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Puyi Inc. (NASDAQ: PUYI) reported its unaudited financial results for the first half of fiscal year 2023, revealing a 32.6% decrease in net revenues to RMB68.4 million (US$9.9 million) compared to the same period in 2022. However, net loss decreased by 19.9% to RMB31.5 million (US$4.6 million), attributed to effective cost control measures. Wealth management services experienced a 43.2% decline in revenues, while insurance consulting services grew by 112.7%. Despite current challenges, management expresses optimism about future growth due to recent market recoveries and strategic enhancements in service offerings.
Puyi Inc. (NASDAQ: PUYI), a third-party wealth management provider in China, announced it will release its unaudited financial results for the first half of fiscal year 2023, ending December 31, 2022, on March 20, 2023. Senior management will host a bilingual conference call to discuss these results and business developments. The call is scheduled for March 20, 2023, at 9:00 PM EDT (March 21 at 9:00 AM Beijing/Hong Kong time). Investors can pre-register for the call and access a live webcast on Puyi's investor relations website.
Puyi Inc. (NASDAQ: PUYI), a leading third-party wealth management service provider in China, has appointed Mr. Youjie Kong as co-chairman of its board of directors, effective immediately. Mr. Kong brings over 30 years of experience in the financial industry, including significant roles in regulatory bodies and well-known financial firms. His appointment is expected to enhance Puyi’s management and drive future growth. The board now consists of seven directors, with three being independent.