Pintec Technology Holdings Stock Price, News & Analysis

Pintec Technology Holdings Limited (Nasdaq: PT) announced the completion of an equity transfer agreement, with a total consideration of RMB400,000,000 for 100% outstanding equity interests in Yinchuan Chuanxi Technology Co., Ltd. The transaction closed on October 22, 2020. The Transferee, a wholly-owned subsidiary, will repay the full consideration within 20 days after the third anniversary of the closing date. A warrant for 320,036,576 shares is issued to the Transferor, providing a potential premium. The funds will support digital technology investments and enhance financial flexibility.

Pintec Technology Holdings Limited (Nasdaq: PT) conducted its extraordinary general meeting on September 25, 2020. Shareholders approved an increase in authorized share capital to US$250,000, consisting of 2 billion shares with par values of US$0.000125. The revised structure includes 1.75 billion Class A ordinary shares and 250 million Class B ordinary shares. Furthermore, a special resolution was passed to amend the company's memorandum and articles of association, replacing the existing document with an updated version.

Pintec Technology Holdings Limited (NASDAQ: PT) reported a significant decline in financial performance for the first half of 2020. Total revenues fell 65.0% to RMB251.6 million (US$35.6 million) compared to RMB719.7 million in H1 2019. The net loss increased to RMB104.2 million (US$14.7 million) from a net income of RMB81.2 million last year. Operating loss was RMB100.0 million (US$14.2 million), contrasting with an operating income of RMB73.6 million in H1 2019. Despite these challenges, the firm aims to pivot towards digital-centric services, enhancing long-term growth sustainability.

Pintec Technology Holdings Limited (Nasdaq: PT) will release its financial results for H1 2020 on September 21, 2020, before U.S. markets open. The company is a technology platform enabling financial services in China, catering to a diverse range of sectors including e-commerce and online education. Following the earnings release, a conference call will be held at 8:00 A.M. ET (8:00 P.M. Beijing Time) to discuss the results. Registration for the call is mandatory due to the ongoing pandemic. For more details, visit ir.pintec.com.

Pintec Technology Holdings Ltd. (NASDAQ: PT) has partnered with China Dili Group (HKEX: 1387) to enhance supply chain financing solutions. Utilizing its Credit Value Maximizer (CVX) Business Lending Solutions, Pintec aims to digitize China Dili's financing operations. This partnership targets improved efficiency in credit processes, including cost reductions and automation. Pintec's CVX platform has seen global adoption, assisting firms in various countries with their financing needs. The collaboration is expected to bolster competitive advantages for both companies.

Pintec Technology Holdings Limited (Nasdaq: PT) announced an update on its partnership with Industrial and Commercial Bank of China (ICBC), which implemented Pintec's SME risk management solutions.

The collaboration enhances ICBC's SME lending services, improving accuracy in risk assessment and decision-making. This marks the completion of the first stage of their partnership. Amid rising SME financing needs due to COVID-19, ICBC has initiated measures to support SMEs, utilizing Pintec's advanced fintech solutions.

Pintec Technology Holdings Ltd. (NASDAQ: PT) has filed its annual report on Form 20-F for the fiscal year ending December 31, 2019, with the SEC on June 29, 2020. The report is accessible via the company's investor relations website or the SEC’s site. PINTEC is a leading independent fintech platform in China providing diverse financial services through partnerships across various industries. The company offers customized solutions, including point-of-sale financing and personal loans, leveraging a scalable technology infrastructure.

Pintec Technology Holdings Ltd. (NASDAQ: PT) announced an expanded partnership with China Telecom Bestpay, enhancing their cooperation on intelligent handset installment services for government and enterprise clients. This initiative builds on a previous collaboration initiated in 2017. The Chengfenqi product, designed for high-credit customers, aims to reduce financing costs for handset purchases. As of 2019, these services generated a loan volume of RMB513 million, showcasing the partnership's growth. Pintec continues to collaborate with major telecom operators, emphasizing its commitment to inclusive financing solutions.