Core Viewpoint - The company, Hywin Holdings Ltd., is undergoing a strategic business transformation, exiting its wealth and asset management businesses, shifting focus to the technology sector, and changing its name to Santech Holdings Limited [1][4]. Exit from Wealth Management and Asset Management Businesses - The company will terminate its contractual arrangements with Hywin Wealth Management, leading to the cessation of its wealth and asset management businesses. Following this termination, Hywin Wealth Management will no longer be a consolidated entity and will be controlled by Mr. Han Hongwei, who will address ongoing redemption issues for affected clients [2]. New Business Focus in Technology - The company plans to transition into a technology-focused entity, exploring innovative opportunities in sectors such as new retail, social e-commerce, and the metaverse. It may pursue growth through organic development or strategic partnerships [3]. Change of the Company's Name - To reflect its new business direction, the company intends to change its name from Hywin Holdings Ltd. to Santech Holdings Limited, with a corresponding Chinese name. An extraordinary general meeting will be held to approve this name change [4]. Company Background - Historically, the company served high net-worth clients in financial services and health management, but it is now actively seeking new opportunities in technology, having exited its previous financial services businesses [6].
Hywin Holdings Announces Updates on Strategic Business Transformation Plan