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Hywin Wealth slammed by China’s property slump

Photo by Kido Dong on Unsplash

Hywin Wealth Management has become the latest wealth manager to be ensnared by China’s property market slump, after it delayed payments on investment products and its shares tumbled by about 60%. The Shanghai-based, NASDAQ-listed company this week apologised for “inconvenience caused to investors”, blaming delayed wealth product repayments on China’s economic downturn. Shares in Hywin, which has said its serves…

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