No, my earlier comment is directed at how incredulously its share price has sold off in the past years, -78% to be exact in the past 5 years. Yours was a v good read; first time I got to learn of the company as well, so thanks. Unless this company is a fraud — mkt seemingly suggesting it is but nothing in your article suggests that it is — then surely the stock is a strong buy at current.
Yes, I agree! But NOAH's decline closely tracks the decline in Chinese tech stocks - note that many data providers are not adjusting NOAH's price history for its dividend payments. NOAH is now trading at a deep value level based on cash and dividends, but would still have significant upside potential from higher earnings and higher multiple in a Chinese market recovery.
Interesting. I've followed this name on and off for over a decade but didn't see how cheap it has gotten recently. Not surprised though given how weak Chinese listed US names are. The dividend and buyback make me optimistic though. Took a small position in SOHU for the first time in years at $12. Buybacks should support the price and the same here for NOAH. Thanks for the write up!
Am just wondering if the dividends received from the ADS listed will be subject to withholding taxes for the case of US non-residents ? The annual report says they are domiciled in Cayman Islands which has no dividend tax but then it is listed on US exchange which typically charges 30% withholding taxes on non-residents.
The article mentioned several times that the ADS would trade ex-dividend by $2.12. Adjusted for the dividend, the price is -3%. I wish it were better! I have nothing to add to substantive comments about fraud in the article. Do you?
Thanks for the write-up. What are your thoughts on the lawsuit they won against Camsing? If the ruling stands, they might recover 3.4 billion RMB, which is almost equivalent to their market cap.
Thanks. If Camsing had the money then there would never have been a problem so I'm not counting on a recovery.
I believe the money is owed to funds managed by Noah (through its Gopher subsidiary) so I am not sure what portion, if any, of a recovery would be received by Noah itself.
The article used analyst consensus forecast for 2024 earnings as of 6/29 (after 1Q24 was released). The article also summarized management comments about lower than expected Q24 earnings. Analyst average has dipped a bit to $1.62. I have nothing to add to prior commentary.
Any thoughts on buying US listing vs. Hong Kong?
US listing has much higher liquidity. HK turnover is often less than 1000 shares.
No, my earlier comment is directed at how incredulously its share price has sold off in the past years, -78% to be exact in the past 5 years. Yours was a v good read; first time I got to learn of the company as well, so thanks. Unless this company is a fraud — mkt seemingly suggesting it is but nothing in your article suggests that it is — then surely the stock is a strong buy at current.
Yes, I agree! But NOAH's decline closely tracks the decline in Chinese tech stocks - note that many data providers are not adjusting NOAH's price history for its dividend payments. NOAH is now trading at a deep value level based on cash and dividends, but would still have significant upside potential from higher earnings and higher multiple in a Chinese market recovery.
Interesting. I've followed this name on and off for over a decade but didn't see how cheap it has gotten recently. Not surprised though given how weak Chinese listed US names are. The dividend and buyback make me optimistic though. Took a small position in SOHU for the first time in years at $12. Buybacks should support the price and the same here for NOAH. Thanks for the write up!
Am just wondering if the dividends received from the ADS listed will be subject to withholding taxes for the case of US non-residents ? The annual report says they are domiciled in Cayman Islands which has no dividend tax but then it is listed on US exchange which typically charges 30% withholding taxes on non-residents.
Its share price sell off is relentless, seemingly suggesting the company’s a fraud? 😱😬🧐🤷♂️ haiz
The article mentioned several times that the ADS would trade ex-dividend by $2.12. Adjusted for the dividend, the price is -3%. I wish it were better! I have nothing to add to substantive comments about fraud in the article. Do you?
Thanks for the write-up. What are your thoughts on the lawsuit they won against Camsing? If the ruling stands, they might recover 3.4 billion RMB, which is almost equivalent to their market cap.
Thanks. If Camsing had the money then there would never have been a problem so I'm not counting on a recovery.
I believe the money is owed to funds managed by Noah (through its Gopher subsidiary) so I am not sure what portion, if any, of a recovery would be received by Noah itself.
Yes, I thought the same. The way they talked about it gave me the impression that they might not recover much, if anything at all.
The article used analyst consensus forecast for 2024 earnings as of 6/29 (after 1Q24 was released). The article also summarized management comments about lower than expected Q24 earnings. Analyst average has dipped a bit to $1.62. I have nothing to add to prior commentary.