Company: NOAH
Filing Date: 2025-08-14
Form Type: SCHEDULE 13G/A
Source: 0000950170-25-108852
Chunk: 0

Company: NOAH HOLDINGS LTD
Filing Date: 2025-08-14
Form: SCHEDULE 13G/A
Chunk 0
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's 20-F filed with the Securities and Exchange Commission on April 24, 2025.

| SCHEDULE 13G |

| CUSIP No. | 654870102 |

| 1                                                                  |                         HongShan Capital Management I, L.P. ("HONGSHAN CAPITAL MGMT I") |
| 2                                                                  |                                                                                   -a)(b |
| 3                                                                  |                                                                            Sec Use Only |
| 4                                                                  |                                                                          CAYMAN ISLANDS |
| Number of Shares Beneficially Owned by Each Reporting Person With: |                                                                      5           0.00   
                                                                      6  14,383,600.00   
                                                                      7           0.00   
                                                                        8  14,383,600.00 |
| 9                                                                  |                                                                           14,383,600.00 |
| 10                                                                 | Check box if the aggregate amount in row (9) excludes certain shares (See Instructions) |
| 11                                                                 |                                                                                   4.3 % |
| 12                                                                 |                                                                                      PN |

Comment for Type of Reporting Person:Row 6, 8 and 9. Represented by 2,876,720 American Depositary Shares. Row 6, 8 and 9. 11,328,515 Class A Ordinary Shares are directly held by HONGSHAN CAPITAL I, 1,301,720 Class A Ordinary Shares are directly held by HONGSHAN CAPITAL PTRS I and 1,753,365.00 Class A Ordinary Shares are directly held by HONGSHAN CAPITAL PRIN I. The General Partner of each of HONGSHAN CAPITAL I, HONGSHAN CAPITAL PTRS I and HONGSHAN CAPITAL PRIN I is HONGSHAN CAPITAL MGMT I. Row 11. Based on a total of 335,153,359 shares of Class A Ordinary Shares outstanding as of December 31, 2024, as reported in the Issuer's 20-F filed with the Securities and Exchange Commission on April 24, 2025.

| SCHEDULE 13G |

| CUSIP No. | 654870102 |

| 1                                                                  |                                                     HSG Holding Limited ("HSG HOLDING") |
| 2                                                                  |                                                                                   -a)(b |
| 3                                                                  |                                                                            Sec Use Only |
| 4                                                                  |                                                                          CAYMAN ISLANDS |
| Number of Shares Beneficially Owned by Each Reporting Person