Jupai Reports Second Quarter 2020 Results
Jupai Holdings Limited American Depositary Shares, each representing six ordinary shares (JP)
US:NYSE Investor Relations:
jupai.investorroom.com
Company Research
Source: PR Newswire
SHANGHAI, Aug. 7, 2020 /PRNewswire/ -- Jupai Holdings Limited ("Jupai" or the "Company") (NYSE: JP), a leading third-party wealth management service provider, focusing on distributing wealth management products and providing quality product advisory services to high-net-worth individuals in China, today announced its unaudited financial results for the second quarter and six months ended June 30, 2020.SECOND QUARTER AND FIRST HALF 2020 FINANCIAL HIGHLIGHTSNet revenues in the second quarter of 2020 were RMB108.4 million (US$[1]15.3 million), a decrease of 41.7% from the corresponding period in 2019. For the first half of 2020, net revenues were RMB205.0 million (US$29.0 million), a decrease of 56.1% from the same period in 2019.For the quarter ended June 30(RMB '000, except percentages)Q2 2019Q2 2019 %Q2 2020Q2 2020 %YoY Change %One-time commissions86,51046.5%47,78544.0%-44.8%Recurring management fees67,75636.5%32,69730.2%-51.7%Recurring service fees31,60317.0%27,95525.8%-11.5%Other se
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