This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Noah Holdings Limited Announces Financial Results For The First Quarter Of 2011

Stocks in this article: NOAH

Noah Holdings Limited (“Noah” or the “Company”) (NYSE: NOAH), the leading independent service provider focusing on distributing wealth management products to the high net worth population in China, today announced its unaudited financial results for the first quarter 2011.

FIRST QUARTER 2011 FINANCIAL HIGHLIGHTS

  • Net revenues in the first quarter of 2011 were US$15.1 million, a 158.2% increase from the corresponding period in 2010.
  • Income from operations in the first quarter of 2011 was US$6.6 million, a 128.2% increase from the corresponding period in 2010.
  • Net income attributable to Noah shareholders in the first quarter of 2011 was US$5.8 million, a 158.3% increase from the corresponding period in 2010. Non-GAAP 1 net income attributable to Noah shareholders in the first quarter of 2011 was US$6.1 million, a 162.1% increase from the corresponding period in 2010.
  • Net income per basic and diluted ADS in the first quarter of 2011 were both US$0.10. Non-GAAP net income per diluted ADS in the first quarter of 2011 was US$0.11.

FIRST QUARTER 2011 OPERATIONAL HIGHLIGHTS

  • As of March 31, 2011, the Company’s total number of registered clients increased by 76.4% year-over-year to 18,521; this figure includes 17,971 registered individual clients, 499 registered enterprise clients and 51 wholesale clients that have entered into cooperation agreements with the Company.
  • The Company had 659 active clients 2 during the first quarter of 2011, a 30.2% increase from the corresponding period in 2010.
  • The aggregate value of wealth management products distributed by the Company during the first quarter of 2011 was RMB5.0 billion (approximately US$764.8 million) 3, a 257.0% increase from the corresponding period in 2010. Of this aggregate value, fixed income products accounted for 33.7%, private equity fund products accounted for 50.1%, and securities investment funds and investment-linked insurance products accounted for 16.2%. The increase in securities investment funds and investment-linked insurance products was primarily due to a new securities investment fund launched in the quarter.
  • The average transaction value per client 4 in the first quarter of 2011 was RMB7.6 million (approximately US$1.2 million), a 173.8% increase from the corresponding period in 2010.
  • As of March 31, 2011, Noah’s coverage network included 39 branches, up from 20 branches as of March 31, 2010. The number of relationship managers increased to 364 as of March 31, 2011, up 64.0% year-over-year.

Ms. Jingbo Wang, Co-founder, Chairwoman of the board of directors and Chief Executive Officer, commented, “We had a strong start in 2011; our innovative, high-quality and diversified product mix resonated well with our client base. We remain focused on our initiatives to expand our client base and build our market share among the high net worth population in China.”

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,191.37 -195.84 -1.13%
S&P 500 2,002.16 -27.39 -1.35%
NASDAQ 4,637.9940 -43.5030 -0.93%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs