Santech Holdings Ltd
NASDAQ:STEC

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Santech Holdings Ltd
NASDAQ:STEC
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Price: 279.4 USD
Market Cap: $23.3B

Santech Holdings Ltd
Investor Relations

Hywin Holdings Ltd. engages in the provision of financial services. The company is headquartered in Shanghai, Shanghai and currently employs 2,905 full-time employees. The company went IPO on 2021-03-26. The firm primarily provide wealth management services, insurance brokerage services, asset management services and other services. Its wealth management solution platform serves its clients across lifecycles and both onshore and offshore. Its privately raised products consist of real estate products, and private equity and venture capital funds products.

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Last Earnings Call
Fiscal Period
Q4 2023
Call Date
Sep 15, 2023
AI Summary
Q4 2023

Revenue Growth: Hywin achieved full year net revenues of RMB2.09 billion, up 7.7% year-on-year, despite a difficult market environment in China.

Health Management Expansion: Health management segment revenues reached RMB87.8 million in its inaugural year, growing more than 20 times year-on-year, and is now a second growth driver.

Asset Management Surge: Total assets under management increased by 90.8% to RMB8.5 billion, with the EAM business in Hong Kong reaching $1 billion AUM, up 72.6%.

Profit Decline: Net income for the year was RMB100.3 million, down 49%, and operating income was RMB197.4 million, down 39%, due to rising costs and investments in new segments.

Product Mix Shift: Wealth management sales declined 9% to RMB72.6 billion, with a focus on more resilient, asset-backed and insurance products amid weak market sentiment.

Client Base Growth: Total client base grew 8.2% to 153,000, with a repeat investment rate of 82%, showing strong client loyalty.

Cost Pressures: Operating costs rose 17% to RMB1.9 billion, driven by compensation, technology, and health business investments.

Key Financials
Net Revenue
RMB2.09 billion
Net Revenue (Second Half)
RMB1.1 billion
Wealth Management Revenue
RMB1.9 billion
Other Financial Product Revenue
RMB302.1 million
Private Market Investment Product Revenue
RMB1.6 billion
Public Market Investment Product Revenue
RMB20.5 million
Asset Management Revenue
RMB32.6 million
Hywin Health Revenue
RMB87.8 million
Hywin Health Net Loss
RMB112.8 million
Operating Costs and Expenses
RMB1.9 billion
Compensation and Benefits
RMB1.2 billion
Health Related Costs
RMB74.5 million
Sales and Marketing Expenses
RMB318 million
General and Administrative Expenses
RMB302.2 million
Income from Operations
RMB197.4 million
Net Income
RMB100.3 million
Earnings Per ADS (Basic)
RMB4.64
Earnings Per ADS (Diluted)
RMB4.48
Cash and Cash Equivalents
RMB945.9 million
Wealth Management Transaction Value
RMB72.6 billion
Asset-backed Product Transaction Value
RMB66.6 billion
International Insurance Product Transaction Value
RMB460 million
Assets Under Management (AUM)
RMB8.5 billion
AUM from Clients Outside Mainland China
82% of AUM
EAM (Hong Kong) AUM
$1 billion
Total Clients
153,000
Active Clients
47,000
Repeat Investment Rate
82%
Ultra-high Net Worth Clients Outside Mainland China
36%
Relationship Managers
1,749
Cities Covered
91
Service Centers
185
Health Screening Revenue
RMB23.4 million
Average Health Screening Revenue Per Visit
RMB2,904
Health Management Revenue
RMB64.4 million
Average Health Management Revenue Per Client
RMB22,613
Health Data Assets
110,000
Earnings Call Recording
Other Earnings Calls
2022

Management

Mr. Wai Lok
Acting CEO, CFO & Director
No Bio Available
Mr. Hua Zhu
Chief Technology Officer
No Bio Available
Mr. Zheng Liu
Chief Marketing Officer
No Bio Available

Contacts

Address
SHANGHAI
Shanghai
F3, Hywin Financial Centre, 8 Yincheng Mid. Road, Pudong New Dist.
Contacts
+862180133888
ir.hywinwealth.com
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