Regulatory Environment - The PRC government has increased oversight over foreign investments and may impose restrictions that could hinder Hywin's ability to operate and offer securities [24]. - Recent regulatory actions in China have created uncertainty regarding the future of VIE structures, which could impact Hywin's business operations [25]. - Hywin Holdings Ltd. operates primarily in China through its WFOE and VIEs, with control established via contractual arrangements rather than equity ownership [19]. - The company relies on contractual arrangements with Variable Interest Entities (VIEs) for part of its operations in China, which may not provide the same level of control as direct ownership [47]. - Changes in PRC regulations regarding financial services could adversely affect the company's operations and the value of its American Depositary Shares (ADSs) [49]. - The company is subject to various PRC regulations that may restrict its ability to operate and expand its business effectively [50]. - The evolving regulatory landscape in China's financial services industry creates uncertainties that may impact the company's ability to maintain or grow its client base [84]. - The Foreign Investment Law, effective January 1, 2020, introduces uncertainties regarding the classification of VIEs and their compliance with foreign investment regulations [179]. - The PRC government extensively regulates the financial services industry, creating significant uncertainties regarding compliance and operational permits [195]. - Recent regulatory changes may require additional licenses for operations, potentially leading to penalties if compliance is not achieved [196]. Financial Performance - Total assets as of June 30, 2023, amounted to RMB 2,373,492 thousand, an increase from RMB 1,783,412 thousand in the previous year [29]. - Cash and cash equivalents reached RMB 868,908 thousand, up from RMB 525,136 thousand year-over-year, indicating a growth of approximately 65.3% [29]. - Accounts receivable, net, stood at RMB 415,134 thousand, a decrease from RMB 564,374 thousand, reflecting a decline of about 26.4% [29]. - Total liabilities were reported at RMB 1,130,270 thousand, compared to RMB 784,499 thousand in the previous year, representing an increase of approximately 44.1% [29]. - Total shareholders' equity as of June 30, 2023, was RMB 1,111,691 thousand, up from RMB 968,313 thousand, indicating a growth of around 14.8% [29]. - Net revenues for the year ended June 30, 2023, were RMB 2,091,757 thousand, an increase from RMB 1,942,113 thousand in the previous year [33]. - Operating costs and expenses for the year ended June 30, 2023, totaled RMB 1,894,372 thousand, compared to RMB 1,615,423 thousand in the prior year, reflecting an increase of approximately 17.2% [33]. - Net income for the year ended June 30, 2023, was RMB 120,270 thousand, a decrease from RMB 207,657 thousand in the previous year, indicating a decline of about 42.1% [33]. - The company reported a net cash used in investing activities of RMB (248,665) thousand for the year ended June 30, 2023, compared to RMB (286,497) thousand in the previous year, showing an improvement [36]. - The company experienced a net loss from operations of RMB (5,207) thousand for the year ended June 30, 2023, compared to a net loss of RMB (7,339) thousand in the previous year, indicating a reduction in losses [33]. Operational Risks - The company faces risks related to potential changes in PRC regulations that could affect the enforceability of its contractual arrangements with the VIEs [20]. - The cash flow structure involves multiple transfers between Hywin Holdings Ltd., its subsidiaries, and the VIEs, with limitations on cash transfers imposed by the PRC government [26]. - The company may face significant penalties if it fails to comply with PRC regulations regarding wealth and asset management, which could impact its operations [47]. - The company may face challenges in integrating newly acquired health management service providers into its existing business [60]. - The company is exposed to legal liabilities if it breaches fiduciary duties under asset management agreements, which could adversely affect its financial condition [118]. - The company faces risks related to the complexity of the wealth management products distributed, including default, liquidity, and market risks [53]. - The company may face uncertainties regarding oversight from the CAC, which could disrupt operations and affect investment value [149]. Market and Competitive Landscape - The company operates in a competitive environment, facing significant competition from commercial banks and other financial institutions [96]. - The company targets high-net-worth individuals (HNWIs) in China, but competition and regulatory changes may hinder its ability to retain and expand its client base [84]. - A significant portion of the wealth management products distributed by the company are tied to real estate or real estate-related financial products, making it vulnerable to fluctuations in China's real estate industry [44]. - The company generates a large proportion of its net revenues from a limited number of financial product providers and customers, indicating potential revenue volatility due to changes in these relationships [44]. Strategic Initiatives - The company is focusing on expanding its health management business and acquiring health management centers, which may impact future operating results [43]. - The company plans to establish and operate an internet hospital, which may involve significant risks [45]. - The company plans to strengthen its market position in the wealth management industry by expanding its product offerings and investing in technology to improve operational efficiency [113]. - The company has expanded into high-end health management services through acquisitions, including Grand Doctor Medical Co., Ltd., which may incur significant costs before generating profit [58]. Currency and Economic Factors - The value of the Renminbi has depreciated sharply against the U.S. dollar, affecting the company's financial position when translated into U.S. dollars [213]. - The PRC government imposes controls on the convertibility of the Renminbi, which may limit the company's ability to utilize revenues effectively [216]. - The Chinese economy's growth has been uneven, and adverse changes in economic conditions could materially affect the company's business and operating results [199]. Internal Controls and Compliance - The company has identified material weaknesses in its internal control over financial reporting, which could result in inaccuracies in financial statements [169]. - The company is implementing measures to address identified weaknesses in internal controls, including hiring experienced personnel and establishing an internal audit department [170]. - Compliance with data protection regulations in China, such as the Cyber Security Law and the PRC Data Security Law, may increase operational costs and affect data handling capabilities [142][143]. - The company has limited insurance coverage, which may expose it to substantial costs in the event of litigation or business disruption [166].

Good morning and good evening, ladies and gentlemen. Thank you for standing by and welcome to Highwind Holdings' second half and fiscal year 2023 earnings conference call. At this time, all participants are in a listen-only mode. Before we start, I refer you to the Safe Harbor Statement in the company's earnings release, which also applies to the conference call today, as our management will make forward-looking statements. On the call today are the company's director and CEO, Madame Wang Bian, and CFO, Mr. ...

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Exhibit 99.1 AUM increased by 114.3% as Hywin's EAM business demonstrated its attractiveness to ultra-HNW clients SHANGHAI, China, March 23, 2023 (GLOBE NEWSWIRE) -- Hywin Holdings Ltd. ("Hywin" or the "Company") (NASDAQ: HYW), a leading independent wealth management service provider in China, today announced its unaudited financial results for the first half of fiscal year 2023 ended December 31, 2022. First Half of Fiscal Year 2023 Highlights Clients are those who had conducted at least one transaction wi ...

Hywin Holdings Ltd. (NASDAQ:HYW) Q4 2022 Earnings Conference Call August 31, 2022 8:00 AM ET Company Participants Wang Dian - Chief Executive Officer Lawrence Lok - Chief Financial Officer Conference Call Participants Sandy Mehta - Evaluate Research Edward Lee - UBS Operator Good morning and good evening, ladies and gentlemen. Thank you for standing by, and welcome to Hywin Holdings Ltd. Second Half and Full-Year of Fiscal 2022 Earnings Conference Call. At this time, all participants are in a listen only mo ...