Cnfinance Holdings Limited Stock Price, News & Analysis

CNFinance Holdings Limited (NYSE: CNF), a prominent home equity loan service provider in China, has filed its annual report on Form 20-F with the U.S. Securities and Exchange Commission for the fiscal year ending December 31, 2022. This report is accessible on the Company's investor relations website and the SEC's site. CNFinance specializes in connecting micro- and small-enterprise owners needing financing with licensed financial institutions through collaborative models involving sales partners and banks. The Company focuses on borrowers in Tier 1 and Tier 2 cities, employing a risk mitigation strategy bolstered by comprehensive online and offline processes for both borrower and collateral assessments, supplemented by effective post-loan management.

CNFinance Holdings Limited (NYSE: CNF) announced its fourth quarter and fiscal year 2022 financial results, reporting a total loan origination volume of RMB2.9 billion (US$425.9 million), down 6.5% from Q4 2021. Interest and fees income decreased by 1.2% to RMB454.5 million (US$65.9 million). However, net income surged to RMB30.5 million (US$4.4 million) compared to a net loss of RMB104.6 million in the same period a year earlier. For the entire fiscal year, total loan origination declined by 4.7% to RMB12.2 billion (US$1.8 billion), but net income increased by 111.3% to RMB137.8 million (US$20.0 million). The company aims to enhance efficiency and technology for future growth.

CNFinance Holdings Limited (NYSE: CNF), a leading home equity loan service provider in China, will announce its unaudited financial results for Q4 and the fiscal year ending December 31, 2022, before U.S. markets open on March 22, 2023. Management will host an earnings call at 8:00 AM ET to discuss the results. Investors can access the call through various international dial-in numbers. CNFinance primarily serves micro- and small-enterprise owners in Tier 1 and Tier 2 cities in China, collaborating with trust company partners to provide funding through a trust lending model.

CNFinance Holdings Limited (NYSE: CNF) reported its third quarter 2022 financial results, showing a total loan origination volume of RMB3.87 billion (US$544.2 million), up from RMB3.12 billion year-over-year. However, total interest and fees income fell by 8.8% to RMB416.9 million (US$58.6 million). Net income surged 142.1% to RMB46 million (US$6.6 million), with earnings per ADS at RMB0.70 (US$0.10), compared to RMB0.28 in Q3 2021. The company faced increased credit loss provisions and a rise in its non-performing loan (NPL) ratio to 10.8%.

CNFinance Holdings Limited (NYSE: CNF) will announce its unaudited financial results for Q3 2022 on November 22, 2022, before U.S. markets open. A conference call will be held at 8:00 AM ET that day, with dial-in numbers provided for participants in various regions. CNFinance, a home equity loan service provider in China, collaborates with sales and trust company partners to facilitate loans primarily for micro- and small-enterprise owners in Tier 1 and Tier 2 cities.