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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 (NYSE: JT) reported its fourth quarter and fiscal year 2022 financial results, highlighting a 27.2% increase in total revenues to RMB731.7 million (US$106.1 million) year-over-year. The fourth quarter saw revenues from recommendation services rise 8.5% to RMB171.3 million (US$24.8 million), mainly driven by loan recommendations, despite a slight drop in credit card services. The company also achieved a reduced net loss of RMB20.2 million (US$2.9 million), significantly better than last year's RMB48.3 million net loss. However, revenues from big data services declined 20.8% due to COVID-19 impacts, and operational losses decreased substantially due to cost optimization.
Jianpu Technology Inc. (NYSE: JT) announced it will report its fourth quarter and fiscal year 2022 unaudited financial results on March 21, 2023, before the U.S. market opens. The management will host a conference call on the same day at 8:00 AM ET. Interested participants can join using the provided toll-free numbers, with a replay available for up to one week after the call. Jianpu operates as an independent platform for discovering and recommending financial products in China, connecting users with financial service providers. The company aims to enhance service efficiency through its proprietary technology.
Jianpu Technology Inc. (JT) reported a 26.4% increase in total revenues to RMB268.8 million (US$37.8 million) for Q3 2022. Recommendation services revenues soared by 30.3%, driven by higher credit card and loan application volumes. However, revenues from big data services fell by 18.8%, attributed to fewer paying customers amid COVID-19 impacts. The net loss was reduced to RMB25.1 million (US$3.5 million) from RMB60.0 million a year prior, improving the net loss margin to 9.3%. Despite a cautious outlook ahead, the company expects to sustain growth through operational efficiencies.
Jianpu Technology Inc. (NYSE: JT) will release its third quarter 2022 financial results on December 2, 2022, before U.S. market opening. An earnings conference call is scheduled for 7:00 AM ET on the same day. Investors can join the call via dial-in numbers or watch a live webcast on their investor relations website. Jianpu provides a platform for the discovery and recommendation of financial products in China, connecting users with service providers efficiently. The company emphasizes maintaining an independent open platform.
Jianpu Technology Inc. (NYSE: JT) reported its Q2 2022 financial results, showing robust growth despite a challenging macro environment. Total revenues increased by 33.9% to RMB265.1 million (US$39.6 million), driven largely by a 37.8% rise in recommendation services revenue to RMB204.7 million (US$30.6 million). The number of loan applications surged by 43.3%, while advertising revenues skyrocketed by 187%. Operating losses decreased to RMB35.9 million (US$5.4 million), reflecting enhanced operational efficiency. However, revenue from big data services dropped by 37%. The company remains cautiously optimistic for H2 2022.
Jianpu Technology Inc. (NYSE: JT) will release its unaudited financial results for the second quarter of 2022 on August 23, 2022, before U.S. market opening. A conference call is scheduled for 8:00 AM ET on the same day, providing dial-in details for U.S., international, and Hong Kong participants. The call will be available via webcast on Jianpu's investor relations website. The company is a leading platform for discovering and recommending financial products in China.
Jianpu Technology Inc. (NYSE: JT) reported a strong performance for Q1 2022, with total revenues increasing by 42.6% year-over-year to RMB207.6 million (US$32.7 million). Revenue from recommendation services rose 35.6% to RMB144.1 million (US$22.7 million), driven by a 77.3% increase in domestic loan applications. However, revenues from big data services fell 24.9% to RMB20.2 million (US$3.2 million). Despite a decrease in net losses to RMB53.0 million (US$8.4 million), operational challenges due to COVID-19 persist. The company expects continued growth supported by digital transformation initiatives.
Jianpu Technology Inc. (NYSE: JT) has announced a change in the timing of its earnings release for Q1 2022, now scheduled for June 17, 2022. The conference call will take place at 8:00 AM Eastern Time, allowing participants to connect via various dial-in options. The company remains a leading platform for financial product discovery in China, connecting users with financial services. A webcast of the earnings call will also be available on their investor relations website.
Jianpu Technology Inc. (NYSE: JT) announced that it will release its first quarter 2022 unaudited financial results on June 14, 2022, before U.S. market opens. Following the release, a conference call will be held at 8:00 AM ET on the same day. Investors can access the call via dedicated dial-in numbers or through the company's investor relations website. Jianpu is a key player in China's financial services sector, offering an open platform for discovering and recommending financial products tailored to users' needs.
Jianpu Technology Inc. (NYSE: JT) has been provisionally identified by the SEC as a Commission-Identified Issuer under the Holding Foreign Companies Accountable Act (HFCAA) as of May 4, 2022. This identification stems from the company's recent filing of its annual report, revealing that the auditing firm used cannot be fully inspected by the PCAOB. If Jianpu is identified for three consecutive years, its shares may be prohibited from trading in the U.S. The company is actively seeking solutions to maintain its NYSE listing.
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