Asset Allocation Portfolio of HPH’s Subsidiary Puyi Fund Exceeded RMB24 Billion
June 24 2024 - 8:20AM
Highest Performances Holdings Inc. (NASDAQ: HPH) (“HPH” or the
“Company”), today announced that the portfolio balance of the asset
allocation services of its majority-owned subsidiary Fanhua Puyi
Fund Distribution Co., Ltd., (“Puyi Fund”) has reached RMB24.7
billion as of June 21, 2024, representing a year-over-year growth
of 188% from June in 2023. This achievement stems from its
relentless efforts in product strategy adjustments and digital
transformation.
The Company introduced a comprehensive family
wealth management account system, shifting its focus to
fixed-income fund products and fund portfolio products to offer
clients a more stable and secure wealth-building experience. It
recommends investors allocate 50% to 80% of their funds to “Steady
Growth” accounts, aiming for steady asset appreciation while
minimizing risks. This approach aligns with the current market
trend in China, where investors are more inclined to a lower risk
appetite.
In addition, the Company undertakes digital
transformation to improve customer experience, resulting in
increased retention ratio and enhanced profit probability. By
leveraging big data, algorithm mining, and intelligent systems, it
provides investors with a personalized service experience tailored
to each individual, thereby building a digital competitive edge for
Puyi Fund.
It also provides in-person services to investors
through offline service channels, effectively addressing investors’
concerns and guiding rational investment decisions. At the same
time, the Company also recorded robust performance in its
institutional business, as a result of improved service quality for
institutional clients with its intelligent over-the-counter fund
trading system.
As of June 21, 2024, Puyi Fund has partnered
with 117 public fund managers and 20 private fund managers,
covering a wide range of mainstream market strategies to meet
diverse investor allocation needs. As an independent fund sales
agency under the HPH, Puyi Fund is dedicated to providing
comprehensive family financial asset allocation services and
diversified financial solutions, helping investors achieve
long-term sustainable returns.
About Highest Performances Holdings
Inc. (NASDAQ: HPH)
HPH was founded in 2010 with the aim of becoming
a top provider of smart home and enterprise services. Its mission
is to improve the quality of life for families worldwide, focusing
on two main driving forces: “technological intelligence” and
“capital investments.” HPH has a global strategic perspective and
identifies high-quality enterprises with global potential for
investment and operations. Its areas of focus include asset
allocation, education and study tours, cultural tours, sports
events, healthcare and elderly care and family governance.
HPH currently holds controlling interests in two
leading financial service providers in China,
namely Fanhua Inc., a technology-driven platform,
and Fanhua Puyi Fund Distribution Co., Ltd., an independent
wealth management service provider.
Highest Performances Holdings Inc., formerly
known as Puyi Inc., was renamed on March 13, 2024 to
reflect its strategic transformation.
Forward-looking StatementsThis
press release contains forward-looking statements as defined by the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements include statements concerning plans, objectives, goals,
strategies, future events or performance, and underlying
assumptions and other statements that are other than statements of
historical facts. When HPH uses words such as “may”, “will”,
“intend”, “should”, “believe”, “expect”, “anticipate”, “project”,
“estimate” or similar expressions that do not relate solely to
historical matters, it is making forward-looking statements.
Forward-looking statements are not guarantees of future performance
and involve risks and uncertainties that may cause the actual
results to differ materially from HPH’s expectations discussed in
the forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the
following: HPH’s ability to obtain proceeds from the Agreement;
HPH’s goals and strategies; HPH’s future business development;
product and service demand and acceptance; changes in technology;
economic conditions; the growth of the third-party wealth
management industry in China; reputation and brand; the impact
of competition and pricing; government regulations; fluctuations in
general economic and business conditions in China and the
international markets HPH serves and assumptions underlying or
related to any of the foregoing and other risks contained in
reports filed by HPH with the Securities and Exchange
Commission. For these reasons, among others, investors are
cautioned not to place undue reliance upon any forward-looking
statements in this press release. Additional factors are discussed
in HPH’s filings with the U.S. Securities and Exchange
Commission, which are available for review at www.sec.gov. HPH
undertakes no obligation to publicly revise these forward-looking
statements to reflect events or circumstances that arise after the
date hereof.
For more information, please
contact:
Highest Performances Holdings Inc.Tel:
+86-20-28866499Email: ir@puyiwm.comHighest Performances Holdings
Inc.
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