Technology

Noah Reports Q2 Earnings, Driven by Robust Growth in Overseas Markets

Published

2 years ago

August 29, 2024

SHANGHAI, Aug. 29, 2024 /PRNewswire/ — Noah Holdings Limited (“Noah” or the “Company”) (NYSE: NOAH and HKEX: 6686), a leading and pioneer wealth management service provider offering comprehensive advisory services on global investment and asset allocation primarily for Mandarin-speaking high-net-worth investors, today announced its unaudited financial results for the second quarter of 2024.

The Company recorded total net revenues of RMB 616 million (US$ 85 million) in the second quarter of 2024, with overseas businesses contributing RMB 279 million (US$ 38 million). Noah’s operating profit reached RMB 134 million (US$ 18 million) in the second quarter of this year, representing an operating profit margin of 21.8%, an increase from 18.7% in the first quarter of 2024. The second quarter also marked a significant milestone in Noah’s strategic transformation, as the Company continues to pivot towards international markets.

Financial Results Breakdown

In the second quarter of 2024, Noah achieved total net revenues of RMB 616 million (US$85 million), driven by the strong performance of its overseas business. The overseas segment generated RMB 279 million (US$ 38 million), underscoring the Company’s successful global expansion. For the first half of 2024, Noah’s total revenues reached RMB 1.3 billion (US$ 174 million), with the overseas segment contributing RMB 585 million (US$ 81 million).

Notably, the Company made significant strides in expanding its international client base in the first half of 2024, with the number of overseas registered clients increasing by 23.0% year-over-year. The number of overseas Diamond and Black Card clients also expanded by 14.2% year-over-year, demonstrating the growing appeal of Noah’s wealth management services among high-net-worth individuals globally.

Global Strategy Drives Growth

In response to the evolving macroeconomic environment, Noah has implemented its unique global asset allocation strategies that align with market trends and client needs. The U.S. Consumer Price Index (CPI) cooled to 2.9% in July 2024, the first time the inflation rate dipped below 3% since March 2021. During the quarter, Noah raised approximately $152 million for US private equity (PE) products, a significant increase of 46.2% year-over-year. The increment reflects the alignment of clients’ interests with market expectations of a potential Fed rate cut and reflects the accuracy of Noah’s previous CIO investment report forecasts, showcasing the Company’s integrated research and investment capabilities in supporting client portfolio decisions that may contribute to the growth of the Company’s US$ AUA.

The strategic adjustments, aimed at realigning Noah’s business towards overseas markets, had a temporary impact on profitability. Yet the Company’s goals become clearer and compliance is further strengthened. By continuing to expand its overseas private banking team and enhancing its professional service capabilities in Hong Kong, Singapore, Japan, and the United States, Noah will strengthen its position among high net worth overseas Chinese clients, which may contribute significantly to future growth.

Share Repurchase Signals Undervaluation

As part of its commitment to enhancing shareholder returns, the board of directors of the Company authorized a share repurchase program under which the Company may repurchase up to US$50 million of its American depositary shares or ordinary shares, effective immediately. The authorized term for carrying out this share repurchase program is two years.

Mr Zhe Yin, CEO of Noah, said, “This quarter marked a pivotal moment for Noah as we continue to realign our strategy to drive growth in a dynamic global market. Our overseas revenue contribution increase to 46.3% in the first half of 2024 and asset under management increasing 14.1% year-over-year during the quarter. We also raised US$ 338 million for overseas private equity, private credit, and other primary market funds year-to-date, a significant 40.2% year-over-year increase.”

“In addition, our team of overseas relationship manager hits over 110, a dramatic growth of 101.8% year-over-year and 24.2% sequentially during the quarter. This achievement underscore our commitment to providing innovative solutions that meet the evolving needs of our clients worldwide. We believe that wealth management is a long-term career. Our business is built on the premise that it will bring long-term value to our clients, shareholders, and management broad. “Yin said.

China’s wealth management industry is currently facing a challenging period and undergoing a transition. This share repurchase program, along with the recently completed dividend payout, reflects the unwavering commitment to prioritizing shareholder interests and delivering sustained returns from the Company. Furthermore, it demonstrates the Company’s confidence in its future growth.

Ms. Jingbo Wang, co-founder and chairwoman of Noah, commented, ” We believe that our stock is deeply undervalued and does not reflect our growth prospects, robust balance sheet and cash reserves, or the special bond we have formed with the Mandarin-speaking HNWIs globally. We value both our long-term and new shareholders and are committed to sharing our success with them through more proactive capital allocation policies moving forward. “

Looking ahead, the Company’s ongoing focus on international markets, coupled with its expertise in global allocation strategies and a strong emphasis on compliance, positions Noah for sustainable growth.

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SOURCE Noah Holdings Limited

Technology

The Inner Circle acknowledges Colleen Reilly as a Pinnacle Professional Member Inner Circle of Excellence

Published

2 hours ago

April 24, 2026

PORT ST. JOE, Fla., April 24, 2026 /PRNewswire/ — Prominently featured in The Inner Circle, Colleen Reilly is honored as a Pinnacle Professional Member Inner Circle of Excellence for her contributions to Transforming Catering and Event Services in Northwest Florida.

Since 2015, Colleen Reilly has served as founder and CEO of Catering Connections, a company that has redefined catering in Northwest Florida’s beach communities through innovation, collaboration, and community focus. Guided by her motto “Just one call feeds them all,” Ms. Reilly established a unique model by partnering with local restaurants to showcase their specialties, fostering unity among businesses while providing clients with one-of-a-kind event experiences.

With over 15 years of industry expertise, Ms. Reilly specializes in coordinating weddings, family reunions, and corporate events, managing every detail from client consultation to menu planning and flawless execution. Her dedication to service has earned Catering Connections multiple recognitions, including the Couples Choice Award from WeddingWire from 2021 to 2025, the Best of Florida Award from 2022 to 2024, and the Lux Life Hospitality and Catering Award in 2023 and 2024.

Ms. Reilly’s career foundation includes an associate degree in paralegal studies, magna cum laude, from Volunteer State College, a reflection of her meticulous approach to detail and commitment to excellence. Beyond her business, she serves her community as a board member of the Historic St. Andrews Waterfront Partnership and as president of Friends of the Governor Stone Inc., a nonprofit dedicated to preserving maritime heritage in Panama City. Her previous civic contributions include serving five years as a guardian ad litem, advocating for children within the legal system, and volunteering as a school chaperone for international student trips.

A leader who blends innovation with service, Ms. Reilly continues to grow Catering Connections while deepening her commitment to the local community. Looking ahead, she remains dedicated to expanding her company’s impact, bringing people together, and creating meaningful experiences through food and fellowship.

Contact: Katherine Green, 516-825-5634, editorialteam@continentalwhoswho.com

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SOURCE The Inner Circle

Technology

Media Contributor Kianga Moore to Host Executive Media Roundtable On AI’s Transformational Impact in Retail

Published

2 hours ago

April 24, 2026

Leaders from AdFury.ai, Vendormint, and New Nexus Group to Explore Real-Time Decision-Making, Resilience, and Growth in a Volatile Market

NEW YORK, April 24, 2026 /PRNewswire/ — As retailers navigate ongoing economic uncertainty, supply chain volatility, and rapidly shifting consumer expectations, the upcoming convening of a high-level roundtable discussion will examine how artificial intelligence is reshaping the retail landscape in real time.

Moderated by Media Contributor Kianga Moore, to be held on Wednesday, April 29 at 11h00am (EST), the roundtable will bring together senior leaders from AdFury.ai, Vendormint and New Nexus Group to discuss how modern enterprise platforms are leveraging AI to drive agility, efficiency, and long-term resilience across the retail ecosystem.

The discussion will additionally focus on how AI is enabling retailers to respond dynamically to changing demand signals, optimize marketing investments, and strengthen interoperability across increasingly complex vendor and marketplace networks.

“Retailers today are operating in a constant state of disruption”, stated Kianga Moore. “This roundtable will explore how AI is not just a tool for efficiency, but a strategic asset for anticipating change and building more resilient, adaptive American enterprise.”

Key discussion topics will include remarks on how, for example, enterprise AI platforms are helping retailers respond instantly to fluctuations in consumer demand, pricing pressures, and external supply chain disruptions and the role of AI in enhancing interoperability across vendors, partners, and marketplaces to create more agile and resilient retail infrastructures in 2026.

Rob Gonda, Chief Technical Officer at Vendormint, stated that, “Interoperability is the backbone of modern retail. AI enables seamless communication between platforms, vendors, and marketplaces—turning fragmented systems into cohesive, responsive ecosystems that can adapt under pressure.”

Discussion topics will also include machine learning’s ability to optimize ad spend, improving personalization, and delivering measurable ROI while maintaining brand trust and regulatory compliance.

Eric Howerton, Co-Founder and Chief Growth Officer of AdFury.ai, added that,”AI is fundamentally changing how brands approach customer acquisition. By leveraging machine learning through fine-tuned, retail-specific agentic flows, we can not only optimize ad spend in real time, but we can also ensure messaging is personalized, compliant, and aligned with evolving consumer expectations.”

And indeed the roundtable will include discussions on how AI-powered predictive analytics can help businesses anticipate economic, technological, and geopolitical disruptions ahead—and plan accordingly.

Cheryl Yarbrough, Vice President of Partnerships at New Nexus Group added that, “Resilience in retail is no longer built in quarterly planning cycles-it’s built in real time. AI gives organizations the ability to identify disruptions before they cascade, pivot strategies before momentum is lost, and maintain continuity when the market moves faster than any human team can react alone.”

The roundtable will be held via Zoom TeleConference, with questions from the press and key stakeholders to follow opening remarks and a 30-minute Q&A between the moderator and the panelists.

For all media inquiries and to register to attend, please contact: Sam Amsterdam, Amsterdam Group Public Relations Inc. – Sam@AmsterdamGroup.net / +1 (202) 910-8349

Vendormint (https://vendormint.com)New Nexus Group (https://www.newnexusgroup.com)AdFury.ai (https://www.adfury.ai)

Samuel Amsterdam
Communications Counsel
Vendormint
samuelamsterdam@gmail.com

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SOURCE Vendormint

Technology

Fairway Home Mortgage Earns Prestigious USA TODAY Top Workplaces Award For 6th Consecutive Year

Published

3 hours ago

April 24, 2026

Fairway CEO Steve Jacobson Named #1 Leadership Award Winner of Companies With 2500+ Employees

MADISON, Wis., April 24, 2026 /PRNewswire/ — Fairway Home Mortgage announced that it has earned the prestigious 2026 USA TODAY Top Workplaces award. This is the sixth year in a row Fairway achieved this honor.

The award honors organizations with 150 or more employees that have created exceptional, people-first cultures. This year, more than 40,500 organizations were invited to participate. The winners are recognized for their commitment to fostering a workplace environment that values employee listening and engagement. USA TODAY showcased the winners at the National Awards Summit in Nashville. Watch the video of the event here.

“Being recognized with this award reflects Fairway’s commitment to bringing our people together face-to-face,” said Fairway’s CEO and Founder Steve Jacobson. “Companies are better when their people are around each other. People need each other and they learn from each other, and we’re very intentional about creating opportunities for in-person collaboration at Fairway.”

Jacobson demonstrated that in-person collaboration when he traveled to Knoxville this week with Fairway Senior Vice President Dan Richards to spend time with one of Fairway’s branches and their local real estate partners. “We engaged in real conversations about the market, discussed what people are seeing on the ground, and talked about how Fairway keeps showing up for clients,” said Richards. “It’s a reflection of the same hands-on approach that has defined Fairway’s culture for more than two decades.”

“To be named a Top Workplace for six consecutive years speaks to Fairway’s leadership, our mindset, and the empowerment of our staff,” said Fairway’s Chief People and Engagement Officer Julie Fry. “Our strength isn’t just what we offer employees. What sets a top workplace apart is the daily commitment to people—prioritizing connection, valuing contributions, and creating an environment where employees feel energized to serve because they feel valued first.”

The winners are determined by authentic employee feedback captured through a confidential survey conducted by Energage, the HR research and technology company behind the Top Workplaces program since 2006. The results are calculated based on employee responses to statements about Workplace Experience Themes, which are proven indicators of high performance.

“Earning a USA TODAY Top Workplaces award is a testament to an organization’s credibility and commitment to a people-first culture,” said Eric Rubino, CEO of Energage. “This award, driven by real employee feedback, is more than just a recognition — it’s proof that your employees believe in the organization and its leadership. Job seekers and customers look for this trusted badge of credibility and excellence. It signals a company that values its people, and that kind of culture resonates in today’s competitive market”

About Fairway Home Mortgage
Madison, WI- and Carrollton, TX-based Fairway Independent Mortgage Corporation (NMLS #2289) is a full-service mortgage lender licensed in all 50 states. Fairway is the #2 overall retail lender in the U.S.

About Energage
Making the world a better place to work together.™
Energage is a purpose-driven company that helps organizations turn employee feedback into useful business intelligence and credible employer recognition through Top Workplaces. Built on 20 years of culture research and the results from 30 million employees surveyed across more than 80,000 organizations, Energage delivers the most accurate competitive benchmark available. With access to a unique combination of patented analytic tools and expert guidance, Energage customers lead the competition with an engaged workforce and an opportunity to gain recognition for their people-first approach to culture. For more information or to nominate your organization, visit energage.com or topworkplaces.com.

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SOURCE Fairway Home Mortgage