Core Insights - Life Time introduced a new hybrid fitness competition format with the inaugural LT Games, held on October 25-26, 2025, at Life Time Target Center in Minneapolis, featuring 150 competitors [1][3] - Lauren Weeks won first place overall and first place female with a record-setting time of 35:59, while Noah Ohlsen secured first place male and second overall with a time of 39:03 [2][3] Event Details - The LT Games consisted of 17 high-intensity strength and conditioning stages, testing participants' power, endurance, and mental toughness [1] - Life Time awarded over $20,000 in prize money to the top five male and female finishers [3] Sponsorship and Collaboration - The event was presented in collaboration with premium performance apparel brand Ten Thousand, along with other sponsors including Aion, Hyperice, and NOBULL Shoes [4] Training and Facilities - Life Time offers a complimentary LT Games training program through its app and has athletic country clubs equipped with best-in-class equipment used in the LT Games [5] Expansion of Athletic Events - The LT Games is part of Life Time's expanding lineup of athletic competitions, which includes the LT Open singles pickleball tournament and over 30 other athletic events [6]

Core Insights - Noah Holdings Limited participated as a global partner in the 8th Annual Conference of the Greenwich Economic Forum, emphasizing its role in wealth management for global Chinese high-net-worth investors [1][2] Group 1: Event Participation and Influence - The Greenwich Economic Forum convened over 400 global fund leaders, academics, and policymakers, featuring prominent speakers such as Ray Dalio and Nassim Nicholas Taleb, highlighting the forum's significance in alternative investments [2] - Noah, along with ARK Wealth Management and Olive Asset Management, shared their long-term investment philosophy, reinforcing their commitment to actionable strategies with global relevance [3] Group 2: Alternative Investments Focus - The forum serves as a testing ground for innovative investment thinking and risk management frameworks, particularly in alternative investments, which are increasingly critical in today's market [4] - Noah's expertise in alternative investments, especially in multi-asset portfolios and thematic strategies in energy and AI, showcases its ability to create diversified solutions for international investors [5] Group 3: Investment Strategies and Insights - The ARK Wealth H2 CIO Report advocates for a low-correlation allocation framework to capture structural opportunities, suggesting the use of "Volatility dampeners" and "Crisis alpha" to enhance portfolio stability [6] - Bridge assets, including multi-strategy hedge funds and US dollar stablecoins, are identified as key to enhancing portfolio flexibility and liquidity [7] Group 4: Client Empowerment and Technology - Alternative investments now account for approximately two-thirds of Noah's assets under management, reflecting the demand from Chinese investors for differentiated strategies [8] - Noah launched the AI-powered wealth management platform, iARK, to provide personalized investment experiences and real-time market insights, empowering investors to make informed decisions [9][10] Group 5: Commitment to Global Insights - Through platforms like the Greenwich Economic Forum, Noah and ARK aim to bridge knowledge gaps and provide practical insights to help Chinese high-net-worth families access investment opportunities [11]

Core Insights - Noah Holdings Limited is a leading wealth management service provider focused on global Chinese high-net-worth investors, participating as a global partner in the 8th Annual Conference of the Greenwich Economic Forum [1][12] Group 1: Event Participation and Influence - The Greenwich Economic Forum convened over 400 global fund leaders, academics, and policymakers, featuring key speakers like Ray Dalio and Nassim Nicholas Taleb, highlighting Noah's role in fostering cross-border collaboration in alternative investments [2][4] - Noah, along with ARK Wealth Management and Olive Asset Management, shared their long-term investment philosophy at the Forum, reinforcing their commitment to actionable strategies with global relevance [3][4] Group 2: Investment Strategies and Insights - The Forum serves as a platform for innovative investment thinking and risk management frameworks, emphasizing the importance of alternative investments in today's market [4] - Noah's expertise in alternative investments, particularly in multi-asset portfolios and thematic strategies in energy and AI, showcases its ability to create diversified solutions for international investors [5][8] - The ARK Wealth H2 CIO Report advocates for a low-correlation allocation framework to capture structural opportunities, suggesting a combination of "Volatility dampeners" and "Crisis alpha" to enhance portfolio stability [6][7] Group 3: Technological Innovation and Client Empowerment - Noah's alternative investments now account for approximately two-thirds of its assets under management (AUM), reflecting the demand for differentiated strategies among Chinese investors [8] - The launch of the AI-powered wealth management platform, iARK, aims to provide personalized investment experiences, enabling investors to make informed decisions through AI-driven insights [9][10] - The iARK app allows users to interact with Noah AI for real-time market insights and educational content, enhancing the investment decision-making process [10][11]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 諾亞控股私人財富資產管理有限公司 呈交日期: 2025年10月8日 | 1. 股份分類 | 普通股 | | 股份類別 | 不適用 | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06686 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 330,863,278 | | 6,762,680 | | 337,625,958 | | 增加 / 減少 (-) | | | | 28,860 | 0 | | | | 本月底結存 | | | 330,892,138 | | 6,762,680 | | 337,654,818 | 第 2 頁 共 10 頁 v 1.1.1 I. 法定/註冊股本變動 | 1. 股份分類 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不會就本公告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 Noah Holdings Noah Holdings Private Wealth and Asset Management Limited 諾亞控股私人財富資產管理有限公司 （於開曼群島以諾亞控股有限公司名義以有限責任註冊成立， 並以諾亞控股私人財富資產管理有限公司於香港經營業務） （股份代號：6686） 修訂有關認購私募債權數字收益基金的條款 茲提述諾亞控股私人財富資產管理有限公司（「本公司」）日期為2025年8月28日的 公告，內容有關認購私募債權數字收益基金A類權益（「該公告」）。除文義另有所 指外，本公告所用詞彙與認購公告所界定者具有相同涵義。 有關修訂的決定乃基於商業及審慎考量而作出。基金文件簽署後，美國加密貨幣 監管及管治環境近期出現變動。該等發展使得基金與其交易對手之間的相關借貸 協議的商業條款擬作修改，該等修改被視為對基金較為不利，且經董事會適當審 慎考慮後，認定該等修改將導致本公司投 ...

Financial Performance - Total revenue for the first half of 2025 was RMB 1,254,722 thousand, a decrease of 1.6% compared to RMB 1,274,843 thousand in the same period of 2024[5]. - Net income for the first half of 2025 increased by 39.4% to RMB 328,356 thousand, up from RMB 235,556 thousand in the first half of 2024[5]. - Management fee revenue rose by 2.3% to RMB 313,643 thousand, compared to RMB 306,634 thousand in the previous year[5]. - Performance fee revenue surged by 177.6% to RMB 27,878 thousand, up from RMB 10,043 thousand in the same period last year[5]. - For the six months ending June 30, 2025, the company's net income was RMB 1,244.1 million, a slight decrease of 1.7% compared to the same period in 2024, primarily due to a reduction in insurance product distribution[10]. - Shareholders' net profit increased by 41.6% to RMB 327.5 million for the six months ending June 30, 2025, compared to RMB 231.3 million for the same period in 2024[10]. - The company reported a 35.8% increase in operating income, rising from RMB 255.5 million in 2024 to RMB 347.0 million in 2025[12]. - The total revenue from wealth management business was RMB 862.7 million, a decrease of 2.2% from RMB 881.8 million in the first half of 2024[17]. - The adjusted net profit attributable to shareholders, a non-GAAP measure, increased by 33.9% to RMB 357.8 million from RMB 267.2 million in the previous year[12]. Operating Costs and Expenses - Operating costs decreased by 11.2% to RMB 897,061 thousand, down from RMB 1,009,888 thousand in the previous year[5]. - The company reported a significant increase in government subsidies, which rose by 68.9% to RMB 23,434 thousand[5]. - Total operating costs and expenses decreased by 11.2% from RMB 1,009.9 million in 2024 to RMB 897.1 million in 2025, mainly due to cost control strategies on employee compensation[53]. - Wealth management operating costs decreased by 12.4% from RMB 747.6 million in 2024 to RMB 654.6 million in 2025, attributed to reduced travel expenses and employee compensation control[57]. - Domestic public market securities operating costs decreased by 40.7% from RMB 950.28 million to RMB 563.99 million[61]. - Domestic asset management operating costs decreased by 53.6% from RMB 1,145.46 million to RMB 531.17 million[62]. - Domestic insurance operating costs decreased by 55.2% from RMB 824.13 million to RMB 369.36 million[63]. - Overseas wealth management operating costs decreased by 28.4% from RMB 2,872.49 million to RMB 2,055.62 million[64]. - Other operating expenses decreased by 61.6% from RMB 632 million to RMB 243 million[75]. Revenue Sources - The company aims to leverage its competitive advantage through personalized service models and an expanding global product portfolio[8]. - The company aims to expand its influence and investment share among global Chinese clients by investing in overseas markets and increasing its overseas financial advisor team[11]. - Domestic revenue slightly decreased compared to the same period in 2024, despite a 9.6% increase in income from publicly traded securities products, which partially offset a 12.7% decline in private equity product income[19]. - Overseas income accounted for 48% of total net income in the first half of 2025, representing a year-on-year growth, mainly from exclusive alternative investment products which increased by 18.9% compared to the same period last year[25]. - The number of overseas registered clients exceeded 18,800, a year-on-year increase of 13.0%, with active clients growing by 12.5% to over 3,600[27]. - Hedge fund and structured product fundraising reached $420 million, a year-on-year increase of 282.0%, while RMB-denominated private equity and private credit fund fundraising totaled $340 million, a 0.8% increase year-on-year[28]. - The overseas asset management division's active management product assets reached $41.4 billion, a year-on-year increase of 5.9%[28]. - The company aims to expand its customer base, particularly targeting high-net-worth investors in the U.S. and Canada[31]. - The company plans to enhance its product portfolio and investment capabilities to better serve a diverse customer base[32]. Strategic Initiatives - The company established its global headquarters in Singapore and formed a strategic partnership with Tokyo Star Bank in Japan during the first half of 2025[8]. - The company is focusing on adapting to a new paradigm driven by technology-induced deflation and efficiency gains for future growth[7]. - The company continues to emphasize education for clients and employees to navigate upcoming market changes[8]. - Cost reduction measures are expected to provide a solid foundation for margin expansion as revenues recover[32]. - The company plans to use 20% (HKD 63.1 million) for selective potential investments, with a timeline extended to the end of 2026[118]. Shareholder Information - The company does not recommend an interim dividend for the six months ending June 30, 2025[116]. - The company adopted a share incentive plan in 2022 to further align employee interests with company performance[97]. - The company has established standard labor, confidentiality, and non-competition agreements with employees[96]. - The company authorized a share repurchase plan on August 29, 2024, allowing for the repurchase of up to $50 million of American Depositary Shares over a two-year period[110]. - During the reporting period, the company repurchased a total of 739,834 American Depositary Shares, equivalent to 3,699,170 shares, at a total cost of $6,639,063.37[110]. Legal and Compliance - The company continues to comply with all relevant laws and regulations impacting its business operations, including the Securities and Futures Ordinance and the Insurance Ordinance[18]. - The company is involved in ongoing legal proceedings with 109 investors related to the Chengxing incident, with total claims exceeding RMB 358.5 million[121]. - The company has received a civil judgment requiring it to pay RMB 99.0 million in damages, which has been partially overturned in a subsequent ruling[122]. - The company has not faced any pending or ongoing legal, arbitration, or administrative proceedings that could significantly adversely affect its business or financial condition[123]. Employee Relations - The company maintains competitive compensation and performance-based dynamic work environment to attract and retain qualified personnel[96]. - Continuous investment in employee training and education programs is emphasized, including formal and on-the-job training for new hires[97]. - The total number of employees as of June 30, 2025, was 1,908, with 28.1% in business development roles[94]. - The company has not experienced any significant labor disputes during the reporting period, indicating good employee relations[97]. Investment and Assets - The company’s total assets amounted to RMB 117 billion with no interest-bearing debt, maintaining a robust capital structure[18]. - Cash and cash equivalents amounted to RMB 3,821.8 million as of June 30, 2025, indicating sufficient liquidity for at least the next 12 months[81]. - The company reported a total of 1,000,000,000 shares authorized as of December 31, 2024, with 335,153,359 shares issued and outstanding[138]. - The company’s total equity as of June 30, 2025, was RMB 9,661,763, down from RMB 10,012,740 as of December 31, 2024, reflecting a decrease of about 3.49%[138]. - The company has over 200 subsidiaries operating in various sectors, primarily focusing on wealth management services for high-net-worth individuals[151]. - The company has maintained a 100% ownership in its key subsidiaries, including Noah Investment Management and Noah Wealth Management, which are pivotal to its operations in China and Hong Kong[152].

智通财经APP讯，诺亚控股(06686)发布公告，该公司于2025年9月12日根据新和解计划授予的限制性股 票单位归属，并且根据发行授权发行新普通股2.89万股。 ...

诺亚控股(06686)发布公告，该公司于2025年9月12日根据新和解计划授予的限制性股票单位归属，并且 根据发行授权发行新普通股2.89万股。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 06686 | 說明 | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | 事件 | | 已發行股份（不包括庫存股份）數 目 | 佔有關事件前的現有已發 行股份（不包括庫存股 份）數目百分比 (註3) | 庫存股份數目 | 每股發行/出售價 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 諾亞控股私人財富資產管理有限公司 呈交日期: 2025年9月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06686 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | USD | | 0.00005 | USD | | 50,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 1,000,000,000 | USD | | 0.00005 | USD | | 50,000 | 本月底法定/ ...