Noah Holdings 2024 Corporate Open Day: Driving Global Expansion and Sophisticated Solutions for Mandarin-Speaking Clients

Rhea-AI Summary

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.

Positive

• Overseas net income increased 28.9% YoY to RMB 376.9 million in Q3 2024
• Overseas revenue represents 55.1% of total revenue
• Overseas AUM grew 16.0% YoY to USD 5.63 billion
• Private equity and primary market funds AUM increased 19.0% YoY to USD 4.27 billion
• Successfully expanded presence in key markets with new licenses in Singapore

Negative

• None.

Insights

Market Research Analyst

This corporate event highlights Noah Holdings' significant international expansion and strategic positioning in the wealth management sector. The company's Q3 2024 results show impressive growth with overseas net income reaching RMB 376.9 million (USD 53.7 million), representing a 28.9% year-over-year increase and accounting for 55.1% of total revenue. The overseas AUM growth of 16% to USD 5.63 billion demonstrates strong market penetration.

The company's strategic focus on Mandarin-speaking clients globally through three distinct brands - ARK Private Wealth, Olive Asset Management and Glory Family Heritage - positions it uniquely in the market. The expansion into key financial hubs like Hong Kong and Singapore, coupled with new market entries in the US, Europe and Japan, indicates a well-planned global growth strategy. The digital insurance platform innovation in Hong Kong shows technological leadership in the sector.

Financial Analyst

Noah's diversification strategy and focus on alternative assets is particularly noteworthy in the current market environment. The overseas private equity and primary market funds AUM reached USD 4.27 billion, showing a robust 19% year-over-year growth. The increase in overseas AUM contribution from 22.8% to 26.3% of total AUM indicates successful market penetration and growing client trust.

The company's comprehensive service offering, including tax planning, trust services and digital solutions, creates multiple revenue streams while addressing sophisticated client needs. The focus on alternative investments and niche categories like cash management demonstrates adaptability to market conditions. The expansion of licensing and operations across multiple jurisdictions positions Noah for sustained growth in the global wealth management market.

SHANGHAI, Dec. 10, 2024 /PRNewswire/ -- Noah Holdings recently hosted its 2024 Corporate Open Day in Hong Kong. Across three key panel discussions, Noah's executive management team outlined the company's strategic initiatives including global expansion, innovation, and its competitive global investment product offerings. Presentations also provided insights into the into the evolving wealth management needs of global Mandarin-speaking individuals and corporate clients. Wrapping up a remarkable year for Noah Holdings, here is a snapshot of the major themes highlighted at the event.

Noah's Global Expansion and Innovative Services: Creating New Horizons in Wealth Management

Noah has continuously innovated and optimized its services to meet the increasingly diversified wealth management needs of its clients. This has been no different this year during its ongoing international expansion. From brand new solutions to targeted offerings in key markets, Noah has been proactive in its efforts to meet the increasingly diversified wealth management needs of its clients across the globe.

The company has now introduced a fully upgraded international brand system, including three major global brands: ARK Private Wealth, Olive Asset Management, and Glory Family Heritage, providing outstanding global wealth management, asset allocation, and comprehensive service solutions for Mandarin-speaking clients worldwide.

Noah understands that Hong Kong and Singapore are key gateways to overseas Chinese financial markets, and the company is actively building its business in both locations. In Hong Kong, Noah's Glory Family Heritage's digital insurance platform has redefined efficiency and transparency and was the first to offer digital insurance applications and premium payments in the market. In Singapore, Noah has established its own subsidiary and recently obtained key licenses to provide services. Both locations serve as powerful business hubs with enormous potential.

Further, through on-the-ground visits to the United States and Europe, Noah has refined its target customer profile. In the U.S., the company has established a product center team and is progressing with license applications to upgrade its business positioning. In Europe, Noah is also expanding its licensing-related business to better serve the local Chinese community.

The influence of Mandarin-speaking communities in emerging markets is becoming increasingly evident, and Noah has already established a management team in Japan to better cater to clients in this market. Meanwhile, in Canada and Australia, Noah has adopted a light-license model to expand its business there. By leveraging its global product shelf to empower channels, Noah is accumulating experience to expand in global markets and tap into overseas Mandarin-speaking client resources.

This strategy has led to notable performance growth, with Noah Holdings' overseas net income reaching RMB 376.9 million (approximately USD 53.7 million) in Q3 2024, a year-on-year increase of 28.9%, accounting for over 55.1% of total revenue. The formation of this global service network not only reflects the company's deep understanding of the needs of Mandarin-speaking clients worldwide but also provides more convenient and comprehensive wealth management solutions.

Noah Enhances Overseas Presence to Navigate the Winds of Change and Meet the Needs of Mandarin-speaking Clients

2024 has been a year of transformation for the world, shaped by the convergence of political, economic, and technological cycles. It is a complex and volatile macro environment, with diverse economic growth trends, political instability, disrupted trade, and interest rate fluctuations. In response to these challenges, Noah has implemented a diversified asset allocation strategy, covering categories such as stocks, bonds, and alternative assets, while balancing emerging and developed regions geographically.

Within product lines, the alternative asset sector has shown significant advantages and strong historical performance throughout the year, with a focus on traditional private equity and venture capital, as well as new niche categories such as cash management. Going forward, Noah plans to further strengthen its product matrix with a focus on emerging industries, innovative fund products, collaborations with globally renowned institutions, iterations on product offerings, further leveraging the potential of existing clients, and the exploration of new customer markets overseas. As an institution with a strong Chinese-background, Noah stands out compared to overseas competitors due to its rich product offerings, personalized services, and ease of access, especially in the alternative assets sector. There is significant allocation potential for new overseas clients in this area, which will help them achieve wealth growth and inheritance in complex markets.

The growth in assets under management (AUM) further reinforces Noah Holdings' professional capability and market leadership in the global Mandarin-speaking wealth inheritance service sector. As of the end of Q3 2024, Olive Asset Management, a subsidiary of Noah Holdings, reported an overseas AUM of USD 5.63 billion, up 16.0% year-on-year. Its share of total AUM increased from 22.8% to 26.3%. The AUM of overseas private equity and other primary market funds reached USD 4.27 billion, up 19.0% year-on-year. These figures highlight Noah Holdings' strong growth momentum in asset management and underscore its leadership in the global Mandarin-speaking wealth inheritance service market. Through these strategic initiatives, Noah Holdings has provided comprehensive wealth management and inheritance solutions for Mandarin-speaking clients globally, helping them achieve asset growth and inheritance worldwide.

Noah's Customized Inheritance Services: Leading Wealth Management Trends

Noah Holdings offers comprehensive and customized inheritance services in response to global Mandarin-speaking clients' needs for wealth inheritance. Its brand, Glory, provides a one-stop solution for overseas family wealth inheritance solution, covering diverse financial services such as global insurance, identity planning, trusts, and children's education. Its service network spans key global regions, including mainland China, Hong Kong, Singapore, the United States, Japan, Dubai, Greece, and others, ensuring that Mandarin-speaking clients worldwide can enjoy consistent, high-quality services no matter where they are. Notably, Noah Holdings has set an industry precedent for digital insurance in Hong Kong, an innovation that not only enhances service efficiency but also increases client engagement and satisfaction in wealth inheritance planning.

Furthermore, Noah Holdings offers comprehensive consulting services in tax planning, including cross-border tax planning and transfer pricing arrangements, ensuring clients' global tax compliance, optimizing tax structures, and reducing potential legal risks. In the areas of insurance and trust services, the company has launched products covering investment, healthcare, and high-end customized insurance, and through services such as overseas family trusts and charitable trusts, it helps clients achieve effective wealth management and intergenerational inheritance. Additionally, Noah leverages technology to enhance the client service experience, improving the professional capabilities and service efficiency of brokers, thus providing clients with more efficient and personalized wealth management services.

Each service line has achieved significant results in 2024 and with further development planned in 2025. Continuous innovation will be focused on areas such as identity planning, tax planning, insurance, and trust services, along with the introduction of specialized products to enhance competitiveness. Noah Technology plays a key role in improving client experience, with its digital insurance platform being an industry leader. The potential for growth in brokerage and channel business is also promising. Leveraging the Noah Group's ecosystem, Glory gains deep insights into client needs and offers a one-stop service. Each professional line provides timely and effective advice and solutions based on policy changes, ensuring clients receive the best support.

This year's Corporate Open Day has showcased the exceptional wealth management services Noah Holdings offers to global Mandarin-speaking clients, leveraging its global presence, diversified asset management business, and customized inheritance services. Looking ahead, Noah is committed to upholding its principles of professionalism, innovation, and client focus, constantly optimizing its product and service matrix, enhancing customer experience, and leading the development trends in the wealth management industry.

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SOURCE Noah Holdings Limited

FAQ

What was Noah Holdings' (NOAH) overseas net income in Q3 2024?

Noah Holdings' overseas net income reached RMB 376.9 million (approximately USD 53.7 million) in Q3 2024, representing a 28.9% year-on-year increase.

What percentage of Noah Holdings' (NOAH) total revenue came from overseas operations in Q3 2024?

Overseas operations accounted for 55.1% of Noah Holdings' total revenue in Q3 2024.

What was Olive Asset Management's overseas AUM as of Q3 2024?

Olive Asset Management, a subsidiary of Noah Holdings, reported overseas Assets Under Management (AUM) of USD 5.63 billion, up 16.0% year-on-year.

What are the three major global brands introduced by Noah Holdings (NOAH) in 2024?

Noah Holdings introduced ARK Private Wealth, Olive Asset Management, and Glory Family Heritage as its three major global brands.