Financial Performance - Net revenues for Q1 2024 were RMB649.5 million (US$90.0 million), a 19.2% decrease year-over-year, primarily due to declines in performance-based income from USD private equity products and recurring service fees from RMB private equity products[2]. - Income from operations for Q1 2024 was RMB121.5 million (US$16.8 million), a 56.4% decrease from the same period in 2023, driven by a 19.2% drop in net revenues and a 55.6% increase in general and administrative expenses[5]. - Net income attributable to Noah shareholders for Q1 2024 was RMB131.5 million (US$18.2 million), a 46.2% decrease year-over-year, mainly due to the significant decline in income from operations[7]. - Non-GAAP net income attributable to Noah shareholders for Q1 2024 was RMB161.2 million (US$22.3 million), a 32.7% decrease from the same period in 2023[8]. - Net income for Q1 2024 was RMB131.9 million (US$18.3 million), a 45.8% decrease from the same period in 2023, with a net margin of 20.3% compared to 30.3% in Q1 2023[35]. - Comprehensive income attributable to Noah shareholders decreased by 18.3% from RMB 227,427,000 to RMB 185,755,000[57]. - The company reported a diluted earnings per ADS of RMB 1.88 for the three months ended March 31, 2024, down 46.4% from RMB 3.51 for the same period in 2023[68]. Client Metrics - Total number of registered clients as of March 31, 2024, was 457,705, reflecting a 3.9% increase from the previous year, with overseas registered clients increasing by 17.1%[9]. - The number of registered clients reached 457,705 as of March 31, 2024, reflecting the company's growing client base[47]. - The number of active clients decreased by 7.5% from 11,236 to 10,391 during the same period[59]. Revenue Sources - Net revenues from mainland China in Q1 2024 were RMB342.8 million (US$47.5 million), a 28.8% decrease year-over-year, primarily due to declines in recurring service fees[3]. - Net revenues from one-time commissions increased by 7.4% year-over-year to RMB186.4 million (US$25.8 million), driven by a 4.6% rise in insurance product distribution revenues[26]. - Revenues from the Wealth Management Business decreased from RMB 588,653 thousand to RMB 464,210 thousand, a decline of 21.2%[63]. - Net revenues for the three months ended March 31, 2024, were RMB 649,535 thousand, compared to RMB 803,473 thousand for the same period in 2023, reflecting a decrease of 19.1%[61]. - The aggregate value of investment products distributed in Q1 2024 was RMB18.9 billion (US$2.6 billion), a 12.4% increase from Q1 2023, largely due to a 26.4% rise in mutual fund product distribution[10]. - Revenue from mutual fund products increased by 26.4% from RMB 9,975 million to RMB 12,610 million[59]. Operational Changes - The company streamlined its coverage network in mainland China to 18 cities as of March 31, 2024, down from 68 cities a year earlier[15]. - The number of relationship managers decreased by 16.4% year-over-year to 1,109 as of March 31, 2024, indicating a strategic focus on central hub cities[16]. - Total operating costs and expenses for the three months ended March 31, 2024, were RMB 528,049 thousand, compared to RMB 524,590 thousand for the same period in 2023, showing a slight increase of 0.9%[63]. - Operating costs and expenses for Q1 2024 were RMB528.0 million (US$73.1 million), a 0.7% increase from Q1 2023[31]. - The operating margin for Q1 2024 was 18.7%, down from 34.7% in the same period last year[33]. Asset Management - Total assets under management as of March 31, 2024, were RMB153.3 billion (US$21.2 billion), remaining stable compared to RMB154.6 billion as of December 31, 2023[18]. - The company managed assets totaling RMB153.3 billion (US$21.2 billion) through Gopher Asset Management as of March 31, 2024[47]. Foreign Currency and Interest Income - The company reported a foreign currency translation adjustment of RMB 53,400,000 in Q1 2024, compared to a loss of RMB 16,834,000 in Q1 2023[57]. - Interest income increased by 34.3% from RMB 34,388,000 to RMB 46,185,000[55].

SHANGHAI, Aug. 28, 2024 /PRNewswire/ -- Noah Holdings Limited ("Noah" or the "Company") (NYSE: NOAH and HKEX: 6686), 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, today announced its unaudited financial results for the second quarter of 2024.SECOND QUARTER 2024 FINANCIAL HIGHLIGHTS                                                                      ...

SHANGHAI, Aug. 28, 2024 /PRNewswire/ -- Noah Holdings Limited ("Noah" or the "Company") (NYSE: NOAH and HKEX: 6686), 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, today announced that as part of its commitment to enhancing shareholder returns, the board of directors of the Company (the "Board") authorized a share repurchase program under which the C ...

SHANGHAI, Aug. 6, 2024 /PRNewswire/ -- Noah Holdings Limited ("Noah" or the "Company") (NYSE: NOAH and HKEX: 6686), 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, rewarded shareholders with a record RMB1,018 million (approximately USD 140.1 million) dividend payout under its new capital management and shareholder return policy. The dividend payout wa ...

SHANGHAI, July 1, 2024 /PRNewswire/ -- Noah Holdings Limited ("Noah" or the "Company") (NYSE: NOAH and HKEX: 6686), 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, today announced changes to its Board of Directors (the "Board").Noah has appointed Mr. David Zhang as an Independent Director (non-executive Director according to the Rules Governing the Li ...

Core Points - Noah Holdings Limited held its annual general meeting in Hong Kong on June 12, 2024, where all proposed resolutions were approved by shareholders [1] - The company announced a final dividend of RMB509.0 million (approximately US$70.2 million) and a special dividend of the same amount, both with a distribution ratio of RMB1.54 (approximately US$0.21) per share [2] - As of March 31, 2024, Noah distributed RMB18.9 billion (US$2.6 billion) of investment products and managed assets totaling RMB153.3 billion (US$21.2 billion) through Gopher Asset Management [3] Company Overview - Noah Holdings Limited is a leading wealth management service provider focused on Mandarin-speaking high-net-worth investors, offering comprehensive advisory services on global investment and asset allocation [3][4] - The company operates a network of 1,109 relationship managers across 18 cities, providing customized financial solutions to 457,705 registered clients as of March 31, 2024 [4]

Noah Holdings Limited (NYSE:NOAH) Q1 2024 Results Conference Call May 29, 2024 8:00 PM ET Company Participants Melo Xi - Director of Investor Relations Zhe Yin - Co-Founder, Chief Executive Officer & Director Qing Pan - Group Chief Financial Officer Conference Call Participants Peter Zhang - JPMorgan Operator Good day, and welcome to the Noah Holdings First Quarter 2024 Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over t ...

SHANGHAI, May 29, 2024 /PRNewswire/ -- Noah Holdings Limited ("Noah" or the "Company") (NYSE: NOAH and HKEX: 6686), 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, today announced its unaudited financial results for the first quarter of 2024. FIRST QUARTER 2024 FINANCIAL HIGHLIGHTS                                                                        ...

SHANGHAI, May 17, 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 first quarter ended March 31, 2024, after U.S. markets close on May 29, 2024. Noah's management team will hold an earnings ...

SHANGHAI, April 24, 2024 /PRNewswire/ -- Noah Holdings Limited ("Noah" or the "Company") (NYSE: NOAH and HKEX: 6686), 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, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2023 with the U.S. Securities and Exchange Commission on April 24, 2024. The annual rep ...