Noah Holdings Limited, a leading wealth management service provider, reported its unaudited financial results for the second quarter of 2025. The company achieved net revenues of RMB629.5 million (US$87.9 million), marking a 2.2% increase from the same period in 2024. This growth was primarily attributed to an increased distribution of overseas and domestic private secondary products. Additionally, net revenues experienced a 2.4% rise from the first quarter of 2025, driven by a boost in revenue from the distribution of investment products. Starting from the fourth quarter of 2024, Noah Holdings adopted a refined segment reporting structure to provide a clearer understanding of the financial performance and strategic progress of its domestic and overseas business segments. This change aligns with the company's recent operational adjustments and organizational restructuring, offering investors a more transparent view of each segment's contributions. Historical financial data from 2024 has been recast to align with this new reporting structure for comparative purposes.