Chinese wealth management services provider Hywin Holdings debuts on Nasdaq

2021-08-21 00:00 383 View
Hywin Holdings, which provides wealth management services in China, on Friday started trading on the Nasdaq.
 
The company, trading under the ticker symbol of "HYW," priced its initial public offering of 3,000,000 American depositary shares (ADSs) at 10 U.S. dollars per ADS.
 
Each ADS represents two Class A ordinary shares of the company.
 
Founded in 2006, the Shanghai-based company provides wealth management services, insurance brokerage services, and asset management services to its clients, and its largest business to date has been in wealth management.
 
It is the third largest third-party wealth management service provider in China, with a 7.5 percent market share in terms of 2019 transaction value, according to its prospectus, citing a report by China Insights Consultancy, an independent industry consulting platform.
 
Wang Dian, Hywin"s chief executive officer, told Xinhua that the move was a milestone and new start for the company.
 
"The listing could help attract more talents and drive us to further improve our management as well as the transparency of our business operation," she said.
 
Wang also said that the third-party wealth management services market in China is currently at an early stage of development and has great potential, boosting her confidence about the company"s future growth.
 
Driven by private wealth accumulation and evolving risk appetite, the investment preference of investors in China has shifted toward a more diversified and professional asset allocation, which in turn has fostered the development of third-party wealth management service in China, she noted.
 
Hywin started trading at 11.25 dollars per share on Friday and closed at 9.9 dollars apiece.
 
As of Thursday, the S&P U.S. Listed China 50 index, which is designed to track the performance of the 50 largest Chinese companies listed on U.S. exchanges by total market cap, stood at 4,887.13, marking a 14.95-percent loss for the month-to-date returns and a 6.46-percent slide for the year-to-date returns. 
 
Related content
  • The Chinese mainland stock market remains "very attractive" for global investors over the long term, although a stretched valuation has magnified the volatility of A shares, a leading investment company said.Wang Qian, Asia-Pacific chief economist with the US-based Vanguard Investment Strategy Group and global head of Vanguard Capital Markets Model, said the forecast is based on growth outlook and diversification benefits of the A-share market.Wang"s observations come at a time when the A-share
  • New disclosure norms adopted by the United States" securities regulator may prompt the listed Chinese mainland companies return to Chinese bourses, said experts.The US Securities and Exchange Commission said on Wednesday that it has adopted interim final amendments to implement the disclosure requirements under the Holding Foreign Companies Accountable Act which require firms to establish that they are not owned or controlled by a foreign government entity. These companies are also required to d
  • The country"s long-term goal to achieve carbon neutrality has been mirrored in the A-share market performance, with stock prices of carbon neutrality-related companies rising by an average 4.07 percent on Monday, while the benchmark Shanghai Composite Index gained 1.14 percent to close at 3443.44 points.Prices of carbon neutrality-related Shenzhen Energy Corp, Jilin Electric Power Co Ltd and Beijing Jingyuntong Technology Co Ltd increased by the daily limit of 10 percent. Steelmaker Beijing Shou
  • China"s National Equities Exchange and Quotations (NEEQ), also known as the "new third board," has seen a turnover of about 25.55 billion yuan (about 3.93 billion U.S. dollars) so far this year.From March 8 to March 12, its turnover hit approximately 2.24 billion yuan.Launched in 2013, the NEEQ intends to offer small and medium-sized enterprises a new financing channel with low costs and simple listing procedures.China has outlined a series of reforms to better orient the NEEQ to the needs and f
  • Recent fluctuations in major A-share indexes caused by rising inflation concerns in overseas markets and stock rotations will not impair the upward momentum of the A-share market, experts said.The benchmark Shanghai Composite Index shed 1.82 percent to close at 3359.29 points on Tuesday while the Shenzhen Component Index slid 2.8 percent to close at 13475.72 points. The technology-focused ChiNext in Shenzhen slumped 3.5 percent.Among the 3,700-plus A-share companies, nearly 100 companies saw the
Related recommendations
STOCKS NEWS
Hot Content
  • company_name : Semiconductor Manufacturing International Corporation . Date : 2000-04-03 . listing_date : 2020-07-16 . Stock_code : 688981.SH、0981.HK . stock_market : sh . address : CricketSquare,HutchinsDrive,P.O.Box2681,GrandCaymanKY1-1111,CaymanIslands . zip : 201203 . phone : 86-21-20812800 . fax : 86-21-50802868 . site : www.smics.com .
  • company_name : Zhejiang Supcon Technology Co., Ltd. . Date : 1999-12-07 . listing_date : 2020-11-24 . Stock_code : 688777.SH . stock_market : sh . address : No.309 Liuhe Road, Binjiang District, Hangzhou, Zhejiang Province . zip : 310053 . phone : 86-571-86667525 . fax : 86-571-81118603 . site : www.supcontech.com .
  • company_name : Tianneng Battery Group Co.,Ltd. . Date : 2003-03-13 . listing_date : 2021-01-18 . Stock_code : 688819.SH . stock_market : sh . address : Industrial Park, Kishan Town, Changxing County, Huzhou City, Zhejiang Province . zip : 313100 . phone : 86-572-6029388 . fax : 86-572-6129388 . site : www.cn-tn.com .
  • company_name : Ninebot Limited . Date : 2014-12-10 . listing_date : 2020-10-29 . Stock_code : 689009.SH . stock_market : sh . address : Maples Corporate Services Limited at PO Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands . zip : 100192 . phone : 86-10-84828002*841 . fax : 86-10-84828002 . site : www.segway.com,www.ninebot.com,www.segwayrobotics.com .
  • company_name : Shenzhen Consys Science&Technology Co., Ltd. . Date : 2004-02-27 . listing_date : 2020-10-22 . Stock_code : 688788.SH . stock_market : sh . address : 5/F, Avionics Engineering R&D Building, No. 7, Langshan Road, Gaoxin North District, Xili Street, Nanshan District, Shenzhen, Guangdong Province, China . zip : 518057 . phone : 86-755-86111131*8858 . fax : 86-755-86111130 . site : www.consys.com.cn .
Contact
  • 86-021-88888888
  • 86-021-88888888
  • info@company-cn.com