[SCHEDULE 13G/A] Noah Holdings Limited American SEC Filing
HongShan-related entities and Neil Nanpeng Shen filed an amendment to Schedule 13G reporting combined beneficial ownership in Noah Holdings Limited of 16,406,215 Class A Ordinary Shares, represented by 3,281,243 American Depositary Shares, equal to 4.9% of the Class A ordinary shares outstanding (based on 335,153,359 shares outstanding as of 12/31/2024, per the issuer's 20-F). The filing breaks down holdings across affiliated funds: HongShan Capital I holds 11,328,515 shares, HongShan Capital Partners Fund I 1,301,720, and HongShan Capital Principals Fund I 1,753,365, with HongShan Capital Management I, HSG Holding and SNP China Enterprises shown as control/holding entities.
The filing discloses voting and dispositive power allocations, including 2,022,610 shares of sole voting and dispositive power attributable to Neil Nanpeng Shen and 14,383,600 shares of shared voting/dispositive power across several HongShan entities. No additional transactions, agreements, or changes to group membership are reported.
Entit脿 collegate a HongShan e Neil Nanpeng Shen hanno presentato un emendamento al Schedule 13G, dichiarando una detenzione combinata in Noah Holdings Limited pari a 16.406.215 azioni ordinarie di Classe A, rappresentate da 3.281.243 American Depositary Shares, corrispondenti al 4,9% delle azioni ordinarie di Classe A in circolazione (su 335.153.359 azioni in circolazione al 31/12/2024, secondo il 20-F dell鈥檈mittente). Il deposito specifica la ripartizione fra i fondi affiliati: HongShan Capital I detiene 11.328.515 azioni, HongShan Capital Partners Fund I 1.301.720 e HongShan Capital Principals Fund I 1.753.365, con HongShan Capital Management I, HSG Holding e SNP China Enterprises indicate come entit脿 di controllo/holding.
La dichiarazione riporta l鈥檃llocazione dei poteri di voto e dispositivi, incluse 2.022.610 azioni attribuite a Neil Nanpeng Shen con poteri di voto e dispositivi esclusivi e 14.383.600 azioni con poteri di voto/dispositivi condivisi tra varie entit脿 HongShan. Non vengono segnalate ulteriori transazioni, accordi o cambiamenti nella composizione del gruppo.
Entidades vinculadas a HongShan y Neil Nanpeng Shen presentaron una enmienda al Schedule 13G, informando una participaci贸n combinada en Noah Holdings Limited de 16.406.215 acciones ordinarias Clase A, representadas por 3.281.243 American Depositary Shares, equivalentes al 4,9% de las acciones ordinarias Clase A en circulaci贸n (sobre 335.153.359 acciones en circulaci贸n al 31/12/2024, seg煤n el 20-F del emisor). La presentaci贸n desglosa las tenencias entre fondos afiliados: HongShan Capital I posee 11.328.515 acciones, HongShan Capital Partners Fund I 1.301.720 y HongShan Capital Principals Fund I 1.753.365, y se muestran HongShan Capital Management I, HSG Holding y SNP China Enterprises como entidades de control/holding.
El documento divulga la asignaci贸n de poderes de voto y dispositivos, incluidas 2.022.610 acciones de voto y poder dispositivo en exclusiva atribuibles a Neil Nanpeng Shen y 14.383.600 acciones con poder de voto/dispositivo compartido entre varias entidades de HongShan. No se informan transacciones adicionales, acuerdos ni cambios en la composici贸n del grupo.
頇嶌偘(HongShan) 甏�霠� 雼泊霌り臣 Neil Nanpeng Shen鞚� Noah Holdings Limited鞐� 雽�頃� 瓴绊暕 靻岇湢毳� 氤搓碃頃橂姅 Schedule 13G 靾橃爼靹滊ゼ 鞝滌稖頄堨溂氅�, 攴� 氤挫湢電� 16,406,215欤� 韥措灅鞀� A 氤错喌欤�搿� 響滌嫓霅橂┌ 3,281,243 American Depositary Shares鞐� 頃措嫻頃橁碃, 鞚措姅 氚滍枆欤检嫕 齑濎垬 旮办 韥措灅鞀� A 氤错喌欤检潣 4.9%鞐� 頃措嫻頃╇媹雼�(氚滍枆靷潣 20-F鞐� 霐半ジ 2024-12-31 旮办 鞙犿喌欤检嫕 335,153,359欤�). 鞝滌稖靹滌棎電� 瓿勳棿 韼�霌滊硠 氤挫湢 雮挫棴鞚� 雮橃檧 鞛堨溂氅�: HongShan Capital I鞚� 11,328,515欤�, HongShan Capital Partners Fund I臧� 1,301,720欤�, HongShan Capital Principals Fund I臧� 1,753,365欤�毳� 氤挫湢頃橁碃, HongShan Capital Management I, HSG Holding 氚� SNP China Enterprises臧� 韱奠牅/歆�欤� 鞐旐嫲韹半 旮办灛霅橃柎 鞛堨姷雼堧嫟.
鞝滌稖靹滌棎電� 鞚橁舶甓� 氚� 觳橂秳甓� 氚半秳鞚� 瓿店皽霅橃柎 鞛堨溂氅�, Neil Nanpeng Shen鞐愱矊 攴�靻嶋悳 雼弲 鞚橁舶 氚� 觳橂秳甓岇澊 2,022,610欤�, 鞐煬 HongShan 鞐旐嫲韹办棎 瓯胳硱 瓿奠湢霅橂姅 鞚橁舶/觳橂秳甓岇澊 14,383,600欤�搿� 氤搓碃霅╇媹雼�. 於旉皜 瓯半灅, 瓿勳暯 霕愲姅 攴鸽９ 甑劚 氤�瓴届潃 氤搓碃霅橃 鞎婌晿鞀惦媹雼�.
Des entit茅s li茅es 脿 HongShan et Neil Nanpeng Shen ont d茅pos茅 un amendement au Schedule 13G d茅clarant une participation conjointe dans Noah Holdings Limited de 16 406 215 actions ordinaires de Classe A, repr茅sent茅es par 3 281 243 American Depositary Shares, soit 4,9 % des actions ordinaires de Classe A en circulation (sur 335 153 359 actions en circulation au 31/12/2024, selon le 20鈥慒 de l鈥櫭﹎etteur). Le d茅p么t d茅taille les avoirs par fonds affili茅s : HongShan Capital I d茅tient 11 328 515 actions, HongShan Capital Partners Fund I 1 301 720 et HongShan Capital Principals Fund I 1 753 365, HongShan Capital Management I, HSG Holding et SNP China Enterprises 茅tant indiqu茅s comme entit茅s de contr么le/holding.
Le d茅p么t divulgue les attributions des pouvoirs de vote et de disposition, incluant 2 022 610 actions de pouvoir de vote et de disposition exclusif attribu茅es 脿 Neil Nanpeng Shen et 14 383 600 actions de pouvoir de vote/disposition partag茅 entre plusieurs entit茅s HongShan. Aucune transaction suppl茅mentaire, accord ou changement de composition du groupe n鈥檈st signal茅.
Mit HongShan verbundene Einheiten und Neil Nanpeng Shen reichten eine 脛nderung zum Schedule 13G ein, die ein gemeinsames wirtschaftliches Eigentum an Noah Holdings Limited in H枚he von 16.406.215 Class A Stammaktien meldet, dargestellt durch 3.281.243 American Depositary Shares, entsprechend 4,9 % der ausstehenden Class A-Stammaktien (bei 335.153.359 ausstehenden Aktien per 31.12.2024 laut 20鈥慒 des Emittenten). Die Einreichung gliedert die Best盲nde nach verbundenen Fonds: HongShan Capital I h盲lt 11.328.515 Aktien, HongShan Capital Partners Fund I 1.301.720 und HongShan Capital Principals Fund I 1.753.365, wobei HongShan Capital Management I, HSG Holding und SNP China Enterprises als Kontroll-/Holdinggesellschaften aufgef眉hrt sind.
Die Meldung legt die Zuteilung von Stimm- und Verf眉gungsrechten offen, darunter 2.022.610 Aktien mit alleinigem Stimm- und Verf眉gungsrecht, die Neil Nanpeng Shen zugerechnet werden, sowie 14.383.600 Aktien mit geteilten Stimm-/Verf眉gungsrechten zwischen mehreren HongShan-Einheiten. Es werden keine weiteren Transaktionen, Vereinbarungen oder 脛nderungen der Gruppenzugeh枚rigkeit gemeldet.
- Detailed disclosure of beneficial ownership across affiliated entities and ADS representation
- Clear mapping of control chain from funds to HongShan Capital Management to HSG and SNP China Enterprises
- None.
Insights
TL;DR: HongShan and founder Neil Shen report a 4.9% stake in Noah, disclosed across funds and holding companies; ownership remains below 5%.
The filing consolidates beneficial ownership across related funds and holding entities, clarifying the chain of control and share counts represented by ADSs. The reported 4.9% stake is material to disclose but remains below common regulatory thresholds that trigger additional obligations or presumption of control. The breakdown shows the largest direct holding is HongShan Capital I with 11.33 million Class A shares. For analysts, this is useful ownership transparency but not a change in control or a new significant stake that would typically alter valuations or governance expectations.
TL;DR: Filing maps ownership and voting power among affiliates and Neil Shen, confirming centralized influence but not a >5% control position.
The disclosure details both sole and shared voting and dispositive powers, showing Neil Shen holds some sole power (2,022,610 shares) while larger positions are held collectively by affiliated funds with shared power. The hierarchical ownership structure (funds managed by HongShan Capital Management I, owned by HSG Holding, wholly owned by SNP China Enterprises, which is owned by NS) is plainly stated and improves transparency for governance assessment. However, because total beneficial ownership is 5%, this filing does not indicate a formal control event or group dissolution/formation.
Entit脿 collegate a HongShan e Neil Nanpeng Shen hanno presentato un emendamento al Schedule 13G, dichiarando una detenzione combinata in Noah Holdings Limited pari a 16.406.215 azioni ordinarie di Classe A, rappresentate da 3.281.243 American Depositary Shares, corrispondenti al 4,9% delle azioni ordinarie di Classe A in circolazione (su 335.153.359 azioni in circolazione al 31/12/2024, secondo il 20-F dell鈥檈mittente). Il deposito specifica la ripartizione fra i fondi affiliati: HongShan Capital I detiene 11.328.515 azioni, HongShan Capital Partners Fund I 1.301.720 e HongShan Capital Principals Fund I 1.753.365, con HongShan Capital Management I, HSG Holding e SNP China Enterprises indicate come entit脿 di controllo/holding.
La dichiarazione riporta l鈥檃llocazione dei poteri di voto e dispositivi, incluse 2.022.610 azioni attribuite a Neil Nanpeng Shen con poteri di voto e dispositivi esclusivi e 14.383.600 azioni con poteri di voto/dispositivi condivisi tra varie entit脿 HongShan. Non vengono segnalate ulteriori transazioni, accordi o cambiamenti nella composizione del gruppo.
Entidades vinculadas a HongShan y Neil Nanpeng Shen presentaron una enmienda al Schedule 13G, informando una participaci贸n combinada en Noah Holdings Limited de 16.406.215 acciones ordinarias Clase A, representadas por 3.281.243 American Depositary Shares, equivalentes al 4,9% de las acciones ordinarias Clase A en circulaci贸n (sobre 335.153.359 acciones en circulaci贸n al 31/12/2024, seg煤n el 20-F del emisor). La presentaci贸n desglosa las tenencias entre fondos afiliados: HongShan Capital I posee 11.328.515 acciones, HongShan Capital Partners Fund I 1.301.720 y HongShan Capital Principals Fund I 1.753.365, y se muestran HongShan Capital Management I, HSG Holding y SNP China Enterprises como entidades de control/holding.
El documento divulga la asignaci贸n de poderes de voto y dispositivos, incluidas 2.022.610 acciones de voto y poder dispositivo en exclusiva atribuibles a Neil Nanpeng Shen y 14.383.600 acciones con poder de voto/dispositivo compartido entre varias entidades de HongShan. No se informan transacciones adicionales, acuerdos ni cambios en la composici贸n del grupo.
頇嶌偘(HongShan) 甏�霠� 雼泊霌り臣 Neil Nanpeng Shen鞚� Noah Holdings Limited鞐� 雽�頃� 瓴绊暕 靻岇湢毳� 氤搓碃頃橂姅 Schedule 13G 靾橃爼靹滊ゼ 鞝滌稖頄堨溂氅�, 攴� 氤挫湢電� 16,406,215欤� 韥措灅鞀� A 氤错喌欤�搿� 響滌嫓霅橂┌ 3,281,243 American Depositary Shares鞐� 頃措嫻頃橁碃, 鞚措姅 氚滍枆欤检嫕 齑濎垬 旮办 韥措灅鞀� A 氤错喌欤检潣 4.9%鞐� 頃措嫻頃╇媹雼�(氚滍枆靷潣 20-F鞐� 霐半ジ 2024-12-31 旮办 鞙犿喌欤检嫕 335,153,359欤�). 鞝滌稖靹滌棎電� 瓿勳棿 韼�霌滊硠 氤挫湢 雮挫棴鞚� 雮橃檧 鞛堨溂氅�: HongShan Capital I鞚� 11,328,515欤�, HongShan Capital Partners Fund I臧� 1,301,720欤�, HongShan Capital Principals Fund I臧� 1,753,365欤�毳� 氤挫湢頃橁碃, HongShan Capital Management I, HSG Holding 氚� SNP China Enterprises臧� 韱奠牅/歆�欤� 鞐旐嫲韹半 旮办灛霅橃柎 鞛堨姷雼堧嫟.
鞝滌稖靹滌棎電� 鞚橁舶甓� 氚� 觳橂秳甓� 氚半秳鞚� 瓿店皽霅橃柎 鞛堨溂氅�, Neil Nanpeng Shen鞐愱矊 攴�靻嶋悳 雼弲 鞚橁舶 氚� 觳橂秳甓岇澊 2,022,610欤�, 鞐煬 HongShan 鞐旐嫲韹办棎 瓯胳硱 瓿奠湢霅橂姅 鞚橁舶/觳橂秳甓岇澊 14,383,600欤�搿� 氤搓碃霅╇媹雼�. 於旉皜 瓯半灅, 瓿勳暯 霕愲姅 攴鸽９ 甑劚 氤�瓴届潃 氤搓碃霅橃 鞎婌晿鞀惦媹雼�.
Des entit茅s li茅es 脿 HongShan et Neil Nanpeng Shen ont d茅pos茅 un amendement au Schedule 13G d茅clarant une participation conjointe dans Noah Holdings Limited de 16 406 215 actions ordinaires de Classe A, repr茅sent茅es par 3 281 243 American Depositary Shares, soit 4,9 % des actions ordinaires de Classe A en circulation (sur 335 153 359 actions en circulation au 31/12/2024, selon le 20鈥慒 de l鈥櫭﹎etteur). Le d茅p么t d茅taille les avoirs par fonds affili茅s : HongShan Capital I d茅tient 11 328 515 actions, HongShan Capital Partners Fund I 1 301 720 et HongShan Capital Principals Fund I 1 753 365, HongShan Capital Management I, HSG Holding et SNP China Enterprises 茅tant indiqu茅s comme entit茅s de contr么le/holding.
Le d茅p么t divulgue les attributions des pouvoirs de vote et de disposition, incluant 2 022 610 actions de pouvoir de vote et de disposition exclusif attribu茅es 脿 Neil Nanpeng Shen et 14 383 600 actions de pouvoir de vote/disposition partag茅 entre plusieurs entit茅s HongShan. Aucune transaction suppl茅mentaire, accord ou changement de composition du groupe n鈥檈st signal茅.
Mit HongShan verbundene Einheiten und Neil Nanpeng Shen reichten eine 脛nderung zum Schedule 13G ein, die ein gemeinsames wirtschaftliches Eigentum an Noah Holdings Limited in H枚he von 16.406.215 Class A Stammaktien meldet, dargestellt durch 3.281.243 American Depositary Shares, entsprechend 4,9 % der ausstehenden Class A-Stammaktien (bei 335.153.359 ausstehenden Aktien per 31.12.2024 laut 20鈥慒 des Emittenten). Die Einreichung gliedert die Best盲nde nach verbundenen Fonds: HongShan Capital I h盲lt 11.328.515 Aktien, HongShan Capital Partners Fund I 1.301.720 und HongShan Capital Principals Fund I 1.753.365, wobei HongShan Capital Management I, HSG Holding und SNP China Enterprises als Kontroll-/Holdinggesellschaften aufgef眉hrt sind.
Die Meldung legt die Zuteilung von Stimm- und Verf眉gungsrechten offen, darunter 2.022.610 Aktien mit alleinigem Stimm- und Verf眉gungsrecht, die Neil Nanpeng Shen zugerechnet werden, sowie 14.383.600 Aktien mit geteilten Stimm-/Verf眉gungsrechten zwischen mehreren HongShan-Einheiten. Es werden keine weiteren Transaktionen, Vereinbarungen oder 脛nderungen der Gruppenzugeh枚rigkeit gemeldet.
FAQ
What stake in Noah Holdings (NOAH) is reported in this Schedule 13G/A?
Which HongShan entity holds the largest direct position in NOAH?
Does Neil Nanpeng Shen have sole voting or dispositive power?
Is this filing indicating a change of control or a group formation?
On what share count is the ownership percentage based?
