Jianpu Technology Inc. (NYSE:JT) Q3 2019 Earnings Conference Call - Final Transcript
Dec 09, 2019 • 08:00 am ET
Hello and welcome to Jianpu Technology Inc.'s Third Quarter 2019 Earnings Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Liting Lu, Jianpu's Investor Relations. Please go ahead.
Thank you, operator. Please note that discussion today will contain forward-looking statements relating to future performance of the company. These statements are within the meaning of the safe harbor provisions of the US Private Securities Litigation Reform Act. Such statements are not guarantees of future performance and are subject to certain risks and uncertainties, assumptions and other factors. Some of these risks are beyond the company's control and could cause actual results to differ materially from those mentioned in today's press release and this discussion. A general discussion of the risk factors that could affect Jianpu's business and financial results is included in certain filings of the company with the Securities and Exchange Commission.
The company does not undertake any obligations to update the forward-looking information, except as required by law. During today's call, management will also discuss certain non-GAAP financial measures for comparison purpose only. For a definition of the non-GAAP financial measures and a reconciliation of GAAP to non-GAAP financial results, please see our third quarter 2019 earnings press released issued earlier today via wire services and also posted in the Investor Relations section of our website. As a reminder, this conference is being recorded. A live webcast and the replay of this conference call will be available on Jianpu website at ir.jianpu.ai.
Joining us today on the call from Jianpu's Senior Management are Mr. David Ye, Co-Founder, Chairman and CEO and Mr. Oscar Chen, CFO.
I will now turn the call over to Mr. Ye, who will provide an overview of the company as well as the performance highlights of the third quarter. Mr. Chen will then provide details on the company's financial results and the business outlook before opening the call for your questions. Mr. Ye, please go ahead.
Thank you Luting. Hello, everyone, and thank you for joining us on our call today. We are pleased to report another quarter aligning with our mission to become everyone's financial partner. This quarter Jianpu has beaten guidance and we have exceeded our guidance for the past nine consecutive quarters since our IPO amidst the challenging macroeconomic environment and the uncertainties in China's retail financial industry.
The 18 months loan trade disputes has heightened the risk of an economic slowdown. The growth of China has slowdown to over 20-year low. Overall slowdown of macro economy and credit tightening continues to put downward pressure on consumer and SME lending. According to PBoC the Central Bank, the growth of the retail consumer loans significantly slowed down in the first half of 2019 with incremental volume, less than 30% of the second half of 2018. The licensed non-bank financial companies or NBFC. New loan disbursement in Q3, was almost flat with 0.02% increase compared to Q2, moreover, the increase of short-term loan disbursement by