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HONG KONG, May 27, 2016 - (ACN Newswire) - Jupai Holdings Limited, a leading third-party wealth management service provider, (NYSE: JP) ("Jupai" or the "Group") has announced the opening of its Hong Kong office ("Jupai HK") at the grand opening ceremony held at the Island Shangri-la Hong Kong yesterday, marking its official entry to Hong Kong.
 | | From left to right: Mr. Wesley Yao Wei-shi, Co-founder, Director and COO of Jupai; Mr. Tony Hu Tian-xiang, Founder, Co-Chairman and Executive Chairman of the Board of Directors of Jupai; Mr. Zhou Xin, Chairman and CEO of E-House China;Mr. Jia Bo-Wei, Partner and Executive Director of Juhui Financial Securities Limited; Mr. Jack Ni Jian-da, Co-Chairman and CEO of Jupai; Mr. Zhou Cheng, Vice President of Jupai Asset Management; General Manager of Jupai HK; and Executive Director of Juhui Financial |
Jupai is one of the first established and largest professional wealth management service providers in China with a focus on wealth and asset management and internet financial services. It offers integrated financial services to high net-worth individuals. As of March 2016, its national network comprising 58 offices covers 35 cities in China, such as Shanghai, Beijing, Suzhou, Hangzhou and Xiamen, with headquarters in Shanghai. The Group has achieved outstanding results for the first quarter ended 31 March 2016. The aggregate value of wealth management products distributed by the Group was RMB 10.8 billion, a 140.2% increase from the corresponding period in 2015, while total assets under management rose by 668.6% year-on-year to RMB 21.4 billion.
Since the Group's listing on the New York Stock Exchange last July, it has focused on the opening of the Hong Kong office, a key move in advancing its strategic international presence. Jupai has acquired a securities firm licensed for Type 1 (dealing in securities), Type 4 (advising on securities) and Type 9 (asset management) by the Securities and Futures Commission. The acquired company was subsequently renamed as Juhui Financial Securities Limited. Leveraging its abundant international experience, the management team of Jupai HK provides a professional advisory service for clients and has introduced a series of comprehensive products including private equity and venture capital, real estate funds, mutual funds and hedge funds.
As the domestic capital markets in China declined and the volatility in the RMB increased during the second half of 2015, high-net-worth clients have fixed their attention to overseas asset allocation in order to maintain a more balanced portfolio. According to a report issued by the independent international property consultancy Knight Frank, Chinese outbound real estate investment reached US$30 billion in 2015, which was double that of 2014 and around 50 times the US$600 million tally in 2009.
Mr. Tony Hu Tian-xiang, Founder, Co-Chairman and Executive Chairman of the Board of Directors of Jupai, said at the opening ceremony, "The opening of Jupai HK is of strategic significance to us. Firstly, it represents a key step forward in our international expansion. Secondly, our philosophy is to be a 'dedicated and responsible wealth management expert,' so Jupai HK can provide more comprehensive investment products and optimized services for investors." He also believed that Jupai and Jupai HK together have a bright future, regardless of changes in the market or in Jupai's product lines.
Mr. Jack Ni Jian-da, Co-Chairman and CEO of Jupai, said "Jupai has chosen Hong Kong as the first stop for our strategic overseas layout, not only for the attraction and competitiveness arising from the city's status as an international financial centre. Jupai HK itself can also contribute to the diversification of this capital market. We believe that the newly established Jupai HK can bring more and better products and services to Jupai's high-net-worth clients through working closely with and the strong support of Hong Kong's industry players and partners."
Mr. Wesley Yao Wei-shi, Co-founder, Director and COO of Jupai, said "The successful opening of Jupai HK was a result of the 'right time, right place and right people.' Entering the Hong Kong market marks an important advance in Jupai's international expansion strategy subsequent to our listing on NYSE a year ago. It comes at the 'right time' as the RMB starts internationalization and interest in overseas asset allocation by high-net-worth individuals in mainland China is increasing. Shanghai, Jupai's headquarters, and Hong Kong have both been called 'The Pearl of the Orient' and are set to attract more quality investment opportunities as the 'right place' through geographic and financial advantages. Jupai HK has attracted top professionals from Wall Street, Japan and Hong Kong to join it, bringing all the 'right people' under one roof.'"
Mr. Yao also hoped that Jupai and Jupai HK could build a more professional and stronger corporate presence in Greater China Region with the assistance of partners in Hong Kong and Mainland China.
Mr. Zhou Xin, Chairman and CEO of E-House China, the largest shareholder of the Group, said, "Through a stroke of good fortune, E-House China has invested in Jupai, a dynamic and competitive company. This investment has generated surprisingly good returns for us, growing rapidly in five years and becoming one of the leaders in the wealth management industry in Mainland China. In the mature capital market of Hong Kong, the new Jupai HK may now just be a small player, but with Jupai's strong team comprising more than 1,000 financial management experts and an extensive customer base of tens of thousands of high-net-worth clients, Jupai HK is set to perform better, just like Jupai and E-House China."
Photo Caption:
Group Photo of Jupai's management in its Hong Kong office.
From left to right:
- Mr. Wesley Yao Wei-shi, Co-founder, Director and COO of Jupai
- Mr. Tony Hu Tian-xiang, Founder, Co-Chairman and Executive Chairman of the Board of Directors of Jupai
- Mr. Zhou Xin, Chairman and CEO of E-House China
- Mr. Jia Bo-Wei, Partner and Executive Director of Juhui Financial Securities Limited
- Mr. Jack Ni Jian-da, Co-Chairman and CEO of Jupai
- Mr. Zhou Cheng, Vice President of Jupai Asset Management; General Manager of Jupai HK; and Executive Director of Juhui Financial Securities Limited
- Mr. Chen An-min, Executive President and Chief Risk Officer of Jupai
Contact:
Jupai Holdings Limited
Name: Qiu Chunfeng
Tel: +86-21-60269151/+86-18501732003
Email: qiuchunfeng@jpinvestment.cn
Strategic Financial Relations Limited
Name: Denise Siu/ Kally Lam
Tel: (852) 2114 4913 / (852) 2114 4915
Email: denise.siu@sprg.com.hk / kally.lam@sprg.com.hk
Topic: Press release summary
Source: Jupai Holdings Limited
Sectors: Daily Finance, Daily News
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From the Asia Corporate News Network
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