Back to Hong Kong to break the difficulties, Wang Jingbo’s Noah's wealth requires more stories

Noah's wealth was listed on the New York Stock Exchange in 2010, becoming the first financial management of US stocks, and also China's largest independent wealth manager. On July 13, Noah Holdings (stock code: 6686) officially listed on the Hong Kong Exchange, becoming the first Chinese independent wealth management institution to realize the listing of Hong Kong stocks and US stocks. Hong Kong stocks and US stocks listed on the two places.

Unfortunately, the uncomfortable wishes will be broken on the first day of the listing.

Noah Holdings 714 closing price

An agent analyzed that this time Noah Holdings was unexpected and reasonable. There were three main reasons: 1. The performance declined; second, the thunder of the thunder in Chengxing, the doubt of the clouds, and the existence of Yu Wei; 3. The Hong Kong stock market environment office; To.

1. Performance decline

The prospectus shows that the total revenue of Noah Holdings in 2019, 2020 and 2021 was 3.413 billion yuan, 3.325 billion yuan and 4.327 billion yuan, respectively, and net income was 3.392 billion yuan, 3.306 billion yuan, and 4.293 billion yuan; net profit; net profit; net profit 864 million yuan, -744 billion yuan and 1.306 billion yuan, shareholders' net profit was 829 million yuan, -745 million yuan, and 1.314 billion yuan, respectively. The loss in 2020 mainly comes from 1.83 billion yuan of non -cash reconciliation expenses brought by the Chengxing incident.

Let's take a look at the latest financial report data from US stocks. The first quarter of the 2022 financial report announced by Noah's wealth showed that the revenue in the first quarter of 2022 was 796 million yuan, a decrease of 35.0%from the 1.225 billion yuan in the same period in 2021; The net profit of ordinary shareholders was 305 million yuan, a decrease of 32.8%from 454 million yuan in the same period in 2021. Obviously, Noah's performance has declined significantly. In fact, it can be seen from the first ranking to the eighth. Once there is no performance -driven, investors will naturally not pay.

Here is the analysis of Guojin Securities "Noah's revenue increased from 3.41 billion yuan in 2019 to 4.33 billion yuan in 2021, and net profit increased from 860 million yuan in 2019 to 1.31 billion yuan in 2021. The valuation of Asia Holdings is reasonable, but it is recommended to purchase cautiously. "The understanding of the agent is reasonable, that is, there is no logic of rising, not to mention that now it is the case of performance landslide.

Second, step on Lei Chengxing, the doubtful clouds are not scattered, Yu Wei still keeps

Chengxing Incident: On the evening of July 8, 2019, the opening of the U.S. -listed company Noah Fortune (NOAH) once plummeted by more than 22 %, as of the close of 20.41 % as of the close to close 35.61 US dollars/share.

After a long baptism, today, three years later, Noah's stock price as the first share of wealth management has never gone out of Cheng Xing's doubt. So far, the voice of Noah is still there.

In fact, this is not the first time Noah has stepped on the thunder, it is just the most painful lesson in Noah.

In November 2016, the Banyan Fund of the hotel private equity fund underwriting by Noah's wealth was exposed by the media.

At the beginning of 2017, Gohp's assets stepped on the debt storm of the well -known Da Lei Huishan Dairy. In 2017, Gosher's assets under Noah's wealth stepped on Leleshi 2.3 billion yuan.

In March 2018, investing in the New Third Board "deeply trapped", triggering the middle level of Noah's wealth with customers.

The lack of risk control capabilities has led to the crisis of trust. The direct consequence of the loss of high net worth customers is the loss of net worth customers. According to the data of Noah's wealth and financial report: The total number of wealth active customers (excluding customers only limited to the common fund) is 2818 55.3%, the customers who depend on survival are constantly losing. It is difficult to increase performance thickening.

Third, occasionally encounters Hong Kong stocks, insufficient liquidity

There are two Hong Kong stock market environment that the agent wants to say. One is that the listing of Noah Holdings coincides with the adjustment of the Hong Kong stock market. It has fallen from the level of June 28 to 1,700 points. In this case, basically, basically, basically, basically It is impossible to rise without hard enough, no hot topics, and hot concepts to rise.

The second is a common problem with the Hong Kong stock market. Under a specific market environment, it has led to insufficient liquidity in Hong Kong stocks. From the break from the breakthrough of Noah Holdings and Tianqi Lithium, the market value of Tianqi Lithium Hong Kong stocks was 13.458 billion, and the turnover was 31.4. 100 million, renewal of 24.58%; Noah Holding Hong Kong stock market value was 307 million, with a turnover of 13.1364 million, and 4.27%of the renewal. There was no funding to accept it. It also reflected from the side that it was not recognized by capital.

Today, Noah is comprehensively transformed. The risk control capability is the first level that needs to be through. China is in the golden period of wealth management. How to break the situation in the predicament and tell our own story, let's wait and see.

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