China's Noah Holdings Q1 net income falls on higher affiliate losses

Noah Holdings

27/05/2026 21:42

Overview
Q1 net income attributable to shareholders fell 16.3% yr/yr on higher affiliate losses
China wealth manager's Q1 revenue rose 1.8% yr/yr, led by domestic private secondary products
Operating income rose 27.1% yr/yr, supported by cost controls and domestic public securities recovery

Outlook
Company expects AI integration to become core infrastructure for future wealth management operations
Company says it remains focused on long-term value amid dynamic market conditions

Result Drivers
AFFILIATE LOSSES - Net income declined due to higher loss from equity in affiliates, partly offset by lower operating costs
DOMESTIC PUBLIC SECURITIES - Revenue rose due to higher performance-based income from domestic private secondary products
COST CONTROL - Operating income increased mainly due to disciplined cost control on employee compensation

Company press release: ID:nPn6BMvxra

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
 
RMB 625.80 mln
 
Q1 Net Income Attributable to Shareholders
 
RMB 124.70 mln
 
Q1 Income from Operations
 
RMB 236.40 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 2 "hold" and no "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 is $14.90, about 48.7% above its May 26 closing price of $10.02
The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 8 three months ago

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(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.)