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TheStreet Open House

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

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 second quarter 2011.

SECOND QUARTER 2011 FINANCIAL HIGHLIGHTS

  • Net revenues in the second quarter of 2011 were US$23.3 million, a 199.1% increase from the corresponding period in 2010.
  • Income from operations in the second quarter of 2011 was US$10.6 million, a 346.4% increase from the corresponding period in 2010.
  • Net income attributable to Noah shareholders in the second quarter of 2011 was US$8.9 million, a 367.4% increase from the corresponding period in 2010. Non-GAAP 1 net income attributable to Noah shareholders in the second quarter of 2011 was US$9.3 million, a 213.6% increase from the corresponding period in 2010.
  • Net income per basic and diluted ADS in the second quarter of 2011 were both US$0.16. Non-GAAP net income per diluted ADS in the second quarter of 2011 was US$0.16.

SECOND QUARTER 2011 OPERATIONAL HIGHLIGHTS

  • Total number of registered clients as of June 30, 2011 increased by 80.3% year-over-year to 22,276; this figure includes 21,600 registered individual clients, 611 registered enterprise clients and 65 wholesale clients that have entered into cooperation agreements with the Company.
  • Active clients 2 during the second quarter of 2011 were 1,173, a 242.0% increase from the corresponding period in 2010.
  • The aggregate value of wealth management products distributed by the Company during the second quarter of 2011 was RMB7.9 billion (approximately US$1.2 billion) 3, a 109.5% increase from the corresponding period in 2010. Of this aggregate value, fixed income products accounted for 34.0%, private equity fund products accounted for 58.8%, and securities investment funds and investment-linked insurance products accounted for 7.2%.
  • The average transaction value per client 4 in the second quarter of 2011 was RMB6.7 million (approximately US$1.0 million), a 38.7% decrease from the corresponding period in 2010.
  • Coverage network as of June 30, 2011 included 45 branches, up from 25 branches as of June 30, 2010. The number of relationship managers increased to 449 as of June 30, 2011, up 57.5% year-over-year.

Ms. Jingbo Wang, Co-founder, Chairwoman of the board of directors and Chief Executive Officer, commented, “We made significant progress in increasing our product scale and activating our client base. We will continue to focus on both client breadth and depth by distributing quality, differentiated and innovative products.”

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