Pintec Technology Holdings Limited / "Research and Development" | Tables in SEC filings

PT Pintec Technology Holdings Limited

Annual report (foreign)

The following table sets forth a summary of our consolidated results of operations for the period indicated, both in absolute amounts and as percentages of our total revenues. This information should be read together with our consolidated financial statements and related notes included elsewhere in this annual report. The operating results in any period are not necessarily indicative of the results that may be expected for any future period.


	For the Years Ended December 31,
	2021		2022		2023
	RMB	%	RMB	%	RMB	US$	%
	(in thousands, except percentages)
Summary Consolidated Statements of Comprehensive Loss Data:
Revenues:
Technical service fees	115,272	66.5	51,571	69.2	23,929	3,379	45.4
Installment service fees	16,949	9.8	14,143	19.0	13,494	1,905	25.6
Wealth management service fees and others	41,019	23.7	8,854	11.8	15,294	2,159	29.0
Total revenues	173,240	100.0	74,568	100.0	52,717	7,443	100.0

Cost of revenues:
Funding cost	(583)	(0.3)	(22)	(0.0)	(9,732)	(1,374)	(18.5)
Reversal/(Provision) for credit losses	1,934	1.1	(22,382)	(30.0)	554	78	1.1
Origination and servicing cost	(94,186)	(54.4)	(41,291)	(55.5)	(32,153)	(4,540)	(61.1)
Recover of guarantee	4,689	2.7	1,082	1.5	3,140	443	6.0
Service cost charged by the related party	(1,574)	(0.9)	(75)	(0.1)	—	—	—
Cost of revenues	(89,720)	(51.8)	(62,688)	(84.1)	(38,191)	(5,393)	(72.5)

Gross profit	83,520	48.2	11,880	15.9	14,526	2,050	27.5

Operating expenses:
Sales and marketing expenses	(40,936)	(23.6)	(27,154)	(36.4)	(19,635)	(2,772)	(37.2)
General and administrative expenses	(88,111)	(50.9)	(50,298)	(67.5)	(22,667)	(3,200)	(43.0)
Research and development expenses	(22,714)	(13.1)	(15,960)	(21.4)	(123)	(17)	(0.2)
Impairment loss of long-lived assets	(3,096)	(1.8)	—	—	(13,794)	(1,948)	(26.2)
Total operating expenses	(154,857)	(89.4)	(93,412)	(125.3)	(56,219)	(7,937)	(106.6)

Operating loss	(71,337)	(41.2)	(81,532)	(109.4)	(41,693)	(5,887)	(79.1)

Loss from disposal of a subsidiary	(5,498)	(3.2)	(2,176)	(2.9)	(38,883)	(5,490)	(73.8)
Impairment loss of long-term investments	—	—	(86,600)	(116.1)	—	—	—
Interest expenses, net	(32,453)	(18.7)	(24,138)	(32.4)	(4,470)	(631)	(8.5)
Other income, net	7,340	4.2	411	0.6	(10,109)	(1,427)	(19.2)
Loss before income tax expense	(101,948)	(58.9)	(194,035)	(260.2)	(95,155)	(13,435)	(180.6)
Income tax expense	(6,872)	(4.0)	(2,522)	(3.4)	13,901	1,963	26.4
Net loss	(108,820)	(62.9)	(196,557)	(263.6)	(81,254)	(11,472)	(154.2)

Other comprehensive (loss)/income	(10,793)	(6.2)	6,565	8.8	12,328	1,741	23.4

Total comprehensive loss	(119,613)	(69.1)	(189,992)	(254.8)	(68,926)	(9,731)	(130.8)


	As of December 31, 2023
		% of Total
	Number	Employees
Functions:
Research and development	12	17.14
Risk management	3	4.29
Business & Marketing Development	40	57.14
General and administrative	15	21.43
Total number of employees	70	100.0


	For the years ended December 31,
	2021	2022	2023	2023
	RMB	RMB	RMB	US$Note 2 (e)
Operating expenses:
Sales and marketing expenses	(354)	—	1,621	229
General and administrative expenses	(11,138)	(4,431)	(813)	(115)
Research and development expenses	(1,082)	(2,515)	2,375	335
Total operating expenses	(12,574)	(6,946)	3,183	449

Equity in loss of subsidiaries	(92,322)	(183,229)	(81,704)	(11,536)
Share of gain from equity method investments	3,331	—	—	—
Other expense, net	(39)	(8)	(241)	(33)
Loss before income tax expense	(101,604)	(190,183)	(78,762)	(11,120)
Income tax expense	(125)	—	—	—
Net loss	(101,729)	(190,183)	(78,762)	(11,120)

Other comprehensive income/(loss):
Foreign currency translation adjustments net of nil tax	(10,793)	6,565	12,328	1,741
Total other comprehensive income/(loss)	(10,793)	6,565	12,328	1,741
Total comprehensive loss	(112,522)	(183,618)	(66,434)	(9,379)


	For the year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB	US$
Share-based compensation expenses included in
Cost of revenues	13	(67)	323	46
Sales and marketing expenses	(354)	—	1,984	280
General and administrative expenses	(2,370)	(1,952)	2,202	311
Research and development expenses	(1,082)	(2,515)	2,375	335

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