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Noah Holdings Limited (NYSE: NOAH and HKEX: 6686) is a leading wealth management service provider based in China. Established in 2003, Noah Holdings offers comprehensive global investment and asset allocation advisory services primarily for high-net-worth individuals. The company focuses on three primary business segments: wealth management, asset management, and other comprehensive financial services.
Through its wealth management business, Noah distributes private equity, private secondary, mutual fund, and other financial products denominated in various currencies. The company serves a diverse clientele through its well-established network of relationship managers spread across major Chinese cities and international offices in Hong Kong, Taiwan, New York, Silicon Valley, and Singapore. As of March 31, 2024, Noah had 457,705 registered clients and managed assets totaling RMB153.3 billion (US$21.2 billion).
Noah's asset management operations are conducted through Gopher Asset Management Co., Ltd., a prominent multi-asset manager in China. Gopher develops and manages a wide array of assets, including private equity, real estate, public securities, and multi-strategy investments, catering to the global investment needs of its clients.
The company has demonstrated consistent growth and resilience despite challenging market conditions. In the first quarter of 2024, Noah distributed RMB18.9 billion (US$2.6 billion) of investment products. Although net revenues for Q1 2024 decreased by 19.2% year-over-year, the company strategically accelerated its overseas expansion to meet the growing demand for global asset allocation. This effort resulted in a 22.4% year-over-year increase in net revenues from its overseas business, excluding performance-based income.
Noah is committed to maintaining strong corporate governance, evidenced by the recent separation of its CEO and Chairperson roles to enhance governance practices. The company’s financial health remains robust, with over RMB5.1 billion (US$710.4 million) in cash and cash equivalents as of March 31, 2024.
Noah Holdings' mission is to provide objective and independent financial solutions to high-net-worth clients in China, while its vision is to become a globally respected brand that fosters humanistic spirit and social responsibility. For more information, please visit Noah at http://ir.noahgroup.com.
Noah Holdings hosted its 2024 Corporate Open Day in Hong Kong, showcasing its strategic initiatives and global expansion. The company introduced three major global brands: ARK Private Wealth, Olive Asset Management, and Glory Family Heritage. Noah's overseas net income reached RMB 376.9 million in Q3 2024, a 28.9% year-on-year increase, representing 55.1% of total revenue.
The company has strengthened its presence in key markets including Hong Kong and Singapore, while expanding into the US, Europe, Japan, Canada, and Australia. Olive Asset Management reported overseas AUM of USD 5.63 billion, up 16.0% year-on-year, with overseas private equity and primary market funds reaching USD 4.27 billion, a 19.0% increase.
Noah Holdings hosted its 2024 Corporate Open Day in Hong Kong, showcasing strategic initiatives for global expansion and investment product leadership. The company highlighted its new brands: ARK Private Wealth, Olive Asset Management, and Glory Family Heritage for serving overseas Mandarin-speaking clients.
The company reported strong overseas performance with net revenues growing 28.9% year-over-year and 35.3% sequentially in Q3 2024. Noah is expanding its global presence with offices in Hong Kong, Singapore, Japan, and planned operations in the U.S., focusing on underserved Mandarin-speaking investors in emerging markets.
The event emphasized Noah's expanded product offerings in cash management, structured products, hedge funds, private credit, and infrastructure, alongside its traditional strengths in private equity and venture capital.
Noah Holdings reported strong Q3 2024 financial results with net revenues of RMB 683.7 million (US$ 97.4 million), up 11.0% sequentially. Overseas revenues reached RMB 376.9 million (US$ 53.7 million), representing 55.1% of total revenues and growing 28.9% year-over-year. Operating income was RMB 240.8 million (US$ 34.3 million), with operating margin improving to 35.2%. The company expanded its overseas relationship manager team by 89.6% year-over-year to 146 members. Noah also announced new international brands: Ark Wealth Management, Olive Asset Management, and Glory Family Heritage, while maintaining its US$50 million share repurchase program.
Noah Holdings reported Q3 2024 financial results with net revenues of RMB683.7 million (US$97.4 million), an 8.8% decrease year-over-year. The decline was primarily due to a 33.0% decrease in mainland China revenues, partially offset by a 28.9% increase in overseas revenues. Income from operations decreased 3.2% to RMB240.8 million, while net income attributable to shareholders fell 42.4% to RMB134.4 million. The company's overseas expansion showed momentum with an 89.6% increase in overseas relationship managers. Total assets under management were RMB150.1 billion, representing a 3.1% decrease from the previous year.
Noah Holdings (NYSE: NOAH, HKEX: 6686) announces its Corporate Open Day scheduled for December 6, 2024, from 2:00-6:00 p.m. HKT in Hong Kong. The event will feature executive management discussing wealth management strategies for Mandarin-speaking high-net-worth investors and global investment allocation.
Noah, a pioneer wealth management service provider, distributed RMB33.3 billion (US$4.6 billion) of investment products in H1 2024. Through Gopher Asset Management, the company manages RMB154.0 billion (US$21.2 billion) in assets. With 459,072 registered clients as of June 30, 2024, Noah's network spans major Chinese cities and international locations including Hong Kong, New York, and Singapore.
Noah Holdings (NYSE: NOAH, HKEX: 6686) will report its Q3 2024 unaudited financial results on November 26, 2024, after U.S. markets close. The company will hold an earnings conference call at 7:00 p.m. U.S. Eastern Time on the same day. Noah, a wealth management service provider for Mandarin-speaking high-net-worth investors, distributed RMB33.3 billion (US$4.6 billion) of investment products in H1 2024. As of June 30, 2024, the company managed assets totaling RMB154.0 billion (US$21.2 billion) through Gopher Asset Management and had 459,072 registered clients.
Noah Holdings (NYSE: NOAH, HKEX: 6686) has announced a $50 million share repurchase program, signaling confidence in its overseas growth strategy. The company reported total net revenue of RMB 616 million for Q2 2024, with wealth management generating RMB 416 million and asset management contributing RMB 192 million. Noah's overseas expansion is gaining traction, with overseas net revenue contribution increasing to 46.3% in H1 2024 and assets under management growing 14.1% year-over-year. The company raised US$ 338 million for overseas funds, a 40.2% YoY increase. Income from operations rose 10.3% sequentially to RMB 134 million, with an improved operating margin of 21.8%. Noah's overseas registered clients increased by 23.0% YoY to 16,786, reflecting growing demand for global asset allocation.
Noah Holdings (NYSE: NOAH, HKEX: 6686) reported strong Q2 2024 results, with total net revenues of RMB 616 million (US$ 85 million). The company's overseas business contributed significantly, generating RMB 279 million (US$ 38 million). Noah's operating profit reached RMB 134 million (US$ 18 million), with an improved operating profit margin of 21.8%.
Key highlights include:
- Overseas registered clients increased by 23.0% year-over-year
- US$ 152 million raised for US private equity products, up 46.2% year-over-year
- Overseas revenue contribution increased to 46.3% in H1 2024
- Assets under management grew 14.1% year-over-year
- Overseas relationship manager team expanded by 101.8% year-over-year
The company also announced a US$ 50 million share repurchase program, signaling confidence in its future growth and commitment to shareholder value.
Noah Holdings (NYSE: NOAH, HKEX: 6686) announced its unaudited financial results for Q2 2024. Total net revenues were RMB 615.8 million (US$84.7 million), marking a 34.6% decrease year-on-year mainly due to reduced distribution of insurance products. Net income attributable to shareholders fell 68.4% to RMB 99.8 million (US$13.7 million).
Key Points:
- Q2 revenue from mainland China: RMB 337.2 million (down 38.5%)
- Q2 revenue from overseas: RMB 278.6 million (down 29.2%)
- Wealth management revenue: RMB 415.6 million (down 44.2%)
- Asset management revenue: RMB 192.3 million (up 4.9%)
- Total AUM: RMB 154.0 billion
- Share repurchase program: US$50 million
Operational costs decreased 18.7% to RMB 481.8 million. Income from operations dropped 61.6% to RMB 134.0 million but grew 10.3% sequentially. Noah's overseas expansion showed momentum with a 14.3% increase in AUM year-on-year, although domestic market conditions remain challenging.
Noah Holdings (NYSE: NOAH, HKEX: 6686) has announced a US$50 million share repurchase program, effective immediately with a two-year term. This program is separate from the company's Corporate Actions Budget policy adopted in November 2023. The repurchases will be executed through various means, including open market transactions and block trades, funded by existing cash and operational cash flow.
Additionally, Noah recently completed a record RMB1,018 million (US$140.1 million) dividend payout for full year 2023, representing 100% of its annual non-GAAP net income. The company's chairwoman, Jingbo Wang, expressed confidence in Noah's unique position in serving Mandarin-speaking high-net-worth individuals globally, despite challenges in China's wealth management industry.
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