Growth-hungry Fanhua finds a potential benefactor in Singaporean investor
The insurance broker has struck a deal to receive up to $1 billion in new investment for itself and recently acquired wealth manager unit Puyi Key Takeaways: Singapore-based White Group…
Shrinking wealth manager Puyi finds big benefactor in insurance broker Fanhua
Separate shareholder groups from the two publicly traded companies will each acquire a majority stake in the other through an equity swap Key Takeaways: An equity swap will give a…
Hywin seeks new wealth outside sagging property market
The asset manager is diversifying beyond its traditional focus on property-linked investments for wealthy investors Key Takeaways: Hywin Holdings is diversifying beyond its real estate-focused wealth management business with moves…
FAST NEWS: Noah’s profit drops on higher selling expenses
The latest: Noah Holdings Private Wealth and Asset Management Ltd. (NOAH.US; 6686.HK) reported Tuesday that its first-quarter revenue increased by 1% to 804 million yuan ($113 million), while its net profit…
Noah Holdings Lowers Profit Forecast Amid Market Turmoil, Pandemic Lockdowns
The wealth management company has cut its profit projection for the whole year by up to 35.5%Key Takeaways:Noah Holdings revised down its non-GAAP annual net profit forecast from a maximum…
FAST NEWS: China Renaissance Swings Into Red Despite Steep Cost Cuts
The latest: Financial services firm China Renaissance Holdings Ltd. (1911.HK) on Tuesday reported its revenue dropped 42.4% to 604 million yuan ($87.5 million) in the first half of the year, as it swung into the red with…
Wealth Manager Noah Banks on Hong Kong to Revive Fortunes
The Chinese financial firm serving high-net-worth investors will soon list on the Hong Kong Stock Exchange to fund its business expansion. (more…)