Noah Holdings Provides Specifics on Recent Share Repurchase Activity

Investors in Noah Holdings have gained new clarity regarding the company's capital management strategy. Recent mandatory filings with the U.S. Securities and Exchange Commission (SEC) have detailed the precise terms under which the firm has been buying back its own equity over recent weeks. Such repurchases are a critical signal to the market, as they directly impact future earnings per share and shareholder value.

In a separate filing released yesterday, Noah Holdings confirmed its capital structure as of the end of January. The total number of issued ordinary shares, adjusted for treasury stock, stands at precisely 335,258,287. The company's authorized share capital remains unchanged at one billion shares, with a par value of USD 0.00005 per share.

Transaction Details and Pricing Discipline

The buyback program, which was conducted on the New York Stock Exchange (NYSE) with the intent to cancel the repurchased shares, demonstrates management's price discipline. The transactions occurred between December 23, 2025, and January 30, 2026.

Should investors sell immediately? Or is it worth buying Noah?

• Price Range: The company acquired ordinary shares at prices between USD 1.975 and USD 2.380 each. Given that one American Depositary Share (ADS) represents five ordinary shares, this equates to an ADS price range of approximately USD 9.875 to USD 11.900.
• Sample Transaction: For instance, on January 2, 2026, Noah purchased a block of shares at a weighted average price of USD 10.39 per ADS, or USD 2.078 per ordinary share.

This activity is executed under the authorization granted by shareholders at the annual general meeting held in June 2025. The company appears to be strategically utilizing current market conditions to reduce the total number of shares outstanding.

Operational Momentum and Future Impact

These capital allocation measures coincide with operational recognition for the firm. In late January, Noah Holdings received multiple accolades at the "Wealth APAC 2025" Awards, including being named the Best Wealth Management Performer for Hong Kong and China.

The critical question for investors is whether this operational strength can be consistently translated into a higher market valuation. The cancellation of the repurchased shares will mechanically reduce the share count, thereby increasing each remaining shareholder's proportional ownership in the company. Market participants will be closely monitoring upcoming quarterly earnings reports to assess the extent to this reduction positively influences earnings per share (EPS).