CNFinance Holdings Ltd. (CNF) Tops Q4 EPS by 21c

CNFinance Holdings Ltd. (NYSE: CNF) reported Q4 EPS of $0.22, $0.21 better than the analyst estimate of $0.01.

Fourth Quarter 2020 Operational and Financial Highlights

• Total loan origination volume[1] was RMB2.7 billion during the fourth quarter of 2020, representing an increase of 35.0% from RMB2.0 billion in the same period of 2019.
• Total number of transactions[2] was 5,172 during the fourth quarter of 2020, representing an increase of 20.7% from 4,284 in the same period of 2019.
• Total interest and fees income were RMB421.1 million (US$64.5 million) in the fourth quarter of 2020, representing a decrease of 29.5% from RMB596.9 million in the same period of 2019.
• Net income was RMB105.3 million (US$16.2 million) in the fourth quarter of 2020, representing an increase of 72.6% from RMB61.0 million in the same period of 2019.
• Basic and diluted earnings per ADS were RMB1.54 (US$0.24) and RMB1.42(US$0.22), respectively, in the fourth quarter of 2020, as compared to RMB0.89 and RMB0.81, respectively, in the same period of 2019.

"2020 was a special year under the influence of COVID-19 pandemic, it was also the second year since our adoption of the collaboration model. In 2019, we achieved smooth transition from the old model to the collaboration model and kept improving its application. In 2020, the refined collaboration model has proved its capability to overcome obstacles brought by the changing business environment. For the fiscal year of 2020, we facilitated loans amounting RMB8.8 billion, representing an increase of 40% as compared to 2019, we also recorded a revenue of RMB1.8 billion and a net income of RMB114.9 million. Those results were of strong proof to the efficiency of the collaboration model, and further enhanced our confidence to keep promoting the model. Our collaboration model and loan products have also been well recognized by the market. At the end of the year, the signed sales partners reached 1,700 as compared to 1,300 in 2019, representing an increase of 31%.

Report on the Work of the Government in 2021 declared that we "should continuously be working on providing financial solutions for MSEs", which is exactly what we have been dedicated to. We believe in 2021, in order to better serve our sales partners and MSE owners and reach our set goal of exceeding RMB10 billion in outstanding loans under the collaboration model, we will continue to refine our product design, sales partners service and platform operation, and continue to create value for our shareholders." Commented Mr.Zhai Bin, Chairman and CEO of CNFinance."

For earnings history and earnings-related data on CNFinance Holdings Ltd. (CNF) click here.

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