Welcome to our dedicated page for Jianpu Technology news (Ticker: JT), a resource for investors and traders seeking the latest updates and insights on Jianpu Technology stock.
Jianpu Technology Inc. (NYSE: JT) is a leading independent open platform for the discovery and recommendation of financial products in China. Established in 2011 and headquartered in Beijing, the company operates under the Rong360 brand name. Jianpu's platform facilitates access to a wide range of financial products, including consumer and other loans, credit cards, and wealth management products. The platform connects individual users with financial service providers, leveraging big data to match user profiles with suitable financial products.
Jianpu offers sales and marketing solutions, big data risk management, and integrated services primarily to financial service providers. These solutions help providers target users with specific financial needs, thereby improving the efficiency and effectiveness of their offerings. The company is committed to the digital transformation of financial services and ecosystem partners, integrating AI technologies to enhance productivity and achieve cost savings.
In its recent financial performance, Jianpu reported a solid year-over-year revenue growth of 7.7% in the second quarter of 2023. The company’s diversified strategy and capital-light platform model have significantly improved operational efficiency, bringing the net loss margin down to 0.3%. Despite macroeconomic challenges, Jianpu has made strides in loan recommendation services and big data risk management services, contributing to revenue growth.
During the third quarter of 2023, Jianpu’s total revenue decreased by 4.9% to RMB255.6 million (US$35.0 million), mainly due to a drop in recommendation services but offset by growth in marketing and other services. The company's ongoing cost optimization and operational efficiency initiatives have resulted in a reduction of non-GAAP adjusted net loss by 40.4% year-over-year to RMB5.6 million (US$0.8 million).
Looking ahead, Jianpu is actively pursuing a share repurchase program of up to US$3 million over the next 12 months, reflecting confidence in its financial health and growth prospects. Additionally, the co-founders have announced plans to purchase up to US$350,000 of the company’s shares, further demonstrating their commitment to the company's future.
Latest News:
- August 21, 2023: Jianpu announced second quarter 2023 financial results with a 7.7% revenue growth year-over-year.
- November 24, 2023: Jianpu released third quarter 2023 financial results, highlighting a 4.9% decrease in total revenue but improved efficiency and cost optimization.
- January 31, 2024: Jianpu announced a share repurchase program and the co-founders' plans to purchase company shares.
Jianpu Technology Inc. (NYSE: JT) has filed its annual report on Form 20-F for the fiscal year ended December 31, 2022, with the SEC on April 26, 2023. This report includes the Company's audited consolidated financial statements, which are accessible via the SEC's website and Jianpu's investor relations site. Jianpu is recognized as a leading independent platform in China for discovering and recommending financial products, facilitating connections between users and service providers efficiently and securely. The Company strives to maintain independence and impartiality in serving both users and financial service providers through tailored solutions.
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