March 13, 2024. The company, a leading independent open platform for financial product discovery and recommendation in China, provided an update on its operational and financial highlights for the period.

Why It Matters

This filing provides investors with the latest financial performance data for Jianpu Technology, a key player in China's financial product discovery market, allowing for assessment of its recent business trajectory.

Risk Assessment

Risk Level: low — This is a routine earnings release filing, which typically carries a low risk of immediate market-moving information beyond the reported results.

Key Players & Entities

• Jianpu Technology Inc. (company) — Filer and subject of the report
• OTC: AIJTY (company) — Stock ticker symbol
• March 13, 2024 (date) — Date of the announcement and filing
• December 31, 2023 (date) — End of the fiscal year and reporting period

FAQ

Key Financial Figures

• $25.1 million — ncreased by 3.9% to RMB178.0 million (US$25.1 million) from RMB171.3 million in the same peri
• $13.4 million — ncreased by 51.7% to RMB95.4 million (US$13.4 million) in the fourth quarter of 2023 from RMB
• $11.6 million — ecreased by 23.7% to RMB82.7 million (US$11.6 million) in the fourth quarter of 2023 from RMB
• $2.3 million — ecreased by 42.9% to RMB16.5 million (US$2.3 million) in the fourth quarter of 2023 from RMB
• $6.2 million — decreased by 7.5% to RMB44.4 million (US$6.2 million) in the fourth quarter of 2023 from RMB
• $1.4 million — s from operations was RMB9.6 million (US$1.4 million) in the fourth quarter of 2023, compare
• $0.1 million — iddot; Net income was RMB1.1 million (US$0.1 million) in the fourth quarter of 2023, compare
• $0.5 million — usted net loss 2 was RMB3.4 million (US$0.5 million) in the fourth quarter of 2023, compare
• $104.9 million — dation services was RMB744.4 million (US$104.9 million) in the fiscal year of 2023, compared w
• $48.4 million — creased by 33.2% to RMB343.8 million (US$48.4 million) in the fiscal year of 2023 from RMB258
• $56.4 million — creased by 15.4% to RMB400.6 million (US$56.4 million) in the fiscal year of 2023 from RMB473
• $12.1 million — ecreased by 11.1% to RMB86.1 million (US$12.1 million) in the fiscal year of 2023, compared w
• $33.6 million — creased by 48.4% to RMB238.9 million (US$33.6 million) in the fiscal year of 2023 from RMB161
• $7.4 million — from operations was RMB52.5 million (US$7.4 million) in the fiscal year of 2023, compared w
• $3.8 million — middot; Net loss was RMB27.0 million (US$3.8 million) in the fiscal year of 2023, compared w

Filing Documents

• tm248729d1_6k.htm (6-K) — 261KB
• 0001104659-24-033723.txt ( ) — 262KB

From the Filing

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 March 2024 Commission File Number: 001-38278 Jianpu Technology Inc. 5F Times Cyber Building, 19 South Haidian Road Haidian 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 Jianpu Technology Inc. Reports Fourth Quarter 2023 Unaudited Financial Results Beijing, March 13, 2024 -- Jianpu Technology Inc. (“Jianpu,” or the “Company”) (OTC: AIJTY), a leading independent open platform for the discovery and recommendation of financial products in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2023. Fourth Quarter 2023 Operational and Financial Highlights: · Revenues from recommendation services for the fourth quarter of 2023 increased by 3.9% to RMB178.0 million (US$25.1 million) from RMB171.3 million in the same period of 2022. Revenues from recommendation services for loans increased by 51.7% to RMB95.4 million (US$13.4 million) in the fourth quarter of 2023 from RMB62.9 million in the same period of 2022, primarily due to the increase in the number of loan applications and the increase in average fee per loan application. Revenues from recommendation services for credit cards decreased by 23.7% to RMB82.7 million (US$11.6 million) in the fourth quarter of 2023 from RMB108.4 million in the same period of 2022, primarily due to the decrease in the credit card volume. · Revenues from big data and system-based risk management services decreased by 42.9% to RMB16.5 million (US$2.3 million) in the fourth quarter of 2023 from RMB28.9 million in the same period of 2022, primarily due to the deconsolidation of Newsky Wisdom Treasure (Beijing) Co., Ltd (“Newsky Wisdom”) in the second quarter of 2023. The decline was also caused by a gradual shift of our business model of data-based risk management services towards cooperation with licensed credit reporting agencies. · Revenues from marketing and other services 1 decreased by 7.5% to RMB44.4 million (US$6.2 million) in the fourth quarter of 2023 from RMB48.0 million in the same period of 2022. The decrease was primarily due to the decrease of the Company’s insurance brokerage services, partially offset by the growth of other new business initiatives. · Loss from operations was RMB9.6 million (US$1.4 million) in the fourth quarter of 2023, compared with RMB29.6 million in the same period of 2022. Operating loss margin was 4.0% in the fourth quarter of 2023, compared with 11.9% in the same period of 2022. The improvement of loss from operations was mainly attributable to the decrease in costs and expenses resulting from efficiency improvement and cost optimization. · Net income was RMB1.1 million (US$0.1 million) in the fourth quarter of 2023, compared with net loss of RMB20.2 million in the same period of 2022. Net income margin was 0.4% in the fourth quarter of 2023, compared with net loss margin of 8.1% in the same period of 2022. 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 2 was RMB3.4 million (US$0.5 million) in the fourth quarter of 2023, compared with RMB27.9 million in the same period of 2022. Non-GAAP adjusted net loss margin 2 was 1.4% in the fourth quarter of 2023, compared with 11.2% in the same period of 2022. Fiscal Year 2023 Operational and Financial Highlights: · Revenues from recommendation services was RMB744.4 million (US$104.9 million) in the fiscal year of 2023, compared with RMB731.7 million in 2022. Revenues from recommendation services for loans increased by 33.2% to RMB343.8 million (US$48.4 million) in the fiscal year of 2023 from RMB258.1 million in 2022, primarily due to the increase in the number of loan applications. Revenues from recommendation services for credit cards decreased by 15.4% to RMB400.6 million (US$56.4 million) in the fiscal year of 2023 from RMB473.7 million in 2022, primarily due to the decrease in the credit card volume. · Revenues from big data and system-based risk management services decreased by 11.1% to RMB86.1 million (US$12.1 million) in the fiscal year of 2023, compared with RMB96.9 million in 2022. The decrease was primarily due to the deconsolidation of Newsky Wisdom in the second quart

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