Welcome to our dedicated page for Highest Performances news (Ticker: hph), a resource for investors and traders seeking the latest updates and insights on Highest Performances stock.
Highest Performances Holdings Inc. (HPH) delivers innovative financial technology solutions through its insurance agency services, claims adjusting expertise, and wealth management platforms. This news hub provides investors and industry observers with essential updates about HPH's strategic initiatives, financial performance, and market positioning.
Key resources include: Earnings reports, leadership announcements, partnership developments, and regulatory updates. Track the company's progress in digital transformation initiatives and its three core business segments through verified press releases and objective news coverage.
Users will find chronological updates about HPH's insurance product expansions, wealth management innovations, and claims processing advancements. The curated content supports informed analysis of the company's growth trajectory within the financial technology sector.
Bookmark this page for streamlined access to HPH's latest corporate communications. Check regularly for updates on operational milestones, financial disclosures, and strategic partnerships that shape the company's role in modern financial asset allocation solutions.
Highest Performances Holdings (NASDAQ: HPH) announced that Mr. Youjie Kong has resigned from the Board of Directors due to personal reasons, effective November 25, 2024. The company clarified that his resignation was not due to any disagreements related to the company's operations, policies, or practices. HPH expressed its appreciation for Mr. Kong's dedicated service.
Highest Performances Holdings (NASDAQ: HPH) has received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement. The company's ADSs have traded below $1.00 for 35 consecutive business days. HPH has been granted a 180-day compliance period until May 20, 2025 to regain compliance by maintaining a closing bid price of $1.00 or higher for at least 10 consecutive business days. If unsuccessful, HPH may be eligible for an additional 180-day period if it meets other listing requirements. The company plans to take measures to regain compliance, including potentially implementing a reverse stock split.
Highest Performances Holdings (NASDAQ: HPH) has announced the filing of its annual report on Form 20-F for the fiscal year ended June 30, 2024, with the SEC on November 15, 2024. The report, which includes audited financial statements, is accessible on both the SEC's website and the company's investor relations page. Shareholders can request free hard copies of the annual report.
Highest Performances Holdings (NASDAQ: HPH) held an extraordinary general meeting and separate class meeting in Guangzhou on October 31, 2024, where shareholders approved significant changes to the company's share structure. The authorized share capital will increase from US$2,000,000 to US$5,000,000, with existing shares being reorganized into two new classes: 4 billion Class A Ordinary Shares and 1 billion Class B Ordinary Shares. Notably, Class A shares will carry one vote each, while Class B shares will have 100 votes per share. The company also approved a new fourth amended and restated memorandum and articles of association to reflect these changes.
Highest Performances Holdings Inc. (NASDAQ: HPH) announced changes to its Board of Directors, effective September 30, 2024. Ms. Hang Suong Nguyen was appointed as the new Chairwoman, succeeding Mr. Chin Hua Peh, who remains a director. Ms. Nguyen brings experience from her roles as Vice President at WEALTH WILL and Sales Director at Trustwell Far East Pte.
The Board also appointed Dr. Lihong Zhai as independent director and chairman of the audit committee, Ms. Min Zhou as independent director and chairwoman of the nominating and governance committee, and Ms. Yingying Li as independent director and chairwoman of the compensation committee. Mr. Jidong Luo resigned from the Board due to personal reasons.
The new Board consists of eight directors, including three independent directors. HPH aims to transform into an intelligent service provider for families and businesses, leveraging AI technology to create a comprehensive service platform.
Highest Performances Holdings Inc. (NASDAQ: HPH) announced changes to its Board of Directors, effective September 30, 2024. Ms. Hang Suong Nguyen has been appointed as the new chairwoman, succeeding Mr. Chin Hua Peh, who will continue as a director. Ms. Nguyen brings over 10 years of investment management experience. The company also announced the resignation of Mr. Jidong Luo as director and chairman of the audit committee.
Additionally, HPH appointed three new independent directors: Dr. Lihong Zhai (chairman of the audit committee), Ms. Min Zhou (chairwoman of the nominating and governance committee), and Ms. Yingying Li (chairwoman of the compensation committee). Following these changes, the Board consists of eight directors, including three independent directors.
Highest Performances Holdings Inc. (NASDAQ: HPH) has announced an extraordinary general meeting (EGM) and class meeting of ordinary shareholders to be held on October 31, 2024 at 10:30 a.m. (Beijing time). The meeting will take place at the company's executive office in Guangzhou, China. Shareholders of record as of October 1, 2024 (Eastern Time) are eligible to vote at the EGM or through proxy.
Holders of American depositary shares (ADSs) as of the same date who wish to exercise their voting rights must do so through Deutsche Bank Trust Company Americas, the depositary of HPH's ADS program. The notice of the EGM and voting instruction card for ADS holders are available on the company's Investor Relations website at https://ir.puyiwm.com/.
Puyi Fund, a subsidiary of Highest Performances Holdings Inc. (NASDAQ: HPH), has won the '2024 Outstanding Wealth Management Award' at the 13th CFS Finance Summit in Beijing. The company's innovative comprehensive family wealth management account system and personalized service solutions have been highly recognized for meeting diverse investor needs and enhancing risk management.
In the first half of 2024, despite challenging market conditions, Puyi Fund's flagship portfolios achieved positive returns, with most exceeding their benchmarks. The Jinniu Hong Kong stocks portfolio particularly stood out, benefiting from a robust market rebound and effective drawdown control.
As of June 30, 2024, Puyi Fund had integrated 118 public fund companies and over 11,000 individual public funds. The company's institutional business has grown rapidly, particularly among large financial institutions. By December 31, 2023, Puyi Fund's cumulative asset allocation service scale exceeded 75.1 billion yuan, with a compound annual growth rate of 128.8% from 2015 to 2023.
Highest Performances Holdings (NASDAQ: HPH) announced a collaboration with Singapore White Group Pte. to invest in premier international sports events, including the Davis Cup, Billie Jean King Cup, and the Formula 1 World Championship.
The investment totals $250 million, with estimated net profits of $8 million for 2024 tennis events, $20 million for 2025 tennis championships, $45 million for the 2025 F1, and over $300 million from 2025 to 2029 for combined tennis and F1 events. Key events include the 2024 Davis Cup Finals in Macao-Hengqin, the 2024 Billie Jean King Cup Finals in Guangzhou or Shenzhen, the 2025-2029 Tennis World Cup across various Chinese cities, and the 2025 F1 in Guangzhou.
CEO Yinan Hu noted that these investments would significantly advance HPH's internationalization strategy, generate substantial cash flow, and enhance the company's global image.
Fanhua announced the grant of share options to key employees as part of its 2022 Share Inventive Plan. On July 2, 2024, the Board approved issuing options for up to 6,900,000 American Depository Shares (ADS) to 15 management team members. The options have an exercise price of US$1.92 per ADS and are exercisable until July 15, 2024, subject to conditions. The company may offer a 3% per annum loan to facilitate the exercise. Employees receiving options must commit to a three-year service period. CEO Yinan Hu highlighted the confidence of key employees in Fanhua’s growth, aiming to align their interests with the company's long-term success.
