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Hywin Holdings Ltd. (HYW)
- GlobeNewswire
Hywin Holdings Announces Strategic Business Transformation Plan
SHANGHAI, China, March 27, 2024 (GLOBE NEWSWIRE) -- Hywin Holdings Ltd. (“Hywin”, or the “Company”) (NASDAQ: HYW) today announced its plan for strategic business transformation in light of recent regulatory policies and market developments. Under this new strategy, the Company will (i) shift its financial services and product distribution businesses towards public market funds and NAV-based products, (ii) strategically promote growth of its insurance brokerage services business, (iii) continue t
- South China Morning Post
Hywin's debacle underscores close links between China's property and wealth management sectors
Hywin Wealth, a Shanghai-based wealth management company with ties to embattled property developer China Evergrande Group, said it would look into missed payments on its investment products, after talk of repayment difficulties sent shares of its Nasdaq-listed parent plunging to a third of its value over the past week. Hywin Wealth, controlled by Nasdaq-listed Hywin Holdings, said in a statement on Sunday that its "projects were delayed due to a declining economy", and that it had established a
- Reuters
Chinese wealth manager Hywin to offer resolution plans after missed payments
China's Hywin Wealth Management said it is reviewing its outstanding business and will provide resolution plans to investors by month-end, following missed payments on some investment products amid Chinese property-sector woe. That shareholder is controlled by Han Xiao, son of Hywin controller Han Hongwei, local media reported.
