Jupai Reports Third 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, Nov. 23, 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 third quarter and the nine months ended September 30, 2020.THIRD QUARTER AND FIRST NINE MONTHS 2020 FINANCIAL HIGHLIGHTSNet revenues in the third quarter of 2020 were RMB85.1 million, a decrease of 53.2% from the corresponding period in 2019. For the first nine months of 2020, net revenues were RMB290.2 million, a decrease of 55.3% from the same period in 2019.For the quarter ended September 30(RMB '000, except percentages)Q3 2019Q3 2019 %Q3 2020Q3 2020 %YoY Change %One-time commissions102,65656.4%36,29542.6%-64.6%Recurring management fees50,09827.5%22,40026.3%-55.3%Recurring service fees29,33816.1%26,44531.1%-9.9%Other service fees
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