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Following ZZ, Haiyin is also about to explode!

Following ZZ, Haiyin is also about to explode!

Following ZZ, Haiyin is also about to explode!

Reading guide: Haiyin Holdings' stock exploded, a big dive!

On December 13, 2023, Hywin Holdings (HYW) fell as low as 51.30% intraday, once touching $2.8, and its stock price hit a record low.

As of the close of the day, the stock price of Hywin Holdings fell 42.61% to $3.3, and the stock has fallen -50.15% in the last five trading sessions, -52.45% month-to-date, -41.90% year-to-date, and -45.72% in the last 52 weeks. Hywin Holdings' stock has exploded!

Following ZZ, Haiyin is also about to explode!

Hywin Holdings released its 2023 fiscal year annual report on October 18, 2023, with revenue of RMB 2.092 billion for the period from July 1, 2022 to June 30, 2023, a year-on-year increase of 7.71%, and a net profit of RMB 120 million, a year-on-year decrease of 49.01%.

The reason for the collapse of Hywin Holdings may be related to the postponement of the redemption of Hywin Wealth, and a screenshot of a chat record circulated on the Internet shows that due to banking reasons and the company's December belongs to the peak interest payment period of fixed income products, the time for product liquidation to arrive is extended.

Some investors told trust insiders that the Haiyin wealth products they subscribed for were originally scheduled to expire in early December, but they had already reached T+8 and had not yet been paid. Previously, the payment was received the next day after maturity.

If Haiyin Wealth also stops paying and fundraising, it will be another well-known wealth company defaulting after the ZZ wealth company in June this year, involving tens of thousands of families.

Launched on the NASDAQ in March 2021, Hywin Wealth disclosed in its prospectus that it is "the largest provider of real estate fixed income products in China", and that "the products provided invest in real estate projects of well-known large-scale developers such as Evergrande and Sunac with good credit ratings, with a term of 6-36 months." ”

According to the prospectus, Hywin Wealth is the third largest third-party wealth management institution in China and the largest growth rate among the top five third-party wealth management institutions.

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