Dear Noah Clients:
We cordially invite you to the "Co-Generating the Future with AI" 2025 Noah Black Diamond Annual Meeting. Please contact your exclusive wealth advisor to reserve your seat:

📍 Shanghai · Diamond Annual Meeting:
November 15–20 (Saturday–Thursday)

📍 Macao · Black Card Annual Meeting:
December 7–11 (Sunday–Thursday)

For four years, the Noah Holdings CIO Office has released ten consecutive reports. From "Protect First, Then Grow" to "Tech Deflation and Overall Optimization," one important theme has remained consistent: cognition shapes allocation, and judgment safeguards wealth.

·In 2022, amid lockdowns, we saw the beginning of "passive globalization."

·In 2023, amid volatility, we practiced "antifragility."

·In 2024, we "defined the present with the future."

·In 2025, we continue to emphasize the disruptive power of AI, embracing "technology-driven deflation."

This four-year intellectual evolution is not just the culmination of the CIO's research; it embodies a profound journey of cognitive evolution for global Chinese high-net-worth families.

The development of AI continues to amplify the power of cognition. It is not only changing industries but profoundly influencing every individual's decision-making process and wealth philosophy. For Chinese wealth managers, understanding AI's disruptive nature and identifying the new investment opportunities it creates has become essential to securing tomorrow's prosperity.

Therefore, the 2025 Noah client annual meeting season is themed "Co-Generating the Future with AI." It brings together the world's most cutting-edge AI perspectives and wealth philosophies to address the core concern of global Chinese wealth managers: How will AI redefine the future of wealth management?

We cordially invite you to the 2025 Noah Black Diamond Annual Meeting, to walk with AI and co-create the future.

Continuously Disrupting Cognition: AI Accelerates 2025's Transformation

Every technological breakthrough tends to reshape investment paradigms. In 2025, AI transcends its origins as a technology trend to become the fundamental framework for understanding investment and industry dynamics.

DeepSeek's emergence earlier this year exemplified this shift. Its open-source strategy and highly efficient model challenged the conventional wisdom that AI supremacy requires massive capital and computing resources. It serves as a reminder to investors: The focus of AI competition is shifting from "who invests more" to "who can be more efficient and grounded in practical application."

Meanwhile, the battle for computing power has become a key theme in today's global technology landscape. Nvidia maintains its dominant position in GPUs and AI platforms, while AMD, Broadcom, and cloud vendors are breaking through with heterogeneous computing and edge inference. The convergence of models, hardware, networks, and platforms is creating a new arena of systems-level competition.

The divergence in model roadmaps has triggered a contest between open and closed systems. OpenAI, Anthropic, and others advocate for high-performance closed-source systems, while DeepSeek and the open-source community build influence through collaborative ecosystems. Capital, ecosystem, and "application power" are now deciding who shapes the narrative of the AI era.

AI has evolved from a "frontier proposition" in tech circles to the "underlying logic" of the investment world. For wealth managers, understanding AI is not just a "cognitive upgrade"; it is the key to grasping the next wave of growth.

Buffett, Dalio, Goldman Sachs: 

AI Is Changing the Rules of the Game

At this year's shareholder meeting, Buffett noted that AI will become a tool that changes the game overnight.Ray Dalio has not only repeatedly stated AI's importance but also said: "Artificial intelligence was invented long before we started talking about it. I have long been using artificial intelligence to help make decisions more effectively."

A growing number of heavyweight voices are emphasizing AI's critical role, both now and in the future. For example, Goldman Sachs Research emphasizes that AI is fundamentally rewriting market dynamics. Their China equity team projects that widespread AI adoption could enhance Chinese equity returns by 2.5% annually over the coming decade. Goldman Sachs also proposed three angles for how AI can enhance corporate profitability: improving productivity, saving costs, and exploring new revenue opportunities.

AI is not just refreshing cognition; it is comprehensively reshaping industrial and capital ecosystems. In 2025, virtually all industries and all companies will inevitably be "walking with" AI.

Focusing on AI: 

The Noah Black Diamond Annual Meeting Is Here for You

AI is accelerating the transformation of the global industrial landscape. Noah is redefining the future of wealth management through AI, with the goal of helping global Chinese high-net-worth families better preserve, grow, and pass on their wealth. As one of the preferred wealth management platforms for global Chinese, Noah is also the world's first Chinese wealth management institution to integrate "Human Wealth Wisdom + AI Smart Co-pilot."

We utilize a "Carbon-based Advisor × Silicon-based Wealth Partner" dual-track model to jointly forge a "New Paradigm of Wealth Management" exclusively for global Chinese. Our AI RM, iARK, plays the vital role of "co-pilot" in this new generation of wealth management.

At this Black Diamond Annual Meeting, the iARK AI will accompany you throughout the entire journey, unlocking a completely new conference experience.

AI × Wealth Management

Frontier Topics

Leading global financial institutions, renowned investors, and thinkers will gather for an in-depth dialogue on how AI is reshaping wealth management. Noah executives will also share their exclusive perspective on "How AI Drives Strategic Upgrades."

iARK AI "Always With You"

Immersive Interaction

Experience immersive AI interactions and intuitively feel the power of AI in wealth management. AI brings not only efficiency but also a new way to experience a conference and gain wealth insights.

More excitement will be revealed on-site! "Co-Generating the Future with AI" is not just the prelude to an annual gala; it marks Noah's pioneering step into the "New Era of AI-Driven Wealth Management."

We look forward to seeing you at the summit, walking with the wise and with AI, to make wealth smarter.

📍 Shanghai · Diamond Annual Meeting | November 15–20 (Saturday–Thursday)

📍 Macao · Black Card Annual Meeting | December 7–11 (Sunday–Thursday)

Please contact your exclusive wealth advisor, lock in your distinguished seat, and step into the new era of AI-driven wealth with us.