Noah Holdings Limited Files 2025 Annual Report on Form 20-F

Rhea-AI Summary

Noah Holdings (NYSE: NOAH) filed its 2025 Annual Report on Form 20-F with the U.S. Securities and Exchange Commission on April 29, 2026, covering the fiscal year ended December 31, 2025.

The annual report is available on Noah's investor relations website at http://ir.noahgroup.com. Shareholders may request a free hard copy of the complete audited financial statements by contacting Investor Relations at ir@noahgroup.com.

News Market Reaction – NOAH

-4.38%

-4.38% Session close to close

In the Apr 29 session, NOAH declined 4.38%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement confirms Noah’s 2025 audited results via its Form 20-F, following earlier unaudite...

Analysis

This announcement confirms Noah’s 2025 audited results via its Form 20-F, following earlier unaudited earnings releases. The filing highlights consolidated net revenue of RMB2,610.2 million, net income of RMB557.2 million, and dividends totaling RMB1,732.1 million from 2023–2025, plus additional 2026 payouts subject to approval. Investors may focus on the detailed risk disclosures around VIE structures, PRC regulations, and how these interact with the firm’s cross-border wealth strategy.

Key Figures

2023 VIE net revenue: RMB992.7 million 2024 VIE net revenue: RMB676.8 million 2025 VIE net revenue: RMB626.4 million +5 more

8 metrics

2023 VIE net revenue RMB992.7 million Net revenue from Consolidated Affiliated Entities, 2023

2024 VIE net revenue RMB676.8 million Net revenue from Consolidated Affiliated Entities, 2024

2025 VIE net revenue RMB626.4 million Net revenue from Consolidated Affiliated Entities, 2025

2025 consolidated revenue RMB2,610.2 million Consolidated net revenue for 2025

2025 net income RMB557.2 million Net income for 2025 reported in Form 20-F

Dividends 2023–2025 RMB1,732.1 million Dividends declared and distributed from 2023–2025

2026 annual dividend RMB306.0 million Additional annual dividend approved in 2026, subject to shareholder approval

2026 special dividend RMB306.0 million Additional special dividend approved in 2026, subject to shareholder approval

Historical Context

5 past events · Latest: Apr 14 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Apr 14	Industry awards	Positive	-1.0%	Multiple private banking and Euromoney awards for cross-border wealth expertise.
Mar 27	AI strategy event	Positive	+2.1%	AI-focused outlook forum highlighting AI-driven allocation and family-wealth architecture.
Mar 25	Earnings results	Positive	-1.1%	Q4 and FY2025 earnings showing higher profitability and AI-driven efficiency gains.
Mar 24	Prelim earnings	Positive	-1.1%	Unaudited Q4 and FY2025 results with modest revenue growth and stronger net income.
Mar 12	Earnings date set	Neutral	-3.5%	Announcement of schedule and logistics for Q4 and FY2025 earnings release.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent fundamentally positive or strategic news (awards, AI initiatives, strong earnings) often coincided with flat to negative next-day moves, suggesting a pattern of muted or contrarian reactions.

Recent Company History

This announcement follows a series of 2026 updates. On March 24 and 25, Noah reported unaudited and then detailed 2025 results highlighting higher profitability, AI-driven efficiency, and solid revenue of RMB2,610.2 million. Despite positive earnings and later industry awards on April 14, near-term price reactions were modest or negative. The current Form 20-F filing on April 29, 2026 formalizes audited 2025 data and detailed risk disclosures after those earlier earnings releases.

Key Terms

form 20-f, securities and exchange commission, consolidated affiliated entities, vie, +3 more

7 terms

form 20-f regulatory

"announced that it filed its annual report on Form 20-F for the fiscal year"

Form 20-F is the standardized annual disclosure that non-U.S. companies must file with the U.S. securities regulator when their shares are traded in the U.S.; it contains audited financial statements, a plain-language description of the business, management discussion, governance details and key risk factors. It matters to investors because it provides a consistent, comparable company “report card” and rulebook, helping buyers assess financial health, governance and risks before investing.

securities and exchange commission regulatory

"for the fiscal year ended December 31, 2025 with the U.S. Securities and Exchange Commission"

A national government agency that enforces rules for buying, selling and disclosing information about stocks and other investments, acting like a referee and scorekeeper for financial markets. It requires companies to share clear, regular financial and business information and investigates fraud or rule-breaking, which matters to investors because those rules and disclosures help ensure fair prices, reduce hidden risks and make it easier to compare investment choices.

consolidated affiliated entities regulatory

"through subsidiaries and Consolidated Affiliated Entities under contractual (VIE) arrangements"

Consolidated affiliated entities are businesses or units that a company controls or has close financial ties with and whose results are combined into the company’s financial statements, like adding the scores of several team members into one total. Investors care because these combined results show the company’s true size, risks and performance—including assets, debts and profits—that might be hidden if each affiliate reported separately, affecting valuation and decision-making.

vie regulatory

"through subsidiaries and Consolidated Affiliated Entities under contractual (VIE) arrangements"

To vie means to compete with others for a limited prize, such as contracts, customers, market share or an acquisition target. Investors pay attention because competition can change a company’s costs, pricing power and growth prospects—like bidders pushing prices higher at an auction, firms that actively vie can drive up spending or valuations and signal how likely they are to gain or lose market advantage.

american depositary shares financial

"Holders of American Depositary Shares as of close of business on Thursday, April 16, 2026"

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

form 4 regulatory

""[Form 4] NOAH HOLDINGS LTD Insider Trading Activity""

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

View in glossary

restricted stock units financial

"chief financial officer Pan Qing exercised restricted stock units into ordinary shares"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SINGAPORE, April 29, 2026 /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 global Chinese high net worth investors, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2025 with the U.S. Securities and Exchange Commission on April 29, 2026.

The annual report can be accessed on Noah's investor relations website at http://ir.noahgroup.com. The Company will also provide all shareholders the ability, upon request, to receive a hard copy of the complete audited financial statements free of charge. Requests should be directed to the Company's Investor Relations Department at ir@noahgroup.com.

About Noah Holdings Limited

Noah Holdings Limited (NYSE: NOAH and HKEX: 6686) is a leading and pioneer wealth management service provider offering comprehensive one-stop advisory services on global investment and asset allocation primarily for global Chinese high-net-worth investors. Noah's American depositary shares, or ADSs, are listed on the New York Stock Exchange under the symbol "NOAH", and its shares are listed on the main board of the Hong Kong Stock Exchange under the stock code "6686." One ADS represents five ordinary shares, par value $0.00005 per share.

In 2025, Noah distributed RMB67.0 billion (US$9.6 billion) of investment products. Through Gopher Asset Management and Olive Asset Management, Noah had assets under management of RMB141.7 billion (US$20.3 billion) as of December 31, 2025.

Founded in 2005, the firm pioneered a business model combining wealth management and asset management and has continued to build its international platform over the years. As of December 31, 2025, Noah had 467,870 registered clients. Through its wealth management platform, the Group distributes private equity, public securities, and insurance products denominated in RMB and other currencies, while its asset management capabilities support broader global asset allocation needs. As of December 31, 2025, Noah had established branches and service capabilities across mainland China, Hong Kong (China), Singapore, Japan, and key U.S. markets, including New York, Los Angeles, and Silicon Valley, reflecting its international operating footprint.

 

View original content:https://www.prnewswire.com/news-releases/noah-holdings-limited-files-2025-annual-report-on-form-20-f-302757246.html

SOURCE Noah Holdings Limited

FAQ

What did Noah (NOAH) file on April 29, 2026?

Noah filed its 2025 Annual Report on Form 20-F with the SEC on April 29, 2026. According to Noah, the filing covers the fiscal year ended December 31, 2025 and the report is available on the company's investor relations website for review.

How can NOAH shareholders request a hard copy of the 2025 audited financial statements?

Shareholders can request a free hard copy of the audited financial statements from Noah's Investor Relations. According to Noah, requests should be sent to ir@noahgroup.com and copies for the fiscal year ended December 31, 2025 will be provided free of charge upon request.

Where can investors download Noah's 2025 Form 20-F (NOAH)?

The 2025 Form 20-F is available for download on Noah's investor relations website at http://ir.noahgroup.com. According to Noah, the filing includes the complete audited financial statements for the fiscal year ended December 31, 2025.

Does filing the 2025 Form 20-F by NOAH change its trading status or require a shareholder vote?

Filing the Form 20-F is a regulatory disclosure and does not itself alter trading status or require shareholder approval. According to Noah, this submission is the company's annual SEC disclosure; any material corporate actions would be announced separately.