Large indirect Noah (NYSE: NOAH) stake disclosed at 20,263,835 shares

Rhea-AI Filing Summary

Noah Holdings Ltd director Chang Chia-Yue reported an indirect holding of 20,263,835 ordinary shares. The shares are held through Jia Investment Co., Ltd., a British Virgin Islands company that is wholly owned and controlled by her, reflecting her initial disclosed stake as a director.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Chang Chia-Yue

(Last) (First) (Middle)

7TH FLOOR, BLOCK B, NOAH WEALTH CENTER,

1226 SHENBIN SOUTH ROAD, MINHANG

(Street)

SHANGHAI F4 201107

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/16/2026

3. Issuer Name and Ticker or Trading Symbol
NOAH HOLDINGS LTD [ NOAH ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
ORDINARY SHARES	20,263,835	I	See footnote(1)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. By Jia Investment Co., Ltd., a British Virgin Islands company wholly-owned and controlled by Ms. Chia-Yue Chang.

	/s/ CHIA-YUE CHANG	03/16/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
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FAQ

What does the NOAH Form 3 filing show about Chang Chia-Yue's holdings?

The Form 3 shows that director Chang Chia-Yue indirectly holds 20,263,835 ordinary shares of Noah Holdings Ltd. These shares are reported as her initial beneficial ownership position in the company, providing a baseline view of her stake as an insider.

How many Noah Holdings (NOAH) shares does Chang Chia-Yue indirectly own?

Chang Chia-Yue indirectly owns 20,263,835 ordinary shares of Noah Holdings Ltd. This entire position is reported in a single holding entry, establishing her beneficial ownership level associated with her role as a director of the company.

How are Chang Chia-Yue's NOAH shares held according to the Form 3?

The 20,263,835 Noah Holdings shares are held through Jia Investment Co., Ltd. Jia Investment is a British Virgin Islands company that is wholly owned and controlled by Ms. Chang, so her interest is reported as indirect beneficial ownership.

Does the NOAH Form 3 indicate any recent share purchases or sales by Chang Chia-Yue?

The Form 3 does not report any specific share purchases or sales by Chang Chia-Yue. It records a single indirect holding entry of 20,263,835 ordinary shares, serving as an initial statement of her beneficial ownership position.

What is the nature of ownership for Chang Chia-Yue's Noah Holdings (NOAH) shares?

The reported ownership is indirect, with the filing referring to a footnote for details. The footnote explains that the shares are held by Jia Investment Co., Ltd., which is wholly owned and controlled by Ms. Chang, linking her to the full reported stake.