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Additional Financial Information of Parent Company - Financial Statements Schedule I

12 Months Ended

Dec. 31, 2022

Additional Financial Information of Parent Company - Financial Statements Schedule I

Additional Financial Information of Parent Company - Financial Statements Schedule I

Additional Financial Information of Parent Company – Financial Statements Schedule I

The following Schedule I has been provided pursuant to the requirements of Rules 12-04(a) and 5-04(c) of Regulation S-X, which require condensed financial information as to the financial position, changes in financial position and results of operations of a parent company as of the same dates and for the same periods for which audited consolidated financial statements have been presented, as the restricted net assets was more than 25% of the Company’s consolidated net assets as of December 31, 2022.

a) Condensed Balance Sheets (Amount in Thousands, Except Share and Per Share Data)


		As of December 31,
		2021		2022		2022
		RMB		RMB		US$
Assets
Current assets
Cash and cash equivalents		224,145		349,845		50,723
Amounts due from related parties		760		823		119
Total current assets		224,905		350,668		50,842
Investments in subsidiaries and VIEs		8,538,829		9,636,776		1,397,199
Investments in affiliates		301,509		361,831		52,461
Other non-current assets		637		724		105
Total assets		9,065,880		10,349,999		1,500,607
Liabilities and Equity
Current liabilities
Contingent liabilities		433,345		469,018		68,001
Amounts due to subsidiaries and VIEs		575,428		467,178		67,734
Other current liabilities		16,332		8,107		1,175
Total liabilities		1,025,105		944,303		136,910
Shareholder’s equity
Ordinary shares (US$0.0005 par value): 91,394,900 Class A ordinary shares authorized, 22,683,970 shares issued and 21,764,455 shares outstanding as of December 31, 2021 and 100,000,000 ordinary shares authorized, 31,945,575 shares issued and 31,301,932 shares outstanding as of December 31, 2022		76		105		15
8,605,100 shares and nil Class B ordinary shares authorized, 8,315,000 and nil shares issued and outstanding as of December 31, 2021 and 2022, respectively		28		—		—
Treasury stock (919,515 and nil ordinary shares as of December 31, 2021 and 2022, respectively)		(541,379)		—		—
Additional paid-in capital		3,534,741		3,803,183		551,410
Retained earnings		5,187,323		5,604,954		812,642
Accumulated other comprehensive loss		(140,014)		(2,546)		(370)
Total shareholders’ equity		8,040,775		9,405,696		1,363,697
Total liabilities and shareholders’ equity		9,065,880		10,349,999		1,500,607

b) Condensed Statements of Operations (Amount in Thousands)


		Year ended December 31,
		2020		2021		2022		2022
		RMB		RMB		RMB		US$
Net revenues		—		—		—		—
Operating cost and expenses
Selling expenses		356		285		2,838		411
General and administrative expenses		5,588		41,955		16,948		2,457
Other operating expenses		—		—		12,516		1,815
Total operating cost and expenses		5,944		42,240		32,302		4,683
Loss from operations		(5,944)		(42,240)		(32,302)		(4,683)
Other income (expenses):
Interest income		20,545		2,266		4,250		616
Interest expenses		—		—		—		—
Settlement expenses		(1,828,907)		(19,908)		—		—
Other income (expenses)		14,713		(4,211)		11,083		1,607
Total other (expenses) income		(1,793,649)		(21,853)		15,333		2,223
Loss before taxes and income from equity in affiliates, subsidiaries and VIEs		(1,799,593)		(64,093)		(16,969)		(2,460)
Income tax expenses		(3,058)		—		—		—
Income from equity in affiliates		78,768		68,388		51,459		7,461
Income from equity in subsidiaries and VIEs		978,658		1,309,836		942,081		136,586
Net (loss) income		(745,225)		1,314,131		976,571		141,587

c) Condensed Statements of Comprehensive (Loss) Income (Amount in Thousands)


		Year ended December 31,
		2020		2021		2022		2022
		RMB		RMB		RMB		US$
Net (loss) income		(745,225)		1,314,131		976,571		141,587
Other comprehensive (loss) income, net of tax
Foreign currency translation adjustments		(176,934)		(60,900)		137,468		19,932
Fair value fluctuation of available-for-sale investment, net of tax of nil		771		—		—		—
Total other comprehensive (loss) income, net of tax		(176,163)		(60,900)		137,468		19,932
Comprehensive (loss) income		(921,388)		1,253,231		1,114,039		161,519

d) Condensed Statements of Cash Flows (Amount in Thousands)


		Year ended December 31,
		2020		2021		2022		2022
		RMB		RMB		RMB		US$
Cash flows from operating activities:
Net (loss) income		(745,225)		1,314,131		976,571		141,587
Adjustments to reconcile net income to net cash provided by operating activities:
Income from equity in subsidiaries and VIEs, net of dividends		(978,658)		(1,309,836)		(942,081)		(136,586)
Income from equity in affiliates, net of dividends		(58,913)		(28,606)		(41,385)		(6,000)
Share-based settlement expense		1,290,811		19,908		—		—
Changes in operating assets and liabilities:
Amounts due from subsidiaries and VIEs		356,685		—		—		—
Amounts due from related parties		(94)		18		(63)		(9)
Amounts due to subsidiaries and VIEs		56,937		28,584		52,262		7,577
Other current assets		(31,417)		40,772		—		—
Deferred tax assets		1,226		—		—		—
Contingent liabilities		530,433		(11,398)		—		—
Other current liabilities		(10,249)		11,828		(31,336)		(4,543)
Other non-current liabilities		908		(2,276)		—		—
Net cash provided by operating activities		412,444		63,125		13,968		2,026
Cash flows from investing activities:
Increase in investments in subsidiaries and VIEs		(43,690)		(1,120,785)		(17,492)		(2,536)
Capital return from investments in affiliates		101,114		—		—		—
Net cash provided by (used in) investing activities		57,424		(1,120,785)		(17,492)		(2,536)
Cash flows from financing activities:
Proceeds from issuance of ordinary shares upon exercise of stock options		33,372		11,114		1,493		216
Proceeds from advances from subsidiaries		—		537,604		287,876		41,738
Repayment of advances from subsidiaries		—		(82,481)		(448,387)		(65,010)
Payment for repurchase of ordinary shares		(281,610)		(372,376)		—		—
Proceeds from offering, net of issuance cost		—		—		247,015		35,814
Net cash (used in) provided by financing activities		(248,238)		93,861		87,997		12,758
Effect of exchange rate changes		(111,190)		(171,897)		41,227		5,977
Net increase (decrease) in cash and cash equivalents		110,440		(1,135,696)		125,700		18,225
Cash and cash equivalents - beginning of year		1,249,401		1,359,841		224,145		32,498
Cash and cash equivalents - end of year		1,359,841		224,145		349,845		50,723

e) Notes to Condensed Financial Statements

1.

The condensed financial statements of Noah Holdings Limited have been prepared using the same accounting policies as set out in the consolidated financial statements except that the equity method has been used to account for investments in subsidiaries and VIEs. Such investment in subsidiaries and VIEs are presented on the balance sheets as investment in subsidiaries and VIEs and the profit of the subsidiaries and VIEs is presented as income from equity in subsidiaries and VIEs on the statement of operations.

2.	As of December 31, 2021 and 2022, there were no material contingencies, significant provisions of long-term obligations of the Company, except for those which have been separately disclosed in the consolidated financial statements.

3.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. The footnote disclosure certain supplemental information relating to the operations of the Company and, as such, these statements should be read in conjunction with the notes to the accompanying Consolidated Financial Statements.