The past few months have been busy for the Chinese group, which has moved further into the health management space. Profits and revenues rose in the first six months of this year from the same period a year ago.

Hywin Holdings, the Shanghai-based group which this publication recently interviewed over its push into the health management space, has said that net income in the first half of 2022 rose by 33.5 per cent to RMB165.5 million ($25.5 million) from a year ago. 

Net revenues rose by 9.9 per cent to RMB1.06 billion from RMB965.1 million in the same period of 2021, driven by the rising revenues from private market investment products, it said in a statement yesterday. 

Net revenues per relationship manager increased by 4.6 per cent to RMB640,000 from RMB620,000 a year ago.

Assets under management of asset management business rose by 36.9 per cent to RMB4.5 billion from RMB3.3 billion at 31 December 2021.

Hywin had a total of 141,058 clients at the end of June this year, rising from 127,317 on 30 June 2021.

“Despite the worldwide macroeconomic turbulence and challenges brought by the pandemic, we are very pleased to report that Hywin delivered a set of solid operating and financial results in fiscal year 2022, driven by our ongoing diversification of growth drivers and our agile response to the evolving operating environment internally and externally,” Madame Wang Dian, chief executive and director of Hywin, said. 

“We ended fiscal year 2022 on a solid footing with total net revenues of RMB1.942.1 billion and net income of RMB235.9 million. Our operating margin improved from 15.4 per cent in fiscal year 2021 to 16.8 per cent in fiscal year 2022, demonstrating our efficiency gains and strong cost discipline,” Lawrence Lok, chief financial officer of Hywin, said. 

“Meanwhile, we continued to see momentum from our diversification transformation as business volumes in our venture capital funds and private equity funds products and hedge funds products grew by 111.8 per cent and 98.0 per cent year-on-year respectively, driven by our in-depth investment and research abilities, excellent product-sourcing capabilities, as well as a deep understanding of client demand,” Lok continued.