Company: NOAH
Filing Date: 2025-04-24
Form Type: 20-F
Source: 0001410578-25-000852
Chunk: 299

Company: NOAH HOLDINGS LTD
Filing Date: 2025-04-24
Form: 20-F
Item: Item 16K
Chunk 299
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 income attributable to Noah Holdings Limited shareholders and transfers (to) from non-controlling interests 959,756 993,445 475,531 65,147
(k) Property and Equipment, net
Property and equipment is stated at cost less accumulated depreciation, and is depreciated using the straight-line method over the following estimated useful lives:
Estimated Useful Lives in Years
Leasehold improvements Shorter of the lease term or expected useful life
Furniture, fixtures and equipment 3 - 5 years
Motor vehicles 5 years
Software 2 - 5 years
Building improvements 10 years
Buildings 30 years
The estimated useful life of buildings acquired in the year of 2021 was determined based on the remaining term of the real estate certificate.
Gains and losses from the disposal of property and equipment are included in income from operations.
(l) Impairment of long-lived assets
The Group reviews long-lived assets for indicators of impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The evaluation is performed at the lowest level of identifiable cash flows. Undiscounted cash flows expected to be generated by the related assets are estimated over the asset’s useful life based on updated projections. If the evaluation indicates that the carrying amount of the asset may not be recoverable, any potential impairment is measured based upon the fair value of the related asset or asset group as determined by an appropriate market appraisal or other valuation technique.
(m) Revenue Recognition
Under the guidance of ASC 606, the Group is required to (a) identify the contract(s) with a customer, (b) identify the performance obligations in the contract, (c) determine the transaction price, (d) allocate the transaction price to the performance obligations in the contract and (e) recognize revenue when (or as) the Group satisfies its performance obligation. In determining the transaction price, the Group has included variable consideration only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized would not occur. Revenues are recorded, net of sales related taxes and surcharges.

F-20

Table of Contents

The following table summarizes the Group’s main revenues streams from contracts with its customers:
Revenue Streams Performance Obligation Payment Terms Variable or
Satisfied Over Time or Fixed
Point In Time Considerations
One-time commissions - Fund distribution services Point in time Typically paid within a month after investment product established Fixed
One-time commissions - Insurance brokerage services Point in time Typically paid within a month after insurance