Noah Holdings Ltd (NYSE:NOAH)

Q1 2025 Noah Holdings Ltd Earnings Call Transcript

May 28, 2025 / 12:00 AM GMT

Release Date Price: $10.77 (+7.81%)

Transcript

Key Points

Positve

Noah Holdings Ltd (NOAH) reported a solid quarter with net income of $169 million, up 4.7% year-over-year and 27.4% sequentially.
Operating costs and expenses decreased by 18.8% from the previous year, contributing to improved profitability.
The transaction value for RMB-denominated private secondary products grew 2.6 times from last year, with revenue contributions increasing by 9.4%.
Overseas private investment products saw a transaction value increase of 27.7%, with revenue contributions growing by 20.3%.
The company has successfully expanded its overseas relationship manager team by 44% and plans further growth in Singapore and Southeast Asia.

Negative

Total net revenue in Q1 fell by 5.4% compared to the same period last year, impacted by a decline in revenue from overseas insurance products by 22.8%.
Net revenues from domestic operations decreased by 9.4% due to lower recurring service fees from private equity products and domestic insurance distributions.
The Hong Kong insurance market remains highly competitive, affecting the distribution of overseas insurance products, which saw a revenue decline of 17.8%.
Despite a strong overseas performance, domestic net revenues decreased by 14.3% sequentially, largely due to sluggish performance in the insurance sector.
The company faces challenges from market volatility and global economic uncertainties, which may impact future revenue growth.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

NOAH.N - Noah Holdings Ltd
Q1 2025 Noah Holdings Ltd Earnings Call
May 29, 2025 / 12:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good day and welcome to the NOAA 1st quarter 2025 earnings conference call.

All participants will be in a listen-only mode.

Should you need assistance, please signal a conference specialist by pressing the star key, followed by 0.

After today's presentation, there will be an opportunity to ask questions.

To ask a question, you may press then 1 on your telephone.

To withdraw your questions, please press 2.

Please note this event is being recorded.

I would now like to turn the conference over to Dre IR. Please go ahead.

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Unidentified_2 [2]
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