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Noah Holdings Ltd. Class A ( (HK:6686) ) has issued an announcement.
Noah Holdings Private Wealth and Asset Management Limited announced an update on legal proceedings related to certain credit funds managed by its affiliated entity Shanghai Gopher Asset Management, which had invested in receivables tied to fraudulent activities involving Camsing International Holding Limited. Shanghai Gopher has received arbitration awards in 16 cases with a total disputed amount of about RMB36.5 million, under which it must compensate relevant investors for 70% of their principal investments, while claims for interest or returns were rejected; the board is now assessing, together with the company’s auditor, the potential impact of these awards on the group’s consolidated financial performance and will provide further updates as required.
More about Noah Holdings Ltd. Class A
Noah Holdings Private Wealth and Asset Management Limited, incorporated in the Cayman Islands and listed in Hong Kong, operates in the private wealth and asset management industry, serving investors through a range of investment products, including credit funds managed by its consolidated affiliated entities and subsidiaries in mainland China.
Average Trading Volume: 3,448
Technical Sentiment Signal: Buy
Current Market Cap: HK$5.82B
For a thorough assessment of 6686 stock, go to TipRanks’ Stock Analysis page.