Overview

* Noah's Q2 net revenue rises 2.2% yr/yr, driven by private secondary products

* Net income attributable to shareholders surges 79% yr/yr, aided by fund value increase

* Operational income up 20.2% yr/yr, reflecting reduced one-off expenses

Outlook

* Company remains focused on global expansion amid economic uncertainties

* No specific guidance provided for future quarters or full year in press release

Result Drivers

* PRIVATE SECONDARY PRODUCTS - Increased distribution of private secondary products drove a 2.2% rise in net revenues

* OVERSEAS INSURANCE - Significant growth in overseas insurance services contributed to a 90.9% increase in net revenues from this segment

* FUND VALUE INCREASE - Surge in net income attributed to an increase in the fair value of funds managed by Gopher

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 RMB

Revenue 629.50

mln

Q2 Net RMB

Income 178.60

mln

Q2 RMB 161

Income mln

from

Operatio

ns

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the investment management & fund operators peer group is "buy"

* Wall Street's median 12-month price target for Noah Holdings Ltd ( NOAH ) is $12.20, about 1.1% above its August 27 closing price of $12.33

* The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 7 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)