Noah’s revenue falls 19.2% as fees from products decrease

31 May 2024 | 3 minutes read

Chinese wealth manager Noah Holdings (Noah) saw its revenue fall by 19.2% YoY in 1Q24, as the New York- and Hong Kong-listed group suffered a drop in fees from its products. The fall in revenue to RMB 649.5 million (US$90 million) for the quarter was mainly due to decreases in performance-based income generated from USD private equity products and recurring…

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