Cnfinance Holdings (CNF) has released an update.
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CNFinance, a prominent home equity loan service provider in China, has reported a 17.6% year-over-year increase in total outstanding loan principal for Q4 2023, reaching RMB 16.0 billion. Despite a modest rise in net interest and fees income, the company experienced a 33.6% decline in net income for the quarter. However, the fiscal year results were more positive, with a 21.5% increase in annual net income to RMB 164.5 million, highlighting a year of high-quality development and strategic focus on Tier 1 and Tier 2 cities.
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