Jupai Reports Third Quarter 2019 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, Nov. 22, 2019 /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 third quarter and nine months ended September 30, 2019.THIRD QUARTER AND FIRST NINE MONTHS 2019 FINANCIAL HIGHLIGHTSNet revenues in the third quarter of 2019 were RMB182.1 million (US$[1]25.5 million), a decrease of 41.4% from the corresponding period in 2018. For the first nine months of 2019, net revenues were RMB649.0 million (US$90.8 million), a decrease of 45.3% from the same period in 2018. (RMB '000, except percentages)Q3 2018Q3 2018 %Q3 2019Q3 2019 %YoY Change %One-time commissions147,71847.6%102,65656.4%-30.5%Recurring management fees96,37931.0%50,09827.5%-48.0%Recurring service fees10,1443.3%29,33816.1%189.2%Other service fee
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