SHANGHAI, July 24, 2017 /PRNewswire/ -- Noah Holdings
Limited ("Noah" or the "Company") (NYSE: NOAH), a leading wealth
and asset management services provider with a focus on global
wealth investment and asset allocation services for high net worth
individuals and enterprises in China, announced today that the Company
received an investment grade long-term issuer credit rating from
S&P Global Ratings ("S&P") with stable outlook, which
reflects S&P's belief that Noah will be able to maintain its
market position, prudent risk management practices, and limited
financial liabilities in the next 12-24 months. Upon receipt of
this rating, Noah has become the first Chinese wealth management
company to be rated investment grade by S&P.
"The investment grade rating received by Noah is evidence of our
commitment to financial stability and risk management prudence at a
time when the Company is growing rapidly. S&P's review further
validated our pledge to only distribute and manage products with no
guaranteed returns or undue leverage, which differentiates Noah
from many of its peers, and we also believe this effort supports
the long-term development of the broader wealth management and
asset management industries in China," said Kenny
Lam, Group President of Noah. "We see this as an excellent
step forward for Noah."
To read the full press release from Standard & Poor's please
visit:
http://now.eloqua.com/es.asp?s=302554905&e=379238&elq=16f91ebf1ae8419f9a08c6e2e0a61b79
A security rating is not a recommendation to buy, sell or
hold securities and may be subject to revision or withdrawal at any
time, and each rating should be evaluated independently of any
other rating.
ABOUT NOAH HOLDINGS LIMITED
Founded in 2005, Noah Holdings Limited (NYSE: NOAH) is a leading
wealth and asset management service provider in China with a focus on global investment and
asset allocation services for high net worth individuals and
enterprises. In the first quarter of 2017, Noah distributed
RMB32.7 billion (US$4.8 billion) of wealth management products.
Through our subsidiary, Gopher Asset Management, we had assets
under management of RMB129.6 billion
(US$18.8 billion) as of March 31, 2017.
Our wealth management business primarily distributes onshore and
offshore fixed income products, private equity products, secondary
market products and insurance products. Noah delivers customized
financial solutions to clients through a network of 1,251
relationship managers across 199 branches and sub-branches in 74
cities in China, and serves the
international investment needs of its clients through wholly owned
subsidiaries in Hong Kong and
the United States. The Company's
wealth management business had 148,505 registered clients as of
March 31, 2017. Gopher Asset
Management is a leading alternative asset manager in China, and manages private equity, real
estate, secondary market and other investments denominated in both
Renminbi and foreign currencies. We also provide internet financial
services through a proprietary internet financial service platform
targeting mass affluent individuals in China.
For more information, please visit Noah at ir.noahwm.com.
SAFE HARBOR STATEMENT
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements. Noah
may also make written or oral forward-looking statements in its
periodic reports to the U.S. Securities and Exchange
Commission, in its annual report to shareholders, in press releases
and other written materials and in oral statements made by its
officers, directors or employees to third parties. Statements that
are not historical facts, including statements about Noah's beliefs
and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. Further
information regarding these and other risks is included in Noah's
filings with the U.S. Securities and Exchange Commission,
including its annual reports on Form 20-F. All information provided
in this press release and in the attachments is as of the date of
this press release, and Noah does not undertake any obligation to
update any such information, including forward-looking statements,
as a result of new information, future events or otherwise, except
as required under the applicable law.
Contacts:
Noah Holdings Limited
Steve Zeng
Noah Holdings Limited
Tel: +86-21-8035-9221
ir@noahwm.com
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SOURCE Noah Holdings Limited