Exhibit 99.2 2023 Sustainability Report 諾亞控股私人財富資產管理有限公司 ...

Financial Performance - Total revenue for the six months ended June 30, 2023, was RMB 1,754,236, representing a 13.1% increase compared to RMB 1,550,904 for the same period in 2022[11]. - Net income for the six months ended June 30, 2023, was RMB 555,631, a decrease of 14.9% from RMB 653,099 in the same period last year[12]. - Operating income decreased by 1.4% to RMB 628.3 million from RMB 636.9 million for the six months ended June 30, 2022[38]. - Non-GAAP net income decreased by 17.3% to RMB 552.6 million, primarily due to reduced investment income from associates[17]. - Basic earnings per share for the six months ended June 30, 2023, was RMB 16.12, compared to RMB 19.46 for the same period in 2022, indicating a decline of approximately 17.9%[103]. Revenue Breakdown - Fund-raising fee income increased by 120.5% to RMB 570,092 from RMB 258,493 year-on-year[11]. - Performance fee income saw a significant decline of 94.9%, dropping to RMB 7,758 from RMB 152,392 year-on-year[11]. - The wealth management segment generated total revenue of RMB 1,336.7 million, a 22.3% increase from RMB 1,092.8 million in the first half of 2022, driven by a 113.1% increase in fundraising fee income[21]. - The asset management segment reported total revenue of RMB 389.9 million, a decrease of 5.7% compared to the same period in 2022, primarily due to a 73.0% decline in private equity product distribution revenue[22]. - Total revenue from other businesses fell by 38.3% from RMB 44.8 million to RMB 27.6 million, mainly due to a continuous reduction in lending activities[28]. Operating Costs and Expenses - Operating costs and expenses totaled RMB 1,116,928, an increase of 24.5% from RMB 896,894 year-on-year[11]. - Operating costs for wealth management business rose by 25.8% from RMB 657.9 million to RMB 827.5 million, mainly due to increased client events and travel expenses[31]. - Total compensation and benefits for the period amounted to RMB 755.2 million, an increase of 5.4% from RMB 715.7 million for the six months ended June 30, 2022[34]. - Sales expenses for wealth management rose by 39.4% to RMB 156.9 million, primarily due to increased client events[34]. - General and administrative expenses for wealth management increased by 23.8% to RMB 76.2 million, mainly due to increased travel expenses and a one-time loss from the sale of a previously leased property[35]. Asset Management and Investments - The company's asset management scale reached RMB 156.9 billion as of June 30, 2023, a 0.9% increase year-over-year, with overseas asset management scale growing to USD 4.7 billion, up 15.8%[22]. - The company reported a total of RMB 980,257,000 (approximately $135,184,000) in long-term investments as of June 30, 2023, compared to RMB 774,095,000 as of December 31, 2022[97]. - The total fair value of other long-term investments was RMB 645,363 as of June 30, 2023, with RMB 505,249 classified as Level 3 inputs, indicating a reliance on unobservable inputs for valuation[175]. - The company recorded an investment loss of RMB 13,343 from the sale of long-term investments for the six months ended June 30, 2023, compared to no loss in the same period of 2022[168]. - The company’s third-level investments increased from RMB 358,351 as of January 1, 2023, to RMB 505,249 as of June 30, 2023, reflecting a significant increase in the fair value of these investments[176]. Compliance and Governance - The company maintains a commitment to compliance and has never established a fund pool, ensuring independent custody of fund products and no leverage provision to clients[6]. - The company emphasizes compliance with all relevant laws and regulations, maintaining a robust capital structure with no interest-bearing debt as of June 30, 2023[22]. - The company operates under the US Generally Accepted Accounting Principles (GAAP) and complies with the listing rules of the Hong Kong Stock Exchange, ensuring transparency in financial reporting[119]. - The company has established contractual arrangements to consolidate the financial performance of its variable interest entities, including Noah Investment, which allows for effective control over its operations in China[123]. - The company has not reported any significant changes in its major accounting policies as of the end of 2022, maintaining consistency in its financial reporting practices[121]. Shareholder Information - Significant shareholdings include 21.33% by Ms. Wang Jingbo and 5.35% by Mr. Yin Zhe, among others, indicating strong insider ownership[53]. - Major shareholders include Noah Trust (Hong Kong) Limited with 8,526,944 shares (26.69%) and Jing Investors Co., Ltd. with 6,815,144 shares (21.33%) of the total issued shares[58]. - The company has established a family trust for wealth management and inheritance planning purposes, controlled by key individuals[54]. - The company has a maximum share issuance limit of 2,800,000 shares under its 2017 incentive plan, which includes stock options and restricted shares[200]. - The board proposed a stock split, changing the par value from $0.0005 to $0.00005, with a new ratio of one American depositary share representing five post-split shares[87]. Legal and Contingent Liabilities - The company is involved in ongoing legal proceedings with 42 investors related to the Chengxing incident, with total claims exceeding RMB 140 million[86]. - A civil judgment from December 2022 ordered the company to pay RMB 99 million, which is currently under appeal[86]. - The company has reserved a contingent liability of RMB 99 million related to the aforementioned judgment as of June 30, 2023[86]. - As of June 30, 2023, the company reported contingent liabilities of RMB 592.1 million related to unresolved litigation, an increase from RMB 568.0 million as of December 31, 2022, primarily due to exchange rate fluctuations[47]. - The company has no significant contingent liabilities or lawsuits that could adversely affect its business or financial condition, aside from those disclosed[47].

Noah Holdings Limited (NYSE:NOAH) Q2 2023 Results Conference Call August 28, 2023 8:00 PM ET Company Participants Melo Xi - Director, IR Wang Jingbo - Co-Founder, Chairlady and CEO Grant Pan - CFO Conference Call Participants Chiyao Huang - Morgan Stanley Peter Zhang - JP Morgan Operator Good day, and welcome to the Noah Holdings Second Quarter 2023 Earnings Conference Call. [Operator Instructions] I would now like to turn the conference over to Melo Xi, Director of Investor Relations. Please go ahead. Melo ...

Financial Performance - For the six months ended June 30, 2023, net income reached RMB 1,745.2 million, an increase of 13.8% compared to RMB 1,533.5 million in the same period of 2022[5] - Total revenue for the six months ended June 30, 2023, reached RMB 1,754.2 million, a 13.1% increase from RMB 1,550.9 million in the same period of 2022[6] - Non-GAAP net income decreased by 17.3% to RMB 552.6 million, down from RMB 668.6 million in the same period of 2022, primarily due to reduced investment income from associates[5] - The adjusted net income attributable to shareholders, a non-GAAP measure, decreased by 14.5% to RMB 559.6 million from RMB 654.2 million year-over-year[6] - Net income for the same period was RMB 1,745.2 million, reflecting a 13.8% growth compared to RMB 1,533.8 million in the previous year[6] - Operating income decreased by 1.4% from RMB 636.9 million for the six months ended June 30, 2022, to RMB 628.3 million for the six months ended June 30, 2023[27] - Net income decreased by 14.9% from RMB 653.1 million for the six months ended June 30, 2022, to RMB 555.6 million for the six months ended June 30, 2023[28] Revenue Segments - The wealth management segment generated total revenue of RMB 1,336.7 million, up 22.3% from RMB 1,092.8 million in the first half of 2022, driven by a 113.1% increase in fundraising fees[9] - The asset management segment reported total revenue of RMB 389.9 million, a decline of 5.7% due to a 73.0% drop in private equity product distribution revenue[10] - Fundraising fee revenue in wealth management surged by 113.1% from RMB 271.9 million to RMB 579.5 million, primarily due to increased distribution of insurance products[13] - Fundraising fee revenue in asset management plummeted by 93.5% from RMB 38.7 million to RMB 2.5 million, mainly due to a 73.0% drop in private equity product distribution[15] Business Expansion and Strategy - The international wealth management team expanded to 56 private bankers, with a target of reaching 100 in Hong Kong and 20 in Singapore by the end of 2023[4] - The company remains optimistic about growth opportunities in China, particularly in the technology sector, as economic recovery continues[11] - By the end of 2023, the company aims to have 100 private bankers in Hong Kong and 20 in Singapore to better serve overseas Chinese clients[11] - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in regional assets under management by the end of 2024[89] - A strategic acquisition of a local asset management firm is anticipated to enhance the company's service capabilities and increase market share by 10%[89] Compliance and Governance - The company has maintained a commitment to compliance and has not established any fund pools, ensuring independent custody of client accounts[3] - The company emphasizes compliance with all relevant laws and regulations impacting its business operations, including the Securities and Futures Ordinance and the Insurance Ordinance[10] - The company is committed to enhancing corporate governance practices in line with the latest regulatory requirements[89] Costs and Expenses - Operating costs and expenses rose by 24.5% from RMB 896.9 million to RMB 1,116.9 million, driven by increased client events and travel expenses[18] - Wealth management operating costs increased by 25.8% from RMB 657.9 million to RMB 827.5 million, attributed to higher client event and travel expenses[19] - Total compensation and benefits for the reporting period increased to RMB 755.2 million, up from RMB 715.7 million for the six months ended June 30, 2022[21] - Wealth management business compensation and benefits rose by 13.6% to RMB 591.9 million for the six months ended June 30, 2023, compared to RMB 521.1 million for the same period in 2022[22] Assets and Liabilities - The total assets of the company reached RMB 12.6 billion with no interest-bearing debt, maintaining a robust capital structure[10] - Total assets increased to RMB 12,563,357 as of June 30, 2023, from RMB 11,798,135 as of December 31, 2022, reflecting a growth of about 6.5%[49] - Total liabilities rose to RMB 2,493,704 as of June 30, 2023, compared to RMB 2,297,660 as of December 31, 2022, an increase of approximately 8.5%[49] - Shareholders' equity increased to RMB 10,069,653 as of June 30, 2023, from RMB 9,500,475 as of December 31, 2022, representing a growth of about 6.0%[49] Legal and Contingent Liabilities - As of June 30, 2023, the company reported contingent liabilities related to unresolved incidents and civil lawsuits amounting to RMB 592.1 million, an increase from RMB 568.0 million as of December 31, 2022, primarily due to exchange rate fluctuations[33] - The company has 42 unresolved legal claims related to the Chengxing incident, with total claims exceeding RMB 140 million[42] - The company has reserved a contingent liability of RMB 99 million related to a civil judgment from December 2022, which is currently under appeal[42] Shareholder Information - The company did not recommend an interim dividend for the six months ended June 30, 2023[43] - The company reported a diluted earnings per share of RMB 16.10 for the six months ended June 30, 2023, compared to RMB 19.40 in the same period of 2022[46] - Basic earnings per share (EPS) for the first half of 2023 was RMB 16.12, down from RMB 19.46 in the same period of 2022, representing a decrease of 16.0%[60] Future Outlook - The outlook for U.S. private equity acquisitions and private credit products is promising due to favorable interest rate conditions and advancements in artificial intelligence[11] - The company aims for a revenue growth target of 15% for the upcoming fiscal year, driven by increased client engagement and new product launches[89] - New product offerings are expected to contribute an additional RMB 200 million in revenue for the next fiscal year[89]

Financial Performance - In Q2 2023, Noah Holdings reported net revenue of RMB 941.8 million (USD 129.9 million), a 27.6% increase year-over-year and a 17.2% increase from Q1 2023, primarily driven by increased distribution of insurance products[4]. - Wealth management revenue reached RMB 745.3 million, up 46.5% year-over-year, while asset management revenue decreased by 12.8% to RMB 183.4 million[5]. - Operating income for Q2 2023 was RMB 349.4 million (USD 48.2 million), an 8.1% increase year-over-year, with a 25.3% increase compared to Q1 2023[6]. - Net income attributable to shareholders was RMB 315.4 million (USD 43.5 million), a 9.6% decrease year-over-year, but a 29.2% increase from Q1 2023[6]. - Non-GAAP net income for Q2 2023 was RMB 313.1 million (USD 43.2 million), an 11.8% decrease year-over-year, but a 30.7% increase from Q1 2023[7]. - The net income for Q2 2023 was RMB 941.8 million (USD 129.9 million), representing a 27.6% increase year-over-year, primarily due to increased distribution of insurance products[14]. - Net income from fundraising fees in Q2 2023 was RMB 403.9 million (USD 55.7 million), up 127.2% year-over-year, driven by higher distribution of insurance products[15]. - Net income from management fees in Q2 2023 was RMB 269.3 million (USD 37.1 million), a decrease of 7.3% year-over-year, attributed to lower management fees from private equity fund products[15]. - The operating profit margin for Q2 2023 was 37.1%, down from 38.1% in the same period of 2022[19]. - The company reported a gross profit margin of 43.8% for the three months ended June 30, 2023, compared to 37.1% in the same period last year[31]. Client and Advisor Metrics - As of June 30, 2023, the total number of registered clients was 446,557, a 6.7% increase year-over-year, and active clients totaled 11,548, a 10.2% decrease year-over-year[8]. - The number of financial advisors increased to 1,375, a 9.6% increase year-over-year, with 56 overseas advisors, doubling from Q1 2023[10]. - Active client numbers decreased by 10.2% to 11,548 for the three months ended June 30, 2023, compared to 12,866 in the same period of 2022[36]. - The number of registered clients increased by 6.7% to 446,557 as of June 30, 2023, up from 418,675 in the previous year[35]. Investment and Asset Management - The total value of investment products distributed in Q2 2023 was RMB 18.4 billion (USD 2.5 billion), a 4.7% decrease year-over-year, with private equity product distribution down 84.2%[8]. - As of June 30, 2023, total managed assets amounted to RMB 156.9 billion (USD 21.6 billion), a decrease of 0.5% compared to March 31, 2023[12]. - The company distributed investment products worth RMB 35.2 billion (USD 4.9 billion) in the first half of 2023[26]. - The company reported a net investment in associates of RMB 1,464,702 thousand as of June 30, 2023, slightly up from RMB 1,474,736 thousand, reflecting a decrease of approximately 0.6%[30]. Operational Costs and Expenses - Operating costs and expenses for Q2 2023 were RMB 592.3 million (USD 81.7 million), an increase of 42.7% compared to the same period in 2022[18]. - Operating costs for the wealth management business in Q2 2023 were RMB 445.1 million (USD 61.4 million), an increase of 41.4% year-over-year[18]. - The total operating expenses for the six months ended June 30, 2023, were RMB 1,116,928, an increase of 24.5% from RMB 896,894 in the same period last year[32]. Cash Flow and Financial Position - As of June 30, 2023, the company's cash and cash equivalents amounted to RMB 4,740.4 million (USD 653.7 million), an increase from RMB 4,713.2 million as of March 31, 2023[21]. - The net cash inflow from operating activities in Q2 2023 was RMB 176.4 million (USD 24.3 million)[21]. - The net cash outflow from investing activities in Q2 2023 was RMB 329.2 million (USD 45.4 million), primarily due to several investments made[22]. - The net cash inflow from financing activities in Q2 2023 was RMB 87.0 million (USD 12.0 million), mainly due to the merger of an investment fund managed by Gao Fei[22]. - The total assets amounted to RMB 12,181,186 thousand, a decrease from RMB 12,563,357 thousand as of March 31, 2023, representing a decline of approximately 3.0%[30]. - Total liabilities were reported at RMB 2,493,704 thousand as of June 30, 2023, down from RMB 2,459,980 thousand, reflecting a decrease of approximately 1.4%[30]. - Shareholders' equity decreased to RMB 10,069,653 thousand as of June 30, 2023, from RMB 9,721,206 thousand, marking a decline of around 3.5%[30]. Future Strategies and Developments - The company has plans to enhance its product offerings and services through increased investment in research and development[28]. - The company aims to strengthen relationships with key clients and adapt to market trends and technological advancements[28]. - Future business development strategies will focus on expanding market presence and exploring potential mergers and acquisitions[28].

Exhibit 99.1 NOAH HOLDINGS LIMITED ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE THIRD QUARTER OF 2023 SHANGHAI, November 30, 2023 — Noah Holdings Limited ("Noah" or the "Company") (NYSE: NOAH and HKEX: 6686), a leading wealth management service provider in China offering comprehensive global investment and asset allocation advisory services primarily for high net worth investors, today announced its unaudited financial results for the third quarter of 2023. THIRD QUARTER 2023 FINANCIAL HIGHLIGHTS · Net rev ...

Noah Holdings Limited (NYSE:NOAH) Q1 2023 Results Conference Call May 30, 2023 8:00 PM ET Company Participants Melo Xi - IR Wang Jingbo - CEO Grant Pan - CFO Conference Call Participants Helen Lee - UBS Chiyao Huang - Morgan Stanley Melo Xi Good morning, everyone, and welcome to Noah's 2023 First Quarter Earnings Call. I'm Melo Xi, Director of Investor Relations at Noah Group. Presenters joining us today are Ms. Wang Jingbo, our Co-Founder, Chair Lady and CEO; and Mr. Grant Pan, our CFO. I'd also like to in ...

Financial Performance - In Q1 2023, net revenue was RMB 803.5 million (USD 117.0 million), a 1.0% increase year-over-year, driven by a 72.8% increase in revenue from insurance product distribution, partially offset by a 52.1% decrease in performance fee income from private equity securities funds[4]. - Operating income for Q1 2023 was RMB 278.9 million (USD 40.6 million), a decrease of 11.1% year-over-year, primarily due to a 61.4% increase in sales expenses from overseas client activities[5]. - Net income attributable to shareholders for Q1 2023 was RMB 244.2 million (USD 35.6 million), a decrease of 20.0% year-over-year, mainly due to a decline in operating income and investment income[6]. - The operating profit margin for Q1 2023 was 34.7%, down from 39.4% in Q1 2022[18]. - The company's net profit for Q1 2023 was RMB 243.3 million (USD 35.4 million), a decrease of 20.0% year-over-year, attributed to increased sales expenses[20]. - Non-GAAP net income attributable to shareholders for Q1 2023 was RMB 239.5 million (USD 34.9 million), a decrease of 23.6% year-over-year, but an increase of 60.6% compared to Q4 2022[6]. - The net profit margin for the company improved to 38.4% from 30.4% year-over-year[40]. Client and Advisor Metrics - As of March 31, 2023, the total number of registered clients was 440,664, a 6.2% increase year-over-year, while the number of active clients decreased by 24.9% year-over-year to 11,236[7]. - The number of financial advisors increased to 1,327 as of March 31, 2023, a 3.6% increase year-over-year, with a significant 64.7% increase in overseas financial advisors[9]. - The company streamlined its domestic coverage, reducing the number of cities covered from 83 to 68 as of March 31, 2023[8]. - Active customer count decreased to 11,236, a decline of 24.9% from 14,970 in the previous year[34]. Investment Products and Assets - The total value of investment products distributed in Q1 2023 was RMB 16.8 billion (USD 2.4 billion), a 12.0% increase year-over-year, driven by a 40.3% increase in public fund products[7]. - Total managed assets as of March 31, 2023, were RMB 157.6 billion (USD 22.9 billion), a 1.3% increase year-over-year, indicating relative stability in asset management operations[10]. - The total assets as of March 31, 2023, amounted to RMB 12,181,186 thousand, compared to RMB 11,798,135 thousand at the end of 2022[30]. - Total income from the funds managed by the company reached RMB 369,693 million, reflecting strong performance in management fees[35]. Revenue Sources - The net income from fundraising fees in Q1 2023 was RMB 173.5 million (USD 25.3 million), up 87.4% compared to the same period in 2022, driven by increased distribution of insurance products[14]. - The company reported a significant increase in performance fee income, which rose by 97.6% to RMB 142,911 thousand from RMB 3,430 thousand year-over-year[31]. - The company reported a decrease in performance fee income to RMB 55.7 million (USD 8.1 million) in Q1 2023, down from RMB 156.0 million in the same period last year[14]. Operational Insights - The company's operating costs and expenses in Q1 2023 were RMB 524.6 million (USD 76.4 million), an increase of 8.9% year-over-year, mainly due to higher compensation and benefits[17]. - The company anticipates continued growth in fundraising volume, with a 12.0% year-over-year increase in Q1 2023, supported by the recovery of the Chinese economy[12]. - The company is focused on enhancing its product offerings and services through research and development investments[28]. - Noah Holdings aims to strengthen relationships with key clients and adapt to market trends and technological advancements[28]. - The company is committed to maintaining compliance with government policies and regulations affecting the wealth management industry[28]. Financial Reporting - Noah Holdings emphasizes the importance of non-GAAP financial measures to provide additional insights into operational performance[25]. - Management believes that non-GAAP measures supplement the understanding of financial and business trends[25]. - The company’s financial performance is reported in RMB, with a conversion rate of 6.8676 RMB to 1 USD as of March 31, 2023[27].

Exhibit 99.1 NOAH HOLDINGS LIMITED ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE SECOND QUARTER OF 2023 SHANGHAI, August 29, 2023 — Noah Holdings Limited ("Noah" or the "Company") (NYSE: NOAH and HKEX: 6686), a leading and pioneer wealth management service provider in China offering comprehensive one-stop advisory services on global investment and asset allocation primarily for high net worth investors, today announced its unaudited financial results for the second quarter of 2023. SECOND QUARTER 2023 FINAN ...

Financial Performance - Total revenue for 2022 was RMB 3,128,877,000, a decrease of 27.8% compared to RMB 4,326,600,000 in 2021[8] - Net income for 2022 was RMB 976,571,000, down from RMB 1,314,131,000 in 2021, representing a decline of 25.7%[10] - Management fees for 2022 amounted to RMB 768,980,000, a decrease of 15.8% from RMB 913,700,000 in 2021[8] - Performance fee income in 2022 was RMB 184,048,000, significantly lower than RMB 391,903,000 in 2021, reflecting a decline of 53%[8] - The company reported a total income from managed funds of RMB 1,334,772,000 in 2022, down from RMB 1,728,121,000 in 2021, a decrease of 22.8%[8] - Operating costs for 2022 totaled RMB 2,011,923,000, a reduction from RMB 3,094,196,000 in 2021, indicating a cost-cutting strategy[8] - The company’s interest income for 2022 was RMB 61,416,000, a decrease from RMB 71,866,000 in 2021[10] - The adjusted net income attributable to shareholders was RMB 1.009 billion in 2022, a decrease of 26.5% from RMB 1.373 billion in 2021[16] - Operating income declined by 9.2% from RMB 1,198.9 million in 2021 to RMB 1,088.4 million in 2022[37] - Net income decreased by 25.6% from RMB 1,306.1 million for the year ended December 31, 2021, to RMB 971.6 million for the year ended December 31, 2022[38] Business Strategy and Market Position - The company plans to focus on expanding its market presence and enhancing its product offerings in the upcoming fiscal year[6] - The board reported a strategic shift towards technology-driven solutions to improve operational efficiency and client engagement[6] - The company is exploring potential mergers and acquisitions to bolster its asset management capabilities and market share[6] - The company recommended a "protect first, then grow" asset allocation strategy to clients in response to macroeconomic uncertainties[13] - The company aims to meet the increasing asset allocation needs of high-net-worth individuals in China through robust wealth and asset management capabilities[23] Client and Fund Management - The number of black card clients increased by 18.2% to 9,689 in 2022, up from 8,197 in 2021[13] - The overseas business generated net income of RMB 828.4 million, accounting for 26.7% of total revenue in 2022, up from 23.5% in 2021[13] - The total assets under management reached RMB 32.5 billion, a 14.7% increase from 2021, driven by successful fundraising for alternative investment products[13] - Public fund product fundraising increased by 16.0% to RMB 43.1 billion in 2022, up from RMB 37.2 billion in 2021[15] - The company successfully restored over 1,000 lost or inactive accounts, enhancing overall customer satisfaction[13] Operational Efficiency - Operating profit margin improved from 27.9% to 35.1% due to effective cost management and reduced travel activities during COVID-19 lockdowns[15] - Wealth management operating costs decreased by 35.8% from RMB 2,273.4 million in 2021 to RMB 1,458.5 million in 2022, driven by reduced product distribution[30] - Operating costs and expenses reduced by 35.0% from RMB 3,094.2 million in 2021 to RMB 2,011.9 million in 2022, mainly due to decreased advisor compensation and cost control measures[29] Regulatory and Compliance - The company has implemented risk management and internal control policies, including effective operations and reliable financial reporting[57] - The company has adopted anti-money laundering policies and established a reporting system to prevent money laundering activities[58] - The company has complied with relevant laws and regulations, with no significant violations reported for the year ending December 31, 2022[60] - The company has established a risk management and internal control system to manage significant risks, providing reasonable assurance against material misstatements or losses[151] Corporate Governance - The company transitioned to a dual primary listing on the Hong Kong Stock Exchange on December 23, 2022, enhancing its corporate governance framework[117] - The board consists of nine members, including three executive directors, two non-executive directors, and four independent directors, ensuring a balanced governance structure[123] - The company has established three committees: audit committee, remuneration committee, and corporate governance and nomination committee[130] - The board retains decision-making authority over significant matters related to policy, strategy, budget, and risk management[129] Shareholder and Financial Policies - The proposed final dividend for the year ended December 31, 2022, is RMB 5.5 per share, totaling approximately RMB 1.765 billion (equivalent to USD 256 million) subject to shareholder approval[85] - The company has implemented a dividend policy to distribute at least 10% of the audited annual net profit attributable to shareholders, influenced by various factors[84] - The company has established a compensation committee to determine the remuneration policy for executive directors and senior management based on qualifications, positions, and experience[91] Risk Factors - The company faces various risks, including potential negative impacts on reputation and client relationships due to unrecognized investment risks[53] - Regulatory changes in China's wealth management and asset management sectors may affect the company's operations if necessary licenses are not maintained[54] - Risks related to the inability of PCAOB to fully inspect auditors in China may lead to the delisting of American Depositary Shares, significantly impacting investment value[55] Legal Matters - The company is currently involved in a civil lawsuit where a court has ordered it to pay RMB 99 million in damages, pending an appeal[195] - The company has not faced any other significant legal, arbitration, or administrative proceedings that could adversely affect its business or financial condition as of December 31, 2022[195] Employee and Management - The company employed a total of 2,884 staff as of December 31, 2022, with 44.2% in financial advisory roles and 17.7% in wealth management[46] - The company has invested in employee training and development programs to ensure compliance with policies and procedures[46] - The leadership team includes professionals with extensive experience in investment, finance, and technology, contributing to the company's strategic direction[109][112]