Noah holdings limited announces unaudited financial results for the first quarter of 2023

Shanghai , may 30, 2023 /prnewswire/ -- noah holdings limited ("noah" or the "company") (nyse: noah and hkex: 6686), a leading and pioneer wealth management service provider in china offering comprehensive one-stop advisory services on global investment and asset allocation primarily for high net worth investors, today announced its unaudited financial results for the first quarter of 2023. first quarter 2023 financial highlights n et revenue s for the first quarter of 2023 were rmb803.5 million (us$117.0 million), a 1.0% increase from the corresponding period in 2022, primarily due to a 72.8% increase in one-time commissions, generating from more distribution of insurance products, partially offset by a 52.1% decrease in performance-based income relating to our private secondary products.
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