UPDATE: CNFinance Holdings Limited (CNF) Reports Q4 EPS of $0.39

CNFinance Holdings Limited. (NYSE: CNF) reported Q4 EPS of $0.39.

• Total number of active borrowers[1] was 31,039 as of December 31, 2018, compared to 26,326 active borrowers as of December 31, 2017.
• Total number of transactions[2] was 2,334 during the fourth quarter of 2018.
• Total loan origination volume[3] was RMB1,128.2 million (US$164.1 million) during the fourth quarter of 2018.
• Total outstanding loan principal[4] was RMB15.8 billion as of December 31, 2018, compared to RMB16.7 billion as of December 31, 2017.
• Total interest and fees income was RMB1,039.6 million (US$151.2 million) in the fourth quarter of 2018, a slight decrease of 2.7% from RMB1,068.9 million in the same period of 2017.
• Net income was RMB188.1 million (US$27.4 million) in the fourth quarter of 2018, an increase of 7.0% from RMB175.8 million in the same period of 2017.
• Basic and diluted earnings per ADS were RMB3.01 (US$0.44) and RMB2.71 (US$0.39), respectively, in the fourth quarter of 2018, compared to RMB2.86 and RMB2.64, respectively, in the same period of 2017.

"The fourth quarter was challenging for us and the entire industry as China's macroeconomic environment softened," commented Mr. Bin Zhai, Chairman and Chief Executive Officer of CNFinance. "We remain optimistic about future prospects and are now focused on strengthening our risk assessment capabilities, enhancing asset quality, and optimizing our workforce. We have taken a more cautious approach in growing our business, managing the pace of loan growth during the quarter in order to ensure their quality and support the long-term sustainable growth of our business. We also launched a new loan partnership service platform to broaden our customer reach and diversify risks. The new loan partnership services platform has performed very well since its recent launch and has since gained market recognition. We believe this will help create a foundation for us to potentially gain market share in the future and will benefit all parties, including our shareholders, our trust company partners and other lenders."

For earnings history and earnings-related data on Oceanfreight, Inc. (CNF) click here.

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