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A tale of two wealth managers: Noah’s shift to offshore clientele gathers pace

Photo by Elias Null on Unsplash

The international expansion of Chinese wealth manager Noah Holdings appears to be gaining momentum as its onshore business continues to suffer. Shanghai-based, Nasdaq-listed Noah reported net revenue of RMB683.7 million (US$97.4 million) in 3Q2024, a 8.8% YoY decline. This was due to a 33.0% YoY decrease in net revenues from mainland China to RMB306.8 million, which was partially offset by…

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