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Noah reports stronger 2Q20 results, proposes settlement for investors in Camsing products

Shanghai-based Noah Holdings has reported stronger-than-expected financial results for 2Q20 and has announced a settlement plan for investors involved in last year’s Camsing incident. The group’s 2Q20 net revenue declined 14.2% YoY to RMB 747.4 million (US$105.8 million). However, income from operations improved, recording a 24.7% increase QoQ and 26.9% YoY. The wealth management business enjoyed a 51.3% YoY jump…

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