Welcome to our dedicated page for Noah Holdings American Depositary Shares (each representing five (5) Ordinary shares) news (Ticker: NOAH), a resource for investors and traders seeking the latest updates and insights on Noah Holdings American Depositary Shares (each representing five (5) Ordinary shares) stock.
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 Limited (NYSE: NOAH) announced its awareness of the Silicon Valley Bank (SVB) closure and the appointment of the Federal Deposit Insurance Corporation as receiver. Noah holds less than US$1 million in cash with SVB, representing under 0.2% of its total cash assets, thus viewing its exposure to liquidity concerns as immaterial. The company has also taken protective measures for its investment funds associated with SVB and will continue to fulfill its fiduciary duties to investors. As of September 30, 2022, Noah managed assets totaling approximately US$22 billion.
Noah Holdings Limited has announced the effective conversion of its secondary listing to a primary listing on the Hong Kong Stock Exchange, enhancing its dual-primary listing status alongside the NYSE. This move is expected to improve liquidity and broaden its investor base, particularly towards eligibility for the Mainland-Hong Kong Stock Connect program. In 2022, Noah's wealth management services distributed RMB52.3 billion (US$7.3 billion) in investment products, managing assets worth RMB156.2 billion (US$22.0 billion) as of September 30, 2022.
Noah Holdings Limited (NYSE: NOAH) announced that its annual general meeting (AGM) took place on December 16, 2022, in Singapore. During this meeting, shareholders approved all proposed resolutions, including a key decision to convert its primary listing to The Stock Exchange of Hong Kong Limited, effective December 23, 2022. The company is recognized as a leading wealth management service provider in China, managing assets worth RMB156.2 billion (US$22.0 billion) as of September 30, 2022. Noah aims to enhance its advisory services for high net worth investors.
Noah Holdings Limited (NYSE: NOAH) has announced its upcoming annual general meeting (AGM) scheduled for December 16, 2022, in Singapore. Shareholders are invited to approve proposals outlined in the AGM Circular available on the investor relations website. As of October 24, 2022, Class A ordinary share and ADS holders can participate and vote. Additionally, Noah has filed its annual report for the fiscal year ending December 31, 2021, with the SEC, detailing a distribution of RMB34.3 billion (US$5.4 billion) in investment products in H1 2022, with assets under management reaching RMB155.4 billion (US$23.2 billion).
Noah Holdings Private Wealth and Asset Management Limited will conduct a Board meeting on November 21, 2022, to approve its Q3 2022 unaudited financial results, set to be announced on November 22, 2022. This meeting will be held in Hong Kong and the Q3 results will be available on the Stock Exchange of Hong Kong. Following this, an earnings conference call will be held to discuss the results and recent business activities.
Noah Holdings Limited (NYSE: NOAH) provided an update on legal proceedings involving credit funds managed by Shanghai Gopher Asset Management. The Shanghai No.2 Intermediate People's Court convicted key individuals related to the Camsing Incident for contract fraud on November 1, 2022. Noah believes the criminal proceedings will not materially affect its business operations. As of June 30, 2022, Noah managed assets worth RMB155.4 billion (US$23.2 billion) and distributed RMB34.3 billion (US$5.4 billion) in investment products in the first half of 2022.
Noah Holdings Limited, a leading wealth management service provider in China, announced its application for a voluntary conversion to a dual-primary listing on the Hong Kong Stock Exchange. The conversion is expected to take effect by December 31, 2022. The company will also propose an issuance mandate allowing the issuance of up to 20% of total issued shares and a repurchase mandate for up to 10%. Additionally, the adoption of revised articles of association and the 2022 Share Incentive Plan will be presented for approval at the upcoming general meeting on December 6, 2022.
Noah Holdings Limited (NYSE: NOAH) reported its Q2 2022 financial results, revealing net revenues of RMB738.1 million (US$110.2 million), a 17.9% decrease year-over-year. This decline was primarily attributed to reduced one-time commissions and performance-based income, despite an increase in other service fees. Notably, net income attributable to shareholders rose by 14.2% to RMB349.0 million (US$52.1 million). The firm also announced a new dividend policy and plans for a dual-primary listing in Hong Kong, aiming to strengthen shareholder value amid ongoing market challenges.
Noah Holdings Private Wealth and Asset Management Limited will hold a board meeting on August 22, 2022, to approve its unaudited Q2 financial results for the three months ending June 30, 2022. The Q2 results will be announced on August 23, 2022, at 6:00 a.m. Hong Kong time. Following the announcement, senior management will host an earnings conference call at 8:00 a.m. the same day to discuss the results and business activities. Additionally, details for the call are provided for various regions, and replay options will be available post-call.
Noah Holdings has adopted a new dividend policy effective August 10, 2022, aiming to provide stable returns to shareholders. The policy stipulates that annual dividends will be at least 10% of non-GAAP net income, subject to financial conditions and the Group's growth needs. Dividends will be declared by the Board by March each year and are subject to shareholder approval by June. Notably, the policy is not a binding commitment, and future dividend amounts are not guaranteed.
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