← CNFinance Holdings Ltd.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||||
| Current assets: | ||||||||||
| Cash and Cash Equivalents, at Carrying Value | $1.2b | $3.2b | $1.7b | $2.0b | $2.2b | $1.8b | $2.0b | $1.2b | $338.2m | |
| Short-term Investments | — | — | — | — | — | — | $146.5m | $38.7m | $28.4m | |
| Cash, cash equivalents and restricted cash (including amounts of the consolidated VIEs of RMB1,024,148,680 and RMB267,290,165 as of December 31, 2024 and 2025, respectively) | — | $3.2b | $1.7b | $2.0b | $2.2b | $1.8b | $2.0b | $1.2b | $338.2m | |
| Loans principal, interest and financing service fee receivables (including amounts of the consolidated VIEs of RMB6,086,217,494 and RMB1,013,029,316 as of December 31, 2024 and 2025, respectively) | — | — | $11.4b | $9.7b | $9.4b | $9.5b | $9.8b | $7.5b | $2.5b | |
| Net loans principal, interest and financing service fee receivables (including amounts of the consolidated VIEs of RMB5,494,698,105 and RMB825,783,160 as of December 31, 2024 and 2025, respectively) | — | — | $10.3b | $9.0b | $8.4b | $8.7b | $9.0b | $6.9b | $2.2b | |
| Accounts Receivable | — | — | — | — | — | $82.4m | $340.4m | $197.9m | $82.5m | |
| Cash And Cash Equivalents | — | — | — | — | — | $2.2b | $2.6b | $1.8b | $791.9m | |
| Other Receivables | — | — | — | — | — | $169.0m | $231.8m | $805.3m | $1.2b | |
| Other Short Term Investments | — | — | — | — | — | $244.3m | $146.5m | $38.7m | $28.4m | |
| Prepaid Assets | — | — | — | — | — | $126.0m | $278.3m | $111.1m | $82.4m | |
| Inventory, Net | — | — | — | — | — | $1.7b | $1.8b | — | — | |
| Property, Plant and Equipment, Net | $22.5m | $19.2m | $9.2m | $4.7m | $3.0m | $2.3m | $8.2m | $187.5m | $177.7m | |
| Goodwill | $0 | $0 | — | — | — | — | — | — | — | |
| Intangible Assets, Net (Excluding Goodwill) | $3.3m | $4.2m | $3.7m | $3.2m | $4.0m | $3.5m | $3.0m | — | — | |
| Intangible assets | — | $4.2m | $3.7m | $3.2m | $4.0m | $3.5m | $3.0m | $3.1m | — | |
| Goodwill And Other Intangible Assets | — | — | — | — | — | $3.5m | $3.0m | $3.1m | $0 | |
| Other Intangible Assets | — | — | — | — | $4.0m | $3.5m | $3.0m | — | — | |
| Operating Lease, Right-of-Use Asset | — | — | $38.1m | $19.5m | $16.2m | $29.8m | $27.8m | $25.0m | $11.8m | |
| Right-of-use assets (including amounts of the consolidated VIEs of RMB 413,172 and RMB 821,569 as of December 31, 2024 and 2025, respectively) | — | — | $38.1m | $19.5m | $16.2m | $29.8m | $27.8m | $25.0m | $11.8m | |
| Other assets (including amounts of the consolidated VIEs of RMB29,910,749 and RMB21,749,504 as of December 31, 2024 and 2025, respectively) | — | $93.3m | $207.5m | $607.7m | $404.8m | $669.9m | $1.3b | $1.6b | $1.7b | |
| Additional Financial Items | ||||||||||
| Accrued Liabilities, Current | — | — | — | — | $5.8m | $16.5m | $7.3m | $11.9m | $1.1m | |
| Allowance for credit losses (including amounts of the consolidated VIEs of RMB591,519,389 and RMB187,246,156 as of December 31, 2024 and 2025, respectively) | — | — | $1.1b | $659.5m | $975.9m | $764.0m | $781.8m | $678.0m | ($314.0m) | |
| Loans held-for-sale (including amounts of the consolidated VIEs of RMB2,013,904,758 and RMB1,992,122,884 as of December 31, 2024 and 2025, respectively) | — | — | — | $586.2m | $734.0m | $1.8b | $2.5b | $3.5b | $3.5b | |
| Investment securities (including amounts of the consolidated VIEs of RMB23,000,000 and RMB8,000,000 as of December 31, 2024 and 2025, respectively) | — | — | $654.3m | $418.1m | $1.1b | $518.6m | $413.9m | $266.9m | $273.4m | |
| Deferred tax assets (including amounts of the consolidated VIEs of RMB 1,809,403 and RMB 7,607,426 as of December 31, 2024 and 2025, respectively) | — | $217.6m | $16.4m | $75.8m | $21.1m | $76.9m | $92.2m | $131.1m | $318.3m | |
| Deposits (including amounts of the consolidated VIEs of RMB 130,977,736 and RMB 57,059,596 as of December 31, 2024 and 2025, respectively) | — | — | $133.5m | $114.1m | $157.0m | $145.1m | $163.1m | $162.0m | $91.3m | |
| Guaranteed assets (including amounts of the consolidated VIEs of RMB656,112,865 and RMB925,263,883 as of December 31, 2024 and 2025, respectively) | — | — | — | $533.7m | $1.3b | $726.4m | $875.0m | $1.1b | $1.6b | |
| Borrowings under agreements to repurchase (including amounts of the consolidated VIEs of RMB29,708,280 and RMB36,524,859 as of December 31, 2024 and 2025, respectively) | — | $4.2b | $870.8m | $508.6m | $45.2m | $112.6m | $686.6m | $1.7b | $2.8b | |
| Other borrowings (including amounts of the consolidated VIEs of RMB5,844,144,937 and RMB591,994,138 as of December 31, 2024 and 2025, respectively) | — | $11.1b | $6.7b | $5.6b | $8.0b | $7.7b | $8.2b | $5.9b | $673.1m | |
| Income taxes payable (including amounts of the consolidated VIEs of RMB2,013,889 and RMB4,353,507 as of December 31, 2024 and 2025, respectively) | — | — | $136.9m | $154.8m | $155.0m | $186.9m | $181.0m | $199.8m | $259.8m | |
| Lease liabilities (including amounts of the consolidated VIEs of RMB86,485 and RMB259,455 as of December 31, 2024 and 2025, respectively) | — | — | $38.1m | $19.5m | $15.5m | $28.6m | $26.1m | $21.4m | $12.2m | |
| Credit risk mitigation position | — | — | $928.7m | $1.2b | $1.3b | $1.4b | $1.6b | $1.4b | $1.1b | |
| Other liabilities (including amounts of the consolidated VIEs of RMB430,140,564 and RMB119,631,799 as of December 31, 2024 and 2025, respectively) | — | $251.5m | $404.5m | $523.7m | $785.8m | $1.0b | $1.5b | $1.7b | $1.8b | |
| Ordinary shares, value | — | $917k | $917k | $917k | $917k | $917k | $917k | $917k | $917k | |
| Accumulated Depreciation | — | — | — | — | — | ($35.2m) | ($31.5m) | ($29.3m) | ($33.2m) | |
| Available For Sale Securities | — | — | — | — | — | $49.0m | $73.7m | $54.1m | $39.2m | |
| Buildings And Improvements | — | — | — | — | — | — | $0 | $183.8m | $183.8m | |
| Capital Lease Obligations | — | — | — | — | — | $28.6m | $26.1m | $21.4m | $12.2m | |
| Current Accrued Expenses | — | — | — | — | — | $16.5m | $7.3m | $11.9m | $1.1m | |
| Current Debt | — | — | — | — | — | — | $6.4b | $5.4b | $454.5m | |
| Current Debt And Capital Lease Obligation | — | — | — | — | — | — | $6.4b | $5.4b | $454.5m | |
| Employee Benefits | — | — | — | — | — | $31.6m | $25.7m | $15.3m | $7.9m | |
| Gross PPE | — | — | — | — | — | $67.2m | $67.5m | $241.8m | $222.6m | |
| Held To Maturity Securities | — | — | — | — | — | $274.3m | $231.9m | $187.4m | $205.9m | |
| Income Tax Payable | — | — | — | — | — | $261.9m | $248.1m | $249.5m | $269.2m | |
| Invested Capital | — | — | — | — | — | $11.6b | $12.3b | $10.0b | $4.3b | |
| Investments And Advances | — | — | — | — | — | $567.7m | $452.1m | $280.1m | $273.4m | |
| Leases | — | — | — | — | — | $16.9m | $16.2m | $14.2m | $8.6m | |
| Long Term Capital Lease Obligation | — | — | — | — | — | $28.6m | $26.1m | $21.4m | $12.2m | |
| Machinery Furniture Equipment | — | — | — | — | — | $18.2m | $20.4m | $15.5m | $15.5m | |
| Net Debt | — | — | — | — | $5.7b | $5.6b | $5.7b | $4.2b | — | |
| Net PPE | — | — | — | — | — | $32.1m | $36.0m | $212.5m | $189.5m | |
| Net Tangible Assets | — | — | — | — | — | $3.9b | $4.0b | $4.1b | $3.6b | |
| Non Current Deferred Liabilities | — | — | — | — | — | $109.4m | $112.2m | $104.0m | $140.7m | |
| Ordinary Shares Number | — | — | — | — | — | $1.4b | $1.4b | $1.4b | $1.4b | |
| Other Current Borrowings | — | — | — | — | — | — | $6.4b | $5.4b | $454.5m | |
| Other Equity Adjustments | — | — | — | — | — | ($10.2m) | ($9.3m) | ($8.8m) | ($13.6m) | |
| Other Payable | — | — | — | — | — | $50.4m | $77.8m | $54.1m | $45.9m | |
| Other Properties | — | — | — | — | — | $32.1m | $30.9m | $28.3m | $14.8m | |
| Payables | — | — | — | — | — | $330.9m | $341.5m | $310.9m | $316.2m | |
| Share Issued | — | — | — | — | — | $1.6b | $1.6b | $1.6b | $1.6b | |
| Tangible Book Value | — | — | — | — | — | $3.9b | $4.0b | $4.1b | $3.6b | |
| Treasury Shares Number | — | — | — | — | — | $187.9m | $187.9m | $187.9m | $187.9m | |
| Total equity attributable to owners of the Company | — | $3.0b | $3.6b | $3.7b | $3.8b | $3.9b | $4.0b | $4.1b | $3.6b | |
| Total shareholders’ equity | — | — | — | — | $3.8b | $3.9b | $4.0b | $4.1b | $3.6b | |
| Total Capitalization | — | — | — | — | — | $11.6b | $5.8b | $4.6b | $3.8b | |
| Total Debt | — | — | — | — | — | $7.8b | $8.3b | $6.0b | $685.4m | |
| Total Tax Payable | — | — | — | — | — | $261.9m | $248.1m | $249.5m | $269.2m | |
| Assets | $18.2b | $19.4b | $13.0b | $12.2b | $14.4b | $14.5b | $16.4b | $15.0b | $10.2b | |
| Total assets | — | $19.4b | $13.0b | $12.2b | $14.4b | $14.5b | $16.4b | $15.0b | $10.2b | |
| LIABILITIES AND EQUITY | ||||||||||
| Operating Lease, Liability, Noncurrent | — | — | — | — | — | — | — | $86k | $259k | |
| Accrued employee benefits (including amounts of the consolidated VIEs of RMB38,168 and RMB33,769 as of December 31, 2024 and 2025, respectively) | — | $42.2m | $37.3m | $29.6m | $24.2m | $31.6m | $25.7m | $15.3m | $7.9m | |
| Non Current Deferred Revenue | — | — | — | — | — | $35.6m | $39.6m | $30.6m | $60.0m | |
| Payables And Accrued Expenses | — | — | — | — | — | $347.4m | $348.8m | $322.8m | $317.3m | |
| Deferred Income Tax Liabilities, Net | $777k | $1.3m | $359.3m | $396.6m | $151.8m | $73.8m | $72.6m | $73.4m | $80.7m | |
| Other Liabilities, Noncurrent | — | — | — | — | $125.2m | $144.1m | $232.9m | $430.1m | $119.6m | |
| Long-term Debt | — | — | — | — | — | $7.7b | $1.8b | $548.7m | $205.3m | |
| Deferred tax liabilities (including amounts of the consolidated VIEs of Nil and 55,991 as of December 31, 2024 and 2025, respectively) | — | $1.3m | $359.3m | $396.6m | $151.8m | $73.8m | $72.6m | $73.4m | $80.7m | |
| Long Term Debt And Capital Lease Obligation | — | — | — | — | — | $7.8b | $1.8b | $599.8m | $230.9m | |
| Non Current Deferred Taxes Liabilities | — | — | — | — | — | $73.8m | $72.6m | $73.4m | $80.7m | |
| Deferred Tax Liabilities, Net | $777k | $1.3m | $631.4m | $649.8m | $151.8m | $73.8m | $72.6m | $73.4m | $80.7m | |
| Liabilities | $16.4b | $16.3b | $9.4b | $8.5b | $10.6b | $10.5b | $12.4b | $11.0b | $6.7b | |
| Total liabilities | — | $16.3b | $9.4b | $8.5b | $10.6b | $10.5b | $12.4b | $11.0b | $6.7b | |
| Stockholders’ equity: | ||||||||||
| Common Stock, Value, Issued | $0 | $917k | $917k | $917k | $917k | $917k | $917k | $917k | — | |
| Additional Paid in Capital | — | $921.7m | $937.6m | $999.7m | $1.0b | $1.0b | $1.0b | $1.0b | $1.0b | |
| Retained Earnings (Accumulated Deficit) | $1.3b | $2.1b | $2.7b | $2.8b | $2.8b | $3.0b | $3.1b | $3.1b | $2.7b | |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | ($4.5m) | ($4.6m) | ($2.1m) | ($18.5m) | ($25.4m) | ($10.2m) | ($9.3m) | ($8.8m) | ($13.6m) | |
| Additional Paid in Capital, Common Stock | $569.1m | $921.7m | $937.6m | — | — | — | — | — | — | |
| Treasury stock | — | — | — | — | — | ($87.6m) | ($118.3m) | ($122.9m) | ($124.7m) | |
| Accumulated other comprehensive losses | — | ($4.6m) | ($2.1m) | ($18.5m) | ($25.4m) | ($10.2m) | ($9.3m) | ($8.8m) | ($13.6m) | |
| Capital Stock | — | — | — | — | — | $917k | $917k | $917k | $917k | |
| Gains Losses Not Affecting Retained Earnings | — | — | — | — | — | ($10.2m) | ($9.3m) | ($8.8m) | ($13.6m) | |
| Stockholders' Equity Attributable to Parent | $1.8b | $3.0b | $3.6b | $3.7b | $3.8b | $3.9b | $4.0b | $4.1b | $3.6b | |
| Stockholders' Equity Attributable to Noncontrolling Interest | — | — | — | — | — | $51.7m | — | — | — | |
| Minority Interest | — | — | — | — | — | $51.7m | $0 | $0 | $0 | |
| Total Equity Gross Minority Interest | — | — | — | — | — | $3.9b | $4.0b | $4.1b | $3.6b | |
| Liabilities and Equity | $18.2b | $19.4b | $13.0b | $12.2b | $14.4b | $14.5b | $16.4b | $15.0b | $10.2b | |
| Total liabilities and shareholders’ equity | — | $19.4b | $13.0b | $12.2b | $14.4b | $14.5b | $16.4b | $15.0b | $10.2b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.