Benzinga | Sep 21, 2020 06:06AM EDT

PINTEC 1H Sales $35.6M

BEIJING, Sept. 21, 2020 (GLOBE NEWSWIRE) -- Pintec Technology Holdings Limited (NASDAQ:PT) ("PINTEC" or the "Company"), a leading independent technology platform enabling financial services in China, today announced its unaudited financial results for the six months ended June 30, 2020.



First Half 2020 Financial Highlights

* Total revenues decreased by 65.0% to RMB251.6million (US$35.6million) from RMB719.7 million in the same period of 2019.

* Gross profit was RMB42.7 million (US$6.0 million) compared to RMB296.9 million in the same period of 2019. Gross margin was 17.0% compared to 41.3% in the same period of 2019.

* Operating loss was RMB100.0 million (US$14.2 million) compared to operating income of RMB73.6 million in the same period of 2019.

* Net loss was RMB104.2 million (US$14.7 million) compared to net income of RMB81.2 million in the same period of 2019.

* Adjusted net loss1 was RMB96.9 million (US$13.7 million) compared to adjusted net income of RMB111.1 million in the same period of 2019.