Noah Holdings Interim Report Reveals Segment Shifts, $20.4M Buyback, and Camsing Settlement Progress
NOAH is trading near its 52-week low of $8.01 (0.4% above the low).
Summary
Noah Holdings' H1 2026 interim report shows 9% net income growth to RMB356.9M, a US$20.4M buyback, and continued progress on Camsing settlements, with segment-level detail revealing a sharp divergence between Mainland China public securities growth and international wealth management decline.
Key Events · Earnings and Guidance · NOAH
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H1 Net Income Up 9% to RMB356.9M
Net income attributable to shareholders rose 9.0% to RMB356.9M (US$52.6M) for H1 2026, driven by an 11.6% reduction in operating costs and a shift from investment loss to investment income, partially offset by a RMB46.1M swing to loss from equity in affiliates.
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Segment Divergence: Mainland China Up, International Down
Mainland China public securities revenue surged 60.0% to RMB417.3M on a 506.6% jump in performance-based income, while international wealth management revenue fell 33.8% to RMB193.0M as one-time commissions dropped 46.5% and relationship managers were cut from 107 to 56.
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US$20.4M Share Repurchase Completed
The company repurchased 1,816,751 ADSs (9,083,755 shares) for US$20.42M during H1 2026 at prices ranging from US$9.79 to US$12.00 per ADS, all for cancellation; 9,378,935 shares were cancelled on July 7, 2026.
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Camsing Settlement Progress Continues
68 of 215 Remaining Affected Clients have now entered into Cash Settlement Plan agreements involving RMB239.9M in aggregate claims (21 during H1, 47 after June 30), reducing contingent liabilities to RMB454.5M as of June 30, 2026 from RMB505.5M at year-end 2025.
Analysis · NOAH · Finance
The 2026 interim report from Noah Holdings adds material detail beyond the August earnings release. Revenue in the Mainland China public securities segment grew 60% to RMB417.3M on a 506.6% surge in performance-based income, while international wealth management revenue fell 33.8% to RMB193.0M as one-time commissions dropped 46.5%. During H1, the company repurchased 1.82M ADSs for US$20.4M at prices between US$9.79 and US$12.00 — notably above today's $8.04 price, meaning the buyback was executed at higher levels. The Camsing settlement continues to progress: 68 of 215 remaining affected clients have now accepted cash settlements totaling RMB239.9M in claims, reducing contingent liabilities to RMB454.5M. The stock trades near its 52-week low of $8.01, suggesting the market has not yet rewarded the 9% net income growth and cost discipline.
How filings like this one have moved
In the 30 days to Sep 30, 2026, 29.6% of the 1615 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, NOAH was trading at $8.04 on NYSE in the Finance sector, with a market capitalization of approximately $592.9M. The 52-week trading range was $8.01 to $12.45. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.