Noah (NYSE:NOAH) reported modest revenue growth but sharply higher operating profit for the first quarter of 2026, as management said the wealth management firm continued shifting toward investment-led products, overseas expansion and AI-enabled operations.
Co-founder, Director and CEO Zhe Yin said the company’s transformation had become “clearer than ever before,” citing improved profitability, renewed momentum in the domestic business and continued adjustment of the overseas revenue mix. Noah recorded net revenues of RMB 626 million, up 1.8% year-over-year and down 14.7% from the prior quarter. The sequential decline was mainly attributed to lower insurance business contribution and a seasonal drop in performance fee income from overseas private equity products after year-end recognitions.
