SHANGHAI, China, Aug. 5, 2022 (GLOBE NEWSWIRE) — Hywin Holdings Ltd. (“Hywin” or the “Company”) (NASDAQ: HYW), a leading independent wealth management service provider in China, today announced that: Entered into a series of definitive share transfer and capital increase agreements with Beijing iLife3 Technology Co. Ltd (“Life Infinity”), one of China’s leading integrated healthcare service providers (“Life Infinity”) and its existing shareholders . Acquisition of a controlling stake in Life Infinity for RMB 140 million to enter the rapidly growing Chinese healthcare market.
The Company expects the transaction to close by the end of August 2022, subject to customary closing conditions. After the transaction is completed, Life Infinity will become a consolidated subsidiary of the Company.
Over the past decade, China’s healthcare sector has grown at a double-digit pace to become a multi-trillion dollar market. With a growing wealthy population and an aging society, health care has become a priority for the families of her Hywin clients in China and a pressing topic for wealth management advisors. As a manager of a leading wealth management firm with a wealthy client base in Greater China, Hywin has been keenly aware of client needs in the healthcare space and the significant value created by fulfilling them. After several years of research activities in the healthcare sector, Hywin has accumulated strong expertise in this field. This is evidenced by the prominence of health topics in our daily conversations with clients and the recent launch of the FactSet Hywin Global Health Care Index. This was inspired by his Hywin insights on the healthcare sector.
Madame Wang Dian, CEO of Hywin, said: “We are excited to take this exciting next step with Life Infinity to bring established healthcare services to our affluent customers in Greater China. It represents a new milestone in the strategic plan to unlock a vast customer franchise.This will enable Hywin to increase wealth and wealth through naturally occurring cross-selling opportunities and cost synergies along the wealth and health continuum. It will also be the first independent wealth manager in China to integrate health into one holistic proposition.”
Lawrence Lok, Chief Financial Officer of Hywin, added: The health care business expands Hywin’s revenue streams and further strengthens customer relationships. The complementarity of wealth and health will enable our shareholders to capture value from his two most important and systemic needs of wealthy people in China. Such evergreen franchises generate evergreen shareholder returns. ”
Life Infinity Founder and Chairman Chen Li commented: Both services are built on long-term trust and are able to deliver lasting value, requiring service providers to maintain fiduciary duty and professional dedication. It is a significant convergence and marks a new era for both companies. We see short- and long-term synergies in terms of branding, client servicing, solution delivery and cost efficiency. services and products to more clients, which is expected to ultimately lead to accelerated growth and more revenue. We look forward to working with you. ”
About Haiwin Holdings
Hywin (NASDAQ: HYW) is a leading independent wealth management services provider in China focused on providing wealth allocation advisory services and comprehensive financial products to high net worth clients. The Company’s main services are wealth management, wealth management and other comprehensive financial services. Wealth management is currently our largest business segment, with our onshore and offshore solutions platforms serving generations of clients. For more information, please visit https://ir.hywinwealth.com.
About Beijing iLife3 Technology Co. Ltd
“Beijing iLife3 Technology Co. Ltd” is a leading provider of integrated medical services and health management solutions for wealthy and high net worth clients in China. The company’s flagship brand, Life Infinity, is one of his market leaders, specializing in health care, anti-aging solutions and aesthetic medicine. Life His Infinity mission is to curate and deliver world-class health technology, expertise and products in China. Life Infinity operates clinics in Beijing, Shanghai, Chongqing, and other major cities in China, as well as a digital medical platform and a “Life Infinity Plus” marketplace for healthcare products. Life Infinity is highly regarded in the industry and serves as Vice Chairman of the China Anti-Aging Promotion Association. Life Infinity is china entrepreneur magazineand was awarded the “Best Anti-Aging Medical Service Institution” by family enterprise magazine again, hulun report.
safe harbor declaration
This press release contains statements that may constitute “forward-looking statements” under the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Estimate, “Forecast”, “Plan”, “Project”, “Possible”, “Continue”, “Ongoing”, “Expect”, “Aim”, “Believe”, “Intend”, “Could” , “should,” “will,” “likely,” “could,” and similar statements. Statements that are not historical facts, including statements about our beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is contained in our filings with the SEC. All information provided in this press release speaks only as of the date of this press release, and we undertake no obligation to update any forward-looking statements, except as required by applicable law. .
Hiwin Investor Contact:
High Win Holdings Co., Ltd.
Email: ir@hywinwealth.com
Hiwin Media Contacts:
ICR, LLC
Email: HywinPR@icrinc.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b2cd6496-a791-4ba2-9a5f-4990f2cf209d.
.
Comments
Post a Comment