Noah Holdings Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	4,281	4,361	3,822	5,192	4,404	3,405
Short-Term Investments	833.75	511.84	1,134	294.92	108.31	78
Trading Asset Securities	-	145.72	140.96	84.54	207.67	14.8
Cash & Short-Term Investments	5,114	5,018	5,097	5,572	4,720	3,497
Cash Growth	-5.14%	-1.54%	-8.52%	18.05%	34.95%	-31.69%
Accounts Receivable	1,016	411.96	466.01	494.78	912.29	1,209
Other Receivables	-	604.97	507.01	403.09	-	-
Receivables	1,127	1,129	1,142	1,185	1,407	1,855
Restricted Cash	11.25	11.14	8.7	154.43	23.2	0.51
Other Current Assets	211.82	201.57	226.97	206.25	166.74	163.71
Total Current Assets	6,465	6,361	6,475	7,117	6,317	5,517
Property, Plant & Equipment	2,418	2,459	2,503	2,621	2,655	2,805
Long-Term Investments	2,304	2,498	2,344	2,337	2,266	2,071
Long-Term Deferred Tax Assets	310.05	310.29	319.21	431.49	436.44	335.91
Other Long-Term Assets	115.57	112.49	137.29	178.58	62.12	95.83
Total Assets	11,612	11,741	11,779	12,685	11,798	10,890
Accounts Payable	-	126.19	122.62	104.48	117.15	71.59
Accrued Expenses	404.48	481.01	559.86	795.34	850.73	1,284
Short-Term Debt	-	3.84	15.38	188.7	10.46	10.83
Current Portion of Leases	-	39.19	44.89	61.83	84.36	91.29
Current Income Taxes Payable	146.67	147.51	63.89	89.69	126.85	190.26
Current Unearned Revenue	58.96	54.4	72.26	72.82	67.97	63.63
Other Current Liabilities	749.78	575.06	550.37	578.35	647.45	571.74
Total Current Liabilities	1,360	1,427	1,429	1,891	1,905	2,283
Long-Term Leases	52.48	60.34	75.73	76.53	83.17	130.96
Long-Term Deferred Tax Liabilities	261.65	263.61	246.09	262.4	249.77	234.13
Other Long-Term Liabilities	6.94	6.82	15.01	27.66	59.76	100.02
Total Liabilities	1,681	1,758	1,766	2,258	2,298	2,748
Common Stock	9,931	0.11	0.11	0.11	0.11	0.1
Additional Paid-In Capital	-	3,974	3,908	3,799	3,803	3,535
Retained Earnings	-	5,815	5,905	6,437	5,605	5,187
Treasury Stock	-	-4.1	-53.35	-	-	-541.38
Comprehensive Income & Other	-	41.75	186.55	74.62	-2.55	-140.01
Total Common Equity	9,931	9,827	9,946	10,310	9,406	8,041
Minority Interest	-	156.11	66.89	117.23	94.78	100.87
Shareholders' Equity	9,931	9,983	10,013	10,428	9,500	8,142
Total Liabilities & Equity	11,612	11,741	11,779	12,685	11,798	10,890
Total Debt	52.48	103.37	135.99	327.06	177.99	233.08
Net Cash (Debt)	5,062	4,915	4,961	5,245	4,542	3,264
Net Cash Growth	-4.98%	-0.92%	-5.41%	15.47%	39.14%	-32.21%
Net Cash Per Share	75.99	69.82	70.40	75.48	66.41	48.31
Filing Date Shares Outstanding	66.62	66.62	66.08	65.26	62.6	45.2
Total Common Shares Outstanding	66.62	66.62	66.08	65.26	62.6	45.19
Working Capital	5,105	4,933	5,045	5,226	4,412	3,234
Book Value Per Share	149.08	147.52	150.52	157.99	150.24	177.93
Tangible Book Value	9,931	9,827	9,946	10,310	9,406	8,041
Tangible Book Value Per Share	149.08	147.52	150.52	157.99	150.24	177.93
Buildings	-	2,531	2,479	2,479	2,479	2,479
Machinery	-	137.16	157.92	176.87	168.49	182.95
Construction In Progress	-	26.02	18.19	23.03	41.06	16.6
Leasehold Improvements	-	197.31	175.04	175.06	154.9	176.44