The following is a summary of the CNFinance Holdings Limited (CNF) Q4 2023 Earnings Call Transcript:

Financial Performance:

• CNFinance reported year-end loans of 17.3 billion RMB, indicating an 18% growth compared to the previous year.

• A marginal increase in interest income was seen in 2023 whilst interest expense decreased by 8% due to the optimized funding structure.

• There was a 23% reduction in provision for credit losses owing to stronger commercial bank partnerships. This led to a substantial net income growth of 21%, with the income being 165 million RMB.

Business Progress:

• CNFinance originated 5 billion RMB loans under commercial bank partnership, generating a net revenue of approximately 88 million RMB.

• The company fine-tuned its installment policy for repurchasing delinquent loans, thereby relieving liquidity pressure on sales partners.

• In response to the uncertainties in the real estate market, the firm has decided to concentrate in core areas of Chinese cities, grounding 90% of its loans in Tier 1 and Tier 2 cities.

• Through technology, CNFinance has been able to refine credit assessments, leading to a notable decrease in the delinquency ratio in 2023.

• The company anticipates a diversification in product offerings in 2024, aiming to target quality collaterals and borrowers with superior risk profiles.

More details: CNFinance IR

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