Company: NOAH
Filing Date: 2025-04-24
Form Type: 20-F
Source: 0001410578-25-000852
Chunk: 200

Company: NOAH HOLDINGS LTD
Filing Date: 2025-04-24
Form: 20-F
Item: Item 5
Chunk 200
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-cash charges of RMB494.7 million (US$67.8 million), which was primarily attributable to depreciation expenses of RMB156.7 million (US$21.5 million) and share-based compensation of RMB109.0 million (US$14.9 million) and income from equity in affiliates, net of dividends of RMB160.6 million (US$22.0 million), (ii) changes of operating assets and liabilities of RMB690.3 million (US$94.6 million) which was primarily attributable to a decrease in accrued payroll and welfare expenses of RMB151.4 million (US$20.7 million) and a decrease in other non-current liabilities of RMB227.4 million (US$31.2 million), and a decrease in amounts due from related parties of RMB169.6 million (US$23.2 million), (iii) changes in deferred tax assets and liabilities of RMB96.0 million (US$13.1 million).
Net cash provided by operating activities in 2023 was RMB1,318.3 million, primarily as a result of net income of RMB1,001.0 million, adjusted by (i) certain non-cash charges of RMB291.0 million, which was primarily attributable to depreciation expenses of RMB158.1 million and non-cash lease expenses of RMB78.2 million, partially offset by income from equity in affiliates, net of dividends of RMB19.3 million, (ii) changes of operating assets and liabilities of RMB8.7 million which was primarily attributable to a decrease in accrued payroll and welfare expenses of RMB104.9 million and a decrease in lease assets and liabilities of RMB78.2 million, partially offset by an increase in trading debt securities of RMB124.0 million, and (iii) changes in deferred tax assets and liabilities of RMB17.6 million.
Net cash provided by operating activities in 2022 was RMB632.9 million, primarily as a result of net income of RMB971.6 million, adjusted by (i) certain non-cash charges of RMB171.1 million, which was primarily attributable to depreciation and amortization of RMB156.0 million and non-cash lease expenses of RMB95.3 million, partially offset by income from equity in affiliates, net of dividends of RMB33.7 million, (ii) changes of operating assets and liabilities of RMB