Shares of Shanghai Guijiu, connected to wealth manager Hywin, extend slide
18/12/2023 02:10
SHANGHAI, Dec 18 (Reuters) - Shares of Shanghai Guijiu
Co 600696.SS , a spirit maker that is connected to struggling
wealth manager Hywin, extended their losses on Monday to touch
the lowest level since April, 2021.
Guijiu shares slumped as much as 7.1% in early morning
trade, after tumbling 17% last week.
Han Hongwei, a connected party with Guijiu, controls the
wealth management unit of Hywin Holdings Ltd HYW.O , according
to the company's annual report. Hywin said last week it had been
unable to promptly fulfill client redemption requests.
(Reporting by Shanghai newsroom; Editing by Muralikumar
Anantharaman)
((samuel.shen@thomsonreuters.com; +86 21 20830018; Reuters
Messaging: samuel.shen.thomsonreuters.com@reuters.net))