Noah Holdings (NOAH) has released an update.
Noah Holdings Limited reported a significant downturn in its financial performance for Q2 2024, with a 34.6% decrease in net revenues and a 68.4% decline in net income attributable to shareholders compared to the same period last year. The wealth management pioneer attributes these declines primarily to decreased distribution of insurance products. Despite overall revenue setbacks, the firm saw a 40.8% increase in overseas mutual fund product distribution and a slight increase in registered clients.
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