Q2 2025 Noah Holdings Ltd Earnings Call Transcript

Aug 27, 2025 / 12:00 AM GMT

Release Date Price: $11.81 (-4.22%)

Transcript

Key Points

Positve

Noah Holdings Ltd (NOAH) reported a strong financial performance with net revenues reaching RMB630 million, a 20.2% year-over-year increase.
Non-GAAP net income surged by 78.2% year-over-year to RMB189 million, indicating robust profitability.
The company achieved substantial growth in revenues related to investment products, with a 92% year-over-year increase.
Overseas net revenues accounted for 47.1% of total net revenue, demonstrating successful international expansion.
Noah Holdings Ltd (NOAH) continues to expand its client base, adding 627 new qualified investors in the first half of 2025.

Negative

Net revenues from overseas wealth management decreased by 14.1% year-over-year, primarily due to a decline in insurance product distribution.
Domestic net revenues decreased by 1.3% year-over-year, indicating challenges in the local market.
The company faces significant volatility in global financial markets, impacting investment strategies.
Operating expenses remain a concern, with a focus on managing costs while pursuing growth.
The strategic focus on investment products has led to a decline in revenue contributions from other areas, such as domestic insurance.

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

NOAH.N - Noah Holdings Ltd
Q2 2025 Noah Holdings Ltd Earnings Call
Aug 28, 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 Noah Holdings 2nd quarter and half year 2025 earnings conference call. All participants will be in 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 star, then one on a touchtone phone.

To withdraw your question, please press 4 then 2.

Please note this event is being recorded.

I would now like to turn the conference over to Doreen Chu, senior IR director. Please go ahead.

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Unidentified_2

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