Noah Holdings Gears Up for Global Expansion with Strong Q3 Results

Noah Holdings Limited reports robust financial growth in Q3 2024, driven by an international expansion strategy and steadily increasing overseas revenues. The company is prioritizing shareholder returns with a share repurchase program and plans to expand its global wealth management services targeting Mandarin-speaking high-net-worth investors.

Noah Holdings Limited, a top wealth management provider, has announced its unaudited financial results for Q3 2024, showcasing significant growth metrics. The company highlights the effectiveness of its international expansion efforts, primarily focusing on servicing Mandarin-speaking high-net-worth individuals globally.

This quarter, Noah introduced new brands aimed at overseas markets and committed to shareholder interests as it prepares for a US$50 million share repurchase program. The firm reported RMB 683.7 million in net revenues, marking an 11% increase. Overseas growth fueled these numbers, with revenues from these markets rising 28.9% year-over-year.

Operational income soared by 79.7% from the previous quarter, thanks to strategic cost-cutting and enhanced service quality. By aggressively expanding in key global markets and forming alliances with financial giants, Noah is set to elevate its market presence and drive sustainable growth.

(With inputs from agencies.)