Jupai to Issue New Shares to Julius Baer, SINA Priced @$1.83/Share

Jupai Holdings Limited, today announced that it has entered into a share purchase agreement with each of Julius Baer Investment Ltd. ("Julius Baer"), a wholly owned subsidiary of Julius Baer Group Limited

, a leading Swiss private banking group, and SINA Hong Kong Limited ("SINA"), a wholly owned subsidiary of SINA Corporation

, a leading Chinese online media company. As part of the agreement with Julius Baer, Jupai will issue to Julius Baer 9,591,000 ordinary shares (equivalent to 1,598,500 ADSs), which represents approximately 4.99% of the Company's total outstanding share capital immediately upon the completion of the transaction, at $1.83 per share (equivalent to $11 per ADS). Under the agreement with SINA, the Company will issue to SINA, at the same price, 2,880,000 ordinary shares (equivalent to 480,000 ADSs) representing approximately 1.5% of the Company's total outstanding share capital immediately after the completion of the transaction. SINA's beneficial ownership in Jupai will be 11.35% immediately upon completion of the transaction. The aggregate transaction value of this private placement is approximately $22.9 million. The private placement to Julius Baer