Welcome to our dedicated page for Noah Holdings news (Ticker: $NOAH), a resource for investors and traders seeking the latest updates and insights on Noah Holdings stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Noah Holdings's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Noah Holdings's position in the market.
Noah Holdings announced Q1 2024 unaudited financial results, showing a 19.2% YoY decrease in net revenues to RMB649.5 million (US$90.0 million). This decline was attributed to reduced performance-based income and recurring service fees from private equity products. Income from operations fell by 56.4% to RMB121.5 million (US$16.8 million), while net income attributable to shareholders decreased by 46.2% to RMB131.5 million (US$18.2 million). The number of registered clients grew by 3.9%, and the aggregate value of investment products distributed increased by 12.4% to RMB18.9 billion (US$2.6 billion). The asset management business saw a slight dip in assets under management to RMB153.3 billion (US$21.2 billion).
Noah Holdings (NYSE: NOAH, HKEX: 6686), a leading wealth management provider, will announce its unaudited Q1 2024 financial results on May 29, 2024, after U.S. markets close. An earnings call will follow at 8:00 p.m. U.S. Eastern Time, accessible via dial-in and webcast. The company, serving high-net-worth Mandarin-speaking investors, distributed RMB74.1 billion (US$10.4 billion) in 2023 and managed RMB154.6 billion (US$21.8 billion) in assets through Gopher Asset Management. Noah's extensive network includes 1,252 relationship managers across 44 cities, providing tailored financial solutions to 455,827 registered clients.
Noah Holdings provided updates on the legal proceedings against Camsing International Holding and its affiliates related to certain credit funds managed by Shanghai Gopher Asset Management Co., Shanghai Financial Court ruled in favor of Shanghai Gopher, ordering Camsing to pay RMB3.4 billion for the outstanding amount of the Camsing Receivables, along with legal fees and expenses. The judgment will become effective after the appeal period.