[FORM F-6 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 FOR AMERICAN DEPOSITARY SHARES EVIDENCED BY AMERICAN DEPOSITARY RECEIPTS NOAH HOLDINGS LIMITED (Exact name of issuer of deposited securities as specified in its charter) [N/A] The Cayman Islands ) (Jurisdiction of incorporation or organization of issuer CITIBANK, N.A. ) (Exact name of depositary as specified in its charter 399 Park] [DEPOSIT AGREEMENT by and among NOAH HOLDINGS LIMITED AND CITIBANK, N.A., as Depositary, AND THE HOLDERS AND BENEFICIAL OWNERS OF AMERICAN DEPOSITARY SHARES ISSUED HEREUNDER [DATE] Dated as of DEPOSIT AGREEMENT DEPOSIT AGREEMENT [DATE] W I T N E S S E T H T H A T WHEREAS WHEREAS WHEREAS WHEREAS WHEREAS, NOW, THEREFORE ARTICLE I DEFINITIONS All capitalized] [[LETTERHEAD OF PBWT] October 27, 2010 Citibank, N.A. – ADR Department 388 Greenwich Street New York, New York 10013 Ladies and Gentlemen: Registration Statement SEC Securities Act ADSs Company Deposit Agreement ADR(s) Shares We refer to the Registration Statement on Form F-6 (the “ IRS Assuming that, at the time of their issuance, the Registration Statement will have been declared]

[FORM F-6 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 FOR AMERICAN DEPOSITARY SHARES EVIDENCED BY AMERICAN DEPOSITARY RECEIPTS NOAHS LIMITED (Exact name of issuer of deposited securitiesecified in its charter) [N/A] Theyman Islands ) (Jurisdiction oforporation or organization of issuer CITIBANK, ) (Exact name of depositaryecified in its charter] [DEPOSITREEMENT by and among NOAHS LIMITED AND CITIBANK, Depositary, AND THE HOLDERS AND BENEFICIAL OWNERS OF AMERICAN DEPOSITARY SHARES ISSUED HEREUNDER [DATE]ted of DEPOSITREEMENT DEPOSITREEMENT [DATE] W I T N E S S E T HT H A T WHEREAS WHEREAS WHEREAS WHEREAS] [[LETTERHEAD OF PBWT] October 27, 2010 Citibank,R Department 388 Greenwich Street New York, New York 10013 Ladies and Gentlemen:suming that, at the time of their issuance, the Registration Statement will have been declared effective by the SEC, the Depositreement will have been duly executed and delivered, and the Shares will have been legally issued, we]