On December 14th, we paid attention to the incident of Haiyin Holdings' U.S. stock **, and yesterday, Haiyin Wealth still officially announced a thunderstorm!
At noon on December 17, the official WeChat account of Hywin Wealth issued an announcement, saying that due to the recent economic downturn, the project has been delayed, which has caused inconvenience to investors. At present, Hywin Wealth has set up a special team to actively coordinate with the relevant parties of the project to plan the disposal plan. Currently in accordance with the latest regulatory policies and industry orientation,Hywin Wealth took the initiative to withdraw and sort out the existing business, and the relevant plan will be given to you before the end of the month, I hope you don't believe rumors or spread rumors.
As for what was mentioned in the announcementTake the initiative to exit and sort out the existing businessPeople familiar with the matter said that it refers to the benign withdrawal of non-standard fixed income business, these non-standardized debt products, previously filed on the gold exchange, some of these products are invested in real estate projects, and some are invested in ** chain finance.
On December 15, some investors received a message from the account manager of Hywin, saying that the product would default on the product, but the company's boss Han Hongwei guaranteed the safety of the customer's principal, and the others had to wait for the company's latest notice. At present, the liquidation team of the company is actively taking stock of the project assets, and will issue an announcement on the detailed rules for transfer and payment as soon as possible, which will be reported to the Financial Supervision Bureau for release.
Before the thunderstorm, some investors felt that something was wrong, and when customers paid attention to the payment situation last Wednesday, Haiyin continued to dissolve customer WeChat groups.
Prophetic investors have already begun to flee on the **. On December 13, the share price of Hywin Holdings, which was listed on the U.S. stock market, was **4261%, and the remaining 2 trading days of last week continued to fall sharply. Calculated down, in the last 3 trading days, the share price of Hywin Holdings has increased from 5$75 fell to 2$37, which has fallen by 588%, with a market value of only 66.36 million US dollars, about more than 200 million yuan.
The stock price trend chart of U.S. stock Haiyin Holdings, and the related A-share listed company Rock Shares (600696) have also seen a significant increase in the near future. The chairman of Haiyin Holdings is Han Hongwei, and Han Xiao, the actual controller of Rock Shares, is a father-son relationship.
On the evening of December 14, Hywin Holdings announced that some of the asset-backed products it distributed had redemption problems and failed to reach a postponement redemption agreement with relevant customers. Although Hywin is only a distributor of these products, the customer demanded repayment from the company.
At the same time, the announcement said that Hywin has set up a special investigation committee composed of senior executives to supervise the internal investigation, which is still in the early stage, and the company will release major progress in the investigation in a timely manner.
On December 15, Han Hongwei, chairman of Hywin Holdings, issued a "letter to customers", saying that he would "safeguard the interests of customers and employees and be resolutely responsible to the end".
However, Hywin's customers are still difficult to feel at ease, after all, such a statement seems familiar. Some customers poured into the office building of Hywin Wealth. The actual controller, Han Hongwei, came forward to appease, but at the meeting, all he could say over and over again was "give a solution within 2 weeks".
According to people in the wealth management industry, the wealth management products sold by Hywin Wealth include **, insurance, non-standard wealth management, etc. Among them, non-standard wealth management products mainly include: directional financing plans, trusts, private equity and various special asset management plans.
Since the mainstream customer group of Hywin Wealth is not high-net-worth individuals, it is likely that the financial products it sells are mostly targeted financing plans.
Hywin Wealth's product advertising this year is due to the filing system for fixed financing products, and the project can be financed after completing the filing at the financial asset exchange (or trading center). The FSE is generally established with the approval of the local ** or local financial supervision and administration bureau, and is supervised by the local financial office.
Industry insiders said that most of the fixed financing products in the current market are basically in all kinds of gold exchanges for the record, there are a lot of cats in it, these products are packaged as fixed income financial projects, investment yields range from 8% to 10%, the underlying assets are very different, there are real estate, there are local debts, there are accounts receivable income rights, etc.
On the surface, the investment risk of these fixed financing products is not large, but in fact, there are hidden mysteries in them, and non-financial professionals often cannot understand their essence, even those so-called certified financial planners cannot fully understand the logic behind them, because many financial planners cannot look at product risks from an independent and objective perspective.
According to the 2023 financial report released by Hywin Holdings, as of June 30, 2023, Hywin Holdings' net income during the reporting period was RMB209.2 billion yuan, a year-on-year increase of 771%；Net profit of RMB12 billion yuan, a year-on-year decrease of 4901%。Hywin Holdings also disclosed that the total number of Hywin financial planners in this fiscal year was 1,749, a year-on-year increase of 31%, with 46,627 active customers. The number of key cities covered reached 91, and the number of wealth centers reached 185, which continued to grow over the previous year.
We will continue to track the follow-up progress of Hywin Wealth.
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