Shares of Shanghai Guijiu, connected to wealth manager Hywin, extend slide
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SHANGHAI, Dec 18 (Reuters) - Shares of Shanghai Guijiu Co, a spirit maker that is connected to struggling wealth manager Hywin, extended their losses on Monday to touch the lowest level since April, 2021.
Guijiu shares slumped as much as 7.1% in early morning trade, after tumbling 17% last week.
Han Hongwei, a connected party with Guijiu, controls the wealth management unit of Hywin Holdings Ltd, according to the company's annual report. Hywin said last week it had been unable to promptly fulfill client redemption requests. (Reporting by Shanghai newsroom; Editing by Muralikumar Anantharaman)
