Maase Business Summary

Maase Inc. (MAAS), formerly known as Highest Performances Holdings and Puyi Inc., is a diversified technology and financial services group that generates revenue through a hybrid model of asset management fees, insurance commissions, and technology licensing. The company operates across three primary business segments: Wealth Management, which distributes publicly and privately raised fund products; Insurance Agency, providing life and non-life brokerage services; and its rapidly expanding Technological Intelligence division, which focuses on artificial intelligence (AI) ecosystems, green energy solutions, and smart industrial services. Following a strategic pivot in late 2025, the company has integrated full-stack AI computing power and energy storage technologies into its portfolio to serve both family and enterprise clients. Maase competes directly with firms such as Accelerant Holdings, Baldwin Insurance Group, and TWFG in the financial sector, while increasingly positioning itself against tech-driven conglomerates as it transitions from a regional wealth manager into a global provider of intelligent industrial and wellness solutions. Originally established in 2010, Maase is currently led by a restructured executive team following its 2025 merger activities. The leadership includes Chief Executive Officer and Vice Chairperson Min Zhou, who brings extensive experience in independent wealth management, and Co-CEO Guotao Liu, a specialist in automotive services and smart technology with over 15 years of corporate management pedigree. The financial operations are overseen by Chief Financial Officer Shi Jiaxing, who assumed the role in December 2025. Strategic direction is provided by Chairman of the Board Jingkai Li, an expert in the "green economy" and resource recycling sectors who previously led Guangxi Qinyuan Environmental Protection. The company's board and investor base were significantly bolstered by the 2025 acquisition of Oriental Grove Ltd and a reverse merger with Carve Group Ltd, reflecting a shift toward high-tech industrial investment and sustainable energy sectors.