NOAH HOLDINGS TO PURSUE PRIMARY LISTING ON THE STOCK EXCHANGE OF HONG KONG LIMITED AND BECOME DUAL-PRIMARY LISTED IN NEW YORK AND HONG KONG

Rhea-AI Summary

Noah Holdings has announced its board's approval to pursue a voluntary dual-primary listing on the Hong Kong Stock Exchange. This Primary Conversion will allow the company to maintain trading of its ordinary shares in Hong Kong and American Depositary Shares in New York. The move is subject to regulatory compliance with Hong Kong's Listing Rules and obtaining necessary approvals. Noah Holdings, a prominent wealth management service provider in China, distributed RMB15.0 billion in investment products in Q1 2022 and managed assets worth RMB156.1 billion.

Positive

• Board approval for dual-primary listing on Hong Kong Stock Exchange.
• Continued trading of shares in both Hong Kong and New York enhances market presence.
• Strong asset management, with RMB156.1 billion under management as of March 31, 2022.

Negative

• None.

SHANGHAI, Aug. 10, 2022 /PRNewswire/ -- Noah Holdings Private Wealth and Asset Management Limited (the "Company" or "Noah Holdings") announces that the board of directors of the Company (the "Board") has approved a motion to pursue the voluntary conversion to dual-primary listing (the "Primary Conversion") on the Main Board of The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange") pursuant to the Hong Kong Stock Exchange's guidance letter HKEX-GL112-22. The Board also authorized the Company's senior management to proceed with the relevant preparatory work and undertake the necessary procedures to complete the Primary Conversion. After completion of the Primary Conversion, the Company's ordinary shares and American Depositary Shares will continue to be traded on the Hong Kong Stock Exchange and the New York Stock Exchange, respectively, and remain mutually fungible, as disclosed in the section headed "Information about this Document and the Global Offering" in the Company's prospectus dated June 30, 2022.

The Primary Conversion is conditional upon and subject to, among others, the Company's compliance with the Rules Governing the Listing of Securities of The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Company's obtaining of the necessary approvals from the Hong Kong Stock Exchange. The Company will make further announcement(s) to disclose any material updates and progress with respect to the Primary Conversion to the extent required by the Listing Rules and other applicable laws and regulations as and when appropriate.

This announcement is for informational purposes only and does not constitute, or form part of, any invitation or offer to acquire, purchase or subscribe for any securities of the Company. Shareholders and potential investors should exercise caution when dealing in the securities of the Company.

By Order of the Board
Noah Holdings Private Wealth and Asset Management Limited
Jingbo Wang
Chairwoman of the Board

Hong Kong, August [10], 2022

As at the date of this announcement, the Board comprises Ms. Jingbo Wang, the chairwoman of the Board, Mr. Zhe Yin and Ms. Chia-Yue Chang as executive directors; Mr. Neil Nanpeng Shen and Mr. Boquan He as non-executive directors; and Dr. Zhiwu Chen, Mr. Tze-Kaing Yang, Mr. Jinbo Yao and Ms. May Yihong Wu as independent directors.

ABOUT NOAH HOLDINGS LIMITED

Noah Holdings Limited (NYSE: NOAH and HKEX: 6686) is a leading and pioneer wealth management service provider in China offering comprehensive one-stop advisory services on global investment and asset allocation primarily for high net worth investors. Noah is a Cayman Islands holding company and carries on business in Hong Kong as Noah Holdings Private Wealth and Asset Management Limited. In the first quarter of 2022, Noah distributed RMB15.0 billion (US$2.4 billion) of investment products. Through Gopher Asset Management, Noah had assets under management of RMB156.1 billion (US$24.6 billion) as of March 31, 2022.

Noah's wealth management business primarily distributes private equity, public securities and insurance products denominated in RMB and other currencies. Noah delivers customized financial solutions to clients through a network of 1,281 relationship managers across 83 cities in mainland China, and serves the international investment needs of its clients through offices in Hong Kong, Taiwan, New York, Silicon Valley and Singapore. The Company's wealth management business had 415,082 registered clients as of March 31, 2022. Through Gopher Asset Management, Noah manages private equity, public securities, real estate, multi-strategy and other investments denominated in Renminbi and other currencies. Noah also provides other businesses.

For more information, please visit Noah at ir.noahgroup.com.

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SOURCE Noah Holdings Limited

FAQ

What is the recent announcement by Noah Holdings regarding its stock listing?

Noah Holdings announced its intention to pursue a dual-primary listing on the Hong Kong Stock Exchange.

When did Noah Holdings announce its dual-primary listing plan?

The announcement was made on August 10, 2022.

What regulatory approvals are needed for Noah Holdings' listing on the Hong Kong Stock Exchange?

Noah Holdings needs to comply with the Listing Rules and obtain necessary approvals from the Hong Kong Stock Exchange.

How much investment product did Noah Holdings distribute in Q1 2022?

Noah Holdings distributed RMB15.0 billion (approximately US$2.4 billion) of investment products in Q1 2022.

What is the current asset management figure for Noah Holdings?

As of March 31, 2022, Noah managed assets worth RMB156.1 billion (approximately US$24.6 billion).