SHANGHAI, Oct. 29, 2019 /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 that it has increased
its earnings guidance for the third quarter of 2019, with
substantial increases in its revenue projections.
Based upon preliminary data, the Company updated the earning
guidance for the third quarter of 2019 as below:
- Revenues from commissions, interest income and other revenues
for the third quarter of 2019, are now expected to be around RMB440 million to RMB460
million as compared to the Company's previous guidance of
RMB380 million to RMB400 million, which was given on August 30, 2019. This represents an expected
increase of 33.7% to 40.0% from the second quarter of 2019 and
74.6% to 82.5% from the third quarter of 2018.
- Revenues from trading gains are now expected to be in the range
of RMB15 million to RMB17 million as compared to the Company's
previous guidance of trading loss of RMB10
million to RMB30 million,
which was given on August 30, 2019.
Trading loss was RMB40 million in the
second quarter of 2019 and trading gains were RMB16 million in the third quarter of 2018.
"I am delighted to report that the demand for our spot
commodities, specifically Gold T+D trading was stronger than our
expectation during the third quarter. As such, we have deployed
more resources and engaged more efforts on offering professional
support to our clients to make the most advantages of the favorable
market trend. We are pleased to see all our efforts were rewarded
in our financial results," said Mr. Wenbin Chen, Chairman and
CEO of Yintech.
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.
For investor and media inquiries, please contact:
Yvonne Young
Phone: +86 21 2028 9009 ext 8270
E-mail: ir@yintech.cn
View original
content:http://www.prnewswire.com/news-releases/yintech-raises-earnings-guidance-for-the-third-quarter-of-2019-300946969.html
SOURCE Yintech Investment Holdings Ltd.