#China #Shanghai #Wealth Management #AI Integration #Noah Holdings

Noah Holdings Reports Q3 2025 Earnings

Noah Holdings Limited has recently disclosed its unaudited financial results for the third quarter of 2025, reflecting a resilient performance amidst a challenging market environment. Despite experiencing a year-over-year decline of 7.4% in net revenues, the company has shown remarkable operational strength, achieving a sequential revenue increase for the second consecutive quarter to reach RMB 632.9 million (approximately US$88.9 million). Notably, their non-GAAP net income soared by 52.2% year-over-year to RMB 229.1 million (US$32.2 million), underscoring Noah's effective cost management and strategic transformations.

Overseas Growth as a Core Engine

Noah's overseas business has become a crucial component of its overall growth strategy, contributing significantly to the company's revenue. The latest reports indicate that international assets under administration (AUA) increased to US$9.3 billion, marking a 6.8% rise from the previous year. Additionally, assets under management (AUM) expanded by 5.3% to US$5.9 billion, reinforcing the strength of Noah's global platform. The company’s co-founder and chairwoman, Jingbo Wang, highlighted the importance of recently obtained US broker-dealer license, which will facilitate Noah's overseas expansion plans.

AI-Driven Transformation

In a move towards modernizing operations, Noah has initiated the full integration of AI technology across its various platforms. This strategic implementation, known as the "AI Wealth Advisor + AI Operations System" plan, aims to enhance client acquisition, increase operational efficiency, and minimize reliance on manual processes. The recent upgrade to their iARK app introduced “Noya”, an AI financial advisor designed to offer enriched engagement and facilitate better client interaction. The company has earmarked this venture as a significant leap in their digital transformation journey.

Strengthening Client Engagement and Revenue Mix

Noah’s bottom-line success can also be attributed to improved client engagement and transaction activity across its platforms. The overall active client base surged by 35.5% year-over-year, offering a confident nod towards Noah's platform capabilities. Moreover, the value of distributed investment products soared by 19.1% year-over-year, demonstrating a robust market response. Notably, transaction volumes for RMB-and USD-denominated products rose significantly, highlighting a growing confidence among investors.

Global Expansion and Booking Centers

Noah’s commitment to expanding its global presence has achieved notable milestones, with overseas revenues now accounting for nearly half of total revenues. The company's number of overseas registered clients increased by 13.1%, alongside a parallel growth rate of 13.4% in overseas active clients. The company's recent inauguration of a fourth booking center in the US signifies its commitment to fortifying its cross-border service capabilities.

Future Outlook and Strategic Priorities

Looking ahead, Noah Holdings has identified three core priorities to sustain its competitive edge: 1) strengthen investment product offerings to diversify and innovate revenue streams, 2) further leverage AI to integrate its operational framework and enhance market responsiveness, and 3) activate its global booking centers to elevate client experiences while unlocking new growth opportunities. Management has reiterated confidence in the effectiveness of these initiatives in navigating future challenges and capturing emerging market prospects.

Noah Holdings continues its journey as a leader in the wealth management sector, dedicated to enhancing shareholder value and expanding its reach within the affluent global marketplace.

For more information regarding Noah Holdings Limited, please visit Noah's Investor Relations.