{"id":829737,"date":"2025-03-25T17:03:44","date_gmt":"2025-03-25T21:03:44","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/noah-holdings-limited-announces-unaudited-financial-results-for-the-fourth-quarter-2024-and-audited-financial-results-for-full-year-2024\/"},"modified":"2025-03-25T17:03:44","modified_gmt":"2025-03-25T21:03:44","slug":"noah-holdings-limited-announces-unaudited-financial-results-for-the-fourth-quarter-2024-and-audited-financial-results-for-full-year-2024","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/noah-holdings-limited-announces-unaudited-financial-results-for-the-fourth-quarter-2024-and-audited-financial-results-for-full-year-2024\/","title":{"rendered":"NOAH HOLDINGS LIMITED ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE FOURTH QUARTER 2024 AND AUDITED FINANCIAL RESULTS FOR FULL YEAR 2024"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"legendSpanClass\"><br \/>\n          <span class=\"xn-location\">SHANGHAI<\/span><br \/>\n        <\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">March 25, 2025<\/span><\/span> \/PRNewswire\/ &#8212; Noah Holdings Limited (&#8220;Noah&#8221; or the &#8220;Company&#8221;) (NYSE: NOAH and HKEX: 6686), a leading and pioneer wealth management service provider offering comprehensive one-stop advisory services on global investment and asset allocation primarily for Mandarin-speaking high-net-worth investors, today announced its unaudited financial results for the fourth quarter of 2024 and the audited financial results for the full year ended <span class=\"xn-chron\">December 31, 2024<\/span>.<\/p>\n<p>\n        <b>FOURTH QUARTER 2024 FINANCIAL HIGHLIGHTS<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>\n          <b>Net revenues <\/b>for the fourth quarter of 2024 were <span class=\"xn-money\">RMB651.9 million<\/span> (<span class=\"xn-money\">US$89.3 million<\/span>), an 18.5% decrease from the corresponding period in 2023 and a 4.6% decrease sequentially, mainly due to a decrease in distribution of insurance products.<\/li>\n<\/ul>\n<p class=\"prnml40\">Net revenues from mainland <span class=\"xn-location\">China<\/span> for the fourth\u00a0quarter of 2024 were <span class=\"xn-money\">RMB362.1 million<\/span> (<span class=\"xn-money\">US$49.6 million<\/span>), effectively flat when compared with the corresponding period in 2023. Net revenues from mainland <span class=\"xn-location\">China<\/span> increased by 18.0% compared with the third quarter of 2024, mainly due to a 200.0% increase in distribution of public securities products amid stock market surges beginning from late September.<\/p>\n<p class=\"prnml40\">Net revenues from overseas for the fourth\u00a0quarter of 2024 were <span class=\"xn-money\">RMB289.8 million<\/span> (<span class=\"xn-money\">US$39.7 million<\/span>), a 32.0% decrease from the corresponding period in 2023 and a 23.1% decrease sequentially, primarily due to decreases of revenue from distribution of overseas insurance products. Meanwhile the distribution of private equity products\u00a0increased by 116.7% compared with the fourth quarter of 2023.<\/p>\n<ul type=\"disc\">\n<li>Starting from the fourth quarter of 2024, the Company discloses net revenues for each domestic and overseas business segment<sup>[1]<\/sup>. The Company believes that this will better reflect its recent operational adjustments and organizational restructuring, providing investors with a clearer understanding of the financial performance and strategic progress of each business segment:\n<ul type=\"disc\">\n<li><b><i>Domestic public securities<sup><b>[2]<\/b><\/sup><\/i><\/b>is the business that distributes mutual funds and private secondary products. Net revenues for the fourth quarter of 2024 were <span class=\"xn-money\">RMB146.2 million<\/span> (<span class=\"xn-money\">US$20.0 million<\/span>).<\/li>\n<li><b><i>Domestic asset management<sup><b>[3]<\/b><\/sup><\/i><\/b> is the business that manages RMB-denominated private equity funds and private secondary products. Net revenues for the fourth quarter of 2024 were <span class=\"xn-money\">RMB198.7 million<\/span> (<span class=\"xn-money\">US$27.2 million<\/span>).<\/li>\n<li><b><i>Domestic insurance<sup><b>[4]<\/b><\/sup><\/i><\/b> is the business that distributes insurance products, consisting mainly of life and health insurance products. Net revenues for the fourth quarter of 2024 were <span class=\"xn-money\">RMB3.9 million<\/span> (<span class=\"xn-money\">US$0.5 million<\/span>).<\/li>\n<li><b><i>Overseas wealth management<sup><b>[5]<\/b><\/sup><\/i><\/b> is the business that provides offline and online wealth management services. Net revenues for the fourth quarter of 2024 were <span class=\"xn-money\">RMB156.6 million<\/span> (<span class=\"xn-money\">US$21.5 million<\/span>).<\/li>\n<li><b><i>Overseas asset management<sup><b>[6]<\/b><\/sup><\/i><\/b> is the business that manages USD-denominated private equity funds and private secondary products. Net revenues for the fourth quarter of 2024 were <span class=\"xn-money\">RMB101.4 million<\/span> (<span class=\"xn-money\">US$13.9 million<\/span>).<\/li>\n<li><b><i>Overseas insurance and comprehensive services<sup><b>[7]<\/b><\/sup><\/i><\/b> is the business that provides comprehensive overseas services such as insurance, trust services and other services. Net revenues for the fourth quarter of 2024 were <span class=\"xn-money\">RMB31.9 million<\/span> (<span class=\"xn-money\">US$4.4 million<\/span>).<\/li>\n<li><b><i>Headquarters<\/i><\/b> reflects revenue generated from corporate operations at the Company&#8217;s headquarters in <span class=\"xn-location\">Shanghai<\/span> as well as administrative costs and expenses that were not directly allocated to the aforementioned six business segments. Net revenues during the fourth quarter of 2024 were <span class=\"xn-money\">RMB13.2 million<\/span> (<span class=\"xn-money\">US$1.8 million<\/span>).<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>\n        <b>Net Revenues under the segmentation adopted in Q4 2024 is as follows:<\/b>\n      <\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(RMB millions)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Q4 2024<sup>[8]<\/sup><\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Domestic public securities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">146.2<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Domestic asset management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">198.7<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Domestic insurance<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3.9<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Overseas wealth management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">156.6<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Overseas asset management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">101.4<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Overseas insurance and comprehensive services<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">31.9<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Headquarters<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">13.2<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total net revenues<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">651.9<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p>\n        <b>Net Revenues under the traditional segmentation is as follows:<\/b>\n      <\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(RMB millions, <\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>except percentages)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Q4 2023<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Q4 2024<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">YoY Change<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Wealth management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">610.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">457.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(25.1\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Asset management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">186.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">185.7<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.2\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Other businesses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3.0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">8.8<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">192.6\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total net revenues<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">799.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">651.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(18.5\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p>\n        <b>Net Revenues by geography is as follows:<\/b>\n      <\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(RMB millions, <\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>except percentages)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Q4 2023<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Q4 2024<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">YoY Change<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Mainland China<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">373.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">362.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3.0\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Overseas<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">426.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">289.8<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(32.0\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total net revenues<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">799.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">651.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(18.5\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<ul type=\"disc\">\n<li>\n          <b>Income from operations<\/b> for the fourth quarter of 2024 was <span class=\"xn-money\">RMB137.6 million<\/span> (<span class=\"xn-money\">US$18.8 million<\/span>), a 37.7% decrease from the corresponding period in 2023 and a decrease of 42.9% sequentially, primarily due to a decrease in net revenues.<\/li>\n<\/ul>\n<p>\n        <b>Income from operations under the traditional segmentation is as follows:<\/b>\n      <\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(RMB millions, <\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>except percentages)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Q4 2023<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Q4 2024<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">YoY Change<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Wealth management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">150.7<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">74.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(50.7\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Asset management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">95.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">94.0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1.6\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Other businesses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(25.5)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(30.7)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">20.6\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total income from operations<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">220.7<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">137.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(37.7\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<ul type=\"disc\">\n<li>\n          <b>Net income attributable to Noah shareholders<\/b> for the fourth quarter of 2024 was <span class=\"xn-money\">RMB109.8 million<\/span> (<span class=\"xn-money\">US$15.0 million<\/span>), a 49.3% decrease from the corresponding period in 2023, primarily due to a 37.7% decrease in income from operations, a 183.6% increase in income tax expenses associated with a dividend withholding tax for offshore dividend payments from PRC subsidiaries, and losses relating to investments in affiliates. Net income attributable to Noah shareholders decreased by 18.3% sequentially, primarily due to a 42.9% decrease in income from operations, partially offset by a 35.7% increase from interest income and <span class=\"xn-money\">RMB43.8 million<\/span> (<span class=\"xn-money\">US$6.0 million<\/span>) of other income relating to foreign exchange gains.<\/li>\n<li>\n          <b>Non-GAAP<sup><b>[9]<\/b><\/sup> net income attributable to Noah shareholders<\/b> for the fourth quarter of 2024 was <span class=\"xn-money\">RMB132.4 million<\/span> (<span class=\"xn-money\">US$18.1 million<\/span>), a 43.3% decrease from the corresponding period in 2023 and a 12.0% decrease from the third quarter of 2024.<\/li>\n<\/ul>\n<p>\n        <b>FULL YEAR 2024 FINANCIAL HIGHLIGHTS<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>\n          <b>N<\/b><br \/>\n          <b>et revenue<\/b><br \/>\n          <b>s<\/b> in the full year 2024 were <span class=\"xn-money\">RMB2,601.0 million<\/span> (<span class=\"xn-money\">US$356.3 million<\/span>), a 21.1% decrease from 2023, mainly due to a decrease in distribution of insurance products.<\/li>\n<\/ul>\n<p class=\"prnml40\">Net revenues from mainland <span class=\"xn-location\">China<\/span> in the full year 2024 were <span class=\"xn-money\">RMB1,348.9 million<\/span> (<span class=\"xn-money\">US$184.8 million<\/span>), a 27.5% decrease from the corresponding period in 2023, primarily due to decreases in revenue from distribution of domestic insurance products and recurring service fees from private equity products.<\/p>\n<p class=\"prnml40\">Net revenues from overseas in the full year 2024 were <span class=\"xn-money\">RMB1,252.1 million<\/span> (<span class=\"xn-money\">US$171.5 million<\/span>), a 12.7% decrease from the corresponding period in 2023, primarily due to a decrease of 21.9% in revenue from overseas insurance products distribution and a decrease of 36.9% in revenue from other services provided to offshore high-net-worth investors, which were partially offset by an increase of 5.1% in recurring service fees from the Company&#8217;s expanding overseas investment products portfolio.<\/p>\n<p>\n        <b>Net Revenues under the segmentation adopted in Q4 2024 is as follows: <\/b>\n      <\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(RMB millions)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">FY 2024<sup>[10]<\/sup><\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Domestic public securities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">488.7<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Domestic asset management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">772.1<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Domestic insurance<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">42.9<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Overseas wealth management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">674.7<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Overseas asset management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">438.5<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Overseas insurance and comprehensive services<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">138.9<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Headquarters<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">45.2<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total net revenues<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,601.0<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p>\n        <b>Net Revenues under the traditional segmentation is as follows:<\/b>\n      <\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(RMB millions, <\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>except percentages)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">FY\u00a0 2023<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">FY\u00a0 2024<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">YoY Change<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Wealth management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,491.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,800.7<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(27.7\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Asset management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">766.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">767.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.2\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Other businesses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">37.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">32.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(11.7\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total net revenues<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,294.7<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,601.0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(21.1\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p>\n        <b>Net Revenues by geography is as follows:<\/b>\n      <\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(RMB millions, <\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>except percentages)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">FY 2023<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">FY 2024<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">YoY Change<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Mainland China<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,861.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,348.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(27.5\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Overseas<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,433.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,252.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(12.7\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total net revenues<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,294.7<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,601.0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(21.1\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<ul type=\"disc\">\n<li>\n          <b>Income from operations<\/b> in the full year 2024 was <span class=\"xn-money\">RMB633.9 million<\/span> (<span class=\"xn-money\">US$86.8 million<\/span>), a 42.3% decrease from 2023, mainly due to (i) a 21.1% decrease in net revenues and (ii) a 48.6% decrease in government subsidies, partially offset by (i) a 7.4% decrease in total compensation and benefits and (ii) a 44.6% decrease in selling expenses.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li>\n          <b>Income from operations <\/b><br \/>\n          <b>under the traditional segmentation<\/b><br \/>\n          <b> is as follows:<\/b>\n        <\/li>\n<\/ul>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(RMB millions, <\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>except percentages)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">FY\u00a0 2023<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">FY\u00a0 2024<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">YoY Change<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Wealth management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">809.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">344.0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(57.5\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Asset management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">386.7<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">387.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.3\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Other businesses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(98.6)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(98.0)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.6\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total income from operations<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,097.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">633.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(42.3\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<ul type=\"disc\">\n<li>\n          <b>Net income attributable to Noah shareholders<\/b> in the full year 2024 was <span class=\"xn-money\">RMB475.4 million<\/span> (<span class=\"xn-money\">US$65.1 million<\/span>), a 52.9% decrease from 2023, mainly due to a 42.3% decrease in income from operations and a loss from equity in affiliates recorded in 2024.<\/li>\n<li>\n          <b>Non-GAAP net income attributable to Noah shareholders<\/b> in the full year 2024 was <span class=\"xn-money\">RMB550.2 million<\/span> (<span class=\"xn-money\">US$75.4 million<\/span>), a 46.0% decrease from 2023.<\/li>\n<\/ul>\n<p>\n        <b>FOURTH QUARTER AND FULL YEAR 2024 OPERATIONAL UPDATES<\/b>\n      <\/p>\n<p>\n        <b>Wealth Management Business<\/b>\n      <\/p>\n<p>Noah offers global investment products and provides value-added services to global Mandarin-speaking high-net-worth investors in its wealth management business. Noah primarily distributes private equity, private secondary, mutual funds and other products denominated in RMB, USD and other currencies.<\/p>\n<ul type=\"disc\">\n<li>\n          <b>Total number of registered clients<\/b> as of <span class=\"xn-chron\">December 31, 2024<\/span> was 462,049, a 1.4% increase from <span class=\"xn-chron\">December 31, 2023<\/span> and a 0.4% increase from <span class=\"xn-chron\">September 30, 2024<\/span>. Among registered clients as of <span class=\"xn-chron\">December 31, 2024<\/span>, the number of overseas registered clients was 17,654, a 18.3% increase from <span class=\"xn-chron\">December 31, 2023<\/span>, and a 2.1% increase from <span class=\"xn-chron\">September 30, 2024<\/span>.<\/li>\n<li>\n          <b>Total number of active clients<sup><b>[11]<\/b><\/sup><\/b>for the fourth quarter of 2024 was 8,862, a decrease of 1.9% from the fourth quarter of 2023 and a 12.8% increase from the third quarter of 2024. Among active clients during the fourth quarter of 2024, the number of overseas active clients was 2,914, a 15.8% increase from the fourth quarter of 2023 and a 7.2% decrease from the third quarter of 2024.<b>Total number of active clients <\/b>in the full year 2024 was 17,210, a decrease of 23.4% from 2023. Among active clients during the full year 2024, the number of overseas active clients was 5,544, a 19.8% increase from 2023.<\/li>\n<li>\n          <b>A<\/b><br \/>\n          <b>ggregate value of <\/b><br \/>\n          <b>investment products<\/b><br \/>\n          <b> distributed <\/b>during the fourth quarter of 2024 was <span class=\"xn-money\">RMB16.3 billion<\/span> (<span class=\"xn-money\">US$2.2 billion<\/span>), a 1.7% decrease from the corresponding period in 2023. The aggregate value of investment products distributed increased by 14.0% sequentially, mainly due to an increase in distribution of private secondary products and mutual fund products. Among the investment products distributed during the fourth quarter of 2024, Noah distributed <span class=\"xn-money\">RMB7.1 billion<\/span> (<span class=\"xn-money\">US$1.0 billion<\/span>) of overseas investment products, a 19.7% increase from the corresponding period of 2023, primarily due to a 60.7% and 116.7% increase in distribution of overseas mutual fund products and private equity products, respectively.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li>\n          <b>The aggregate value of investment products distributed, categorized by product type, is as follows:<\/b>\n        <\/li>\n<\/ul>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"7\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Three months ended December 31,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen19\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2023<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen19\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2024<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"7\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(RMB in billions, except percentages)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Mutual fund products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">10.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">66.0\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">9.8<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">60.1\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Private secondary products\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">25.1\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4.7<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">28.8\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Private equity products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.7<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4.3\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">8.0\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Other products<sup><b><b>[12]<\/b><\/b><\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.7<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4.6\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3.1\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>All products <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>16.5<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100.0\u00a0%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>16.3<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100.0\u00a0%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>The aggregate value of investment products distributed, categorized by geography, is as follows<\/b><br \/>\n        <b>\uff1a<\/b>\n      <\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Type of products in mainland China<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"7\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Three months ended December 31,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen19\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2023<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen19\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2024<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"7\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(RMB in billions, except percentages)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Mutual fund products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">8.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">84.0\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">71.7\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Private secondary products\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">14.2\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">26.1\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Private equity products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.9\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Other products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.9\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.2\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>All products in mainland China <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>10.6<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100.0\u00a0%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>9.2<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100.0\u00a0%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Type of overseas products<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"7\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Three months ended December 31,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen19\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2023<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen19\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2024<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"7\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(RMB in billions, except percentages)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Mutual fund products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">33.8\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">45.1\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Private secondary products\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.7<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">45.8\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">32.4\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Private equity products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">10.2\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">18.3\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Other products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">10.2\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4.2\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>All Overseas products<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>5.9<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100.0\u00a0%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>7.1<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100.00\u00a0%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<ul type=\"disc\">\n<li>\n          <b>Aggregate value of <\/b><br \/>\n          <b>investment products<\/b><br \/>\n          <b> distributed <\/b>during the full year 2024 was <span class=\"xn-money\">RMB63.9 billion<\/span> (<span class=\"xn-money\">US$8.8 billion<\/span>), a 13.8% decrease from 2023, primarily due to a 35.3% decrease in distribution of domestic mutual fund products. Among the investment products distributed during the full year 2024, Noah distributed <span class=\"xn-money\">RMB31.1 billion<\/span> (<span class=\"xn-money\">US$4.3 billion<\/span>) of overseas investment products, a 30.7% increase from the corresponding period of 2023, primarily due to a 69.5% and 77.8% increase in distribution of overseas mutual fund products and private equity products, respectively.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li>\n          <b>The aggregate value of investment products distributed, categorized by product type, is as follows:<\/b>\n        <\/li>\n<\/ul>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"7\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Twelve<\/b><br \/>\n                  <b>\u00a0months ended December 31,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen19\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2023<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen19\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2024<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"7\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(RMB in billions, except percentages)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Mutual fund products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">47.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">64.6\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">39.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">62.0\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Private secondary products\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">18.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">24.8\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">16.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">25.3\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Private equity products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4.5\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4.8<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">7.5\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Other products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6.1\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">5.2\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>All products <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>74.1<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100.0\u00a0%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>63.9<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100.0\u00a0%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>The aggregate value of investment products distributed, categorized by geography, is as follows<\/b><br \/>\n        <b>\uff1a<\/b>\n      <\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Type of products in mainland China<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"7\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Twelve<\/b><br \/>\n                  <b>\u00a0months ended December 31,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen19\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2023<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen19\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2024<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"7\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(RMB in billions, except percentages)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Mutual fund products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">39.7<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">78.9\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">25.7<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">78.4\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Private secondary products\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">7.8<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">15.5\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">5.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">16.4\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Private equity products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.2\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Other products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4.4\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.7<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">5.2\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>All products in mainland China <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>50.3<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100.0\u00a0%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>32.8<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100.0\u00a0%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Type of overseas products<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"7\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Twelve<\/b><br \/>\n                  <b>\u00a0months ended December 31,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen19\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2023<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen19\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2024<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"7\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(RMB in billions, except percentages)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Mutual fund products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">8.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">34.5\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">13.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">44.8\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Private secondary products\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">10.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">44.5\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">10.8<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">34.7\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Private equity products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.7<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">11.3\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4.8<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">15.4\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Other products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">9.7\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">5.1\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>All Overseas products<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>23.8<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100.0\u00a0%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>31.1<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100.0\u00a0%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<ul type=\"disc\">\n<li>\n          <b>C<\/b><br \/>\n          <b>overage network<\/b> in mainland <span class=\"xn-location\">China<\/span> included 11 cities as of <span class=\"xn-chron\">December 31, 2024<\/span>, compared with 44 cities as of <span class=\"xn-chron\">December 31, 2023<\/span>, and 13 cities as of <span class=\"xn-chron\">September 30, 2024<\/span>, primarily due to the continued streamlining of the Company&#8217;s domestic coverage network.<\/li>\n<li>\n          <b>Aggregate number of overseas relationship managers<\/b> was 138 as of <span class=\"xn-chron\">December 31, 2024<\/span>, an increase of 55.1% from <span class=\"xn-chron\">December 31, 2023<\/span>, and a decrease of 5.5% from <span class=\"xn-chron\">September 30, 2024<\/span>.<\/li>\n<\/ul>\n<p>\n        <b>Asset Management Business<\/b>\n      <\/p>\n<p>Noah&#8217;s asset management business is conducted through Gopher Asset Management Co., Ltd. (&#8220;Gopher Asset Management&#8221;), a leading multi-asset manager in <span class=\"xn-location\">China<\/span>, and Olive Asset Management Co., Ltd. (&#8220;Olive Asset Management&#8221;), the Company&#8217;s recently launched overseas asset management brand focused on providing global investment solutions with offices in <span class=\"xn-location\">Hong Kong<\/span> and <span class=\"xn-location\">the United States<\/span>. Gopher Asset Management and Olive Asset Management develop and manage assets ranging from private equity, real estate, public securities to multi-strategy investments denominated in RMB, USD and other currencies.<\/p>\n<ul type=\"disc\">\n<li>\n          <b>Total assets under management <\/b>as of <span class=\"xn-chron\">December 31, 2024<\/span> remained stable at <span class=\"xn-money\">RMB151.5 billion<\/span> (<span class=\"xn-money\">US$20.8 billion<\/span>), compared with <span class=\"xn-money\">RMB150.1 billion<\/span> as of <span class=\"xn-chron\">September 30, 2024<\/span> and <span class=\"xn-money\">RMB154.6 billion<\/span> as of <span class=\"xn-chron\">December 31, 2023<\/span>, mainly due to exchange rate fluctuations affecting the value of overseas assets under management.<\/li>\n<\/ul>\n<p class=\"prnml40\">Mainland <span class=\"xn-location\">China<\/span> assets under management as of <span class=\"xn-chron\">December 31, 2024<\/span> were <span class=\"xn-money\">RMB108.9 billion<\/span> (<span class=\"xn-money\">US$14.9 billion<\/span>), compared with <span class=\"xn-money\">RMB118.6 billion<\/span> as of <span class=\"xn-chron\">December 31, 2023<\/span>, and <span class=\"xn-money\">RMB110.6 billion<\/span> as of <span class=\"xn-chron\">September 30, 2024<\/span>.<\/p>\n<p class=\"prnml40\">Overseas assets under management as of <span class=\"xn-chron\">December 31, 2024<\/span> were <span class=\"xn-money\">RMB42.6 billion<\/span> (<span class=\"xn-money\">US$5.8 billion<\/span>), compared with <span class=\"xn-money\">RMB36.0 billion<\/span> as of <span class=\"xn-chron\">December 31, 2023<\/span>, and <span class=\"xn-money\">RMB39.5 billion<\/span> as of <span class=\"xn-chron\">September 30, 2024<\/span>.<\/p>\n<p>\n        <b>Total assets under management, categorized by investment type, are as follows:<\/b>\n      <\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Investment type<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As of\u00a0<br \/>September 30,\u00a0<br \/>2024<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <br \/>Growth<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <br \/>Allocation\/<br \/>Redemption<\/b><br \/>\n                  <sup><br \/>\n                    <b><br \/>\n                      <b>[13]<\/b><br \/>\n                    <\/b><br \/>\n                  <\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As of<br \/><\/b><br \/>\n                  <b>December\u00a031,\u00a0<br \/>2024<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"11\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(RMB billions, except percentages)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Private equity<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">130.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">86.7\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1.0)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">131.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">86.8\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Public securities<sup><b><b>[14]<\/b><\/b><\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">9.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6.6\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">9.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6.2\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Real estate<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">5.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3.7\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.6)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4.1\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Multi-strategies<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.7\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.6\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.3\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.3\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>All Investments<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>150.1<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100.0\u00a0%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1.9<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.5<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>151.5<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100.0\u00a0%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Investment type<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As of\u00a0<br \/><\/b><br \/>\n                  <b>December\u00a031,\u00a0<br \/>2023<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <br \/>Growth<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <br \/>Allocation\/<br \/>Redemption<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As of<br \/><\/b><br \/>\n                  <b>December\u00a031,\u00a0<br \/>2024<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"11\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(RMB billions, except percentages)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Private equity<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">132.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">85.5\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">131.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">86.8\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Public securities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">11.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">7.4\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">8.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">11.0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">9.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6.2\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Real estate<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4.0\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4.1\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Multi-strategies<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.8\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.6\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.3\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.3\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>All Investments<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>154.6<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100.0\u00a0%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>12.1<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>15.2<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>151.5<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100.0\u00a0%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p>\n        <b>Total assets under management, categorized by geography, are as follows:<\/b>\n      <\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Mainland China<br \/>Investment type<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As of\u00a0<br \/>September 30,\u00a0<br \/>2024<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <br \/>Growth<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Allocation\/<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Redemption<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As of<br \/>December\u00a031,\u00a0<br \/>2024<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"11\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(RMB billions, except percentages)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Private equity<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">100.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">90.5\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">98.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">90.5\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Public securities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">5.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">5.0\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">5.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4.9\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Real estate<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.0\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.0\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Multi-strategies<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.0\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.1\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.5\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.5\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>All Investments<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>110.6<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100.0\u00a0%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.4<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2.1<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>108.9<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100.0\u00a0%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Mainland China<br \/>Investment type<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As of\u00a0<br \/><\/b><br \/>\n                  <b>December\u00a031,\u00a0<br \/>2023<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <br \/>Growth<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Allocation\/<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Redemption<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As of<br \/>December\u00a031,\u00a0<br \/>2024<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"11\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(RMB billions, except percentages)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Private equity<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">105.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">88.7\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">98.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">90.5\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Public securities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">7.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6.0\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.8<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">5.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4.9\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Real estate<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.7\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.0\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Multi-strategies<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.2\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.1\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.4\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.5\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>All Investments<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>118.6<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100.0\u00a0%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1.1<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>10.8<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>108.9<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100.0\u00a0%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Overseas<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Investment type<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As of\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>September 30,\u00a0<br \/>2024<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <br \/>Growth<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Allocation\/<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Redemption<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As of<br \/>December\u00a031,\u00a0<br \/>2024<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"11\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(RMB billions, except percentages)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Private equity<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">30.0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">75.9\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2.5)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">32.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">77.2\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Public securities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">11.1\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">9.6\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Real estate<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">8.4\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.6)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4.0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">9.4\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Multi-strategies<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.8<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4.6\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3.8\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>All Investments<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>39.5<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100.0\u00a0%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1.5<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen22\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(1.6)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>42.6<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100.0\u00a0%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Overseas<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Investment type<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As of\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>December\u00a031,,\u00a0<br \/>2023<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <br \/>Growth<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Allocation\/<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Redemption<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As of<br \/>December\u00a031,\u00a0<br \/>2024<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"11\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(RMB billions, except percentages)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Private equity<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">27.0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">75.1\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3.3)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">32.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">77.2\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Public securities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">12.2\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">7.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">8.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">9.6\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Real estate<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3.0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">8.3\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.5)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4.0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">9.4\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Multi-strategies<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4.4\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3.8\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>All Investments<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>36.0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100.0\u00a0%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>11.0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>4.4<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>42.6<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100.0\u00a0%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p>\n        <b>Other Businesses<\/b>\n      <\/p>\n<p>Noah&#8217;s other businesses mainly include providing clients with additional comprehensive services and investment products. Operating results for other businesses (under the Company&#8217;s traditional segmentation) also include headquarters rental income, depreciation and amortization, as well as operating expenses.<\/p>\n<p>Ms. <span class=\"xn-person\">Jingbo Wang<\/span>, co-founder and chairwoman of Noah, commented, &#8220;As we close out 2024, I am proud of the significant progress we&#8217;ve made in transforming and adapting ourselves over the past year. Leveraging our expertise in alternative investments and extensive network of Mandarin-speaking HNWIs, we are determined to not only grow in tandem with our clients as they venture overseas but also expand our business internationally to target underserved new and established Mandarin-speaking immigrants in those markets. With our client base and infrastructure growing globally, our international expansion is gaining significant growth momentum. This is clearly reflected in our financial performance for the year where overseas revenue accounted for 48% of total revenues, transaction value of overseas products increased 30% to <span class=\"xn-money\">US$4.3 billion<\/span>, and overseas assets under management increased 18% to <span class=\"xn-money\">US$5.8 billion<\/span> when compared to last year.&#8221;<\/p>\n<p>&#8220;We launched new internationally-focused brands during the year that will lead our efforts to not only service existing clients but also facilitate engagement with new clients in <span class=\"xn-location\">Southeast Asia<\/span>, <span class=\"xn-location\">Canada<\/span>, and <span class=\"xn-location\">Japan<\/span>. Our team of overseas relationship managers grew to 138 in 2024, who are driving this expansion by blending our wealth management, asset management, and integrated global inheritance services to craft comprehensive global solutions that address the specific needs of each target client segment.&#8221;<\/p>\n<p>&#8220;As we enter 2025, we are poised to build on the momentum we picked up last year where our strategic focus will be squarely on expanding our client base both domestically and internationally. The global infrastructure we are building will deepen our reach into markets with large Mandarin-speaking communities globally, significantly expanding opportunities to acquire new clients with our competitive investment solutions and renowned service standards, and will drive long-term sustainable growth going forward. We recognize that we are still in the early stages of this global expansion and place significant value on delivering sustained returns to the shareholders who join us for this journey. We are committed to sharing our success going forward and are pleased to announce that the Board has approved an annual dividend and a special dividend, which together amount to <span class=\"xn-money\">RMB550 million<\/span>, equivalent to 100% of our full-year 2024 non-GAAP net income attributable to Noah shareholders.&#8221;<\/p>\n<p>\n        <b>FOURTH QUARTER 2024 FINANCIAL RESULTS<sup><b>[15]<\/b><\/sup><\/b>\n      <\/p>\n<p>\n        <b><br \/>\n          <i>Net Revenues<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>\n        <b>Net revenues<\/b> for the fourth quarter of 2024 were <span class=\"xn-money\">RMB651.9 million<\/span> (<span class=\"xn-money\">US$89.3 million<\/span>), an 18.5% decrease from the corresponding period in 2023.<\/p>\n<ul type=\"disc\">\n<li>\n          <b>Wealth Management Business<\/b><\/p>\n<ul type=\"disc\">\n<li>\n              <b>Net revenues from one-time commissions<\/b> for the fourth quarter of 2024 were <span class=\"xn-money\">RMB133.8 million<\/span> (<span class=\"xn-money\">US$18.3 million<\/span>), a 56.3% decrease from the corresponding period in 2023, primarily due to a decrease in distribution of overseas insurance products.<\/li>\n<li>\n              <b>Net revenues from recurring service fees<\/b> for the fourth quarter of 2024 were <span class=\"xn-money\">RMB248.7 million<\/span> (<span class=\"xn-money\">US$34.1 million<\/span>), a 1.8% decrease from the corresponding period in 2023.<\/li>\n<li>\n              <b>Net revenues from performance-based income<\/b> for the fourth quarter of 2024 were <span class=\"xn-money\">RMB34.6 million<\/span> (<span class=\"xn-money\">US$4.7 million<\/span>), compared with <span class=\"xn-money\">RMB0.1 million<\/span> in the corresponding period of 2023, primarily due to an increase in performance-based income from public securities products.<\/li>\n<li>\n              <b>Net revenues from other service fees<\/b> for the fourth quarter of 2024 were <span class=\"xn-money\">RMB40.2 million<\/span> (<span class=\"xn-money\">US$5.5 million<\/span>), a 20.2% decrease from the corresponding period in 2023, primarily due to a decrease in the value-added services offered to high-net-worth clients.<\/li>\n<\/ul>\n<\/li>\n<li>\n          <b>Asset Management Business<\/b><\/p>\n<ul type=\"disc\">\n<li>\n              <b>Net revenues from recurring service fees <\/b>for the fourth quarter of 2024 were <span class=\"xn-money\">RMB170.4 million<\/span> (<span class=\"xn-money\">US$23.3 million<\/span>), a 2.3% decrease from the corresponding period in 2023.<\/li>\n<li>\n              <b>Net revenues from performance-based income <\/b>for the fourth quarter of 2024 were <span class=\"xn-money\">RMB14.5 million<\/span> (<span class=\"xn-money\">US$2.0 million<\/span>), a 23.4% increase from the corresponding period in 2023, primarily due to an increase in performance-based income from real estate managed by Olive Asset Management.<\/li>\n<\/ul>\n<\/li>\n<li>\n          <b>Other Businesses<\/b><\/p>\n<ul type=\"disc\">\n<li>\n              <b>Net revenues <\/b>for the fourth quarter of 2024 were <span class=\"xn-money\">RMB8.8 million<\/span> (<span class=\"xn-money\">US$1.2 million<\/span>), compared with <span class=\"xn-money\">RMB3.0 million<\/span> in the corresponding period in 2023.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>\n        <b><br \/>\n          <i>Operating Costs and Expenses<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>\n        <b>Operating<\/b><br \/>\n        <b>\u00a0costs and<\/b><br \/>\n        <b>\u00a0expenses<\/b>\u00a0for the fourth quarter of 2024 were <span class=\"xn-money\">RMB514.3 million<\/span> (<span class=\"xn-money\">US$70.5 million<\/span>), an 11.1% decrease from the corresponding period in 2023. Operating costs and expenses primarily consisted of (i) compensation and benefits of <span class=\"xn-money\">RMB353.7 million<\/span> (<span class=\"xn-money\">US$48.5 million<\/span>); (ii) selling expenses of <span class=\"xn-money\">RMB78.9 million<\/span> (<span class=\"xn-money\">US$10.8 million<\/span>); (iii) general and administrative expenses of <span class=\"xn-money\">RMB73.5 million<\/span> (<span class=\"xn-money\">US$10.1 million<\/span>); (iv) provision for credit losses of <span class=\"xn-money\">RMB18.9 million<\/span> (<span class=\"xn-money\">US$2.6 million<\/span>); and (v) other operating expenses of <span class=\"xn-money\">RMB17.2 million<\/span> (<span class=\"xn-money\">US$2.4 million<\/span>).<\/p>\n<ul type=\"disc\">\n<li>\n          <b>Operating costs and expenses<\/b><br \/>\n          <b>for the wealth management business<\/b> for the fourth quarter of 2024 were <span class=\"xn-money\">RMB383.1 million<\/span> (<span class=\"xn-money\">US$52.5 million<\/span>), a 16.7% decrease from the corresponding period in 2023, primarily due to decreases of 52.8% in selling expenses and 34.5% in general and administrative expenses and partially offset by an increase in compensation and benefits relating to new grant of restricted share units to employees.<\/li>\n<li>\n          <b>Operating costs and expenses<\/b><br \/>\n          <b>for the asset management business<\/b> for the fourth quarter of 2024 were <span class=\"xn-money\">RMB91.8 million<\/span> (<span class=\"xn-money\">US$12.6 million<\/span>), a 1.2% increase from the corresponding period in 2023.<\/li>\n<li>\n          <b>Operating costs and expenses<\/b><br \/>\n          <b>for other businesses<\/b> for the fourth quarter of 2024 were <span class=\"xn-money\">RMB39.5 million<\/span> (<span class=\"xn-money\">US$5.4 million<\/span>), a 38.7% increase from the corresponding period in 2023, due to an increase in recorded credit losses.<\/li>\n<\/ul>\n<p>\n        <b><br \/>\n          <i>Operating Margin<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>\n        <b>Operating margin <\/b>for the fourth quarter of 2024 was 21.1%, compared with 27.6% for the corresponding period in 2023.<\/p>\n<ul type=\"disc\">\n<li>\n          <b>Operating margin for the wealth management business<\/b> for the fourth quarter of 2024 was 16.3%, compared with 24.7% for the corresponding period in 2023.<\/li>\n<li>\n          <b>Operating margin<\/b><br \/>\n          <b>for the asset management business<\/b> for the fourth quarter of 2024 was 50.6%, compared with 51.3%% for the corresponding period in 2023.<\/li>\n<li>\n          <b>Loss <\/b><br \/>\n          <b>from other businesses<\/b> for the fourth quarter of 2024 was <span class=\"xn-money\">RMB30.7 million<\/span> (<span class=\"xn-money\">US$4.2 million<\/span>), compared with <span class=\"xn-money\">RMB25.5 million<\/span> in the corresponding period of 2023, primarily due to an increase in provision for credit losses.<\/li>\n<\/ul>\n<p>\n        <b><br \/>\n          <i>Interest Income<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>\n        <b>Interest income<\/b> for the fourth quarter of 2024 was <span class=\"xn-money\">RMB38.6 million<\/span> (<span class=\"xn-money\">US$5.3 million<\/span>), a 13.1% decrease from the corresponding period in 2023.<\/p>\n<p>\n        <b><br \/>\n          <i>Investment Income\/loss<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>\n        <b>Investment income<\/b> for the fourth quarter of 2024 was <span class=\"xn-money\">RMB18.2 million<\/span> (<span class=\"xn-money\">US$2.5million<\/span>), compared with investment loss of <span class=\"xn-money\">RMB53.6 million<\/span> for the corresponding period in 2023, primarily due to unrealized income from fair value changes on certain equity investments.<\/p>\n<p>\n        <b><br \/>\n          <i>Income Tax Expenses<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>\n        <b>Income tax expense<\/b><br \/>\n        <b>s<\/b> for the fourth quarter of 2024 were <span class=\"xn-money\">RMB96.6 million<\/span> (<span class=\"xn-money\">US$13<\/span>.2\u00a0million), a 183.6% increase from the corresponding period in 2023, due to increases in effective tax rate relating to dividend withholding tax and certain unrealized tax losses in mainland <span class=\"xn-location\">China<\/span>.<\/p>\n<p>\n        <b><br \/>\n          <i>Net Income<\/i><br \/>\n        <\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>\n          <b>Net Income<\/b><\/p>\n<ul type=\"disc\">\n<li>\n              <b>Net income <\/b>for the fourth quarter of 2024 was <span class=\"xn-money\">RMB113.7 million<\/span> (<span class=\"xn-money\">US$15.6 million<\/span>), a 46.7% decrease from the corresponding period in 2023.<\/li>\n<li>\n              <b>Net margin <\/b>for the fourth quarter of 2024 was 17.4%, compared with 26.7% for the corresponding period in 2023.<\/li>\n<li>\n              <b>Net income attributable to Noah shareholders <\/b>for the fourth quarter of 2024 was <span class=\"xn-money\">RMB109.8 million<\/span> (<span class=\"xn-money\">US$15.0 million<\/span>), a 49.3% decrease from the corresponding period in 2023.<\/li>\n<li>\n              <b>Net margin attributable to Noah shareholders <\/b>for the fourth quarter of 2024 was 16.8%, compared with 27.1% for the corresponding period in 2023.<\/li>\n<li>\n              <b>Net income attributable to Noah shareholders per basic and diluted ADS<\/b> for the fourth quarter of 2024 was <span class=\"xn-money\">RMB1.56<\/span><span class=\"xn-money\">(US$0.21)<\/span> and <span class=\"xn-money\">RMB1.55<\/span><span class=\"xn-money\">(US$0.21)<\/span>, respectively, compared with <span class=\"xn-money\">RMB3.12<\/span> and <span class=\"xn-money\">RMB3.12<\/span> respectively, for the corresponding period in 2023.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li>\n          <b>Non-GAAP Net Income Attributable to Noah Shareholders <\/b><\/p>\n<ul type=\"disc\">\n<li>\n              <b>Non-GAAP net income attributable to Noah shareholders <\/b>for the fourth quarter of 2024 was <span class=\"xn-money\">RMB132.4 million<\/span> (<span class=\"xn-money\">US$18.1 million<\/span>), a 43.3% decrease from the corresponding period in 2023.<\/li>\n<li>\n              <b>Non-GAAP net margin attributable to Noah shareholders <\/b>for the fourth quarter of 2024 was 20.3%, compared with 29.2% for the corresponding period in 2023.<\/li>\n<li>\n              <b>Non-GAAP net income attributable to Noah shareholders per diluted ADS <\/b>for the fourth quarter of 2024 was <span class=\"xn-money\">RMB1.87<\/span><span class=\"xn-money\">(US$0.26)<\/span>, compared with <span class=\"xn-money\">RMB3.36<\/span> for the corresponding period in 2023.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>\n        <b>FULL YEAR 2024 FINANCIAL RESULTS<sup><b>[16]<\/b><\/sup><\/b>\n      <\/p>\n<p>\n        <b><br \/>\n          <i>Net Revenues<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>\n        <b>Net revenues<\/b> for the full year 2024 were <span class=\"xn-money\">RMB2,601.0 million<\/span> (<span class=\"xn-money\">US$356.3 million<\/span>), a 21.1% decrease from 2023, primarily due to a decrease in one-time commissions associated with Noah&#8217;s wealth management business.\u00a0<\/p>\n<ul type=\"disc\">\n<li>\n          <b>Wealth Management Business<\/b><\/p>\n<ul type=\"disc\">\n<li>\n              <b>Net revenues from one-time commissions<\/b> for 2024 were <span class=\"xn-money\">RMB631.7 million<\/span> (<span class=\"xn-money\">US$86.5 million<\/span>), a 41.6% decrease from 2023, primarily due to a decrease in the distribution of insurance products.<\/li>\n<li>\n              <b>Net revenues from recurring service fees<\/b> for 2024 were <span class=\"xn-money\">RMB979.3 million<\/span> (<span class=\"xn-money\">US$134.2 million<\/span>), an 11.1% decrease from 2023, mainly due to a decrease in recurring service fees generated from private secondary and private equity products.<\/li>\n<li>\n              <b>Net revenues from performance-based income<\/b> for 2024 were <span class=\"xn-money\">RMB48.7 million<\/span> (<span class=\"xn-money\">US$6.7 million<\/span>), a 43.4% decrease from 2023, primarily due to a decrease in performance-based income from private equity products.<\/li>\n<li>\n              <b>Net revenues from other service fees<\/b> for 2024 were <span class=\"xn-money\">RMB141.0 million<\/span> (<span class=\"xn-money\">US$19.3 million<\/span>), a 36.2% decrease from 2024, primarily due to fewer value-added services Noah provided to its high-net-worth clients.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li>\n          <b>Asset Management Business<\/b><\/p>\n<ul type=\"disc\">\n<li>\n              <b>Net revenues from recurring service fees <\/b>for 2024 were <span class=\"xn-money\">RMB662.5 million<\/span> (<span class=\"xn-money\">US$90.8 million<\/span>), a 7.0% decrease from 2023.<\/li>\n<li>\n              <b>Net revenues from performance-based income <\/b>for 2024 were <span class=\"xn-money\">RMB103.7 million<\/span> (<span class=\"xn-money\">US$14.2 million<\/span>), a 103.0% increase from 2023, primarily due to an increase in performance-based income from private equity products.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li>\n          <b>Other Businesses<\/b><\/p>\n<ul type=\"disc\">\n<li>\n              <b>Net revenues <\/b>for 2024 were <span class=\"xn-money\">RMB32.9 million<\/span> (<span class=\"xn-money\">US$4.5 million<\/span>), an 11.7% decrease from 2023.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>\n        <b><br \/>\n          <i>Operating costs and expenses<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>\n        <b>Operating<\/b><br \/>\n        <b>\u00a0costs and<\/b><br \/>\n        <b>\u00a0expenses<\/b>\u00a0for 2024 were <span class=\"xn-money\">RMB1,967.1 million<\/span> (<span class=\"xn-money\">US$269.5 million<\/span>), a 10.5% decrease from 2023. Operating costs and expenses for 2024 primarily consisted of (i) compensation and benefits of <span class=\"xn-money\">RMB1,349.5 million<\/span> (<span class=\"xn-money\">US$184.9 million<\/span>); (ii) selling expenses of <span class=\"xn-money\">RMB269.0 million<\/span> (<span class=\"xn-money\">US$36.9 million<\/span>); (iii) general and administrative expenses of <span class=\"xn-money\">RMB296.8 million<\/span> (<span class=\"xn-money\">US$40.7 million<\/span>); (iv) provision for credit losses of <span class=\"xn-money\">RMB23.9 million<\/span> (<span class=\"xn-money\">US$3.3 million<\/span>); and (v) other operating expenses of <span class=\"xn-money\">RMB93.2 million<\/span> (<span class=\"xn-money\">US$12.8 million<\/span>).<\/p>\n<ul type=\"disc\">\n<li>\n          <b>Operating costs and expenses<\/b><br \/>\n          <b>for the wealth management business<\/b> for 2024 were <span class=\"xn-money\">RMB1,456.7 million<\/span> (<span class=\"xn-money\">US$199.6 million<\/span>), a 13.4% decrease from 2023, primarily due to a decrease in selling expenses as well as compensation and benefits.<\/li>\n<li>\n          <b>Operating costs and expenses<\/b><br \/>\n          <b>for the asset management business<\/b> for 2024 were <span class=\"xn-money\">RMB379.5 million<\/span> (<span class=\"xn-money\">US$52.0 million<\/span>), effectively flat when compared with the corresponding period in 2023.<\/li>\n<li>\n          <b>Operating costs and expenses<\/b><br \/>\n          <b>for other businesses<\/b> for 2024 were <span class=\"xn-money\">RMB131.0 million<\/span> (<span class=\"xn-money\">US$17.9 million<\/span>), a 3.7% decrease from 2023, primarily due to a decrease in other operating expenses.<\/li>\n<\/ul>\n<p>\n        <b><br \/>\n          <i>Operating Margin<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>\n        <b>Operating margin <\/b>for 2024 was 24.4%, compared with\u00a033.3% for 2023.<\/p>\n<ul type=\"disc\">\n<li>\n          <b>Operating margin for the wealth management business <\/b>for 2024 was 19.1%, compared with 32.5% for 2023.<\/li>\n<li>\n          <b>Operating margin for the asset management business<\/b> for 2024 was 50.5%, compared with 50.5% for 2023.<\/li>\n<li>\n          <b>Loss <\/b><br \/>\n          <b>from other businesses<\/b> for 2024 was <span class=\"xn-money\">RMB98.0 million<\/span> (<span class=\"xn-money\">US$13.4 million<\/span>), compared with an operating loss of <span class=\"xn-money\">RMB98.6 million<\/span> for 2023.<\/li>\n<\/ul>\n<p>\n        <b><br \/>\n          <i>Interest Income<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>\n        <b>Interest income<\/b> for 2024 was <span class=\"xn-money\">RMB155.8 million<\/span> (<span class=\"xn-money\">US$21.3 million<\/span>), a 3.8% decrease from the corresponding period in 2023.<\/p>\n<p>\n        <b><br \/>\n          <i>Investment Loss\/Income<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>\n        <b><br \/>\n          <i>Investment income <\/i><br \/>\n        <\/b>for 2024 was <span class=\"xn-money\">RMB50.2 million<\/span> (<span class=\"xn-money\">US$6.9 million<\/span>), compared with investment loss of <span class=\"xn-money\">RMB61.5 million<\/span> for 2023.<\/p>\n<p>\n        <b><br \/>\n          <i>Income Tax Expenses<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>\n        <b>Income tax expense<\/b><br \/>\n        <b>s<\/b> for 2024 were <span class=\"xn-money\">RMB268.6 million<\/span> (<span class=\"xn-money\">US$36.8 million<\/span>), a 2.4% increase from 2023.<\/p>\n<p>\n        <b><br \/>\n          <i>Net Income<\/i><br \/>\n        <\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>\n          <b>Net Income<\/b><\/p>\n<ul type=\"disc\">\n<li>\n              <b>Net income <\/b>for 2024 was <span class=\"xn-money\">RMB487.0 million<\/span> (<span class=\"xn-money\">US$66.7 million<\/span>), a 51.3% decrease from 2023.<\/li>\n<li>\n              <b>Net margin <\/b>for 2024 was 18.7%, compared with 30.4% for 2023.<\/li>\n<li>\n              <b>Net income attributable to Noah shareholders <\/b>for 2024 was <span class=\"xn-money\">RMB475.4 million<\/span> (<span class=\"xn-money\">US$65.1million<\/span>), a 52.9% decrease from 2023.<\/li>\n<li>\n              <b>Net margin attributable to Noah shareholders <\/b>for 2024 was 18.3%, compared with 30.6% for the corresponding period in 2023.<\/li>\n<li>\n              <b>Net income attributable to Noah shareholders per basic and diluted ADS<\/b> for 2024 was <span class=\"xn-money\">RMB6.78<\/span><span class=\"xn-money\">(US$0.93)<\/span> and <span class=\"xn-money\">RMB6.75<\/span><span class=\"xn-money\">(US$0.92)<\/span>, respectively, compared with <span class=\"xn-money\">RMB14.53<\/span> and <span class=\"xn-money\">RMB14.53<\/span>, respectively, for the corresponding period in 2023.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li>\n          <b>Non-GAAP Net Income Attributable to Noah Shareholders <\/b><\/p>\n<ul type=\"disc\">\n<li>\n              <b>Non-GAAP net income attributable to Noah shareholders <\/b>for 2024 was <span class=\"xn-money\">RMB550.2 million<\/span> (<span class=\"xn-money\">US$75.4 million<\/span>), a 46.0% decrease from 2023.<\/li>\n<li>\n              <b>Non-GAAP net margin attributable to Noah shareholders <\/b>for 2024 was 21.2%, compared with 30.9% for the corresponding period in 2023.<\/li>\n<li>\n              <b>Non-GAAP net income attributable to Noah shareholders per diluted ADS <\/b>for 2024 was <span class=\"xn-money\">RMB7.81<\/span><span class=\"xn-money\">(US$1.07)<\/span>, compared with <span class=\"xn-money\">RMB14.66<\/span> for the corresponding period in 2023.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>\n        <b>BALANCE SHEET AND CASH FLOW<\/b>\n      <\/p>\n<p>As of <span class=\"xn-chron\">December 31, 2024<\/span>, the Company had <span class=\"xn-money\">RMB3,822.3 million<\/span> (<span class=\"xn-money\">US$523.7 million<\/span>) in cash and cash equivalents, compared with <span class=\"xn-money\">RMB5,192.1 million<\/span> as of <span class=\"xn-chron\">December 31, 2023<\/span> and <span class=\"xn-money\">RMB3,435.8 million<\/span> as of <span class=\"xn-chron\">September 30, 2024<\/span>.<\/p>\n<p>Net cash inflow from the Company&#8217;s operating activities during the fourth quarter of 2024 was <span class=\"xn-money\">RMB282.3 million<\/span> (<span class=\"xn-money\">US$38.7 million<\/span>), compared with <span class=\"xn-money\">RMB152.5 million<\/span> in the corresponding period in 2023, mainly due to cash inflow generated from net income from operations. Net cash inflow from the Company&#8217;s operating activities in 2024 was <span class=\"xn-money\">RMB387.3 million<\/span> (<span class=\"xn-money\">US$53.1 million<\/span>), compared with <span class=\"xn-money\">RMB1,318.3 million<\/span> in 2023, primarily due to a decrease in net come and an increase in trading debt products in 2024.<\/p>\n<p>Net cash inflow from the Company&#8217;s investing activities during the fourth quarter of 2024 was <span class=\"xn-money\">RMB72.9 million<\/span> (<span class=\"xn-money\">US$10.0 million<\/span>), compared with net cash inflow of <span class=\"xn-money\">RMB226.8 million<\/span> in the corresponding period in 2023. Net cash outflow from the Company&#8217;s investing activities in 2024 was <span class=\"xn-money\">RMB840.8 million<\/span> (<span class=\"xn-money\">US$115.2 million<\/span>), compared to net cash outflow of <span class=\"xn-money\">RMB247.1 million<\/span> in 2023, primarily due to various purchases of term deposits in 2024.<\/p>\n<p>Net cash outflow from the Company&#8217;s financing activities was <span class=\"xn-money\">RMB66.6 million<\/span> (<span class=\"xn-money\">US$9.1 million<\/span>) in the fourth quarter of 2024, compared to net cash outflow of <span class=\"xn-money\">RMB94.0 million<\/span> in the corresponding period in 2023. Net cash outflow from the Company&#8217;s financing activities in 2024 was <span class=\"xn-money\">RMB1,134.2 million<\/span> (<span class=\"xn-money\">US$155.4 million<\/span>), compared to net cash outflow of <span class=\"xn-money\">RMB199.8 million<\/span> in 2023, primarily due to payment of the final dividend to the Company&#8217;s shareholders in 2024.<\/p>\n<p>\n        <b>ANNUAL AND SPECIAL DIVIDEND<\/b>\n      <\/p>\n<p>On <span class=\"xn-chron\">March 25, 2025<\/span>, the Company&#8217;s Board of Directors (the &#8220;Board&#8221;) approved an annual dividend of approximately <span class=\"xn-money\">RMB275.0 million<\/span> (<span class=\"xn-money\">US$37.7 million<\/span>) in total, which is equivalent to 50% of full year 2024 non-GAAP net income attributable to Noah shareholders, in accordance with the capital management and shareholder return policy (the &#8220;Policy&#8221;) adopted on <span class=\"xn-chron\">November 29, 2023<\/span>. The Board has also approved a non-recurring special dividend of approximately <span class=\"xn-money\">RMB275.0 million<\/span> (<span class=\"xn-money\">US$37.7 million<\/span>) in total. The annual and special dividend payment plan will be reviewed during and announced after the Annual General Meeting, which is expected to be held in <span class=\"xn-chron\">June 2025<\/span>.<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>[1]<\/sup>\u00a0Solely for disclosure purposes, &#8220;domestic&#8221; and &#8220;overseas&#8221; as used here and throughout this press release refer to the Company&#8217;s businesses conducted in mainland China and outside of mainland China, respectively.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>[2]<\/sup>\u00a0Operates under the Noah Upright brand<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>[3]<\/sup>\u00a0Operates under the Gopher Asset Management brand<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>[4]\u00a0<\/sup>Operates under the Glory brand<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>[5]<\/sup>\u00a0Operates under the ARK Wealth Management brand<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>[6]<\/sup>\u00a0Operates under the Olive Asset Management brand<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>[7]<\/sup>\u00a0Operates under the Glory Family Heritage brand<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>[8]<\/sup>\u00a0The financial information under the segmentation adopted in Q4 2024 presented in this press release does not include a retrospective recast of the financial information of the prior year in accordance with this segmentation, as this segmentation reflects the Company&#8217;s operational adjustments and organizational restructuring in 2024 and the costs and expenses in the Company&#8217;s income statements could not be re-allocated retrospectively under this segmentation.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>[9]<\/sup>\u00a0Noah&#8217;s Non-GAAP financial measures are its corresponding GAAP financial measures excluding the effects of all forms of share-based compensation, non-cash settlement expenses or reversal and net of relevant tax impact, if any. See &#8220;Reconciliation of GAAP to Non-GAAP Results&#8221; at the end of this press release.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>[10]\u00a0<\/sup>The financial information under the segmentation adopted in Q4 2024 presented in this press release does not include a retrospective recast of the financial information of the prior year in accordance with this segmentation, as this segmentation reflects the Company&#8217;s operational adjustments and organizational restructuring in 2024 and the costs and expenses in the Company&#8217;s income statements could not be re-allocated retrospectively under this segmentation.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>[11]<\/sup>\u00a0\u00a0&#8220;Active clients&#8221; for a given period refers to registered investors who purchase investment products distributed or receive services provided by us during that given period.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>[12]<\/sup>\u00a0\u00a0&#8220;Other products&#8221; refers to other investment products, which includes insurance products, multi-strategies products and others.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>[13]\u00a0<\/sup>\u00a0The asset allocation\/redemption of overseas investment products includes the fluctuation result of foreign currencies exchange rate.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>[14]\u00a0<\/sup>\u00a0The asset allocation\/redemption of public securities also includes market appreciation or depreciation.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>[15]\u00a0<\/sup>To provide meaningful comparative information for investors, the quarter-to-quarter analyses presented below are based on the traditional segmentation adopted by the Company (where applicable).<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>[16]<\/sup>\u00a0To provide meaningful comparative information for investors, the year-to-year analyses presented below are based on the traditional segmentation adopted by the Company (where applicable).<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>CONFERENCE CALL\u00a0<\/b>\n      <\/p>\n<p>The Company&#8217;s senior management will host an earnings conference call to discuss its Q4 and full year 2024 Results and recent business activities. Details of the conference call are as follows:<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Zoom webinar details<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Conference title<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Noah Holdings 4Q and Full Year 2024 Earnings Conference Call<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Date\/Time<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Tuesday, March 25, 2025 at 8:00 p.m., U.S. Eastern Time<\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Wednesday, March 26, 2025 at 8:00 a.m., Hong Kong Time<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Dial in:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2013 Hong Kong Toll Free:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">800-963976<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2013 United States Toll Free:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1-888-317-6003<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2013 Mainland China Toll Free:\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4001-206115<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2013 International Toll:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1-412-317-6061<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Participant Password:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3516952<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>A telephone replay will be available starting approximately one hour after the end of the conference until <span class=\"xn-chron\">April 1, 2025<\/span> at 1-877-344-7529 (US Toll Free) and 1-412-317-0088 (International Toll) with the access code 2095416.<\/p>\n<p>\n        <b>DISCUSSION ON NON-GAAP MEASURES<\/b>\n      <\/p>\n<p>In addition to disclosing financial results prepared in accordance with U.S. GAAP, the Company&#8217;s earnings release contains non-GAAP financial measures excluding the effects of all forms of share-based compensation, non-cash settlement expenses or reversal and net of tax impact, if any. See &#8220;Reconciliation of GAAP to Non-GAAP Results&#8221; at the end of this press release.<\/p>\n<p>The non-GAAP financial measures disclosed by the Company should not be considered a substitute for financial measures prepared in accordance with U.S. GAAP. The financial results reported in accordance with U.S. GAAP and reconciliation of GAAP to non-GAAP results should be carefully evaluated. The non-GAAP financial measures used by the Company may be prepared differently from and, therefore, may not be comparable to similarly titled measures used by other companies.<\/p>\n<p>When evaluating the Company&#8217;s operating performance in the periods presented, management reviewed the foregoing non-GAAP net income attributable to Noah shareholders and per diluted ADS and non-GAAP net margin attributable to Noah shareholders to supplement U.S. GAAP financial data. As such, the Company&#8217;s management believes that the presentation of the non-GAAP financial measures provides important supplemental information to investors regarding financial and business trends relating to its results of operations in a manner consistent with that used by management. \u00a0<\/p>\n<p>\n        <b>ABOUT NOAH HOLDINGS LIMITED<\/b>\n      <\/p>\n<p>Noah Holdings Limited (NYSE: NOAH and HKEX: 6686) is a leading and pioneer wealth management service provider offering comprehensive one-stop advisory services on global investment and asset allocation primarily for mandarin-speaking high-net-worth investors. Noah&#8217;s American depositary shares, or ADSs, are listed on the New York Stock Exchange under the symbol &#8220;NOAH&#8221;, and its shares are listed on the main board of the Hong Kong Stock Exchange under the stock code &#8220;6686.&#8221; One ADS represents five ordinary shares, par value <span class=\"xn-money\">$0.00005<\/span> per share.<\/p>\n<p>In 2024, Noah distributed <span class=\"xn-money\">RMB63.9 billion<\/span> (<span class=\"xn-money\">US$8.8 billion<\/span>) of investment products. Through Gopher Asset Management and Olive Asset Management, Noah had assets under management of <span class=\"xn-money\">RMB151.5 billion<\/span> (<span class=\"xn-money\">US$20.8 billion<\/span>) as of <span class=\"xn-chron\">December 31, 2024<\/span>.<\/p>\n<p>Noah&#8217;s domestic and overseas wealth management business primarily distributes private equity, public securities and insurance products denominated in RMB and other currencies. Noah&#8217;s network covers major cities in mainland <span class=\"xn-location\">China<\/span>, as well as <span class=\"xn-location\">Hong Kong<\/span> (<span class=\"xn-location\">China<\/span>), <span class=\"xn-location\">New York<\/span>, Silicon Valley, <span class=\"xn-location\">Singapore<\/span>, and Los Angeles.\u00a0The Company&#8217;s wealth management business had 462,049 registered clients as of <span class=\"xn-chron\">December 31, 2024<\/span>. Through its domestic and overseas asset management business operated by Gopher Asset Management and Olive Asset Management, Noah manages private equity, public securities, real estate, multi-strategy and other investments denominated in RMB and other currencies. The Company also provides other businesses.<\/p>\n<p>For more information, please visit Noah at <i>ir.noahgroup.com<\/i>.\u00a0<\/p>\n<p>\n        <b>FOREIGN CURRENCY TRANSLATION<\/b>\n      <\/p>\n<p>In this announcement, the unaudited financial results for the fourth quarter of 2024 and audited financial results for the full year ended <span class=\"xn-chron\">December 31, 2024<\/span> are stated in RMB. This announcement contains currency conversions of certain RMB amounts into US$ at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to US$ are made at a rate of <span class=\"xn-money\">RMB7.2993<\/span> to <span class=\"xn-money\">US$1.00<\/span>, the effective noon buying rate for <span class=\"xn-chron\">December 31, 2024<\/span> as set forth in the H.10 statistical release of the Federal Reserve Board.<\/p>\n<p>\n        <b>SAFE HARBOR STATEMENT\u00a0<\/b>\n      <\/p>\n<p>This announcement contains forward-looking statements. These statements are made under the &#8220;safe harbor&#8221; provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as &#8220;will,&#8221; &#8220;expects,&#8221; &#8220;anticipates,&#8221; &#8220;future,&#8221; &#8220;intends,&#8221; &#8220;plans,&#8221; &#8220;believes,&#8221; &#8220;estimates,&#8221; &#8220;confident&#8221; and similar statements. Noah may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in announcements, circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the &#8220;Hong Kong Stock Exchange&#8221;), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Noah&#8217;s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. These statements include, but are not limited to, estimates regarding the sufficiency of Noah&#8217;s cash and cash equivalents and liquidity risk. A number of factors could cause Noah&#8217;s actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: its goals and strategies; its future business development, financial condition and results of operations; the expected growth of the wealth management and asset management market in <span class=\"xn-location\">China<\/span> and internationally; its expectations regarding demand for and market acceptance of the products it distributes; investment risks associated with investment products distributed to Noah&#8217;s investors, including the risk of default by counterparties or loss of value due to market or business conditions or misconduct by counterparties; its expectations regarding keeping and strengthening its relationships with key clients; relevant government policies and regulations relating to its industries; its ability to attract and retain qualified employees; its ability to stay abreast of market trends and technological advances; its plans to invest in research and development to enhance its product choices and service offerings; competition in its industries in <span class=\"xn-location\">China<\/span> and internationally; general economic and business conditions in <span class=\"xn-location\">China<\/span>; and its ability to effectively protect its intellectual property rights and not to infringe on the intellectual property rights of others. Further information regarding these and other risks is included in Noah&#8217;s filings with the U.S. Securities and Exchange Commission and the Hong Kong Stock Exchange. All information provided in this press release and in the attachments is as of the date of this press release, and Noah does not undertake any obligation to update any such information, including forward-looking statements, as a result of new information, future events or otherwise, except as required under the applicable law.<\/p>\n<p class=\"prntac\">____________________________________<\/p>\n<p>\u00a0<\/p>\n<p class=\"prntac\">&#8212; FINANCIAL AND OPERATIONAL TABLES FOLLOW &#8212;<\/p>\n<p class=\"prntac\">\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen20\" colspan=\"7\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Noah Holdings Limited<\/b>\u00a0<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\" colspan=\"7\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Condensed Consolidated Balance Sheets<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"5\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">As of<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">September 30,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2024<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2024<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2024<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">(unaudited)<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">(Audited)<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">(Audited)<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">USD&#8217;000<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Assets<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Current assets:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Cash and cash equivalents<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,435,758<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,822,339<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">523,658<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Restricted cash<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">5,786<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">8,696<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,191<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Short-term investments\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,297,914<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,274,609<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">174,621<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Accounts receivable, net\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">460,076<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">473,490<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">64,868<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Amounts due from related parties<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">468,264<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">499,524<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">68,435<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Loans receivable, net<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">179,089<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">169,108<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">23,168<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Other current assets\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">246,451<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">226,965<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">31,091<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Total current assets\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6,093,338<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6,474,731<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">887,032<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Long-term investments, net\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">960,572<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">971,099<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">133,040<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Investment in affiliates<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,404,501<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,373,156<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">188,122<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Property and equipment, net<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,395,438<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,382,247<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">326,367<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Operating lease right-of-use assets, net<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">121,435<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">121,115<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">16,593<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Deferred tax assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">400,447<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">319,206<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">43,731<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Other non-current assets\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">145,394<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">137,291<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">18,809<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Total Assets<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">11,521,125<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">11,778,845<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,613,694<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Liabilities and Equity<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Current liabilities:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Accrued payroll and welfare expenses\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">270,282<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">412,730<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">56,544<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Income tax payable<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">130,136<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">63,892<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">8,753<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Deferred revenues<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">76,867<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">72,259<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">9,899<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Contingent liabilities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">459,436<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">476,107<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">65,226<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Other current liabilities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">437,260<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">404,288<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">55,387<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Total current liabilities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,373,981<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,429,276<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">195,809<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Deferred tax liabilities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">243,466<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">246,093<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">33,715<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Operating lease liabilities, non-current<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">77,652<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">75,725<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">10,374<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Other non-current liabilities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">22,985<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">15,011<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,056<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">\u00a0 Total Liabilities\u00a0<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,718,084<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,766,105<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">241,954<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">\u00a0 Equity<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">9,803,041<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">10,012,740<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,371,740<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Total Liabilities and Equity<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">11,521,125<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">11,778,845<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,613,694<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p class=\"prntal\">\u00a0<\/p>\n<p class=\"prntal\">\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen25\" colspan=\"8\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Noah Holdings Limited<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"8\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Condensed Consolidated Income Statements<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"8\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(unaudited)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"7\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Three months ended\u00a0<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Change<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2023<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2024<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen28\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2024<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen29\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Revenues:<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">USD&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Revenues from others:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 One-time commissions<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">303,460<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">131,086<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">17,959<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(56.8\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Recurring service fees<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">167,109<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">158,733<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">21,746<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(5.0\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Performance-based income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">146<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">34,824<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4,771<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">23752.1\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Other service fees<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">59,244<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">52,434<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">7,183<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(11.5\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total revenues from others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">529,959<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">377,077<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">51,659<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(28.8\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Revenues from funds <br \/>\u00a0 \u00a0 Gopher\/Olive manages:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 One-time commissions<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4,455<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4,318<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">592<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3.1\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Recurring service fees<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">262,363<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">261,904<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">35,881<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.20\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Performance-based income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">11,762<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">14,490<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,985<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">23.2\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total revenues from funds <br \/>\u00a0 \u00a0 Gopher\/Olive manages<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">278,580<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">280,712<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">38,458<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.8\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total revenues<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">808,539<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">657,789<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">90,117<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(18.6\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Less: VAT related surcharges\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen37\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(9,031)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen37\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(5,882)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen37\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(806)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(34.9\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Net revenues<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">799,508<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">651,907<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">89,311<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(18.5\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Operating costs and expenses:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Compensation and benefits<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Relationship manager <br \/>\u00a0 \u00a0 compensation<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(140,673)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(149,641)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(20,501)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6.4\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen37\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(160,077)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen37\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(204,031)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen37\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(27,953)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">27.5\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total compensation and<br \/>\u00a0 \u00a0 benefits<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(300,750)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(353,672)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(48,454)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">17.6\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Selling expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(157,399)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(78,877)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(10,806)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(49.9\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">General and administrative<br \/>\u00a0 \u00a0 expenses\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(98,637)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(73,483)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(10,067)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(25.5\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Reversal of (provision for) <br \/>\u00a0 \u00a0 credit losses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,025<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(18,894)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2,588)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1943.3\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Other operating expenses\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(25,649)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(17,198)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2,356)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(32.9\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Government grants\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,626<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">27,791<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,807<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">958.30\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total operating costs and <br \/>\u00a0 \u00a0 expenses\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen37\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(578,784)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen37\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(514,333)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen37\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(70,464)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(11.1\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Income from operations\u00a0<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">220,724<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">137,574<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">18,847<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(37.7\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Other income (expense):<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Interest income\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">44,389<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">38,563<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">5,283<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(13.1\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Investment (loss) income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(53,567)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">18,233<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,498<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">N.A.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Settlement\u00a0 reversal<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">978<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">134<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">N.A.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Contingent litigation reversal<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">14,000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,918<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">N.A.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Other (expense) income\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen37\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(16,933)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">43,829<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6,005<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">N.A.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total other (expense) income\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen37\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(26,111)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">115,603<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">15,838<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">N.A.\u00a0<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Income before taxes and <br \/>\u00a0 \u00a0 income from equity in<br \/>\u00a0 \u00a0 affiliates<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">194,613<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">253,177<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">34,685<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">30.1\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Income tax expense<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(34,068)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(96,612)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(13,236)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">183.6\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Income (loss) from equity in<br \/>affiliates<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">52,795<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen37\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(42,884)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen37\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(5,875)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">N.A.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net income\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">213,340<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">113,681<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">15,574<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(46.7\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Less: net (loss) income <br \/>\u00a0 \u00a0 attributable to non-controlling<br \/>\u00a0 \u00a0 interests<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen37\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3,190)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,930<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">538<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">N.A.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net income attributable to <br \/>\u00a0 Noah shareholders\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">216,530<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">109,751<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">15,036<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen40\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(49.3\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Income per ADS, basic<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3.12<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.56<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.21<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(50.0\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Income per ADS, diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3.12<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.55<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.21<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(50.3\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Margin analysis:<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Operating margin<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">27.6\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">21.1\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">21.1\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Net margin<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">26.7\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">17.4\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">17.4\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Weighted average ADS <br \/>\u00a0 \u00a0 equivalent<sup>[1]<\/sup>:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Basic<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">69,487,210<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">70,296,590<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">70,296,590<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">69,500,978<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">70,901,802<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">70,901,802<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">ADS equivalent outstanding at <br \/>\u00a0 \u00a0 end of period<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">65,261,465<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">66,078,707<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">66,078,707<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">[1] Assumes all outstanding ordinary shares are represented by ADSs. Five ordinary share represents one<br \/>ADSs.<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p class=\"prntal\">\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen20\" colspan=\"8\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Noah Holdings Limited<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\" colspan=\"8\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Condensed Consolidated Income Statements<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\" colspan=\"8\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(Audited)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"7\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Twelve months ended\u00a0<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Change<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2023<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2024<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2024<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Revenues:<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">USD&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Revenues from others:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 One-time commissions<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,072,838<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">614,258<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">84,153<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(42.7\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Recurring service fees<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">707,580<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">631,505<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">86,516<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(10.8\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Performance-based income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">16,344<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">47,841<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6,554<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">192.7\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Other service fees<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">270,579<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">186,108<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">25,497<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(31.2\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total revenues from others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,067,341<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,479,712<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">202,720<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(28.4\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Revenues from funds <br \/>\u00a0 \u00a0 Gopher\/Olive manages:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 One-time commissions<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">16,365<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">21,288<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,916<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">30.1\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Recurring service fees<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,112,850<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,015,436<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">139,114<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(8.8\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Performance-based income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">121,265<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">104,898<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">14,371<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(13.5\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total revenues from funds<br \/>\u00a0 \u00a0 Gopher\/Olive manages<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,250,480<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,141,622<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">156,401<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(8.7\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total revenues<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,317,821<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,621,334<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">359,121<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(21.0\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Less: VAT related surcharges\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(23,125)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(20,352)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2,788)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(12.0\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Net revenues<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,294,696<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,600,982<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">356,333<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(21.1\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Operating costs and expenses:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Compensation and benefits<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Relationship manager<br \/>\u00a0 \u00a0 compensation<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(655,460)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(562,523)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(77,065)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(14.2\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(801,293)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(786,928)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(107,809)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1.8\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total compensation and <br \/>\u00a0 \u00a0 benefits<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,456,753)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,349,451)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(184,874)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(7.4\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Selling expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(485,778)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(269,038)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(36,858)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(44.6\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">General and administrative <br \/>\u00a0 \u00a0 expenses\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(275,727)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(296,751)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(40,655)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">7.6\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Reversal of (provision for)<br \/>\u00a0 \u00a0 credit losses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">7,028<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(23,882)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3,272)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">N.A.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Other operating expenses\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(112,506)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(93,210)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(12,770)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(17.2\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Government grants\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">126,955<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">65,239<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">8,938<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(48.6\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total operating costs and <br \/>\u00a0 \u00a0 expenses\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2,196,781)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,967,093)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(269,491)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(10.5\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Income from operations\u00a0<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,097,915<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">633,889<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">86,842<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(42.3\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Other income (expense):<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Interest income\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">161,926<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">155,751<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">21,338<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3.8\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Investment (loss) income\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(61,486)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">50,152<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6,871<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">N.A.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Settlement reversal<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">12,454<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,706<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">N.A.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Contingent litigation reversal<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">14,000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,918<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">N.A.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Other income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">10,892<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,359<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">186<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(87.5\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total other income\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">111,332<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">233,716<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">32,019<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">109.9\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Income before taxes and <br \/>\u00a0 \u00a0 income from equity in affiliates<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,209,247<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">867,605<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">118,861<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(28.3\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Income tax expense<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(262,360)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(268,591)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(36,797)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2.4\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Income (loss) from equity in <br \/>\u00a0 \u00a0 affiliates<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">54,128<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(112,010)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(15,345)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">N.A.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net income\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,001,015<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">487,004<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">66,719<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(51.3\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Less: net (loss) income <br \/>\u00a0 \u00a0 attributable to non-controlling<br \/>\u00a0 \u00a0 interests<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(8,479)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">11,559<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,584<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">N.A.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net income attributable to <br \/>\u00a0 \u00a0 Noah shareholders\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,009,494<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">475,445<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">65,135<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(52.9\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Income per ADS, basic<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">14.53<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6.78<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.93<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(53.3\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Income per ADS, diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">14.53<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6.75<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">0.92<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(53.5\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Margin analysis:<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Operating margin<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">33.3\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">24.4\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">24.4\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Net margin<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">30.4\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">18.7\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">18.7\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Weighted average ADS <br \/>\u00a0 \u00a0 equivalent<sup>[1]<\/sup>:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Basic<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">69,473,972<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">70,169,529<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">70,169,529<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">69,484,516<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">70,470,251<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">70,470,251<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">ADS equivalent outstanding at <br \/>\u00a0 \u00a0 end of period<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">65,261,465<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">66,078,707<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">[1] Assumes all outstanding ordinary shares are represented by ADSs. Five ordinary share represents one <br \/>ADSs.<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p class=\"prntal\">\u00a0<\/p>\n<p class=\"prntal\">\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"11\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Noah Holdings Limited<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"11\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Condensed Comprehensive Income Statements<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"11\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">(unaudited)<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"6\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">Three months ended\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Change<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2023<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2024<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen19\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2024<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">USD&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Net income <\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">213,340<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">113,681<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">15,574<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(46.7\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Other comprehensive (loss) income, net of <br \/>tax:<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">\u00a0 \u00a0 Foreign currency translation adjustments<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\u00a0<\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(68,333)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\u00a0<\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">121,470<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\u00a0<\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">16,641<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen68\">\n                <span class=\"prnews_span\">N.A.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Comprehensive income <\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">145,007<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">235,151<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen41\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">32,215<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen42\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">62.2\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">\u00a0 \u00a0 Less: Comprehensive (loss) income<br \/>attributable to non-controlling interests<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\u00a0<\/p>\n<p class=\"prnml4\">\u00a0<\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3,287)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\u00a0<\/p>\n<p class=\"prnml4\">\u00a0<\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,918<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\u00a0<\/p>\n<p class=\"prnml4\">\u00a0<\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">537<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen68\">\n                <span class=\"prnews_span\">N.A.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Comprehensive income attributable to Noah <br \/><\/span><br \/>\n                  <\/b><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">s<\/span><br \/>\n                  <\/b><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">hareholders<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 <\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">148,294<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 <\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">231,233<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\u00a0<\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">31,678<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">55.9\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p class=\"prntal\">\u00a0<\/p>\n<p class=\"prntal\">\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen25\" colspan=\"8\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Noah Holdings Limited<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"8\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Condensed Comprehensive Income Statements<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"8\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(Audited)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"7\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Twelve months ended\u00a0<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Change<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2023<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen28\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2024<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2024<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prnpr10 prnpl2 prnvat prnsbtb1 prnrbrb1 prnbbbs prnsblb1\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">USD&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net income\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,001,015<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">487,004<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">66,719<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(51.3\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Other comprehensive income, net of<br \/>tax:<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0 \u00a0 Foreign currency translation <br \/>\u00a0 \u00a0 adjustments<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">76,990<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen28\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">112,131<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen28\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">15,362<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">45.6\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Comprehensive income<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prnpr10 prnpl2 prnvam prntar prncbts prnrbrb1 prnsbbb1 prnsblb1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,078,005<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">599,135<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">82,081<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prnpr2 prnpl2 prnvam prncbts prnrbrb1 prnsbbb1 prnsblb1\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(44.4\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0 \u00a0 Less: Comprehensive (loss) income <br \/>attributable to non-controlling interests<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen37\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(8,651)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen28\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">11,758<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen28\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,611<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">N.A.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Comprehensive income attributable to <br \/>Noah shareholders<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen39\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,086,656<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen36\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen46\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">587,377<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen46\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">80,470<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen47\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(45.9\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p class=\"prntal\">\u00a0<\/p>\n<p class=\"prntal\">\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen20\" colspan=\"7\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Noah Holdings Limited<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\" colspan=\"7\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Supplemental Information<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\" colspan=\"7\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(unaudited)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"7\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">As of<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Change<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2023<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2024<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Number of registered clients\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">455,827<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">462,049<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.4\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Three months ended<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Change<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2023<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2024<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"5\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(in millions of RMB, except number of active clients and<br \/>percentages)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Number of active clients<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">9,033<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">8,862<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1.9\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Transaction value:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Private equity products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">717<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,255<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">74.9\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Private secondary products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4,153<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4,732<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">14.0\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Mutual fund products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">10,901<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">9,810<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(10.0\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Other products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">764<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">454<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(40.6\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total transaction value<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">16,535<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">16,251<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1.7\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"3\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Twelve months ended<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Change<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2023<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2024<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"5\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(in millions of RMB, except number of active clients and <br \/>percentages)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Number of active clients<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">22,453<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">17,210<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(23.4\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Transaction value:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Private equity products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,330<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4,775<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">43.4\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Private secondary products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">18,403<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">16,201<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(12.0\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Mutual fund products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">47,837<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">39,573<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(17.3\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Other products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4,486<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,263<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(27.3\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total transaction value<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">74,056<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">63,811<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(13.8\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p class=\"prntal\">\u00a0<\/p>\n<p>\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen25\" colspan=\"17\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Noah Holdings Limited<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"17\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Segment Condensed Income Statements\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"17\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(unaudited)\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"15\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Three months ended December 31, 2024<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Domestic public securities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Domestic asset management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Domestic insurance<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Overseas wealth management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Overseas asset management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Overseas insurance and comprehensive services<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Headquarters<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Revenues:<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Revenues from others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 One-time commissions<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">10,448<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">55<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,971<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">92,234<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,166<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">21,212<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">131,086<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Recurring service fees<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">92,505<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">41,895<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">7,237<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">16,887<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">209<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">158,733<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Performance-based income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">29,740<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4,908<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">176<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">34,824<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Other service fees<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">24,823<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">10,638<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">16,973<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">52,434<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total revenues from others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">132,693<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">46,858<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,971<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">124,294<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">20,229<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">31,850<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">17,182<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">377,077<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Revenues from funds Gopher\/Olive manages<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 One-time commissions<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,889<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">429<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4,318<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Recurring service fees<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">12,207<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">145,406<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">31,287<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">73,004<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">261,904<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Performance-based income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">51<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6,712<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">7,727<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">14,490<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total revenues from funds\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Gopher\/Olive manages\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">15,147<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">152,118<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">32,287<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">81,160<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">280,712<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total revenues<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">147,840<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">198,976<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen53\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,971<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen53\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">156,581<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">101,389<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">31,850<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">17,182<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">657,789<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Less: VAT related surcharges\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,605)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">-271<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(26)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3,980)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(5,882)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net revenues<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">146,235<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">198,705<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,945<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">156,581<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">101,389<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">31,850<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">13,202<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">651,907<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Operating costs and expenses:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Compensation and benefits<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Relationship managers\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(29,268)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(22,172)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(4,435)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(80,851)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(8,375)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(4,540)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(149,641)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(8,645)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(15,709)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(7,520)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(29,584)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(13,843)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(11,468)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(117,262)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(204,031)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0Total compensation and <br \/>\u00a0 \u00a0 benefits<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen55\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(37,913)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(37,881)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(11,955)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(110,435)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen55\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(22,218)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen55\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(16,008)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen55\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(117,262)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen55\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(353,672)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0Selling expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2,689)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3,493)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,100)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(26,829)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3,545)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(5,036)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(36,185)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(78,877)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0General and administrative\u00a0 \u00a0 \u00a0 \u00a0expenses\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(535)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(5,022)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2,963)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2,314)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,322)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3,497)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(57,830)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(73,483)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0Provision for credit losses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,912)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(16,982)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(18,894)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0Other operating expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(681)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(512)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(430)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(4,122)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(11,453)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(17,198)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0Government grants<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">8,689<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6,135<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">470<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">12,497<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">27,791<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0Total operating costs and\u00a0 \u00a0 \u00a0expenses\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(33,129)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(40,773)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(15,978)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(139,578)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(27,085)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(30,575)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(227,215)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(514,333)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Income (loss) from <br \/>operations\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">113,106<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">157,932<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(12,033)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">17,003<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">74,304<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,275<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(214,013)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">137,574<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p class=\"prntal\">\u00a0<\/p>\n<p class=\"prntal\">\u00a0<\/p>\n<p class=\"prntal\">\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen20\" colspan=\"17\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Noah Holdings Limited<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\" colspan=\"17\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Segment Condensed Income Statements\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\" colspan=\"17\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(Audited)\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen56\" colspan=\"17\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\" colspan=\"17\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Twelve months ended December 31, 2024<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Domestic public <br \/>securities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Domestic asset<br \/>management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Domestic<br \/>insurance<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Overseas wealth <br \/>management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Overseas asset <br \/>management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Overseas insurance <br \/>and comprehensive <br \/>services<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Headquarters<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Revenues:<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Revenues from others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 One-time commissions<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">18,619<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,354<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">43,204<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">435,937<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">14,785<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">100,359<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">614,258<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Recurring service fees<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">365,992<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">188,545<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">22,694<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">52,952<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,322<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">631,505<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Performance-based income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">38,058<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4,908<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4,875<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">47,841<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Other service fees<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">89,846<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">38,507<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">57,755<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">186,108<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total revenues from others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">422,669<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">194,807<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">43,204<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">548,477<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">72,612<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">138,866<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">59,077<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,479,712<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Revenues from funds Gopher\/Olive manages<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 One-time commissions<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">13,358<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">5,551<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,379<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">21,288<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Recurring service fees<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">56,441<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">556,742<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">120,669<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">281,584<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,015,436<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Performance-based income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,301<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">21,659<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">81,938<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">104,898<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total revenues from funds<br \/>\u00a0 \u00a0 Gopher\/Olive manages\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">71,100<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">578,401<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen58\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">126,220<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen58\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">365,901<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen58\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen58\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen58\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,141,622<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total revenues<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">493,769<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">773,208<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">43,204<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">674,697<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">438,513<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">138,866<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">59,077<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,621,334<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Less: VAT related surcharges\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(5,017)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,101)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(337)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(13,897)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">-20,352<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net revenues<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">488,752<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">772,107<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">42,867<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">674,697<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">438,513<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">138,866<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">45,180<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,600,982<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Operating costs and expenses:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Compensation and benefits<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Relationship managers\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(128,189)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(71,316)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(53,904)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(294,973)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3,730)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(10,411)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(562,523)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(42,730)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(80,182)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(41,280)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(154,506)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(55,104)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(46,253)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(366,873)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(786,928)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Total compensation and <br \/>\u00a0 benefits<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(170,919)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(151,498)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(95,184)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen42\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(449,479)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen42\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(58,834)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen42\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(56,664)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen42\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(366,873)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen42\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,349,451)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Selling expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(8,429)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(10,574)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(5,599)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(106,175)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(22,321)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(12,177)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(103,763)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(269,038)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 General and administrative <br \/>\u00a0 \u00a0 expenses\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2,012)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(12,807)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(23,696)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(13,589)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3,759)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(7,307)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(233,581)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(296,751)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Provision for credit losses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(88)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(10,083)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(7,307)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(6,404)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(23,882)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Other operating expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,771)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(23,829)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(449)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(9,944)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(57,217)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(93,210)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Government grants<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">13,448<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">10,796<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">479<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">40,516<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">65,239<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total operating costs and<br \/>\u00a0 \u00a0 expenses\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(169,771)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(197,995)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(124,449)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(569,243)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(84,914)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(93,399)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(727,322)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,967,093)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Income (loss) from operations\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">318,981<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">574,112<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(81,582)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">105,454<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">353,599<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">45,467<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(682,142)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">633,889<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p class=\"prntal\">\u00a0<\/p>\n<p class=\"prntal\">\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"8\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Noah Holdings Limited<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"8\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Segment Condensed Income Statements <\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"8\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">\u00a0(unaudited) <\/span><br \/>\n                  <\/b>\u00a0<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen59\" colspan=\"8\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\" colspan=\"8\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Three months ended December 31, 2024<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">Wealth Management<\/span>\n              <\/p>\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">\u00a0Business<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">Asset Management<\/span>\n              <\/p>\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">Business<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">Other Businesses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">Total<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Revenues:<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Revenues from others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">One-time commissions<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">131,086<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">131,086<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Recurring service fees<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">158,733<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">158,733<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Performance-based income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">34,824<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">34,824<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Other service fees<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">40,451<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">11,983<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">52,434<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total revenues from others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">365,094<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">11,983<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">377,077<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Revenues from funds Gopher\/Olive <br \/>manages<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">One-time commissions<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,422<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">896<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4,318<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Recurring service fees<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">91,264<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">170,640<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">261,904<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Performance-based income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">14,490<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">14,490<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total revenues from funds <br \/>Gopher\/Olive manages <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen60\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\u00a0<\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">94,686<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen60\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\u00a0<\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">186,026<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen60\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\u00a0<\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">280,712<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total revenues<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">459,780<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">186,026<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">11,983<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">657,789<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Less: VAT related surcharges <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2,397)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(271)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3,214)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(5,882)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Net revenues<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen60\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">457,383<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen60\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">185,755<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen60\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">8,769<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">651,907<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Operating costs and expenses:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Compensation and benefits<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Relationship managers <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(140,276)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(9,365)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(149,641)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(136,829)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(56,279)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(10,923)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(204,031)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Total compensation and benefits<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(277,105)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(65,644)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(10,923)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(353,672)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Selling expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(56,588)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(10,871)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(11,418)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(78,877)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">General and administrative<br \/>expenses <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(41,706)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(20,334)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(11,443)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(73,483)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Provision for credit losses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(15,724)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(577)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2,593)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(18,894)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Other operating expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(13,576)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(465)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3,157)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(17,198)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Government grants<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">21,645<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6,135<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">11<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">27,791<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total operating costs and expenses <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen61\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(383,054)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(91,756)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(39,523)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen61\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(514,333)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Income (loss) from operations <\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">74,329<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">93,999<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(30,754)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">137,574<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p class=\"prntal\">\u00a0<\/p>\n<p class=\"prntal\">\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"8\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Noah Holdings Limited<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"8\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Segment Condensed Income Statements <\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"8\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">\u00a0(unaudited)<\/span><br \/>\n                  <\/b>\u00a0<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen59\" colspan=\"8\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen56\" colspan=\"8\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\" colspan=\"8\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Three months ended December 31, 2023<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">Wealth Management<\/span>\n              <\/p>\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">\u00a0Business<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">Asset Management<\/span>\n              <\/p>\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">Business<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">Other Businesses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">Total<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Revenues:<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Revenues from others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">One-time commissions<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">303,460<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">303,460<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Recurring service fees<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">167,109<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">167,109<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Performance-based income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">146<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">146<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Other service fees<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">50,644<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">8,600<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">59,244<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total revenues from others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">521,359<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">8,600<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">529,959<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Revenues from funds Gopher manages<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">One-time commissions<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4,350<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">105<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4,455<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Recurring service fees<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">87,399<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">174,964<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">262,363<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Performance-based income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">11,762<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">11,762<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total revenues from funds Gopher <br \/>manages <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen60\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\u00a0<\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">91,749<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen60\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\u00a0<\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">186,831<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen60\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\u00a0<\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">278,580<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total revenues<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">613,108<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">186,831<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">8,600<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">808,539<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Less: VAT related surcharges <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2,778)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(650)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(5,603)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(9,031)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Net revenues<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen60\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">610,330<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen60\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">186,181<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen60\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,997<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">799,508<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Operating costs and expenses:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Compensation and benefits<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Relationship managers <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(132,666)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(8,007)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(140,673)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(127,236)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(24,783)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(8,058)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(160,077)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Total compensation and benefits<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(259,902)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(32,790)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(8,058)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(300,750)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Selling expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(119,891)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(27,974)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(9,534)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(157,399)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">General and administrative<br \/>expenses <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(63,627)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(27,058)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(7,952)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(98,637)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Provision for (reversal of) credit<br \/>losses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2,897)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,429)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">5,351<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,025<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Other operating expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(15,790)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,562)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(8,297)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(25,649)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Government grants<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,502<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">124<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,626<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total operating costs and expenses <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen61\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(459,605)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(90,689)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(28,490)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen61\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(578,784)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Income (loss) from operations <\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">150,725<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">95,492<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(25,493)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen56\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen57\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">220,724<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p class=\"prntal\">\u00a0<\/p>\n<p class=\"prntal\">\u00a0<\/p>\n<p class=\"prntal\">\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen25\" colspan=\"9\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Noah Holdings Limited<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"9\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Segment Condensed Income Statements\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"9\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0(Audited)\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen48\" colspan=\"9\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"9\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Twelve months ended December 31, 2024<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Wealth Management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Asset Management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Other\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0Business<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Business<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Businesses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Revenues:<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Revenues from others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 One-time commissions<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">614,258<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">614,258<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Recurring service fees<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">631,505<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">631,505<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Performance-based income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">47,841<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">47,841<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Other service fees<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">141,631<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">44,477<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">186,108<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total revenues from others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,435,235<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">44,477<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,479,712<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Revenues from funds Gopher\/Olive <br \/>manages<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 One-time commissions<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">20,110<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,178<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">21,288<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Recurring service fees<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">351,998<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">663,438<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,015,436<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Performance-based income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,089<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">103,809<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">104,898<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total revenues from funds <br \/>\u00a0 \u00a0 Gopher\/Olive manages\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">373,197<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">768,425<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,141,622<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total revenues<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,808,432<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">768,425<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">44,477<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,621,334<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Less: VAT related surcharges\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(7,726)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,081)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(11,545)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">-20,352<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net revenues<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,800,706<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">767,344<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">32,932<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,600,982<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Operating costs and expenses:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Compensation and benefits<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Relationship managers\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(531,172)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(31,351)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(562,523)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(534,031)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(213,668)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(39,229)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(786,928)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Total compensation and benefits<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,065,203)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(245,019)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(39,229)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,349,451)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Selling expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(195,830)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(46,811)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(26,397)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(269,038)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 General and administrative <br \/>\u00a0 \u00a0 expenses\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(184,688)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(70,795)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(41,268)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(296,751)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Provision for (reversal of) credit<br \/>\u00a0 \u00a0 losses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(22,157)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3,698)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,973<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(23,882)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Other operating expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(43,107)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(23,948)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(26,155)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(93,210)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Government grants<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">54,324<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">10,797<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">118<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">65,239<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total operating costs and expenses\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,456,661)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(379,474)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(130,958)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,967,093)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Income (loss) from operations\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">344,045<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">387,870<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(98,026)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">633,889<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p class=\"prntal\">\u00a0<\/p>\n<p class=\"prntal\">\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen25\" colspan=\"9\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Noah Holdings Limited<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"9\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Segment Condensed Income Statements\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"9\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0(Audited)\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen48\" colspan=\"9\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"9\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Twelve months ended December 31, 2023<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Wealth Management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Asset Management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Other\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0Business<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Business<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Businesses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Revenues:<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Revenues from others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 One-time commissions<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,072,838<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,072,838<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Recurring service fees<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">707,580<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">707,580<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Performance-based income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">16,344<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">16,344<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Other service fees<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">221,917<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">48,662<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">270,579<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total revenues from others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,018,679<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">48,662<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,067,341<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Revenues from funds Gopher <br \/>manages<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 One-time commissions<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">13,732<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,633<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">16,365<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Recurring service fees<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">398,226<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">714,624<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,112,850<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Performance-based income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">69,977<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">51,288<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">121,265<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total revenues from funds Gopher<br \/>\u00a0 \u00a0 manages\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">481,935<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">768,545<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen51\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,250,480<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total revenues<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,500,614<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">768,545<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">48,662<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,317,821<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Less: VAT related surcharges\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(9,365)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2,374)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(11,386)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(23,125)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net revenues<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,491,249<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">766,171<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">37,276<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,294,696<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Operating costs and expenses:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 Compensation and benefits<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Relationship managers\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(631,082)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(24,378)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen50\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(655,460)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(544,804)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(224,308)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(32,181)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(801,293)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0Total compensation and benefits<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,175,886)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(248,686)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(32,181)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,456,753)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0Selling expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(370,861)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(88,827)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(26,090)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(485,778)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0General and administrative<br \/>\u00a0 expenses\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(193,248)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(59,367)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(23,112)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(275,727)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0Provision for (reversal of) credit <br \/>\u00a0 losses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(910)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(921)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">8,859<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">7,028<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0Other operating expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(44,042)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3,348)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(65,116)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(112,506)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0Government grants<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">103,597<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">21,638<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,720<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">126,955<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0Total operating costs and expenses\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,681,350)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(379,511)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(135,920)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2,196,781)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Income (loss) from operations\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">809,899<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">386,660<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(98,644)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen52\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,097,915<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p class=\"prntal\">\u00a0<\/p>\n<p class=\"prntal\">\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"8\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Noah Holdings Limited<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"8\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Supplement Revenue Information by Geography <\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"8\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">\u00a0(unaudited) <\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"8\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"8\" rowspan=\"1\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">Three months ended December 31, 2024<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">Wealth Management<\/span>\n              <\/p>\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">\u00a0Business<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">Asset Management<\/span>\n              <\/p>\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">Business<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">Other Businesses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">Total<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prngen67\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Revenues:<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Mainland China<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">252,351<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">103,635<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">11,983<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">367,969<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Overseas<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">207,429<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">82,391<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">289,820<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Total revenues<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen61\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>459,780<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen61\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>186,026<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen61\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>11,983<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen61\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>657,789<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p class=\"prntal\">\u00a0<\/p>\n<p class=\"prntal\">\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen20\" colspan=\"8\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Noah Holdings Limited<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\" colspan=\"8\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Supplement Revenue Information by Geography\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\" colspan=\"8\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0(unaudited)\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\" colspan=\"8\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Three months ended December 31, 2023<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Wealth Management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Asset Management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Other\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0Business<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Business<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Businesses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Revenues:<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Mainland China<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">262,775<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">110,975<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">8,600<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">382,350<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Overseas<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">350,333<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">75,856<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">426,189<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total revenues<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>613,108<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>186,831<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>8,600<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>808,539<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p class=\"prntal\">\u00a0<\/p>\n<p class=\"prntal\">\u00a0<\/p>\n<p>\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen25\" colspan=\"8\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Noah Holdings Limited<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"8\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Supplement Revenue Information by Geography\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"8\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0(Audited)\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"8\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Twelve months ended December 31, 2024<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Wealth Management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Asset Management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Other<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0Business<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Business<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0Businesses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Revenues:<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Mainland China<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">932,127<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">392,654<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">44,477<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,369,258<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Overseas<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">876,305<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">375,771<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,252,076<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total revenues<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen62\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,808,432<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen62\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>768,425<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen62\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>44,477<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen62\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2,621,334<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p class=\"prntal\">\u00a0<\/p>\n<p class=\"prntal\">\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen25\" colspan=\"8\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Noah Holdings Limited<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"8\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Supplement Revenue Information by Geography\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"8\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0(Audited)\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"8\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Twelve months ended December 31, 2023<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Wealth Management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Asset Management<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Other\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0Business<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Business<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Businesses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Revenues:<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Mainland China<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,366,538<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">469,193<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">48,662<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,884,393<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Overseas<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,134,076<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">299,352<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,433,428<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total revenues<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen62\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2,500,614<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen62\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>768,545<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen62\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>48,662<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen62\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>3,317,821<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p class=\"prntal\">\u00a0<\/p>\n<p class=\"prntal\">\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen25\" colspan=\"7\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Noah Holdings Limited<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"7\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Supplement Revenue Information by Product Types<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"7\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0(unaudited)\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"3\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Three months ended\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31,\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Change<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2023<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2024<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen28\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"5\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(in thousands of RMB, except percentages)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Mainland China:\u00a0<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Public securities <br \/>\u00a0 \u00a0 products <sup>[1]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">121,133<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">147,840<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">22.0\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Private equity products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">196,088<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">198,976<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.5\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Insurance products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">49,673<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,971<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(92.0\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">15,456<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">17,182<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">11.2\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Subtotal<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">382,350<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">367,969<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3.8\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Overseas:\u00a0<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Investment products <sup>[2]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">131,016<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">140,621<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">7.3\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Insurance products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">248,027<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">106,058<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(57.2\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Online business <sup>[3]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,218<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">9,782<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">204.0\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">43,928<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">33,359<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(24.1\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Subtotal<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">426,189<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">289,820<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(32.0\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Total revenues<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">808,539<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">657,789<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(18.6\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p class=\"prntal\">\u00a0<\/p>\n<p>\n        <sup>[1]<\/sup> Includes mutual funds and private secondary products.<\/p>\n<p>\n        <sup>[2] <\/sup>Includes non-money market mutual fund products, discretionary products, private secondary products, private equity products, real estate products and private credit products.<\/p>\n<p>\n        <sup>[3] <\/sup>Includes money market mutual fund products, securities brokerage business.<\/p>\n<p class=\"prntal\">\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen25\" colspan=\"7\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Noah Holdings Limited<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"7\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Supplement Revenue Information by Product Types<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"7\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0(unaudited)\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"3\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Twelve months ended\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31,\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Change<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2023<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2024<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen28\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"5\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(in thousands of RMB, except percentages)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Mainland China:\u00a0<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Public securities<br \/>\u00a0 \u00a0 products <sup>[1]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">568,104<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">493,769<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(13.1\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Private equity products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">865,798<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">773,208<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(10.7\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Insurance products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">371,863<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">43,204<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(88.4\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">78,628<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">59,077<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(24.9\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Subtotal<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,884,393<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,369,258<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(27.3\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Overseas:\u00a0<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Investment products <sup>[2]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">589,138<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">598,578<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.60\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Insurance products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">642,404<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">501,799<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(21.9\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Online business <sup>[3]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">9,195<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">30,032<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">226.60\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">192,691<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">121,667<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(36.9\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0 \u00a0 Subtotal<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,433,428<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen34\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,252,076<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen54\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(12.7\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Total revenues<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,317,821<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,621,334<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(21.0\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p class=\"prntal\">\u00a0<\/p>\n<p>\n        <sup>[1] <\/sup>Includes mutual funds and private secondary products.<\/p>\n<p>\n        <sup>[2] <\/sup>Includes non-money market mutual fund products, discretionary products, private secondary products, private equity products, real estate products and private credit products.<\/p>\n<p>\n        <sup>[3] <\/sup>Includes money market mutual fund products, securities brokerage business.<\/p>\n<p class=\"prntal\">\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen25\" colspan=\"6\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Noah Holdings Limited<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"6\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Supplement Information of Overseas Business<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"6\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">\u00a0(unaudited)\u00a0<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"5\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Three months ended\u00a0<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31,\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Change<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2023<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2024<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen28\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Net Revenues from Overseas <br \/>(RMB, million)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">426.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">289.8<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(32.0\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Number of Overseas<br \/>\u00a0 \u00a0 Registered Clients<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">14,929<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">17,654<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">18.3\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Number of Overseas Active <br \/>\u00a0 \u00a0 Clients<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,517<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,914<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">15.8\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Transaction Value of <br \/>\u00a0 \u00a0 Overseas Investment <br \/>\u00a0 \u00a0 Products (RMB, billion)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">5.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">7.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">20.3\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Number of Overseas <br \/>\u00a0 \u00a0 Relationship Managers\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">89<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">138<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">55.1\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Overseas Assets Under<br \/>\u00a0 \u00a0 Management (RMB,<br \/>\u00a0 \u00a0 billion)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">36<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">42.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">18.3\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p class=\"prntal\">\u00a0<\/p>\n<p class=\"prntal\">\u00a0<\/p>\n<p class=\"prntal\">\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen25\" colspan=\"6\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Noah Holdings Limited<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"6\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">Supplement Information of Overseas Business<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"6\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span class=\"prnews_span\">\u00a0(unaudited)\u00a0<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Twelve months ended\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31,\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Change<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2023<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2024<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen28\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Net Revenues from Overseas <br \/>(RMB, million)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,433.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,252.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(12.7\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Number of Overseas <br \/>\u00a0 \u00a0 Registered Clients<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">14,929<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">17,654<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">18.3\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Number of Overseas Active<br \/>\u00a0 \u00a0 Clients<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4,629<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">5,544<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">19.8\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Transaction Value of <br \/>\u00a0 \u00a0 Overseas Investment <br \/>\u00a0 \u00a0 Products (RMB, billion)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">23.8<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">31.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">30.7\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Number of Overseas <br \/>\u00a0 \u00a0 Relationship Managers\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">89<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">138<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">55.1\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Overseas Assets Under <br \/>\u00a0 \u00a0 Management (RMB, <br \/>\u00a0 \u00a0 billion)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">36.0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">42.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">18.3\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p class=\"prntal\">\u00a0<\/p>\n<p class=\"prntal\">\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen25\" colspan=\"6\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Noah Holdings Limited<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"6\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Reconciliation of GAAP to Non-GAAP Results<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"6\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(In RMB, except for per ADS data and percentages)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\" colspan=\"6\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(unaudited)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"5\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Three months ended<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Change<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2023<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen27\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2024<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen29\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen25\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Net income attributable to Noah shareholders<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">216,530<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">109,751<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(49.3\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Adjustment for share-based compensation\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">21,935<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">30,705<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">40.0\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Adjustment for settlement expense reversal<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(978)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">N.A.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Less: tax effect of adjustments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4,740<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">7,030<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">48.3\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Adjusted net income attributable to Noah shareholders <br \/>\u00a0 \u00a0 (non-GAAP)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">233,725<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen32\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">132,448<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(43.3\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Net margin attributable to Noah shareholders<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">27.1\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">16.8\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Non-GAAP net margin attributable to Noah shareholders<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">29.2\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">20.3\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Net income attributable to Noah shareholders per ADS, <br \/>\u00a0 \u00a0 diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3.12<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.55<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(50.3\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Non-GAAP net income attributable to Noah shareholders<br \/>\u00a0 \u00a0 per ADS, diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3.36<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen31\" colspan=\"1\" rowspan=\"1\" align=\"right\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.87<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen33\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(44.3\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p class=\"prntal\">\u00a0<\/p>\n<p class=\"prntal\">\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen20\" colspan=\"6\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Noah Holdings Limited<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\" colspan=\"6\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Reconciliation of GAAP to Non-GAAP Results<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\" colspan=\"6\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(In RMB, except for per ADS data and percentages)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\" colspan=\"6\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(unaudited)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Twelve months ended<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">December 31<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Change<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2023<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen19\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2024<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">RMB&#8217;000<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Net income attributable to Noah shareholders<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,009,494<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">475,445<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" align=\"right\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(52.9\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Adjustment for share-based compensation\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">11,530<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">109,030<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">845.6\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Adjustment for settlement expense reversal<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(12,454)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">N.A.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Less: tax effect of adjustments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,220<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">21,836<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">883.6\u00a0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Adjusted net income attributable to Noah shareholders<br \/>\u00a0 \u00a0 (non-GAAP)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,018,804<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">550,185<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(46.0\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Net margin attributable to Noah shareholders<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">30.6\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">18.3\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Non-GAAP net margin attributable to Noah shareholders<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">30.9\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">21.2\u00a0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Net income attributable to Noah shareholders per ADS,<br \/>\u00a0 \u00a0 diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">14.53<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6.75<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(53.5\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Non-GAAP net income attributable to Noah shareholders <br \/>\u00a0 \u00a0 per ADS, diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">14.66<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">7.81<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(46.7\u00a0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p class=\"prntal\">\u00a0<\/p>\n<p class=\"prntal\">\u00a0<\/p>\n<p class=\"prntal\">\u00a0<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN49321&amp;sd=2025-03-25\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/noah-holdings-limited-announces-unaudited-financial-results-for-the-fourth-quarter-2024-and-audited-financial-results-for-full-year-2024-302411162.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/noah-holdings-limited-announces-unaudited-financial-results-for-the-fourth-quarter-2024-and-audited-financial-results-for-full-year-2024-302411162.html<\/a><\/p>\n<p>SOURCE  Noah Holdings Limited<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=CN49321&amp;Transmission_Id=202503251700PR_NEWS_USPR_____CN49321&amp;DateId=20250325\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire SHANGHAI , March 25, 2025 \/PRNewswire\/ &#8212; Noah Holdings Limited (&#8220;Noah&#8221; or the &#8220;Company&#8221;) (NYSE: NOAH and HKEX: 6686), a leading and pioneer wealth management service provider offering comprehensive one-stop advisory services on global investment and asset allocation primarily for Mandarin-speaking high-net-worth investors, today announced its unaudited financial results for the fourth quarter of 2024 and the audited financial results for the full year ended December 31, 2024. FOURTH QUARTER 2024 FINANCIAL HIGHLIGHTS Net revenues for the fourth quarter of 2024 were RMB651.9 million (US$89.3 million), an 18.5% decrease from the corresponding period in 2023 and a 4.6% decrease sequentially, mainly due to a decrease in distribution of insurance products. Net revenues from mainland China for the fourth\u00a0quarter &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/noah-holdings-limited-announces-unaudited-financial-results-for-the-fourth-quarter-2024-and-audited-financial-results-for-full-year-2024\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;NOAH HOLDINGS LIMITED ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE FOURTH QUARTER 2024 AND AUDITED FINANCIAL RESULTS FOR FULL YEAR 2024&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-829737","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>NOAH HOLDINGS LIMITED ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE FOURTH QUARTER 2024 AND AUDITED FINANCIAL RESULTS FOR FULL YEAR 2024 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/noah-holdings-limited-announces-unaudited-financial-results-for-the-fourth-quarter-2024-and-audited-financial-results-for-full-year-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NOAH HOLDINGS LIMITED ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE FOURTH QUARTER 2024 AND AUDITED FINANCIAL RESULTS FOR FULL YEAR 2024 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire SHANGHAI , March 25, 2025 \/PRNewswire\/ &#8212; Noah Holdings Limited (&#8220;Noah&#8221; or the &#8220;Company&#8221;) (NYSE: NOAH and HKEX: 6686), a leading and pioneer wealth management service provider offering comprehensive one-stop advisory services on global investment and asset allocation primarily for Mandarin-speaking high-net-worth investors, today announced its unaudited financial results for the fourth quarter of 2024 and the audited financial results for the full year ended December 31, 2024. FOURTH QUARTER 2024 FINANCIAL HIGHLIGHTS Net revenues for the fourth quarter of 2024 were RMB651.9 million (US$89.3 million), an 18.5% decrease from the corresponding period in 2023 and a 4.6% decrease sequentially, mainly due to a decrease in distribution of insurance products. Net revenues from mainland China for the fourth\u00a0quarter &hellip; Continue reading &quot;NOAH HOLDINGS LIMITED ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE FOURTH QUARTER 2024 AND AUDITED FINANCIAL RESULTS FOR FULL YEAR 2024&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/noah-holdings-limited-announces-unaudited-financial-results-for-the-fourth-quarter-2024-and-audited-financial-results-for-full-year-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-25T21:03:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN49321&amp;sd=2025-03-25\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"39 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/noah-holdings-limited-announces-unaudited-financial-results-for-the-fourth-quarter-2024-and-audited-financial-results-for-full-year-2024\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/noah-holdings-limited-announces-unaudited-financial-results-for-the-fourth-quarter-2024-and-audited-financial-results-for-full-year-2024\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"NOAH HOLDINGS LIMITED ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE FOURTH QUARTER 2024 AND AUDITED FINANCIAL RESULTS FOR FULL YEAR 2024\",\"datePublished\":\"2025-03-25T21:03:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/noah-holdings-limited-announces-unaudited-financial-results-for-the-fourth-quarter-2024-and-audited-financial-results-for-full-year-2024\\\/\"},\"wordCount\":7828,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/noah-holdings-limited-announces-unaudited-financial-results-for-the-fourth-quarter-2024-and-audited-financial-results-for-full-year-2024\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=CN49321&amp;sd=2025-03-25\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/noah-holdings-limited-announces-unaudited-financial-results-for-the-fourth-quarter-2024-and-audited-financial-results-for-full-year-2024\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/noah-holdings-limited-announces-unaudited-financial-results-for-the-fourth-quarter-2024-and-audited-financial-results-for-full-year-2024\\\/\",\"name\":\"NOAH HOLDINGS LIMITED ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE FOURTH QUARTER 2024 AND AUDITED FINANCIAL RESULTS FOR FULL YEAR 2024 - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/noah-holdings-limited-announces-unaudited-financial-results-for-the-fourth-quarter-2024-and-audited-financial-results-for-full-year-2024\/","og_locale":"en_US","og_type":"article","og_title":"NOAH HOLDINGS LIMITED ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE FOURTH QUARTER 2024 AND AUDITED FINANCIAL RESULTS FOR FULL YEAR 2024 - Market Newsdesk","og_description":"PR Newswire SHANGHAI , March 25, 2025 \/PRNewswire\/ &#8212; Noah Holdings Limited (&#8220;Noah&#8221; or the &#8220;Company&#8221;) (NYSE: NOAH and HKEX: 6686), a leading and pioneer wealth management service provider offering comprehensive one-stop advisory services on global investment and asset allocation primarily for Mandarin-speaking high-net-worth investors, today announced its unaudited financial results for the fourth quarter of 2024 and the audited financial results for the full year ended December 31, 2024. 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