Company: NOAH
Filing Date: 2025-04-24
Form Type: 20-F
Source: 0001410578-25-000852
Chunk: 253

Company: NOAH HOLDINGS LTD
Filing Date: 2025-04-24
Form: 20-F
Item: Item 11
Chunk 253
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 balance of US$236.2 million and a U.S. dollar denominated cash balance of US$287.4 million. Assuming we had converted the U.S. dollar denominated cash balance of US$287.4 million as of December 31, 2024 into RMB at the exchange rate of US$1.00 for RMB7.2993 as of December 31, 2024, this cash balance would have been RMB2,098.1 million. Conversely, if we decide to convert our RMB into U.S. dollars for the purpose of making payments for dividends on our ordinary shares or ADSs or for other business purposes, appreciation of the U.S. dollar against the RMB would have a negative effect on the U.S. dollar amount available to us. We have not used any forward contracts or currency borrowings to hedge our exposure to foreign currency exchange risk.
Interest Rate Risk
Our exposure to interest rate risk primarily relates to interest income generated by excess cash, which is mostly held in interest bearing bank deposits.
As of December 31, 2024, we had RMB799.9 million (US$109.6 million) invested in debt products with a weighted average duration of approximately 1.15 years.
We have not used derivative financial instruments in our investment portfolio. Interest earning instruments carry a degree of interest rate risk. We have not been exposed to, nor do we anticipate being exposed to, material risks due to changes in market interest rates. However, our future interest income may fall short of expectations due to changes in market interest rates.
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