Noah Holdings Ltd
NYSE:NOAH
Noah Holdings Ltd
Noah Holdings Ltd. provides investment advisory and wealth management services. The company is headquartered in Shanghai, Shanghai and currently employs 3,148 full-time employees. The company went IPO on 2010-11-10. The firm operates through three segments: wealth management, asset management and Internet finance. The company also provides Internet finance services to clients in China. The company provides direct access to China's high net worth population. With approximately 1,100 relationship managers in over 130 branch offices, its coverage network includes China's regions where high net worth population is concentrated, including the Yangtze River Delta, the Pearl River Delta, the Bohai Rim and other regions. Its product offerings consist primarily of over-the-counter (OTC) wealth management and OTC asset management products, mutual fund products and asset management plans originated in China and designed to cater to the needs of China's high net worth population.
Noah Holdings Ltd. provides investment advisory and wealth management services. The company is headquartered in Shanghai, Shanghai and currently employs 3,148 full-time employees. The company went IPO on 2010-11-10. The firm operates through three segments: wealth management, asset management and Internet finance. The company also provides Internet finance services to clients in China. The company provides direct access to China's high net worth population. With approximately 1,100 relationship managers in over 130 branch offices, its coverage network includes China's regions where high net worth population is concentrated, including the Yangtze River Delta, the Pearl River Delta, the Bohai Rim and other regions. Its product offerings consist primarily of over-the-counter (OTC) wealth management and OTC asset management products, mutual fund products and asset management plans originated in China and designed to cater to the needs of China's high net worth population.
Profitability: Non-GAAP net income surged 52.2% year-on-year to RMB 229 million, with margins expanding despite a slight revenue decline.
Revenue Trend: Revenue was RMB 633 million, down 7.4% YoY due to insurance softness but up sequentially for the second quarter in a row.
Investment Products: Investment product revenues grew strongly and now make up 28% of total revenue, up from 18% last year.
AI Integration: AI initiatives moved from planning to implementation, including the launch of an AI RM and operational pilots in Singapore.
Global Expansion: Four new overseas booking centers were established, and a US broker-dealer license was obtained to support future growth.
Cost Discipline: Operating expenses fell 1.6% sequentially and 6.5% YoY for the first nine months, supporting margin expansion.
Strong Balance Sheet: Cash and short-term investments totaled RMB 5.0 billion with no debt, even after a RMB 550 million dividend payout.
