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Last $28.52 USD
Change Today -1.71 / -5.66%
Volume 671.3K
NOAH On Other Exchanges
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As of 8:04 PM 07/1/15 All times are local (Market data is delayed by at least 15 minutes).

noah holdings ltd-spon ads (NOAH) Key Developments

Noah Holdings Limited Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Reiterates Earnings Guidance for the Full Year of 2015

Noah Holdings Limited announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenues of $53,134,022 against $75,458,415 a year ago. Net revenues were $50,258,519 against $71,799,011 a year ago. Income from operations was $20,684,028 against $22,778,775 a year ago. Income before taxes and loss from equity in affiliates was $22,692,191 against $25,206,533 a year ago. Net income attributable to Noah shareholders was $16,875,433 or $0.30 basic and diluted per share against $21,184,203 or $0.37 diluted per share a year ago. Adjusted net income attributable to Noah shareholders (non-GAAP) was $18,090,874 or $0.32 diluted per share against $22,486,641 or $0.38 diluted per share a year ago. Net revenues were 42.9% increase from the corresponding period in 2014, primarily due to increases in one-time commission revenues, recurring service fees and performance-based income. Cash outflow from the company's operating activities during the first quarter of 2015 was $8.6 million, primarily due to the payment of annual bonuses during the first quarter of 2015. Recurring Revenue was $34.7 million, accounting for 51% of net revenues in First Quarter 2015 compared to $30.9 million in First Quarter of 2014 or 65% of net revenues. The decrease in recurring revenues as a percentage of total was primarily due to the increase of onetime commission revenue along with a significant increase in total transaction value quarter-over-quarter and an increase of performance-based income as well as revenues from other the -- from the Internet finance business. The company reiterates its estimates that non-GAAP net income attributable to Noah shareholders for the full year 2015 is expected to be in the range of $90.0 million to $95.0 million, an increase of 15.9% to 22.3% compared to the full year 2014. This growth rates reflects the strong fundamental and steady profitability in the core business including wealth and asset management on the one hand and also continued investments in its new businesses, primarily in Internet finance on the other. The company expects to invest close to RMB 100 million in the next 15 months or so to upgrade its systems.

Noah Holdings Limited Announces Board Changes

Noah Holdings Limited announced that effective as of May 1, 2015, Mr. Shuang Chen has resigned from his position as an independent director of the board of directors of the Company and a member of the audit committee of the Board (the Audit Committee), along with all his positions on the other committees of the Board, and that Ms. May Yihong Wu has resigned as the chairman of the Audit Committee, although she will remain as a member of the Audit Committee and retain her other positions on the other committees of the Board. Also effective as of May 1, 2015, the Company has appointed Mr. Tze-Kaing Yang as an independent director and the chairperson of the Audit Committee. Mr. Tze-Kaing Yang is currently the Chairman and CEO of Yangtze Associates. He also serves as the supervisor of ASUSTeK Computer Inc., the director of RITEK Corp., the non-executive director of Natural Beauty Bio-Technology Limited and the independent director of ASRock Inc. and DBS Bank (Taiwan) Ltd. Mr. Yang was previously the Political Deputy Minister of Ministry of Finance in Taiwan from 2003 through 2004, managing director and acting chairman of Bank of Taiwan from 2003 through 2004, president of China Development Industrial Bank, independent director of the Taiwan Stock Exchange, AU Optronics Corporation and Vanguard International Semiconductor Corporation. He was also the executive secretary of National Development Fund of Taiwan.

Noah Holdings Limited to Report Q1, 2015 Results on May 18, 2015

Noah Holdings Limited announced that they will report Q1, 2015 results at 8:00 PM, US Eastern Standard Time on May 18, 2015

Noah Holdings Limited, Q1 2015 Earnings Call, May 18, 2015

Noah Holdings Limited, Q1 2015 Earnings Call, May 18, 2015

Noah Holdings Limited Appoints Kenny Lam as Group President

Noah Holdings Limited has appointed Kenny Lam as Group President. He will oversee the company's operational and management functions and key strategic initiatives. He will report directly to Jingbo Wang, Chairman and Chief Executive Officer of Noah. Lam brings 14 years of experience in strategic, operational and management transformations in the financial industry. He was a Global Senior Partner at McKinsey and a co-leader of its Asia Financial Service Practice, covering 13 markets across Asia.

 

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NOAH

Industry Average

Valuation NOAH Industry Range
Price/Earnings 22.5x
Price/Sales 6.3x
Price/Book 5.1x
Price/Cash Flow 22.2x
TEV/Sales 4.7x
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