Noah to Report Second Quarter and Half Year 2024 Unaudited Financial Results on August 28, 2024

Rhea-AI Summary

Noah Holdings (NYSE: NOAH and HKEX: 6686), a leading wealth management service provider for high-net-worth Mandarin-speaking investors, has announced it will report its unaudited financial results for Q2 and H1 2024 on August 28, 2024. The company will hold an earnings conference call at 8:00 p.m. U.S. Eastern Time on the same day. In Q1 2024, Noah distributed RMB18.9 billion (US$2.6 billion) of investment products and had assets under management of RMB153.3 billion (US$21.2 billion) as of March 31, 2024. Noah's network spans major cities in mainland China, Hong Kong, and international locations, with 1,109 relationship managers serving over 450,000 registered clients.

Positive

• Distributed RMB18.9 billion (US$2.6 billion) of investment products in Q1 2024
• Assets under management reached RMB153.3 billion (US$21.2 billion) as of March 31, 2024
• Extensive network covering major cities in China and international locations
• Large client base with over 450,000 registered clients

Negative

• None.

SHANGHAI, Aug. 16, 2024 /PRNewswire/ -- Noah Holdings Limited (the "Company" or "Noah") (NYSE: NOAH and HKEX: 6686), a leading and pioneer wealth management service provider offering comprehensive advisory services on global investment and asset allocation primarily for Mandarin speaking high-net-worth investors, today announced that it will report its unaudited financial results for the second quarter and half year ended June 30, 2024, after U.S. markets close on August 28, 2024.

Noah's management team will hold an earnings conference call at 8:00 p.m. U.S. Eastern Time on Wednesday, August 28, 2024 (8:00 a.m. Beijing/Hong Kong Time on Thursday, August 29, 2024). 

The conference call may be accessed with the following details:

Dial-in details:

Conference title:	Noah Second Quarter and Half Year 2024 Earnings Conference Call
Date/Time:	Wednesday, August 28, 2024, at 8:00 p.m., U.S. Eastern Time Thursday, August 29, 2024, at 8:00 a.m., Hong Kong Time
Dial in:
– Hong Kong Toll Free:	800-963976
– United States Toll Free:	1-888-317-6003
– Mainland China Toll Free:	4001-206115
– International Toll:	1-412-317-6061
Participant Password:	3101709

A telephone replay will be available starting approximately one hour after the end of the conference until September 4, 2024 at 1-877-344-7529 (US Toll Free) and 1-412-317-0088 (International Toll) with the access code 3826921.

A live and archived webcast of the conference call will be available on the Company's investor relations website under the "News & Events" section at http://ir.noahgroup.com.

ABOUT NOAH HOLDINGS LIMITED

Noah Holdings Limited (NYSE: NOAH and HKEX: 6686) is a leading and pioneer wealth management service provider offering comprehensive one-stop advisory services on global investment and asset allocation primarily for Mandarin-speaking high-net-worth investors. In 2024 Q1, Noah distributed RMB18.9 billion (US$2.6 billion) of investment products. Through Gopher Asset Management, Noah had assets under management of RMB153.3 billion (US$21.2 billion) as of March 31, 2024.

Noah's wealth management business primarily consists of the distribution of RMB, USD and other currency-denominated private equity, private secondary, mutual funds, as well as providing comprehensive services. Noah's network covers major cities in mainland China, as well as Hong Kong (China), New York, Silicon Valley, Singapore, and Los Angeles. A total number of 1,109 relationship managers provide customized wealth management solutions for clients through this network and meet their investment needs. The Company's wealth management business had more than 450,000 registered clients as of March 31, 2024. Through Gopher Asset Management, Noah manages private equity, public securities, real estate, multi-strategy, and other investments denominated in RMB, USD and other currencies.

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

SAFE HARBOR STATEMENT

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Noah may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in announcements, circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange"), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Noah's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. These statements include, but are not limited to, estimates regarding the sufficiency of Noah's cash and cash equivalents and liquidity risk. A number of factors could cause Noah's actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: its goals and strategies; its future business development, financial condition and results of operations; the expected growth of the wealth management and asset management market in China and internationally; its expectations regarding demand for and market acceptance of the products it distributes; investment risks associated with investment products distributed to Noah's investors, including the risk of default by counterparties or loss of value due to market or business conditions or misconduct by counterparties; its expectations regarding keeping and strengthening its relationships with key clients; relevant government policies and regulations relating to its industries; its ability to attract and retain qualified employees; its ability to stay abreast of market trends and technological advances; its plans to invest in research and development to enhance its product choices and service offerings; competition in its industries in China and internationally; general economic and business conditions globally and in China; and its ability to effectively protect its intellectual property rights and not to infringe on the intellectual property rights of others. Further information regarding these and other risks is included in Noah's filings with the U.S. Securities and Exchange Commission and the Hong Kong Stock Exchange. All information provided in this press release and in the attachments is as of the date of this press release, and Noah does not undertake any obligation to update any such information, including forward-looking statements, as a result of new information, future events or otherwise, except as required under the applicable law.

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SOURCE Noah Holdings Limited

FAQ

When will Noah Holdings (NOAH) report its Q2 and H1 2024 financial results?

Noah Holdings (NOAH) will report its unaudited financial results for Q2 and H1 2024 on August 28, 2024, after U.S. markets close.

What was Noah Holdings' (NOAH) asset distribution in Q1 2024?

In Q1 2024, Noah Holdings (NOAH) distributed RMB18.9 billion (US$2.6 billion) of investment products.

How much assets under management did Noah Holdings (NOAH) have as of March 31, 2024?

As of March 31, 2024, Noah Holdings (NOAH) had assets under management of RMB153.3 billion (US$21.2 billion) through Gopher Asset Management.

How many registered clients does Noah Holdings (NOAH) have?

As of March 31, 2024, Noah Holdings (NOAH) had more than 450,000 registered clients for its wealth management business.