GUANGZHOU, China, May 27, 2024 /PRNewswire/ -- CNFinance Holdings Limited (NYSE: CNF) ("CNFinance" or the "Company"), a leading home equity loan service provider in China, today announced its board of directors has increased its share repurchase authorization to US$30.0 million, expanding the USD$20.0 million share repurchase authorization granted in March 2022, commencing on May 27, 2024. In March 2022, the Company's board of directors authorized a share repurchase program under which the Company may repur ...

Core Viewpoint - CNFinance Holdings Limited will hold its annual general meeting of shareholders on June 7, 2024, with no proposals for shareholder approval, serving as an open forum for discussions with management [1]. Group 1: Company Overview - CNFinance Holdings Limited is a leading home equity loan service provider in China, focusing on connecting micro- and small-enterprise owners with financing needs to licensed financial institutions [3]. - The company operates through a trust lending model and a commercial bank partnership model, collaborating with sales partners and local channel partners to recommend eligible borrowers [3]. - The primary target borrower segment includes MSE owners who own real properties in Tier 1 and Tier 2 cities and other major cities in China [3]. - CNFinance's risk mitigation mechanism is integrated into its loan products, supported by an online and offline process that focuses on borrower and collateral risks, along with effective post-loan management procedures [3]. Group 2: AGM Details - The annual general meeting will take place at 44/F, Tower G, No. 16 Zhujiang Dong Road, Tianhe District, Guangzhou City, Guangdong Province, on June 7, 2024, from 9:30 a.m. to 11:00 a.m. (Beijing Time) [1]. - The record date for determining shareholders entitled to attend the AGM is set for May 8, 2024 [1][2]. - Both holders of ordinary shares and beneficial owners of American Depositary Shares (ADSs) are welcome to attend the AGM in person [2].

Company Information - CNFinance Holdings Limited filed its annual report on Form 20-F for the fiscal year 2023 on April 26, 2024[2] - The company is headquartered in Guangzhou City, Guangdong Province, People's Republic of China[1] Regulatory Compliance - The report is submitted under the Securities Exchange Act of 1934, indicating compliance with regulatory requirements[5]

GUANGZHOU, China, April 26, 2024 /PRNewswire/ -- CNFinance Holdings Limited (NYSE: CNF) ("CNFinance" or the "Company"), a leading home equity loan service provider in China, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2023 with the U.S. Securities and Exchange Commission ("SEC") on April 26, 2024. The annual report can be accessed on the Company's investor relations website at http://ir.cashchina.cn as well as the SEC's website at http://www.sec.gov. T ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) ...

CNFinance Holdings Limited (NYSE:CNF) Q4 2023 Results Conference Call March 28, 2024 8:00 AM ET Company Participants Matthew Lou - Investor Relations Manager Jun Qian - VP & Director Jing Li - Acting CFO, Assistant President and Head of Department of Finance & Internal Control Conference Call Participants William Gregozeski - Greenridge Global Operator Hello, and welcome to the CNFinance Fourth Quarter and Fiscal Year of 2023 Financial Results Conference Call. All participants will be in a listen-only mode. ...

Core Viewpoint - CNFinance Holdings Limited, a leading home equity loan service provider in China, is set to report its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2023, on March 28, 2024, before U.S. markets open [1]. Company Overview - CNFinance operates by connecting demands and supplies through collaboration with sales partners and trust companies under a trust lending model, as well as with local channel partners and commercial banks under a commercial bank partnership model [2]. - The primary target borrower segment for CNFinance consists of micro- and small-enterprise (MSE) owners who own real properties in Tier 1 and Tier 2 cities and other major cities in China [2]. - The company's risk mitigation mechanism is integrated into its loan products, focusing on both borrower and collateral risks, and is further enhanced by effective post-loan management procedures [2].

CNFinance Holdings Limited (NYSE:CNF) Q3 2023 Earnings Conference Call November 29, 2023 8:00 AM ET Company Participants Jun Qian - Director and Vice President Jing Li - Acting Chief Financial Officer, Assistant President Conference Call Participants William Gregozeski - Greenridge Global Operator Good day, and welcome to the CNFinance Holdings Limited Third Quarter of 2023 Financial Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, th ...

Financial Data and Key Metrics Changes - In Q2 2023, total loan origination volume was RMB4.5 billion, a year-on-year increase of 45% [5] - Total interest income for Q2 2023 was RMB430 million, representing a year-on-year increase of 5% [5] - Net income for Q2 2023 was RMB44 million, a year-on-year increase of 142% [5] - For the first half of 2023, total loans originated was RMB8 billion, a year-on-year increase of 43% [6] - Total interest income for the first half of 2023 was RMB885 million, a year-on-year increase of 7% [19] - Net income for the first half of 2023 was RMB93 million, a year-on-year growth of 52% [23] Business Line Data and Key Metrics Changes - Under the commercial bank partnership model, loans originated in the first half of 2023 accounted for 40% of overall loan origination volume, totaling RMB3 billion [6] - The delinquency rate of loans originated decreased from 18% at the end of 2022 to approximately 15% as of June 30, 2023 [8] - The number of transactions under the trust lending model was 7,734 in the first half of 2023, while under the commercial bank partnership it was 4,074 [28] Market Data and Key Metrics Changes - Overall loan demand from SMEs has decreased, with new loans in July 2023 at RMB528 billion, down from RMB270 billion year-on-year [27] - New loans issued to the real economy in July 2023 were RMB36 billion, a decrease of RMB389 billion compared to the same period last year [27] Company Strategy and Development Direction - The company aims to focus on growth by improving product mix and launching differentiated products with low interest rates [9] - Plans to shift business to core areas in first-tier and new first-tier cities to optimize asset quality [10] - Investment in technology to enhance borrower evaluation capabilities and collaboration with fintech companies is a priority [11] Management Comments on Operating Environment and Future Outlook - Management acknowledges uncertainties in China's economy and the downward trend in the real estate market but sees opportunities for growth [9] - The company maintains its target of RMB20 billion in loan origination for the year, emphasizing high-quality development [31] Other Important Information - As of June 30, 2023, cash and cash equivalents were RMB1.9 billion, an increase from RMB1.8 billion at the end of 2022 [24] - The NPL ratio increased from 1.1% at the end of 2022 to 1.4% as of June 30, 2023 [24] Q&A Session Summary Question: Update on SME loan demand - Management noted a decrease in overall loan demand from SMEs, with specific figures indicating a decline in new loans issued [27] Question: Origination growth outlook - Management confirmed the target of RMB20 billion in loan origination remains intact despite economic uncertainties [31] Question: Sales partners' loan interest changes - A decrease in interest on loans to sales partners is viewed positively, indicating improved asset quality and fewer defaults [33]

Loan Origination and Borrowers - Total loan origination volume was RMB4.5 billion (US$626.8 million) in Q2 2023, a 45.2% increase from RMB3.1 billion in Q2 2022[1] - Total number of active borrowers reached 25,657 in Q2 2023, up 18.5% from 21,649 in Q2 2022[1] - Total loan origination volume for the first half of 2023 was RMB8.0 billion (US$1.1 billion), a 42.9% increase from RMB5.6 billion in the same period of 2022[3] Financial Performance - Net income increased by 142.0% to RMB43.8 million (US$6.0 million) in Q2 2023 from RMB18.1 million in Q2 2022[2] - Basic earnings per ADS were RMB0.64 (US$0.09) in Q2 2023, compared to RMB0.27 in Q2 2022[2] - Net income increased by 52.1% to RMB93.1 million (US$12.8 million) in the first half of 2023, compared to RMB61.2 million in the same period of 2022[26] - Basic earnings per ADS and diluted earnings per ADS were RMB1.36 (US$0.19) and RMB1.22 (US$0.17), respectively, in the first half of 2023, compared to RMB0.89 and RMB0.80 in the same period of 2022[26] Income and Expenses - Total interest and fees income for the first half of 2023 was RMB884.5 million (US$122.0 million), a 6.9% increase from RMB827.1 million in the same period of 2022[3] - Total operating expenses increased by 4.6% to RMB179.0 million (US$24.7 million) in the first half of 2023 from RMB171.2 million in the same period of 2022[24] - Employee compensation and benefits increased by 3.7% to RMB95.0 million (US$13.1 million) in the first half of 2023 from RMB91.6 million in the same period of 2022[24] - Other expenses increased by 13.7% to RMB59.8 million (US$8.2 million) in the first half of 2023 from RMB52.6 million in the same period of 2022[26] Credit Losses and Risk Management - Provision for credit losses decreased by 25.7% to RMB50.8 million (US$7.0 million) in Q2 2023 from RMB68.4 million in Q2 2022, reflecting improved credit risk control[11] - Provision for credit losses increased by 136.1% to RMB129.6 million (US$17.9 million) in the first half of 2023 from RMB54.9 million in the same period of 2022[22] - The delinquency ratio for loans decreased from 18.3% as of December 31, 2022, to 15.2% as of June 30, 2023[27] - The NPL ratio for loans increased from 1.1% as of December 31, 2022, to 1.4% as of June 30, 2023[28] Cash and Equity - Cash and cash equivalents and restricted cash amounted to RMB1.9 billion (US$0.3 billion) as of June 30, 2023, compared to RMB1.8 billion as of December 31, 2022[27] - Total liabilities and shareholders' equity stood at RMB 14,481,920 thousand as of June 30, 2023, compared to RMB 14,474,698 thousand at the end of 2022[41] Share Repurchase and Other Financial Metrics - The company repurchased approximately US$14.8 million worth of its ADSs under the share repurchase program as of June 30, 2023[30] - Total interest and fees income increased from RMB 409,832 thousand in Q2 2022 to RMB 431,325 thousand in Q2 2023, representing a growth of 5.3%[44] - Net income rose significantly from RMB 18,115 thousand in Q2 2022 to RMB 43,780 thousand in Q2 2023, marking an increase of 141.5%[44] - Earnings per ADS increased from 0.27 in Q2 2022 to 0.64 in Q2 2023, reflecting a growth of 137%[44] - Total operating expenses increased from RMB 91,381 thousand in Q2 2022 to RMB 98,702 thousand in Q2 2023, an increase of 8.4%[44] - Net interest and fees income after collaboration cost and provision for credit losses improved from RMB 78,254 thousand in Q2 2022 to RMB 144,830 thousand in Q2 2023, a growth of 85%[44] - Total comprehensive income attributable to ordinary shareholders increased from RMB 29,222 thousand in Q2 2022 to RMB 52,664 thousand in Q2 2023, a rise of 80%[44] - The company reported a net loss on sales of loans of RMB 3,293 thousand in Q2 2023, a slight decrease from RMB 3,440 thousand in Q2 2022[44] - Interest expenses on interest-bearing borrowings decreased from RMB 187,304 thousand in Q2 2022 to RMB 181,687 thousand in Q2 2023, a reduction of 3.4%[44] - The provision for credit losses decreased from RMB 68,416 thousand in Q2 2022 to RMB 50,820 thousand in Q2 2023, a decline of 25.8%[44] Strategic Goals - The company aims to achieve 'high-quality development' by expanding its business and managing overall risk while designing new products and investing in technology[6]