Hywin and Tencent Cloud Form Strategic Partnership Agreement for Digital Transformation

Rhea-AI Summary

Hywin Holdings Ltd. (NASDAQ: HYW) has signed a strategic partnership agreement with Tencent Cloud to leverage cutting-edge technology for digital transformation in wealth and health management. The alliance aims to enhance client-centric strategies, maximize data efficiency, and drive next-generation solutions in wealth and health management using AI and cloud computing.

SHANGHAI, China, Dec. 01, 2023 (GLOBE NEWSWIRE) -- Hywin Holdings Ltd. (“Hywin Wealth”, “Hywin”, or the “Company”) (NASDAQ: HYW), a leading independent wealth management and health management service provider in China, is pleased to announce that the Company has officially signed a strategic partnership agreement with Tencent Cloud, a leading cloud computing provider in China, to fully leverage Tencent Cloud’s cutting-edge information technology and innovative digital solutions in various fields, including Cloud Computing, Artificial Intelligence (AI) and Big-data Analytics, to support Hywin’s digitalization transformation and facilitate its dual-engine development roadmap of wealth management and health management.

Hywin has already built out a green and secure hybrid cloud deployment based on Tencent Cloud’s expertise in cloud computing, which has enabled Hywin to execute its “client-centric” strategies. Under the new strategic alliance, Hywin will maximize the efficiency and benefits of its own data resources by further utilizing the cloud infrastructure and data compliance solutions provided by Tencent Cloud. Meanwhile, both parties agreed to work together to explore the application scenarios of AI-generated content based on the large language model in the wealth sector and health sector, in order to drive next-generation wealth management and health management solutions that are digitalized, low-latency and have a high degree of liveliness.

In addition, the strategic alliance between Hywin and Tencent Cloud will also be extended to the Digital Imaging Cloud Platform, which is one of the core pillars of Hywin Health’s “Four Megacloud Solutions” strategy. This platform focuses on cloud applications and management of digital health images and leverages AI analysis capabilities to render AI health imaging solutions in Hywin Health’s suite of high-end health management services.

“Digital transformation is our long-term strategy, which is in line with Hywin’s ‘long-termism’ development philosophy,” commented Zhu Hua, Chief Technology Officer of Hywin. “Hywin will continue to focus on the research and development of proprietary systems and technologies and create more in-house intellectual property rights. In the meantime, Hywin will work with leading technology partners such as Tencent Cloud to further our digital initiatives.”

Madame Wang Dian, Chief Executive Officer and Director of Hywin, commented, “We are excited to have Tencent Cloud as our strategic partner to support Hywin in our digital ecosystem. At Hywin, we are committed to offering high-net-worth clients with superior wealth management and health management products and services powered by technology. I believe Tencent Cloud can help us achieve our mutual goal of bringing innovative, convenient and accessible solutions to more Hywin clients and their families.”

About Hywin Holdings Ltd.

Hywin (NASDAQ: HYW) is a leading independent wealth management service provider in China focusing on providing asset allocation advisory services and comprehensive financial products to high-net-worth clients. The Company’s primary services are wealth management, asset management, other comprehensive financial services, and health management services. Wealth management is currently the Company’s largest business segment, in which its onshore and offshore solution platforms serve clients across generations. The Company also offers integrated and high-end medical examination, disease screening and other health management services to high-net-worth clients in China, and aims to become a dual-platform serving clients across market cycles and life cycles. For more information, please visit https://ir.hywinwealth.com/.

Investor Contact:
Hywin Holdings Ltd.
Email: ir@hywinwealth.com

Media Contact:
ICR, LLC
Email: HywinPR@icrinc.com 

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/21b6612b-35dd-411f-8071-468735d84a49 

FAQ

What is the recent announcement from Hywin Holdings Ltd. (NASDAQ: HYW)?

Hywin Holdings Ltd. (NASDAQ: HYW) has signed a strategic partnership agreement with Tencent Cloud to leverage cutting-edge technology for digital transformation in wealth and health management.

Who is the strategic partner of Hywin Holdings Ltd. (NASDAQ: HYW)?

The strategic partner of Hywin Holdings Ltd. (NASDAQ: HYW) is Tencent Cloud, a leading cloud computing provider in China.

What are the main objectives of the strategic partnership between Hywin Holdings Ltd. (NASDAQ: HYW) and Tencent Cloud?

The main objectives of the strategic partnership are to enhance client-centric strategies, maximize data efficiency, and drive next-generation solutions in wealth and health management using AI and cloud computing.

How will the strategic partnership benefit Hywin Holdings Ltd. (NASDAQ: HYW)?

The strategic partnership will benefit Hywin Holdings Ltd. by supporting its digital ecosystem and offering innovative, convenient, and accessible solutions to its clients.

Who commented on the strategic partnership from Hywin Holdings Ltd. (NASDAQ: HYW)?

Zhu Hua, Chief Technology Officer, and Madame Wang Dian, Chief Executive Officer and Director, commented on the strategic partnership from Hywin Holdings Ltd. (NASDAQ: HYW).