Summary
On March 23, Haiyin Holdings (NASDAQ: HYW) released its financial report for the first half of fiscal year 2023. During the reporting period, Haiyin Holdings' new asset allocation scale in the wealth management segment and the customer asset scale (AUM) in the asset management segment both achieved significant growth, and business development remained strong and resilient, bucking the trend. During the period, under the guidance of the two-wheel drive strategy of "wealth management" and "health management", Haiyin's "high-end health management" model has been widely favored by building a high-end health management full-process service system while the advantageous business has developed steadily.
Highlight 1 Wealth management business grew steadily
In the first half of fiscal year 2023, the scale of new asset allocation in the wealth management segment of Haiyin Holdings increased by 6.9% year-on-year to 40.11 billion yuan.
During the reporting period, despite many challenges from the external environment, Haiyin quickly responded to the market situation, continuously optimized the structure according to customer needs, met customers' differentiated asset allocation needs with diversified supply and innovative customized forms, and achieved growth against the trend. During the period, Haiyin also empowered business through digital upgrades, created a "1+N+X" professional service system, and promoted the construction of a professional platform for "investment research + asset allocation", laying a solid foundation for the steady growth of business.
Highlight 2: Rapid growth of asset management business
In the first half of fiscal year 2023, the asset management business of Haiyin Holdings will grow rapidly, and the scale of customer assets (AUM) will increase by 114.3% year-on-year to 7.01 billion yuan.
During the reporting period, under the guidance of the strategy of “going global for business and bringing in resources”, focusing on the diversified needs of customers, Haiyin Asset Management continued to promote the development of global business. Among them, the EAM business achieved rapid development through integrated services, and has become The flagship of asset management, the current AUM exceeds 5.8 billion yuan. Haiyin Cayman Fund business continues to develop steadily, with AUM currently exceeding RMB 700 million, bringing steady investment returns to clients and becoming the second engine of Haiyin's asset management business.
Highlight 3 The total number of customers hit a record high
In the first half of fiscal year 2023, the total number of Haiyin Holdings customers reached 146,000, a record high, an increase of 8.7% year-on-year; the number of active customers was close to 37,000, an increase of 3.9% year-on-year; among them, the "customer reciprocating allocation rate" reached 80.5%.
During the reporting period, Haiyin followed the development trend of China's wealth management market, deeply cultivated the regional market, fully tapped the market potential, and actively seized market opportunities, gradually increasing its market share and increasing customer stickiness. During this period, Haiyin also took Haiyin Family Office as a starting point to deeply understand customer needs, expand service areas to accompany customers throughout the life cycle of their families, and continuously meet customers' personalized and comprehensive needs. While winning the trust and entrustment of customers, it also expanded the brand influence of Haiyin.
Highlights Four talent teams develop steadily
In the first half of the fiscal year of 2023, the team of Haiyin Holdings' financial planners will further expand, with a total of 1,738, a year-on-year increase of 7.6%.
During the reporting period, Haiyin promoted the healthy and orderly development of the organization. Through the establishment of an agile organization and the establishment of a long-term incentive mechanism, it built a team that adhered to long-term principles. Stability and cohesion have also attracted more outstanding professionals to join. Under the guidance of the talent strategy of "attracting talents, cultivating talents and retaining talents", Haiyin's talent team has developed steadily, and the effectiveness of talents has continued to increase.
Highlight 5 High-end health management is gaining momentum
In the first half of fiscal year 2023, the total number of Haiyin Health customers is 28,763, including 12.44 million yuan in revenue from physical examination business, 4,936 people in the number of physical examinations, 2,520 yuan per customer, 25.86 million yuan in health management business revenue, and 1,178 service customers. The revenue is 21,952 yuan, and the unit price of business customers is much higher than the industry average.
During the reporting period, Haiyin actively implemented the two-wheel drive strategy of "wealth management" and "health management". While developing its advantageous businesses steadily, it also made efforts in the high-end health management market. In fiscal year 2022 and fiscal year 2023, the company will build a full process of high-end health management by acquiring professional institutions such as Great Doctor Medical Co., Ltd., Beijing Meili Sansheng Technology Co., Ltd. (“Lifehui”), Zhicheng and Aijian Management Center Service system; at the same time, using technology to empower, build a digital AI health evaluation system and management platform for the health management business, manage customer data in a refined manner, and formulate exclusive health management solutions for customers. Haiyin's "high-end health management" model is being verified by the market and widely favored by customers.