NOAH Holdings

NOAH Holdings 连接全球华人的财富世界｜懂金融，更懂华人。Insights, perspectives and updates for global Chinese investors. USD 153B+ allocated | 23+ years | Listed on NYSE and HKEX Wealth expertise.

诺亚｜连接全球华人的财富世界

依托中国上海、中国香港、新加坡与美国四大账户与交易中心，诺亚控股（NYSE: NOAH，HKEX: 6686）构建了全球化的服务能力，累计配置规模超过 USD 153B+。

懂金融，更懂华人。

NOAH | Where Global Chinese Wealth Connects. Noah Holdings Limited (NYSE: NOAH, HKEX: 6686) is a leading global wealth management platform dedicated to serving global Chinese investors. With over 23 years of experience, Noah provides comprehensive, cross-border wealth management, ass

et allocation, and advisory services. Our global network spans Shanghai, Hong Kong, Singapore, and the United States, supporting clients in navigating increasingly complex financial landscapes. As a dual-listed company in Hong Kong and the U.S., Noah has advised on over USD 153 billion in assets. Deeper global Chinese insight.

阿嬷不识字，却把每一封信背了下来。那些字，是她等待过的生活。《给阿嬷的情书》背后，是一代华人漂洋过海的真实处境——勤劳是底色，互助才是通道。那张托住他们的网，今天换了形态，但从未消失。诺亚「海图」，陪那些仍在路上的人，彼此照见。用一世，成就...
25/06/2026

阿嬷不识字，却把每一封信背了下来。那些字，是她等待过的生活。

《给阿嬷的情书》背后，是一代华人漂洋过海的真实处境——勤劳是底色，互助才是通道。那张托住他们的网，今天换了形态，但从未消失。

诺亚「海图」，陪那些仍在路上的人，彼此照见。用一世，成就传世。

阅读全文 Full Article：noahmkt.com/5n3M

Grandma couldn't read. But she memorized every letter.

Those words were the shape of a life she spent years waiting for.

Behind Dear You is a story that runs through the entire history of Chinese migration — hard work was the foundation, but mutual support was the path. The network that held people up looks different today. It never disappeared.

Haitu by Noah — for those still on the journey, finding themselves in each other. One lifetime. A legacy that lasts.

很多华人企业家，都有一张清单。不是工作清单。是那些「重要但不紧急」的事——一直在上面，一直没有动。梳理家族资产结构。认真想传承怎么安排。跟孩子谈一次真正的家族财富对话。把当年做的保险信托拿出来确认还适用。每一件事都不难。但就是一直没做。因为...
24/06/2026

很多华人企业家，都有一张清单。

不是工作清单。是那些「重要但不紧急」的事——一直在上面，一直没有动。

梳理家族资产结构。认真想传承怎么安排。跟孩子谈一次真正的家族财富对话。把当年做的保险信托拿出来确认还适用。

每一件事都不难。但就是一直没做。

因为生意、团队、客户、行程——「等忙完这一阵」，是这张清单上每件事的共同命运。

直到某一天，一个朋友的变故，或者自己身体的一个信号，让这张清单突然变得很重。

那一刻之后开始行动的华人企业家，说的都是同一句话：
「早一点做就好了。」

懂金融，更懂华人。财富之上，更见人生智慧。

Most Chinese entrepreneurs have a list.

Not work. The other kind — important but never urgent. Never touched.

Review the family asset structure. Think through succession properly. Have a real conversation with the children about family wealth. Check whether those old insurance and trust arrangements still make sense.
None of it is hard. And yet.

Business, team, clients, schedule — "once things quiet down" is the shared fate of everything on that list.
Until one day — a friend's sudden change, or a signal from your own body — and the list suddenly feels very heavy.

The ones who start moving after that moment all say the same thing:

"I wish I'd started earlier."

Wealth expertise. Deeper global Chinese insight.
Wisdom Beyond Wealth. Noah Holdings (NYSE: NOAH | HKEX: 6686) | Where Global Chinese Wealth Connects

1945年，盟军一纸令下，三井商业网络在法律意义上被解散。但那套网络从未真正消失——它用另一种方式重建，并在此后数十年里持续运转。三井住友DS资产管理（SMDAM）正是从这张网络里生长出来的。逾五十年、1700亿美元AUM、78%主动管理—...
24/06/2026

1945年，盟军一纸令下，三井商业网络在法律意义上被解散。但那套网络从未真正消失——它用另一种方式重建，并在此后数十年里持续运转。

三井住友DS资产管理（SMDAM）正是从这张网络里生长出来的。逾五十年、1700亿美元AUM、78%主动管理——它在日本市场的位置，不是靠规模堆出来的，而是靠一种很难被复制的本地积累。

当全球顶级资本开始重新将目光转向日本，一个问题值得认真追问：长期在场者积累的东西，正在被重新定价吗？

点击查看全文 Full article：noahmkt.com/5mEX

In 1945, one of Japan's oldest commercial networks was legally dissolved overnight. It had operated for nearly three hundred years. What happened next is less well known — and more instructive.

Sumitomo Mitsui DS Asset Management — SMDAM — grew out of that network. Over fifty years in Japan, US$170 billion in AUM, 78% actively managed. Its position in Japan's market wasn't built on capital alone. It was built on something harder to replicate.

Now, as global institutional attention turns back to Japan, the question worth asking isn't whether the market has changed. It's whether fifty years of local knowledge is finally being priced.

九平方米，无人值守，每天服务数千顾客——这不是概念演示，是今天已经在中国20多个城市运行的便利店。里面只有一个员工，是机器人。但这件事真正值得关注的，不是「机器人在工作」，而是它为什么能工作：它不是在执行程序，它在理解任务。这一个字的差距，...
23/06/2026

九平方米，无人值守，每天服务数千顾客——这不是概念演示，是今天已经在中国20多个城市运行的便利店。

里面只有一个员工，是机器人。

但这件事真正值得关注的，不是「机器人在工作」，而是它为什么能工作：它不是在执行程序，它在理解任务。这一个字的差距，是过去几十年机器人技术从未真正跨过的门槛。

诺亚产业观察·具身智能系列第一篇，我们从这个问题开始讲起。

点击查看全文 Full Article：noahmkt.com/5mmS

A 9-square-meter store. No staff. Thousands of customers served daily. And it's not a concept — it's already running across 20-plus cities in China.

The single "employee" is a robot. But that's not the interesting part.

What's interesting is why it works: it isn't following a program. It's understanding a task. That one-word difference is the threshold robotics has failed to cross for decades — until now.

Noah Deep Dive: Embodied AI, Issue 01. We start with that question.

连美联储自己都不知道下一步怎么走——上周，新任主席沃什用一份130个字的声明和一张抽掉了自己点位的点阵图，把照了市场十几年的那盏「前瞻指引」探照灯正式调暗了。点阵图翻向加息、前瞻指引几乎全部收回、声明字数砍掉六成——这不只是风格转变，是整个...
22/06/2026

连美联储自己都不知道下一步怎么走——上周，新任主席沃什用一份130个字的声明和一张抽掉了自己点位的点阵图，把照了市场十几年的那盏「前瞻指引」探照灯正式调暗了。

点阵图翻向加息、前瞻指引几乎全部收回、声明字数砍掉六成——这不只是风格转变，是整个定价逻辑的重写。当路标消失，财富的确定性从哪里来？

本期「回应客户关切」，诺亚CIO办公室完整复盘上周五天剧情，逐一回应客户问得最多的三个问题，并把「全球结构」这一层讲透：为什么恰恰是在央行不再给答案的时代，确定性更要靠自己建。

点击查看全文 Full article: noahmkt.com/5mwe

The Fed just told markets something it almost never admits: it doesn't know what comes next either.

Last week, Chair Warsh held rates — then removed his own dot, cut the post-meeting statement to 130 words, and quietly turned off the forward guidance that investors have relied on for over a decade. The dot plot shifted toward hikes. The communication playbook was scrapped. Markets fell, bounced, and ended the week higher — but the logic underneath had completely changed.

When the signposts disappear, where does certainty in your wealth come from? This week's CIO Office Insights breaks down the full five-day story, answers the three questions clients are actually asking, and makes the case for why — right now — certainty has to be built into your own structure.

有一件事，很多华人企业家一直想做，但一直没有做。跟孩子谈钱的问题。不是给多少、怎么分。而是：这些财富从哪里来，对家族意味着什么，将来想用它做什么。这个对话，在华人家庭里很少发生。谈钱有一种文化上的不舒服——像是在分配，像是在交代后事。但孩子...
22/06/2026

有一件事，很多华人企业家一直想做，但一直没有做。

跟孩子谈钱的问题。

不是给多少、怎么分。而是：这些财富从哪里来，对家族意味着什么，将来想用它做什么。

这个对话，在华人家庭里很少发生。谈钱有一种文化上的不舒服——像是在分配，像是在交代后事。

但孩子在海外长大了。他们对钱和家族的理解，和父母这一代完全不同。

如果这个对话一直没有发生，有一天需要做传承安排，才会发现：法律结构可以设计，家族共识没有办法临时建立。

传承做得好的家族，往往不是架构最复杂的，而是这个对话开始得最早的。

懂金融，更懂华人。财富之上，更见人生智慧。

There's something many Chinese entrepreneurs have been meaning to do for years. And keep not doing.

Having the conversation about money with their children.

Not amounts or distributions. But where this wealth came from, what it means to the family, what they want to do with it.

This conversation rarely happens. Talking about money carries cultural discomfort — it feels like dividing things up, like preparing for something not yet ready to be said.
But the children grew up overseas. Their relationship with money and family is genuinely different.

If this conversation keeps not happening, the day succession planning begins brings a discovery: legal structures can be designed. Family alignment can't be built on the spot.

The families who handle succession well aren't the ones with the most sophisticated structures. They're the ones who started the conversation earliest.

Wealth expertise. Deeper global Chinese insight. Wisdom Beyond Wealth. Noah Holdings (NYSE: NOAH | HKEX: 6686) | Where Global Chinese Wealth Connects

21/06/2026

山行不止，远见为锚。致每一位以远见，为家族铺路的父亲。

Some paths are walked so others don't have to find their own way. To every father who leads with vision — for his family, across generations.

Happy Father's Day.

市场都在问美联储什么时候降息。但这可能是个问错了的问题。高利率不是障碍，是筛选机制。真正的问题是：哪些AI基建资产的现金流经得起资金成本的压力测试，哪些只是贴了标签？诺亚控股CIO洞见·月度深论Vol.02🔗阅读全文 See more：ht...
19/06/2026

市场都在问美联储什么时候降息。但这可能是个问错了的问题。

高利率不是障碍，是筛选机制。真正的问题是：哪些AI基建资产的现金流经得起资金成本的压力测试，哪些只是贴了标签？

诺亚控股CIO洞见·月度深论Vol.02

🔗阅读全文 See more：http://noahmkt.com/5m61

Everyone is asking when the Fed will cut. That may be the wrong question.

High rates aren’t an obstacle — they’re a filter. The real question: which AI infrastructure assets can actually pass the cash flow test, and which are just wearing the label?

#资产配置 #财富管理 #全球华人 #诺亚控股

风浪自渡，心定如舟。端午，不只是粽子和龙舟，更是一种千年传承的处世哲学——要勇于不敢，处变不惊。在风浪中，做一艘真正的方舟。端午安康。懂金融，更懂华人。Steady through storms. A heart as calm as th...
18/06/2026

风浪自渡，心定如舟。

端午，不只是粽子和龙舟，更是一种千年传承的处世哲学——要勇于不敢，处变不惊。

在风浪中，做一艘真正的方舟。端午安康。懂金融，更懂华人。

Steady through storms. A heart as calm as the boat.

Happy Dragon Boat Festival — from Noah, your ark in any market.

Wealth expertise. Deeper global Chinese insight.

在全球拓展业务，有一种孤独感，很少有人说出口。不是生活上的孤独。是决策上的孤独。在国内，身边有圈子，大事有人商量。到了海外，圈子要重新建，信任要重新积累。很多重要的决定，最后还是一个人扛着做。财富上的决定尤其如此。要不要设立家族办公室？孩子...
17/06/2026

在全球拓展业务，有一种孤独感，很少有人说出口。

不是生活上的孤独。是决策上的孤独。

在国内，身边有圈子，大事有人商量。到了海外，圈子要重新建，信任要重新积累。很多重要的决定，最后还是一个人扛着做。

财富上的决定尤其如此。要不要设立家族办公室？孩子的钱放哪里？公司架构要不要调整？

顾问给的是专业意见，不是真正理解您怎么走到今天的那种判断。

做了决定，事后才知道有更好的选择。这种遗憾，比任何一次市场波动都难受。

懂金融，更懂华人。

Building a business globally comes with a particular kind of loneliness. Rarely spoken about.

Not social loneliness. Decisional loneliness.

Back home, there was a network. Big decisions had sounding boards. Overseas, that has to be rebuilt from scratch. Many important calls end up being made alone.

Financial decisions especially. Family office? Children’s education funds? Corporate structure?

Advisors give professional opinion. Not the judgment that comes from truly understanding how you got here.

A decision made, and only afterwards the realisation a better path existed.

That regret sits differently than any market loss.

Wealth expertise. Deeper global Chinese insight.
Noah Holdings (NYSE: NOAH | HKEX: 6686) | Where Global Chinese Wealth Connects

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香港銅鑼灣勿地臣街一號 時代廣場第二座34 樓
Hong Kong

Telephone

+85237001997

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