Sustainable performance growth rate, quality development "heart" sets sail
Stable growth in revenue and profit, sustained growth in performance and quality
In recent years, with the steady development of the Chinese economy, the wealth of residents has increased, and the domestic wealth management market has continued to grow. The expansion of the wealth management market has also brought about diversification of customer demand. Personalized service capabilities and global asset allocation capabilities are becoming breakthrough points for the development of future wealth management institutions. Meanwhile, concerns about international geopolitical conflicts and global economic recession have become the primary concerns of high net worth clients in the Asian region. In the short term, macro uncertainty will become the core factor for investors to adjust their strategic asset allocation. But the innovation and breakthroughs in artificial intelligence technology driven by ChatGPT have also made professional investors in the global market full of expectations for the potential new technological cycle and growth opportunities it may bring.
In the first half of 2023, the company recorded an overall net income of 1.75 billion yuan, a year-on-year increase of 13.8%. Single quarter data shows that the company's net income in the second quarter increased by 27.6% year-on-year and 17.2% month on month. Looking at the income sector, the net income of wealth management increased by 46.5% year-on-year and 27.0% month on month; By revenue type, the revenue from fundraising fees increased by 95.2% year-on-year and 129.6% month on month. Thanks to Noah International's forward-looking layout and continuous investment in channels, products, and comprehensive services, overseas business contributed 710 million yuan in the first half of 2023, a year-on-year increase of 104.1%, and its proportion in total revenue increased from 22.6% last year to 40.8%. Single quarter data shows that the net income of the overseas sector increased by 146.8% year-on-year and 22.5% month on month.
Steady growth of core customers and continuous development of private banking interfaces
Data shows that in the second quarter of 2023, the number of registered customers of Noah increased by 6.7% year-on-year, while core individual customers increased by 13.1% year-on-year. Among them, black card and ultra black customers increased by 21.8% year-on-year, and diamond customers increased by 10.8% year-on-year. In terms of corporate clients, the Smiling Treasurer platform launched in 2022 has successfully attracted nearly 6000 small and medium-sized enterprises and financial institutions to open accounts and place orders. During the first half of the year, the number of active Treasurer clients increased by 73.7% year-on-year. The number of Noah International clients increased by 13.2% year-on-year in the second quarter.
The core customers who continue to grow steadily benefit from Noah's unwavering commitment to the customer interface. Noah officially launched its new headquarters, the Noah Wealth Center, on May 18th this year. On June 18th, Noah collaborated with artist Wang Xiaohui to create a one-year "Ten Thousand Trusts" large-scale portrait art exhibition at the new headquarters. With the unique charm of artistic expression, Noah is grateful for the trust that customers have given Noah since its establishment and will keep this trust forever, realizing the beautiful vision of generations together. On July 13th, on the occasion of the 11th anniversary of Noah's deep cultivation in Hong Kong and the 1st anniversary of its listing on the Hong Kong stock market, the Noah Philharmonic Orchestra presented a special symphonic melody to customers, investors, and partners in Oriental Pearl Hong Kong. In the customer-centric customer interface investment, music and art always
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