Company: NOAH
Filing Date: 2025-04-24
Form Type: 20-F
Source: 0001410578-25-000852
Chunk: 202

Company: NOAH HOLDINGS LTD
Filing Date: 2025-04-24
Form: 20-F
Item: Item 5
Chunk 202
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 million.
Material Cash Requirements
Our material cash requirements as of December 31, 2024 and any subsequent interim period primarily include our capital expenditures, operating lease obligations, payment of employee’s payroll and welfare expenses, taxes and other various selling, general and administrative expenses to support our daily business operations, and we intend to fund those requirements with our existing cash balances.
Capital Expenditures
Our capital expenditures primarily consist of purchases of property and equipment, and renovation and upgrade of our newly purchased office premises. Our capital expenditures were RMB62.7 million, RMB157.9 million and RMB82.2 million (US$11.3 million) in 2022, 2023 and 2024, respectively. We currently do not have any commitment for capital expenditures or other cash requirements outside of our ordinary course of business. As of the date of this annual report, we expect that our capital expenditure in 2025 to be approximately RMB37.0 million (US$5.1 million) primarily on the renovation and upgrade of our headquarter premises, and we intend to fund our planned capital expenditures with existing cash balance.
Operating Lease Obligations
Our operating lease assets primarily represents various facilities under non-cancelable operating leases expiring within one to ten years. Our operating lease expenses were RMB98.9 million, RMB85.7 million and RMB64.4 million (US$8.8 million) in 2022, 2023 and 2024, respectively. The majority of our operating lease obligations are related to our office lease agreements in mainland China.
The following table sets forth our contractual obligations as of December 31, 2024:
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       ​          ​      ​      ​        ​       ​        ​       ​        ​       ​      ​   
----------------------------------------------------------------------------------------------
​                 ​   Payment Due by Period                                                   
​                 ​   ​         ​    ​           ​    ​           ​    ​           ​    More  
​                 ​   ​         ​    Less than   ​    ​           ​    ​           ​    than 5
​                 ​   Total     ​    1 year      ​    1-2 years   ​    2-5 years        years 
​                 ​   RMB            RMB              RMB              RMB              RMB   
​                     (in thousands)                                                          
Operating Lease       123,488   ​    47,208      ​    38,430      ​    37,