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Hywin Holdings Ltd. has appointed Mr. Wai Lok as the new Chief Financial Officer, effective August 12, 2021. This decision is part of the company's strategy to enhance corporate governance and shareholder value following its successful IPO on NASDAQ in March 2021. Mr. Lok brings over 15 years of investment banking experience, previously working at Citigroup. He will focus on strengthening shareholder value and engaging with international investors. Former CFO, Mr. Zhou Huichuan, will transition to Vice President of Strategic Projects.
Hywin Holdings Ltd. (NASDAQ: HYW) reported strong unaudited financial results for Q3 FY2021, ended March 31, 2021. Client numbers rose 13.5% to 124,043, while active clients surged 24.7% to 29,064. Wealth management product transaction value increased by 22.5% to RMB21.66 billion, with net revenues climbing 46.5% to RMB462.80 million (US$71.41 million) and net income soaring 97.6% to RMB61.87 million (US$9.55 million). Basic earnings per share reached RMB2.46 (US$0.38). The company anticipates Q4 FY2021 net revenues between RMB480 million and RMB510 million.
Hywin Holdings Ltd. (NASDAQ: HYW) announced it will release its unaudited financial results for the third quarter of fiscal 2021, ending March 31, 2021, before the U.S. markets open on June 7, 2021. The management will host a conference call on the same day at 8:00 A.M. ET to discuss the results. Hywin is the third largest independent wealth management service provider in China, holding a 7.5% market share based on 2019 transaction values. For further details, visit their investor relations website.
Hywin Holdings Ltd. (NASDAQ: HYW) reported strong financial results for the six months ending December 31, 2020. Net revenues surged by 40.7% to RMB869.31 million (US$128.40 million), and net income reached RMB83.69 million (US$12.36 million), an 84.3% increase year-over-year. The client base expanded significantly, with a 12.8% increase in total clients and a 19.0% rise in active clients. Notably, net revenues from wealth management services rose by 43.3%, while insurance brokerage revenues fell by 35.1%.
Hywin Holdings Ltd. (NASDAQ: HYW), a top wealth management provider in China, announced CEO Ms. Wang Dian will present at the dbVIC - Deutsche Bank ADR Virtual Investor Conference on May 11, 2021, at 9 AM ET. This event allows global companies with ADR programs to connect with investors. Key highlights include Hywin Wealth's recent IPO of 3 million ADSs raising $30 million, a strategic partnership with VP Bank, and recognition as 'Best Wealth Manager of Greater China 2021.' Participation is free, and an archived webcast will be available post-event.
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Hywin Holdings Ltd. (NASDAQ: HYW) has completed its initial public offering, successfully raising US$30 million by selling 3,000,000 American Depositary Shares at US$10.00 per ADS. Each ADS represents two Class A ordinary shares. The offering was managed by Network 1 Financial Securities Inc., Alexander Capital L.P., and Valuable Capital Limited. This IPO positions Hywin as a key player in the Chinese wealth management sector, where it holds a 7.5% market share as of 2019. The company primarily focuses on wealth management, insurance brokerage, and asset management.
Hywin Holdings Ltd. (NASDAQ: HYW) has priced its initial public offering (IPO) at $10.00 per American Depositary Share (ADS), totaling 3,000,000 ADSs. The expected gross proceeds of approximately $30 million are set to enable growth in its wealth management and asset management services, where it holds a 7.5% market share in China. Trading on NASDAQ is anticipated to commence on March 26, 2021, with the offering closing on March 30, 2021. An option to underwriters for an additional 450,000 ADSs is also available.