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 August 2019

 


 

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  x    Form 40-F o

 

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): o

 

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): o

 

 

 


 

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: August 1, 2019

 

 

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Exhibit Index

 

Exhibit 99.1—Press Release

 

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Exhibit 99.1

 

Pintec Files Its Annual Report on Form 20-F With Adjustments to Its Financial Results

 

BEIJING, July 31, 2019 (GLOBE NEWSWIRE) — Pintec Technology Holdings Limited (Nasdaq: PT) (“PINTEC” or the “Company”), a leading independent technology platform enabling financial services in China, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2018 with the U.S. Securities and Exchange Commission on July 30, 2019, Eastern Time.

 

Certain adjustments were made in the Company’s consolidated financial statements for the fiscal year ended December 31, 2018, subsequent to the release of the full year 2018 unaudited annual results in March 2019.

 

In May 2019, the Company waived the interests accrued on a loan to a third party after the third party repaid the outstanding loan principal in full. As a result, the following items in the Company’s condensed consolidated statements of operations and comprehensive (loss)/income statement for the fiscal year ended December 31, 2018 were adjusted:

 

 

 

Pre-adjustment

 

Post-adjustment

 

 

 

RMB

 

US$

 

RMB

 

US$

 

 

 

(in thousands)

 

Share of loss from equity method investments

 

(2,967

)

(432

)

(2,652

)

(386

)

Other income, net

 

14,317

 

2,082

 

8,822

 

1,283

 

Income before income tax expenses

 

13,059

 

1,899

 

7,880

 

1,146

 

Net income

 

7,350

 

1,068

 

2,171

 

315

 

Total comprehensive income

 

37,523

 

5,456

 

32,344

 

4,703

 

Non-GAAP adjusted net income

 

138,610

 

20,159

 

133,431

 

19,406

 

 

Due to the Company’s reclassification of certain items according to their nature, the following items in the Company’s condensed consolidated balance sheet for the fiscal year ended December 31, 2018 were adjusted:

 

 

 

Pre-adjustment

 

Post-adjustment

 

 

 

RMB

 

US$

 

RMB

 

US$

 

 

 

(in thousands)

 

Short-term financing receivables, net

 

734,475

 

106,825

 

742,117

 

107,936

 

Prepayments and other current assets

 

261,567

 

38,043

 

229,008

 

33,308

 

Amounts due from related parties

 

472,926

 

68,784

 

475,426

 

69,148

 

Total current assets

 

2,237,713

 

325,461

 

2,215,296

 

322,201

 

Total assets

 

2,390,443

 

347,674

 

2,368,026

 

344,414

 

Accrued expenses and other liabilities

 

175,853

 

25,577

 

157,462

 

22,902

 

Total current liabilities

 

1,297,741

 

188,747

 

1,280,504

 

186,241

 

Total liabilities

 

1,327,987

 

193,146

 

1,310,750

 

190,640

 

Total invested shareholders’ equity

 

1,062,456

 

154,528

 

1,057,276

 

153,774

 

Total liabilities and invested shareholders’ equity

 

2,390,443

 

347,674

 

2,368,026

 

344,414

 

 


 

The annual report can be accessed on the Company’s investor relations website at http://ir.pintec.com/. The Company will provide hard copies of the annual report, free of charge, to its shareholders and ADS holders upon request. Requests should be directed to Investor Relations, Pintec Technology Holdings Limited, 9/F Heng An Building, No. 17 East 3rd Ring Road, Chaoyang District, Beijing, People’s Republic of China.

 

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, enhances 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.

 

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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 RMB6.8755 to US$1.00, the noon buying rate in effect on December 31, 2018, 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. Such statements are based upon management’s current expectations 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. Further information 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.

 

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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 point-of-sale financing, personal installment loans and business installment loans, 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, peer-to-peer platforms and other similar institutions. For more information, please visit ir.pintec.com.

 

Investor Relations Contact

 

Joyce Tang
Pintec Technology Holdings Ltd.
Phone: +1-646-308-1622
E-mail:ir@pintec.com

 

Jack Wang
ICR Inc.
Phone: +1-646-308-1622
E-mail: pintec@icrinc.com

 

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