SEC Filings

Form 20-F
YIRENDAI LTD. filed this Form 20-F on 04/30/2018
Document Outline
Entire Document (9014.7 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. Capitalization and Indebtedness
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 - N/A
Page 13 - N/A
Page 14 - N/A
Page 15 - If our business arrangements with certain institutional investors were deemed to violate PRC laws an
Page 16 - If the combination of the interest and transaction fees charged to the borrower on a loan is deemed
Page 17 - If we are unable to maintain low default rates for loans facilitated by our platform, our business a
Page 18 - If our loan products do not achieve sufficient market acceptance, our financial results and competit
Page 19 - Our business depends on our ability to collect payment on and service the transactions we facilitate
Page 20 - If we fail to promote and maintain our brand in an effective and cost-efficient way, our business an
Page 21 - Any harm to our brand or reputation or any damage to the reputation of the online consumer finance m
Page 22 - We have incurred net losses in the past and may incur net losses in the future.
Page 23 - Failure to manage our liquidity and cash flows may materially and adversely affect our financial con
Page 24 - Fraudulent activity on our marketplace could negatively impact our operating results, brand and repu
Page 25 - Fluctuations in interest rates could negatively affect transaction volume.
Page 26 - Our ability to protect the confidential information of our borrowers and investors may be adversely
Page 27 - Our operations depend on the performance of the internet infrastructure and fixed telecommunications
Page 28 - Our platform and internal systems rely on software that is highly technical, and if it contains unde
Page 29 - From time to time we may evaluate and potentially consummate strategic investments or acquisitions,
Page 30 - Our business depends on the continued efforts of our senior management. If one or more of our key ex
Page 31 - If we cannot maintain our corporate culture as we grow, we could lose the innovation, collaboration
Page 32 - Our financial information included in this annual report may not be representative of our financial
Page 33 - Our agreements with CreditEase may be less favorable to us than similar agreements negotiated betwee
Page 34 - Our executive chairman, Mr. Ning Tang, has considerable influence over us and our corporate matters.
Page 35 - We are a controlled company within the meaning of the NYSE Listed Company Manual and, as a result, w
Page 36 - We rely on contractual arrangements with Heng Cheng and Yi Ren Wealth Management, our consolidated v
Page 37 - Any failure by Heng Cheng or Yi Ren Wealth Management, our consolidated variable interest entities,
Page 38 - Contractual arrangements in relation to Heng Cheng and Yi Ren Wealth Management, our consolidated va
Page 39 - If the chops of Heng Ye and Heng Yu Da, our PRC subsidiaries, and Heng Cheng and Yi Ren Wealth Manag
Page 40 - Substantial uncertainties exist with respect to the enactment timetable, interpretation and implemen
Page 41 - We may be adversely affected by the complexity, uncertainties and changes in PRC regulation of inter
Page 42 - N/A
Page 43 - Any failure by us or our third-party service providers to comply with applicable anti-money launderi
Page 44 - PRC regulation of loans to and direct investment in PRC entities by offshore holding companies and g
Page 45 - Fluctuations in exchange rates could result in foreign currency exchange losses and have a material
Page 46 - Governmental control of currency conversion may limit our ability to utilize our net revenues effect
Page 47 - PRC regulations relating to offshore investment activities by PRC residents may limit our PRC subsid
Page 48 - If we are classified as a PRC resident enterprise for PRC income tax purposes, such classification c
Page 49 - We may not be able to obtain certain benefits under relevant tax treaty on dividends paid by our PRC
Page 50 - The audit report included in this annual report is prepared by an auditor who is not inspected by th
Page 51 - If additional remedial measures are imposed on the big four PRC-based accounting firms, including ou
Page 52 - Risks Related to our American Depositary Shares
Page 53 - If securities or industry analysts do not publish research or publish inaccurate or unfavorable rese
Page 54 - You, as holders of ADSs, may have fewer rights than holders of our ordinary shares and must act thro
Page 55 - Your right to participate in any future rights offerings may be limited, which may cause dilution to
Page 56 - Certain judgments obtained against us by our shareholders may not be enforceable.
Page 57 - Our memorandum and articles of association contain anti-takeover provisions that could discourage a
Page 58 - As a company incorporated in the Cayman Islands, we are permitted to adopt certain home country prac
Page 59 - We will incur increased costs as a result of being a public company, particularly after we cease to
Page 60 - B. Business Overview
Page 61 - Our Solution
Page 62 - Our Borrowers
Page 63 - N/A
Page 64 - Our Investors
Page 65 - Our Products and Services
Page 66 - Loan Pricing Mechanism
Page 67 - Quality Assurance Program and Guarantee
Page 68 - Our Platform and the Transaction Process
Page 69 - Stage 3: Anti-Fraud, Credit Assessment and Decisioning
Page 70 - Stage 5: Servicing and Collections
Page 71 - N/A
Page 72 - Our Risk Management Committee, Risk Management Division and Credit Assessment Team
Page 73 - N/A
Page 74 - Our Technology
Page 75 - Brand Promotion
Page 76 - Insurance
Page 77 - Regulations Relating to Foreign Investment
Page 78 - Regulations on Loans between Individuals
Page 79 - Regulations on Illegal Fund-Raising
Page 80 - N/A
Page 81 - N/A
Page 82 - Anti-money Laundering Regulations
Page 83 - Regulations on Internet Information Security
Page 84 - Regulations on Privacy Protection
Page 85 - Regulations Relating to Foreign Exchange
Page 86 - Regulations on Foreign Exchange Registration of Overseas Investment by PRC Residents
Page 87 - Regulations on Dividend Distribution
Page 88 - N/A
Page 89 - Contractual Arrangements with Heng Cheng and Yi Ren Wealth Management
Page 90 - Agreements that Provide Us with the Option to Purchase the Equity Interest in Heng Cheng
Page 91 - Powers of Attorney. Pursuant to the powers of attorney, each shareholder of Yi Ren Wealth Management
Page 92 - Loan Agreements. Pursuant to the loan agreements between Heng Yu Da and the shareholders of Yi Ren W
Page 93 - D. Property, Plant and Equipment
Page 94 - Major Factors Affecting Our Results of Operations
Page 95 - Product Mix and Pricing
Page 96 - Ability to Innovate
Page 97 - M3+ Net Charge-off Rates
Page 98 - N/A
Page 99 - N/A
Page 100 - Selected Statements of Operations Items
Page 101 - Transaction fees
Page 102 - N/A
Page 103 - Service fees
Page 104 - Sales and marketing expenses
Page 105 - Taxation
Page 106 - Hong Kong
Page 107 - Year Ended December 31, 2017 Compared to Year Ended December 31, 2016
Page 108 - Interest income.
Page 109 - Interest income.
Page 110 - Prepaid Expenses and Other Assets
Page 111 - Deferred Tax Assets
Page 112 - Basis of Presentation, Combination and Consolidation
Page 113 - N/A
Page 114 - Revenue Recognition
Page 115 - Collectability of fees
Page 116 - Customer incentives
Page 117 - Fair Value of Quality Assurance Program
Page 118 - Fair Value of Loans and Payable to Investors at Fair Value
Page 119 - Income Taxes
Page 120 - Cash Flows and Working Capital
Page 121 - N/A
Page 122 - Operating Activities
Page 123 - Investing Activities
Page 124 - C. Research and Development
Page 125 - F. Contractual Obligations
Page 126 - Mr. Ning Tang
Page 127 - Mr. Qing Li
Page 128 - Mr. Yu Cong
Page 129 - Share Incentive Plan
Page 130 - Plan Administration
Page 131 - Committees of the Board of Directors
Page 132 - Nominating and Corporate Governance Committee
Page 133 - D. Employees
Page 134 - N/A
Page 135 - Item 7. Major Shareholders and Related Party Transactions
Page 136 - Transitional Services Agreement
Page 137 - Non-competition Agreement
Page 138 - Transactions with CreditEase Affiliated Entities
Page 139 - Business Relationships in relation to Trusts
Page 140 - Item 8. Financial Information
Page 141 - B. Significant Changes
Page 142 - D. Selling Shareholders
Page 143 - Transfer of Ordinary Shares
Page 144 - Variations of Rights of Shares
Page 145 - Election and Removal of Directors
Page 146 - Exempted Company
Page 147 - C. Material Contracts
Page 148 - N/A
Page 149 - United States Federal Income Tax Considerations
Page 150 - Dividends
Page 151 - Sale or Other Disposition of ADSs or Ordinary Shares
Page 152 - N/A
Page 153 - Information Reporting
Page 154 - Interest Rate Risk
Page 155 - D. American Depositary Shares
Page 156 - Fees and Other Payments Made by the Depositary to Us
Page 157 - Item 15. Controls and Procedures
Page 158 - Item 16D. Exemptions from the Listing Standards for Audit Committees
Page 159 - Item 18. Financial Statements
Page 160 - N/A
Page 161 - N/A
Page 162 - SIGNATURES
Page 163 - YIRENDAI LTD.
Page 164 - YIRENDAI LTD.
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Subdocument 2 - EX-4.18 - EX-4.18
Page 1 - Exhibit 4.18
Page 2 - 1. Definitions
Page 3 - 2. Pledge
Page 4 - 4. Custody of Records for Equity Interest subject to Pledge
Page 5 - 6. Covenants of Pledgor and Party C
Page 6 - 7. Event of Breach
Page 7 - 9. Breach of Agreement
Page 8 - 11. Termination
Page 9 - 14. Governing Law and Resolution of Disputes
Page 10 - 16. Severability
Page 11 - Language and Counterparts
Page 12 - N/A
Page 13 - Attachments:
Page 14 - Amended and Restated Equity Interest Pledge Agreement
Page 15 - 1. Definitions
Page 16 - 2. Pledge
Page 17 - 4. Custody of Records for Equity Interest subject to Pledge
Page 18 - 6. Covenants of Pledgor and Party C
Page 19 - 7. Event of Breach
Page 20 - 9. Breach of Agreement
Page 21 - 11. Termination
Page 22 - 14. Governing Law and Resolution of Disputes
Page 23 - 16. Severability
Page 24 - Language and Counterparts
Page 25 - N/A
Page 26 - Attachments:
Page 27 - Amended and Restated Equity Interest Pledge Agreement
Page 28 - 1. Definitions
Page 29 - 2. Pledge
Page 30 - 4. Custody of Records for Equity Interest subject to Pledge
Page 31 - 6. Covenants of Pledgor and Party C
Page 32 - 7. Event of Breach
Page 33 - 9. Breach of Agreement
Page 34 - 11. Termination
Page 35 - 14. Governing Law and Resolution of Disputes
Page 36 - 16. Severability
Page 37 - Language and Counterparts
Page 38 - N/A
Page 39 - Attachments:
Subdocument 3 - EX-4.21 - EX-4.21
Page 1 - Exhibit 4.21
Page 2 - N/A
Page 3 - N/A
Page 4 - 2. Covenants
Page 5 - N/A
Page 6 - N/A
Page 7 - 3. Representations and Warranties
Page 8 - 4. Effective Date and Term
Page 9 - 8. Confidentiality
Page 10 - 9. Further Warranties
Page 11 - N/A
Page 12 - N/A
Page 13 - Amended and Restated Exclusive Option Agreement
Page 14 - N/A
Page 15 - N/A
Page 16 - 2. Covenants
Page 17 - N/A
Page 18 - N/A
Page 19 - 3. Representations and Warranties
Page 20 - 4. Effective Date and Term
Page 21 - 8. Confidentiality
Page 22 - 9. Further Warranties
Page 23 - N/A
Page 24 - N/A
Page 25 - Amended and Restated Exclusive Option Agreement
Page 26 - N/A
Page 27 - N/A
Page 28 - 2. Covenants
Page 29 - N/A
Page 30 - N/A
Page 31 - 3. Representations and Warranties
Page 32 - 4. Effective Date and Term
Page 33 - 8. Confidentiality
Page 34 - 9. Further Warranties
Page 35 - N/A
Page 36 - N/A
Subdocument 4 - EX-8.1 - EX-8.1
Page 1 - N/A
Subdocument 5 - EX-12.1 - EX-12.1
Page 1 - N/A
Subdocument 6 - EX-12.2 - EX-12.2
Page 1 - N/A
Subdocument 7 - EX-13.1 - EX-13.1
Page 1 - N/A
Subdocument 8 - EX-13.2 - EX-13.2
Page 1 - N/A
Subdocument 9 - EX-15.1 - EX-15.1
Page 1 - N/A
Subdocument 10 - EX-15.2 - EX-15.2
Page 1 - N/A
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