Noah Holdings' Chairwoman, Ms. Jingbo Wang, released a letter to shareholders, reflecting on 2024 as a pivotal year for global expansion and organizational transformation. The company undertook a comprehensive restructuring of its distribution channels, strengthened its compliance framework, and drove sustainable growth through overseas expansion. This transformation required navigating diverse regulatory frameworks and empowering core teams.
Domestically, Noah completed a compliance-driven restructuring, separating sales teams into independent licensed business units and consolidating operations into core cities. This also involved enhancing online capabilities for remote engagement and optimizing operational systems. Globally, the company established a team of 138 overseas relationship managers in key markets like Hong Kong and Singapore, and launched new brands: ARK Wealth Management, Olive Asset Management, and Glory Family Heritage.
The letter highlighted tangible results from these efforts, including RMB 550 million in non-GAAP net income attributable to Noah shareholders in 2024. The Board approved dividends equivalent to 100% of this income, comprising an annual dividend of RMB 275 million (US$37.7 million) and a special dividend of RMB 275 million (US$37.7 million), complementing an ongoing US$50 million share repurchase program. This demonstrates a strong commitment to shareholder returns.
For 2025, strategic priorities include expanding the relationship manager team, serving existing and new clients (domestic HNWIs and global Chinese immigrants), and strengthening global infrastructure through investments in technology and AI capabilities. The Chairwoman reiterated the belief that global asset allocation for global Chinese HNWIs will be a dominant trend for the next two to three decades, positioning Noah as the preferred wealth management platform for this demographic.
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