Jupai Holdings (JP) Reports Q3 EPS of $0.11

Jupai Holdings (NYSE: JP) reported Q3 EPS of $0.11. Revenue for the quarter came in at $45.2 million.

• Non-GAAP net income attributable to ordinary shareholders per diluted ADS for the third quarter of 2018 was RMB0.73 (US$0.11), as compared to RMB3.69 for the corresponding period in 2017. For the first nine months of 2018, non-GAAP net income attributable to ordinary shareholders per diluted ADS was RMB7.60 (US$1.11), as compared to RMB10.42 for the same period in 2017.
• Net revenues in the third quarter of 2018 were RMB310.6 million (US[1]$45.2 million), a 29.5% decrease from the corresponding period in 2017. For the first nine months of 2018, net revenues were RMB1,187.4 million (US$172.9 million), a decrease of 4.7% from the same period in 2017.

"China's wealth management industry has been facing strong headwinds over the past few quarters," said Mr. Jianda Ni, Jupai\'s chairman of the board and chief executive officer. "Since early 2018, we have seen investors becoming increasingly conservative due to an uncertain economic outlook in China and globally, a weakening real economy as a result of deleveraging and tightened regulations in the financial services industry. As a result, the aggregate value of wealth management products distributed by Jupai during the first nine months of 2018 decreased by 32.8% from that in the corresponding period in 2017 to RMB25.9 billion. However, as real estate companies continue to face rising cost of capital, we have benefited from our enhanced bargaining power. Our average one-time commission rate reached 2.8% in the third quarter, up from 2.2% in the corresponding period in 2017, reflecting Jupai\'s competitive advantage across the wealth management industry value chain."

For earnings history and earnings-related data on Jupai Holdings (JP) click here.

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