SHANGHAI, March 17, 2020 /PRNewswire/ -- Yintech
Investment Holdings Limited (NASDAQ: YIN) ("Yintech" or the
"Company"), a leading provider of investment and trading
services for individual investors in China, today announced its unaudited financial
results for the fourth quarter and the full year of 2019.
Fourth Quarter and Full Year 2019 Financial
Highlights
|
For the quarter
ended
|
|
For the year
ended
|
In RMB million,
except
otherwise specified
|
31-Dec-
2018
|
30-Sep-
2019
|
31-Dec-
2019
|
Q4'19 vs.
Q4'18
|
Q4'19 vs.
Q3'19
|
|
31-Dec-
2018
|
31-Dec-
2019
|
Change
|
|
Revenues
|
295.2
|
501.2
|
447.2
|
51.5%
|
(10.8%)
|
|
1,094.7
|
1,691.8
|
54.5%
|
Net commissions and
fees
|
273.4
|
458.7
|
385.4
|
41.0%
|
(16.0%)
|
|
941.9
|
1,399.6
|
48.6%
|
Net commissions and
fees
from commodities
services
|
152.5
|
325.1
|
257.8
|
69.0%
|
(20.7%)
|
|
604.4
|
881.4
|
45.8%
|
Net commissions and
fees
from securities services
|
120.9
|
133.6
|
127.6
|
5.5%
|
(4.5%)
|
|
337.5
|
518.2
|
53.5%
|
Net income/(loss)
attributable to
Yintech
|
(727.7)
|
98.0
|
(26.5)
|
96.4%
|
(127.0%)
|
|
(863.0)
|
85.7
|
109.9%
|
Earnings/(loss) per
ADS -
diluted (RMB)
|
(10.39)
|
1.30
|
(0.36)
|
|
|
|
(12.03)
|
1.14
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP data
(Refer to "Reconciliation of GAAP to Non-GAAP
Results")
|
|
|
|
|
Non-GAAP net
income/(loss)
attributable to Yintech
|
(106.8)
|
105.9
|
(18.6)
|
82.6%
|
(117.6%)
|
|
(189.2)
|
130.9
|
169.2%
|
Non-GAAP
earnings/(loss)
per ADS - diluted (RMB)
|
(1.52)
|
1.40
|
(0.25)
|
|
|
|
(2.64)
|
1.74
|
|
"In the fourth quarter of 2019, we saw strong growth across our
primary business on a year-over-year basis, increasing our total
revenues by 51.5%, due to strong performances in our commodities
and securities services as well as trading gains. Out total net
revenues exceeded management's high-end guidance by 9%," said Mr.
Wenbin Chen, Chairman and CEO of
Yintech.
"With that, we finished the year of 2019 with solid business and
financial growth. Net revenues from commodities and securities
services grew by 48.6% as compared to 2018, propelled by flexible
strategic approach we adopted in executing our business initiatives
in evolving and dynamic market circumstance and solid growth of
almost all of our products and services lines, demonstrating
management's strong execution capabilities."
"We continued to build financial and balance sheet strength in
2019. We invested to drive growth while staying disciplined on
expenses. We maintained a strong cash balance and overall liquidity
position while returning capital to our shareholders. In 2019, our
total revenues increased by 54.5% year-over-year to RMB1.7 billion, and more encouragingly, we have
returned to profitability with RMB85.7
million in net income attributable to our shareholders."
"As we look ahead to 2020, while remaining focused on executing
our strategy of serving Chinese retail investors' evolving needs by
offering a diverse portfolio of commodities and securities products
and providing industry leading service experience. We will look to
explore new approaches to grow our business, particularly in
producing premium Apps
and online learning content and strengthening our
research capabilities. We believe this approach will position us
well for growth and have positive impact to the margins."
"On March 16, 2020, our board of
directors passed a resolution to approve the proposal to distribute
a cash dividend of US$0.30 per ADS
for the year ended December 31, 2019.
We believe this demonstrates our solid financial position and
strong commitment to creating long-term value for our
shareholders."
"Finally, with respect to the COVID-19 outbreak, we have
contributed necessary financial support to the affected communities
and classes as we move through this challenging time. We are
closely monitoring the evolving situation, but in the foreseeable
future we do not anticipate a dramatic negative impact to our
business given the online nature of it. Instead, we saw the recent
volatility of global financial markets and spot gold trading may
represent more opportunities to us and our clients," Mr.
Wenbin Chen concluded.
Fourth Quarter 2019 Financial Results
Revenues for the quarter were RMB447.2 million (US$64.2
million), compared with RMB295.2
million in the same quarter last year and RMB501.2 million in the previous quarter,
representing an increase of 51.5% year-over-year and a decrease of
10.8% from the previous quarter. The year-over-year increase was
mainly due to increases in commissions and fees from commodities
services and trading gains. The quarter-over-quarter decrease was
mainly due to a decrease in commissions and fees from both
commodities and securities services.
Net commissions and fees for the quarter were
RMB385.4 million (US$55.4 million), representing an increase of
41.0% year-over-year and a decrease of 16.0% from the previous
quarter, primarily due to the reasons stated above.
Customer trading volume for the quarter was RMB699.3 billion (US$100.4 billion), representing an increase of
67.8% year-over-year primarily due to an increase in trading volume
of spot commodities and a decrease of 32.4% from the previous
quarter, mainly as a result of the decrease in trading volumes of
spot commodities.
Customer trading volume for
commodities (representing customer trading volume of spot
and futures commodities) was RMB693.3
billion (US$99.6 billion)
during the quarter, an increase of 67.5% year-over-year and a
decrease of 31.9% from the previous quarter.
Net commissions and fees from commodities
services for the quarter were RMB257.8 million (US$37.0
million), representing an increase of 69.0% year-over-year
and a decrease of 20.7% from the previous quarter. The
year-over-year increase was primarily attributable to an increase
in customer trading volume for commodities.
Effective fee rate for commodities (representing net
commissions and fees from commodities services as a percentage of
customer trading volume for commodities) for the quarter
was 0.037%, compared with 0.037% in the same quarter last year
and 0.032% in the previous quarter.
Customer trading volume for securities (representing
customer trading volume of overseas securities brokerage) was
RMB6.0 billion (US$0.9 billion) during the quarter, representing
an increase of 100.0% year-over-year and a decrease of 63.4% from
the previous quarter. The volatility in securities trading was
mainly the result of the Company's strategy shift to accommodate
the market and policy environment of the corresponding quarter on
an ongoing basis.
Net commissions and fees from securities
services for the quarter were RMB127.6 million (US$18.3
million), representing an increase of 5.5% year-over-year
and a decrease of 4.5% from the previous quarter.
Effective fee rate for securities (representing net
commissions and fees from overseas securities brokerage services as
a percentage of customer trading volume for overseas
securities brokerage) for the quarter was 0.113%, compared
with 0.179% in the same quarter last year and 0.080% in the
previous quarter.
Expenses for the quarter were RMB429.5 million (US$61.7 million), a decrease
of 58.7% year-over-year mainly because of decrease in
impairment of goodwill and intangible assets and an increase of
16.3% from the previous quarter as a result of our incremental
research and technology investment.
Net loss for the quarter was RMB12.9 million (US$1.9 million), compared with
net loss of RMB732.2 million in the same quarter last
year and net income of RMB113.7 million in the previous
quarter.
Net loss attributable to Yintech for the quarter was
RMB26.5 million (US$3.8million), compared with net loss of
RMB727.7 million in the same
quarter last year and net income of RMB98.0 million in the previous quarter.
Non-GAAP net loss attributable to Yintech (Refer
to "Reconciliation of GAAP to Non-GAAP Results") for the
quarter was RMB18.6 million
(US$2.7 million), compared with net
loss of RMB106.8 million in the
same quarter last year and net income of RMB105.9 million in the previous
quarter.
Diluted loss per ADS for the quarter was
RMB0.36 (US$0.05), compared with diluted loss per ADS of
RMB10.39 in the same quarter
last year and diluted earnings per ADS of RMB1.30 in the previous quarter.
Non-GAAP diluted loss per ADS (Refer to
"Reconciliation of GAAP to Non-GAAP Results") for the quarter
was RMB0.25 (US$0.04), compared
with non-GAAP diluted loss per ADS of RMB1.52 in the same quarter last year and
non-GAAP diluted earnings per ADS of RMB1.40 in the previous quarter.
Full Year 2019 Financial Results
Revenues for the full year 2019 was RMB1,691.8 million (US$243.0 million), an increase of 54.5% from
RMB1,094.7 million for the full year
2018, mainly due to the increase in net commissions and fees.
Net commissions and fees for the full year 2019 were
RMB1,399.6 million (US$201.0 million), an increase of 48.6% from
RMB941.9 million for the full year
2018 due to our clients' growing demand on our commodities and
securities products and services.
Customer trading volume for the full year 2019 was
RMB2,665.6 billion (US$382.9 billion), an increase of 54.0% from
RMB1,730.7 billion for the full year
2018.
Customer trading volume for
commodities (representing customer trading volume of spot
and futures commodities) for the full year 2019 was RMB2,516.1 billion (US$361.4 billion), an increase of 46.5% from
RMB1,717.5 billion for the full year
2018.
Net commissions and fees from commodities services for
the full year 2019 were RMB881.4
million (US$126.6 million), an
increase of 45.8% from RMB604.4
million for the full year 2018.
Effective fee rate for
commodities (representing net commissions and fees from
commodities services as a percentage of customer trading
volume for commodities) for the full
year 2019 was 0.035%, the same with
the full year 2018.
Customer trading volume for securities (representing
customer trading volume of overseas securities brokerage) for the
full year 2019 was RMB149.5 billion
(US$21.5 billion), an increase of
1,032.6% from RMB13.2 billion for the
full year 2018.
Net commissions and fees from securities services for the full year 2019 were RMB518.2 million (US$74.4 million),
an increase of 53.5% from RMB337.5
million for the full year 2018.
Effective fee rate for securities (representing net
commissions and fees from overseas securities brokerage services as
a percentage of customer trading volume for overseas
securities brokerage) for the full year 2019 was 0.059%, compared
with 0.382% for the full year 2018.
Expenses for the full year 2019 were RMB1,433.3 million (US$205.9 million), a decrease
of 27.1% from RMB1,967.1
million for the full year 2018 mainly
because of decrease in impairment of goodwill and intangible
assets.
Net income for the full year 2019 was RMB130.6 million (US$18.8 million), compared
to net loss of RMB873.4 million for the full year 2018.
Net income attributable to Yintech for the full year
2019 was RMB85.7 million
(US$12.3 million), compared to net
loss of RMB863.0 million for the full
year 2018.
Non-GAAP net income attributable to Yintech (Refer
to "Reconciliation of GAAP to Non-GAAP Results")
for the full year 2019 was RMB130.9
million (US$18.8
million), compared to net loss of
RMB189.2 million for the full year 2018.
Diluted earnings per ADS for the full year
2019 was RMB1.14 (US$0.16), compared with diluted loss per ADS of
RMB12.03 for the full year 2018.
Non-GAAP diluted earnings
per ADS (Refer to "Reconciliation of GAAP to
Non-GAAP Results") for the full year 2019 was RMB1.74 (US$0.25),compared with non-GAAP diluted loss per
ADS of RMB2.64 for the full year
2018.
As of December 31, 2019, the
Company had RMB2,105.4 million
(US$302.4 million) in cash and
short term investments, compared with RMB1,736.9 million as of December 31, 2018.
As of December 31, 2019, total shareholders' equity of Yintech was RMB2,771.4
million (US$398.1 million),
compared with RMB2,625.0 million as of
December 31, 2018.
Business Outlook
Based on the information available as of the date of this press
release, Yintech provides the following outlook, which reflects the
Company's current and preliminary view and is subject to
change:
2020 First Quarter Guidance
- Revenues from commissions, interest income and other revenues
will be the range of RMB380 million
to RMB400 million.
- Revenues from trading gains will be in the range of
RMB70 million to RMB90 million.
Share Repurchase Program
On May 30, 2019, the Company
announced a share repurchase program whereby Yintech is authorized
to repurchase up to US$20 million of
its issued and outstanding ADSs during the following 12-month
period. As of December 31, 2019, the
Company had purchased an aggregate of 274,970 ADSs for a total
amount slightly over US$1,342
thousand since June 1,
2019.
Dividend
Yintech's board of directors has approved a dividend of
US$0.30 per ADS for full year 2019.
Such amount includes a regular annual dividend of US$0.10 per ADS (equivalent to approximately 40%
of the Company's consolidated net profit), plus a special dividend
of US$0.20 per ADS, which is expected
to be paid on or around April 15,
2020 to shareholders of record as of the close of business
on March 31, 2020.
The Company maintains a strong commitment to creating value for
its shareholders through dividends, while the timing, amount and
form of future dividends, will depend on, among other things, the
Company's future results of operations and cash flow, capital
requirements and surplus, the amount of distributions, if any,
received by the Company from its subsidiaries, financial condition,
contractual restrictions and other factors deemed relevant by the
Company's board of directors.
Discussion of Non-GAAP Financial Measures
In addition to disclosing financial results prepared in
accordance with U.S. GAAP, the Company's earnings release contains
non-GAAP financial measures that exclude the effects of all forms
of share-based compensation, as well as impairment and amortization
of intangible assets and/or goodwill in relation to the
acquisition of Gold Master. The reconciliation of these non-GAAP
financial measures to the nearest GAAP measures is set forth in the
table captioned "Reconciliation of GAAP to Non-GAAP Results"
below.
The non-GAAP financial measures disclosed by the Company should
not be considered a substitute for financial measures prepared in
accordance with U.S. GAAP. The financial results reported in
accordance with U.S. GAAP and reconciliation of GAAP to non-GAAP
results should be carefully evaluated. The non-GAAP financial
measure used by the Company may be prepared differently from, and
therefore may not be comparable to, similarly titled measures used
by other companies.
When evaluating the Company's operating performance in the
periods presented, management reviewed the non-GAAP net income and
non-GAAP EPS results reflecting adjustments to exclude the impact
of share-based compensation as well as impairment and amortization
of intangible assets and/or goodwill in relation to the
acquisition of Gold Master to supplement U.S. GAAP financial data.
As such, the Company believes that the presentation of the non-GAAP
net income and the diluted non-GAAP income per ADS provides
important supplemental information to investors regarding financial
and business trends relating to the Company's financial condition
and results of operations in a manner consistent with that used by
management. Pursuant to U.S. GAAP, the Company recognized
significant amounts of expenses for the restricted shares and share
options, as well as amortization of intangible assets in relation
to the acquisition of Gold Master in the periods presented. The
Company utilized the non-GAAP financial results to make financial
results comparable period to period and to better understand its
historical business operations.
Currency Conversion
This announcement contains translations of certain Renminbi
amounts into U.S. dollars at specified rates solely for the
convenience of readers. Unless otherwise noted, all translations
from Renminbi to U.S. dollars were made at the exchange rate
of RMB6.9618 to US$1.00, as set
forth in the H.10 statistical release of the Federal Reserve Board
on December 31, 2019. No representation is intended to
imply that these Renminbi amounts could have been, or could be,
converted, realized or settled into U.S. dollar amounts at such
rate, or at any other rate.
Conference Call Information
The Company will host a conference call to discuss the earnings
at 8:00 a.m. U.S. Eastern Time on
Tuesday, March 17, 2020 (8:00 p.m. Hong Kong Time on the same day).
Dial-in numbers for the live conference call are as follows:
International
|
+1 412 902
4272
|
U.S. Toll
Free
|
+1 888 346
8982
|
Mainland China Toll
Free
|
400 120
1203
|
Hong
Kong
|
+852 3018
4992
|
Hong Kong Toll
Free
|
800 905
945
|
Passcode
|
Yintech
|
A telephone replay of the call will be available after the
conclusion of the conference call through 11:59 p.m. Hong Kong Time, March 24, 2020.
Dial-in numbers for the replay are as follows:
International
Dial-in:
|
1 412 317
0088
|
U.S. Toll
Free:
|
1 877 344
7529
|
Passcode:
|
10139937
|
A live and archived webcast will be available on the Investor
Relations section of Yintech's website at
http://ir.yintech.net/.
Safe Harbor Statement
All statements other than statements of historical fact
contained in this release, including statements regarding future
results of the operations of the Company are forward-looking
statements, which are made under the "safe harbor" provisions of
the U.S. Private Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to a number of risks,
uncertainties and assumptions that could cause actual results to
differ materially. Factors that might cause or contribute to such
differences include, but are not limited to: the Company's ability
to effectively acquire and retain its customers; the Company's
diversification of its business among different commodity
exchanges; the adjustments in commissions and other fees set by
relevant commodity exchanges; the Company's ability to constantly
upgrade its technology platform and software; general market
conditions of online spot commodity trading industry and stock
market; intense competition among service providers in this
industry; the Company's relatively short operating history; the
price of the Company's ADSs and changing market conditions for its
ADSs; acquisition-related risks, including unknown liabilities and
integration risks; as well as those risks detailed from time to
time under the caption "Risk Factors" and elsewhere in the
Company's Securities and Exchange Commission filings and reports,
including in the Company's annual report on Form 20-F for the year
ended December 31, 2018. In addition,
the Company operates in a very competitive and rapidly changing
environment. New risks emerge from time to time. It is not possible
for the management to predict all risks, nor can the Company assess
the impact of all factors on its business or the extent to which
any factor, or combination of factors, may cause actual results to
differ materially from those contained in any forward-looking
statements that the Company may make. In light of these risks,
uncertainties and assumptions, the forward-looking events and
circumstances discussed in this release are inherently uncertain
and may not occur, and actual results could differ materially and
adversely from those anticipated or implied in the forward-looking
statements. Accordingly, you should not rely upon forward-looking
statements as predictions of future events. The Company does not
undertake any obligation to update publicly or revise any
forward-looking statements for any reason after the date of this
release, nor to conform these statements to actual results, future
events, or to changes in the Company's expectations.
About Yintech
Yintech (NASDAQ: YIN) is a leading provider of investment
and trading services for individual investors in China.
Yintech strives to provide best-in-class financial information,
investment tools and services to its customers by leveraging
financial technology and mobile platforms. Currently, Yintech is
focused on the provision of gold and other commodities trading
services, securities advisory services, securities information
platform services, overseas securities trading services and asset
management services.
Operational
Highlights
|
|
|
For the three
months ended
|
|
For the year
ended
|
|
31-Dec-
18
|
30-Sep-
19
|
31-Dec-
19
|
|
31-Dec-
18
|
31-Dec-
19
|
|
|
|
|
|
|
|
Customer trading
volume (in RMB billion)[1]
|
|
|
|
|
|
|
Commodities
services[2]
|
413.8
|
1,017.6
|
693.3
|
|
1,717.5
|
2,516.1
|
Securities
services[3]
|
3.0
|
16.4
|
6.0
|
|
13.2
|
149.5
|
Total
|
416.8
|
1,034.0
|
699.3
|
|
1,730.7
|
2,665.6
|
|
|
|
|
|
|
|
Net commissions
and fees (in RMB
million)
|
|
|
|
|
|
|
Commodities
services[2]
|
152.5
|
325.1
|
257.8
|
|
604.4
|
881.4
|
Securities
services[3]
|
120.9
|
133.6
|
127.6
|
|
337.5
|
518.2
|
Total
|
273.4
|
458.7
|
385.4
|
|
941.9
|
1,399.6
|
|
|
|
|
|
|
|
Effective fee
rate[4]
|
0.038%
|
0.033%
|
0.038%
|
|
0.038%
|
0.036%
|
Commodities
services[5]
Securities
services[6]
|
0.037%
0.179%
|
0.032%
0.080%
|
0.037%
0.113%
|
|
0.035%
0.382%
|
0.035%
0.059%
|
|
|
|
|
|
|
|
Active
accounts[7]
|
20,977
|
27,718
|
26,409
|
|
40,240
|
42,902
|
|
|
|
|
|
|
|
Tradable
accounts[8]
|
126,539
|
144,674
|
151,553
|
|
126,539
|
151,553
|
|
Note
|
[1]
Represents customer trading volume of spot and futures commodities
as well as overseas securities, including
RMB1,017.6 billion in trading volume of spot and futures
commodities in the third quarter of 2019 and RMB693.3
billion in the Fourth Quarter of 2019.
|
[2]
Represents net commissions and fees earned from customer trading of
spot and futures commodities contracts.
|
[3]
Represents net commissions and fees earned by providing securities
advisory services, securities information
platform services, overseas securities trading services and asset
management services to customers.
|
[4]
Represents net commissions and fees from commodities and overseas
securities brokerage services as a
percentage of customer trading volume.
[5]
Represent net commissions and fees from commodities services as a
percentage of customer trading
volume for commodities.
[6]
Represent net commissions and fees from overseas securities
brokerage services as a percentage of customer
trading volume for overseas securities brokerage.
|
[7] Refers
to a regular customer account that executed at least one trade of
spot and futures commodities contracts or
a customer account that executed at least one trade of overseas
securities through us during the period.
|
[8] Refers
to a regular customer account that has been activated for trading
of spot and futures commodities contracts
or a customer account that has been activated for trading of
overseas securities and has remained tradable as of the
end of the given period.
|
Consolidated
Statements of Comprehensive Income
|
In RMB '000, except
otherwise specified
|
|
|
For the Three
Months Ended
|
|
For the year
ended
|
|
31-Dec-18
|
30-Sep-19
|
31-Dec-19
|
|
31-Dec-18
|
31-Dec-19
|
|
|
|
|
|
|
Revenue
|
|
|
|
|
|
|
Commission
|
273,379
|
458,710
|
385,403
|
|
941,868
|
1,399,575
|
Trading gains and
(losses)
|
(9,698)
|
21,637
|
39,085
|
|
34,333
|
207,857
|
Interest
income
|
8,540
|
9,338
|
10,041
|
|
18,128
|
35,000
|
Other
revenues
|
22,956
|
11,561
|
12,622
|
|
100,415
|
49,373
|
|
295,177
|
501,246
|
447,151
|
|
1,094,744
|
1,691,805
|
Expenses
|
|
|
|
|
|
|
Commission
expense
|
(2,012)
|
(113)
|
(93)
|
|
(2,012)
|
(576)
|
Employee compensation
and
benefits
|
(228,896)
|
(215,342)
|
(235,944)
|
|
(808,292)
|
(841,205)
|
Advertising and
promotion expenses
|
(89,008)
|
(92,604)
|
(116,496)
|
|
(223,265)
|
(339,755)
|
Information
technology
and communications
|
(6,705)
|
(5,010)
|
(9,840)
|
|
(32,421)
|
(33,119)
|
Occupancy and
Equipment Expenses
|
(32,669)
|
(22,148)
|
(26,090)
|
|
(115,810)
|
(98,956)
|
Taxes and
surcharges
|
(1,781)
|
(1,591)
|
(1,862)
|
|
(6,455)
|
(5,893)
|
Intangible asset
amortization
|
(13,706)
|
(7,005)
|
(7,047)
|
|
(56,515)
|
(28,053)
|
Impairment of
goodwill
and intangible asset
|
(639,000)
|
-
|
-
|
|
(639,000)
|
-
|
Other
expenses
|
(27,414)
|
(25,480)
|
(32,153)
|
|
(83,334)
|
(85,755)
|
|
(1,041,191)
|
(369,293)
|
(429,525)
|
|
(1,967,104)
|
(1,433,312)
|
|
|
|
|
|
|
|
Profit/(loss)
before
income taxes
|
(746,014)
|
131,953
|
17,626
|
|
(872,360)
|
258,493
|
Income tax
(expenses)/benefit
|
13,776
|
(18,283)
|
(30,563)
|
|
(1,028)
|
(127,925)
|
Net
income/(loss)
|
(732,238)
|
113,670
|
(12,937)
|
|
(873,388)
|
130,568
|
Less: Net
income/(loss)
attributable to
non-controlling interests
|
(4,586)
|
15,646
|
13,577
|
|
(10,350)
|
44,888
|
Net income/(loss)
attributable to Yintech
|
(727,652)
|
98,024
|
(26,514)
|
|
(863,038)
|
85,680
|
Other
comprehensive
income/(loss)
|
(5,933)
|
12,991
|
(10,334)
|
|
22,538
|
3,104
|
Comprehensive
income/(loss)
attributable to Yintech
|
(733,585)
|
111,015
|
(36,848)
|
|
(840,500)
|
88,784
|
|
|
|
|
|
|
|
|
Earnings/(loss)
per
ADS[9](RMB)
|
|
|
|
|
|
|
Basic
|
(10.39)
|
1.35
|
(0.36)
|
|
(12.03)
|
1.17
|
Diluted
|
(10.39)
|
1.30
|
(0.36)
|
|
(12.03)
|
1.14
|
|
|
|
|
|
|
|
Weighted
average
number of shares
('000)
|
|
|
|
|
|
|
Basic
|
1,400,712
|
1,454,572
|
1,456,956
|
|
1,435,147
|
1,459,618
|
Diluted
|
1,400,712
|
1,507,675
|
1,456,956
|
|
1,435,147
|
1,508,309
|
|
|
|
|
|
|
|
Number of
shares
outstanding at the
end of the period
('000)
|
1,428,942
|
1,427,931
|
1,431,079
|
|
1,428,942
|
1,431,079
|
|
[9] Each ADS represents 20 ordinary
shares.
|
Consolidated
Balance Sheets
|
In RMB '000, except
otherwise specified
|
|
|
31-Dec-18
|
30-Sep-19
|
31-Dec-19
|
Assets
|
|
|
|
Cash
|
257,789
|
208,636
|
209,507
|
Entrusted bank
balances held on behalf of
customers
|
73,226
|
52,016
|
89,157
|
Short term
investments
|
1,479,109
|
1,815,836
|
1,895,874
|
Deposits with
clearing organizations
|
34,215
|
20,568
|
20,330
|
Amount due from
related parties
|
25,000
|
20,000
|
20,000
|
Equipment and
leasehold improvements
|
24,316
|
14,797
|
13,844
|
Deferred tax
assets
|
31,239
|
19,177
|
27,206
|
Goodwill
|
637,147
|
637,175
|
637,835
|
Intangible
assets
|
330,247
|
309,213
|
302,613
|
Accounts
receivable
|
180,230
|
219,651
|
164,391
|
Operating lease
right-of-use assets
|
-
|
64,881
|
34,476
|
Other
assets
|
155,648
|
208,821
|
225,302
|
Equity method
investments
|
24,730
|
24,690
|
24,845
|
Total
assets
|
3,252,896
|
3,615,461
|
3,665,380
|
|
|
|
|
Liabilities and
shareholders' equity
|
|
|
|
Amount due to related
parties
|
-
|
3,644
|
4,426
|
Deferred tax
liabilities
|
79,618
|
96,503
|
118,469
|
Income tax
payable
|
95,415
|
155,063
|
171,793
|
Accounts
payable
|
119,469
|
80,516
|
114,552
|
Accrued employee
benefits
|
189,042
|
226,754
|
271,965
|
Operating lease
liabilities
|
-
|
60,147
|
30,846
|
Other
liabilities
|
144,392
|
199,589
|
181,883
|
Total
liabilities
|
627,936
|
822,216
|
893,934
|
|
|
|
|
Equity attributable
to Yintech's shareholder
|
2,517,229
|
2,654,203
|
2,618,550
|
Equity attributable
to non-controlling interests
|
107,731
|
139,042
|
152,896
|
Total
shareholders' equity
|
2,624,960
|
2,793,245
|
2,771,446
|
|
|
|
|
Total liabilities
and shareholders' equity
|
3,252,896
|
3,615,461
|
3,665,380
|
Reconciliation of
GAAP to Non-GAAP Results
|
In RMB '000, except
otherwise specified
|
|
|
For the three
months ended
|
|
For the year
ended
|
|
31-Dec-18
|
30-Sep-19
|
31-Dec-19
|
|
31-Dec-18
|
31-Dec-19
|
|
|
|
|
|
|
|
Net income/(loss)
attributable to
Yintech
|
(727,652)
|
98,024
|
(26,514)
|
|
(863,038)
|
85,680
|
Add: Share-based
compensation
|
5,065
|
3,138
|
3,223
|
|
27,107
|
26,261
|
Add: Amortization of
intangible
assets in relation
to the acquisition of Gold Master,
net of tax effect
|
10,303
|
4,737
|
4,737
|
|
41,212
|
18,948
|
Add: impairment of
goodwill and
intangible assets in relation
to the
acquisition of Gold Master,
net of tax effect
|
605,500
|
-
|
-
|
|
605,500
|
-
|
Non-GAAP net
income/(loss)
attributable to Yintech
|
(106,784)
|
105,899
|
(18,554)
|
|
(189,219)
|
130,889
|
|
|
|
|
|
|
|
Non-GAAP
earnings/(loss) per
ADS[9] (RMB)
|
|
|
|
|
|
|
Basic
|
(1.52)
|
1.46
|
(0.25)
|
|
(2.64)
|
1.79
|
Diluted
|
(1.52)
|
1.40
|
(0.25)
|
|
(2.64)
|
1.74
|
|
|
|
|
|
|
|
[9] Each ADS represents 20 ordinary
shares.
|
For investor and media inquiries, please contact:
Yintech
Yvonne Young
Phone: +86 21 2028 9009 ext 8270
E-mail: ir@yintech.cn
View original
content:http://www.prnewswire.com/news-releases/yintech-reports-fourth-quarter-and-full-year-2019-unaudited-financial-results-301025369.html
SOURCE Yintech Investment Holdings Ltd.