Noah Hldgs Ltd Stock Price, News & Analysis

Noah Holdings Limited, a leading wealth management service provider in China, has filed its annual report on Form 20-F for the fiscal year ending December 31, 2022, with the U.S. Securities and Exchange Commission on April 24, 2023. The annual report detailing financial performance can be accessed via the company's investor relations website, where shareholders can also request free hard copies of audited financial statements. In 2022, Noah distributed RMB70.3 billion (US$10.2 billion) of investment products and reported assets under management of RMB157.1 billion (US$22.8 billion) as of December 31, 2022. The company's wealth management services cater primarily to high net worth individuals across 75 cities in mainland China and several international locations, supported by a network of 1,276 relationship managers.

Noah Holdings Limited (NYSE: NOAH) reported its fourth quarter 2022 financial results, revealing a 30.0% year-over-year decrease in net revenues to RMB882.1 million (US$127.9 million), attributed to reduced one-time commissions and performance-based income. Despite this, net revenues rose 28.9% quarter-over-quarter. The company posted a 66.1% increase in income from operations, totaling RMB219.7 million (US$31.9 million). However, net income attributable to shareholders fell 50.3% year-over-year to RMB139.9 million (US$20.3 million). For the full year 2022, net revenues dropped 27.8% to RMB3,100.4 million (US$449.5 million).

The board of directors of Noah Holdings will convene on March 27, 2023, to review unaudited financial results for Q4 and FY 2022, concluding on December 31, 2022. The subsequent announcement, scheduled for March 28, 2023, will detail the financial performance and may include a final dividend recommendation. A conference call will follow the announcement to discuss the results, with access details provided. Shareholders are cautioned as the dividend may not be approved, contingent on board and shareholder consent. For more information, stakeholders can access the company's investor relations website.

Noah Holdings Limited (NYSE: NOAH) announced its awareness of the Silicon Valley Bank (SVB) closure and the appointment of the Federal Deposit Insurance Corporation as receiver. Noah holds less than US$1 million in cash with SVB, representing under 0.2% of its total cash assets, thus viewing its exposure to liquidity concerns as immaterial. The company has also taken protective measures for its investment funds associated with SVB and will continue to fulfill its fiduciary duties to investors. As of September 30, 2022, Noah managed assets totaling approximately US$22 billion.

Noah Holdings Limited has announced the effective conversion of its secondary listing to a primary listing on the Hong Kong Stock Exchange, enhancing its dual-primary listing status alongside the NYSE. This move is expected to improve liquidity and broaden its investor base, particularly towards eligibility for the Mainland-Hong Kong Stock Connect program. In 2022, Noah's wealth management services distributed RMB52.3 billion (US$7.3 billion) in investment products, managing assets worth RMB156.2 billion (US$22.0 billion) as of September 30, 2022.

Noah Holdings Limited (NYSE: NOAH) announced that its annual general meeting (AGM) took place on December 16, 2022, in Singapore. During this meeting, shareholders approved all proposed resolutions, including a key decision to convert its primary listing to The Stock Exchange of Hong Kong Limited, effective December 23, 2022. The company is recognized as a leading wealth management service provider in China, managing assets worth RMB156.2 billion (US$22.0 billion) as of September 30, 2022. Noah aims to enhance its advisory services for high net worth investors.

Noah Holdings Limited (NYSE: NOAH) has announced its upcoming annual general meeting (AGM) scheduled for December 16, 2022, in Singapore. Shareholders are invited to approve proposals outlined in the AGM Circular available on the investor relations website. As of October 24, 2022, Class A ordinary share and ADS holders can participate and vote. Additionally, Noah has filed its annual report for the fiscal year ending December 31, 2021, with the SEC, detailing a distribution of RMB34.3 billion (US$5.4 billion) in investment products in H1 2022, with assets under management reaching RMB155.4 billion (US$23.2 billion).