the development in will call, present on to the overall the the and information by discussing year then business various update I'd landscape Wang globalization Noah's conference agenda and of start macroeconomic report on session the for and performance like XXXX. our For Mr. segments Q&A of today's strategy; with financial then conclude
gyrations by far in confidence the other an during with drop expectations. rate decades. hike by quarter; extremely the environment. in an confidence market lockdown spanning investor second the words, -- most first ex and extreme complex during year Shanghai seen year In the almost was fed extraordinary macroeconomic our the XXXX and has caused drastic China entire Ukraine exceeded -- the we have rapid Year The Russian conflict global
the index its severely lockdown beginning twice since Chinese since level rates highest the economic reaches XXXX. reaching lockdowns activities rock restricted first outbreak bottom. confidence and Frequent outbreak household consumer COVIDXX savings level of highest hitting in of the the with the Domestically,
disrupted in Turning to to quantitative the asset over global have and easing impact market; a geopolitical crisis with global liquidities severely the the most coupled inflation, led surging of with chains since raging abundant subprime the to level of global the due inflation significant years XXXX, conflicts, in pandemic, commodity prolonged prices financial three seen past by global supply the we acute decades. have
Federal years. tightening In order inflation, to roles the Reserves of quickly measures led quantitative since assets, [ph] tame raise rate and equity huge fastest to worst The escalating central US sudden experiencing by and risk-free bond both led XX with XXXX. major their almost in the in banks at rate interest markets year the moved pace risk losses return
an with significant yield for and asset led decrease volatilities The to preference products in in investor and for high liquidities. higher lower demand shift a in sentiment increase
As of a gain Noah's Chinese clients, mission serving is clients needs wealth ever-changing our and and asset management understand into global the firm, insight focusing to on
our absolute clients growth tools management their our protect and of propose using reduce asset return-oriented upcoming adopt opportunities, to protection-before and asset allocations their diversify the recommended our to to uncertainties. clients order wealth market private in CIO of cross-cycle capital turbulent environment. in helped to published their the allocation at clients equity help portfolios We strategy, based beginning which against increase various In funds assessment effectively environment, to our the as in the protect funds, advising XXXX, a multi-strategy wealth growth macroeconomic capital them on volatility and we market and capture report
also hand The the safety worth of changes is increased. understanding becoming demand. and globalized number lens Chinese increasingly concept become the have wealth with the of security allocation undergoing aware one that through We undergoing the individuals and management need fundamental for
accumulated the Hong Kong markets, Australia, of and overseas segment. the International of establishments Canada in Since gradual has and the the office and decade the US, Noah gradual Singapore, foreign in including a XXXX, in experience opening capabilities
system overseas many operation clients and Chinese consisted we with building overseas serve the product In management team, In back abroad, wealth selection, which further Noah's order investment, staff, of already international in individuals our built based of we we serve products the past. on creating capabilities middle allocation professionals. new in top [ph] international office reshaped better an asset capabilities past, needs by our in of XXXX, and their living Hana overseas overseas market, Chinese to the the and have
by billion and financial COVID meeting cost travel company achieving of XX.X% lockdowns. revenues to XXXX, strategy, RMBX driven income improved margin net management our In performance XX.X%, efficient earnings solid to the guidance. annual from the non-GAAP Operating by net annual less non-GAAP proactively business activities our adjusting income due RMBX.X more delivered of and billion,
with clients decline products Wealth -- towards segment liquidity -- money billion, primarily leaning leading commissions. one-time funds fixed revenues to and management in as reported more up annual year-over-year, income leaning net deposits, term a market to due are down such higher towards fixed XX.X% RMBX.X
revenues instead was share their XX.X% chase higher wealth, Transaction with to Noah's down significant world MSCI in and with down of index S&PXXX to the through strategy average profits maintain capture for global volatilities wallet and down In value RMBXX.X XX.X%, was help clients' clients the billion pushing public and XX.X% index and markets, higher risk the index MSCI trying products the year-over-year. year, down with preserve XXXX profiles. the China XX.X%.
transaction fund systematic allocation institutional services, management targeting past, on capitalizing mid corporate lacked by and mutual small small the treasury management platform by treasury specialized fund and existing increased our year-over-year, Noah's In platform, needs. of from asset and specifically enterprises XX% value SaaS clients' Mutual the driven and launch corporate treasury capabilities.
to than year. to small institutional services platform small offered treasury -- mid who size transacted have We and accounts during corporate clients X,XXX more open X,XXX through the
in core increase client increase an with XX.X% particular; clients XX.X% of X,XXX, In always Diamond and been year-over-year, clients terms our clients, has objective. strategic of reached a number of growing Card base a Black key the Card Black in
reward interface improving asset branding, improving a of Over introduction and through enhanced our system. our year, enhancing allocation past the client's client star experience the integrity have client's system our we the rating client and of effectively our by
Furthermore, of potential became gained asset Black the recognize over us. clients clients, allocation the we through XXXX, and and XXXX, goal X,XXX clients above. lost Card we and devices, over referrals after to incident over existing recovered in In Through to account of X,XXX year. client that we clients strategies dormant new segmentation our back many or loss during X,XXX level our personalized have started turn better Diamond
of primary year-over-year. to a XX.X% year-over-year, of XXXX, down Management, net performance-based Asset capital due Through decline up subsidiary, Gopher income exit in RMBXXX.X and end by recorded by primarily segment management volatility RMBXXX opportunities the AUM revenues reached our the market. market million, in X.X% the limited XX% As caused billion
reached as the year-over-year, income management private overseas launch AUM RMBXX.X up the as well managed of to of hand, real billion, fundraisings estate our thanks equity On the and successful products. fixed and other US actively cash the funds, XX.X% overseas Gopher's dollar
account residential fundraising the on performances series team funds achieved The the two profit the with three assets, US separate two the launched excellent profitable of on development real have and investments of successful -- first series investment in XXXX. investment and multi-family second focusing estate half
unicorn provides for fundraising investment out, close a multiple cycle, of is profitable series their bottoming They of LPs tech believe to that through stage early has Valley current Silicon well. the second funds. a the XXXX achieved investing in which opportunity number team for exits half launched as during rare entry companies. focused The four VC&P economic very We
have we QX aiming overseas funds as enhance a also result, launched our Silicon further ecosystem in Gopher's fund of Valley XXXX, market. managed by a As well VC team the in to
tiny US fixed fixed XX.X% manner, developed continue management total a Noah. effectively XX.X% the our dollar year-on-year wallets products accounting with client's to and of in to By for cash US due AUA by comparing income of of share product rise AUA XXXX as of the launched yields our fed's overseas end cash overseas terms management the and XX.X% at and team rate grouped products yearend, income increasing In to hike, dollar our
terms In report voluntarily ESG, since of XXXX. sustainability has been publishing Noah
of management sustainable and ecosystem. XXX% very the We bringing Acknowledgement suppliers Noah's awareness chain received create of and also of for formulated ESG a to ESG conference, Letter and supplier initiated better a the first guidelines signatories the to our supply partners supplier
while X.X% X,XXX China, restore Noah helping stabilization, with XXXX, such Since local for in X,XXX down of about sand desert and slow cooperated projects, income Noah's Heart years tons in of planted achieving increasing and system over stabilization has land, organizations local has covering square million kilometers non-profit XXX over acres carbon in many the [ph] as [ph]. desertification of region [indiscernible] [ph] XXX,XXX trees Forest one
December Stock to dual Chinese eliminating completed successfully has the company that the of primary XXXX, also XX, announce status first the becoming potential Kong; stocks. ADR Kong Hong have listing conversion to the pleased both on on company management delisting Hong completely listing also in US I'm and the status to risk Exchange primary wealth
will dividend pay upcoming of creating the net evaluated XXXX. the this proposal shareholders income and of value At AGM cash be month, the XX.X% stable Meeting The board earlier a to approved our a manner at in dividend sustainable plan dividend Board has mid-June. committed out long-term our annual through We're in final to for RMBX non-GAAP for billion plan.
In qualities consensus, some perceptions future. possess to investment often and are sense XXXX, are consuming of to the and scarce Reaching costly. common returns beginning wealth of common unite. sense is which reflection consensus and the are and management Successful correct time
framework fine and world. requires possibly of the with consensus the in right the The understanding Bridging and wealth perception of the -- gap distinguish probability institutions. of of making between one's reality thought our XXXX, allocations Noah the Noah's decision from correlated positively core tuning of advices decision client's making Today clear. management The skills. is shapes our is this been other on what client's foundation solutions mostly process [ph] CIO values, has need which
at around requires for but to tremendous high to our are always the world, X% achieving in committed also capturing the hard least Chinese the a has it. maintain clients a for industry worth work becoming share management towards name goal us market of principle by founding net wealth We leading and room growth, that
the Finally, gain the XXXX. we hope of will that of XXXX become pain
you, CFO, you of give to detailed to this Pan, like to pass I'd our Mr. Thank a Now, year's results. all. walkthrough
