Cnfinance Holdings Limited Stock Price, News & Analysis

CNFinance Holdings Limited (NYSE: CNF) will hold its annual general meeting (AGM) on June 7, 2022, in Guangzhou, China. The meeting will not include any proposals for shareholder approval but will serve as a forum for shareholders to engage with management. The record date to determine shareholders entitled to notice of the AGM is May 9, 2022. CNFinance, a major home equity loan service provider in China, operates by linking micro- and small-enterprise owners with trust company partners for loan facilitation, primarily in Tier 1 and Tier 2 cities.

CNFinance Holdings Limited (NYSE: CNF), a top home equity loan service provider in China, has filed its annual report on Form 20-F for the fiscal year ended December 31, 2021, with the SEC on April 27, 2022. This report is accessible via the Company's investor relations website and the SEC's site. Shareholders can request a hard copy of the report at no cost. The Company focuses on micro- and small-enterprise owners in major Chinese cities, utilizing a trust lending model with established partners to ensure effective risk management.

CNFinance Holdings Limited (NYSE: CNF) released its unaudited financial results for Q4 and fiscal year 2021, reporting a net loss of RMB104.9 million (US$16.5 million) in Q4, a decline from a net income of RMB105.3 million in Q4 2020. Total loan origination volume increased by 14.8% year-over-year to RMB3.1 billion (US$480.1 million) in Q4 2021, while fiscal year origination reached RMB12.8 billion (US$2.0 billion), a 45.5% increase. However, total interest and fees income decreased by 3.4% for the fiscal year, totaling RMB1,782.4 million (US$279.7 million).

CNFinance Holdings Limited (NYSE: CNF) announced a share repurchase program, allowing the company to buy back up to US$20 million of its American depositary shares (ADSs) over the next 12 months. The repurchases will occur in the open market and could vary based on price, trading volume, and market conditions. The program aims to enhance shareholder value and demonstrates a commitment to returning capital, funded through existing cash balances. The Board will periodically review the program, adjusting its terms as necessary.

CNFinance Holdings Limited (NYSE: CNF) will release its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2021, on March 18, 2022, before U.S. markets open. The company will also host an earnings conference call at 8:00 AM ET on the same day. CNFinance, a primary provider of home equity loans in China, targets micro-and small-enterprise owners with properties in Tier 1 and Tier 2 cities. The company partners with trust companies for loan funding and has a robust risk mitigation strategy in place.

CNFinance Holdings Limited (NYSE: CNF) announced the retirement of Mr. Paul Wolansky from its Board of Directors, effective January 11, 2022. Wolansky has been a director since 2001. The company appointed Mr. Jun Qian, who has over 20 years in China's loan industry and has been with CNFinance since 2001, as a new director. Qian has served as Vice President since 2010 and brings extensive management skills and industry experience. The leadership transition aims to strengthen CNFinance's operational capacity in the home equity loan sector.

CNFinance Holdings Limited (NYSE: CNF) announced its third-quarter 2021 results, reporting a loan origination volume of RMB3,117.5 million (US$480.7 million), up from RMB3,093.4 million year-over-year. However, net income dropped 62.1% to RMB19.0 million (US$2.9 million), and earnings per ADS fell to RMB0.28 (US$0.04) from RMB0.73 in Q3 2020. Despite an increase in total outstanding loan principal to RMB11.1 billion, total interest and fees income decreased by 4.0%. The company forecasts a net loss between RMB80 million and RMB100 million for Q4 2021.

CNFinance Holdings Limited (NYSE: CNF), a prominent home equity loan service provider in China, will announce its unaudited financial results for the third quarter ending September 30, 2021, on November 23, 2021, before U.S. market opens. The management will host an earnings conference call at 8:00 AM ET on the same day. The company targets micro-and small-enterprise owners for its loans, primarily funded through a trust lending model, emphasizing risk mitigation and strong post-loan management.

CNFinance Holdings Limited (NYSE: CNF) reported significant growth in its Q2 and H1 2021 financial results. Total loan origination volume surged 103.8% YoY to RMB3,824.5 million (US$592.0 million) in Q2 2021, with a net income of RMB65.2 million (US$10.1 million), up 158.7% YoY. However, total interest and fees income slightly decreased by 0.6% to RMB451.5 million (US$69.9 million). In H1 2021, net income reached RMB150.9 million (US$23.4 million) compared to a net loss of RMB40.6 million in H1 2020. The company anticipates net income between RMB30 and RMB50 million for Q3 2021.