CNFinance (NYSE: CNF) CEO discloses large direct options and indirect stakes

Rhea-AI Filing Summary

CNFinance Holdings Ltd. Chief Executive Officer Zhai Bin filed a Form 3 reporting his initial ownership in the company. He directly holds stock options over 40,000,000 ordinary shares with an exercise price of $0.0725 per share, expiring on December 31, 2027. He is also indirectly associated with 243,949,380 Class A ordinary shares held by Kylin Investment Holdings Limited, a British Virgin Islands company in which he owns 50% and may direct voting and disposition of those shares.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Zhai Bin

Role Chief Executive Officer

Type	Security	Shares	Price	Value
holding	Stock Option (Right to Buy)	--	--	--
holding	Class A Ordinary Shares	--	--	--

Holdings After Transaction: Stock Option (Right to Buy) — 40,000,000 shares (Direct); Class A Ordinary Shares — 243,949,380 shares (Indirect, By Kylin Investment Holdings Limited)

Footnotes (1)

1. Kylin Investment Holdings Limited, or Kylin Investment, is a company incorporated in the British Virgin Islands. 50% of the total outstanding shares of Kylin Investment are held by the Reporting Person. The Reporting Person may be deemed to have the power to direct voting and disposition of the 243,949,380 of the Class A ordinary shares of the Issuer held by Kylin Investment. The exercise price of the stock options is RMB0.5 per share. For convenience only, this amount has been translated into U.S. dollars at the rate of RMB6.8961 to US$1.00, the noon buying rate in effect on March 13, 2026, as set forth in the H.10 statistical release of the Federal Reserve Board.

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SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Zhai Bin

(Last) (First) (Middle)

22F, SOUTHERN FINANCE PLAZA

NO. 7 3RD CHUNRONG ROAD, TIANHE DISTRICT

(Street)

GUANGZHOU 510000

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
CNFinance Holdings Ltd. [ CNF ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A Ordinary Shares	243,949,380(1)	I	By Kylin Investment Holdings Limited

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	12/31/2019	12/31/2027	Ordinary Shares	40,000,000	$0.0725(2)	D

Explanation of Responses:

1. Kylin Investment Holdings Limited, or Kylin Investment, is a company incorporated in the British Virgin Islands. 50% of the total outstanding shares of Kylin Investment are held by the Reporting Person. The Reporting Person may be deemed to have the power to direct voting and disposition of the 243,949,380 of the Class A ordinary shares of the Issuer held by Kylin Investment.

2. The exercise price of the stock options is RMB0.5 per share. For convenience only, this amount has been translated into U.S. dollars at the rate of RMB6.8961 to US$1.00, the noon buying rate in effect on March 13, 2026, as set forth in the H.10 statistical release of the Federal Reserve Board.

	/s/ Zhai Bin	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

FAQ

What does CNFinance (CNF) CEO Zhai Bin report in this Form 3?

He reports his initial ownership in CNFinance, including stock options over 40,000,000 ordinary shares and indirect exposure to 243,949,380 Class A ordinary shares via Kylin Investment Holdings Limited, where he owns 50% and may direct voting and disposition.

How many CNFinance shares are tied to Zhai Bin’s stock options?

The Form 3 shows stock options over 40,000,000 ordinary shares. These options have an exercise price of $0.0725 per share and expire on December 31, 2027, giving long-dated potential equity exposure if exercised in the future.

What is the exercise price of Zhai Bin’s CNFinance stock options?

The exercise price is RMB0.5 per share, translated for convenience to $0.0725 per share using an exchange rate of RMB6.8961 to US$1.00, based on the Federal Reserve’s H.10 statistical release for March 13, 2026.

How is Kylin Investment Holdings Limited related to CNFinance CEO Zhai Bin?

Kylin Investment Holdings Limited is a British Virgin Islands company in which Zhai Bin holds 50% of the outstanding shares. Through this stake, he may be deemed to direct voting and disposition of 243,949,380 CNFinance Class A ordinary shares held by Kylin Investment.

Are the CNFinance shares held through Kylin Investment direct or indirect for Zhai Bin?

The Form 3 classifies the 243,949,380 Class A ordinary shares held by Kylin Investment as indirect ownership for Zhai Bin. His connection arises from owning 50% of Kylin Investment and potentially directing voting and disposition of those shares.

Does this CNFinance Form 3 show any recent buying or selling by Zhai Bin?

No specific buys or sells are identified. The entries are reported as holdings, listing Zhai Bin’s existing stock options and indirect Class A ordinary share position through Kylin Investment, rather than new purchase or sale transactions.