Noah Wealth's net profit for Q1 of fiscal year 2024 is 131 million yuan, a decrease of 46.16% year-on-year.

On May 29, Noah Wealth (Stock Code: NOAH) announced its financial report, showing that the company’s net profit attributable to common shareholders for the first quarter of fiscal year 2024 was 131 million yuan, a decrease of 46.16% year-over-year; operating revenue was 650 million yuan, down 19.16% year-over-year.

Noah Holding Private Wealth Asset Management Co., Ltd. was established on June 29, 2007, in the Cayman Islands. Noah Wealth is China’s first comprehensive financial services group listed on the New York Stock Exchange in the United States, with its subsidiaries holding financial licenses and qualifications related to business development from the China Securities Regulatory Commission, Hong Kong Securities and Futures Commission, and U.S. financial regulatory authorities. As a pioneer and leader in China’s independent wealth management industry, Noah Wealth differs from traditional financial institutions by starting from the client’s perspective, providing professional screening of various financial investment products, asset allocation, and investment portfolio management services both domestically and internationally from an independent and objective standpoint. Currently, Noah Wealth has developed four main business lines: wealth management, investment banking and asset management, comprehensive services, and internet finance. It offers comprehensive, global asset allocation services to nearly 197,000 high-net-worth clients, including basic wealth management, high-end wealth management, overseas wealth management, family wealth management, various asset investment management, insurance brokerage, overseas immigration, high-end education, and financial leasing, helping clients achieve steady and secure asset accumulation and growth.

(Source: Tonghuashun (300033) iFinD)