Independent Wealth

Hywin Holdings Ltd. Announces Unaudited Financial Results for the Second Half of Calendar Year 2020

Excellent results with net revenues up by 40.7% and an increase in net income of 84.3%.

Hywin Holdings Ltd. ("Hywin Wealth", “Hywin”, or the "Company", NASDAQ: HYW), a leading wealth management service provider in China, today announced its unaudited financial results for the six months ended December 31, 2020.

Second Half of Calendar Year 2020 Highlights

  • Number of clients increased by 12.8% to 119,687 as of December 31, 2020 from 106,125 as of December 31, 2019.
  • Net revenues increased by 40.7% to RMB869.31 million (US$128.40 million) from RMB617.79 million in the same period of 2019.
  • Net income increased by 84.3% to RMB83.69 million (US$12.36 million) from RMB45.42 million in the same period of 2019.

 

Ms. Wang Dian, Chief Executive Officer and Director of Hywin Holdings Ltd., commented, “In the second half of 2020, we achieved robust growth in client volume and transaction value, leading to a 40.7% increase in net revenues and an 84.3% increase in net income year over year. These achievements were driven by the acceleration of client activities sustained by China’s rapid economic recovery, as well as our own efficiency improvements that led to a 44.6% increase in net revenues per relationship manager.”