Hywin Holdings Announces Updates on Strategic Business Transformation Plan

SHANGHAI, June 28, 2024 (GLOBE NEWSWIRE) -- Hywin Holdings Ltd. (the “Company”) (NASDAQ: HYW) today announced updates on its plan for strategic business transformation. Reference is made to the announcement made by the Company on March 27, 2024 (the “Announcement”) where the Company announced its plan for strategic business transformation. The Company has continued to assess ongoing changes in its operating environment, and today announced further updates to transform its businesses, including: (i) completely exit the wealth management and asset management businesses by terminating the China VIE Agreements (as defined below), (ii) shift its business focus towards the technology sector, and (iii) change the Company’s name to Santech Holdings Limited.