SCHEDULE 13G/A 0001470766 XXXXXXXX LIVE 7 Ordinary Shares, par value $0.00005 per share 06/30/2025 0001499543 Noah Holdings Limited 654870102 No.1226 South Shenbin Road Minhang District, Shanghai F4 201107 Rule 13d-1(d) HongShan Capital I, L.P. ("HONGSHAN CAPITAL I") E9 0 11328515 0 11328515 11328515 N 3.4 PN Row 6, 8 and 9. Represented by 2,265,703 American Depositary Shares. 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. HongShan Capital Partners Fund I, L.P. ("HONGSHAN CAPITAL PTRS I") E9 0 1301720 0 1301720 1301720 N 0.4 PN Row 6, 8 and 9. Represented by 260,344 American Depositary Shares. 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. HongShan Capital Principals Fund I, L.P. ("HONGSHAN CAPITAL PRIN I") E9 0 1753365 0 1753365 1753365 N 0.5 PN Row 6, 8 and 9. Represented by 350,673 American Depositary Shares. 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. HongShan Capital Management I, L.P. ("HONGSHAN CAPITAL MGMT I") E9 0 14383600 0 14383600 14383600 N 4.3 PN 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. HSG Holding Limited ("HSG HOLDING") E9 0 14383600 0 14383600 14383600 N 4.3 OO 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. The General Partner of HONGSHAN CAPITAL MGMT I is HSG HOLDING. 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. SNP China Enterprises Limited ("SNP CHINA ENTERPRISES") D8 0 14383600 0 14383600 14383600 N 4.3 OO 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. The General Partner of HONGSHAN CAPITAL MGMT I is HSG HOLDING. HSG HOLDING is wholly owned by SNP CHINA ENTERPRISES. 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. Neil Nanpeng Shen ("NS") K3 2022610 14383600 2022610 14383600 16406210 N 4.9 IN Row 5 and 7. Represented by 404,522 American Depositary Shares. Row 6 and 8. Represented by 2,876,720 American Depositary Shares. Row 9. Represented by 3,281,242 American Depositary Shares ("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. The General Partner of HONGSHAN CAPITAL MGMT I is HSG HOLDING. HSG HOLDING is wholly owned by SNP CHINA ENTERPRISES. NS wholly owns SNP CHINA ENTERPRISES. 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. Noah Holdings Limited No.1226, South Shenbin Road, Minhang District, Shanghai 201107, People's Republic of China HongShan Capital I, L.P. HongShan Capital Partners Fund I, L.P. HongShan Capital Principals Fund I, L.P. HongShan Capital Management I, L.P. HSG Holding Limited SNP China Enterprises Limited Neil Nanpeng Shen The General Partner of each of HONGSHAN CAPITAL I, HONGSHAN CAPITAL PTRS I and HONGSHAN CAPITAL PRIN I is HONGSHAN CAPITAL MGMT I. The General Partner of HONGSHAN CAPITAL MGMT I is HSG HOLDING. HSG HOLDING is wholly owned by SNP CHINA ENTERPRISES. NS wholly owns SNP CHINA ENTERPRISES. Suite 3613, 36/F, Two Pacific Place 88 Queensway Hong Kong HONGSHAN CAPITAL MGMT I, HONGSHAN CAPITAL I, HONGSHAN CAPITAL PTRS I, HONGSHAN CAPITAL PRIN I, HSG HOLDING: Cayman Islands; SNP CHINA ENTERPRISES: British Virgin Islands; NS: Hong Kong SAR Y 16,406,215 Represented by 3,281,243 American Depositary Shares. 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. The General Partner of HONGSHAN CAPITAL MGMT I is HSG HOLDING. HSG HOLDING is wholly owned by SNP CHINA ENTERPRISES. NS wholly owns SNP CHINA ENTERPRISES. 4.9% The percentage is 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. Neil Nanpeng Shen: 2,022,610 HongShan Capital I, L.P.: 11,328,515 HongShan Capital Partners Fund I, L.P.: 1,301,720 HongShan Capital Principals Fund I, L.P.: 1,753,365 HongShan Capital Management I, L.P.: 14,383,600 HSG Holding Limited: 14,383,600 SNP China Enterprises Limited: 14,383,600 Neil Nanpeng Shen: 14,383,600 Neil Nanpeng Shen: 2,022,610 HongShan Capital I, L.P.: 11,328,515 HongShan Capital Partners Fund I, L.P.: 1,301,720 HongShan Capital Principals Fund I, L.P.: 1,753,365 HongShan Capital Management I, L.P.: 14,383,600 HSG Holding Limited: 14,383,600 SNP China Enterprises Limited: 14,383,600 Neil Nanpeng Shen: 14,383,600 N Y Y Y Y Y Y HongShan Capital I, L.P. ("HONGSHAN CAPITAL I") /s/ Neil Nanpeng Shen 08/14/2025 HongShan Capital Partners Fund I, L.P. ("HONGSHAN CAPITAL PTRS I") /s/ Neil Nanpeng Shen 08/14/2025 HongShan Capital Principals Fund I, L.P. ("HONGSHAN CAPITAL PRIN I") /s/ Neil Nanpeng Shen 08/14/2025 HongShan Capital Management I, L.P. ("HONGSHAN CAPITAL MGMT I") /s/ Neil Nanpeng Shen 08/14/2025 HSG Holding Limited ("HSG HOLDING") /s/ Neil Nanpeng Shen 08/14/2025 SNP China Enterprises Limited ("SNP CHINA ENTERPRISES") /s/ Neil Nanpeng Shen 08/14/2025 Neil Nanpeng Shen ("NS") /s/ Neil Nanpeng Shen 08/14/2025