Hywin Holdings Announces Strategic Business Transformation Plan
SHANGHAI, China, March 27, 2024 (GLOBE NEWSWIRE) -- Hywin Holdings Ltd. (“Hywin”, or the “Company”) (NASDAQ: HYW) today announced its plan for strategic business transformation in light of recent regulatory policies and market developments.
- SHANGHAI, China, March 27, 2024 (GLOBE NEWSWIRE) -- Hywin Holdings Ltd. (“Hywin”, or the “Company”) (NASDAQ: HYW) today announced its plan for strategic business transformation in light of recent regulatory policies and market developments.
- Sharpen focus on the following businesses:
insurance brokerage services: Hywin will simplify and improve the competitiveness of its commission structures in order to promote its insurance brokerage business. - As part of the business transformation plan, Hywin is undertaking a structural reorganization plan, which includes elimination of certain positions and aggressive cost saving measures, including the redundancy of approximately 300 middle- and back-office employees.
- While the Company believes its strategic business transformation plan will open up opportunities for a “New Hywin” and bring about sustainable growth in the long run, it cautions investors about the risks associated with investing in the Company’s American Depositary Shares.