Jianpu Technology (JT) 6-K Current report (foreign)

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filed or furnished by the Company for the years ended December 31, 2018 and 2019 should no longer be relied upon and is superseded by the applicable information in the Company’s annual report on Form 20-F for the year ended December 31, 2019 (the “2019 20-F”) filed on April 30, 2021 and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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