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AIJTY 6-K

Jianpu Technology Inc. (AIJTY)

6-K 2021-04-30 For: 2021-04-30
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Added on April 06, 2026

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 April 2021


Commission File Number: 001-38278


Jianpu Technology Inc.

21/F Internet Finance Center,

Danling Street, 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


Corrections of Previously Announced Unaudited Financial Results

Jianpu Technology Inc. (“Jianpu” or the “Company”) is furnishing this Form 6-K to disclose restatement adjustments to correct its previously announced unaudited quarterly financial results for the three months ended March 31, June 30, September 30, and December 31, 2019, and unaudited annual financial results for the year ended December 31, 2019, respectively, each attached as an exhibit to the Company’s current report on Form 6-K previously furnished to the Securities and Exchange Commission (the “SEC”) on May 30, 2019, August 28, 2019, December 10, 2019 and March 24, 2020, as applicable.

The restatement adjustments have arisen from (i) the findings from an internal review (the “Review”) of certain matters relating to transactions carried out by the Credit Card Business Unit of the Company with third-party agents (including both upstream agents and downstream suppliers); and (ii) subsequent events(1), primarily a concluded investigation against a subsidiary of the Company and certain of its employees by competent authorities in relation to the compliance of information collection or use, and others.

The Company’s consolidated financial statements for the year ended December 31, 2018 have been restated. The financial information included in reports previously filed or furnished by the Company for the years ended December 31, 2018 and 2019 should no longer be relied upon and is superseded by the applicable information in the Company’s annual report on Form 20-F for the year ended December 31, 2019 (the “2019 20-F”) filed on April 30, 2021 and this current report on Form 6-K, as the case may be.

The following tables provide the unaudited quarterly financial results for the three months ended March 31, June 30, September 30 and December 31, 2019, and unaudited annual financial results for the year ended December 31, 2019 that the Company previously announced, respectively, and the adjusted unaudited quarterly and annual financial results that are reconciled with the Company’s final financial results for the year ended December 31, 2019 included in the 2019 20-F.


Note:

(1)         According to ASC 855, these are first type subsequent events that provide additional evidence about conditions that existed at the date of the balance sheet as of December 31, 2019.

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Unaudited

**** As Previously Announced **** Adjustments **** **** As Adjusted ****
**** For the three months ended **** For the three months ended **** **** For the three months ended ****
(In thousands except for number of shares and per March 31, 2019 **** June 30, 2019 **** September 30, 2019 **** December 31, 2019 **** March 31, 2019 **** June 30, 2019 **** September 30, 2019 **** December 31, 2019 **** **** March 31, 2019 **** June 30, 2019 **** September 30, 2019 **** December 31, 2019 ****
share data) RMB **** RMB **** RMB **** RMB **** RMB **** RMB **** RMB **** RMB **** NOTES RMB **** RMB **** RMB **** RMB ****
Revenues:
Recommendation services:
Loans 432,550 103,418 90,324 40,015 432,550 103,418 90,324 40,015
Credit cards 149,305 196,524 195,583 208,261 (23,366 ) (33,783 ) (43,654 ) (62,877 ) (2) 125,939 162,741 151,929 145,384
Total recommendation services 581,855 299,942 285,907 248,276 (23,366 ) (33,783 ) (43,654 ) (62,877 ) 558,489 266,159 242,253 185,399
Advertising, marketing services and other services 73,004 62,341 37,595 41,389 (13,210 ) (16,790 ) (902 ) (3), (4) 59,794 45,551 37,595 40,487
Total revenues 654,859 362,283 323,502 289,665 (36,576 ) (50,573 ) (43,654 ) (63,779 ) 618,283 311,710 279,848 225,886
Cost of revenues (55,938 ) (24,396 ) (26,984 ) (26,650 ) (55,938 ) (24,396 ) (26,984 ) (26,650 )
Gross profit 598,921 337,887 296,518 263,015 (36,576 ) (50,573 ) (43,654 ) (63,779 ) 562,345 287,314 252,864 199,236
Operating expenses:
Sales and marketing (448,232 ) (318,374 ) (325,293 ) (260,397 ) 23,366 33,783 39,581 56,220 (2), (4) (424,866 ) (284,591 ) (285,712 ) (204,177 )
Research and development (82,319 ) (73,288 ) (66,502 ) (50,234 ) (82,319 ) (73,288 ) (66,502 ) (50,234 )
General and administrative (52,374 ) (40,100 ) (30,609 ) 45,973 (23,786 ) (2), (4) (52,374 ) (40,100 ) (30,609 ) 22,187
Impairment loss (250,323 ) (4,360 ) (250,323 ) (4,360 )
Penalties (13,210 ) (16,790 ) (3) (13,210 ) (16,790 )
Income/(Loss) from operations 15,996 (93,875 ) (376,209 ) (6,003 ) (26,420 ) (33,580 ) (4,073 ) (31,345 ) (10,424 ) (127,455 ) (380,282 ) (37,348 )
Net interest income 730 2,418 1,786 166 730 2,418 1,786 166
Others, net 1,592 4,497 6,337 (641 ) 1,592 4,497 6,337 (641 )
Income/(Loss) before income tax 18,318 (86,960 ) (368,086 ) (6,478 ) (26,420 ) (33,580 ) (4,073 ) (31,345 ) (8,102 ) (120,540 ) (372,159 ) (37,823 )
Income tax benefits/(expenses) 392 2,106 15,542 (83 ) (2,178 ) (4,606 ) (3,168 ) (3) (1,786 ) (2,500 ) 12,374 (83 )
Net income/(loss) 18,710 (84,854 ) (352,544 ) (6,561 ) (28,598 ) (38,186 ) (7,241 ) (31,345 ) (9,888 ) (123,040 ) (359,785 ) (37,906 )
Less: net income/(loss) attributable to noncontrolling interests 2,609 (1,175 ) (61,338 ) (1,194 ) (7,261 ) (9,696 ) (804 ) (3) (4,652 ) (10,871 ) (62,142 ) (1,194 )
Net income/(loss) attributable to Jianpu’s shareholders 16,101 (83,679 ) (291,206 ) (5,367 ) (21,337 ) (28,490 ) (6,437 ) (31,345 ) (5,236 ) (112,169 ) (297,643 ) (36,712 )
Other comprehensive (loss)/income, net
Foreign currency translation adjustments (20,704 ) 20,575 26,940 (12,126 ) (20,704 ) 20,575 26,940 (12,126 )
Total other comprehensive (loss)/income (20,704 ) 20,575 26,940 (12,126 ) (20,704 ) 20,575 26,940 (12,126 )
Total comprehensive loss (1,994 ) (64,279 ) (325,604 ) (18,687 ) (28,598 ) (38,186 ) (7,241 ) (31,345 ) (30,592 ) (102,465 ) (332,845 ) (50,032 )
Less: total comprehensive income/(loss) attributable to noncontrolling interests 2,401 (949 ) (61,109 ) (1,314 ) (7,261 ) (9,696 ) (804 ) (3) (4,860 ) (10,645 ) (61,913 ) (1,314 )
Total comprehensive loss attributable to Jianpu’s shareholders (4,395 ) (63,330 ) (264,495 ) (17,373 ) (21,337 ) (28,490 ) (6,437 ) (31,345 ) (25,732 ) (91,820 ) (270,932 ) (48,718 )
Net loss per share attributable to Jianpu’s shareholders
Basic 0.04 (0.20 ) (0.69 ) (0.01 ) (0.05 ) (0.07 ) (0.02 ) (0.07 ) (0.01 ) (0.27 ) (0.71 ) (0.08 )
Diluted 0.04 (0.20 ) (0.69 ) (0.01 ) (0.05 ) (0.07 ) (0.02 ) (0.07 ) (0.01 ) (0.27 ) (0.71 ) (0.08 )
Net loss per ADS (1) attributable to Jianpu’s shareholders
Basic 0.76 (4.01 ) (13.81 ) (0.26 ) (1.02 ) (1.36 ) (0.30 ) (1.48 ) (0.26 ) (5.37 ) (14.11 ) (1.74 )
Diluted 0.73 (4.01 ) (13.81 ) (0.26 ) (0.99 ) (1.36 ) (0.30 ) (1.48 ) (0.26 ) (5.37 ) (14.11 ) (1.74 )
Weighted average number of shares
Basic 419,188,261 418,461,069 422,105,931 422,494,898 419,188,261 418,461,069 422,105,931 422,494,898
Diluted 441,141,116 418,461,069 422,105,931 422,494,898 419,188,261 418,461,069 422,105,931 422,494,898

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Unaudited

**** For the Year Ended December 31, 2019 ****
(In thousands except for number of shares and per As Previously Announced **** Adjustments **** As Adjusted (5) ****
share data) RMB **** RMB **** RMB ****
Revenues:
Recommendation services:
Loans 666,307 666,307
Credit cards 749,673 (163,680 ) 585,993
Total recommendation services 1,415,980 (163,680 ) 1,252,300
Advertising, marketing services and other services 214,329 (30,902 ) 183,427
Total revenues 1,630,309 (194,582 ) 1,435,727
Cost of revenues (133,968 ) (133,968 )
Gross profit 1,496,341 (194,582 ) 1,301,759
Operating expenses:
Sales and marketing (1,352,296 ) 152,950 (1,199,346 )
Research and development (272,343 ) (272,343 )
General and administrative (77,110 ) (23,786 ) (100,896 )
Impairment loss (254,683 ) (254,683 )
Penalties (30,000 ) (30,000 )
Loss from operations (460,091 ) (95,418 ) (555,509 )
Net interest income 5,100 5,100
Others, net 11,785 11,785
Loss before income tax (443,206 ) (95,418 ) (538,624 )
Income tax benefits/(expenses) 17,957 (9,952 ) 8,005
Net loss (425,249 ) (105,370 ) (530,619 )
Less: net loss attributable to noncontrolling interests (61,098 ) (17,761 ) (78,859 )
Net loss attributable to Jianpu’s shareholders (364,151 ) (87,609 ) (451,760 )
Other comprehensive income, net
Foreign currency translation adjustments 14,685 14,685
Total other comprehensive income 14,685 14,685
Total comprehensive loss (410,564 ) (105,370 ) (515,934 )
Less: total comprehensive loss attributable to noncontrolling interests (60,971 ) (17,761 ) (78,732 )
Total comprehensive loss attributable to Jianpu’s shareholders (349,593 ) (87,609 ) (437,202 )
Net loss per share attributable to Jianpu’s shareholders
Basic and diluted (0.87 ) (0.20 ) (1.07 )
Net loss per ADS attributable to Jianpu’s shareholders
Basic and diluted (17.32 ) (4.16 ) (21.48 )
Weighted average number of shares
Basic and diluted 420,575,827 420,575,827

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Unaudited

**** As Previously Announced **** Adjustments **** **** As Adjusted ****
(In thousands except for number As of March 31, 2019 **** As of June 30, 2019 **** As of  September 30, 2019 **** As of December 31, 2019 **** As of  March 31, 2019 **** As of June 30, 2019 **** As of September 30, 2019 **** As of December 31, 2019 **** **** As of March 31, 2019 **** As of June 30, 2019 **** As of September 30, 2019 **** As of  December 31, 2019 ****
of shares and per share data) RMB **** RMB **** RMB **** RMB **** RMB **** RMB **** RMB **** RMB **** NOTES RMB **** RMB **** RMB **** RMB ****
ASSETS
Current assets:
Cash and cash equivalents 1,103,426 916,133 806,686 694,910 1,103,426 916,133 806,686 694,910
Restricted cash and time deposits 161,904 165,299 293,585 249,770 161,904 165,299 293,585 249,770
Short-term investment 85,050 123,661 85,050 123,661
Accounts receivable, net 433,645 497,849 395,563 370,266 (24,741 ) (2), (4) 433,645 497,849 395,563 345,525
Amount due from related party 13,134 7,082 13,134 7,082
Prepayments and other current assets 215,446 139,381 165,377 118,100 323 (4) 215,446 139,381 165,377 118,423
Total current assets 2,012,605 1,842,323 1,661,211 1,440,128 (24,418 ) 2,012,605 1,842,323 1,661,211 1,415,710
Non-current assets:
Property and equipment, net 50,791 46,273 43,727 36,686 50,791 46,273 43,727 36,686
Intangible assets, net 110,874 106,085 5,182 27,061 110,874 106,085 5,182 27,061
Goodwill 147,296 147,296 5,422 12,697 147,296 147,296 5,422 12,697
Restricted cash, time deposit and investment 124,407 124,407
Other non-current assets 120,969 83,160 121,322 50,458 (5,298 ) (4) 120,969 83,160 121,322 45,160
Total non-current assets 429,930 382,814 175,653 251,309 (5,298 ) 429,930 382,814 175,653 246,011
Total assets 2,442,535 2,225,137 1,836,864 1,691,437 (29,716 ) 2,442,535 2,225,137 1,836,864 1,661,721
LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term borrowings 148,500 148,500 154,314 60,000 148,500 148,500 154,314 60,000
Accounts payable 214,159 208,488 149,934 185,681 (1,363 ) (4) 214,159 208,488 149,934 184,318
Advances from customers 144,137 98,007 63,911 44,000 144,137 98,007 63,911 44,000
Tax payable 34,760 13,705 12,669 12,272 2,178 6,784 9,952 9,896 (3), (4) 36,938 20,489 22,621 22,168
Amount due to related party 9,225 25,337 13,649 34,310 9,225 25,337 13,649 34,310
Accrued expenses and other current liabilities 176,776 121,127 160,517 156,897 26,420 60,000 64,073 67,121 (2), (3) 203,196 181,127 224,590 224,018
Total current liabilities 727,557 615,164 554,994 493,160 28,598 66,784 74,025 75,654 756,155 681,948 629,019 568,814
Non-current liabilities:
Deferred tax liabilities 16,199 15,532 585 5,801 16,199 15,532 585 5,801
Other non-current liabilities 30,446 24,074 18,731 15,145 30,446 24,074 18,731 15,145
Total non-current liabilities 46,645 39,606 19,316 20,946 46,645 39,606 19,316 20,946
Total liabilities 774,202 654,770 574,310 514,106 28,598 66,784 74,025 75,654 802,800 721,554 648,335 589,760
Mezzanine equity:
Redeemable noncontrolling interest 5,766 5,556 5,766 5,556
Shareholders’ equity:
Ordinary shares 284 286 286 286 284 286 286 286
Treasury stock, at cost (93,937 ) (110,199 ) (105,474 ) (102,222 ) (93,937 ) (110,199 ) (105,474 ) (102,222 )
Additional paid-in capital 1,949,888 1,964,623 1,971,893 1,902,105 1,949,888 1,964,623 1,971,893 1,902,105
Accumulated losses (325,124 ) (408,803 ) (700,009 ) (706,497 ) (21,337 ) (49,827 ) (56,264 ) (86,488 ) (346,461 ) (458,630 ) (756,273 ) (792,985 )
Statutory reserves 1,900 1,900 1,900 3,021 (1,121 ) (3) 1,900 1,900 1,900 1,900
Accumulated other comprehensive income 17,254 37,603 64,314 52,308 17,254 37,603 64,314 52,308
Total Jianpu’s shareholders’ equity 1,550,265 1,485,410 1,232,910 1,149,001 (21,337 ) (49,827 ) (56,264 ) (87,609 ) 1,528,928 1,435,583 1,176,646 1,061,392
Noncontrolling interests 118,068 84,957 23,878 22,774 (7,261 ) (16,957 ) (17,761 ) (17,761 ) (3) 110,807 68,000 6,117 5,013
Total shareholders’ equity 1,668,333 1,570,367 1,256,788 1,171,775 (28,598 ) (66,784 ) (74,025 ) (105,370 ) 1,639,735 1,503,583 1,182,763 1,066,405
Total liabilities, mezzanine equity and shareholders’ equity 2,442,535 2,225,137 1,836,864 1,691,437 (29,716 ) 2,442,535 2,225,137 1,836,864 1,661,721

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Notes:

(1)             Net loss per ADS (American Depositary Shares) attributable to Jianpu’s shareholders has been retrospectively adjusted for the ADS ratio change, from two ADS to five Class A ordinary shares to one ADS to twenty Class A ordinary shares, that became effective on October 30, 2020.

(2)             Refers to the adjustments that arose from the findings from the Review, which affected unaudited quarterly financial results for all four quarters of the year. See “Item 8. Financial Information—A. Consolidated Statements and Other Financial Information—Independent Review.” in the 2019 20-F.

(3)             Refers to the adjustments that arose from the concluded investigation against a subsidiary of the Company and certain of its employees by competent authorities in relation to the compliance of information collection or use, which affected revenues and penalties in the first and second quarter of the year, and income tax expenses and net loss attributable to noncontrolling interest in the first three quarters of the year. See note 25(b) to the consolidated financial statements included in the 2019 20-F.

(4)             Refers to the adjustments that arose from other subsequent events, which provided additional evidence about conditions that existed at the date of the balance sheet as of December 31, 2019, which affected unaudited quarterly financial results for the fourth quarter of the year.

(5)             The adjusted unaudited financial results are reconciled with the Company’s final financial results for the year ended December 31, 2019 included in the 2019 20-F.

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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.

Jianpu Technology Inc.
By : /s/ Yilü (Oscar) Chen
Name : Yilü (Oscar) Chen
Title : Chief Financial Officer

Date: April 30, 2021

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