Latest news with #RMB
Yahoo
14 hours ago
- Business
- Yahoo
PDD Holdings Inc. (PDD): A Bull Case Theory
We came across a bullish thesis on PDD Holdings Inc. (PDD) on LongYield's Substack. In this article, we will summarize the bulls' thesis on PDD. PDD Holdings Inc. (PDD)'s share was trading at $97.88 as of 28th May. PDD's trailing and forward P/E were 10.53 and 7.76 respectively according to Yahoo Finance. Pixabay/Public domain PDD Holdings Inc., the parent company of Pinduoduo and Temu, delivered strong top-line growth in Q1 2025, with revenue rising 10% year-over-year to RMB 95.7 billion (US$13.184 billion), driven by robust performance in online marketing and transaction services. While near-term profitability declined—operating profit fell 38% and net income dropped 47%—these figures reflect PDD's deliberate and strategic reinvestment into its ecosystem. The company significantly ramped up spending in sales and marketing (+43%) and R&D (+23%) to strengthen its merchant base, upgrade supply chains, and support long-term competitiveness. This aggressive reinvestment positions PDD for sustained value creation, especially as consumer behavior increasingly favors affordable, high-quality offerings—PDD's core strength. With a powerful balance sheet, including RMB 364.5 billion (US$50.3 billion) in cash and short-term investments and no significant debt, the company is well-capitalized to weather macro uncertainties and accelerate its global expansion through Temu. The international platform continues to gain traction and, with careful navigation of geopolitical risks, could become a major growth engine. PDD's unique value-for-money positioning, group-buying model, and focus on underserved SMEs differentiate it from peers like Alibaba and Strategic initiatives such as a RMB 100 billion merchant support program, supply chain investments, and consumer incentives reinforce its ecosystem advantage. Though short-term margins are compressed, the long-term outlook remains compelling. With unmatched financial flexibility, rising global brand awareness, and a focus on sustainable growth, PDD is well-positioned to emerge as a dominant global e-commerce player over the next decade. Previously, we have covered PDD Holdings Inc. (PDD) in February 2025, wherein we summarized a bullish thesis by Favona Hathaway on Substack. The company was highlighted for its rapid growth, strong financials, and dominant position in value-for-money e-commerce through its C2M model and global expansion via Temu. The article noted PDD's impressive revenue and profit CAGR since 2021, minimal debt, and potential for a 144% market cap upside by 2029, despite geopolitical and macroeconomic risks. Since our last coverage, the stock is down 21% as of 28th May. PDD Holdings Inc. (PDD) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 87 hedge fund portfolios held PDD at the end of the first quarter which was 85 in the previous quarter. While we acknowledge the risk and potential of PDD as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than PDD but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None. This article was originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Korea Herald
a day ago
- Business
- Korea Herald
Noah's Q1 2025 Earnings Show YoY and Sequential Growth in Profitability and Operating Margin Expansion
SHANGHAI, May 30, 2025 /PRNewswire/ -- Noah Holdings Limited ("Noah" or the "Company") (NYSE: NOAH and HKEX: 6686), a leading and pioneer wealth management service provider offering comprehensive one-stop advisory services on global investment and asset allocation primarily for global Chinese high-net-worth investors ("HNWIs"), reported unaudited financial results for the first quarter of 2025, highlighting a robust recovery in profitability as its CAPEX-light domestic restructuring and overseas expansion gain momentum. Non-GAAP net income rebounded 27.4% sequentially to RMB 168.8 million (US$23.3 million), while income from operations jumped 35.2% to RMB 186.0 million (US$25.6 million), driving operating margin to 30.3%. Noah continued to face broader headwinds driven by a volatile global macroeconomic environment and a low-interest rate environment in mainland China, impacting Chinese HNWI sentiment and topline growth. Despite these challenges, Noah continued to make significant progress in building out its sales teams and global infrastructure. Its CAPEX-light strategy ensures its business remains profitable and continues to generate solid cash flow during this restructuring. Zander Yin, Co-Founder, Director, and CEO of Noah, commented, "We are proud to deliver a strong rebound in profitability and operating margin this quarter, reflecting the success of our operational efficiency initiatives, CAPEX-light strategy, and accelerating overseas expansion. This clearly underscores the resilience of our business model during our ongoing restructuring and sets the stage for sustainable growth going forward. This restructuring still requires upfront investments and will take time to scale. While we are not yet at the finish line, these cost-effective foundational changes are clearly beginning to have an impact on our financials which leave us confident we are headed in the right direction." Financial Highlights Total net revenues for the quarter were RMB 614.6 million (US$84.7 million), down 5.7% from last quarter and down 5.4% year-over-year, primarily due to a decrease in distribution of insurance products and RMB-denominated private equity recurring service fees. However, net revenues from overseas continued to grow sequentially, expanding 5.0% to RMB 304.2 million (US$41.9 million) and now accounting for nearly 50% of total net revenues – showcasing the progress it continues to make in expanding overseas. Rigorous cost controls reduced operating costs and expenses by 16.7% sequentially and 18.8% year-over-year to RMB428.6 million (US$59.1 million), led by a 21.8% year-over-year cut in compensation and benefits and an 18.1% decline in selling expenses. Overseas Expansion Making Progress Noah's overseas expansion continued to gain momentum. Revenue from overseas investment products grew 20.3% year-over-year, offsetting a 22.8% decline in overseas insurance sales. USD-denominated assets under management climbed 14.2% year-over-year to US$5.9 billion, and USD-denominated assets under advisory rose 8.7% to US$9.1 billion. Noah's team of overseas relationship managers is driving this growth. The team expanded 44% year-over-year to 131, with its newly formed overseas commission-only insurance agent team also growing to 75 and already contributing approximately RMB 10 million in revenue during the quarter. The Company opened a new office in Japan and continues to explore opportunities in the US, Southeast Asia and Canada with large and underserved communities of Chinese HNWIs. Domestic Restructuring Domestic net revenues in the quarter were RMB 310.4 million, down 14.3% from last quarter and 9.4% from the same period last year, reflecting weaker insurance distribution under a low-interest environment and lower recurring service fees from private equity products. However, transaction value for RMB-denominated private secondary products surged 257.7% year-over-year to RMB 3.3 billion, up 34.6% sequentially, with associated revenue contribution rising 9.4% year-over-year. Noah's branch network has been consolidated to 10 cities in mainland China and has begun deploying online marketing and online services which will further reduce fixed costs and improve operational efficiency going forward. Driving Shareholder Returns Noah continues to prioritize shareholder interests and deliver sustained returns through its US$50 million share buyback program with the repurchase of more than 1.3 million ADSs to date. Subject to approval at its upcoming annual general meeting in June 2025, the Company plans to distribute RMB 550 million in annual and special dividends in July 2025—equal to 100% of 2024's non-GAAP net income attributable to Noah shareholders—delivering a 11% dividend yield at current prices and marking the second consecutive year of a full payout. As of March 31, 2025, cash and cash equivalents stood at RMB 4.1 billion, supplemented by RMB 1.3 billion in highly liquid short-term investments. The balance sheet remains robust, with US$11.4 per ADS in cash reserves, an improved current ratio of 4.8x, no interest-bearing debt, a price-to-book multiple of 0.5x and a price-to-earnings multiple of 11x, well below the industry average. Strategic Priorities and Outlook for 2025 Noah's priority in 2025 will be to build upon the solid progress it has made by carefully balancing the quality and quantity of growth overseas while ensuring full compliance with local regulations. Through its CAPEX-light strategy, the Company will drive its overseas expansion and build its local teams in the US, Japan, Southeast Asia and Canada. Investments in AI and technology will enhance online service capabilities, and the commission-only insurance agent network will scale to support overseas growth. It will also diversify its product suite with trusts, emigration advisory services and cross-border solutions to meet evolving client needs in volatile markets. Supported by streamlined operations, a fortified balance sheet and deepening overseas foothold, Noah is well positioned for sustainable, profitable growth throughout 2025 and beyond. About Noah Holdings Limited Noah Holdings Limited (NYSE: NOAH and HKEX: 6686) is a leading and pioneer wealth management service provider offering comprehensive one-stop advisory services on global investment and asset allocation primarily for global Chinese high-net-worth investors. Noah's American depositary shares, or ADSs, are listed on the New York Stock Exchange under the stock ticker "NOAH", and its shares are listed on the main board of the Hong Kong Stock Exchange under the stock code "6686." One ADS represents five ordinary shares, par value $0.00005 per share. In the first quarter of 2025, Noah distributed RMB 16.1 billion (US$2.2 billion) of investment products. Through Gopher Asset Management and Olive Asset Management, Noah had assets under management of RMB149.3 billion (US$20.6 billion) as of March 31, 2025. Noah's domestic and overseas wealth management business primarily distributes private equity, public securities and insurance products denominated in RMB and other currencies. Noah's network covers major cities in mainland China, as well as Hong Kong (China), New York, Silicon Valley, Singapore, Los Angeles and Japan. The Company's wealth management business had 463,161 registered clients as of March 31, 2025. Through its domestic and overseas asset management business operated by Gopher Asset Management and Olive Asset Management, Noah manages private equity, public securities, real estate, multi-strategy and other investments denominated in RMB and other currencies. The Company also provides other businesses. For more information, please visit Noah at Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Noah may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in announcements, circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange"), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Noah's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. These statements include, but are not limited to, estimates regarding the sufficiency of Noah's cash and cash equivalents and liquidity risk. A number of factors could cause Noah's actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: its goals and strategies; its future business development, financial condition and results of operations; the expected growth of the wealth management and asset management market in China and internationally; its expectations regarding demand for and market acceptance of the products it distributes; investment risks associated with investment products distributed to Noah's investors, including the risk of default by counterparties or loss of value due to market or business conditions or misconduct by counterparties; its expectations regarding keeping and strengthening its relationships with key clients; relevant government policies and regulations relating to its industries; its ability to attract and retain qualified employees; its ability to stay abreast of market trends and technological advances; its plans to invest in research and development to enhance its product choices and service offerings; competition in its industries in China and internationally; general economic and business conditions in China; and its ability to effectively protect its intellectual property rights and not to infringe on the intellectual property rights of others. Further information regarding these and other risks is included in Noah's filings with the U.S. Securities and Exchange Commission and the Hong Kong Stock Exchange. All information provided in this press release and in the attachments is as of the date of this press release, and Noah does not undertake any obligation to update any such information, including forward-looking statements, as a result of new information, future events or otherwise, except as required under the applicable law.
Associated Press
a day ago
- Business
- Associated Press
DEEP Robotics Empowers Intelligent Upgrades Across Industrial Scenarios
According to industry reports, global quadruped robot sales are projected to surpass 560,000 units by 2030, with the market size expected to exceed 1.28 billion US dollarsRMB. Addressing the industry challenge of insufficient penetration of industrial robots in unstructured environments, DEEP Robotics recently launched the medium-sized wheel-legged hybrid robot LYNX M20. Combining both wheeled and legged mobility capabilities, it is designed for demanding operational scenarios, driving intelligent upgrades across various applications including industrial inspection and emergency rescue operations. Currently, manual inspection in substations faces multiple challenges including low efficiency, inconsistent standards, and poor adaptability to harsh environments, with subjective experience compromising assessment objectivity. Handheld devices used in power distribution stations suffer from inadequate real-time performance, insufficient accuracy, and operational complexity. Meanwhile, manual inspections of transmission lines and tunnels present dual risks of compromised precision and safety hazards. The existing operation and maintenance system urgently requires intelligent technological solutions to address these critical shortcomings in efficiency, accuracy, and safety dimensions. Omni-terrain Operational Expertise: Powering Intelligent Transformation in the Energy Sector To address these issues, the application of intelligent unmanned inspection technology in substations has gradually gained widespread attention, as it can effectively improve substation operation and maintenance efficiency, reduce labor costs, and ensure the safe and stable operation of power systems. The LYNX M20 is a new wheel-legged hybrid robot capable of autonomous intelligent inspection, combining the all-terrain obstacle-crossing capability of traditional legged robots with the rapid mobility of wheeled systems, featuring an effective payload of 15kg and a maximum payload of 50kg to meet the requirements for carrying various detection equipment during power inspections. Under effective payload conditions, the LYNX M20 achieves 2.5 hours of runtime with a maximum sustained operating speed of 2 m/s and a maximum range of 15 km. Additionally, the LYNX M20's unique 'front-elbow-rear-knee' symmetrical joint structure （which is directionally agnostic, allowing forward and reverse movement and turning without body rotation）and night fill lights enable it to freely navigate 50cm narrow passages without difficulty in confined spaces like substation equipment rooms and utility tunnels under low-light conditions. Simultaneously, it possesses autonomous charging, environmental perception, and fault diagnosis functions, enabling comprehensive, high-frequency substation inspections. LYNX M20 can be equipped with a variety of advanced sensors, which can monitor the operation status of substation in real time and find potential problems in time. The dual-spectrum pan/tilt it can carry combines visible light imaging and infrared thermal imaging technology. Through visual identification, it can not only visually present the physical damage of the equipment, but also detect the internal heat abnormality of the equipment with the help of infrared radiation imaging differences, such as local overheating of the transformer winding or poor contact of the cable connector, so as to help the operation and maintenance personnel quickly locate the fault and judge the cause. In addition, the robot dog can be equipped with voiceprint and gas sensor, which can identify subtle defects such as abnormal sound and partial discharge of cooler, and monitor the concentration of harmful gas in the air in real time to ensure production safety. At the same time, LYNX M20 equipped with inspection system can analyze the images and data information monitored by sensors, and automatically generate inspection reports to further improve inspection efficiency. IP66 Industrial-Grade Rugged Protection Ensures All-Weather Operation IP66 (International Protection rating) indicates the product is completely protected against foreign object intrusion and dust ingress, and when subjected to powerful water jets or heavy seas, the amount of water entering the equipment shall not reach harmful levels. The industrial-grade IP66 protection emphasizes reliability under dynamic operating conditions, with its technical certification comprising two dimensions: the first digit represents dustproof level, requiring high-density dust protection with zero penetration after 8-hour dust chamber testing; the second digit represents waterproof level, demanding dynamic water resistance capable of withstanding 12.5L/min high-pressure spraying (equivalent to continuous impact from three fire hoses). In real industrial inspection processes, there exist harsh environments with high temperatures, sand, and dust that impose extremely stringent protection requirements on robots. The LYNX M20 possesses an IP66 protection rating, demonstrating exceptional waterproof, dustproof, and impact-resistant capabilities. In adverse conditions such as rainy or dusty weather, it can still operate normally without equipment damage or failure caused by environmental factors. Its operating temperature range extends from -20°C to 55°C, enabling the LYNX M20 to work stably in extreme temperature environments and significantly expanding its applicable regions and seasonal limitations. Whether in substations in cold regions or during inspections of power facilities in hot zones, the LYNX M20 can reliably perform its tasks. Autonomous Navigation Patrol with Intelligent Algorithm Recognition SLAM (Simultaneous Localization and Mapping) is the core technology for robotic autonomous navigation. Simply put, it enables robots to achieve 'trinity' capabilities in unknown environments like humans: 1. Where am I? (Localization) - Using sensors like LiDAR and cameras to perceive the surrounding environment in real-time while simultaneously calculating its own position. 2. What does the surroundings look like? (Mapping) - Continuously creating high-precision (2D/3D) maps of the environment while moving, marking key information such as obstacles and terrain features. 3. How to get there safely? (Navigation) - Planning optimal paths based on map and localization data, with real-time obstacle avoidance and posture adjustment. LYNX M20 collects and processes environmental data hundreds of thousands of times per second, just like 'digital consciousness' with spatial cognition. Even in complex scenes such as tunnels and ruins, it can calculate its posture in real time and reconstruct a three-dimensional environmental model with centimeter-level accuracy. For unstructured terrain such as mountains and steep slopes, this robot, as an industrial robot, has a 96-line laser radar and a large visual field of 360°×90°, which can intelligently perceive the terrain and adjust its motion posture independently according to the terrain with AI motion control algorithm. It can also achieve omni-directional obstacle avoidance independently, easily cope with extreme environments such as rough mountain roads, muddy wetlands and ruins obstacles, and truly become an intelligent mobile platform specially built for complex terrain and dangerous environments. Pioneer in Legged Robotics Industrial Applications As the world's first wheel-legged hybrid robot specifically designed for complex terrains and hazardous environments in industrial applications, the newly launched LYNX M20 breaks operational boundaries with its omnidirectional capabilities, establishing itself as a supremely capable intelligent mobile platform for industries. Currently, the LYNX M20 is penetrating more application scenarios to deliver scalable intelligent solutions. For instance, in emergency firefighting, it overcomes environmental constraints like thick smoke, high temperatures, and oxygen deficiency to enter disaster zones, providing rapid situational feedback for precision rescue decision-making. In logistics delivery, it achieves last-meter precision by flexibly navigating narrow pathways and staircases in residential areas, solving the 'last-mile' delivery challenge. For urban management, it integrates multi-scenario applications including police security, environmental monitoring, and engineering surveying to enhance city management efficiency and comprehensively safeguard urban operational safety. With the grand global launch of the LYNX M20, DEEP Robotics will continue to advance the deployment of legged robotics products across various application environments including factory pipeline inspection, emergency rescue, fire reconnaissance, and future scientific research. Recent online information mentioned the price of LYNX M20, but the official price of LYNX M20 has not been publicly released yet. This price is actually the pre-sale price of the previous generation product, so please pay attention to verification. For detailed quotations of LYNX M20 or partnership inquiries, please feel free to contact DEEP Robotics: Email: [email protected]. Website: LinkedIn: YouTube: Twitter: TikTok： Instagram： Media Contact Company Name: DEEP Robotics Contact Person: Vera Huang Email: Send Email Country: China Website: Source: The China Box
Yahoo
a day ago
- Business
- Yahoo
Noah's Q1 2025 Earnings Show YoY and Sequential Growth in Profitability and Operating Margin Expansion
SHANGHAI, May 30, 2025 /PRNewswire/ -- Noah Holdings Limited ("Noah" or the "Company") (NYSE: NOAH and HKEX: 6686), a leading and pioneer wealth management service provider offering comprehensive one-stop advisory services on global investment and asset allocation primarily for global Chinese high-net-worth investors ("HNWIs"), reported unaudited financial results for the first quarter of 2025, highlighting a robust recovery in profitability as its CAPEX-light domestic restructuring and overseas expansion gain momentum. Non-GAAP net income rebounded 27.4% sequentially to RMB 168.8 million (US$23.3 million), while income from operations jumped 35.2% to RMB 186.0 million (US$25.6 million), driving operating margin to 30.3%. Noah continued to face broader headwinds driven by a volatile global macroeconomic environment and a low-interest rate environment in mainland China, impacting Chinese HNWI sentiment and topline growth. Despite these challenges, Noah continued to make significant progress in building out its sales teams and global infrastructure. Its CAPEX-light strategy ensures its business remains profitable and continues to generate solid cash flow during this restructuring. Zander Yin, Co-Founder, Director, and CEO of Noah, commented, "We are proud to deliver a strong rebound in profitability and operating margin this quarter, reflecting the success of our operational efficiency initiatives, CAPEX-light strategy, and accelerating overseas expansion. This clearly underscores the resilience of our business model during our ongoing restructuring and sets the stage for sustainable growth going forward. This restructuring still requires upfront investments and will take time to scale. While we are not yet at the finish line, these cost-effective foundational changes are clearly beginning to have an impact on our financials which leave us confident we are headed in the right direction." Financial Highlights Total net revenues for the quarter were RMB 614.6 million (US$84.7 million), down 5.7% from last quarter and down 5.4% year-over-year, primarily due to a decrease in distribution of insurance products and RMB-denominated private equity recurring service fees. However, net revenues from overseas continued to grow sequentially, expanding 5.0% to RMB 304.2 million (US$41.9 million) and now accounting for nearly 50% of total net revenues – showcasing the progress it continues to make in expanding overseas. Rigorous cost controls reduced operating costs and expenses by 16.7% sequentially and 18.8% year-over-year to RMB428.6 million (US$59.1 million), led by a 21.8% year-over-year cut in compensation and benefits and an 18.1% decline in selling expenses. Overseas Expansion Making Progress Noah's overseas expansion continued to gain momentum. Revenue from overseas investment products grew 20.3% year-over-year, offsetting a 22.8% decline in overseas insurance sales. USD-denominated assets under management climbed 14.2% year-over-year to US$5.9 billion, and USD-denominated assets under advisory rose 8.7% to US$9.1 billion. Noah's team of overseas relationship managers is driving this growth. The team expanded 44% year-over-year to 131, with its newly formed overseas commission-only insurance agent team also growing to 75 and already contributing approximately RMB 10 million in revenue during the quarter. The Company opened a new office in Japan and continues to explore opportunities in the US, Southeast Asia and Canada with large and underserved communities of Chinese HNWIs. Domestic Restructuring Domestic net revenues in the quarter were RMB 310.4 million, down 14.3% from last quarter and 9.4% from the same period last year, reflecting weaker insurance distribution under a low-interest environment and lower recurring service fees from private equity products. However, transaction value for RMB-denominated private secondary products surged 257.7% year-over-year to RMB 3.3 billion, up 34.6% sequentially, with associated revenue contribution rising 9.4% year-over-year. Noah's branch network has been consolidated to 10 cities in mainland China and has begun deploying online marketing and online services which will further reduce fixed costs and improve operational efficiency going forward. Driving Shareholder Returns Noah continues to prioritize shareholder interests and deliver sustained returns through its US$50 million share buyback program with the repurchase of more than 1.3 million ADSs to date. Subject to approval at its upcoming annual general meeting in June 2025, the Company plans to distribute RMB 550 million in annual and special dividends in July 2025—equal to 100% of 2024's non-GAAP net income attributable to Noah shareholders—delivering a 11% dividend yield at current prices and marking the second consecutive year of a full payout. As of March 31, 2025, cash and cash equivalents stood at RMB 4.1 billion, supplemented by RMB 1.3 billion in highly liquid short-term investments. The balance sheet remains robust, with US$11.4 per ADS in cash reserves, an improved current ratio of 4.8x, no interest-bearing debt, a price-to-book multiple of 0.5x and a price-to-earnings multiple of 11x, well below the industry average. Strategic Priorities and Outlook for 2025 Noah's priority in 2025 will be to build upon the solid progress it has made by carefully balancing the quality and quantity of growth overseas while ensuring full compliance with local regulations. Through its CAPEX-light strategy, the Company will drive its overseas expansion and build its local teams in the US, Japan, Southeast Asia and Canada. Investments in AI and technology will enhance online service capabilities, and the commission-only insurance agent network will scale to support overseas growth. It will also diversify its product suite with trusts, emigration advisory services and cross-border solutions to meet evolving client needs in volatile markets. Supported by streamlined operations, a fortified balance sheet and deepening overseas foothold, Noah is well positioned for sustainable, profitable growth throughout 2025 and beyond. About Noah Holdings Limited Noah Holdings Limited (NYSE: NOAH and HKEX: 6686) is a leading and pioneer wealth management service provider offering comprehensive one-stop advisory services on global investment and asset allocation primarily for global Chinese high-net-worth investors. Noah's American depositary shares, or ADSs, are listed on the New York Stock Exchange under the stock ticker "NOAH", and its shares are listed on the main board of the Hong Kong Stock Exchange under the stock code "6686." One ADS represents five ordinary shares, par value $0.00005 per share. In the first quarter of 2025, Noah distributed RMB 16.1 billion (US$2.2 billion) of investment products. Through Gopher Asset Management and Olive Asset Management, Noah had assets under management of RMB149.3 billion (US$20.6 billion) as of March 31, 2025. Noah's domestic and overseas wealth management business primarily distributes private equity, public securities and insurance products denominated in RMB and other currencies. Noah's network covers major cities in mainland China, as well as Hong Kong (China), New York, Silicon Valley, Singapore, Los Angeles and Japan. The Company's wealth management business had 463,161 registered clients as of March 31, 2025. Through its domestic and overseas asset management business operated by Gopher Asset Management and Olive Asset Management, Noah manages private equity, public securities, real estate, multi-strategy and other investments denominated in RMB and other currencies. The Company also provides other businesses. For more information, please visit Noah at Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Noah may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in announcements, circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange"), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Noah's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. These statements include, but are not limited to, estimates regarding the sufficiency of Noah's cash and cash equivalents and liquidity risk. A number of factors could cause Noah's actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: its goals and strategies; its future business development, financial condition and results of operations; the expected growth of the wealth management and asset management market in China and internationally; its expectations regarding demand for and market acceptance of the products it distributes; investment risks associated with investment products distributed to Noah's investors, including the risk of default by counterparties or loss of value due to market or business conditions or misconduct by counterparties; its expectations regarding keeping and strengthening its relationships with key clients; relevant government policies and regulations relating to its industries; its ability to attract and retain qualified employees; its ability to stay abreast of market trends and technological advances; its plans to invest in research and development to enhance its product choices and service offerings; competition in its industries in China and internationally; general economic and business conditions in China; and its ability to effectively protect its intellectual property rights and not to infringe on the intellectual property rights of others. Further information regarding these and other risks is included in Noah's filings with the U.S. Securities and Exchange Commission and the Hong Kong Stock Exchange. All information provided in this press release and in the attachments is as of the date of this press release, and Noah does not undertake any obligation to update any such information, including forward-looking statements, as a result of new information, future events or otherwise, except as required under the applicable law. View original content: SOURCE Noah Holdings Limited Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
2 days ago
- Business
- Yahoo
PDD Holdings Inc. (PDD): A Bull Case Theory
We came across a bullish thesis on PDD Holdings Inc. (PDD) on LongYield's Substack. In this article, we will summarize the bulls' thesis on PDD. PDD Holdings Inc. (PDD)'s share was trading at $97.88 as of 28th May. PDD's trailing and forward P/E were 10.53 and 7.76 respectively according to Yahoo Finance. Pixabay/Public domain PDD Holdings Inc., the parent company of Pinduoduo and Temu, delivered strong top-line growth in Q1 2025, with revenue rising 10% year-over-year to RMB 95.7 billion (US$13.184 billion), driven by robust performance in online marketing and transaction services. While near-term profitability declined—operating profit fell 38% and net income dropped 47%—these figures reflect PDD's deliberate and strategic reinvestment into its ecosystem. The company significantly ramped up spending in sales and marketing (+43%) and R&D (+23%) to strengthen its merchant base, upgrade supply chains, and support long-term competitiveness. This aggressive reinvestment positions PDD for sustained value creation, especially as consumer behavior increasingly favors affordable, high-quality offerings—PDD's core strength. With a powerful balance sheet, including RMB 364.5 billion (US$50.3 billion) in cash and short-term investments and no significant debt, the company is well-capitalized to weather macro uncertainties and accelerate its global expansion through Temu. The international platform continues to gain traction and, with careful navigation of geopolitical risks, could become a major growth engine. PDD's unique value-for-money positioning, group-buying model, and focus on underserved SMEs differentiate it from peers like Alibaba and Strategic initiatives such as a RMB 100 billion merchant support program, supply chain investments, and consumer incentives reinforce its ecosystem advantage. Though short-term margins are compressed, the long-term outlook remains compelling. With unmatched financial flexibility, rising global brand awareness, and a focus on sustainable growth, PDD is well-positioned to emerge as a dominant global e-commerce player over the next decade. Previously, we have covered PDD Holdings Inc. (PDD) in February 2025, wherein we summarized a bullish thesis by Favona Hathaway on Substack. The company was highlighted for its rapid growth, strong financials, and dominant position in value-for-money e-commerce through its C2M model and global expansion via Temu. The article noted PDD's impressive revenue and profit CAGR since 2021, minimal debt, and potential for a 144% market cap upside by 2029, despite geopolitical and macroeconomic risks. Since our last coverage, the stock is down 21% as of 28th May. PDD Holdings Inc. (PDD) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 87 hedge fund portfolios held PDD at the end of the first quarter which was 85 in the previous quarter. While we acknowledge the risk and potential of PDD as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than PDD but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None. This article was originally published at Insider Monkey. Sign in to access your portfolio
