Compared with the profit of 65438+334 million yuan in 20 18, the adjusted net profit of Titanium Gold in 20 19 was a loss of 888.6 million yuan. The reason is that its related party's building block has been scrapped, and the company evaluates that its creditor's rights to the building block are irrecoverable, and all the impairment is included in the current management expenses. If the impairment effect is deducted, the adjusted net profit of Titanium Gold in 20 19 is 20.2 10/000 million yuan, a substantial increase of 50.5% in the same period.
Pinti's business model is to provide financial technology solutions. With its outstanding technical capabilities in big data, artificial intelligence (AI) and process automation (RPA), Pinti has rich practical experience in financial technology in many fields, such as consumer finance, corporate credit, supply chain finance, wealth management and financial process automation, helping cooperative institutions to realize financial digital transformation and business landing quickly and efficiently, and enhance competitiveness and customer value.
What does it mean to issue such a performance report? What impact will it have on the company?
0 1 surface: cut the gordian knot, and the P2P association devalues at one time.
The most concerned data of financial report is net profit. The data shows that the long-term partner of titanium building block P2P announced his retirement, which means that the company assessed that the creditor's rights of the building block were irrecoverable, and all the impairment was included in the current management expenses, resulting in a substantial increase in operating expenses, which in turn led to an adjusted net profit (calculated according to US GAAP Non-Gapp) of 888.6 million yuan.
Although the amount of-888.6 million yuan is staggering, the author learned from the investor conference call that this impairment impact is one-off. If this influence is deducted, the adjusted net profit of Titanium Gold in 20 19 is 20.2 10 billion yuan, which is 50.5% higher than that in 20 18. In addition, the titanium content is 20 19.
In recent years, the supervision of loan assistance business and P2P business tends to be mature, many technology and financial companies are undergoing transformation, and the market is generally not optimistic about P2P business. On the surface, Pintu's one-time provision of all creditor's rights losses is due to prudent accounting considerations, on the other hand, it is also a kind of quick success and instant benefit, which cuts off the past contact with P2P at one time, resulting in "unsightly" financial report data. The interaction between titanium and building blocks was once an important factor affecting the external perception of the company, and the one-time impairment adjustment also eliminated this negative factor.