SEC Filings

Form 20-F
YIRENDAI LTD. filed this Form 20-F on 04/24/2017
Document Outline
Entire Document (8518 KB)
Subdocument 1 - 20-F - 20-F
Page 1 - UNITED STATES
Page 2 - N/A
Page 3 - TABLE OF CONTENTS
Page 4 - INTRODUCTION
Page 5 - FORWARD-LOOKING INFORMATION
Page 6 - PART I
Page 7 - Exchange Rate Information
Page 8 - B.
Page 9 - If we are unable to maintain or increase the volume of loan transactions facilitated through our mar
Page 10 - The laws and regulations governing the online lending information intermediary service industry in C
Page 11 - If our practice is deemed to violate any PRC laws, rules or regulations, our business, financial con
Page 12 - If our business arrangements with certain institutional investors were deemed to violate PRC laws an
Page 13 - If we are unable to maintain low default rates for loans facilitated by our platform, our business a
Page 14 - We have limited experience operating our quality assurance program. If it is under- or over-funded,
Page 15 - If we do not compete effectively, our results of operations could be harmed.
Page 16 - If we fail to promote and maintain our brand in an effective and cost-efficient way, our business an
Page 17 - Any harm to our brand or reputation or any damage to the reputation of the online consumer finance m
Page 18 - We have incurred net losses in the past and may incur net losses in the future.
Page 19 - Failure to manage our liquidity and cash flows may materially and adversely affect our financial con
Page 20 - Fraudulent activity on our marketplace could negatively impact our operating results, brand and repu
Page 21 - Fluctuations in interest rates could negatively affect transaction volume.
Page 22 - Our ability to protect the confidential information of our borrowers and investors may be adversely
Page 23 - Our operations depend on the performance of the internet infrastructure and fixed telecommunications
Page 24 - We may not be able to prevent others from unauthorized use of our intellectual property, which could
Page 25 - From time to time we may evaluate and potentially consummate strategic investments or acquisitions,
Page 26 - Our business depends on the continued efforts of our senior management. If one or more of our key ex
Page 27 - If we cannot maintain our corporate culture as we grow, we could lose the innovation, collaboration
Page 28 - Our financial information included in this annual report may not be representative of our financial
Page 29 - Our agreements with CreditEase may be less favorable to us than similar agreements negotiated betwee
Page 30 - Non-competition arrangements with CreditEase
Page 31 - Our executive chairman, Mr. Ning Tang, has considerable influence over us and our corporate matters.
Page 32 - We rely on contractual arrangements with Heng Cheng and Yi Ren Wealth Management, our consolidated v
Page 33 - Any failure by Heng Cheng or Yi Ren Wealth Management, our consolidated variable interest entities,
Page 34 - Contractual arrangements in relation to Heng Cheng and Yi Ren Wealth Management, our consolidated va
Page 35 - If the chops of Heng Ye and Heng Yu Da, our PRC subsidiaries, and Heng Cheng and Yi Ren Wealth Manag
Page 36 - Uncertainties in the interpretation and enforcement of Chinese laws and regulations could limit the
Page 37 - We may be adversely affected by the complexity, uncertainties and changes in PRC regulation of inter
Page 38 - N/A
Page 39 - Any failure by us or our third-party service providers to comply with applicable anti-money launderi
Page 40 - PRC regulation of loans to and direct investment in PRC entities by offshore holding companies and g
Page 41 - Fluctuations in exchange rates could have a material adverse effect on our results of operations and
Page 42 - Governmental control of currency conversion may limit our ability to utilize our net revenues effect
Page 43 - The M A Rules and certain other PRC regulations establish complex procedures for some acquisitions o
Page 44 - Any failure to comply with PRC regulations regarding the registration requirements for employee stoc
Page 45 - Discontinuation of preferential tax treatment or imposition of any additional taxes could adversely
Page 46 - The audit report included in this annual report is prepared by an auditor who is not inspected by th
Page 47 - If additional remedial measures are imposed on the big four PRC-based accounting firms, including ou
Page 48 - Risks Related to our American Depositary Shares
Page 49 - If securities or industry analysts do not publish research or publish inaccurate or unfavorable rese
Page 50 - You, as holders of ADSs, may have fewer rights than holders of our ordinary shares and must act thro
Page 51 - Your right to participate in any future rights offerings may be limited, which may cause dilution to
Page 52 - Certain judgments obtained against us by our shareholders may not be enforceable.
Page 53 - Our memorandum and articles of association contain anti-takeover provisions that could discourage a
Page 54 - As a company incorporated in the Cayman Islands, we are permitted to adopt certain home country prac
Page 55 - We will incur increased costs as a result of being a public company, particularly after we cease to
Page 56 - B.
Page 57 - Our Solution
Page 58 - Our Borrowers
Page 59 - Our Investors
Page 60 - Investor Profile and Base
Page 61 - FastTrack Loan Products
Page 62 - Self-directed investing tool
Page 63 - Our Platform and the Transaction Process
Page 64 - Stage 3: Anti-Fraud, Credit Assessment and Decisioning
Page 65 - Stage 5: Servicing and Collections
Page 66 - N/A
Page 67 - N/A
Page 68 - Our Risk Management Committee, Risk Management Division and Credit Assessment Team
Page 69 - N/A
Page 70 - Our Technology
Page 71 - Competition
Page 72 - Seasonality
Page 73 - Foreign Investment in Value-Added Telecommunication Services
Page 74 - Regulations on Illegal Fund-Raising
Page 75 - Regulations on Online Lending Information Intermediary Service Provider
Page 76 - Anti-money Laundering Regulations
Page 77 - Regulations on Value-Added Telecommunication Services
Page 78 - Regulations on Privacy Protection
Page 79 - Regulations on Intellectual Property Rights
Page 80 - Regulations Relating to Foreign Exchange
Page 81 - Regulations on Stock Incentive Plans
Page 82 - Regulations Relating to Employment
Page 83 - Contractual Arrangements with Heng Cheng and Yi Ren Wealth Management
Page 84 - Contractual Arrangements with Heng Cheng
Page 85 - Loan Agreements
Page 86 - Agreement that Allows us to Receive Economic Benefits from Yi Ren Wealth Management
Page 87 - D.
Page 88 - Item 4A.
Page 89 - Ability to Acquire Borrowers and Investors Effectively
Page 90 - Product Mix and Pricing
Page 91 - Regulatory Environment in China
Page 92 - M3+ Net Charge-off Rates
Page 93 - N/A
Page 94 - Selected Statements of Operations Items
Page 95 - N/A
Page 96 - Transaction fees
Page 97 - Service fees
Page 98 - Origination and servicing expenses
Page 99 - Taxation
Page 100 - China
Page 101 - Year Ended December 31, 2016 Compared to Year Ended December 31, 2015
Page 102 - Interest income.
Page 103 - Income tax expense
Page 104 - N/A
Page 105 - Revenue Recognition
Page 106 - Multiple element revenue recognition
Page 107 - Revenue from post-origination services
Page 108 - Fair Value of Quality Assurance Program
Page 109 - Fair Value of Loans and Payable to Investors at Fair Value
Page 110 - Income Taxes
Page 111 - B.
Page 112 - N/A
Page 113 - Operating Activities
Page 114 - Investing Activities
Page 115 - Capital Expenditures
Page 116 - D.
Page 117 - G.
Page 118 - Mr. Quan Zhou
Page 119 - Ms. Chaomei Chen
Page 120 - B.
Page 121 - Share Incentive Plan
Page 122 - Acceleration of Awards upon Change in Control
Page 123 - Compensation Committee
Page 124 - Terms of Directors and Executive Officers
Page 125 - E.
Page 126 - Item 7.
Page 127 - B.
Page 128 - Transitional Services Agreement
Page 129 - Cooperation Framework Agreement
Page 130 - Transactions with CreditEase Affiliated Entities
Page 131 - Contractual Arrangements with Heng Cheng, Yi Ren Wealth Management and Their Respective Shareholders
Page 132 - Dividend Policy
Page 133 - B.
Page 134 - Objects of Our Company
Page 135 - Liquidation
Page 136 - Issuance of Additional Shares
Page 137 - Election and Removal of Directors
Page 138 - Exempted Company
Page 139 - C.
Page 140 - N/A
Page 141 - United States Federal Income Tax Considerations
Page 142 - Passive Foreign Investment Company Considerations
Page 143 - Sale or Other Disposition of ADSs or Ordinary Shares
Page 144 - N/A
Page 145 - Information Reporting
Page 146 - I.
Page 147 - Item 12.
Page 148 - Fees and Other Payments Made by the Depositary to Us
Page 149 - Item 14.
Page 150 - Changes in Internal Control over Financial Reporting
Page 151 - Item 16G.
Page 152 - N/A
Page 153 - N/A
Page 154 - N/A
Page 155 - SIGNATURES
Page 156 - YIRENDAI LTD.
Page 157 - YIRENDAI LTD.
Page 158 - YIRENDAI LTD.
Page 159 - YIRENDAI LTD.
Page 160 - YIRENDAI LTD.
Page 161 - YIRENDAI LTD.
Page 162 - YIRENDAI LTD.
Page 163 - YIRENDAI LTD.
Page 164 - N/A
Page 165 - YIRENDAI LTD.
Page 166 - YIRENDAI LTD.
Page 167 - YIRENDAI LTD.
Page 168 - YIRENDAI LTD.
Page 169 - YIRENDAI LTD.
Page 170 - YIRENDAI LTD.
Page 171 - YIRENDAI LTD.
Page 172 - YIRENDAI LTD.
Page 173 - YIRENDAI LTD.
Page 174 - YIRENDAI LTD.
Page 175 - YIRENDAI LTD.
Page 176 - Fair value
Page 177 - YIRENDAI LTD.
Page 178 - YIRENDAI LTD.
Page 179 - YIRENDAI LTD.
Page 180 - YIRENDAI LTD.
Page 181 - YIRENDAI LTD.
Page 182 - YIRENDAI LTD.
Page 183 - N/A
Page 184 - N/A
Page 185 - YIRENDAI LTD.
Page 186 - YIRENDAI LTD.
Page 187 - YIRENDAI LTD.
Page 188 - YIRENDAI LTD.
Page 189 - YIRENDAI LTD.
Page 190 - YIRENDAI LTD.
Page 191 - YIRENDAI LTD.
Page 192 - YIRENDAI LTD.
Page 193 - YIRENDAI LTD.
Page 194 - Restricted Share Units
Page 195 - YIRENDAI LTD.
Page 196 - YIRENDAI LTD.
Page 197 - Contingencies
Page 198 - YIRENDAI LTD.
Page 199 - YIRENDAI LTD.
Page 200 - YIRENDAI LTD.
Page 201 - YIRENDAI LTD.
Page 202 - YIRENDAI LTD.
Subdocument 2 - EX-4.16 - EX-4.16
Page 1 - Exhibit 4.16
Page 2 - N/A
Page 3 - N/A
Page 4 - N/A
Page 5 - N/A
Page 6 - N/A
Page 7 - N/A
Page 8 - N/A
Page 9 - N/A
Page 10 - Loan Agreement
Page 11 - N/A
Page 12 - N/A
Page 13 - N/A
Page 14 - N/A
Page 15 - N/A
Page 16 - N/A
Page 17 - N/A
Page 18 - N/A
Page 19 - Loan Agreement
Page 20 - N/A
Page 21 - N/A
Page 22 - N/A
Page 23 - N/A
Page 24 - N/A
Page 25 - N/A
Page 26 - N/A
Page 27 - IN WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this Loan Ag
Subdocument 3 - EX-4.17 - EX-4.17
Page 1 - Exhibit 4.17
Page 2 - N/A
Page 3 - N/A
Page 4 - N/A
Page 5 - N/A
Page 6 - N/A
Page 7 - N/A
Page 8 - N/A
Page 9 - N/A
Page 10 - N/A
Page 11 - The Remainder of this page is intentionally left blank
Page 12 - Party A:
Page 13 - Attachments:
Page 14 - Equity Interest Pledge Agreement
Page 15 - N/A
Page 16 - N/A
Page 17 - N/A
Page 18 - N/A
Page 19 - N/A
Page 20 - N/A
Page 21 - N/A
Page 22 - N/A
Page 23 - N/A
Page 24 - The Remainder of this page is intentionally left blank
Page 25 - Party A:
Page 26 - Attachments:
Page 27 - Equity Interest Pledge Agreement
Page 28 - N/A
Page 29 - N/A
Page 30 - N/A
Page 31 - N/A
Page 32 - N/A
Page 33 - N/A
Page 34 - N/A
Page 35 - N/A
Page 36 - N/A
Page 37 - The Remainder of this page is intentionally left blank
Page 38 - Party A:
Page 39 - Attachments:
Subdocument 4 - EX-4.18 - EX-4.18
Page 1 - Exhibit 4.18
Page 2 - N/A
Page 3 - N/A
Page 4 - Power of Attorney
Page 5 - N/A
Page 6 - Yiren Financial Information Services (Beijing) Co., Ltd.
Page 7 - Power of Attorney
Page 8 - N/A
Page 9 - Accepted by: Chongqing Hengyuda Technology Co., Ltd.
Subdocument 5 - EX-4.19 - EX-4.19
Page 1 - Exhibit 4.19
Page 2 - Services Provided by Party A
Page 3 - The Calculation and Payment of the Service Fee
Page 4 - Intellectual Property Rights and Confidentiality Clauses
Page 5 - Representations and Warranties
Page 6 - Term
Page 7 - Breach of Agreement and Indemnification
Page 8 - Notices
Page 9 - Assignment
Page 10 - IN WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this Exclusi
Subdocument 6 - EX-4.20 - EX-4.20
Page 1 - Exhibit 4.20
Page 2 - Steps for Exercise of the Equity Interest Purchase Option
Page 3 - Covenants regarding Party C
Page 4 - Covenants
Page 5 - N/A
Page 6 - N/A
Page 7 - Governing Law
Page 8 - N/A
Page 9 - Amendments, changes, and supplements
Page 10 - Headings
Page 11 - N/A
Page 12 - Exclusive Option Agreement
Page 13 - Steps for Exercise of the Equity Interest Purchase Option
Page 14 - Covenants regarding Party C
Page 15 - Covenants
Page 16 - N/A
Page 17 - N/A
Page 18 - Governing Law
Page 19 - N/A
Page 20 - Amendments, changes, and supplements
Page 21 - Headings
Page 22 - N/A
Page 23 - Exclusive Option Agreement
Page 24 - Steps for Exercise of the Equity Interest Purchase Option
Page 25 - Covenants regarding Party C
Page 26 - Covenants
Page 27 - N/A
Page 28 - N/A
Page 29 - Governing Law
Page 30 - N/A
Page 31 - Amendments, changes, and supplements
Page 32 - Headings
Page 33 - IN WITNESS WHEREOF, the authorized representatives of the Parties have executed this Exclusive Optio
Subdocument 7 - EX-8.1 - EX-8.1
Page 1 - EXHIBIT 8.1
Subdocument 8 - EX-12.1 - EX-12.1
Page 1 - EXHIBIT 12.1
Subdocument 9 - EX-12.2 - EX-12.2
Page 1 - EXHIBIT 12.2
Subdocument 10 - EX-13.1 - EX-13.1
Page 1 - EXHIBIT 13.1
Subdocument 11 - EX-13.2 - EX-13.2
Page 1 - EXHIBIT 13.2
Subdocument 12 - EX-15.1 - EX-15.1
Page 1 - EXHIBIT 15.1
Subdocument 13 - EX-15.2 - EX-15.2
Page 1 - Exhibit 15.2
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