• Education
    • Higher Education
    • Scholarships & Grants
    • Online Learning
    • School Reforms
    • Research & Innovation
  • Lifestyle
    • Travel
    • Food & Drink
    • Fashion & Beauty
    • Home & Living
    • Relationships & Family
  • Technology & Startups
    • Software & Apps
    • Startup Success Stories
    • Startups & Innovations
    • Tech Regulations
    • Venture Capital
    • Artificial Intelligence
    • Cybersecurity
    • Emerging Technologies
    • Gadgets & Devices
    • Industry Analysis
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy
Today Headline
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
Today Headline
No Result
View All Result
Home Business & Finance Stock Market

Noah’s 3Q2024 Earnings Showcase Robust Overseas Growth By Investing.com todayheadline

November 27, 2024
in Stock Market
Reading Time: 5 mins read
A A
0
IMAC Holdings receives notification of deficiency from Nasdaq related to delayed filing of quarterly report on Form 10-Q By Investing.com
5
SHARES
10
VIEWS
Share on FacebookShare on Twitter

SHANGHAI, Nov. 27, 2024 /PRNewswire/ —  Noah Holdings Limited (“Noah” or “the Company”) (NYSE: NOAH and HKEX: 6686), a leading and pioneer wealth management service provider offering comprehensive advisory services on global investment and asset allocation primarily for Mandarin-speaking high-net-worth investors, today announced its unaudited financial results for the third quarter of 2024.

The Company generated solid sequential growth in both overseas net revenues and operating income, highlighting the effectiveness of its international expansion. Noah unveiled its new brands to serve  overseas Mandarin-speaking clients during the quarter, including its wealth management division, Ark Wealth Management; its asset management division, Olive Asset Management; and its comprehensive services division, Glory Family Heritage. Additionally, Noah remains committed to prioritizing shareholder interests and delivering sustained returns once the window opens for the US$50 million share repurchase program it announced at the end of August.

Financial Results Breakdown

In the third quarter of 2024, net revenues were RMB 683.7 million (US$ 97.4 million), an 11.0% sequential increase, driven primarily by growth in the Company’s overseas business.

Net revenues from overseas were RMB 376.9 million (US$ 53.7 million), an increase of 28.9% year-over-year and 35.3% sequentially. Overseas revenues accounted for over 55.1% of net revenues during the quarter, underscoring Noah’s expanding global presence and unique competitive advantage in serving Mandarin-speaking high-net-worth investors.

Income from operations was RMB 240.8 million (US$ 34.3 million), effectively flat when compared to the same period last year and a notable increase of 79.7% sequentially, primarily due to various cost control initiatives and ongoing efforts to optimize its corporate structure, service quality, and operational efficiency. Operating margin recovered to 35.2%,  an increase of 13.5% sequentially.

Global Strategy Driving Sustainable Growth

In the third quarter, and in response to evolving macroeconomic conditions, Noah accelerated its overseas expansion by gradually rolling out wealth management services targeting key markets such as Southeast Asia, Japan, Canada, the United States, and Europe. The Company also deepened collaborations with leading global financial institutions, launching a series of innovative products and services, further boosting its global market competitiveness and influence.

This quarter, Noah also expanded its team of overseas relationship managers to 146, a significant 89.6% year-on-year increase. This growing team significantly strengthens its overseas professional service capabilities and lays a solid foundation for sustainable growth going forward.

Share Repurchase Program Reflects Confidence in the Future

In late August 2024, Noah Holdings (NYSE:)’ Board of Directors authorized a US$50 million share repurchase program, allowing the Company to buy back its American depository shares or ordinary shares over a two-year period. This underscores the Company’s commitment to enhancing shareholder value and confidence in its long-term growth prospects. Share repurchases are expected to begin when the next buyback window opens.

“Noah’s third quarter results highlight the progress our global expansion is making and our ability to adapt to evolving market dynamics,” said Noah’s CEO, Mr. Yin Zhe. “At the same time, we have been working to improve our overall global compliance framework and professional service capabilities. We believe the overseas wealth management needs of Mandarin-speaking clients remain inadequately addressed. In response, we continue to actively expand our international business by increasing the number of local branches, strengthening our team of overseas relationship managers, and enhancing our online services capabilities to improve the quality of our offerings. We believe our stock remains undervalued and does not fully reflect our growth prospects, robust balance sheet, and cash reserves, as well as the special bond with Mandarin-speaking high-net-worth investors around the world. This share buyback reflects our confidence in the future as we expand internationally and drive long-term sustainable growth going forward.”

Outlook

Looking ahead, Noah remains committed to monitoring international market dynamics and evolving client needs while optimizing its global asset allocation strategies and service models. The Company will also continue to strengthen compliance and risk management capabilities to ensure steady business growth.

By fostering innovation and professional expertise, Noah aims to deliver comprehensive, high-quality wealth management services to global Mandarin-speaking high-net-worth clients, driving sustainable growth and maximizing long-term value.

Ms. Wang Jingbo, Noah’s Co-Founder and Chairwoman, added, “Noah’s future presents both opportunities and challenges. By adhering to our client-centric philosophy, we will continue refining our products and services to foster deeper client satisfaction and loyalty. At the same time, we will strengthen collaborations with leading global financial institutions, driving innovation and development to ensure Noah remains at the forefront of the global wealth management industry.”

About Noah Holdings Limited

Noah Holdings Limited (NYSE: NOAH, HKEX: 6686) is a leading wealth management service provider in China, offering comprehensive global investment and asset allocation advisory services to high-net-worth investors.

Noah’s wealth management business primarily distributes private equity, secondary market funds, mutual funds, and other products denominated in RMB and other currencies. Through its extensive global network, the Company provides tailored financial solutions and meets clients’ international investment needs via offices in Hong Kong SAR, Taiwan region, Japan, New York, Silicon Valley, and Singapore.

Through its affiliate Gopher Asset Management, Noah manages private equity, public securities, real estate, multi-strategy, and other investments denominated in RMB and other currencies. Noah also offers additional services.

For more information, visit Noah’s official website at ir.noahgroup.com.

Noah Holdings: in_communication@noahgroup.com


Previous Post

A Toddler Got a Nasal Swab Test but Left Before Seeing a Doctor. The Bill was $445.

Next Post

Emperor and empress visit grave of Princess Yuriko

Related Posts

Austria grappling with venue, funding for next Eurovision Song Contest

Austria grappling with venue, funding for next Eurovision Song Contest todayheadline

May 18, 2025
4
Estonia says Russia detained a tanker in Baltic Sea

Estonia says Russia detained a tanker in Baltic Sea todayheadline

May 18, 2025
5
Next Post
Emperor and empress visit grave of Princess Yuriko

Emperor and empress visit grave of Princess Yuriko

  • Trending
  • Comments
  • Latest
Family calls for change after B.C. nurse dies by suicide after attacks on the job

Family calls for change after B.C. nurse dies by suicide after attacks on the job

April 2, 2025
Pioneering 3D printing project shares successes

Product reduces TPH levels to non-hazardous status

November 27, 2024

Hospital Mergers Fail to Deliver Better Care or Lower Costs, Study Finds todayheadline

December 31, 2024

Police ID man who died after Corso Italia fight

December 23, 2024
Harris tells supporters 'never give up' and urges peaceful transfer of power

Harris tells supporters ‘never give up’ and urges peaceful transfer of power

0
Des Moines Man Accused Of Shooting Ex-Girlfriend's Mother

Des Moines Man Accused Of Shooting Ex-Girlfriend’s Mother

0

Trump ‘looks forward’ to White House meeting with Biden

0
Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

0
Leafs, Maurice reflect on Scheifele’s performance

Leafs, Maurice reflect on Scheifele’s performance

May 18, 2025

Narcissism | Jordan Times

May 18, 2025
Wrexham 1-0 Mansfield (Nov 9, 2024) Game Analysis - ESPN

Everton 2-0 Southampton (May 18, 2025) Game Analysis – ESPN

May 18, 2025

U.S. routs Kazakhstan to advance at ice hockey worlds todayheadline

May 18, 2025

Recent News

Leafs, Maurice reflect on Scheifele’s performance

Leafs, Maurice reflect on Scheifele’s performance

May 18, 2025
0

Narcissism | Jordan Times

May 18, 2025
2
Wrexham 1-0 Mansfield (Nov 9, 2024) Game Analysis - ESPN

Everton 2-0 Southampton (May 18, 2025) Game Analysis – ESPN

May 18, 2025
4

U.S. routs Kazakhstan to advance at ice hockey worlds todayheadline

May 18, 2025
3

TodayHeadline is a dynamic news website dedicated to delivering up-to-date and comprehensive news coverage from around the globe.

Follow Us

Browse by Category

  • Africa
  • Asia
  • Basketball
  • Business & Finance
  • Climate Change
  • Crime & Justice
  • Economic Policies
  • Elections
  • Entertainment
  • Entrepreneurship
  • Environmental Policies
  • Europe
  • Football
  • Gadgets & Devices
  • Health
  • Medical Research
  • Mental Health
  • Middle East
  • Motorsport
  • Olympics
  • Politics
  • Public Health
  • Relationships & Family
  • Science & Environment
  • Software & Apps
  • Space Exploration
  • Sports
  • Stock Market
  • Technology & Startups
  • Tennis
  • Travel
  • Uncategorized
  • Us & Canada
  • Wildlife & Conservation
  • World News

Recent News

Leafs, Maurice reflect on Scheifele’s performance

Leafs, Maurice reflect on Scheifele’s performance

May 18, 2025

Narcissism | Jordan Times

May 18, 2025
  • Education
  • Lifestyle
  • Technology & Startups
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy

© 2024 Todayheadline.co

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business & Finance
  • Corporate News
  • Economic Policies
  • Entrepreneurship
  • Market Trends
  • Crime & Justice
  • Court Cases
  • Criminal Investigations
  • Cybercrime
  • Legal Reforms
  • Policing
  • Education
  • Higher Education
  • Online Learning
  • Entertainment
  • Awards & Festivals
  • Celebrity News
  • Movies
  • Music
  • Health
  • Fitness & Nutrition
  • Medical Breakthroughs
  • Mental Health
  • Pandemic Updates
  • Lifestyle
  • Fashion & Beauty
  • Food & Drink
  • Home & Living
  • Politics
  • Elections
  • Government Policies
  • International Relations
  • Legislative News
  • Political Parties
  • Africa
  • Asia
  • Europe
  • Middle East
  • Artificial Intelligence
  • Cybersecurity
  • Emerging Technologies
  • Gadgets & Devices
  • Industry Analysis
  • Basketball
  • Football
  • Motorsport
  • Olympics
  • Climate Change
  • Environmental Policies
  • Medical Research
  • Science & Environment
  • Space Exploration
  • Wildlife & Conservation
  • Sports
  • Tennis
  • Technology & Startups
  • Software & Apps
  • Startup Success Stories
  • Startups & Innovations
  • Tech Regulations
  • Venture Capital
  • Uncategorized
  • World News
  • Us & Canada
  • Public Health
  • Relationships & Family
  • Travel
  • Research & Innovation
  • Scholarships & Grants
  • School Reforms
  • Stock Market
  • TV & Streaming
  • Advertise with Us
  • Privacy & Policy
  • About us
  • Contact

© 2024 Todayheadline.co