Intrinsic value of Jupai Holdings ADR - JP

Previous Close

$8.98

  Intrinsic Value

$1,685

stock screener

  Rating & Target

str. buy

+999%

Previous close

$8.98

 
Intrinsic value

$1,685

 
Up/down potential

+999%

 
Rating

str. buy

Our model is not good at valuating stocks of financial companies, such as JP.

We calculate the intrinsic value of JP stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  58.80
  53.42
  48.58
  44.22
  40.30
  36.77
  33.59
  30.73
  28.16
  25.84
  23.76
  21.88
  20.19
  18.68
  17.31
  16.08
  14.97
  13.97
  13.08
  12.27
  11.54
  10.89
  10.30
  9.77
  9.29
  8.86
  8.48
  8.13
  7.82
  7.53
Revenue, $m
  410
  628
  933
  1,346
  1,889
  2,583
  3,451
  4,512
  5,782
  7,276
  9,005
  10,976
  13,192
  15,656
  18,366
  21,318
  24,510
  27,934
  31,587
  35,461
  39,554
  43,860
  48,377
  53,103
  58,036
  63,180
  68,535
  74,106
  79,898
  85,917
Variable operating expenses, $m
  249
  380
  562
  808
  1,131
  1,546
  2,063
  2,695
  3,453
  4,344
  5,370
  6,545
  7,867
  9,336
  10,952
  12,712
  14,615
  16,657
  18,835
  21,146
  23,586
  26,154
  28,848
  31,665
  34,608
  37,675
  40,868
  44,190
  47,644
  51,233
Fixed operating expenses, $m
  20
  21
  21
  22
  22
  23
  23
  24
  24
  25
  25
  26
  27
  27
  28
  28
  29
  30
  30
  31
  32
  32
  33
  34
  34
  35
  36
  37
  38
  38
Total operating expenses, $m
  269
  401
  583
  830
  1,153
  1,569
  2,086
  2,719
  3,477
  4,369
  5,395
  6,571
  7,894
  9,363
  10,980
  12,740
  14,644
  16,687
  18,865
  21,177
  23,618
  26,186
  28,881
  31,699
  34,642
  37,710
  40,904
  44,227
  47,682
  51,271
Operating income, $m
  140
  228
  350
  517
  735
  1,015
  1,365
  1,792
  2,305
  2,907
  3,610
  4,405
  5,299
  6,293
  7,386
  8,578
  9,865
  11,247
  12,721
  14,285
  15,936
  17,674
  19,496
  21,403
  23,394
  25,470
  27,631
  29,879
  32,216
  34,646
EBITDA, $m
  149
  239
  365
  536
  760
  1,047
  1,406
  1,845
  2,371
  2,989
  3,705
  4,520
  5,438
  6,458
  7,579
  8,802
  10,123
  11,541
  13,053
  14,657
  16,352
  18,135
  20,005
  21,962
  24,005
  26,134
  28,352
  30,658
  33,056
  35,549
Interest expense (income), $m
  0
  0
  4
  9
  17
  28
  42
  59
  81
  109
  141
  179
  223
  273
  330
  393
  462
  537
  619
  706
  799
  898
  1,003
  1,112
  1,228
  1,348
  1,474
  1,605
  1,742
  1,884
  2,032
Earnings before tax, $m
  140
  224
  341
  499
  707
  973
  1,305
  1,711
  2,196
  2,767
  3,431
  4,182
  5,026
  5,963
  6,994
  8,116
  9,328
  10,628
  12,015
  13,485
  15,038
  16,671
  18,384
  20,176
  22,046
  23,996
  26,026
  28,137
  30,332
  32,614
Tax expense, $m
  38
  60
  92
  135
  191
  263
  352
  462
  593
  747
  926
  1,129
  1,357
  1,610
  1,888
  2,191
  2,519
  2,870
  3,244
  3,641
  4,060
  4,501
  4,964
  5,447
  5,952
  6,479
  7,027
  7,597
  8,190
  8,806
Net income, $m
  102
  163
  249
  365
  516
  711
  953
  1,249
  1,603
  2,020
  2,505
  3,053
  3,669
  4,353
  5,105
  5,924
  6,809
  7,759
  8,771
  9,844
  10,978
  12,170
  13,420
  14,728
  16,094
  17,517
  18,999
  20,540
  22,143
  23,808

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  425
  652
  969
  1,398
  1,961
  2,683
  3,584
  4,685
  6,004
  7,556
  9,351
  11,398
  13,699
  16,258
  19,071
  22,137
  25,451
  29,007
  32,800
  36,824
  41,074
  45,545
  50,236
  55,143
  60,266
  65,607
  71,168
  76,953
  82,967
  89,218
Adjusted assets (=assets-cash), $m
  425
  652
  969
  1,398
  1,961
  2,683
  3,584
  4,685
  6,004
  7,556
  9,351
  11,398
  13,699
  16,258
  19,071
  22,137
  25,451
  29,007
  32,800
  36,824
  41,074
  45,545
  50,236
  55,143
  60,266
  65,607
  71,168
  76,953
  82,967
  89,218
Revenue / Adjusted assets
  0.965
  0.963
  0.963
  0.963
  0.963
  0.963
  0.963
  0.963
  0.963
  0.963
  0.963
  0.963
  0.963
  0.963
  0.963
  0.963
  0.963
  0.963
  0.963
  0.963
  0.963
  0.963
  0.963
  0.963
  0.963
  0.963
  0.963
  0.963
  0.963
  0.963
Average production assets, $m
  50
  77
  115
  166
  232
  318
  424
  555
  711
  895
  1,108
  1,350
  1,623
  1,926
  2,259
  2,622
  3,015
  3,436
  3,885
  4,362
  4,865
  5,395
  5,950
  6,532
  7,138
  7,771
  8,430
  9,115
  9,827
  10,568
Working capital, $m
  -81
  -125
  -186
  -268
  -376
  -514
  -687
  -898
  -1,151
  -1,448
  -1,792
  -2,184
  -2,625
  -3,116
  -3,655
  -4,242
  -4,877
  -5,559
  -6,286
  -7,057
  -7,871
  -8,728
  -9,627
  -10,567
  -11,549
  -12,573
  -13,638
  -14,747
  -15,900
  -17,098
Total debt, $m
  72
  175
  319
  514
  770
  1,099
  1,509
  2,010
  2,610
  3,316
  4,133
  5,064
  6,111
  7,275
  8,556
  9,951
  11,458
  13,076
  14,802
  16,633
  18,567
  20,601
  22,735
  24,968
  27,299
  29,729
  32,260
  34,892
  37,628
  40,472
Total liabilities, $m
  193
  297
  441
  636
  892
  1,221
  1,631
  2,132
  2,732
  3,438
  4,255
  5,186
  6,233
  7,397
  8,677
  10,073
  11,580
  13,198
  14,924
  16,755
  18,689
  20,723
  22,857
  25,090
  27,421
  29,851
  32,382
  35,014
  37,750
  40,594
Total equity, $m
  232
  356
  528
  762
  1,069
  1,462
  1,953
  2,553
  3,272
  4,118
  5,096
  6,212
  7,466
  8,860
  10,394
  12,065
  13,871
  15,809
  17,876
  20,069
  22,385
  24,822
  27,378
  30,053
  32,845
  35,756
  38,787
  41,939
  45,217
  48,624
Total liabilities and equity, $m
  425
  653
  969
  1,398
  1,961
  2,683
  3,584
  4,685
  6,004
  7,556
  9,351
  11,398
  13,699
  16,257
  19,071
  22,138
  25,451
  29,007
  32,800
  36,824
  41,074
  45,545
  50,235
  55,143
  60,266
  65,607
  71,169
  76,953
  82,967
  89,218
Debt-to-equity ratio
  0.310
  0.490
  0.600
  0.670
  0.720
  0.750
  0.770
  0.790
  0.800
  0.810
  0.810
  0.820
  0.820
  0.820
  0.820
  0.820
  0.830
  0.830
  0.830
  0.830
  0.830
  0.830
  0.830
  0.830
  0.830
  0.830
  0.830
  0.830
  0.830
  0.830
Adjusted equity ratio
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545
  0.545

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  102
  163
  249
  365
  516
  711
  953
  1,249
  1,603
  2,020
  2,505
  3,053
  3,669
  4,353
  5,105
  5,924
  6,809
  7,759
  8,771
  9,844
  10,978
  12,170
  13,420
  14,728
  16,094
  17,517
  18,999
  20,540
  22,143
  23,808
Depreciation, amort., depletion, $m
  9
  12
  15
  19
  25
  32
  41
  53
  66
  82
  95
  115
  139
  165
  193
  224
  258
  294
  332
  373
  416
  461
  509
  558
  610
  664
  720
  779
  840
  903
Funds from operations, $m
  111
  175
  264
  384
  541
  743
  994
  1,302
  1,669
  2,101
  2,599
  3,168
  3,807
  4,518
  5,298
  6,149
  7,067
  8,052
  9,103
  10,217
  11,393
  12,631
  13,929
  15,286
  16,704
  18,181
  19,719
  21,319
  22,983
  24,711
Change in working capital, $m
  -30
  -44
  -61
  -82
  -108
  -138
  -173
  -211
  -253
  -297
  -344
  -392
  -441
  -490
  -539
  -588
  -635
  -681
  -727
  -771
  -814
  -857
  -899
  -940
  -982
  -1,024
  -1,066
  -1,109
  -1,153
  -1,198
Cash from operations, $m
  142
  219
  325
  466
  649
  881
  1,167
  1,513
  1,922
  2,399
  2,943
  3,560
  4,249
  5,008
  5,838
  6,736
  7,702
  8,734
  9,830
  10,988
  12,208
  13,488
  14,828
  16,227
  17,686
  19,205
  20,785
  22,428
  24,135
  25,909
Maintenance CAPEX, $m
  -3
  -4
  -7
  -10
  -14
  -20
  -27
  -36
  -47
  -61
  -76
  -95
  -115
  -139
  -165
  -193
  -224
  -258
  -294
  -332
  -373
  -416
  -461
  -509
  -558
  -610
  -664
  -720
  -779
  -840
New CAPEX, $m
  -19
  -27
  -38
  -51
  -67
  -85
  -107
  -130
  -156
  -184
  -213
  -242
  -273
  -303
  -333
  -363
  -393
  -421
  -449
  -477
  -503
  -530
  -556
  -581
  -607
  -633
  -659
  -685
  -712
  -740
Cash from investing activities, $m
  -22
  -31
  -45
  -61
  -81
  -105
  -134
  -166
  -203
  -245
  -289
  -337
  -388
  -442
  -498
  -556
  -617
  -679
  -743
  -809
  -876
  -946
  -1,017
  -1,090
  -1,165
  -1,243
  -1,323
  -1,405
  -1,491
  -1,580
Free cash flow, $m
  120
  187
  280
  405
  568
  776
  1,033
  1,346
  1,718
  2,154
  2,654
  3,223
  3,860
  4,566
  5,340
  6,180
  7,086
  8,055
  9,087
  10,179
  11,332
  12,542
  13,811
  15,137
  16,521
  17,962
  19,462
  21,022
  22,644
  24,329
Issuance/(repayment) of debt, $m
  72
  103
  144
  195
  256
  328
  410
  501
  600
  706
  817
  931
  1,047
  1,164
  1,280
  1,395
  1,508
  1,618
  1,726
  1,831
  1,934
  2,035
  2,134
  2,233
  2,331
  2,430
  2,530
  2,632
  2,737
  2,844
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  72
  103
  144
  195
  256
  328
  410
  501
  600
  706
  817
  931
  1,047
  1,164
  1,280
  1,395
  1,508
  1,618
  1,726
  1,831
  1,934
  2,035
  2,134
  2,233
  2,331
  2,430
  2,530
  2,632
  2,737
  2,844
Total cash flow (excl. dividends), $m
  192
  291
  425
  600
  825
  1,104
  1,443
  1,847
  2,319
  2,860
  3,471
  4,154
  4,908
  5,730
  6,620
  7,575
  8,593
  9,673
  10,813
  12,010
  13,265
  14,577
  15,945
  17,370
  18,852
  20,392
  21,992
  23,654
  25,380
  27,173
Retained Cash Flow (-), $m
  -86
  -124
  -173
  -234
  -307
  -393
  -491
  -600
  -719
  -846
  -978
  -1,115
  -1,254
  -1,394
  -1,534
  -1,671
  -1,806
  -1,938
  -2,067
  -2,193
  -2,316
  -2,437
  -2,556
  -2,674
  -2,792
  -2,911
  -3,031
  -3,153
  -3,278
  -3,407
Prev. year cash balance distribution, $m
  129
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  235
  167
  252
  367
  518
  711
  952
  1,247
  1,600
  2,014
  2,493
  3,039
  3,653
  4,336
  5,086
  5,904
  6,787
  7,735
  8,745
  9,817
  10,949
  12,140
  13,389
  14,695
  16,059
  17,481
  18,962
  20,501
  22,102
  23,766
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  225
  153
  219
  302
  401
  516
  643
  779
  919
  1,056
  1,184
  1,297
  1,389
  1,456
  1,493
  1,500
  1,477
  1,424
  1,347
  1,247
  1,133
  1,007
  878
  748
  625
  510
  407
  317
  241
  179
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Jupai Holdings Limited (Jupai), formerly Jupai Investment Group, is a Cayman Islands-based third-party wealth management service provider. The Company focuses on distributing wealth management products and providing advisory services to individuals in People's Republic of China (PRC) who have investable assets in excess of three million Renminbi (RMB). It also sources products from third parties. Its product choices include fixed income products, private equity and venture capital funds, public market products and other products, such as insurance products and tailored alternative investments. It also provides asset management services in the management and advisory of real estate or related funds, other fund products and funds of funds. Its client base consists of entrepreneurs, corporate executives, professionals and other investors. It has a network of client centers in approximately 18 cities in the regions of the Bohai Rim, the Yangtze River Delta and the Pearl River Delta.

FINANCIAL RATIOS  of  Jupai Holdings ADR (JP)

Valuation Ratios
P/E Ratio 53.8
Price to Sales 9.8
Price to Book 7.4
Price to Tangible Book
Price to Cash Flow 59.7
Price to Free Cash Flow 84.9
Growth Rates
Sales Growth Rate 88.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 300%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 11.2%
Ret/ On Assets - 3 Yr. Avg. 18.5%
Return On Total Capital 16%
Ret/ On T. Cap. - 3 Yr. Avg. 26.8%
Return On Equity 16%
Return On Equity - 3 Yr. Avg. 26.8%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 57.3%
Gross Margin - 3 Yr. Avg. 63.4%
EBITDA Margin 29.9%
EBITDA Margin - 3 Yr. Avg. 40.5%
Operating Margin 26.2%
Oper. Margin - 3 Yr. Avg. 35.2%
Pre-Tax Margin 27.4%
Pre-Tax Margin - 3 Yr. Avg. 38.9%
Net Profit Margin 18.3%
Net Profit Margin - 3 Yr. Avg. 27.1%
Effective Tax Rate 26.7%
Eff/ Tax Rate - 3 Yr. Avg. 26.8%
Payout Ratio 0%

JP stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the JP stock intrinsic value calculation we used $257.884162938 million for the last fiscal year's total revenue generated by Jupai Holdings ADR. The default revenue input number comes from 0001 income statement of Jupai Holdings ADR. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our JP stock valuation model: a) initial revenue growth rate of 58.8% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for JP is calculated based on our internal credit rating of Jupai Holdings ADR, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Jupai Holdings ADR.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of JP stock the variable cost ratio is equal to 61.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $20 million in the base year in the intrinsic value calculation for JP stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Jupai Holdings ADR.

Corporate tax rate of 27% is the nominal tax rate for Jupai Holdings ADR. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the JP stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for JP are equal to 12.3%.

Life of production assets of 11.7 years is the average useful life of capital assets used in Jupai Holdings ADR operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for JP is equal to -19.9%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $274.992707981 million for Jupai Holdings ADR - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 15.108 million for Jupai Holdings ADR is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Jupai Holdings ADR at the current share price and the inputted number of shares is $0.1 billion.

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COMPANY NEWS

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▶ Jupai Reports Second Quarter 2018 Results   [06:00AM  PR Newswire]
▶ Jupai Reports First Quarter 2018 Results   [May-28-18 05:00AM  PR Newswire]
▶ Top 3 Cheap Stocks For The Month   [Apr-17-18 10:02AM  Simply Wall St.]
▶ Jupai - Robust Fiscal 2017 Earnings Growth   [Mar-12-18 10:35AM  ACCESSWIRE]
▶ Value-Adding Discounted Stocks To Buy Now   [Mar-08-18 09:02AM  Simply Wall St.]
▶ Jupai Announces Private Share Purchase by CEO   [Dec-22-17 05:00AM  PR Newswire]
▶ Jupai - Robust 9M17 Earnings Growth   [Dec-06-17 11:20PM  ACCESSWIRE]
▶ Stock Market News For Nov 29, 2017   [Nov-29-17 10:22AM  Zacks]
▶ Jupai Reports Third Quarter 2017 Results   [Nov-13-17 04:00AM  PR Newswire]
▶ Jupai - A Value Play in a High Growing Industry   [Nov-09-17 08:00PM  ACCESSWIRE]
▶ A Tale of Two Markets   [Nov-08-17 04:30PM  TheStreet.com]
▶ Seeing Red and Considering Hedges   [11:06AM  TheStreet.com]
▶ China-Based Wealth Manager In Sweet Spot Of Growth   [Oct-13-17 01:11PM  Investor's Business Daily]
▶ 3 Ways To Play China's Rate Decision   [Oct-09-17 01:35PM  Benzinga]
▶ U.S. Stocks Quiet; China Issues Pop As Holidays End   [11:56AM  Investor's Business Daily]
▶ Jupai Holdings Q2 2017 Note   [Oct-02-17 11:42AM  ACCESSWIRE]
▶ Blackrock Sees Relative Strength Rating Climb To 75   [03:00AM  Investor's Business Daily]
▶ Blackrock Getting Closer To New Breakout And Key Technical Measure   [Sep-26-17 11:19AM  Investor's Business Daily]
▶ Stocks With Rising Relative Price Strength: Brookfield Infrastructure   [Sep-19-17 03:00AM  Investor's Business Daily]
▶ KKR Getting Closer To Key Technical Measure   [Sep-18-17 03:00AM  Investor's Business Daily]
▶ Stocks With Rising Relative Price Strength: The Carlyle Group   [03:00AM  Investor's Business Daily]
▶ Stocks Showing Improved Relative Strength: Affiliated Managers   [03:00AM  Investor's Business Daily]
▶ IBD Rating Upgrades: KKR Flashes Improved Relative Price Strength   [Aug-29-17 03:00AM  Investor's Business Daily]
▶ Blackstone Earns Relative Strength Rating Upgrade   [03:00AM  Investor's Business Daily]
▶ Jupai Reports Second Quarter 2017 Results   [Aug-16-17 04:10AM  PR Newswire]
▶ Jupai Reports Third Quarter 2016 Results   [03:30AM  PR Newswire]
▶ Jupai Reports Second Quarter 2016 Results   [12:30AM  PR Newswire]
▶ Jupai Reports First Quarter 2016 Results   [04:00AM  PR Newswire]
▶ Asian markets take ECB stimulus moves in stride   [Mar-10-16 11:18PM  at MarketWatch]
▶ Asian markets rise on renewed faith in U.S. economy   [Dec-17  01:42AM  at MarketWatch]

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