Noah Holdings Limited, a leading wealth management service provider in China offering comprehensive one-stop advisory services on global investment and asset allocation primarily for high net worth investors, today provides an update on its status under the Holding Foreign Companies Accountable Act.
On April 12, 2022, the U.S. Securities and Exchange Commission provisionally named the Company as a Commission-Identified Issuer after the Company filed its annual report on Form 20-F for the fiscal year ended December 31, 2021 with the SEC on April 6, 2022, which included an audit report issued by a public accounting firm that the Public Company Accounting Oversight Board has determined that it is unable to inspect or investigate completely. The SEC estimated that 273 registrants might be identified under the HFCAA as part of its review of registrants in calendar year 2020.
The Company’s ADSs, two of which represent one Class A ordinary share of the Company, have been listed on the New York Stock Exchange under the symbol “NOAH” since November 10, 2010.
As the organization will continue to monitor market developments and evaluate all strategic options, with the appropriate counsel and guidance, the organization highlighted that this update has no impact on the business operations of the organization.