NOAH HOLDINGS LIMITED ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE FOURTH QUARTER 2022 AND AUDITED FINANCIAL RESULTS FOR FULL YEAR 2022

SHANGHAI, March 27, 2023

FOURTH QUARTER 2022 FINANCIAL HIGHLIGHTS

• Net revenues for the fourth quarter of 2022 were RMB882.1 million (US$127.9 million), a 30.0% decrease from the corresponding period in 2021, mainly due to 1) decreases in one-time commissions, as less insurance products distributed compared with last year and 2) less performance based income generated from public securities products and offshore private equity products amid market volatilities. Net revenues increased by 28.9% compared with the third quarter of 2022, mainly due to an increase in distribution of insurance products and performance-based income.

(RMB millions, except percentages)	Q4 2021		Q4 2022		YoY Change ARIVA.DE Börsen-Geflüster Kurse Noah Holdings Ltd 11,40 € -3,39%
Wealth management	969.3		646.9		(33.3 %)
Asset management	273.8		223.2		(18.5 %)
Other businesses	17.0		12.0		(29.2 %)
Total net revenues	1,260.1		882.1		(30.0 %)

• Income from operations for the fourth quarter of 2022 was RMB219.7 million (US$31.9 million), a 66.1% increase from the corresponding period in 2021, as we recorded RMB85.6 million credit loss for our other business in the fourth quarter of 2021; income from operations decreased by 5.2% compared with the third quarter of 2022, primarily due to an increase in selling expenses and provision for credit losses.

• Net income attributable to Noah shareholders for the fourth quarter of 2022 was RMB139.9 million (US$20.3 million), a 50.3% decrease from the corresponding period in 2021, due to a 30.0% decrease in net revenues and a 23.3% decrease from the third quarter of 2022, due to a provision of contingent litigation expenses related to the first-instance ruling disclosed in December 12, 2022.
• Non-GAAP^[1] net income attributable to Noah shareholders for the fourth quarter of 2022 was RMB149.2 million (US$21.6 million), a 48.5% decrease from the corresponding period in 2021, and a 21.9% decrease from the third quarter of 2022.

FULL YEAR 2022 FINANCIAL HIGHLIGHTS

• Net revenues in the full year 2022 was RMB3,100.4 million (US$449.5 million), a 27.8% decrease from the full year 2021, mainly due to decreases in one-time commissions and performance-based income.

• Income from operations in the full year 2022 was RMB1,088.4 million (US$157.8 million), a 9.2% decrease from the full year 2021.

• Net income attributable to Noah shareholders in the full year 2022 was RMB976.6 million (US$141.6 million), a 25.7% decrease compared with full year 2021, due to decreases in net revenue and income from equity in affiliates amid market volatilities.
• Non-GAAP net income attributable to Noah shareholders in the full year 2022 was RMB1,008.6 million (US$146.2 million), a 26.5% decrease from the full year 2021.

FOURTH QUARTER AND FULL YEAR 2022 OPERATIONAL UPDATES

Wealth Management Business

We offer investment products and provide value-added services to high net worth investors in China and overseas for our wealth management business. Noah primarily distributes private equity, private secondary, mutual funds and other products denominated in RMB and other currencies.

• Total number of registered clients as of December 31, 2022 was 437,288, a 6.1% increase from December 31, 2021 and a 0.9% increase compared with September 30, 2022.
• Total number of active clients^[2] who transacted with us during the fourth quarter of 2022 was 12,904, a 26.1% decrease from the fourth quarter of 2021, and a 43.0% decrease from the third quarter of 2022. Total number of active clients who transacted with us during the full year 2022 was 35,877, a 16.1% decrease from the full year 2021.
• Aggregate value of investment products distributed during the fourth quarter of 2022 was RMB18.0 billion (US$2.6 billion), a 14.5% decrease from the corresponding period in 2021, mainly due to a decrease in the distribution of private secondary products due to the volatile secondary market.

Product type	Three months ended December 31,
	2021				2022
	(RMB in billions, except percentages)
Mutual fund products	10.2		48.5 % Werbung Mehr Nachrichten zur Noah Holdings Ltd Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 02:00 - PR Newswire abrdn Property Income Trust Limited - Annual Results - December 2023 29.04.24 - PR Newswire The Diverse Income Trust Plc - Monthly Factsheet 29.04.24 - PR Newswire Ninety One UK Ltd - Form 8.3 - BHP Group Limited Saubere Energie    Milliardärsinvestoren sehen enorme Chancen in der alternativen Energie der nächsten Generation weiterlesen» Anzeige wo-site-teaser-box-16797_site-teaser-box_2024-04-30_07%253A00%253A00_2024-05-01_09%253A00%253A59