CNFinance Files Annual Report on Form 20-F for Fiscal Year 2020
Rhea-AI Summary
CNFinance Holdings Limited (NYSE: CNF) filed its annual report on Form 20-F for the fiscal year ending December 31, 2020, with the SEC on April 28, 2021. The report is available on the company's investor relations site and the SEC's website. CNFinance specializes in home equity loans in China, focusing on micro- and small-enterprise owners in Tier 1 and Tier 2 cities. The company partners with sales and trust firms to facilitate loans, utilizing a trust lending model designed for risk mitigation.
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GUANGZHOU, China, April 28, 2021 /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, 2020 with the U.S. Securities and Exchange Commission ("SEC") on April 28, 2021.
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.
The Company will provide a hard copy of its annual report, free of charge, to its shareholders and ADS holders upon request. Requests should be directed to the Company's IR Department at ir@cashchina.cn.
About CNFinance Holdings Limited
CNFinance Holdings Limited (NYSE: CNF) ("CNFinance" or the "Company) is a leading home equity loan service provider in China. CNFinance conducts business by collaborating with sales partners and trust company partners. Sales partners are responsible for recommending micro-and small-enterprise ("MSE") owners with financing needs to the Company and the Company introduces eligible borrowers to its trust company partners who will then conduct their own risk assessments and make credit decisions. The Company's primary target borrower segment is MSE owners who own real properties in Tier 1 and Tier 2 cities in China. The loans CNFinance facilitates are primarily funded through a trust lending model with its trust company partners who are well-established with sufficient funding sources and have licenses to engage in lending business nationwide. The Company's risk mitigation mechanism is embedded in the design of its loan products, supported by an integrated online and offline process focusing on risks of both borrowers and collateral and further enhanced by effective post-loan management procedures.
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SOURCE CNFinance Holdings Limited