wealth management

FAST NEWS: Noah Seeks to Upgrade Hong Kong Listing Status

The latest: Noah Holdings Private Wealth and Asset Management Ltd. (NOAH.US; 6686.HK) announced Wednesday that its board has approved allowing the company to convert its Hong Kong listing from secondary to primary status, and authorized the company’s senior management to take necessary steps for such a conversion. Looking up: Noah faces the risk of being delisted in the U.S., where it is one of more than 100 Chinese firms identified by U.S. securities regulators as being in danger of failing to comply with tighter auditing rules. By obtaining a second…

Read More »

FAST NEWS: Hywin to Acquire Health Management Services Company

The latest: Wealth management services provider Hywin Holdings Ltd. (HYW.US) said on Friday it has agreed to buy a controlling interest in Beijing iLife3 Technology Co. Ltd., a provider of health management services, for 140 million yuan ($20.7 million). Looking Up: The acquisition will provide Hywin with a major new revenue source as it seeks to tap exploding demand for services in China’s healthcare services market. Take Note: The purchase is well outside Hywin’s core business of providing wealth management services, and thus would bring the company into unfamiliar territory.…

Read More »

Noah Holdings Stung by High Costs Amid Pivot to China’s Rich

Investors dump asset manager’s shares after its latest quarterly report shows heavy spending eroded profit margins Key points: Asset manager Noah Holdings’ second quarter revenue grew 20%, but margins got squeezed by faster-growing operating expenses High expenses came from recruitment of new wealth management staff as company shifts focus to affluent Chinese customers By Warren Yang For a refocused Noah Holdings Ltd. (NOAH.US) banking on Chinese millionaires as its main customers, growth is proving costly. The company, one of the oldest private asset managers in China, reported 899.4 million yuan…

Read More »

Noah Holdings Finds Resurgent Riches in China’s Wealthy

One of the nation’s oldest private wealth managers posts record business in first quarter, but forecasts more modest profit gains for all 2021  Key points: Asset manager Noah Holdings is focusing on higher-margin, affluent customers over more mainstream ones The strategy could position it for stronger growth in the next few years as it emerges as one of the survivors from China’s recent P2P cleanup   By Doug Young Forget the Average Joe and focus on the rich. That’s the message coming in the latest earnings report from Noah Holdings Ltd.…

Read More »