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Noah Holdings Limited Announces Unaudited Financial Results for the Third Quarter of 2017
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PR Newswire
SHANGHAI, Nov. 20, 2017
SHANGHAI, Nov. 20, 2017 /PRNewswire/ -- Noah Holdings Limited ("Noah" or the "Company") (NYSE: NOAH), a leading wealth and asset management service provider in China with a focus on global investment and asset allocation services for high net worth individuals and enterprises, today announced its unaudited financial results for the third quarter of 2017.
THIRD QUARTER 2017 FINANCIAL HIGHLIGHTS
- Net revenues for the third quarter of 2017 were RMB684.3 million (US$102.9 million), a 12.5% increase from the corresponding period in 2016.
| (RMB millions, except percentages) | Q3 2016 | | | Q3 2017 | | | YoY Change |
| Wealth management | 474.6 | | | 488.9 | | | 3.0% |
| Asset management | 122.5 | | | 164.6 | | | 34.3% |
| Internet financial services | 11.4 | | | 30.9 | | | 172.0% |
| Total net revenues | 608.5 | | | 684.3 | | | 12.5% |
- Income from operations for the third quarter of 2017 was RMB160.3 million (US$24.1 million), a 1.3% decrease from the corresponding period in 2016.
| (RMB millions, except percentages) | Q3 2016 | | | Q3 2017 | | | YoY Change |
| Wealth management | 143.1 | | | 106.8 | | | (25.3%) |
| Asset management | 62.4 | | | 77.5 | | | 24.3% |
| Internet financial services | (43.0) | | | (24.0) | | | (44.1%) |
| Total income from operations | 162.5 | | | 160.3 | | | (1.3%) |
- Net income attributable to Noah shareholders for the third quarter of 2017 was RMB185.9 million (US$27.9 million), a 19.8% increase from the corresponding period in 2016.
- Non-GAAP[1] net income attributable to Noah shareholders for the third quarter of 2017 was RMB215.4 million (US$32.4 million), a 19.9% increase from the corresponding period in 2016.
THIRD QUARTER 2017 OPERATIONAL UPDATES
Wealth Management Business
The Company's wealth management business offers financial products and provides comprehensive financial services to high net worth individuals, enterprise and institutional clients. Through its wealth management business, Noah primarily distributes onshore and offshore fixed income products, private equity products, secondary market products and insurance products.
- Total number of registered clients as of September 30, 2017 was 175,979, a 34.9% increase from September 30, 2016.
- Total number of active clients[2] during the third quarter of 2017 was 4,456, a 2.7% increase from September 30, 2016.
- Aggregate value of financial products distributed during the third quarter of 2017 was RMB23.5 billion (US$3.5 billion), a 1.5% decrease from the third quarter of 2016.
| Product type | Three months ended September 30, | |||
| | 2016 | 2017 | ||
| | (RMB in billions, except percentages) | |||
| Fixed income | 17.0 | 71.2% | 10.8 | 45.8% |
| Private equity | 5.4 | 22.5% | 9.6 | 40.7% |
| Secondary market equity | 1.0 | 4.3% | 3.1 | 13.2% |
| Other products | 0.5 | 2.0% | 0.1 | 0.3% |
| All products | 23.9 | 100.0% | 23.5 | 100.0% |
- Average transaction value per client[3] for the third quarter of 2017 was RMB5.3 million (US$0.8 million), a 4.1% decrease from the corresponding period in 2016.
- Number of relationship managers was 1,286 as of September 30, 2017, a 2.1% increase from June 30, 2017 and a 17.4% increase from September 30, 2016.
Asset Management Business
Gopher Asset Management Co. Ltd. ("Gopher"), a wholly-owned subsidiary of the Company, is a leading alternative asset manager in China. Gopher develops and manages private equity, real estate, secondary market, credit and other investments denominated in both Renminbi and foreign currencies.
- Total assets under management as of September 30, 2017 were RMB142.9 billion (US$21.5 billion), a 3.0% increase from June 30, 2017 and a 24.4% increase from September 30, 2016.
| Investment type | As of June 30, 2017 | Asset Growth | Asset Expiration/ Redemption | As of September 30, 2017 | | ||
| | (RMB billions, except percentages) | | |||||
| Real estate | 15.4 | 11.1% | 0.8 | 4.6 | 11.6 | 8.1% | |
| Private equity | 72.2 | 52.0% Werbung Mehr Nachrichten zur Noah Holdings Ltd Aktie kostenlos abonnieren
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