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Hywin | 6-K: Report of foreign private issuer (related to financial reporting)

Hywin | 6-K: Report of foreign private issuer (related to financial reporting)

海銀控股 | 6-K:外國發行人報告(業績相關)
美股SEC公告 ·  2024/06/28 20:41

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Hywin Holdings announced unaudited financial results for H1 FY2024, reporting a significant loss amid major business restructuring. Total revenues decreased 23.6% YoY to RMB791.2 million, while net loss reached RMB1,068.8 million compared to a net income of RMB70.6 million in H1 FY2023. The company recognized substantial credit losses and impairments related to its discontinued asset-backed products business.Hywin has exited its wealth management and asset management businesses in China, terminating contractual arrangements with Hywin Wealth. The company is pivoting to focus on new technology-driven business models in areas like new retail, social e-commerce, and metaverse industries. It plans to change its name to Santech Holdings Limited, subject to shareholder approval.The company faces near-term challenges, including reduced operational scale, ongoing redemption issues from its former asset-backed products business, and a securities class action lawsuit. However, management believes the business transformation will create new opportunities long-term, despite inherent uncertainties in the transition process.
Hywin Holdings announced unaudited financial results for H1 FY2024, reporting a significant loss amid major business restructuring. Total revenues decreased 23.6% YoY to RMB791.2 million, while net loss reached RMB1,068.8 million compared to a net income of RMB70.6 million in H1 FY2023. The company recognized substantial credit losses and impairments related to its discontinued asset-backed products business.Hywin has exited its wealth management and asset management businesses in China, terminating contractual arrangements with Hywin Wealth. The company is pivoting to focus on new technology-driven business models in areas like new retail, social e-commerce, and metaverse industries. It plans to change its name to Santech Holdings Limited, subject to shareholder approval.The company faces near-term challenges, including reduced operational scale, ongoing redemption issues from its former asset-backed products business, and a securities class action lawsuit. However, management believes the business transformation will create new opportunities long-term, despite inherent uncertainties in the transition process.
海維控股公司公佈了2024財年上半年的未經審計財務業績,報告顯示在重大業務重組中出現了顯著虧損。總收入同比下降23.6%,降至79120萬人民幣,而淨虧損達到106880萬人民幣,相較於2023財年上半年7060萬人民幣的凈利潤。公司確認由於停止的資產支持產品業務而產生了重大信用損失和減值。海維已退出其在中國的财富管理和資產管理業務,終止了與海維財富的合同安排。公司正在轉向專注於技術驅動的新業務模型,涉足新零售、社交電子商務和元宇宙概念等領域。計劃在獲得股東批准後更名爲Santech Holdings Limited。公司面臨短期挑戰,包括運營規模減少、前資產支持產品業務的持續贖回問題,以及證券集體訴訟。然而,管理層相信業務轉型將爲長期創造新的機會,儘管過渡過程中固有的不確定性。
海維控股公司公佈了2024財年上半年的未經審計財務業績,報告顯示在重大業務重組中出現了顯著虧損。總收入同比下降23.6%,降至79120萬人民幣,而淨虧損達到106880萬人民幣,相較於2023財年上半年7060萬人民幣的凈利潤。公司確認由於停止的資產支持產品業務而產生了重大信用損失和減值。海維已退出其在中國的财富管理和資產管理業務,終止了與海維財富的合同安排。公司正在轉向專注於技術驅動的新業務模型,涉足新零售、社交電子商務和元宇宙概念等領域。計劃在獲得股東批准後更名爲Santech Holdings Limited。公司面臨短期挑戰,包括運營規模減少、前資產支持產品業務的持續贖回問題,以及證券集體訴訟。然而,管理層相信業務轉型將爲長期創造新的機會,儘管過渡過程中固有的不確定性。
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