Noah Holdings Limited announced that effective as of May 1, 2015, Mr. Shuang Chen has resigned from his position as an independent director of the board of directors of the Company and a member of the audit committee of the Board (the Audit Committee), along with all his positions on the other committees of the Board, and that Ms. May Yihong Wu has resigned as the chairman of the Audit Committee, although she will remain as a member of the Audit Committee and retain her other positions on the other committees of the Board. Also effective as of May 1, 2015, the Company has appointed Mr. Tze-Kaing Yang as an independent director and the chairperson of the Audit Committee. Mr. Tze-Kaing Yang is currently the Chairman and CEO of Yangtze Associates.

He also serves as the supervisor of ASUSTeK Computer Inc., the director of RITEK Corp., the non-executive director of Natural Beauty Bio-Technology Limited and the independent director of ASRock Inc. and DBS Bank (Taiwan) Ltd. Mr. Yang was previously the Political Deputy Minister of Ministry of Finance in Taiwan from 2003 through 2004, managing director and acting chairman of Bank of Taiwan from 2003 through 2004, president of China Development Industrial Bank, independent director of the Taiwan Stock Exchange, AU Optronics Corporation and Vanguard International Semiconductor Corporation. He was also the executive secretary of National Development Fund of Taiwan.