NOAH - Noah Holdings: Back On The Path Of Growth
- Noah Holdings' 4Q 2020 financial performance was good, with its net revenues and adjusted net profit up +20.9% YoY and +121.1% YoY, respectively, in the last quarter of 2020.
- A continued shift in focus from non-standardized products to standardized products has helped Noah Holdings' wealth management business deliver strong net revenues growth in the most recent quarter.
- Noah Holdings is guiding for a +11% YoY growth in net profit for FY 2021; the new client servicing model and future acquisitions could be its key growth drivers.
- Noah Holdings is valued by the market at consensus forward FY 2021 and FY 2022 P/E multiples of 14.0 times and 11.7 times, respectively.
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Noah Holdings: Back On The Path Of Growth