SCHEDULE 13G

(Rule 13d-102)

Under the Securities Exchange Act of 1934
(Amendment No. 9)*

(Name of Issuer)

(Title of Class of Securities)

(CUSIP Number)

(Date of Event Which Requires Filing of This Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however, see the Notes).

1                   Two American depositary shares represent one ordinary share.

2                   This CUSIP number applies to the Issuer’s American depositary shares.

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Item 1(a).                  NAME OF ISSUER

Noah Holdings Limited

Item 1(b).                  ADDRESS OF ISSUER’S PRINCIPAL EXECUTIVE OFFICES

No. 1687 Changyang Road, Changyang Valley, Building 2, Shanghai 200090, The People’s Republic of China

Item 2(a).                  NAME OF PERSON FILING

Chia-Yue Chang

Jia Investment Co., Ltd.

Item 2(b).                  ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE

For each of Chia-Yue Chang and Jia Investment Co., Ltd.:

Building 2, 1687 Changyang Road, Yangpu District, Shanghai, P.R. China, 200090

Item 2(c).                   CITIZENSHIP

Ms. Chia-Yue Chang is a citizen of Republic of China (Taiwan).

Jia Investment Co., Ltd. is a British Virgin Islands company.

Item 2(d).                  TITLE OF CLASS OF SECURITIES

Ordinary shares, par value US$0.0005 per share

Item 2(e).                   CUSIP No.

65487X102.

This CUSIP number applies to the issuer’s American depositary shares (“ADS”); Two ADSs represent one ordinary share.

Item 3.                                 IF THIS STATEMENT IS FILED PURSUANT TO §§ 240.13D-1(B), OR 240.13D-2(B) OR (C), CHECK WHETHER THE PERSON FILING IS A:

Not applicable.

Item 4.                                 OWNERSHIP

The information required by Items 4(a) - (c) is set forth in Rows 5-11 of the cover page hereto and is incorporated herein by reference.

As of December 31, 2020, Jia Investment Co., Ltd. is the record owner of 2,000,000 ordinary shares of the Issuer. Jia Investment Co., Ltd. also owns 23,691 ordinary shares  in the form of restricted ADS and has the right to acquire 36,891 ordinary shares upon exercise of options under the share incentive plan of the issuer, and Jia Investment Co., Ltd. also holds 1,000 ordinary shares in the form of ADS purchased from secondary market.

Jia Investment Co., Ltd. is wholly owned and controlled by Ms. Chia-Yue Chang. Pursuant to Section 13(d) of the Securities Exchange Act of 1934, Ms. Chia-Yue Chang may be deemed to beneficially own all of the shares held by Jia Investment Co., Ltd.

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Item 5.                                 OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

Not applicable.

Item 6.                                 OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON

Not applicable.

Item 7.                                 IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY OR CONTROL PERSON

Not applicable.

Item 8.                                 IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

Not applicable.

Item 9.                                 NOTICE OF DISSOLUTION OF GROUP

Not applicable.

Item 10.                          CERTIFICATION

Not applicable.

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SIGNATURES

After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

DATED: January 27, 2021

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* previously filed

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