Noah Holdings (NOAH) Q2 FY26 earnings call

Earnings call· Jun 2026 (Q2 FY26)· Financials· Aug 26, 2026

Source: earnings call transcript

Noah Holdings' Q2 FY26 results demonstrate a successful transition towards an AI-driven operating model, yielding significant profitability improvements and AUM growth despite declining revenues from legacy businesses. The AI Wealth Management Department in Singapore achieved profitability and strong asset growth, validating the company's strategy to decouple asset growth from RM headcount. This transformation aims to build a scalable, efficient global wealth management platform, with continued focus on cost discipline and shareholder returns.

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NOAH operating KPIs by quarter

NOAH operating KPIs stated on its earnings calls, by fiscal quarter
KPI	Mar 2026 Q1 FY26	This call Jun 2026 Q2 FY26	Change vs prior quarter
Overseas registered clients	20.373K As of March 31, overseas registered clients reached 20,373, up 11.9% year-over-year. Source: earnings call transcript	21.059K As of end June, registered overseas clients reached 21,059, up 11% year-over-year. Source: earnings call transcript	+3.4%
Diamond and Black Card clients Overseas	1,781 Overseas, Diamond and Black Card clients reached 1,781, up 3.8% quarter-over-quarter, reflecting continued traction in overseas markets. Source: earnings call transcript	1,791 Overseas diamond and black card clients reached 1,791, up 8.9%. Source: earnings call transcript	+0.6%

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.