Aug 25, 2026 earnings call — Singapore AI wealth model validated
Singapore AI wealth model reached monthly profitability; U.S. dollar-denominated AUM reached USD 6.5 billion.
Revenue $0.1B (est $0.1B) · EPS $0.51
Key quotes
"Today, 92% of clients are covered by our AI-enabled service model for day-to-day engagement, while licensed professionals remain responsible for regulatory activities, professional judgment and compliant delivery."
"Net performance-based income or what we call carry reached RMB 238 million in the first half, up 364% year-over-year."
"Operating costs and expenses declined 11.6% year-over-year in the first half, including a 12.7% reduction in personnel costs."
Analyst Q&A 1
AI transition and RM performance
Q (Peter Zhang · JPMorgan): He asked how long the AI transition could take, what metrics or longer-term targets (3–5 years) investors should watch, and how KPIs and RM productivity change under the new AI wealth management model (clients and AUM per RM).
A: Management said they are building a new system based on "3 platforms": AI-empowered RMs, an AI wealth management department, and an "AI plus ecosystem expansion," so it's no longer just about how many clients one RM can serve. They gave Singapore as an example: with only 6 people they cover 500 clients; AUM grew from around RMB 86 million at start to over RMB 400 million with high-margin AUM, they plan to replicate the model to Hong Kong and other cities, and they said a 5-year target "is probably not the best" because changes can be very fast.
"What we've been repetitively talking about is how we've been using 3 platforms, which is the AI-empowered RMs." — Doreen Chiu