NOAHNYSEInvestment Advice
NOAH HOLDINGS LTD
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 29, 2026
$7.07−0.15 (-2.08%)
Close on Oct 19, 2026
NOAH HOLDINGS LTD revenue by segment
By business segment
| Revenue | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | % of revenue | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Domestic asset management | CN¥692.47M | CN¥772.11M | – | – | – | – | – | – | – | – | 26.5% | -10.3% |
| Domestic public securities | CN¥566.49M | CN¥488.75M | – | – | – | – | – | – | – | – | 21.7% | +15.9% |
| Overseas asset management | CN¥553.94M | CN¥438.51M | – | – | – | – | – | – | – | – | 21.2% | +26.3% |
| Overseas wealth management | CN¥547.54M | CN¥674.70M | – | – | – | – | – | – | – | – | 21.0% | -18.8% |
| Overseas insurance and comprehensive services | CN¥178.79M | CN¥138.87M | – | – | – | – | – | – | – | – | 6.8% | +28.8% |
| Domestic insurance | CN¥18.65M | CN¥42.87M | – | – | – | – | – | – | – | – | 0.7% | -56.5% |
| Internet Financial Service Business | – | – | – | – | – | – | – | – | – | CN¥50.36M | – | – |
| Asset Management Business | – | CN¥767.34M | CN¥766.17M | CN¥834.47M | CN¥1.04B | CN¥875.49M | CN¥783.58M | CN¥748.53M | CN¥588.04M | CN¥531.81M | – | – |
| Wealth Management | – | CN¥1.80B | CN¥2.49B | CN¥2.20B | CN¥3.19B | CN¥2.37B | CN¥2.32B | CN¥2.31B | CN¥2.13B | CN¥1.93B | – | – |
| Other Financial Service Business | – | – | – | – | – | – | – | CN¥240.09M | CN¥112.60M | CN¥50.11M | – | – |
| Other Businesses | – | CN¥32.93M | CN¥37.28M | CN¥65.93M | CN¥56.73M | CN¥64.00M | CN¥288.95M | CN¥235.07M | CN¥112.60M | – | – | – |
| Domestic asset management | – | CN¥772.11M | – | – | – | – | – | – | – | – | – | – |
| Operating income | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Domestic asset management | CN¥566.27M | CN¥574.11M | – | – | – | – | – | – | – | – | -1.4% |
| Domestic public securities | CN¥427.38M | CN¥318.98M | – | – | – | – | – | – | – | – | +34.0% |
| Overseas asset management | CN¥409.22M | CN¥353.60M | – | – | – | – | – | – | – | – | +15.7% |
| Overseas wealth management | CN¥142.67M | CN¥105.45M | – | – | – | – | – | – | – | – | +35.3% |
| Overseas insurance and comprehensive services | CN¥53.94M | CN¥45.47M | – | – | – | – | – | – | – | – | +18.6% |
| Domestic insurance | -CN¥34.46M | -CN¥81.58M | – | – | – | – | – | – | – | – | -57.8% |
| Internet Financial Service Business | – | – | – | – | – | – | – | – | – | -CN¥180.00M | – |
| Asset Management Business | – | CN¥387.87M | CN¥386.66M | CN¥447.84M | CN¥485.24M | CN¥459.81M | CN¥391.32M | CN¥353.20M | CN¥302.90M | CN¥321.27M | – |
| Wealth Management | – | CN¥344.05M | CN¥809.90M | CN¥741.46M | CN¥921.49M | CN¥817.48M | CN¥437.74M | CN¥607.19M | CN¥580.95M | CN¥526.02M | – |
| Other Financial Service Business | – | – | – | – | – | – | – | -CN¥33.87M | -CN¥106.81M | -CN¥180.00M | – |
| Other Businesses | – | -CN¥98.03M | -CN¥98.64M | -CN¥100.85M | -CN¥207.83M | -CN¥18.81M | CN¥85.91M | -CN¥33.87M | -CN¥106.81M | – | – |
| Domestic asset management | – | CN¥574.11M | – | – | – | – | – | – | – | – | – |
By product or service
| Revenue | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | % of revenue | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Other Services [Member] | – | – | CN¥270.58M | CN¥223.44M | CN¥161.98M | CN¥196.15M | CN¥522.96M | CN¥361.89M | CN¥195.07M | CN¥119.58M | – | – |
| One-time commissions | – | – | CN¥1.09B | CN¥681.45M | CN¥1.27B | CN¥808.84M | CN¥931.67M | CN¥1.03B | CN¥541.03M | CN¥817.32M | – | – |
| Recurring service fees | – | – | CN¥1.82B | CN¥1.91B | CN¥2.11B | CN¥1.93B | CN¥1.85B | CN¥1.78B | CN¥605.09M | CN¥535.71M | – | – |
| Performance-based income | – | – | CN¥137.61M | CN¥309.58M | CN¥784.19M | CN¥389.53M | CN¥113.09M | CN¥143.63M | CN¥86.49M | CN¥20.39M | – | – |
| Revenues from Others [Member] | – | – | – | – | – | – | – | CN¥1.73B | CN¥1.43B | CN¥1.49B | – | – |
| Lending Services | – | – | CN¥19.32M | CN¥35.90M | CN¥40.23M | CN¥78.77M | CN¥376.64M | CN¥209.80M | – | – | – | – |
| Investor education services | – | – | – | – | – | CN¥9.35M | CN¥26.35M | CN¥36.56M | – | – | – | – |
| Other Comprehensive Services | – | – | CN¥251.26M | CN¥187.54M | CN¥121.76M | CN¥117.38M | CN¥146.32M | CN¥115.53M | – | – | – | – |
By region
| Revenue | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | % of revenue | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| China | CN¥1.35B | CN¥1.37B | CN¥1.88B | CN¥2.30B | CN¥3.32B | CN¥2.60B | CN¥2.47B | CN¥2.56B | CN¥2.30B | CN¥2.01B | 51.7% | -1.4% |
| Hong Kong SAR China | CN¥986.36M | CN¥925.85M | CN¥1.11B | CN¥591.94M | CN¥869.72M | CN¥564.24M | CN¥733.13M | CN¥751.05M | CN¥545.47M | CN¥546.95M | 37.8% | +6.5% |
| Others | CN¥293.91M | CN¥326.23M | CN¥318.75M | CN¥236.42M | CN¥140.86M | CN¥164.88M | CN¥212.70M | CN¥3.03M | – | – | 11.3% | -9.9% |
| Overseas | – | – | – | – | – | – | CN¥212.70M | CN¥3.03M | – | – | – | – |
From the segment and revenue-disaggregation notes of NOAH's 10-K and 10-Q filings (XBRL). Fourth-quarter figures are the fiscal year less the first nine months. Segment names follow the company's own labels and can change when it reorganizes.