Brief: Hywin Holdings Announces Strategic Business Transformation Plan

BitVentures

27/03/2024 10:04

March 27 (Reuters) - Hywin Holdings Ltd  HYW.O :
    * HYWIN HOLDINGS ANNOUNCES STRATEGIC BUSINESS TRANSFORMATION
PLAN
    * HYWIN HOLDINGS LTD: EXIT FROM DISTRIBUTION OF ASSET-BACKED
PRODUCTS
    * HYWIN HOLDINGS LTD: REDUNDANCY OF APPROXIMATELY 300
MIDDLE- AND
BACK-OFFICE EMPLOYEES
    * HYWIN HOLDINGS LTD - CO TO SHIFT ITS FINANCIAL SERVICES
AND
PRODUCT DISTRIBUTION BUSINESSES TOWARDS PUBLIC MARKET FUNDS AND
NAV-BASED PRODUCTS
    * HYWIN HOLDINGS LTD: ANTICIPATES THAT IT WILL EXPERIENCE A
SIGNIFICANT REDUCTION IN OPERATIONAL SCALE AND REVENUE SCALE IN
SHORT TERM
    * HYWIN HOLDINGS LTD - THERE ARE UNCERTAINTIES REGARDING
ONGOING
DISPUTES WITH CLIENTS OVER PREVIOUSLY DISTRIBUTED ASSET-BACKED
PRODUCTS
    * HYWIN HOLDINGS - AS A RESULT OF UNCERTAINTIES CO'S
BUSINESS,
FINANCIAL CONDITION AND RESULTS OF OPERATIONS COULD BE
MATERIALLY AND ADVERSELY AFFECTED

Source text for Eikon:  ID:nGNX4wQW9D 
Further company coverage:  HYW.O 

 ((Reuters.Briefs@thomsonreuters.com;))