Brief: Cnfinance Announces Fourth Quarter Results

CNFinance Holdings

16/03/2020 11:51

March 16 (Reuters) - CNFinance Holdings Ltd  CNF.N :
    * CNFINANCE ANNOUNCES FOURTH QUARTER 2019 AND FISCAL YEAR
2019
UNAUDITED FINANCIAL RESULTS
    * Q4 SALES RMB 75.8 MILLION
    * CNFINANCE HOLDINGS - TOTAL LOAN ORIGINATION VOLUME WAS
RMB2.0
BILLION IN Q4 2019, REPRESENTING INCREASE OF 81.8% FROM RMB1.1
BILLION IN SAME PERIOD OF 2018
    * CNFINANCE HOLDINGS- TOTAL NUMBER OF TRANSACTIONS WAS 4,284
DURING Q4 OF 2019, REPRESENTING AN INCREASE OF 83.5%
    * CNFINANCE HOLDINGS - BASIC AND DILUTED EARNINGS PER ADS
WERE
RMB0.89 (US$0.13) AND RMB0.81(US$0.12), RESPECTIVELY, IN Q4 OF
2019
    * EXPECT 2020 TO BE A CHALLENGING YEAR FOR CNFINANCE
    * AFTER TAKING INTO CONSIDERATION OF COVID-19 OUTBREAK,
EXPECT TO
BE BREAKEVEN IN Q1 2020
    * CNFINANCE HOLDINGS - COVID-19 OUTBREAK MAY HAVE MATERIAL
ADVERSE
EFFECT ON CHINA'S REAL ESTATE MARKET, WHICH MAY INCREASE RISKS
OF LOANS CO FACILITATES
    * COVID-19 OUTBREAK WILL AFFECT THE OPERATION OF MSES WHOSE
OWNERS
ARE OUR MAIN CUSTOMERS

Source text for Eikon:  ID:nPn56Jjq2a 
Further company coverage:  CNF.N 

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