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 ending December 31, 2021, with the SEC on April 29, 2022. This report includes the company's audited consolidated financial statements. Investors can access the document via the SEC's website or Jianpu's investor relations site. Jianpu operates as an independent platform in China, facilitating connections between users and financial service providers, utilizing proprietary technology to deliver customized financial recommendations.
Jianpu Technology Inc. (NYSE: JT) announced its acceptance as a member of the Payment and Clearing Association of China. This membership signifies recognition of Jianpu's contributions in fintech, reflecting the growing importance of digital transformation in the financial sector. Jianpu aims to leverage its position to enhance collaboration with regulators and financial institutions. CEO David Ye emphasized the company's commitment to fostering synergies within the association to drive the financial industry's digitalization.
Jianpu Technology Inc. (NYSE: JT) reported significant growth in its unaudited financial results for the fiscal year 2021, with total revenues rising by 37.4% to RMB805.0 million (US$126.3 million). Recommendation services saw a 42.2% revenue increase, totaling RMB575.2 million (US$90.3 million). Notably, the number of credit card recommendations surged by 38.4% to RMB407.8 million (US$64.0 million). Despite a net loss of RMB204.1 million (US$32.0 million), the company narrowed its losses compared to the previous year, indicating a strategic turnaround and improved operational efficiency.
Jianpu Technology Inc. (NYSE: JT) will release its second six months and fiscal year 2021 unaudited financial results on April 12, 2022, before U.S. markets open. An earnings conference call will follow at 8:00 AM ET. Participants are encouraged to join five minutes early. The call can also be accessed via a live and archived webcast on the company’s investor relations website. Jianpu is a leading platform in China for financial product discovery and recommendations, connecting users with providers efficiently.
Jianpu Technology Inc. (NYSE: JT) reported its financial results for the first half of 2021, showing a total revenue increase of 13.7% to RMB343.5 million (US$53.2 million) from RMB302.1 million in 2020. Revenue from credit card recommendations rose 5.3% to RMB179.8 million (US$27.8 million), while loan recommendation services soared by 60.8% to RMB75.1 million (US$11.6 million), driven by a 58.7% surge in loan applications. Although the net loss decreased to RMB95.8 million (US$14.8 million), the company’s cash reserves fell to RMB868.3 million (US$134.5 million).
Jianpu Technology Inc. (NYSE: JT) filed its annual report on Form 20-F for the fiscal year ended December 31, 2020, with the SEC on October 29, 2021. The report includes audited consolidated financial statements that are accessible via the SEC and Jianpu's investor relations website. Jianpu operates as an independent platform in China for discovering and recommending financial products, utilizing its data insights and technology to offer personalized services to users and financial service providers.
Jianpu Technology Inc. (NYSE: JT) announced its receipt of the "Specialized Accreditation of Big Data Platform Security" from Zhuoxin, recognizing its competitiveness in data security. This certification was conferred by the China Academy of Information and Communication Technology, marking Jianpu as one of only five recipients. The importance of data security is underscored by China's new legislation effective September 1, 2021. CEO David Ye emphasized the company's commitment to enhancing data security and supporting financial service providers in the evolving digital economy.
Jianpu Technology Inc. (NYSE: JT) announced its selection as one of the first companies in the Zhuoxin Big Data Program, led by the CAICT, aimed at enhancing data security for enterprises in China. The Program introduces a comprehensive data governance ecosystem and the first certification framework for data security in China. Jianpu's big data platform has achieved significant cybersecurity recognition, ensuring heightened data security capabilities for the financial sector. This initiative supports China's digital economy's sustainable growth and reflects Jianpu's commitment to data privacy protection.
Jianpu Technology Inc. (NYSE: JT) received a notification from NYSE Regulation regarding non-compliance with Section 802.01E due to its failure to timely file the Annual Report on Form 20-F for the year ended December 31, 2020. The delay stems from complications in finalizing the 2019 Form 20-F. The NYSE will monitor Jianpu's late filing for up to six months before considering potential suspension or delisting. Additionally, Jianpu addressed previous filing delays with the submission of a Form 6-K on May 14, 2021, curing its late filer status.
FAQ
What is the market cap of Jianpu Technology (JT)?
What does Jianpu Technology Inc. do?
What is the Rong360 platform?
What are Jianpu Technology Inc.'s recent financial highlights?
How does Jianpu Technology Inc. leverage AI?
What is the purpose of Jianpu's share repurchase program?
Who are the co-founders of Jianpu Technology Inc.?
What are the main services provided by Jianpu's platform?
How does Jianpu Technology Inc. ensure the security of its services?
What impact did the third quarter of 2023 have on Jianpu's financial performance?
Where can I find more information about Jianpu Technology Inc.?
