Beijing November 26, 2019 / PRNewswire / – China’s leading Internet company car easy car Holdings Limited (NYSE: BITA) today released its 2019 September 30 Japan’s fiscal year 2019 third quarter results.
2019 fiscal third quarter results highlight
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the third quarter of 2019. Revenue [123 ] was 2.541 billion yuan (about US $ 356 million), compared with operating income of 2.725 billion yuan (about US $ 381 million).
- the third quarter of 2019.
Gross profit was 1.576 billion yuan (about US $ 221 million), compared with gross profit of 1.671 billion yuan (about 234 million USD).
- the third quarter of 2019,
a net loss of to 162 million yuan (about US $ 22.6 million), compared with a net loss of RMB 2,010 million (approximately 2.8 million USD). Not according to GAAP (Non-GAAP) basis, third quarter 2019 profit to 109 million yuan (about US $ 15.3 million), a year ago do not follow GAAP net income for the count 345 million yuan (approximately US $ 4,830 million).
- the third quarter of 2019.
easy car belonging to a net loss of to 165 million yuan (about US $ 23 million), compared with a net attributable to easy car loss of RMB 2,670 million (approximately US $ 3.7 million). Not according to GAAP (Non-GAAP) basis, third quarter 2019 easy car company net profit attributable to the of RMB 5,190 million (approximately US $ 7.3 million), a year ago not follow US generally accepted accounting guidelines dollars, net profit attributable to easy car to 266 million yuan (approximately US $ 3,720 million).
easy car company firstCEO Mr. Zhang Xuan, said: “China’s car sales fell more than fifteen months has been going on, which makes car manufacturers and distributors of advertising and marketing budgets put more cautious this impact, total revenue in the third quarter 2019 easy car RMB. 2.541 billion yuan. However, our transaction services business in this environment continues to grab market share, third quarter 2019 revenue reached 1.42 billion yuan, an increase of 3.9 percentage. “
” since the fourth quarter of last year Easy since the car APP upgrade and facelift, we are continuing to enhance the quality, quantity mobile terminal traffic and sales leads, according to research data QuestMobile, the October 2019 daily active users easy car of APP (DAU) increased by about 255 percentage, the total DAU easy car APP and APP Daquan car quotes in the same period increased by more than 55 percentage of the total amount of sales leads, the three quarter grew more than 6 percentage, in which high-quality virgin and continue to raise the proportion of sales leads, has more than 60 percentage. At the same time, the quality of our leads is also rising, a single store to store conversion and transfer deal Rates rising steadily. “
” The new business areas successfully expand in the third quarter of 2019, early 2019 launch of the artificial intelligence technology marketing solutions for automobile manufacturers continue to gain positive feedback from customers. At the same time, gradually widening two easy car level dealer network now covers more than 30,003 one thousand two dealers customers. as of October 2019, two dealers pay users has more than 4,000 4 one hundred. “
” to strengthen the car users easy car brand awareness, we recently increased strategic marketing investment. this will help our customers expand coverage, improve the customer’s car manufacturers and distributors put in effect. in the long run, by the customer will gradually reduce costs. we believe consumers will be easy to drive and majority owner of the hearts of obtaining vehicle information and service platform of choice. “
” in the transaction services business, Yi-hsin help further expand loan business, 2019 in the third quarter, stipend and loan business transaction volume increased 213 percentage, accounting for 73 percentage of the total trading volume of Xin Yi. Yi-hsin continue to strengthen risk control management in the third quarter, to better respond to Chinese economic growth Long slowdown situation and the new regulatory environment
Mr. Zhang Xuan added: “ExhibitionLooking ahead, we will continue to focus on the implementation of the core strategy. First, we continue to optimize the quality of sales leads easy car to help automobile manufacturers and dealers advertising customers improve ROI. Second, we will continue to develop artificial intelligence technology marketing solutions provide customized, high-effect marketing tool for car manufacturers, it is expected end of this year to cover all major manufacturers. Third, continue to optimize the revenue structure of the business membership and improve penetration of value-added Deluxe Edition and Deluxe Edition member services, while expanding 4S shops and two dealers network coverage. Fourth, Yi-hsin will continue to help the development of loan business, strengthen risk control management, provide better quality, extensive product and service. “
easy car company’s chief financial officer Xu Ming said:” The car is easy to continue to invest more resources in the third quarter, optimize content and user interaction, enhance the quantity and quality of sales leads. Easy car in the car to strengthen the brand image of the user in mind, we launched a new marketing and branding plan. Although these investments in the short term will increase our operating costs, but in the long run, will help to further reduce easy car-acquisition costs and enhance product competitiveness. We are confident that the car can be easy to continue to bring high-value customers for automotive manufacturers and dealers of products and services to meet customer demands under the current environment for advertising spending ROI. “
The latest number of shares outstanding and the weighted average number of shares
As of September 30, 2019, the Company issued a total of 73,761,089 shares of common stock. The third quarter of 2019, not according to GAAP (Non-GAAP) basis, the weighted average number of shares basic and diluted earnings per American depositary shares of employed is 71,276,919 and 72,349,488. per American depositary share represents one ordinary share of the company .
Xin Yi 2019 fiscal third-quarter operating and financial profiles
Xin Yi is easy car Holdings subsidiary, is the operator easy car transaction services business. 2019 third quarter, Yi-hsin continue to help the development of loan business, to further strengthen risk control management, in order to better cope with a slowdown in China’s situation and the new regulatory environment.
2019 third quarter, Yi-hsin business achieved growth above the industry levelLong, self-help and personal loan business financing business contributed a total of about 120,008 financing deals thousand units, about 4 percentage of total financing up to reach 9.7 billion yuan (about US $ 1.36 billion). China Automobile Industry Association and the China Automobile Dealers Association figures show that in 2019 China the third quarter of total new and used car sales fell by about 2 percentage during the same period.
2019 third quarter, Yi-hsin, while continuing to help the development of loan business, to further strengthen the partnership and cooperation of banks and financial institutions, including auto finance companies, including 12 banks and financial institutions facilitate financing transactions of about 90,004 thousand units, an increase of the percentage reached 213, accounting for about 73 percent of the total volume of financial transactions Yi-hsin 2019 third quarter.
the third quarter of 2019, according to US GAAP basis, total revenue reached Yi-hsin 1.42 billion yuan (about US $ 199 million), an increase of 3.1 percentage. The current core business in new revenue, including new self-help loan business and finance lease transaction revenue reached 752 million yuan (about US $ 105 million), an increase of 15.6 percentage.
As of September 30, 2019, Yi-hsin loan business and self-help contain financial leasing business, including all business for more than 90 days (including more than 180 days) and the rate of overdue more than 180 days overdue rates were 1.29 percentage and 0.66 percentage.
latest developments
November 15, 2019, easy car and Tencent Holdings Limited (SEHK: 00700, hereinafter referred to as “Tencent”) agree on shareholders’ voting rights commission agreement. The agreement includes, easy car Tencent authorized under the terms and conditions set forth, exercised on behalf of a certain amount of Tencent Holdings Limited held by Yi-hsin (SEHK: 2858, hereinafter referred to as “Xin Yi”) of the voting stock . Under the agreement, Yi-hsin’s financial performance will continue into the financial statements of easy car. Tencent and easy car unless the two sides issued a written document proposes to terminate the shareholders’ right to vote the trust agreement 16 November 2019 to 16 November 2020, effective on the day that since 2020 November 16 automatic one-year extension.
2019 FYFourth-quarter results expected
easy car company now expects fourth quarter 2019 revenue of between 2.45 billion yuan (about US $ 343 million) and 2.55 billion yuan (about US $ 357 million) between .
this is expected considering the seasonal factors and easy car company’s business and excludes the impact of currency may bring, at the same time reflects the current preliminary views of management, it may change.
on easy car Holdings Limited
easy car Holdings Limited (NYSE: BITA) is China’s rapidly growing automotive industry-leading Internet content and marketing services and transaction services provider. Easy car business is divided into three sections: advertising and membership services, transaction services business and digital marketing services.
easy car advertising with members’ business by bitauto.com website and mobile application platform for car manufacturers to provide a variety of advertising services, and provide consumers with the latest car quotes, promotions, Specifications, reviews and consumer feedback. Easy car at the same time by Yi-hsin online platform for car manufacturers, car dealers, auto finance and insurance companies and other business partners, car dealers offer revolves around online advertising and promotional services. Easy car also implemented by Member Services SaaS platform for auto dealers to provide digital mobile from PC-to-end integrated marketing solutions. Dealer members to be on the SaaS platform to build online exhibition, published price and promotional information, contact the dealer offers, for advertising and other operations, and customer relationship management can be performed through the platform, grab the majority of the intention to buy customers, its efficient automotive Internet marketing.
easy car transaction services business primarily through its majority-owned subsidiary, Yi Xin Holdings Limited (SEHK: 2858) to carry out operations, Yi-hsin is the leading Internet car finance trading platform, providing trading platform and self-financing business.
easy car’s digital marketing services business provides a one-stop digital marketing services to car manufacturers, including website construction and maintenance, Internet public relations, marketing, advertising agency services, big data applications and digital imaging business.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are based on the 1995 Private Securities Litigation Reform Act (U.S. Private Securities Litigation Reform Act of 1995) in terms of the “safe harbor” to make. These forward-looking statements can be identified by the “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and other similar terminology to identify statements, etc. . In addition, the future outlook in this announcement, as well as easy car quote management of strategic and operational plan contains forward-looking statements. Easy car in periodic reports filed with the US Securities and Exchange Commission annual reports to shareholders, press releases, as well as its officers, directors or employees to third parties to provide written and oral statements, may also make written or oral the forward-looking statements. All statements that are not historical facts, including statements about the beliefs and easy car expected, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors may cause actual results to easy car to the content contained in any forward-looking statements to be materially different, including, but not limited to, the objectives and strategies of the following ︰ easy car; future business development; financial condition and results of operations; about China expected the automotive industry and the Internet marketing industry conditions; the expected demand for the company’s products, services and service model and degree of market acceptance; the company is expected to strengthen brand awareness; the company with key customers, partner websites, the media service provider maintain and strengthen business partnerships expected; the industry, car purchase and hold relevant government policies and regulations; the ability to retain and attract high-quality employees; the company adapt to industry trends, ability to maintain its technological advancement; from China and overseas competition in the industry; general economic and business conditions in China; the effective protection of intellectual property and not against the company the ability to intellectual property of others. Further information regarding these and other risks is contained in documents filed with the easy car US Securities and Exchange Commission, including the Annual Report 20-F. Except as otherwise required by applicable law, all information provided in this announcement and its annex as of the effective date of this announcement, because of new information, future events or otherwise easy car does not undertake any obligation to update forward-looking statements.
about the non-GAAP financialDiscuss business indicators
easy car’s performance announcement contains non-GAAP financial indicators, including not follow US GAAP basis net income, and do not follow GAAP basis attributable to easy car net profit, as a supplement to US GAAP financial data.
not according to GAAP net count, and not according to the count GAAP net profit attributable to the vehicle easily, respectively, by the net loss and net loss attributable to the car company removed easily calculated from the following impact : (i) equity-based compensation expense, (ii) acquisition-related amortization of intangible assets, (iii) for using the equity method investment companies provision for investment losses, (iv) impairment losses on equity investments, (v) may BCF convertible bond discount amortization provision, (vi) and non-tax impact related by GAAP accruals.
The company believes that the aforementioned do not follow GAAP basis financial data, can affect the results excluding non-operating factors, including non-cash items and non-recurring items, enable management to better assess operating performance. The company also believes that the foregoing lists are not counted under US GAAP financial data, but also provide insight into the company’s financial condition and results of important additional information for investors.
investors should pay attention to not follow US GAAP financial data usage meter has its limitations. The financial data excluding the impact of certain factors, and these factors actually occurred and may occur again in the future in the past, and is not reflected in the financial data presentation materials do not follow GAAP basis in. Not according to GAAP basis financial data should be used simultaneously with the company’s financial data prepared in accordance with GAAP, and should not be considered as a replacement financial measures not prepared in accordance with GAAP. In addition, the company used financial indicators do not follow GAAP terms may differ from other companies similarly titled measures used, and therefore may not be comparable.
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