Noah Hldgs Ltd Stock Price, News & Analysis

Noah Holdings Limited (NYSE: NOAH) provided an update on legal proceedings involving credit funds managed by Shanghai Gopher Asset Management. The Shanghai No.2 Intermediate People's Court convicted key individuals related to the Camsing Incident for contract fraud on November 1, 2022. Noah believes the criminal proceedings will not materially affect its business operations. As of June 30, 2022, Noah managed assets worth RMB155.4 billion (US$23.2 billion) and distributed RMB34.3 billion (US$5.4 billion) in investment products in the first half of 2022.

Noah Holdings Limited, a leading wealth management service provider in China, announced its application for a voluntary conversion to a dual-primary listing on the Hong Kong Stock Exchange. The conversion is expected to take effect by December 31, 2022. The company will also propose an issuance mandate allowing the issuance of up to 20% of total issued shares and a repurchase mandate for up to 10%. Additionally, the adoption of revised articles of association and the 2022 Share Incentive Plan will be presented for approval at the upcoming general meeting on December 6, 2022.

Noah Holdings Limited (NYSE: NOAH) reported its Q2 2022 financial results, revealing net revenues of RMB738.1 million (US$110.2 million), a 17.9% decrease year-over-year. This decline was primarily attributed to reduced one-time commissions and performance-based income, despite an increase in other service fees. Notably, net income attributable to shareholders rose by 14.2% to RMB349.0 million (US$52.1 million). The firm also announced a new dividend policy and plans for a dual-primary listing in Hong Kong, aiming to strengthen shareholder value amid ongoing market challenges.

Noah Holdings has adopted a new dividend policy effective August 10, 2022, aiming to provide stable returns to shareholders. The policy stipulates that annual dividends will be at least 10% of non-GAAP net income, subject to financial conditions and the Group's growth needs. Dividends will be declared by the Board by March each year and are subject to shareholder approval by June. Notably, the policy is not a binding commitment, and future dividend amounts are not guaranteed.

Noah Holdings Private Wealth and Asset Management Limited will hold a board meeting on August 22, 2022, to approve its unaudited Q2 financial results for the three months ending June 30, 2022. The Q2 results will be announced on August 23, 2022, at 6:00 a.m. Hong Kong time. Following the announcement, senior management will host an earnings conference call at 8:00 a.m. the same day to discuss the results and business activities. Additionally, details for the call are provided for various regions, and replay options will be available post-call.

Noah Holdings has announced its board's approval to pursue a voluntary dual-primary listing on the Hong Kong Stock Exchange. This Primary Conversion will allow the company to maintain trading of its ordinary shares in Hong Kong and American Depositary Shares in New York. The move is subject to regulatory compliance with Hong Kong's Listing Rules and obtaining necessary approvals. Noah Holdings, a prominent wealth management service provider in China, distributed RMB15.0 billion in investment products in Q1 2022 and managed assets worth RMB156.1 billion.

Noah Holdings Limited (NYSE: NOAH) announced the pricing of its Global Offering of 1,100,000 Class A ordinary shares, set at HK$292.00 (approximately US$18.60 per ADS). The offering consists of international and Hong Kong public offerings and is expected to close on July 13, 2022, pending approval. Gross proceeds are anticipated to reach HK$321.2 million before expenses. Funds will be used for business development, technology investment, and general corporate purposes. An over-allotment option allows for an additional 165,000 shares if exercised.

Noah Holdings Limited (NYSE: NOAH), a leading wealth management service provider in China, announced a global offering of 1,100,000 Class A ordinary shares, consisting of a public offering in Hong Kong and an international offering. The Hong Kong public offering will begin on June 30, 2022, with an initial offer price up to HK$307.00 (US$39.12) per share. The company aims to use net proceeds for business development, technology investment, and overseas expansion. The offering details include potential adjustments based on subscription levels and an over-allotment option for underwriters.

Noah Holdings Limited (NOAH) reported its unaudited financial results for Q1 2022, revealing net revenues of RMB795.7 million (US$125.5 million), a significant 35.0% drop YoY. Both wealth management and asset management segments saw declines, with wealth management revenue down 38.9%. Income from operations was RMB313.8 million (US$49.5 million), representing a 37.5% decrease YoY, though up 137.2% from Q4 2021. Net income attributable to shareholders fell 32.8% YoY to RMB305.2 million (US$48.2 million) but increased 8.5% sequentially. The company maintains a 2022 non-GAAP net income guidance of RMB1.45-1.55 billion.