Revenue Growth - Total revenues increased by 17.6% to RMB1,036.0 million (US$148.8 million) from RMB881.3 million in the same period of 2021[4] - Total revenue for the six months ended December 31, 2022, was RMB 1,035,984, representing a 17.6% increase compared to RMB 881,256 for the same period in 2021[32] - Wealth management revenue increased by 13.4% to RMB 970,157, while assets management revenue surged by 79.4% to RMB 16,203[32] - Net revenues from asset management business increased by 79.4% to RMB16.2 million (US$2.3 million) from RMB9.0 million in the same period of 2021[4] - Net revenues from health management services were RMB38.3 million (US$5.5 million) in the first half of fiscal year 2023[8] Client Growth - Number of clients increased by 8.7% to 146,418 as of December 31, 2022, from 134,656 as of December 31, 2021[4] - Number of active clients increased by 3.9% to 36,742 in the six months ended December 31, 2022, from 35,366 in the same period of 2021[4] - The company maintained a strong nationwide footprint with 1,738 relationship managers and 177 wealth planning centers across 88 cities in China as of December 31, 2022[4] Financial Performance - Net income increased by 0.3% to RMB70.6 million (US$10.1 million) from RMB70.4 million in the same period of 2021[14] - Net income attributable to shareholders decreased by 2.6% to RMB 68,549, compared to RMB 70,362 in the previous year[32] - Operating margin decreased slightly to 9.9% after factoring in results from Hywin Health, with Hywin Wealth's operating margin at 12.6%[9] - The company reported a comprehensive income of RMB 73,038, reflecting a 4.7% increase from RMB 69,765[32] Costs and Expenses - Total operating costs and expenses rose by 17.8% to RMB 933,925, with compensation and benefits increasing by 16.6% to RMB 576,173[32] Asset and Equity Growth - Assets under management increased by 114.3% to RMB7,013.4 million as of December 31, 2022, from RMB3,272.8 million as of December 31, 2021[4] - Total assets increased to RMB 2,238,672 from RMB 1,783,412, indicating strong growth in the company's asset base[34] - Shareholders' equity increased to RMB 1,154,012, compared to RMB 968,313, demonstrating improved financial health[34] Liabilities - Current liabilities rose to RMB 911,340, up from RMB 779,810, highlighting increased financial obligations[34] Health Segment - Hywin Health's operating loss was RMB23.6 million during the reporting period as the company was in the initial stage of integrating and transforming its health businesses[9] - The company aims to expand its Hywin Health segment, which generated RMB 38,304 in revenue during the reporting period[32] - Cash and cash equivalents as of December 31, 2022, were RMB 535,615, a slight increase from RMB 525,136 as of June 30, 2022[34]
Hywin Holdings(HYW) - 2023 Q3 - Quarterly Report