Hywin Holdings Ltd. (HYW) has released an update.
Hywin Holdings Ltd., a leading wealth and health management service provider, has announced a strategic business transformation focusing on public market funds, NAV-based products, and insurance brokerage services. The company is ceasing the distribution of asset-backed products due to challenging market conditions and is actively addressing associated client redemption issues. Hywin is also undergoing structural reorganization, including layoffs and office consolidations, and warns investors of the inherent risks during this transformation period.
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