Noah Holdings Provides Updates on Status of Certain Credit Funds Managed by Shanghai Gopher Asset Management
SHANGHAI, July 8, 2019 Noah Holdings Limited (Noah or the Company) (NYSE: NOAH), a leading wealth and asset management
service provider in China with a focus on high net worth individuals, is making this announcement to provide an update on the status of certain credit funds managed by Shanghai Gopher Asset Management Co., Ltd. (Shanghai Gopher Asset
Management), a consolidated affiliated entity of Noah.
In the course of their investing activities, these credit funds provided supply chain
financing involving third party companies related to Camsing International Holding Limited (Camsing), with a total principal amount of about RMB3.4 billion. The controlling shareholder of Camsing has recently been criminally
detained by the Chinese police in connection with suspected fraudulent activity. As the fund manager of these funds, Shanghai Gopher Asset Management has initiated various legal actions and is committed to taking the best course of action to fulfill
its obligations and to protect the interests of the investors of these funds.
ABOUT NOAH HOLDINGS LIMITED
Noah Holdings Limited (NYSE: NOAH) is a leading wealth and asset management service provider in China with a focus on high net worth individuals. In the first
quarter of 2019, Noah distributed RMB28.0 billion (US$4.2 billion) of financial products. Through Gopher Asset Management, the Companys asset management business, Noah had assets under management of RMB171.1 billion (US$25.5 billion)
as of March 31, 2019.
Noahs wealth management business primarily distributes credit, private equity, public securities and insurance products
denominated in RMB and other currencies. Noah delivers customized financial solutions to clients through a network of 1,496 relationship managers across 313 service centers in 83 cities in mainland China, and serves the international investment
needs of its clients through offices in Hong Kong, Taiwan, United States, Canada, Australia and Singapore. The Companys wealth management business had 274,893 registered clients as of March 31, 2019. As a leading alternative multi-asset
manager in China, Gopher Asset Management manages private equity, real estate, public securities, credit and multi-strategy investments denominated in Renminbi and other currencies. The Company also provides lending services and other services
including an online financial advisory platform and payment technology services.
For more information, please visit Noah at ir.noahgroup.com.