Jupai Holdings Limited (NYSE:JP)

• Net revenues in the second quarter of 2015 were US$16.8 million, an 85.9% increase from the corresponding period in 2014. For the first half of 2015, net revenues were US$30.7 million, an increase of 79.3% from US$17.1 million for the same period in 2014.
• Net income per basic and diluted ADS for the second quarter of 2015 was US$0.31 and US$0.30, respectively, as compared to US$0.25 and US$0.24, respectively, for the corresponding period in 2014.

"We are pleased to report strong results for the second quarter of 2015 with solid revenue and profit growth," said Mr. Jianda Ni, Jupai's co-chairman of the board and chief executive officer. "Jupai's successful IPO in July on the New York Stock Exchange is an important milestone that will enhance our brand image, deepen client trust and add to our strong cash balance and liquidity position. The acquisition of E-House Capital, the former asset management business unit of E-House (China) Holdings Limited (NYSE: EJ) , completed simultaneously with our IPO, substantially expands Jupai's asset management services and strengthens our direct investment capabilities in private equity products. We believe this acquisition lays a solid foundation for the future growth of our integrated wealth management advisory and asset management platform."

Mr. Ni continued, "The increased volatility in China's equity markets since June this year has been a wake-up call for Chinese investors, including high-net-worth individuals, who increasingly appreciate the value of professional wealth management advice. As a leader in China's wealth management services industry, Jupai is well-positioned to take advantage of this new trend. The aggregate value of wealth management products distributed by Jupai reached a historical peak in July. Looking to the second half of 2015, Jupai's leading real estate expertise and resources allow us to provide a wide range of high-quality real estate-related fixed income investment products which we are confident that China's high-net-worth investors will increasingly find attractive. While focusing on our core businesses, Jupai continues to explore new growth areas and we look forward to commencing our overseas business with the establishment of our Hong Kong subsidiary."

Mr. Tianxiang Hu, Juapi's co-chairman and executive chairman of the board commented, "In August 2015, Jupai entered China's growing Internet finance industry through our investment in "Jubaopen", a P2P Internet finance company that connects potential borrowers with investors through offline storefronts and its online asset allocation platform. We aim to take advantage of further opportunities to broaden our presence in this fast-growing sector while addressing the ever-evolving wealth management needs of our clients."

Ms. Min Liu, Jupai's chief financial officer, said, "In the second quarter, Jupai's business continued to develop rapidly with strong revenue and bottom-line growth year over year. Driven by the industry leading productivity of Jupai's wealth management advisors, we are pleased to see a healthy increase in both the number of active clients and investment value per client in the second quarter."

Business Outlook

The Company estimates that its revenues for the third quarter of 2015 will be in the range of US$21 million to US$23 million, an increase of 105.9% to 125.5% compared to the same quarter in 2014. This forecast reflects the Company's current and preliminary view, which is subject to change.