Company: NOAH
Filing Date: 2025-04-24
Form Type: 20-F
Source: 0001410578-25-000852
Chunk: 201

Company: NOAH HOLDINGS LTD
Filing Date: 2025-04-24
Form: 20-F
Item: Item 5
Chunk 201
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424.9 million, which was primarily attributable to a decrease in accrued payroll and welfare of RMB277.6 million, a decrease in other current liabilities of RMB178.8 million and an increase in trading securities of RMB192.9 million, partially offset by a decrease in accounts receivable of RMB304.7 million and (iii) increase in deferred tax assets and liabilities of RMB84.9 million.
Investing Activities
Net cash used in investing activities in 2024 was RMB840.8 million (US$115.2 million), primarily attributable to an increase in held-to-maturity investments of RMB975.8 million (US$133.7 million), which was partially offset by collection of loans originated to third parties of RMB135.3 million (US$18.5 million).
Net cash used in investing activities in 2023 was RMB247.1 million, primarily attributable to loans to related parties of RMB84.3 million and acquisitions, net of cash required of RMB55.4 million, which was partially offset by principal collection of loans to related parties of RMB221.3 million.
Net cash provided by investing activities in 2022 was RMB74.3 million, primarily attributable to net cash inflow from collection of loans originated to third parties of RMB148.3 million, which was partially offset by purchase of property and equipment of RMB62.7 million.

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Financing Activities
Net cash used in financing activities was RMB1,134.2 million (US$155.4 million) in 2024 due to dividend paid of RMB1,007.9 million (US$138.1 million) and divestment of non-controlling interests of RMB51.8 million (US$7.1 million) as well as share repurchase of RMB 53.3 million (US$7.3 million).
Net cash used in financing activities was RMB199.8 million in 2023 due to dividend paid of RMB177.5 million, partially offset by contribution from non-controlling interests of RMB13.9 million and distributions to non-controlling interests of RMB23.6 million.
Net cash provided by financing activities was RMB233.8 million in 2022 due to our global initial public offering and listing in Hong Kong with net proceeds of RMB247.0 million, partially offset by divestment of non-controlling interests of RMB23.7