Jupai wilts as Q3 margin contracts due to wary investors [Seeking Alpha]
Jupai Holdings Limited American Depositary Shares, each representing six ordinary shares (JP)
US:NYSE Investor Relations:
jupai.investorroom.com
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Source: Seeking Alpha
Junpai Holdings (NYSE: JP ) in premarket trading after fiscal Q3 adjusted net income per diluted ADS sinks to RMB 0.73 ($0.11) from RMB 3.69 a year ago. Q3 adjusted net margin attributable to ordinary shareholders shrinks to 8.2% from 28.6% a year ago. Faced with an uncertain economic outlook in China, investors have become more cautious, the company says. Aggregate value of wealth management products distributed by Jupai during first nine months of its fiscal year fell by 33% to RMB 25.9B from a year ago, the company says. Q3 net revenue fell 30% to RMB 310.6M (US$45.2M) from RMB 440.8M a year ago. Total assets under management as of Sept. 30, 2018 were RMB 57.8B (US$8.4B), up 1.9% from June 30, 2018. Previously: Jupai Holdings reports Q3 results (Dec. 7) See all stocks on the move » Now read: Xinyuan Real Estate the only financial gainers; PPDAI Group and InfraREIT among losers » Subscribe for full text news in your inbox
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