CNF

MKT CAP:$9M

CNFinance Holdings Limited

Market Cap

$9M

Financial Services·Financial - Mortgages·🇨🇳 China·NYSE

Financials·Financial·🇨🇳·NYSE

Stock Price

$3.42-$2.58 (-43.00%)

Apr 21, 2026

Company Details

CNFinance Holdings Limited, through its subsidiaries, provides home equity loan services in the People's Republic of China. It offers micro credit loan services for micro and small-enterprise owners; and loan lending agency services for fin...

CEO

Zhai Bin

IPO Date

Nov 7, 2018

Website

www.cashchina.cn

Key Metrics TTM

Revenue

$53M

-70.7% YoY

Net Income

-$7M

EPS (Diluted)

-$21.39

Free Cash Flow

$0

Revenue / Share

$156.31

Gross Margin

100.0%

Operating Margin

54.9%

Net Margin

-14.0%

FCF Margin

0.0%

P/S

0.2x

P/E

—

Earnings Reports

Q3 2025

May 5, 2026

PENDING

Q2 2025

Aug 28, 2025

$6M-75.1%EPS -$8.77

Q1 2025

Mar 31, 2025

$6M-75.1%EPS -$8.77

FY 2024

Apr 29, 2025

$234M-12.9%EPS $1.61

Q4 2024

Apr 29, 2025

$20M-68.6%EPS -$1.93

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$69M	$32M	$4M
Q4 21	$1M	$16M	-$18M
Q1 22	$59M	$32M	$9M
Q2 22	$65M	$28M	$3M
Q3 22	$68M	$34M	$9M
Q4 22	$68M	$28M	$4M
Q1 23	$72M	$34M	$10M
Q2 23	$69M	$35M	$8M
Q3 23	$64M	$38M	$10M
Q4 23	$63M	$39M	$2M
Q1 24	$26M	$26M	$19M
Q2 24	$26M	$26M	$19M
Q3 24	$20M	$20M	$12M
Q4 24	$20M	$20M	$12M
Q1 25	$6M	$6M	$2M
Q2 25	$6M	$6M	$2M

Valuation

Quarter	P/S	P/E
Q3 21	1.0x	6.5x
Q4 21	0.7x	15.7x
Q1 22	0.6x	35.7x
Q2 22	0.7x	—
Q3 22	0.5x	261.9x
Q4 22	0.3x	3.6x
Q1 23	0.3x	4.4x
Q2 23	0.4x	4.1x
Q3 23	0.7x	7.1x
Q4 23	0.3x	2.8x
Q1 24	0.3x	3.0x
Q2 24	0.0x	0.3x
Q3 24	0.0x	0.5x
Q4 24	0.0x	0.7x
Q1 25	0.0x	—
Q2 25	0.0x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	$0	$0
Q4 21	$3M	$2M
Q1 22	$0	$0
Q2 22	$0	$0
Q3 22	$0	$0
Q4 22	-$7M	-$19M
Q1 23	$0	$0
Q2 23	$0	$0
Q3 23	$0	$0
Q4 23	$0	$0
Q1 24	$0	$0
Q2 24	$0	$0
Q3 24	$0	$0
Q4 24	$0	$0
Q1 25	$0	$0
Q2 25	$0	$0

Capital Expenditures

Quarter	CapEx
Q3 21	$0
Q4 21	$147.8K
Q1 22	$0
Q2 22	$0
Q3 22	$0
Q4 22	$13M
Q1 23	$0
Q2 23	$0
Q3 23	$0
Q4 23	$0
Q1 24	$0
Q2 24	$0
Q3 24	$0
Q4 24	$0
Q1 25	$0
Q2 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	-9.4%	+0.1%
Q4 21	-98.3%	-63.1%
Q1 22	-9.2%	+4.7%
Q2 22	-6.8%	+4.9%
Q3 22	-1.1%	-9.5%
Q4 22	+5640.8%	+241.2%
Q1 23	+21.8%	+23.0%
Q2 23	+5.4%	-2.3%
Q3 23	-5.4%	-7.5%
Q4 23	-7.6%	-4.8%
Q1 24	-64.2%	-88.8%
Q2 24	-62.3%	-88.4%
Q3 24	-69.2%	-85.9%
Q4 24	-68.6%	-87.4%
Q1 25	-75.1%	-40.5%
Q2 25	-75.1%	-40.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$685.6K	1.0%
Q4 21	$685.5K	57.5%
Q1 22	$210.8K	0.4%
Q2 22	$211.1K	0.3%
Q3 22	$211.0K	0.3%
Q4 22	$210.9K	0.3%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$1M	1.7%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$1M	5.5%
Q4 24	$1M	5.5%
Q1 25	$0	0.0%
Q2 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q3 21	—	$8M	$15M	—
Q4 21	—	$15M	$22M	—
Q1 22	—	$7M	$12M	—
Q2 22	—	$8M	$11M	—
Q3 22	—	$8M	$12M	—
Q4 22	—	$7M	$12M	—
Q1 23	—	$7M	$12M	—
Q2 23	—	$8M	$12M	—
Q3 23	—	$9M	$13M	—
Q4 23	$261.8K	$10M	$21M	—
Q1 24	—	—	—	$7M
Q2 24	—	—	—	$7M
Q3 24	$73.8K	$7M	$997.5K	—
Q4 24	$73.8K	$7M	$997.5K	—
Q1 25	—	—	—	$4M
Q2 25	—	—	—	$4M

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 21	$310M	$0	$310M
Q4 21	$349M	$159M	$508M
Q1 22	$270M	$0	$270M
Q2 22	$230M	$0	$230M
Q3 22	$220M	$0	$220M
Q4 22	$316M	$36M	$351M
Q1 23	$341M	$0	$341M
Q2 23	$297M	$0	$297M
Q3 23	$287M	$0	$287M
Q4 23	$373M	$21M	$394M
Q1 24	$236M	$0	$236M
Q2 24	$261M	$0	$261M
Q3 24	$171M	$0	$171M
Q4 24	$257M	$6M	$262M
Q1 25	$118M	$0	$118M
Q2 25	$135M	$0	$135M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	4M	+18.3%	-7.6%
Q4 21	3M	-15.1%	-12.8%
Q1 22	4M	+9.5%	+0.7%
Q2 22	4M	+6.5%	+17.2%
Q3 22	4M	+0.3%	-0.7%
Q4 22	4M	-0.5%	+16.4%
Q1 23	4M	+7.7%	+14.5%
Q2 23	4M	-11.3%	-4.6%
Q3 23	3M	-9.2%	-13.6%
Q4 23	5M	+39.6%	+21.2%
Q1 24	3M	-35.2%	-27.1%
Q2 24	3M	0.0%	-17.9%
Q3 24	386K	-87.1%	-88.3%
Q4 24	386K	0.0%	-91.6%
Q1 25	336K	-12.9%	-88.8%
Q2 25	336K	0.0%	-88.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	$129.8K	531
Q4 21	$2.7K	443
Q1 22	$133.7K	443
Q2 22	$146.8K	443
Q3 22	$153.9K	443
Q4 22	$128.6K	532
Q1 23	$135.6K	532
Q2 23	$128.9K	532
Q3 23	$121.2K	532
Q4 23	$124.0K	510
Q1 24	$50.6K	510
Q2 24	$50.6K	510
Q3 24	$38.9K	510
Q4 24	$49.3K	403
Q1 25	$16.0K	403
Q2 25	$16.0K	403

Revenue / Employee