CNFinance Files Annual Report on Form 20-F for Fiscal Year 2022

Rhea-AI Summary

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.

Positive

• Implementation of a risk mitigation mechanism embedded in loan product design.
• Focus on lending to micro- and small-enterprise owners in major Chinese cities.

Negative

• None.

GUANGZHOU, China, April 25, 2023 /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, 2022 with the U.S. Securities and Exchange Commission ("SEC") on April 25, 2023.

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, through its operating subsidiaries in China, conducts business by connecting demands and supplies through collaborating with sales partners and trust companies under the trust lending model, and local channel partners and commercial banks under the commercial bank partnership model. Sales partners and local channel partners are responsible for recommending micro- and small-enterprise ("MSE") owners with financing needs to the Company and the Company introduces eligible borrowers to licensed financial institutions with sufficient funding sources including trust companies and commercial banks 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 and other major cities in China. 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.

For more information, please contact:

CNFinance
E-mail: ir@cashchina.cn

View original content:https://www.prnewswire.com/news-releases/cnfinance-files-annual-report-on-form-20-f-for-fiscal-year-2022-301807465.html

SOURCE CNFinance Holdings Limited

FAQ

What did CNFinance Holdings announce on April 25, 2023?

On April 25, 2023, CNFinance Holdings announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2022.

Where can I access CNFinance's annual report?

CNFinance's annual report can be accessed on the Company's investor relations website and the U.S. Securities and Exchange Commission's website.

What is CNFinance's main business focus?

CNFinance primarily focuses on providing home equity loans to micro- and small-enterprise owners in Tier 1 and Tier 2 cities in China.

How does CNFinance manage risks in their loan products?

CNFinance employs a risk mitigation mechanism integrated into their loan product design, supported by thorough assessments of both borrowers and collateral.