Noah Holdings Posts Proper Q4 and Corpulent-one year Monetary Efficiency
HONG KONG, Mar 27, 2024 – (ACN Newswire) – Noah Holdings Restricted (the “Firm,” or “Noah”) (NYSE: NOAH and HKEX: 6686), a leading wealth management carrier provider offering entire global investment and asset allocation advisory providers and products essentially for excessive-win-rate investors, this present day launched its unaudited monetary outcomes for the fourth quarter and the monetary outcomes for the fleshy one year ended December 31, 2023.
Despite a substantial one year for the worldwide wealth management industry and a slack put up-pandemic financial restoration, Noah continued to power revenue and non-GAAP win profits growth and advantage a healthy working margin. This strong performance changed into once pushed by Noah’s strategic foresight and flexibility because it transitioned from a product-centered mannequin to a resolution-pushed reach. This strategic shift allowed Noah to support in constructing portfolios that are resilient in the face of necessary market cycles, incomes it fundamental believe from existing and doubtless purchasers.
Ms. Jingbo Wang, co-founder and Chairwoman of Noah, acknowledged “Noah’s relentless specialise in client needs, spearheaded our transition from a product-centered mannequin to a alternate options-pushed reach over the previous one year, strengthening our capability handbook purchasers by this necessary market ambiance. The prance of our world growth continues to expand as our purchasers’ demand for global asset allocation grows. Our steadiness sheet is powerful, comely and is generating ample capital to boost Noah’s in a international nation growth. By enhancing operational efficiency, attracting high talent, and strategically cutting charges whereas concurrently investing in recent world markets, channels, technologies and the enchancment of a world product and carrier matrix, we are ideally positioned to support purchasers traverse this market.”
Noah generated total win revenues of RMB 3.3 billion in 2023, an expand of 6.3% from 2022, with RMB 2.5 billion from wealth management and RMB 766.2 million from asset management. Operating revenue for the one year finished a limited expand of 0.9% YoY, whereas working revenue margin for the one year remained at a healthy stage of 33.3%.
Noah made fundamental development in expanding its world presence in 2023. As demand for asset safety and global diversification grows, Noah is without prolong aligning itself with client priorities and investing in in a international nation providers and products and products. By its enriched product choices and enhanced cooperation with high global significant and secondary market funds and insurance companies, Noah drove will enhance of 10.7% in in a international nation AUM, 73% in in a international nation win revenues, 14.2% and 38.0% in in a international nation registered purchasers and packed with life purchasers, respectively. As a percentage of total win revenues, in a international nation win revenues accounted for 43.5% in 2023.
Noah’s world footprint additionally expanded in 2023. Following intensive overview to establish in a international nation markets with excessive concentrations of HNW Chinese language-talking investors, Noah opened an keep of job in Los Angeles. To boost this expanding presence, Noah onboarded 89 in a international nation relationship managers as of the terminate of 2023, ramped up campus recruitment to be clear a exact pipeline of extremely licensed graduates, equipped in a international nation relocation alternatives to excessive-performing workers, and continued to recruit capable professionals from global high tier deepest banks in our aim markets. This diverse and extremely knowledgeable knowledgeable group will better again purchasers with in a international nation assets and deepen Noah’s share of their USD wallet, allowing it to entice recent purchasers staunch by the globe.
The Firm’s performance in 2023 changed into once extensively acknowledged by the industry with a wide collection of awards, including ‘Most sharp Self ample Wealth Manager – China’ by Asian Deepest Banker for the seventh straight one year, ‘Most sharp Wealth Manager for International Asset Management’ by Asiamoney, and ‘Most sharp Wealth Manager’ by Euromoney in 2023, underscoring its location as a prance-setter in in a international nation wealth management. Recently, Noah finished a prime milestone by receiving fleshy membership to the Deepest Wealth Management Affiliation (PWMA), becoming the principle non-monetary institution institution to be welcomed into this noted group.
The Firm’s CIO home detect and CCI mannequin replicate this world focus and mix it with the most up-to-date asset allocation advice and a fleshy suite of wealth management providers and products and products. This strategic reach has additional resonated with purchasers all over recent market volatility. On the terminate of the fourth quarter of 2023, Diamond Card purchasers lowered by 2.8% from the identical duration closing one year and 1.2% sequentially. On the opposite hand, the collection of Dim Card purchasers elevated by 8.8% one year-over-one year and 1.7% sequentially, reflecting a rising vogue of Diamond purchasers upgrading to Dim Card location. This underscoring the believe and loyalty purchasers keep in Noah, namely in these necessary market conditions. Starting from 2024, the semi-annual CIO file begins issuing both home and in a international nation variations to build purchasers with strengthened in a international nation investment advice.
Noah continued to make investments in its technology stack all one year long to enhance the shopper journey globally and maximize within efficiency. iNoah One Fable, the Firm’s wealth management platform, expanded in 2023 with money management, hedge funds, structured products, and one-click on access to overview and ideas. It additionally gave purchasers access to at least one-click on CCI portfolio reports, enhanced its CRM gadget to generate fundamental time savings for relationship managers, and streamlined insurance providers and products in Hong Kong because it works to prolong these improvements globally. These efforts had been extensively identified by the industry, with Noah being named “Most sharp Wealth Management Platform for Investments and Digital Innovation” in 2023.
In March 2024, the Firm’s Board of Directors accepted an annual dividend of roughly RMB 509 million (USD 71.7 million) in total, equivalent to 50% of 2023 non-GAAP win profits attributable to Noah shareholders, and a non-routine special dividend of roughly RMB 509 million (USD 71.7 million) in total for 2023. Thus, the quantity of total shareholder returns for 2023 can be RMB 1 billion, equivalent to 100% of 2023 non-GAAP win profits, field to final approval of AGM in June 2024. The dividends replicate Noah’s self perception in its future industry potentialities and commitment to returning capital to shareholders whereas making certain that it has the sources valuable to fuel future growth.
Noah’s fleshy monetary outcomes for the fourth quarter and one year ended December 31, 2023 come in at ir.noahgroup.com.
ABOUT NOAH HOLDINGS LIMITED
Noah Holdings Restricted (NYSE: NOAH and HKEX:6686) is a leading and pioneer wealth management carrier provider offering entire one-terminate advisory providers and products on global investment and asset allocation essentially for mandarin-talking excessive-win-rate investors. In 2023, Noah distributed RMB 74.1 billion (US$10.4 billion) of investment products. By Gopher Asset Management, Noah had assets below management of RMB 154.6 billion (US$21.8 billion) as of December 31, 2023.
Noah’s wealth management industry essentially distributes deepest equity, deepest secondary, mutual fund and change products denominated in RMB and change currencies. Noah’s community covers 44 cities in mainland China, along with to Hong Kong (China), New York, Silicon Valley, Los Angeles and Singapore. A filled with 1,252 relationship managers present customized monetary alternate options for purchasers by this community, and meet their world investment needs. The Firm’s wealth management industry had 455,827 registered purchasers as of December 31, 2023. By Gopher Asset Management, Noah manages deepest equity, public securities, staunch property, multi-approach and change investments denominated in Renminbi and change currencies. The Firm additionally affords change companies.
For more files, please seek the advice of with Noah at ir.noahgroup.com.
SAFE HARBOR STATEMENT
This announcement incorporates ahead-having a stare statements. These statements are made below the “protected harbor” provisions of the U.S. Deepest Securities Litigation Reform Act of 1995. These ahead-having a stare statements might perchance presumably perchance well additionally additionally be identified by terminology similar to “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and the same statements. Noah might perchance presumably perchance well additionally additionally produce written or oral ahead-having a stare statements in its periodic reports to the U.S. Securities and Alternate Commission, in its annual reports to shareholders, in bulletins, circulars or change publications made on the net page of The Stock Alternate of Hong Kong Restricted (the “Hong Kong Stock Alternate”), in press releases and change written materials and in oral statements made by its officers, directors or workers to third occasions. Statements that are now now not historical facts, including statements about Noah’s beliefs and expectations, are ahead-having a stare statements. Forward-having a stare statements maintain inherent dangers and uncertainties. These statements encompass, but are now now not diminutive to, estimates concerning the sufficiency of Noah’s money and money equivalents and liquidity threat. A collection of components might perchance presumably perchance well additionally cause Noah’s staunch outcomes to fluctuate materially from these contained in any ahead-having a stare assertion, including but now now not diminutive to the following: its targets and methods; its future industry construction, monetary condition and outcomes of operations; the expected growth of the wealth management and asset management market in China and internationally; its expectations concerning demand for and market acceptance of the products it distributes; investment dangers connected with investment products distributed to Noah’s investors, including the threat of default by counterparties or lack of mark as a consequence of market or industry conditions or misconduct by counterparties; its expectations concerning keeping and strengthening its relationships with key purchasers; relevant govt policies and guidelines concerning to its industries; its capability to entice and establish licensed workers; its capability to protect abreast of market trends and technological advances; its plans to make investments in overview and construction to give a lift to its product selections and carrier choices; opponents in its industries in China and internationally; in type financial and industry conditions globally and in China; and its capability to effectively protect its intellectual property rights and now now not to infringe on the intellectual property rights of others. Additional files concerning these and change dangers is incorporated in Noah’s filings with the U.S. Securities and Alternate Commission and the Hong Kong Stock Alternate. All files equipped in this press beginning and in the attachments is as of the date of this press beginning, and Noah does now now not undertake any obligation to update this type of files, including ahead-having a stare statements, as a outcomes of recent files, future occasions or in another case, except as required below the suitable law.
Contact files:
Noah Holdings Restricted Email: in_communication@noahgroup.com
Topic: Press beginning abstract
Sectors: Day by day Finance
http://www.acnnewswire.com
From the Asia Corporate Information Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate Information Network.
