Earnings call: Noah Holdings reports robust growth in 2023 earnings

Noah Holdings Limited, a leading wealth and asset management service provider in China, announced its fourth-quarter and full-year earnings for 2023, showcasing a year of growth and strategic expansion. Net revenues grew by 1% from the previous year, with a robust operating margin of 33.3%. Company Outlook Bearish Highlights Bullish Highlights Misses Q&A Highlights. In conclusion, Noah Holdings Limited has demonstrated resilience and strategic growth in its 2023 financial year. Melo Xi: I'd like to begin today's call by sharing some recent thoughts on the industry and macroeconomic landscape before I review our performance for the fourth quarter and full year and dive into our strategy going forward. Melo Xi: Looking at our financials for the year, Noah generated total revenues of RMB 3.3 billion, an increase of 6% year-on-year. I'm very delighted to announce that based on our strong and clean balance sheet and strong liquidity position and after considering the necessary investments associated with global expansion plan, the Board has approved an annual dividend of RMB 509 million for 2023, which is equivalent to 50% of the year's non-GAAP net income attributable to Noah shareholders in accordance with the capital management and shareholder return policy announced last quarter. The Board has also approved a nonrecurring special dividend for the year of RMB 509 million in total for 2023.