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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 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.
Noah Holdings Limited (NYSE: NOAH) announced the pricing of its Global Offering of 1,100,000 Class A ordinary shares, set at HK$292.00 (approximately US$18.60 per ADS). The offering consists of international and Hong Kong public offerings and is expected to close on July 13, 2022, pending approval. Gross proceeds are anticipated to reach HK$321.2 million before expenses. Funds will be used for business development, technology investment, and general corporate purposes. An over-allotment option allows for an additional 165,000 shares if exercised.
Noah Holdings Limited (NYSE: NOAH), a leading wealth management service provider in China, announced a global offering of 1,100,000 Class A ordinary shares, consisting of a public offering in Hong Kong and an international offering. The Hong Kong public offering will begin on June 30, 2022, with an initial offer price up to HK$307.00 (US$39.12) per share. The company aims to use net proceeds for business development, technology investment, and overseas expansion. The offering details include potential adjustments based on subscription levels and an over-allotment option for underwriters.
Noah Holdings Limited (NOAH) reported its unaudited financial results for Q1 2022, revealing net revenues of RMB795.7 million (US$125.5 million), a significant 35.0% drop YoY. Both wealth management and asset management segments saw declines, with wealth management revenue down 38.9%. Income from operations was RMB313.8 million (US$49.5 million), representing a 37.5% decrease YoY, though up 137.2% from Q4 2021. Net income attributable to shareholders fell 32.8% YoY to RMB305.2 million (US$48.2 million) but increased 8.5% sequentially. The company maintains a 2022 non-GAAP net income guidance of RMB1.45-1.55 billion.
Noah Holdings Limited (NYSE: NOAH) will release its unaudited financial results for the first quarter of 2022 on May 11, 2022, after U.S. market closes. A conference call in English and Chinese will follow to discuss these results. In 2021, Noah distributed RMB97.2 billion (US$15.3 billion) of investment products and managed assets worth RMB156.0 billion (US$24.5 billion) as of December 31, 2021. The call can be accessed through various toll-free numbers and will be available for replay until May 18, 2022.
Noah Holdings Limited (NYSE: NOAH), a wealth management service provider in China, provided an update regarding its status under the Holding Foreign Companies Accountable Act (HFCAA) on April 13, 2022. The SEC has identified the Company as a Commission-Identified Issuer due to audit reports from an accounting firm that the PCAOB cannot fully inspect. If unresolved, Noah's ADSs could be delisted from the NYSE in early 2024. Despite this, the Company noted that the situation does not impact its business operations.
Noah Holdings Limited (NYSE: NOAH) has filed its annual report on Form 20-F for the fiscal year ending December 31, 2021. The report, which can be accessed on Noah's investor relations website, highlights that the company distributed RMB97.2 billion (US$15.3 billion) in investment products during 2021. As of December 31, 2021, Noah's Gopher Asset Management managed assets worth RMB156.0 billion (US$24.5 billion). Noah continues to provide comprehensive wealth management services primarily for high net worth individuals across various locations.
Noah Holdings Limited (NOAH) reported strong financial results for Q4 and full year 2021. Q4 net revenues reached RMB1,260.1 million (US$197.7 million), marking a 32.2% increase year-over-year. For FY 2021, net revenues totaled RMB4,293.1 million (US$673.7 million), up 29.9% from the previous year. While net income for Q4 was RMB281.3 million (US$44.1 million), a significant turnaround from a loss in 2020, operational income dropped 60.6% due to strategic investments. The company anticipates continued growth amid market volatility, projecting non-GAAP net income of RMB1.45 billion to RMB1.55 billion for 2022.
Noah Holdings Limited (NYSE: NOAH) will release its unaudited financial results for Q4 2021 on March 14, 2022, after the U.S. market closes. The results will be made available on the company's investor relations website. Following the release, senior management will host a bilingual conference call to discuss financial results and business activities. In 2021, Noah distributed RMB76.2 billion (US$11.8 billion) in investment products and managed RMB156.1 billion (US$24.2 billion) as of September 30, 2021.
iCapital Network announced a successful $50 million funding round led by WestCap, with new investments from Apollo (NYSE: APO) and Temasek. This funding values iCapital at over $6 billion and aims to enhance its technology platform, expand investment strategies, and pursue strategic acquisitions. Since July 2021, iCapital has seen significant growth, managing over $104 billion in assets, with international clients contributing $22 billion. The company is transforming access to alternative investments for high-net-worth individuals.
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