The share cancellation confirms ongoing capital return via buybacks, but the RSU issuance related to the Camsing settlement is dilutive. Monitor upcoming 20-F for the full financial impact of the Camsing settlement and any further buyback activity. The net dilution is minimal (~0.6%), so this filing alone is not a catalyst.
Price Chart
Executive Summary
Noah Holdings filed its monthly Hong Kong stock exchange return (FF301) and Next Day Disclosure Return, revealing a net increase of 15,373,813 ordinary shares due to RSU vesting/settlement related to the Camsing incident, offset by the cancellation of 9,378,935 ordinary shares (1,875,787 ADSs) repurchased on the NYSE. The cancellation, executed on July 7, 2026, reduced share count by 2.66% but does not change the overall dilutive impact of the RSU issuance during the month. This is an administrative recap of previously disclosed capital structure actions with no new material financial information.
Key Facts
- Issued 15,373,813 new ordinary shares under the RSU Plan in June 2026, related to the Camsing Settlement Plans.
- Cancelled 9,378,935 ordinary shares (1,875,787 ADSs) on July 7, 2026, repurchased at a weighted average price of USD 2.24 per ordinary share (USD 11.20 per ADS).
- Total issued shares decreased from 352,607,750 to 343,228,815 after cancellation, a net reduction of 2.66%.
- The RSU Plan issuance (15.4M shares) was partially offset by the share cancellation (9.4M shares), resulting in a net increase of ~6.0M shares for the period.
- No change to authorized share capital; remains at 1,000,000,000 shares with par value USD 0.00005.
Financial Impact
Net share count impact: ~+2.0M shares (~0.6% dilution) after offsetting RSU issuances against cancelled buyback shares. No financial figures for the buyback cost or the RSU settlement value were disclosed.
Risk Factors
- Ongoing dilution from RSU vesting related to the Camsing settlement plans.
- Further buyback activity may be limited by cash allocation to settlement obligations.
- Potential overhang from unvested RSUs and options under the 2022 Share Incentive Plan (15.6M options and 3.9M other awards outstanding).
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001104659-26-082045 |
| Document: tm2620041d1_ex99-1.htm | 0001104659-26-082045 |
| Document: tm2620041d1_6k.htm | 0001104659-26-082045 |
| Document: 0001104659-26-082045-index-headers.html | 0001104659-26-082045 |
| Document: 0001104659-26-082045-index.html | 0001104659-26-082045 |
| Document: 0001104659-26-082045.txt | 0001104659-26-082045 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 8, 2026 18d ago | 6-K | $7.62 | awaiting T+60 | — | $6.89 (−9.58%) |
Sep 15, 2026 5w ago | 6-K | $8.14 | awaiting T+60 | — | $6.89 (−15.36%) |
Sep 4, 2026 7w ago | 6-K | $8.43 | awaiting T+60 | — | $6.89 (−18.27%) |
Aug 26, 2026 8w ago | 6-K | $8.71 | awaiting T+60 | — | $6.89 (−20.90%) |
Aug 25, 2026 8w ago | 6-K | $8.71 | awaiting T+60 | — | $6.89 (−20.90%) |
Aug 17, 2026 10w ago | 6-K | $8.54 | awaiting T+60 | — | $6.89 (−19.32%) |
Aug 14, 2026 10w ago | 6-K | $8.63 | awaiting T+60 | — | $6.89 (−20.16%) |
Jul 10, 2026 15w ago | 6-K | $8.88 $7.70 | ▼ −13.29% | ▼ −15.92% | $6.89 (−22.41%) |
Jul 9, 2026 15w ago | 6-K | $8.90 $7.79 | ▼ −12.47% | ▼ −14.86% | $6.89 (−22.58%) |
Jul 2, 2026 16w ago | 6-K | $10.03 $7.96 | ▼ −20.64% | ▼ −23.43% | $6.89 (−31.31%) |
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