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NYSE has initiated proceedings to delist the American Depositary Shares (ADSs) of Jupai Holdings Limited (ticker: JP) after its trading was suspended on June 24, 2022. This decision follows the Company's failure to meet the NYSE's continued listing standard, which requires an average global market capitalization of at least $15 million over 30 consecutive trading days. The Company has the right to appeal this determination, and the NYSE will seek approval from the Securities and Exchange Commission to finalize the delisting.
Jupai Holdings Limited (NYSE: JP) reported a 13.4% decline in Q1 2021 net revenues of RMB83.7 million compared to Q1 2020. One-time commissions dropped by 20.9% to RMB31.2 million, while recurring service fees decreased by 13.1%. Despite revenue declines, the company returned to profitability with a net income of RMB3.9 million, up from a loss of RMB19.9 million in Q1 2020. Active clients increased by 33% sequentially to 608, and total assets under management were RMB32.9 billion, a decrease from RMB39.8 billion year-over-year. Jupai remains optimistic about China's wealth management market.
Jupai Holdings Limited (NYSE: JP) reported its financial results for Q4 and full year 2020, highlighting significant challenges. Q4 net revenues dropped by 28.4% year-over-year to RMB 98.0 million, while full-year revenues fell by 50.6% to RMB 388.2 million. One-time commissions decreased by 45.7%, and recurring management fees plunged 71.1%. However, Jupai achieved a Q4 net income of RMB 2.0 million, reversing losses from the previous year. Active clients shrank by 42.9% to 1,700, and assets under management fell to RMB 33.8 billion.
Jupai Holdings Limited (NYSE: JP) reported a significant decline in revenues for Q3 and the first nine months of 2020. Net revenues for Q3 were RMB85.1 million, down 53.2% year-over-year, and RMB290.2 million for the nine months, a 55.3% decrease. Key factors included drops in one-time commissions and recurring management fees. Operating loss for Q3 was RMB15.0 million, an improvement from RMB40.2 million in 2019. However, net loss attributable to ordinary shareholders fell to RMB3.0 million from RMB47.9 million. Jupai's operational efficiency improved, with operating costs down 54.9% in Q3.
Jupai Holdings Limited (NYSE: JP) reported a significant decline in its financial performance in Q2 2020, with net revenues of RMB108.4 million (US$15.3 million), down 41.7% year-over-year. For H1 2020, revenues fell by 56.1% to RMB205.0 million (US$29.0 million). The company faced a loss of RMB10.5 million (US$1.5 million) in Q2, improving from a loss of RMB61.0 million in the same period of 2019. Active clients decreased to 701 from 1,039 year-over-year. Operating costs dropped by 49.2%, aiding sequential bottom-line improvement. Jupai remains optimistic about long-term prospects amidst current market challenges.
Jupai Holdings Limited (NYSE: JP), a leading wealth management service provider in China, announced it will report its unaudited financial results for Q2 2020 on August 7, 2020, before U.S. markets open. An earnings conference call will follow at 8:00 a.m. U.S. Eastern Time on the same day. Interested parties can pre-register for the call and access a replay until August 13, 2020. With a focus on high-net-worth individuals, Jupai has established a trusted brand through quality advisory services and a broad range of wealth management products.
