{"id":31718,"date":"2024-11-26T21:30:00","date_gmt":"2024-11-26T21:30:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4566408_CN66408_0"},"modified":"2024-11-26T21:30:00","modified_gmt":"2024-11-26T21:30:00","slug":"noah-holdings-limited-announces-unaudited-financial-results-for-the-third-quarter-of-2024","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=31718","title":{"rendered":"NOAH HOLDINGS LIMITED ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE THIRD QUARTER OF 2024"},"content":{"rendered":"<p><span class=\"legendSpanClass\"><span class=\"xn-location\">SHANGHAI<\/span>, Nov. 27, 2024 \/PRNewswire\/ &#8212;&nbsp;Noah Holdings Limited (&#8220;Noah&#8221; or the &#8220;Company&#8221;) (NYSE: NOAH and HKEX: 6686), a leading and pioneer wealth management service provider offering comprehensive one-stop 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.<\/span><\/p>\n<p><b>THIRD QUARTER 2024 FINANCIAL HIGHLIGHTS<\/b><\/p>\n<ul type=\"disc\">\n<li><b>N<\/b><b>et revenue<\/b><b>s<\/b> for the third quarter of 2024 were <span class=\"xn-money\">RMB683.7 million<\/span> (<span class=\"xn-money\">US$97.4 million<\/span>), an 8.8% decrease from the corresponding period in 2023, primarily due to a 33.0% decrease in net revenues from mainland <span class=\"xn-location\">China<\/span>, which was partially offset by a 28.9% increase in net revenues from overseas.<br \/>&nbsp;<br \/>Net revenues from mainland <span class=\"xn-location\">China<\/span> for the third quarter of 2024 were <span class=\"xn-money\">RMB306.8 million<\/span> (<span class=\"xn-money\">US$43.7 million<\/span>), a 33.0% decrease from the corresponding period in 2023, primarily due to decreases of 89.9% in revenue from distribution of domestic insurance products and 17.3% in revenue from recurring service fees from RMB private equity products.<br \/>&nbsp;<br \/>Net revenues from overseas for the third quarter of 2024 were <span class=\"xn-money\">RMB376.9 million<\/span> (<span class=\"xn-money\">US$53.7 million<\/span>), a 28.9% increase from the corresponding period in 2023, primarily due to increases of 42.5% in revenue from offshore investment products and 42.4% in revenue from insurance products, which were partially offset by a 38.8% decrease in revenue from other services provided to offshore high-net-worth investors.<\/li>\n<\/ul>\n<p><b>Net Revenues by segment is as follows:<\/b><\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"1.5\">\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(RMB millions, <\/b><\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>except percentages)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Q3 2023<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Q3 2024<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">YoY Change<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Wealth management<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">548.8<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">465.0<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(15.3&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Asset management<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">191.4<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">208.9<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">9.2&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other businesses<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">9.8<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">9.8<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(0.7&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Total net revenues<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">750.0<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">683.7<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(8.8&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p><b>Net Revenues by geography is as follows:<\/b><\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"1.5\">\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(RMB millions, <\/b><\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>except percentages)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Q3 2023<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Q3 2024<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">YoY Change<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Mainland China<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">457.7<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">306.8<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(33.0&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Overseas<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">292.3<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">376.9<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">28.9&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Total net revenues<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">750.0<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">683.7<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(8.8&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<ul type=\"disc\">\n<li><b>Income from operations<\/b> for the third quarter of 2024 was <span class=\"xn-money\">RMB240.8 million<\/span> (<span class=\"xn-money\">US$34.3 million<\/span>), a 3.2% decrease from the corresponding period in 2023, mainly due to the 8.8% decrease in net revenues, which was partially offset by an 11.6% decrease in operating costs and expenses driven by various cost control measures. Income from operations increased by 79.7% sequentially for the third quarter of 2024, primarily due to an 11.0% increase in net revenues and an 8.1% decrease in operating costs and expenses.<\/li>\n<\/ul>\n<p><b>Income from operations by segment is as follows:<\/b><\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"2.5\">\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(RMB millions, <\/b><\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>except percentages)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Q3 2023<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Q3 2024<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">YoY Change<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Wealth management<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">154.5<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">138.9<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(10.1&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Asset management<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">106.5<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">122.5<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">15.0&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other businesses<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(12.1)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(20.6)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">70.5&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Total income from operations<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">248.9<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">240.8<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(3.2&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<ul type=\"disc\">\n<li><b>Net income attributable to Noah shareholders<\/b> for the third quarter of 2024 was <span class=\"xn-money\">RMB134.4 million<\/span> (<span class=\"xn-money\">US$19.2 million<\/span>), a 42.4% decrease from the corresponding period in 2023, mainly due to (i) a 3.2% decrease in income from operations; (ii) approximately <span class=\"xn-money\">RMB43.6 million<\/span> in unrealized USD-denominated foreign exchange losses; and (iii) a one-off 30.0% increase in income tax expenses associated with a dividend withholding tax for offshore dividend payments from PRC subsidiaries. Net income attributable to Noah shareholders increased by 34.7% sequentially in the third quarter of 2024, mainly due to a 79.7% increase in income from operations.<\/li>\n<li><b>Non-GAAP<sup><b>[1]<\/b> <\/sup><\/b><b>net income attributable to Noah shareholders<\/b> for the third quarter of 2024 was <span class=\"xn-money\">RMB150.5 million<\/span> (<span class=\"xn-money\">US$21.4 million<\/span>), a 35.2% decrease from the corresponding period in 2023 and a 41.9% increase from the second quarter of 2024.<\/li>\n<\/ul>\n<p><b>THIRD QUARTER 2024 OPERATIONAL UPDATES<\/b><\/p>\n<p><b>Wealth Management Business<\/b><\/p>\n<p>Noah offers global investment products and provides value-added services to global Mandarin-speaking high-net-worth investors in its wealth management business. Noah primarily distributes private equity, private secondary, mutual funds and other products denominated in RMB, USD and other currencies.<\/p>\n<ul type=\"disc\">\n<li><b>Total number of registered clients<\/b> as of <span class=\"xn-chron\">September 30, 2024<\/span>, was 460,380, a 1.8% increase from <span class=\"xn-chron\">September 30, 2023<\/span>, and a 0.3% increase from <span class=\"xn-chron\">June 30, 2024<\/span>. Among registered clients as of <span class=\"xn-chron\">September 30, 2024<\/span>, the number of overseas registered clients was 17,287, a 20.9% increase from <span class=\"xn-chron\">September 30, 2023<\/span>, and a 3.0% increase from <span class=\"xn-chron\">June 30, 2024<\/span>.<\/li>\n<li><b>Total number of active clients<b>[2]<\/b><\/b> for the third quarter of 2024 was 7,857, a decrease of 17.2% from the third quarter of 2023 and a 9.0% decrease from the second quarter of 2024. Among active clients during the third quarter of 2024, the number of overseas active clients was 3,139, a 37.4% increase from the third quarter of 2023, and a 3.2% decrease from the second quarter of 2024.<\/li>\n<li><b>A<\/b><b>ggregate value of <\/b><b>investment<\/b><b> products distributed <\/b>during the third quarter of 2024 was <span class=\"xn-money\">RMB14.3 billion<\/span> (<span class=\"xn-money\">US$2.0 billion<\/span>), a 36.1% decrease from the corresponding period in 2023, mainly due to a 42.1% decrease in distribution of mutual fund products. The aggregate value of investment products distributed decreased by 1.1% sequentially, mainly due to a decrease in distribution of private secondary products. Among the investment products distributed during the third quarter of 2024, Noah distributed <span class=\"xn-money\">RMB7.8 billion<\/span> (<span class=\"xn-money\">US$1.1 billion<\/span>) of overseas investment products, an 11.4% increase from the corresponding period of 2023, primarily due to a 76.7% increase in distribution of overseas mutual fund products.<\/li>\n<\/ul>\n<p><b>The aggregate value of investment products distributed, categorized by product type, is as follows:<\/b><\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"4\">\n<tr readability=\"4.5\">\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen3\" colspan=\"7\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Three months ended September 30,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen13\" colspan=\"3\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen13\" colspan=\"3\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2024<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Product type<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"7\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(RMB in billions, except percentages)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Mutual fund products<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">14.9<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">66.9&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">8.6<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">60.6&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Private secondary&nbsp;products<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">5.7<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">25.4&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3.6<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">25.0&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Private equity products<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.7<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3.1&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1.1<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">7.5&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other products<b><b>[3]<\/b><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1.0<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">4.6&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1.0<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">6.9&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>All products<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>22.3<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>100.0&nbsp;%<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>14.3<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>100.0&nbsp;%<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p><b>The aggregate value of investment products distributed, categorized by geography, is as follows<\/b><b>\uff1a<\/b><\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"6\">\n<tr readability=\"7.5\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Type of products in mainland China<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"7\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Three months ended September 30,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen13\" colspan=\"3\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen13\" colspan=\"3\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2024<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen14\" colspan=\"7\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(RMB in billions, except percentages)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Mutual fund products<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">12.9<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">84.0&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">5.2<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">80.2&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Private secondary products&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1.8<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">11.4&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.8<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">12.3&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Private equity products<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.3&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.0&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other products<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.7<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">4.3&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.5<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">7.5&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>All products in mainland China <\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>15.4<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>100.0&nbsp;%<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>6.5<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>100.0&nbsp;%<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"5\">\n<tr readability=\"7.5\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Type of overseas products<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"7\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Three months ended September 30,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen13\" colspan=\"3\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen13\" colspan=\"3\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2024<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"7\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(RMB in billions, except percentages)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Mutual fund products<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2.0<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">28.1&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3.4<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">44.6&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Private secondary products&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3.9<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">56.2&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2.8<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">35.7&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Private equity products<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.7<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">10.8&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1.1<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">13.7&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other products<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.3<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">4.9&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.5<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">6.0&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>All Overseas products<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>6.9<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>100.0&nbsp;%<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>7.8<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>100.0&nbsp;%<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<ul type=\"disc\">\n<li><b>Coverage network <\/b>in mainland <span class=\"xn-location\">China<\/span> included 13 cities as of <span class=\"xn-chron\">September 30, 2024<\/span>, compared with 59 cities as of <span class=\"xn-chron\">September 30, 2023<\/span>, and 15 cities as of <span class=\"xn-chron\">June 30, 2024<\/span>, primarily due to the continued streamlining of the Company&#8217;s coverage network.<\/li>\n<li><b>Aggregate number of overseas relationship managers<\/b> was 146 as of <span class=\"xn-chron\">September 30, 2024<\/span>, an increase of 89.6% from <span class=\"xn-chron\">September 30, 2023<\/span>, and 29.2% from <span class=\"xn-chron\">June 30, 2024<\/span>.<\/li>\n<\/ul>\n<p><b>Asset Management Business<\/b><\/p>\n<p>Noah&#8217;s asset management business is conducted through Gopher Asset Management Co., Ltd. (&#8220;Gopher Asset Management&#8221;), a leading multi-asset manager in <span class=\"xn-location\">China<\/span>, and Olive Asset Management Co., Ltd. (&#8220;Olive Asset Management&#8221;), the Company&#8217;s recently launched overseas asset management brand focused on providing global investment solutions with offices in <span class=\"xn-location\">Hong Kong<\/span> and <span class=\"xn-location\">the United States<\/span>. Gopher Asset Management and Olive Asset Management develop and manage assets ranging from private equity, real estate, public securities to multi-strategy investments denominated in RMB, USD and other currencies.<\/p>\n<ul type=\"disc\">\n<li><b>Total assets under management <\/b>as of <span class=\"xn-chron\">September 30, 2024<\/span>, were <span class=\"xn-money\">RMB150.1 billion<\/span> (<span class=\"xn-money\">US$21.4 billion<\/span>), a 2.5% decrease from <span class=\"xn-chron\">June 30, 2024<\/span>, and a 3.1% decrease from <span class=\"xn-chron\">September 30, 2023<\/span>, mainly due to exits in RMB private equity investment products and exchange rate fluctuations affecting the value of overseas assets under management.<br \/>&nbsp;<br \/>Mainland <span class=\"xn-location\">China<\/span> assets under management as of <span class=\"xn-chron\">September 30, 2024<\/span>, were <span class=\"xn-money\">RMB110.6 billion<\/span> (<span class=\"xn-money\">US$15.8 billion<\/span>), compared with <span class=\"xn-money\">RMB119.5 billion<\/span> as of <span class=\"xn-chron\">September 30, 2023<\/span>, and <span class=\"xn-money\">RMB114.9 billion<\/span> as of <span class=\"xn-chron\">June 30, 2024<\/span>.<br \/>&nbsp;<br \/>Overseas assets under management as of <span class=\"xn-chron\">September 30, 2024<\/span>, were <span class=\"xn-money\">RMB39.5 billion<\/span> (<span class=\"xn-money\">US$5.6 billion<\/span>), compared with <span class=\"xn-money\">RM35.4 billion<\/span> as of <span class=\"xn-chron\">September 30, 2023<\/span>, and <span class=\"xn-money\">RMB39.1 billion<\/span> as of <span class=\"xn-chron\">June 30, 2024<\/span>.<\/li>\n<\/ul>\n<p><b>Total assets under management, categorized by investment type, are as follows:<\/b><\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"1.5\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Investment type<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>As of&nbsp;<br \/>June 30,&nbsp;<br \/>2024<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b><br \/>Growth<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b><br \/>Allocation\/<br \/>Redemption<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen15\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>As of<br \/>September 30,&nbsp;<br \/>2024<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen14\" colspan=\"11\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(RMB billions, except percentages)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Private equity<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">133.0<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">86.4&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.5<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3.4<sup><b> <b>[4]<\/b><\/b>&nbsp; <\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">130.1<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">86.7&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Public securities<sup><b><b>[5]<\/b><\/b><\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">10.4<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">6.7&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2.3<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2.8<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">9.9<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">6.6&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Real estate<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">5.8<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3.8&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.3<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">5.5<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3.7&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Multi-strategies<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">4.2<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2.7&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.1<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">4.1<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2.7&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Others<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.6<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.4&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.1<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.5<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.3&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>All Investments<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>154.0<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>100.0&nbsp;%<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2.8<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>6.7<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>150.1<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>100.0&nbsp;%<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p><b>Total assets under management, categorized by geography, are as follows:<\/b><\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"2.5\">\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Mainland China <br \/>Investment type<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"3\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>As of&nbsp;<br \/>June 30,&nbsp;<br \/>2024<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b><br \/>Growth<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Allocation\/<\/b><\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Redemption<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"3\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>As of<br \/>September 30,&nbsp;<br \/>2024<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen14\" colspan=\"11\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(RMB billions, except percentages)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Private equity<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">103.4<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">90.1&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3.3<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">100.1<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">90.5&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Public securities<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">6.0<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">5.2&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.5<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1.0<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">5.5<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">5.0&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Real estate<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2.4<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2.1&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.2<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2.2<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2.0&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Multi-strategies<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2.5<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2.1&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.2<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2.3<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2.0&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Others<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.6<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.5&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.1<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.5<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.5&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>All Investments<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>114.9<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>100.0&nbsp;%<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>0.5<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>4.8<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>110.6<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>100.0&nbsp;%<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"1.5\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Overseas<\/b><\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Investment type<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"3\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>As of&nbsp;<\/b><\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>June 30,&nbsp;<br \/>2024<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b><br \/>Growth<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Allocation\/<\/b><\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Redemption<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"3\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>As of<br \/>September 30,&nbsp;<br \/>2024<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen14\" colspan=\"11\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(RMB billions, except percentages)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Private equity<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">29.6<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">75.5&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.5<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.1<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">30.0<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">75.9&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Public securities<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">4.4<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">11.2&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1.8<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1.8<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">4.4<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">11.1&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Real estate<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3.4<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">8.7&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.1<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3.3<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">8.4&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Multi-strategies<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1.7<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">4.6&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(0.1)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1.8<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">4.6&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>All Investments<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>39.1<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>100.0&nbsp;%<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2.3<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>1.9<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>39.5<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>100.0&nbsp;%<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"9.5\">\n<tr readability=\"7.5\">\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\" readability=\"8\">\n<p class=\"prnml4\"><span class=\"prnews_span\">[1]&nbsp;Noah&#8217;s Non-GAAP financial measures are its corresponding GAAP financial measures excluding the effects of all forms of share-based compensation and net of relevant tax impact, if any. See &#8220;Reconciliation of GAAP to Non-GAAP Results&#8221; at the end of this press release.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">[2] &nbsp;&#8220;Active clients&#8221; for a given period refers to registered clients who purchase investment products distributed or receive services provided by the Company during that given period.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"7.5\">\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\" readability=\"8\">\n<p class=\"prnml4\"><span class=\"prnews_span\">[3] &nbsp;&#8220;Other products&#8221; refers to other investment products, which includes insurance products, multi-strategies products and others.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">[4] &nbsp;The asset allocation\/redemption of overseas investment products includes the fluctuation result of foreign currencies exchange rate.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">[5] &nbsp;The asset allocation\/redemption of public securities also includes market appreciation or depreciation.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p><b>Other Businesses<\/b><\/p>\n<p>Noah&#8217;s other businesses mainly include providing clients with additional comprehensive services and investment products. Operating results for other businesses also include headquarter rental income, depreciation and amortization, as well as operating expenses.<\/p>\n<p>Ms. <span class=\"xn-person\">Jingbo Wang<\/span>, co-founder and chairwoman of Noah, commented, &#8220;I&#8217;m pleased to report a significant sequential rebound in net revenues, operating margin, and net income as the pace of our overseas expansion gains momentum and client demand for global asset allocation strengthens. Net revenues from overseas grew by 28.9% year-over-year, bolstered by ongoing investments to expand our global footprint. Our team of relationship managers directly supporting this expansion grew to 146 professionals, an increase of 89.6% year-over-year and 29.2% sequentially. We also opened our <span class=\"xn-location\">Japan<\/span> office during the quarter to attract local Mandarin-speaking clients and are actively evaluating opportunities in other key potential markets such as <span class=\"xn-location\">Canada<\/span>, <span class=\"xn-location\">Australia<\/span>, <span class=\"xn-location\">Southeast Asia<\/span>, and <span class=\"xn-location\">Europe<\/span>, to capitalize on this momentum. While sluggish domestic markets continue to pose challenges, we are encouraged by initial signs of a recovery and improving client sentiment, driven by recent policies aimed at supporting the broader economy. We remain confident in the substantial potential for wealth management services tailored to global Mandarin-speaking high-net-worth investors, many of whom are currently underserved by local financial institutions. This presents us with significant opportunities to acquire new clients through our competitive global investment solutions and renowned service standards.&#8221; &nbsp;<\/p>\n<p><b>THIRD QUARTER 2024 FINANCIAL RESULTS<\/b><\/p>\n<p><b><i>Net Revenues<\/i><\/b><\/p>\n<p><b>Net revenues<\/b> for the third quarter of 2024 were <span class=\"xn-money\">RMB683<\/span>.7&nbsp;million (<span class=\"xn-money\">US$97<\/span>.4&nbsp;million), an 8.8% decrease from the corresponding period in 2023.<\/p>\n<ul type=\"disc\">\n<li><b>Wealth Management Business<\/b>\n<ul type=\"disc\">\n<li><b>Net revenues from one-time commissions<\/b> for the third quarter of 2024 were <span class=\"xn-money\">RMB175.1 million<\/span> (<span class=\"xn-money\">US$25.0 million<\/span>), an 11.8% decrease from the corresponding period in 2023, primarily due to a decrease in distribution of domestic insurance products.<\/li>\n<li><b>Net revenues from recurring service fees<\/b> for the third quarter of 2024 were <span class=\"xn-money\">RMB251.0 million<\/span> (<span class=\"xn-money\">US$35.8 million<\/span>), a 10.3% decrease from the corresponding period in 2023, primarily due to a decrease in recurring service fees from private secondary products and private equity products associated with the decrease in assets under management in mainland <span class=\"xn-location\">China<\/span>.<\/li>\n<li><b>Net revenues from performance-based income<\/b> for the third quarter of 2024 were <span class=\"xn-money\">RMB3.0 million<\/span> (<span class=\"xn-money\">US$0.4 million<\/span>), a 65.8% decrease from the corresponding period of 2023, primarily due to a decrease in performance-based income from private secondary products.<\/li>\n<li><b>Net revenues from other service fees<\/b> for the third quarter of 2024 were <span class=\"xn-money\">RMB35.9 million<\/span> (<span class=\"xn-money\">US$5.1 million<\/span>), a 41.7% decrease from the corresponding period in 2023, primarily due to a decrease in the value-added services offered to high-net-worth clients.<\/li>\n<\/ul>\n<\/li>\n<li><b>Asset Management Business<\/b>\n<ul type=\"disc\">\n<li><b>Net revenues from recurring service fees <\/b>for the third quarter of 2024 were <span class=\"xn-money\">RMB150.6 million<\/span> (<span class=\"xn-money\">US$21.5 million<\/span>), a 19.1% decrease from the corresponding period in 2023, primarily due to a decrease in recurring service fees generated from RMB private equity products.<\/li>\n<li><b>Net revenues from performance-based income <\/b>for the third quarter of 2024 were <span class=\"xn-money\">RMB58.0 million<\/span> (<span class=\"xn-money\">US$8.3 million<\/span>), a substantial increase from the corresponding period in 2023, primarily due to an increase in performance-based income realized from offshore private equity products.<\/li>\n<\/ul>\n<\/li>\n<li><b>Other<\/b><b> Businesses<\/b>\n<ul type=\"disc\">\n<li><b>Net revenues <\/b>for the third quarter of 2024 were <span class=\"xn-money\">RMB9.8 million<\/span> (<span class=\"xn-money\">US$1.4 million<\/span>), remaining flat compared with the corresponding period in 2023.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><b><i>Operating Costs and Expenses<\/i><\/b><\/p>\n<p><b>Operating<\/b><b>&nbsp;costs and<\/b><b>&nbsp;expenses<\/b>&nbsp;for the third quarter of 2024 were <span class=\"xn-money\">RMB442.9 million<\/span> (<span class=\"xn-money\">US$63.1 million<\/span>), an 11.6% decrease from the corresponding period in 2023. Operating costs and expenses primarily consisted of (i) compensation and benefits of <span class=\"xn-money\">RMB310.0 million<\/span> (<span class=\"xn-money\">US$44.2 million<\/span>); (ii) selling expenses of <span class=\"xn-money\">RMB65.9 million<\/span> (<span class=\"xn-money\">US$9.4 million<\/span>); (iii) general and administrative expenses of <span class=\"xn-money\">RMB72.3 million<\/span> (<span class=\"xn-money\">US$10.3 million<\/span>); (iv) provision for of credit losses of <span class=\"xn-money\">RMB5.4 million<\/span> (<span class=\"xn-money\">US$0.8 million<\/span>); and (v) other operating expenses of <span class=\"xn-money\">RMB12.9 million<\/span> (<span class=\"xn-money\">US$1.8 million<\/span>).<\/p>\n<ul type=\"disc\">\n<li><b>Operating costs and expenses<\/b> <b>for the wealth management business<\/b> for the third quarter of 2024 were <span class=\"xn-money\">RMB326.1 million<\/span> (<span class=\"xn-money\">US$46.5 million<\/span>), a 17.3% decrease from the corresponding period in 2023, primarily due to decreases of 23.5% in compensation and benefits and 48.6% in selling expenses.<\/li>\n<li><b>Operating costs and expenses<\/b> <b>for the asset management business<\/b> for the third quarter of 2024 were <span class=\"xn-money\">RMB86.4 million<\/span> (<span class=\"xn-money\">US$12.3 million<\/span>), a 1.8% increase from the corresponding period in 2023.<\/li>\n<li><b>Operating costs and expenses<\/b> <b>for other businesses<\/b> for the third quarter of 2024 were <span class=\"xn-money\">RMB30.4 million<\/span> (<span class=\"xn-money\">US$4.3 million<\/span>), compared with <span class=\"xn-money\">RMB21.9 million<\/span> from the corresponding period in 2023.<\/li>\n<\/ul>\n<p><b><i>Operating Margin<\/i><\/b><\/p>\n<p><b>Operating margin <\/b>for the third quarter of 2024 was 35.2%, compared with 33.2% for the corresponding period in 2023.<\/p>\n<ul type=\"disc\">\n<li><b>Operating margin for the wealth management business<\/b> for the third quarter of 2024 was 29.9%, compared with 28.2% for the corresponding period in 2023.<\/li>\n<li><b>Operating margin<\/b> <b>for the asset management business<\/b> for the third quarter of 2024 was 58.6%, compared with 55.6% for the corresponding period in 2023.<\/li>\n<li><b>Loss from operation for <\/b><b>other businesses<\/b> for the third quarter of 2024 was <span class=\"xn-money\">RMB20.6 million<\/span> (<span class=\"xn-money\">US$2.9 million<\/span>), compared with an operating loss of <span class=\"xn-money\">RMB12.1 million<\/span> for the corresponding period in 2023.<\/li>\n<\/ul>\n<p><b><i>Interest Income<\/i><\/b><\/p>\n<p><b>Interest income<\/b> for the third quarter of 2024 was <span class=\"xn-money\">RMB28.4 million<\/span> (<span class=\"xn-money\">US$4.0 million<\/span>),&nbsp;a 34.6% decrease from the corresponding period in 2023.<\/p>\n<p><b><i>Investment Income<\/i><\/b><\/p>\n<p><b>Investment income<\/b> for the third quarter of 2024 was <span class=\"xn-money\">RMB16.3 million<\/span> (<span class=\"xn-money\">US$2.3 million<\/span>),&nbsp;compared with <span class=\"xn-money\">RMB9.6 million<\/span> for the corresponding period in 2023.<\/p>\n<p><b><i>Income Tax Expenses<\/i><\/b><\/p>\n<p><b>Income tax expense<\/b><b>s<\/b>&nbsp;for the third quarter of 2024 were <span class=\"xn-money\">RMB89.0 million<\/span> (<span class=\"xn-money\">US$12.7 million<\/span>), a 30.0% increase from the corresponding period in 2023, primarily due to an&nbsp;increase in income tax expenses associated with a dividend withholding tax for offshore dividend payments from PRC subsidiaries.<\/p>\n<p><b><i>Net Income<\/i><\/b><\/p>\n<ul type=\"disc\">\n<li><b>Net Income<\/b>\n<ul type=\"disc\">\n<li><b>Net income <\/b>for the third quarter of 2024 was <span class=\"xn-money\">RMB137.8 million<\/span> (<span class=\"xn-money\">US$19.6 million<\/span>), a 40.6% decrease from the corresponding period in 2023.<\/li>\n<li><b>Net margin <\/b>for the third quarter of 2024 was 20.2%, compared with 30.9% for the corresponding period in 2023.<\/li>\n<li><b>Net income attributable to Noah shareholders <\/b>for the third quarter of 2024 was <span class=\"xn-money\">RMB134.4 million<\/span> (<span class=\"xn-money\">US$19.2 million<\/span>), a 42.4% decrease from the corresponding period in 2023.<\/li>\n<li><b>Net margin attributable to Noah shareholders <\/b>for the third quarter of 2024 was 19.7%, compared with 31.1% for the corresponding period in 2023.<\/li>\n<li><b>Net income attributable to Noah shareholders per basic and diluted ADS<\/b> for the third quarter of 2024 was <span class=\"xn-money\">RMB1.91<\/span> <span class=\"xn-money\">(US$0.27)<\/span> and <span class=\"xn-money\">RMB1.91<\/span> <span class=\"xn-money\">(US$0.27)<\/span>, respectively, compared with <span class=\"xn-money\">RMB3.36<\/span> and <span class=\"xn-money\">RMB3.36<\/span> respectively, for the corresponding period in 2023.<\/li>\n<\/ul>\n<\/li>\n<li><b>Non-GAAP Net Income Attributable to Noah Shareholders <\/b>\n<ul type=\"disc\">\n<li><b>Non-GAAP net income attributable to Noah shareholders <\/b>for the third quarter of 2024 was <span class=\"xn-money\">RMB150.5 million<\/span> (<span class=\"xn-money\">US$21.4 million<\/span>), a 35.2% decrease from the corresponding period in 2023.<\/li>\n<li><b>Non-GAAP net margin attributable to Noah shareholders <\/b>for the third quarter of 2024 was 22.0%, compared with 31.0% for the corresponding period in 2023.<\/li>\n<li><b>Non-GAAP net income attributable to Noah shareholders per diluted ADS <\/b>for the third quarter of 2024 was <span class=\"xn-money\">RMB2.14<\/span> <span class=\"xn-money\">(US$0.30)<\/span>, down from <span class=\"xn-money\">RMB3.35<\/span> for the corresponding period in 2023.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><b><i>Balance Sheet and Cash Flow<\/i><\/b><\/p>\n<p>As of <span class=\"xn-chron\">September 30, 2024<\/span>, the Company had <span class=\"xn-money\">RMB3,435.8 million<\/span> (<span class=\"xn-money\">US$489.6 million<\/span>)&nbsp;in cash and cash equivalents, compared with <span class=\"xn-money\">RMB4,604<\/span>.9&nbsp;million as of <span class=\"xn-chron\">June 30<\/span>, 2024&nbsp;and <span class=\"xn-money\">RMB4,959.6 million<\/span> as of <span class=\"xn-chron\">September 30, 2023<\/span>. The sequential decrease in cash and cash equivalents was primarily due to the payment of dividends in the amount of <span class=\"xn-money\">RMB1,007.9 million<\/span> (<span class=\"xn-money\">US$143.6 million<\/span>) to shareholders and a reclassification of a short-term time deposit in the amount of <span class=\"xn-money\">RMB252.7 million<\/span> (<span class=\"xn-money\">US$36.0 million<\/span>) from cash and cash equivalents to short-term investments.<\/p>\n<p>Net cash inflow from the Company&#8217;s operating activities during the third quarter of 2024 was <span class=\"xn-money\">RMB237.2 million<\/span> (<span class=\"xn-money\">US$33.8 million<\/span>), mainly due to cash inflow generated from net income from operations.<\/p>\n<p>Net cash outflow from the Company&#8217;s investing activities during the third quarter of 2024 was <span class=\"xn-money\">RMB53.7 million<\/span> (<span class=\"xn-money\">US$7.7 million<\/span>),&nbsp;mainly due to cash used for long-term investments.<\/p>\n<p>Net cash outflow from the Company&#8217;s financing activities was <span class=\"xn-money\">RMB1,010.8 million<\/span> (<span class=\"xn-money\">US$144.0 million<\/span>) in the third quarter of 2024, primarily due to payment of the final dividend to the Company&#8217;s shareholders.<\/p>\n<p><b>CONFERENCE CALL <\/b><\/p>\n<p>The Company&#8217;s senior management will host an earnings conference call to discuss its Q3 Results and recent business activities. Details of the conference call are as follows:<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"9.5\">\n<tr readability=\"4.5\">\n<td class=\"prngen2\" colspan=\"4\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Conference title:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Noah Holdings 3Q24 Earnings Conference Call<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"19\">\n<td class=\"prngen2\" colspan=\"4\" rowspan=\"1\" readability=\"17\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Date\/Time:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tuesday, November 26, 2024, at 7:00 p.m., U.S. Eastern Time<\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wednesday, November 27, 2024, at 8:00 a.m., Hong Kong Time<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Dial in:<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2013 Hong Kong Toll Free:<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">800-963976<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2013 United States Toll Free:<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1-888-317-6003<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2013 Mainland China Toll Free:<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">4001-206115<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2013 International Toll:<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1-412-317-6061<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Participant Password:<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">5468333<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p>A telephone replay will be available starting approximately one hour after the end of the conference until <span class=\"xn-chron\">December 3, 2024<\/span> at 1-877-344-7529 (US Toll Free) and 1-412-317-0088 (International Toll) with the access code 6914431.<\/p>\n<p>A live and archived webcast of the conference call will be available at the Company&#8217;s investor relations website under the &#8220;News &amp; Events&#8221; section at <a href=\"http:\/\/ir.noahgroup.com\/\" target=\"_blank\" rel=\"nofollow noopener\">http:\/\/ir.noahgroup.com<\/a>.<\/p>\n<p><b>DISCUSSION OF NON-GAAP MEASURES&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/b><\/p>\n<p>In addition to disclosing financial results prepared in accordance with U.S. GAAP, the Company&#8217;s earnings release contains non-GAAP financial measures excluding the effects of all forms of share-based compensation and net of tax impact, if any. See &#8220;Reconciliation of GAAP to Non-GAAP Results&#8221; at the end of this press release.<\/p>\n<p>The non-GAAP financial measures disclosed by the Company should not be considered a substitute for financial measures prepared in accordance with U.S. GAAP. The financial results reported in accordance with U.S. GAAP and reconciliation of GAAP to non-GAAP results should be carefully evaluated. The non-GAAP financial measures used by the Company may be prepared differently from and, therefore, may not be comparable to similarly titled measures used by other companies.<\/p>\n<p>When evaluating the Company&#8217;s operating performance in the periods presented, management reviewed the foregoing non-GAAP net income attributable to Noah shareholders and per diluted ADS and non-GAAP net margin attributable to Noah shareholders to supplement U.S. GAAP financial data. As such, the Company&#8217;s management believes that the presentation of the non-GAAP financial measures provides important supplemental information to investors regarding financial and business trends relating to its results of operations in a manner consistent with that used by management.&nbsp;<\/p>\n<p><b>ABOUT NOAH HOLDINGS LIMITED<\/b><\/p>\n<p>Noah Holdings Limited (NYSE: NOAH and HKEX: 6686) is a leading and pioneer wealth management service provider offering comprehensive one-stop advisory services on global investment and asset allocation primarily for mandarin-speaking high-net-worth investors. Noah&#8217;s American depositary shares, or ADSs, are listed on the New York Stock Exchange under the symbol &#8220;NOAH&#8221;, and its shares are listed on the main board of the Hong Kong Stock Exchange under the stock code &#8220;6686.&#8221; One ADS represents five ordinary shares, par value <span class=\"xn-money\">$0.00005<\/span> per share.<\/p>\n<p>In the first nine months of 2024, Noah distributed <span class=\"xn-money\">RMB47.6 billion<\/span> (<span class=\"xn-money\">US$6.8 billion<\/span>) of investment products. Through Gopher Asset Management and Olive Asset Management, Noah had assets under management of <span class=\"xn-money\">RMB150.1 billion<\/span> (<span class=\"xn-money\">US$21.4 billion<\/span>) as&nbsp;of <span class=\"xn-chron\">September 30, 2024<\/span>.<\/p>\n<p>Noah&#8217;s wealth management business primarily distributes private equity, public securities and insurance products denominated in RMB and other currencies. Noah&#8217;s network covers major cities in mainland <span class=\"xn-location\">China<\/span>, as well as <span class=\"xn-location\">Hong Kong<\/span> (<span class=\"xn-location\">China<\/span>), <span class=\"xn-location\">New York<\/span>, Silicon Valley, <span class=\"xn-location\">Singapore<\/span>, and <span class=\"xn-location\">Los Angeles<\/span>. The Company&#8217;s wealth management business had 460,380 registered clients as of <span class=\"xn-chron\">September 30, 2024<\/span>. Through Gopher Asset Management&nbsp;and Olive Asset Management, Noah manages private equity, public securities, real estate,&nbsp;multi-strategy and other investments denominated in RMB and other currencies. The Company also operates other services.<\/p>\n<p>For more information, please visit Noah at <i>ir.noahgroup.com<\/i>.<\/p>\n<p><b>FOREIGN CURRENCY TRANSLATION<\/b><\/p>\n<p>In this announcement, the unaudited financial results for the third quarter of 2024 ended <span class=\"xn-chron\">September 30, 2024<\/span> are stated in RMB. This announcement contains currency conversions of certain RMB amounts into US$ at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to US$ are made at a rate of <span class=\"xn-money\">RMB7.0176<\/span> to <span class=\"xn-money\">US$1.00<\/span>, the effective noon buying rate for <span class=\"xn-chron\">September 30, 2024<\/span> as set forth in the H.10 statistical release of the Federal Reserve Board.<\/p>\n<p><b>SAFE HARBOR STATEMENT <\/b><\/p>\n<p>This announcement contains forward-looking statements. These statements are made under the &#8220;safe harbor&#8221; provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as &#8220;will,&#8221; &#8220;expects,&#8221; &#8220;anticipates,&#8221; &#8220;future,&#8221; &#8220;intends,&#8221; &#8220;plans,&#8221; &#8220;believes,&#8221; &#8220;estimates,&#8221; &#8220;confident&#8221; and similar statements. Noah may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in announcements, circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the &#8220;Hong Kong Stock Exchange&#8221;), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Noah&#8217;s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. These statements include, but are not limited to, estimates regarding the sufficiency of Noah&#8217;s cash and cash equivalents and liquidity risk. A number of factors could cause Noah&#8217;s actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: its goals and strategies; its future business development, financial condition and results of operations; the expected growth of the wealth management and asset management market in <span class=\"xn-location\">China<\/span> and internationally; its expectations regarding demand for and market acceptance of the products it distributes; investment risks associated with investment products distributed to Noah&#8217;s investors, including the risk of default by counterparties or loss of value due to market or business conditions or misconduct by counterparties; its expectations regarding keeping and strengthening its relationships with key clients; relevant government policies and regulations relating to its industries; its ability to attract and retain qualified employees; its ability to stay abreast of market trends and technological advances; its plans to invest in research and development to enhance its product choices and service offerings; competition in its industries in <span class=\"xn-location\">China<\/span> and internationally; general economic and business conditions in <span class=\"xn-location\">China<\/span>; and its ability to effectively protect its intellectual property rights and not to infringe on the intellectual property rights of others. Further information regarding these and other risks is included in Noah&#8217;s filings with the U.S. Securities and Exchange Commission and the Hong Kong Stock Exchange. All information provided in this press release and in the attachments is as of the date of this press release, and Noah does not undertake any obligation to update any such information, including forward-looking statements, as a result of new information, future events or otherwise, except as required under the applicable law.<\/p>\n<p class=\"prntac\">&#8212; FINANCIAL AND OPERATIONAL TABLES FOLLOW \u2013<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"15\">\n<tr>\n<td class=\"prngen14\" colspan=\"9\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Noah Holdings Limited&nbsp;<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen14\" colspan=\"9\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Condensed Consolidated Balance Sheets<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"9\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(unaudited)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"prngen14\" colspan=\"6\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">As of<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">June 30,<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">September&nbsp;30,&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen14\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">September&nbsp;30,&nbsp;<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2024<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2024<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2024<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">RMB&#8217;000<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">RMB&#8217;000<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen14\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">USD&#8217;000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"3\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Assets<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Current assets:<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Cash and cash equivalents<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">4,604,946<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3,435,758<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">489,592<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Restricted cash<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">4,574<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">5,786<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">824<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Short-term investments <\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1,287,400<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1,297,914<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">184,951<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Accounts receivable, net <\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">429,417<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">460,076<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">65,560<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Amounts due from related parties<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">444,937<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">468,264<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">66,727<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Loans receivable, net<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">207,122<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">179,089<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">25,520<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other current assets&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">226,332<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">246,451<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">35,120<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total current assets&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">7,204,728<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">6,093,338<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">868,294<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Long-term investments, net <\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">742,322<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">960,572<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">136,880<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Investment in affiliates<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1,445,356<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1,404,501<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">200,140<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Property and equipment, net<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2,416,072<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2,395,438<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">341,347<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Operating lease right-of-use assets, net<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">102,301<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">121,435<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">17,304<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Deferred tax assets<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">400,401<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">400,447<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">57,063<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other non-current assets&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">155,825<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">145,394<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">20,718<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"3\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Total Assets<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">12,467,005<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">11,521,125<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen11\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1,641,746<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"3\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Liabilities and Equity<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Current liabilities:<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Accrued payroll and welfare expenses&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">346,543<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">270,282<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">38,515<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Income tax payable<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">76,318<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">130,136<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">18,544<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Deferred revenues<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">73,857<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">76,867<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">10,953<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Dividend payable<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1,018,000<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Contingent liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">475,777<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">459,436<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">65,469<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other current liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">420,527<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">437,260<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">62,309<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total current liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2,411,022<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1,373,981<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">195,790<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Deferred tax liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">245,609<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">243,466<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">34,694<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Operating lease liabilities, non-current<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">55,043<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">77,652<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">11,065<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other non-current liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">24,980<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">22,985<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3,275<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Total Liabilities&nbsp;<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2,736,654<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1,718,084<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">244,824<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Equity<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">9,730,351<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">9,803,041<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1,396,922<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"3\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Total Liabilities and Equity<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">12,467,005<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">11,521,125<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen9\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1,641,746<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"20\">\n<tr>\n<td class=\"prngen14\" colspan=\"14\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Noah Holdings Limited<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen14\" colspan=\"14\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Condensed Consolidated Income Statements<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"6\">\n<td class=\"prngen14\" colspan=\"14\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"7\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(In RMB&#8217;000, except for ADS data, per ADS data and percentages)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"14\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(unaudited)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen14\" colspan=\"13\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Three months ended&nbsp;<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">September 30,<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">September 30,<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">September 30,<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen14\" colspan=\"4\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Change<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2023<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2024<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen13\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2024<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen6\" colspan=\"4\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Revenues:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">RMB&#8217;000<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">RMB&#8217;000<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen14\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">USD&#8217;000<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"4\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Revenues from others:<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"4\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\"><span class=\"prnews_span\">One-time commissions<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">199,286<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">170,023<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">24,228<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(14.7&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Recurring service fees<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">171,408<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">166,138<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">23,674<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(3.1&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Performance-based income<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">8,440<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2,974<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">424<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(64.8&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Other service fees<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">74,355<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">48,764<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen6\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">6,949<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen7\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(34.4&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total revenues from others<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">453,489<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">387,899<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen6\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">55,275<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen7\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(14.5&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Revenues from funds Gopher <br \/>&nbsp; &nbsp; &nbsp;manages:<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\"><span class=\"prnews_span\">One-time commissions<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">32<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">6,014<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">857<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">18693.8&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Recurring service fees<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">295,982<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">236,638<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">33,721<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(20.0&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Performance-based income<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">5,543<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">58,151<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen6\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">8,286<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen7\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">949.1&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total revenues from funds <br \/>&nbsp; &nbsp; &nbsp;Gopher manages<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">301,557<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">300,803<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen6\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">42,864<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen7\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">(0.3&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total revenues<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">755,046<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">688,702<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">98,139<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(8.8&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Less: VAT related surcharges&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(5,088)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(5,016)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen12\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(715)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen7\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(1.4&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Net revenues<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">749,958<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">683,686<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen6\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">97,424<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen7\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(8.8&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Operating costs and expenses:<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Compensation and benefits<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Relationship managers<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(185,748)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(137,082)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(19,534)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(26.2&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Others<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(215,047)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(172,902)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen12\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(24,639)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen7\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(19.6&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Total compensation and <br \/>&nbsp; &nbsp; &nbsp;benefits<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(400,795)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(309,984)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(44,173)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(22.7&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Selling expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(119,707)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(65,939)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(9,396)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(44.9&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">General and administrative <br \/>&nbsp; &nbsp; expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(67,407)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(72,250)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(10,296)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">7.2&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Reversal of (Provision for) <br \/>&nbsp; &nbsp; &nbsp;credit losses<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">525<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">(5,416)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">(772)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;<\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">N.A.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Other operating expenses&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(18,982)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(12,859)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(1,832)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(32.3&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Government subsidies&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">105,297<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">23,576<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen6\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3,360<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen7\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(77.6&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total operating costs and <br \/>&nbsp; &nbsp; &nbsp; expenses&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">(501,069)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">(442,872)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen12\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">(63,109)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen7\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">(11.6&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Income from operations&nbsp;<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">248,889<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">240,814<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen6\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">34,315<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen7\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(3.2&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other income:<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Interest income&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">43,465<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">28,416<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">4,049<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(34.6&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Investment income<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">9,640<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">16,334<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2,328<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">69.4&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Other income (expenses)<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2,446<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(43,577)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen12\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(6,210)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen7\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">N.A.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total other income <\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">55,551<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1,173<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen6\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">167<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen7\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(97.9&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Income before taxes and <br \/>&nbsp; &nbsp; &nbsp;income from equity in <br \/>&nbsp; &nbsp; &nbsp;affiliates<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">304,440<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">241,987<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">34,482<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(20.5&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Income tax expense<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(68,499)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(89,036)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(12,688)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">30.0&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Loss from equity in affiliates<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(3,897)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(15,184)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen12\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(2,164)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen7\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">289.6&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Net income<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">232,044<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">137,767<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">19,630<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(40.6&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Less: net (loss) gain <br \/>&nbsp; &nbsp; &nbsp;attributable to non-controlling <br \/>&nbsp; &nbsp; &nbsp;interests<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">(1,282)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prnpr10 prnpl11 prnvab prntar prnsbtb1 prnrbrb1 prnbbbs prnsblb1\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">3,351<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen6\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">478<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen7\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;<\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">N.A.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Net income attributable to <br \/>&nbsp; &nbsp; &nbsp;Noah shareholders&nbsp;<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">233,326<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">134,416<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen8\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">19,152<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen9\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(42.4&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Income per ADS, basic<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3.36<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1.91<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.27<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(43.2&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Income per ADS, diluted<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3.36<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1.91<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.27<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(43.2&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;<\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Margin analysis:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Operating margin<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">33.2&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">35.2&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">35.2&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Net margin<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">30.9&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">20.2&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">20.2&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;<\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">Weighted average ADS <br \/>equivalent<sup>[1]<\/sup>:<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Basic<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">69,472,282<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">70,334,784<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">70,334,784<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Diluted<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">69,485,287<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">70,396,502<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">70,396,502<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">ADS equivalent outstanding at <br \/>&nbsp; &nbsp; &nbsp;end of period<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">63,154,215<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">65,824,608<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">65,824,608<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"1.5\">\n<tr readability=\"4.5\">\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">[1] Assumes all outstanding ordinary shares are represented by ADSs. Five ordinary share represents one ADS.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"6.5\">\n<tr readability=\"2\">\n<td class=\"prngen14\" colspan=\"9\" rowspan=\"1\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Noah Holdings Limited&nbsp;<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen14\" colspan=\"9\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Condensed Comprehensive Income Statements&nbsp;<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"9\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(unaudited)<\/b><\/span><\/p>\n<p class=\"prnml4\">&nbsp;<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen14\" colspan=\"5\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Three months ended&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">September 30,<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">September 30,<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">September 30,<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Change<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2023<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2024<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2024<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">RMB&#8217;000<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">RMB&#8217;000<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">USD&#8217;000<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Net income<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">232,044<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">137,767<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">19,630<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(40.6&nbsp;%)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other comprehensive income, net <br \/>of tax:<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Foreign currency translation <br \/>adjustments<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;&nbsp;&nbsp; <\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">21,405<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;&nbsp;&nbsp; <\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">(92,022)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(13,113)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">N.A.<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Comprehensive income<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>253,449<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>45,745<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>6,517<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(82.0&nbsp;%)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp; &nbsp; &nbsp;Less: Comprehensive (loss) <br \/>in<b>com<\/b>e attributable to non-<br \/>controlling interests<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">(1,169)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">4,822<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">687<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">N.A.<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Comprehensive income <br \/>&nbsp; &nbsp; &nbsp;attributable to Noah <br \/><\/b><b>&nbsp; &nbsp; &nbsp;s<\/b><b>hareholders<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>254,618<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>40,923<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>5,830<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(83.9&nbsp;%)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"5.5\">\n<tr>\n<td class=\"prngen14\" colspan=\"6\" rowspan=\"1\">\n<p class=\"prngen36\"><span class=\"prnews_span\">Noah Holdings Limited&nbsp;<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen14\" colspan=\"6\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Supplemental Information&nbsp;<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"6\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(unaudited)<\/b><\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen14\" colspan=\"3\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">As of&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">September 30,&nbsp;<br \/>2023<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">September 30,&nbsp;<br \/>2024<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Change<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Number of registered clients&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">452,222<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">460,380<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1.8&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen14\" colspan=\"3\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Three months ended&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">September 30, <br \/>2023<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">September 30,&nbsp;<br \/>2024<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Change<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen14\" colspan=\"5\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(in millions of RMB, except number of active clients and percentages)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Number of active clients<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">9,489<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">7,857<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(17.2&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Transaction value:&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Private equity products&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">693<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1,070<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">54.3&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Private secondary products<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">5,670<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3,560<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(37.2&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Mutual fund products&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">14,929<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">8,651<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(42.1&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Other products<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1,024<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">977<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(4.5&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Total transaction value<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>22,316<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>14,258<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(36.1&nbsp;%)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"15.5\">\n<tr>\n<td class=\"prngen14\" colspan=\"9\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Noah Holdings Limited&nbsp;<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen14\" colspan=\"9\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Segment Condensed Income Statements&nbsp;<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"9\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(unaudited)&nbsp;<\/b><\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\" colspan=\"8\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen14\" colspan=\"8\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Three months ended September 30, 2024<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"6\">\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Wealth&nbsp;<br \/>Management<br \/>Business<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Asset&nbsp;<br \/>Management<br \/>Business<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other&nbsp;<br \/>Businesses<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">RMB&#8217;000<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">RMB&#8217;000<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">RMB&#8217;000<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen14\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">RMB&#8217;000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml40\"><span class=\"prnews_span\"><b>Revenues:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml50\"><span class=\"prnews_span\">Revenues from others<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml50\"><span class=\"prnews_span\">One-time commissions<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">170,023<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">170,023<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml50\"><span class=\"prnews_span\">Recurring service fees<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">166,138<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">166,138<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml50\"><span class=\"prnews_span\">Performance-based income<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2,974<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2,974<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml50\"><span class=\"prnews_span\">Other service fees<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">36,087<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">12,677<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen24\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">48,764<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml50\"><span class=\"prnews_span\">Total revenues from others<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">375,222<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">12,677<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen24\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">387,899<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml50\"><span class=\"prnews_span\">Revenues from funds Gopher <br \/>&nbsp; &nbsp; &nbsp;manages<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml50\"><span class=\"prnews_span\">One-time commissions<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">5,776<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">238<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">6,014<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml50\"><span class=\"prnews_span\">Recurring service fees<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">85,850<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">150,788<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">236,638<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml50\"><span class=\"prnews_span\">Performance-based income<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">50<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">58,101<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">58,151<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml50\"><span class=\"prnews_span\">Total revenues from funds Gopher <br \/>&nbsp; &nbsp; &nbsp;manages<\/span><\/p>\n<\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">91,676<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">209,127<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen25\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">300,803<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml40\"><span class=\"prnews_span\">Total revenues<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">466,898<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">209,127<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">12,677<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">688,702<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml50\"><span class=\"prnews_span\">Less: VAT related surcharges&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(1,881)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(208)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(2,927)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(5,016)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml40\"><span class=\"prnews_span\"><b>Net revenues<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">465,017<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">208,919<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">9,750<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen25\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">683,686<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml40\"><span class=\"prnews_span\">Operating costs and expenses:<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml60\"><span class=\"prnews_span\">Compensation and benefits<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml80\"><span class=\"prnews_span\">Relationship managers<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(129,395)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(7,687)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(137,082)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml80\"><span class=\"prnews_span\">Others<\/span><\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(118,388)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(47,556)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(6,958)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(172,902)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml60\"><span class=\"prnews_span\">Total compensation and benefits<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(247,783)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(55,243)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(6,958)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(309,984)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml60\"><span class=\"prnews_span\">Selling expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(48,392)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(11,704)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(5,843)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(65,939)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml60\"><span class=\"prnews_span\">General and administrative <br \/>&nbsp; &nbsp; &nbsp;expenses&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">(45,766)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">(17,500)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">(8,984)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">(72,250)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml60\"><span class=\"prnews_span\">Provision for credit losses<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(1,758)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(2,203)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(1,455)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(5,416)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml60\"><span class=\"prnews_span\">Other operating expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(5,708)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(22)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(7,129)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(12,859)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml60\"><span class=\"prnews_span\">Government subsidies&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">23,350<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">226<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen24\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">23,576<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml40\"><span class=\"prnews_span\">Total operating costs and expenses&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(326,057)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(86,446)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(30,369)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(442,872)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml40\"><span class=\"prnews_span\"><b>Income (loss) from operations<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">138,960<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">122,473<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(20,619)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen24\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">240,814<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"15.5\">\n<tr>\n<td class=\"prngen14\" colspan=\"9\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Noah Holdings Limited&nbsp;<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen14\" colspan=\"9\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Segment Condensed Income Statements&nbsp;<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"9\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(unaudited)&nbsp;<\/b><\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\" colspan=\"8\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen14\" colspan=\"8\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Three months ended September 30, 2023<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"6\">\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Wealth&nbsp;<br \/>Management<br \/>Business<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Asset&nbsp;<br \/>Management<br \/>Business<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other&nbsp;<br \/>Businesses<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">RMB&#8217;000<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">RMB&#8217;000<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">RMB&#8217;000<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">RMB&#8217;000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml40\"><span class=\"prnews_span\"><b>Revenues:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml50\"><span class=\"prnews_span\">Revenues from others<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml50\"><span class=\"prnews_span\">One-time commissions<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">199,286<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">199,286<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml50\"><span class=\"prnews_span\">Recurring service fees<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">171,408<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">171,408<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml50\"><span class=\"prnews_span\">Performance-based income<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">8,440<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">8,440<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml50\"><span class=\"prnews_span\">Other service fees<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">61,915<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">12,440<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen24\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">74,355<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml50\"><span class=\"prnews_span\">Total revenues from others<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">441,049<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">12,440<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen24\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">453,489<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml50\"><span class=\"prnews_span\">Revenues from funds Gopher <br \/>&nbsp; &nbsp; &nbsp;manages<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml50\"><span class=\"prnews_span\">One-time commissions<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">32<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">32<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml50\"><span class=\"prnews_span\">Recurring service fees<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">109,368<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">186,614<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">295,982<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml50\"><span class=\"prnews_span\">Performance-based income<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">405<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">5,138<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">5,543<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml50\"><span class=\"prnews_span\">Total revenues from funds Gopher <br \/>&nbsp; &nbsp; &nbsp;manages<\/span><\/p>\n<\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">109,773<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">191,784<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen25\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">301,557<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml40\"><span class=\"prnews_span\">Total revenues<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">550,822<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">191,784<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">12,440<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">755,046<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml50\"><span class=\"prnews_span\">Less: VAT related surcharges&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(2,074)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(389)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(2,625)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(5,088)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml40\"><span class=\"prnews_span\"><b>Net revenues<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">548,748<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">191,395<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">9,815<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen25\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">749,958<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml40\"><span class=\"prnews_span\">Operating costs and expenses:<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml60\"><span class=\"prnews_span\">Compensation and benefits<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml80\"><span class=\"prnews_span\">Relationship managers<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(179,854)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(5,894)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(185,748)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml80\"><span class=\"prnews_span\">Others<\/span><\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(144,256)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(64,041)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(6,750)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(215,047)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml60\"><span class=\"prnews_span\">Total compensation and benefits<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(324,110)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(69,935)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(6,750)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(400,795)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml60\"><span class=\"prnews_span\">Selling expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(94,088)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(18,723)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(6,896)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(119,707)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml60\"><span class=\"prnews_span\">General and administrative <br \/>&nbsp; &nbsp; &nbsp;expenses&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">(53,401)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">(9,217)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">(4,789)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">(67,407)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml60\"><span class=\"prnews_span\">(Provision for) reversal of credit <br \/>&nbsp; &nbsp; &nbsp;losses<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">(894)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">(400)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">1,819<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">525<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml60\"><span class=\"prnews_span\">Other operating expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(11,677)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(298)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(7,007)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(18,982)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml60\"><span class=\"prnews_span\">Government subsidies&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">89,925<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">13,656<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1,716<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen24\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">105,297<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml40\"><span class=\"prnews_span\">Total operating costs and expenses&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(394,245)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(84,917)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(21,907)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(501,069)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml40\"><span class=\"prnews_span\"><b>Income (loss) from operations<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">154,503<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">106,478<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(12,092)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen24\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">248,889<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"8\">\n<tr readability=\"3\">\n<td class=\"prngen14\" colspan=\"8\" rowspan=\"1\" readability=\"5\">\n<p class=\"prngen36\"><span class=\"prnews_span\"><b>Noah Holdings Limited<\/b><\/span><\/p>\n<p class=\"prngen36\"><span class=\"prnews_span\"><b>Supplement Revenue Information by Geography<\/b><\/span><\/p>\n<p class=\"prngen36\"><span class=\"prnews_span\"><b>(unaudited)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"7\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen14\" colspan=\"7\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Three months ended September 30, 2024<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"6\">\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Wealth&nbsp;<br \/>Management<br \/>Business<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Asset&nbsp;<br \/>Management<br \/>Business<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other <br \/>Businesses<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">RMB&#8217;000<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">RMB&#8217;000<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">RMB&#8217;000<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">RMB&#8217;000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Revenues:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Mainland China<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">225,569<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">73,589<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">12,677<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">311,835<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Overseas<\/span><\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">241,329<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">135,538<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">376,867<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Total revenues<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">466,898<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">209,127<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">12,677<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">688,702<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"7\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"7\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen14\" colspan=\"7\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Three months ended September 30, 2023<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"6\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Wealth&nbsp;<br \/>Management<br \/>Business<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Asset&nbsp;<br \/>Management<br \/>Business<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other <br \/>Businesses<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">RMB&#8217;000<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">RMB&#8217;000<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">RMB&#8217;000<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">RMB&#8217;000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Revenues:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Mainland China<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">333,911<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">116,355<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">12,440<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">462,706<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Overseas<\/span><\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">216,911<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">75,429<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">292,340<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Total revenues<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">550,822<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">191,784<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">12,440<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">755,046<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"3.5\">\n<tr>\n<td class=\"prngen14\" colspan=\"8\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Noah Holdings Limited<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen14\" colspan=\"8\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Supplement Revenue Information by Product Types<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"8\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(unaudited)&nbsp;<\/b><\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\"><\/td>\n<td class=\"prngen14\" colspan=\"3\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Three months ended&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">September 30, <br \/>2023<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">September 30,&nbsp;<br \/>2024<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Change<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\"><\/td>\n<td class=\"prngen14\" colspan=\"6\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(in thousands of RMB, except percentages)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen22\" colspan=\"2\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Mainland China:&nbsp;<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen21\" colspan=\"2\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Public securities <br \/>products&nbsp;[1]<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">137,967<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">108,038<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(21.7&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Private equity products<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">218,502<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">180,636<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(17.3&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Insurance products<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">85,445<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">8,617<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(89.9&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Others<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">20,792<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">14,544<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(30.1&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Subtotal<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>462,706<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>311,835<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(32.6&nbsp;%)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen22\" colspan=\"2\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Overseas:&nbsp;<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Investment products [2]<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">134,209<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">191,200<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">42.5&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Insurance products<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">101,754<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">144,942<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">42.4&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Online business [3]<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2,706<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">7,865<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">190.7&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Others<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">53,671<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">32,860<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(38.8&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml20\"><span class=\"prnews_span\">Subtotal<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>292,340<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>376,867<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen7\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>28.9&nbsp;%<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Total revenues<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>755,046<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>688,702<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(8.8&nbsp;%)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"6\">\n<tr readability=\"3\">\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">[1] Includes mutual funds and private secondary products.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"10.5\">\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\" readability=\"10\">\n<p class=\"prnml4\"><span class=\"prnews_span\">[2] Includes non-money market mutual fund products, discretionary products, private secondary <br \/>products, private equity products, real estate products and private credit products.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">[3] Includes money market mutual fund products, securities brokerage business.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"8.5\">\n<tr>\n<td class=\"prngen14\" colspan=\"7\" rowspan=\"1\" nowrap=\"nowrap\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Noah Holdings Limited<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen14\" colspan=\"7\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Supplement Information of Overseas Business<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"7\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;(unaudited) <\/b><\/span><\/p>\n<p class=\"prnml4\">&nbsp;<\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen14\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Three months ended&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">September 30, <br \/>2023<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">September 30,&nbsp;<br \/>2024<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen15\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Change<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"6\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Net Revenues from Overseas <br \/>(RMB, million)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">292.3<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">376.9<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">28.9&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Number of Overseas <br \/>&nbsp; &nbsp; &nbsp;Registered Clients<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">14,296<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">17,287<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">20.9&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Number of Overseas Active <br \/>&nbsp; &nbsp; &nbsp;Clients<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">2,284<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">3,139<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">37.4&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Transaction Value of <br \/>&nbsp; &nbsp; &nbsp;Overseas Investment <br \/>&nbsp; &nbsp; &nbsp;Products (RMB, billion)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">7.0<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">7.8<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">11.4&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Number of Overseas <br \/>&nbsp; &nbsp; &nbsp;Relationship Managers&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">77<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">146<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">89.6&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Overseas Assets Under <br \/>&nbsp; &nbsp; &nbsp;Management (RMB, <br \/>&nbsp; &nbsp; &nbsp;billion)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">35.4<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">39.5<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">11.6&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"12.5\">\n<tr readability=\"2\">\n<td class=\"prngen14\" colspan=\"7\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Noah Holdings Limited<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen14\" colspan=\"7\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Reconciliation of GAAP to Non-GAAP Results&nbsp;<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen14\" colspan=\"7\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(In RMB, except for per ADS data and percentages)&nbsp;<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" colspan=\"7\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(unaudited)&nbsp;<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen14\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Three months ended&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">September <br \/>30,&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">September&nbsp; <\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">30,<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Change&nbsp;<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2023<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2024<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prnpr10 prnpl2 prnvab prnsbtb1 prnrbrb1 prnbbbs prnsblb1\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">RMB&#8217;000<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">RMB&#8217;000<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Net income attributable to Noah shareholders<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">233,326<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">134,416<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(42.4&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Adjustment for share-based compensation<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(1,161)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">19,846<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">N.A.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Less: tax effect of adjustments<\/span><\/p>\n<\/td>\n<td class=\"prnpr6 prnpl2 prnvab prntar prnbbbs\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(281)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prnpr10 prnpl2 prnvab prntar prnbbbs\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3,745<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prnpr2 prnpl2 prnvab prntar prnbbbs\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">N.A.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Adjusted net income attributable to Noah shareholders <br \/>&nbsp; &nbsp; &nbsp;(non-GAAP)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">232,446<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">150,517<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(35.2&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Net margin&nbsp;attributable to Noah shareholders<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">31.1&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">19.7&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Non-GAAP net margin attributable to Noah shareholders<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">31.0&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">22.0&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Net income attributable to Noah shareholders per ADS, <br \/>&nbsp; &nbsp; &nbsp;diluted<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3.36<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1.91<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">(43.2&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Non-GAAP net income attributable to Noah shareholders <br \/>&nbsp; &nbsp; &nbsp;per ADS, diluted<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3.35<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2.14<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">(36.1&nbsp;%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n","protected":false},"excerpt":{"rendered":"<p>SHANGHAI, Nov. 27, 2024 \/PRNewswire\/ &#8212;&nbsp;Noah Holdings Limited (&#8220;Noah&#8221; or the &#8220;Company&#8221;) (NYSE: NOAH and HKEX: 6686), a leading and pioneer wealth management service provider offering comprehensive one-stop 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. THIRD QUARTER [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-31718","post","type-post","status-publish","format-standard","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>NOAH HOLDINGS LIMITED ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE THIRD QUARTER OF 2024 - My Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/transmediavictoria.net.au\/?p=31718\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NOAH HOLDINGS LIMITED ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE THIRD QUARTER OF 2024 - My Blog\" \/>\n<meta property=\"og:description\" content=\"SHANGHAI, Nov. 27, 2024 \/PRNewswire\/ &#8212;&nbsp;Noah Holdings Limited (&#8220;Noah&#8221; or the &#8220;Company&#8221;) (NYSE: NOAH and HKEX: 6686), a leading and pioneer wealth management service provider offering comprehensive one-stop 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. 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