CNFinance Holdings Limited (CNF) 20-F27 Apr 202019 FY Annual report (foreign)Financial data

Company Profile

Document and Entity Information

Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2019shares
Document and Entity Information [Abstract]
Entity Registrant Name	CNFinance Holdings Ltd.
Entity Central Index Key	0001733868
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Document Type	20-F
Document Period End Date	Dec. 31, 2019
Amendment Flag	false
Entity Common Stock, Shares Outstanding	1,371,643,240
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Document Transition Report	false
Document Annual Report	true
Document Shell Company Report	false
Entity Interactive Data Current	Yes
Entity Incorporation State Country Code	E9
Entity File Number	001-38726

Consolidated Balance Sheets

Consolidated Balance Sheets - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018
Assets
Cash and cash equivalents (including RMB2,457,242,507 and RMB1,073,209,525 from structured funds as of December 31, 2018 and 2019, respectively, which could only be used to grant new loans and activities as mentioned in Note 1)	¥ 1,705,356,424	¥ 3,161,657,934
Loans principal, interest and financing service fee receivables (net of allowance of RMB863,038,604 and RMB1,108,078,429 as of December 31, 2018 and 2019, respectively)	10,258,018,857	14,998,285,866
Available-for-sale investments	654,328,054	682,252,159
Property and equipment	9,195,975	19,166,229
Intangible assets and goodwill	3,738,338	4,176,244
Deferred tax assets	16,441,330	217,615,423
Deposits	133,513,032	178,217,958
Right-of-use assets	38,133,941
Other assets	207,523,016	93,345,352
Total assets	13,026,248,967	19,354,717,165
Interest-bearing borrowings
Borrowings under agreements to repurchase	870,778,215	4,213,900,028
Other borrowings	6,652,138,315	11,110,876,011
Accrued employee benefits	37,276,343	42,179,041
Income taxes payable	136,931,899	689,415,410
Deferred tax liabilities	359,286,455	1,305,540
Lease liabilities	38,133,941
Credit risk mitigation position	928,702,101
Other liabilities	404,469,203	251,485,755
Total liabilities	9,427,716,472	16,309,161,785
Ordinary shares (3,800,000,000 shares authorized; 1,371,643,240 shares with USD0.0001 as par value issued as of December 31, 2018 and December 31, 2019)	916,743	916,743
Additional paid-in capital	937,589,515	921,703,448
Retained earnings	2,662,145,649	2,127,501,707
Accumulated other comprehensive losses	(2,119,412)	(4,566,518)
Total shareholders' equity	3,598,532,495	3,045,555,380
Total liabilities and shareholders' equity	¥ 13,026,248,967	¥ 19,354,717,165

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical)	Dec. 31, 2019CNY (¥)shares	Dec. 31, 2019$ / shares	Dec. 31, 2018CNY (¥)shares	Dec. 31, 2018$ / shares	Jan. 08, 2014$ / shares
Statement of Financial Position [Abstract]
Cash and cash equivalents of structured funds \| ¥	¥ 1,073,209,525		¥ 2,457,242,507
Net of allowance for loans principal, interest and financing service fee receivables \| ¥	¥ 1,108,078,429		¥ 863,038,604
Ordinary shares, par value per share (in dollars per share) \| (per share)		$ 0.0001		$ 0.0001	$ 0.0001
Ordinary shares, shares authorized \| shares	3,800,000,000		3,800,000,000
Common stock, shares issued \| shares	1,371,643,240		1,371,643,240

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - CNY (¥)	12 Months Ended
Consolidated Statements of Comprehensive Income - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Interest and fees income
Interest and financing service fee on loans	¥ 2,953,480,997	¥ 4,278,820,368	¥ 3,406,110,592
Interest on deposits with banks	16,680,498	13,844,598	4,337,177
Total interest and fees income	2,970,161,495	4,292,664,966	3,410,447,769
Interest expense
Interest expense on interest-bearing borrowings	(1,309,835,699)	(1,942,449,117)	(1,401,191,685)
Interest expense paid to related parties		(610,405)	(8,714,000)
Total interest expense	(1,309,835,699)	(1,943,059,522)	(1,409,905,685)
Net interest and fees income	1,660,325,796	2,349,605,444	2,000,542,084
Collaboration cost for sales partners	(174,042,054)
Net interest and fees income after collaboration cost	1,486,283,742	2,349,605,444	2,000,542,084
Provision for credit losses (net of increase in loss recoverable of nil, nil and RMB 100,304,255 for years ended 2017, 2018 and 2019, respectively)	(362,735,159)	(433,753,901)	(306,752,951)
Net interest and fees income after provision for credit losses	1,123,548,583	1,915,851,543	1,693,789,133
Realized (losses)/gains on sales of investments, net	46,126,258	3,185,026	(11,527,798)
Other gains/(losses), net	82,334,488	(14,582,940)	23,979,610
Total non-interest revenue	128,460,746	(11,397,914)	12,451,812
Operating expenses
Employee compensation and benefits	(228,135,061)	(443,071,028)	(545,956,248)
Share-based compensation expenses	(15,886,067)	(39,715,168)	(182,689,766)
Taxes and surcharges	(67,689,864)	(81,198,115)	(38,835,933)
Operating lease cost	(36,607,623)	(58,317,758)	(47,896,817)
Offering expenses		(10,858,717)
Other expenses	(182,678,536)	(113,555,657)	(82,194,556)
Total operating expenses	(530,997,151)	(746,716,443)	(897,573,320)
Income before income tax	721,012,178	1,157,737,186	808,667,625
Income tax expense	(186,368,236)	(296,828,475)	(275,994,868)
Net income	¥ 534,643,942	¥ 860,908,711	¥ 532,672,757
Earnings per share
Basic	¥ 0.39	¥ 0.69	¥ 0.43
Diluted	¥ 0.36	¥ 0.62	¥ 0.40
Other comprehensive (losses)/income
Net unrealized (losses)/gains on available-for-sale investments	¥ (1,518,079)	¥ 1,585,705	¥ (2,601,355)
Foreign currency translation adjustment	3,965,185	(1,682,779)	(198,794)
Comprehensive income	¥ 537,091,048	¥ 860,811,637	¥ 529,872,608

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - CNY (¥)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Net of increase in loss recoverable	¥ 100,304,255

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - CNY (¥)	Ordinary shares	Additional paid-in capital	Accumulated other comprehensive income /(losses)	Retained earnings	Total
Balance at Dec. 31, 2016		¥ 386,435,474	¥ (1,669,295)	¥ 733,920,239	¥ 1,118,686,418
Net income				532,672,757	532,672,757
Foreign currency translation adjustment			(198,794)		(198,794)
Unrealized losses on available-for-sale investments			(2,601,355)		(2,601,355)
Share-based compensation		182,689,766			182,689,766
Balance at Dec. 31, 2017		569,125,240	(4,469,444)	1,266,592,996	1,831,248,792
Net income				860,908,711	860,908,711
Foreign currency translation adjustment			(1,682,779)		(1,682,779)
Unrealized gains on available-for-sale investments			1,585,705		1,585,705
Share-based compensation		39,715,168			39,715,168
Reorganization	98,493	(98,493)
Change in par value of ordinary shares	720,718	(720,718)
Issuance of ordinary shares upon initial public offering ("IPO"), net of offering cost	97,532	313,682,251			313,779,783
Balance at Dec. 31, 2018	916,743	921,703,448	(4,566,518)	2,127,501,707	3,045,555,380
Net income				534,643,942	534,643,942
Foreign currency translation adjustment			3,965,185		3,965,185
Unrealized losses on available-for-sale investments			(1,518,079)		(1,518,079)
Share-based compensation		15,886,067			15,886,067
Balance at Dec. 31, 2019	¥ 916,743	¥ 937,589,515	¥ (2,119,412)	¥ 2,662,145,649	¥ 3,598,532,495

Consolidated statements of cash

Consolidated statements of cash flows - CNY (¥)		12 Months Ended
Consolidated statements of cash flows - CNY (¥)		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net income		¥ 534,643,942	¥ 860,908,711	¥ 532,672,757
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses		362,735,159	433,753,901	306,752,951
Depreciation and amortization		10,917,300	13,299,246	10,804,855
Share-based compensation expenses		15,886,067	39,715,168	182,689,766
Net loss on disposal of property and equipment		3,049,896	946,244	261,875
Net gain on disposal of subsidiaries				6,060,758
Foreign exchange (gain)/loss		(647,316)	(1,836,029)	2,274,438
Deferred tax (benefit)/expense		3,908,847	(105,085,476)	(57,888,823)
Loss/ (gain) on sale of loans	[1]	(75,959,140)	16,697,259
Loans held-for-sale:
Originations and purchase		(550,365,329)	(7,871,176)
Proceeds from sales and paydowns of loans originally classified as held for sale		207,192,005	35,232,875
Guaranteed assets		(100,304,255)
Changes in operating assets and liabilities:
Deposits		44,704,926	(27,892,733)	(98,732,767)
Credit risk mitigation position		928,702,101
Other operating assets		197,658,322	(138,548,636)	(289,327,710)
Other operating liabilities		(283,008,921)	205,466,514	691,081,484
Net cash provided by operating activities		1,299,113,604	1,324,785,868	1,286,649,584
Cash flows from investing activities:
Loans originated, net of principal collected		4,371,766,370	785,703,866	(9,288,327,415)
Proceeds from sales of available-for-sale investments		2,654,500,000	390,050,000	16,290,109
Cash received from disposal of investment in equity securities		6,000,000		9,350,000
Proceeds from disposal of subsidiaries			29,658,807	57,717,953
Proceeds from disposal of property and equipment and intangible assets		881,111	3,044,763	890,219
Proceeds from sales of loans		536,346,406	165,626,448
Purchase of available-for-sale investments		(2,628,600,000)	(710,000,000)	(360,050,000)
Purchases of property, equipment and intangible assets		(4,440,146)	(14,822,364)	(19,763,521)
Net cash (used in)/provided by investing activities		4,936,453,741	649,261,520	(9,583,892,655)
Cash flows from financing activities:
Proceeds from initial public offering, net of offering cost paid of RMB51,967,702			313,779,783
Proceeds from interest-bearing borrowings		2,793,124,280	10,931,383,040	15,024,145,699
Proceeds from related party			138,000,000
Repayment of interest-bearing borrowings		(10,488,829,330)	(11,352,964,066)	(5,767,405,436)
Repayment through related party			(32,747,681)
Net cash provided by /(used in) financing activities		(7,695,705,050)	(2,548,924)	9,256,740,263
Net increase/(decrease) in cash and cash equivalents		(1,460,137,705)	1,971,498,464	959,497,192
Cash and cash equivalents at the beginning of year		3,161,657,934	1,190,360,385	233,138,588
Effect of exchange rate change on cash and cash equivalents		3,836,195	(200,915)	(2,275,395)
Cash and cash equivalents at the end of year		1,705,356,424	3,161,657,934	1,190,360,385
Supplemental disclosures of cash flow information:
Income taxes paid		179,190,712	95,837,024	45,595,075
Interest expense paid		¥ 1,412,091,485	¥ 2,002,298,692	¥ 1,298,748,843

[1]	As mentioned in Note 6(c), the Group transferred the delinquent loans to third parties. Net (losses)/gains on sale of loans which summarizes the received from sales of loans are nil, net losses of RMB16,697,259 and net gains of RMB75,959,140 for the years ended December 31, 2017, 2018 and 2019, respectively.

Consolidated statements of ca_2

Consolidated statements of cash flows (Parenthetical)	12 Months Ended
Consolidated statements of cash flows (Parenthetical)	Dec. 31, 2018CNY (¥)
Statement of Cash Flows [Abstract]
Net of offering cost paid	¥ 51,967,702

Description of Business, Organi

Description of Business, Organization, and Basis of Presentation	12 Months Ended
	Dec. 31, 2019
Description Of Business Organization And Basis Of Presentation [Abstract]
DESCRIPTION OF BUSINESS, ORGANIZATION, AND BASIS OF PRESENTATION	1. DESCRIPTION OF BUSINESS, ORGANIZATION, AND BASIS OF PRESENTATION CNFinance Holdings Limited ("CNFinance"), through its wholly-owned subsidiaries and consolidated variable interest entities (collectively, referred to hereinafter as the "Group") in the People's Republic of China ("PRC"), primarily provides micro credit loan services for micro and small-enterprise ("MSE") owners, and loan lending agency service for banks. The Group's main funding resources are equity and borrowings from third parties. The loans are granted through its licensed micro credit subsidiaries in Beijing, Shenzhen and Chongqing directly, or the structured funds funded with the Group as general partners. Through the Group's network of sales team and branch offices, prospective MSE borrowers are referred to the licensed micro credit subsidiaries or the structured funds ("original model"). All loans were secured by residential or commercial real estate as of December 31, 2019. In December 2018, the Group began to explore a new collaboration model to mitigate credit risks ("collaboration model") and started to record the business under this model. The collaboration model is different from the existing original model by adding a collaboration relationship, which involves sales partners for introducing borrowers and providing a certain level of guarantee of repayment for loans recommended. Under such model, the Group is able to develop a financial services platform that matches various parties to lend resources at competitive rates. Those parties include sales partners who introduce borrowers from particular jurisdictions, trust companies that administer funds, and qualified investors who wish to earn a return on lending activities. The sales partners are nationwide mid-or-small companies that have local risk assessment capabilities. The collaboration model requires the sales partners to place a security deposit called credit risk mitigation positions which could be confiscated by the Group when loans are defaulted. The loan borrowers who are introduced by the sales partners are MSE owners who have properties that can be used as collateral. Reorganization CNFinance is incorporated in the Cayman Islands and was established on January 8, 2014 by the shareholders of Sincere Fame International Limited ("Sincere Fame"). In 2014, CNFinance Holdings Limited was incorporated under the laws of Cayman Islands. CNFinance became its holding company through share exchanges with the shareholders of Sincere Fame ("Reorganization") on March 27, 2018. The shareholders of Sincere Fame transferred all of their equity interests in Sincere Fame, consisting of 1,230,434,040 ordinary shares of Sincere Fame, in exchange for 1,230,434,040 ordinary shares of CNFinance and CNFinance became the parent company of Sincere Fame. As presented in Note 15, the Company issued one (1) share upon incorporation with par value of HKD0.0001. Upon the shares transfer, the total issued and outstanding shares of the Company is 1,230,434,041. Sincere Fame was incorporated in the British Virgin Islands and before the Reorganization, through its wholly-owned subsidiaries and consolidated variable interest entities in the PRC, primarily provided micro credit loan services for MSE owners, and loan lending agency service for banks. Basis of preparation The consolidated financial statements are prepared in accordance with U.S. Generally Accepted Accounting Principles ("U.S. GAAP"). The net assets of Sincere Fame are initially measured and recognized at their historical carrying amounts because the shareholders of CNFinance immediately after the Reorganization have identical ownership interests in Sincere Fame immediately before the Reorganization and the Reorganization is solely for the purpose of establishing the legal structure of CNFinance. Accordingly, the transfer of net assets of Sincere Fame has been accounted for and presented in the accompanying consolidated financial statements in a manner similar to a pooling-of-interests. That is, the consolidated financial statements of CNFinance include the results of the operations and the statement of financial position of Sincere Fame as of the beginning of the earliest period presented. Since CNFinance did not engage in any operating activities, CNFinance's consolidated financial position as of December 31, 2018 and 2019, and its results of operations for the years then ended represent the continuation of the consolidated financial statements of Sincere Fame, except for its capital structure, which is retroactively adjusted to reflect the legal capital structure of CNFinance. Investment in significant subsidiaries for the year ended December 31, 2019 Name of company Place and date of incorporation/ establishment Registered capital Issued and fully paid up capital Percentage of Principal activities Direct Indirect Sincere Fame International Limited British Virgin Islands USD 1,230,434.04 USD 1,230,434.04 100 % - Investment Holding China Financial Services Group Limited Hong Kong HKD 100,000,000 HKD 100,000,000 - 100 % Investment Holding Fanhua Chuang Li Information Technology (Shenzhen) Co., Ltd. the PRC HKD 400,000,000 HKD 400,000,000 - 100 % Investment Holding Shenzhen Fanhua United Investment Group Co., Ltd. the PRC RMB 250,000,000 RMB 250,000,000 - 100 % Investment Holding Guangzhou Anyu Mortgage Consulting Co., Ltd. the PRC RMB 2,220,000 RMB 2,220,000 - 100 % Micro credit Chongqing Fengjie Financial Advisory Co., Ltd. the PRC RMB 500,000 RMB 500,000 - 100 % Financial consultancy Guangzhou Chengze Information Technology Co., Ltd. the PRC RMB 3,000,000 RMB 3,000,000 - 100 % Software development and maintenance Name of company Place and date of incorporation/ establishment Registered capital Issued and fully paid up capital Percentage of equity attributable Principal activities Direct Indirect Chongqing Liangjiang New Area Fanhua Micro-credit Co., Ltd. the PRC USD 30,000,000 USD 30,000,000 - 100 % Micro credit Shenzhen Fanhua Micro-credit Co., Ltd. the PRC RMB 300,000,000 RMB 300,000,000 - 100 % Micro credit Shenzhen Fanhua Fund Management Services Co., Ltd. the PRC RMB 5,000,000 RMB 5,000,000 - 100 % Company register service Guangzhou Heze Information Technology Co., Ltd. the PRC RMB 20,000,000 RMB 20,000,000 - 100 % Software development and maintenance Beijing Lianxin Chuanghui Information Technology Co., Ltd. the PRC HKD 10,000,000 HKD 10,000,000 - 100 % Software development and maintenance Shenzhen Fanlian Investment Co., Ltd. the PRC RMB 30,000,000 RMB 30,000,000 - 100 % Investment Holding Fanhua Financial Leasing (Shenzhen) Co., Ltd. the PRC USD 10,000,000 USD 10,000,000 - 100 % Financial leasing Shenzhen Fanhua Chengyu Finance Service Co., Ltd. the PRC RMB 10,000,000 RMB 10,000,000 - 100 % Labour outsourcing services Beijing Fanhua Qilin Capital Management Co., Ltd. the PRC RMB 100,000,000 RMB 10,000,000 - 96 % Asset Management Name of company Place and date of incorporation/ establishment Registered capital Issued and fully Percentage of equity attributable Principal activities Direct Indirect Shijiazhuang Fanhua Financial Advisory Co., Ltd. the PRC RMB 2,000,000 - - 100 % Financial Consultancy Taizhou Fanhua Financial Advisory Co., Ltd. the PRC RMB 500,000 - - 100 % Financial Consultancy Xuzhou Shenfanlian Enterprise Management Co., Ltd. the PRC RMB 10,000,000 - - 100 % Enterprise Management Zhenjiang Fanhua Business Service Advisory Co., Ltd. the PRC RMB 500,000 - - 100 % Business Nantong Shenfanlian Enterprise Management Co., Ltd. the PRC RMB 5,000,000 - - 100 % Enterprise Management Jiaxing Fanhua Enterprise Management Advisory Co., Ltd. the PRC RMB 500,000 - - 100 % Enterprise Management Baoding Fanjie Financial Advisory Co., Ltd. the PRC RMB 500,000 - - 100 % Financial Consultancy Shenzhen Fancheng Business Operation Management Partnership (Limited Partnership) the PRC RMB 500,000,000 RMB 36,210,000 - 100 % Enterprise Management Fanxiaoxuan Cultural Media (Guangzhou) Co., Ltd. the PRC RMB 1,000,000 - - 100 % Enterprise Management Name of company Place and establishment Registered capital Issued and fully Percentage of equity attributable to the Group Principal activities Direct Indirect Guangzhou Fanze Information Technology Co., Ltd. the PRC RMB 10,000,000 - - 100 % Software development and maintenance Langfang Fanhua Technology Co., Ltd. the PRC RMB 200,000 - - 100 % Software development and maintenance Shenyang Fanhua Financial Advisory Co., Ltd. the PRC RMB 1,000,000 - - 100 % Financial consultancy Variable interest entities ("VIEs") An entity is a variable interest entity (VIE) if it meets the criteria outlined in Accounting Standards Codification (ASC) Topic 810, Consolidation, which are (i) the entity has equity that is insufficient to permit the entity to finance its activities without additional subordinated financial support from other parties; or (ii) the entity has equity investors that cannot make significant decisions about the entity's operations or that do not absorb their proportionate share of the entity's expected losses or expected returns. The Group consolidates a VIE when it has both the power to direct the activities that most significantly impact the VIE's economic performance and a right to receive benefits or the obligation to absorb losses of the entity that could be potentially significant to the VIE (that is, the Group is the primary beneficiary). In addition to variable interests held in consolidated VIEs, the Group has variable interests in other VIEs that are not consolidated because the Group is not the primary beneficiary. However, these VIEs and all other unconsolidated VIEs are monitored by the Group to assess whether any events have occurred to cause its primary beneficiary status to change. All other entities not deemed to be VIEs with which the Group has involvement are evaluated for consolidation under other subtopics of ASC 810. In the normal course of business, the Group engages in a variety of activities with VIEs. The Group determines whether it is the primary beneficiary of a VIE at the time it becomes involved with the variable interest entity and reconsiders that conclusion continually. In evaluating whether the Group is the primary beneficiary, the Group evaluates its economic interests in the entity. If the Group is determined to be the primary beneficiary of a VIE, it must account for the VIE as a consolidated subsidiary. If the Group is determined not to be the primary beneficiary of a VIE, such VIE is not consolidated. The Group has segregated its involvement with VIEs between those VIEs which are consolidated and those VIEs which are not consolidated. Consolidated VIEs The Group grants loans to customers through structured funds set up by trust companies. The assets of the structured funds can only be used to settle obligations of consolidated VIEs. The cash of structured funds represents that funds established by the institutional trust companies through segregated bank accounts, including structured funds that are partially funded by the Group's own capital. The cash and cash equivalents of structured funds amounted to RMB2,457,242,507 and RMB1,073,209,525 as of December 31, 2018 and 2019 respectively can only be used to grant loans. The Group is general partner of the funds, promising the expected returns for limited partners, and providing credit enhancement on the loans to customers under the funds. The Group is also the manager of the funds, having the approval role for the loan origination and modification within the structured funds. The Group is the primary beneficiary of the funds as it has the power to direct the activities that most significantly impact the economic performance of the funds and it has obligation to absorb losses of the funds that could potentially be significant to the funds or the right to receive benefits from the funds that could potentially be significant to the funds. Starting in March 2018, the Group has been working with trust companies to implement new funding arrangements. Under credit strengthening arrangements, the Group no longer provides credit enhancement on the loans to customers under the structured funds except for current outstanding loans under the existing trust products and loans to be granted thereunder. However, the Group still promises expected returns for limited partners under credit strengthening arrangements, which exposes the Group to obligation to absorb losses of the funds that could potentially be significant to the funds. The Group is still the manager of the structured funds, which gives the Group the power to direct the activities that most significantly impact the economic performance of the funds. The structured funds are not taxpayers according to PRC tax law. The Group consolidates the structured funds as it is the primary beneficiary of the funds as of December 31, 2018 and 2019. Shenzhen Taotaojin Internet Financial Services Company Limited Shenzhen Taotaojin Internet Financial Services Company Limited ("Taotaojin") was established in Shenzhen in 2014 with registered capital of RMB50 million. Taotaojin operates a peer-to-peer (P2P) online lending platform in China. The Group invested RMB50 million share capital into Taotaojin through the two shareholders who hold the equity interests in Taotaojin on behalf of the Group. There is no recourse to the Group. Pursuant to the agreements between the Group and the two shareholders, the two shareholders are not entitled to direct the activities that significantly impact Taotaojin's assets, operation and obligations. And the two shareholders authorized representatives designated by the Group to exercise all shareholders rights on the board. The shareholders of the Taotaojin also have irrevocably granted the Group an exclusive option to purchase, or have its designated person or persons to purchase, at its discretion, to the extent permitted under PRC law, all or part of such shareholders' equity interests in Taotaojin. Therefore, the Group has the power to direct the activities of Taotaojin that most significantly impact the economic performance based on its rights authorized by the shareholders. In addition, the Group has obligation to absorb losses of Taotaojin that could potentially be significant to Taotaojin as a result of the capital contributed through the loans to shareholders and other financial supports through intercompany transactions. The Group consolidates Taotaojin as it is a primary beneficiary of Taotaojin, the Group sold Taotaojin and its subsidiaries in September, 2017, to Shenzhen Dongfang Baoying Investments Co., Ltd., at consideration of RMB215,000,000. The Group recognized a pre-tax gain of RMB2,336,201 related to the sale. The table sets forth the investments in the consolidated VIEs by the Group as of December 31, 2019. Name of structured funds Place and establishment Principal Jinghua Structured Fund 5 菁华号信托计划 the PRC Micro credit Jinghua Structured Fund 6 菁华号信托计划 the PRC Micro credit Bohai Trust Shenfanlian Micro Finance Structured Fund 渤海信托深泛联小微金融集合资金信托计划 the PRC Micro credit Bohai Huihe SME Structured Fund 渤海汇和中小微企业经营贷集合资金信托计划 the PRC Micro credit Zhongyuan Wealth Anhui Structured Fund 1 中原财富安惠期 the PRC Micro credit Zhongyuan Wealth Anhui Structured Fund 2 中原财富安惠期 the PRC Micro credit Beijing Fanhua Micro-credit Company Limited 北京泛华小额贷款有限公司 the PRC Micro credit and mortgage agency services No.27 Jinghua Structured Fund 菁华号信托计划 the PRC Micro credit No.29 Jinghua Structured Fund 菁华号信托计划 the PRC Micro credit Yuecai Loan Structured Arrangement 粤财网贷合作计划 the PRC Micro credit Zhonghai Lanhai Structured Fund 1 中海信托蓝海号集合资金信托计划 the PRC Micro credit Bairui Hengyi No.613 Structured Fund 百瑞恒益号集合资金信托计划 the PRC Micro credit Bohai Trust No.1 Huiying Structured Fund 渤海惠盈号集合资金信托计划 the PRC Micro credit Bohai Trust No.2 Shenzhen Fanhua United Structured Fund 渤海信托深泛联号集合资金信托计划 the PRC Micro credit Name of structured funds Place and establishment Principal Everbright No.1 Business Acceleration Structured Fund 光大助业号集合资金信托计划 the PRC Micro credit Jinghua Structured Fund 1 外贸信托菁华号集合资金信托计划 the PRC Micro credit Zhonghai Lanhai Structured Fund 1-2 中海信托蓝海号集合资金信托计划 the PRC Micro credit Zhonghai Lanhai Structured Fund 1-3 中海信托蓝海号集合资金信托计划 the PRC Micro credit Hunan Structured Fund 2019-1 湖南信托2019-1集合资金信托计划 the PRC Micro credit Hunan Structured Fund 2019-2 湖南信托集合资金信托计划 the PRC Micro credit Shaanxi International Xinglong Structured Fund 1-1 the PRC Micro credit Shaanxi International Xinglong Structured Fund 2-1 陕国投·兴隆号集合资金信托计划 the PRC Micro credit Bairui Hengyi No.711 Structured Fund 百瑞恒益号集合资金信托计划 the PRC Micro credit Zhonghai Lanhai Structured Fund 1-4 中海信托蓝海号集合资金信托计划 the PRC Micro credit Zhongyuan Wealth Anhui Structured Fund 49 中原信托安惠期 the PRC Micro credit Bairui Hengyi No.724 Structured Fund 百瑞恒益号集合资金信托计划 the PRC Micro credit Zhonghai Lanhai Structured Fund 1-5 中海信托蓝海号集合资金信托计划 the PRC Micro credit Zhonghai Lanhai Structured Fund 1-6 中海信托蓝海号集合资金信托计划 the PRC Micro credit No. 50 Jinghua Structured Fund 外贸信托菁华号资管计划 the PRC Micro credit No. 70 Jinghua Structured Fund the PRC Micro credit and idle funds management services The table sets forth the assets and liabilities of the consolidated VIEs included in the Group's consolidated balance sheets: December 31, 2018 2019 RMB RMB Cash and cash equivalents 2,556,453,812 1,075,146,003 Loans principal, interest and financing service fee receivables 14,693,474,990 10,096,892,280 Available-for-sale investments 270,497,995 865,685,426 Deferred tax assets 216,380 167 Other assets 192,135,492 538,987,372 Total assets 17,712,778,669 12,576,711,248 Interest-bearing borrowings 12,552,191,338 7,090,260,790 Income taxes payable 956,881 642,912 Other liabilities 772,026,076 1,592,662,264 Total liabilities 13,325,174,295 8,683,565,966 The table sets forth the results of operations of the VIEs included in the Group's consolidated statements of comprehensive income: 2017 2018 2019 RMB RMB RMB Revenues 3,247,097,840 4,030,796,059 2,939,040,096 Net income 1,074,500,910 910,293,862 663,949,174 The table sets forth the cash flows of the VIEs included in the Group's consolidated statements of cash flows: 2017 2018 2019 RMB RMB RMB Net cash provided by/ (used in) operating activities 3,858,370,455 367,720,114 (426,302,852 ) Net cash (used in)/provided by investing activities (8,905,181,155 ) 274,412,708 4,207,318,357 Net cash provided by/ (used in) financing activities 5,916,858,297 909,251,326 (5,262,323,314 )

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Principles of consolidation The accompanying consolidated financial statements include the financial statements of the Group, its subsidiaries and consolidated VIEs. All intercompany transactions and balances have been eliminated in consolidation. The Group accounts for investments over which it has significant influence but not a controlling financial interest using the equity method of accounting. (b) Currency translation for financial statements presentation The Group uses Renminbi ("RMB") as its reporting currency. The United States Dollar ("USD") is the functional currency of the Company incorporated in Cayman and the Group's subsidiary Sincere Fame incorporated in British Virgin Islands, and the Hong Kong Dollar("HKD") is the functional currency of the Group's subsidiary China Financial Services Group Limited incorporated in Hong Kong and the RMB is the functional currency of the Group's PRC subsidiaries. The financial statements of the Group are translated from the functional currency to the reporting currency, RMB. Assets and liabilities of the subsidiaries are translated into RMB using the exchange rate in effect at each balance sheet date. Income and expenses items are generally translated at the average exchange rates prevailing during the fiscal year. Foreign currency translation adjustments arising from these are accumulated as a separate component of shareholders' deficit on the consolidated financial statements. The resulting exchange differences are recorded in the consolidated statements of comprehensive income/(losses). (c) Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include, allowance for loans principal, interest and financing service fee receivables, the valuation allowance for deferred tax assets, unrecognized tax benefits, the indefinite reinvestment assertion, the fair value of available-for-sale investments and the fair value of share-based compensation. (d) Revenue recognition Interest and financing service fee on loans which are amortized over the contractual life of the related loans are recognized in consolidated statements of comprehensive income in accordance with ASC 310 using the effective interest method. Mortgage agency service revenue, asset management revenue and revenue from rendering of services are recognized in accordance with ASC 606 when following conditions are met: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The criteria of revenue recognition as they relate to each of the following major revenue generating activities are described below: (i) Interest and financing service fee on loans Interest and financing service fee on loans, which include financing service fee on loans, are collected from borrowers for loans and related services. Interest and financing service fee on loans includes the amortization of any discount or premium or differences between the initial carrying amount of an interest-bearing asset and its amount at maturity calculated using the effective interest basis. The effective interest method is a method of calculating the amortized cost of a financial asset and of allocating the interest and financing service fee on loans over the years. The effective interest rate is the rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial instrument. When calculating the effective interest rate, the Group estimates cash flows considering all contractual terms of the financial instrument but does not consider future credit losses. Interest on the impaired assets is recognized using the rate of interest used to discount future cash flows. (ii) Mortgage agency service revenue and asset management revenue The Group earns mortgage agency service revenue from providing mortgage agency services to borrowers applying for a bank loan. Mortgage agency service fee is often received immediately or shortly after establishing contracts with customers. This kind of revenue is recognized at the time when loan is granted as that is the point of time the Group fulfils the customer's request, and is then recognized on an accrual basis in accordance with the terms of the relevant agreements. The Group receives asset management revenue from providing asset management services for investors. The asset management revenue is calculated and accrued on a daily basis based on the daily net asset values of the asset management products under management. (iii) Realized gains / (losses) on sales of investments Realized gains / (losses) consist of realized gains and losses from the sale of available-for-sale investments, presented on a net basis. (iv) Rendering of services In 2018 and 2019, the Group did not have income from rendering of services. In 2017, when the outcome of a transaction involving the rendering of services can be estimated reliably, revenue from the rendering of services is recognized by reference to the stage of completion of the transaction based on the services performed to date as a percentage of the total services to be performed. When the outcome of a transaction involving the rendering of services cannot be estimated reliably, revenue is recognized only to the extent of the costs incurred that it is probably recoverable. (e) Loans Loans are reported at their outstanding principal balances net of any unearned income and unamortized deferred fees and costs. Loan origination fees and certain direct origination costs are generally deferred and recognized as adjustments to income over the lives of the related loans. The Group facilitates credit to borrowers through structured funds which are considered as consolidated VIEs and the Group evaluated VIEs for consolidation in accordance with ASC 810 in the Consolidated VIEs Section of Note 1. Providing credit strengthening arrangement since March 2018 for the loans to customers under the funds is one of the key factors to determine that the Group should consolidate the structured funds as it is the primary beneficiary of the funds. As a result, the loan principal remains on the Group's consolidated balance sheets, whilst the funds received from senior tranches holders are recorded as Other Borrowings in the Group's consolidated balance sheets as disclosed in Note 12(b)(i). Non-accrual policies Loans principal, interest and financing service fee receivables are placed on non-accrual status when payments are 90 days contractually past due. When a loan principal, interest and financing service fee receivable is placed on non-accrual status, financing service fees accrual ceases. If the loan is non-accrual, the cost recovery method is used and cash collected is applied to first reduce the carrying value of the loan. Otherwise, interest income may be recognized to the extent cash is received. Loans principal, interest and financing service fee receivables may be returned to accrual status when all of the borrower's delinquent balances of loans principal, interest and financing service fee have been settled and the borrower continue to perform in accordance with the loan terms for a period of at least six months. Charge-off policies Loans principal, interest and financing service fee receivables are charged off when the Group has determined the remaining balance is uncollectable after exhausting all collection efforts. In order to comply with ASC 310, the Group considers loans principal, interest and financing service fee receivables meeting any of the following conditions as uncollectable and charged-off: (i) death of the borrower; (ii) identification of fraud, and the fraud is officially reported to and filed with relevant law enforcement departments or (iii) the Group concludes that it has exhausted its collection efforts. Allowance for credit losses Allowance for credit losses represents management's best estimate of probable losses inherent in the portfolio. The allowance for credit losses includes an asset-specific component and a statistically based component. The asset-specific component is calculated under ASC 310-10-35, on an individual basis for the loans whose payments are contractually past due more than 90 days or which are considered impaired. An asset-specific allowance is established when the discounted cash flows, collateral value (less disposal costs) or observable market price of the impaired loan are lower than its carrying value. This allowance considers the borrower's overall financial condition, resources, and payment record, the prospects for support from any financially responsible guarantors and, if appropriate, the realizable value of any collateral. The allowance for the remainder of the loan portfolio is determined under ASC 450 using a roll rate-based model. The roll rate-based model stratifies the loan principal, interest and financing service fee receivables by delinquency stages which are divided by days overdue and projected forward in next stage using probability of default. In each stage of the simulation, losses on the loan principal, interest and financing service fee receivables types are captured, and the ending delinquency stratification serves as the beginning point of the next iteration. This process is repeated on a monthly rolling basis. The loss rate calculated for each delinquency stage using loss given default, then applied to the respective loan principal, interest and financing service fees balance. The Group adjusts the allowance that is determined by the roll rate-based model for various Chinese macroeconomic factors (i.e. gross-domestic product rates, interest rates and consumer price indexes). Each of these macroeconomic factors are equally weighted, and a score is applied to each factor based on year-on-year increases and decreases in that respective factor. Loans held-for-sale Loans held-for-sale are measured at the lower of cost or fair value, with valuation changes recorded in noninterest revenue. The valuation is performed on an individual loan basis. Loan origination fees or costs and purchase price discounts or premiums are deferred in a contra loan account until the related loan is sold. The deferred fees or costs and discounts or premiums are an adjustment to the basis of the loan and therefore are included in the periodic determination of the lower of cost or fair value adjustments and/or the gain or loss recognized at the time of sale. (f) Cash and cash equivalents Cash and cash equivalents primarily consist of cash, deposits which are highly liquid and all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. The Company considers highly liquid investments that are readily convertible to known amounts of cash. (g) Available-for-sale ("AFS") investments The Group classifies wealth management products and asset management products as available-for-sale ("AFS") investments. AFS investments are recorded at fair value. Unrealized holding gains and losses, net of the related tax effect, on AFS investments are excluded from earnings and are reported as a separate component of accumulated other comprehensive income until realized. Realized gains and losses from the sale of AFS investments are determined on a specific identification basis and are recorded as realized gains/(losses) on sales of investments. Interest and investment income are recognized when earned. (h) Property and equipment Property and equipment are stated at cost. Depreciation on equipment is calculated on the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized over the shorter of the economic useful life of the improvement or the term of the lease. The estimated useful life of office and other equipment range from 1 to 5 years, the estimated useful life of leasehold improvements or the term of the lease range from 1 to 6 years, while the estimated useful lives of motor vehicles range from 3 to 8 years. (i) Goodwill Goodwill is an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Impairment tests for cash-generating units containing goodwill The Group assesses goodwill for impairment at the reporting unit level at least annually and more frequently upon the occurrence of certain events. The Group has the option to assess qualitative factors first to determine whether it is necessary to perform the two-step test. If the Group believes, as a result of the qualitative assessment, that it is more-likely-than-not that the fair value of the reporting unit is less than its carrying amount, the two-step quantitative impairment test described above is required. Otherwise, no further testing is required. In the qualitative assessment, the Group considers primary factors such as industry and market considerations, overall financial performance of the reporting unit, and other specific information related to the operations. In performing the two-step quantitative impairment test, the first step compares the carrying amount of the reporting unit to the fair value of the reporting unit based on either quoted market prices of the ordinary shares or estimated fair value using a combination of the income approach and the market approach. If the fair value of the reporting unit exceeds the carrying value of the reporting unit, goodwill is not impaired and the Group is not required to perform further testing. If the carrying value of the reporting unit exceeds the fair value of the reporting unit, then the Group must perform the second step of the impairment test in order to determine the implied fair value of the reporting unit's goodwill. The fair value of the reporting unit is allocated to its assets and liabilities in a manner similar to a purchase price allocation in order to determine the implied fair value of the reporting unit goodwill. If the carrying amount of the goodwill is greater than its implied fair value, the excess is recognized as an impairment loss. (j) Intangible assets Indefinite-lived intangible assets are assets that are not amortized because there is no foreseeable limit to cash flows generated from them. Intangible assets with finite useful lives are amortized on a straight line basis over their estimated useful lives. The Group categorizes trademarks as indefinite-lived intangible assets, whose carrying value is RMB2.97 million. If it is more likely than not that the asset is impaired, the Group records the amount that the carrying value exceeds the fair value as an impairment expense. The Group performed its annual impairment review of indefinite-lived intangible assets on December 31, 2018 and 2019 and determined that it is more likely than not that the carrying values were less than the fair values. Intangible assets with finite useful lives represent software and cooperation agreements, the estimated useful lives of which are 1 to 5 years and 5 years, respectively. As of December 31, 2018 and 2019, accumulated amortization were RMB12,518,252 and RMB13,052,565, respectively. (k) Income tax Income tax is accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and for operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Group recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50 percent likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Group classifies interest and penalties related to the liability for unrecognized tax benefits as income tax expense. (l) Employee benefit plans Pursuant to relevant PRC regulations, the Group is required to make contributions to various employee benefit plans organized by municipal and provincial PRC governments. The contributions are made for each PRC employee at statutory rates as determined by local social security bureau. Contributions to the employee benefit plans are charged to the consolidated statements of income. The Group has no obligations for payment of pension benefits associated with the plans beyond the amount it is required to contribute. (m) Long-lived assets Long-lived assets, such as property and equipment, and purchased intangible assets subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, the Group first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying amount. If the carrying amount of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying amount exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary. (n) Share-based compensation The Group measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award and recognizes the cost over the period the employee is required to provide service in exchange for the award, which generally is the vesting period. The Group recognizes compensation cost for an award with only service conditions that have a graded vesting schedule on a straight-line basis over the requisite service period for the entire award, net of estimated forfeitures, provided that the cumulative amount of compensation cost recognized at any date at least equals the portion of the grant-date value of such award that is vested at that date. Forfeiture rates are estimated based on historical and future expectations of employee turnover rates. (o) Operating leases Leases where substantially all the rewards and risks of ownership of assets remain with the lessor are accounted for as operating leases. The Group's operating leases are recognized on a straight-line basis over the lease term. Certain of the operating lease agreements contain rent holidays. Rent holidays are considered in determining the straight-line rent expense to be recorded over the lease term. (p) Repurchase agreements Financial assets sold under agreements to repurchase do not constitute a sale of the underlying financial assets for accounting purposes and are treated as collateralized financing transactions. Financial assets sold under agreements to repurchase are recorded at the amount of cash received plus accrued interest. Interest paid on agreements to repurchase is recorded in interest expense at the contractually specified rate. (q) Commitments and contingencies Liabilities for loss contingencies arising from claims, assessments, litigation, fines, and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred. (r) Fair value measurements The Group uses valuation approaches that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Group determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels in accordance with ASU 2011-04 (see Note 7 to the consolidated financial statements): ● Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date. ● Level 2 Inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. ● Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date. The level in the fair value hierarchy within which a fair value measurement in its entirety falls is based on the lowest level input that is significant to the fair value measurement in its entirety. In situations where there is little, if any, market activity for the asset or liability at the measurement date, the fair value measurement reflects management's own judgments about the assumptions that market participants would use in pricing the asset or liability. Those judgments are developed by management based on the best information available in the circumstances. (s) Earnings per share Basic earnings per share is computed by dividing net income attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period. Diluted earnings per share is calculated by dividing net income attributable to ordinary shareholders by the weighted average number of ordinary and dilutive ordinary equivalent shares outstanding during the period. Ordinary equivalent shares are not included in the denominator of the diluted earnings per share calculation when inclusion of such shares would be anti-dilutive. For purposes of calculating basic earnings per share for the years ended December 31, 2018 and 2019, the weighted average number of shares used in the calculation has been retroactively adjusted to reflect the incorporation of the Company and the Reorganization (see Note 1), as if these events had occurred at the beginning of the earliest period presented and these shares had been outstanding for all periods. (t) Segment reporting The Group uses the management approach in determining its operating segments. The management approach considers the internal reporting used by the Group's chief operating decision maker for making decisions about the allocation of resources to and the assessment of the performance of the segments of the Group, therefore the management has determined that the Group has one operating segment. All of the Group's operations and customers are located in the PRC. Consequently, no geographic information is presented. (u) Recently adopted accounting standards In February 2016, the FASB established Topic 842, Leases, by issuing Accounting Standards Update (ASU) No. 2016-02, which requires lessees to recognize leases on-balance sheet and disclose key information about leasing arrangements. Topic 842 was subsequently amended by ASU No. 2018-01, Land Easement Practical Expedient for Transition to Topic 842; ASU No. 2018-10, Codification Improvements to Topic 842, Leases; and ASU No. 2018-11, Targeted Improvements. The Group adopted the new standard on its effective date, January 1, 2019. In addition, the Group elected the package of practical expedients permitted under the transition guidance within the new standard, which allowed the Group to (1) not reassess whether any expired or existing contracts are or contain leases; (2) not reassess the lease classification for any expired or existing leases; (3) not reassess initial direct costs for any existing leases; (4) not separate lease components from non-lease components for any expired or existing leases; and (5) exclude short-term leases (leases with original terms of 12 months or less) from the ROU assets and lease liabilities. Furthermore, the Company elected the effective date transition method and continued to apply the guidance in ASC 840, including its disclosure requirements, in the comparative prior year periods. Accordingly, previously reported financial statements, including footnote disclosures, have not been recast to reflect the application of the new standard to all comparative periods presented. Upon the adoption date, the Group recognized RMB120.96 million of ROU assets, none of which was impaired, and the same amount of lease liabilities on its consolidated balance sheets. The adoption of the ASUs did not have a material impact on the consolidated statement of operations or the consolidated statement of cash flows. (v) Recently issued accounting standards Accounting for Financial Instruments – Credit Losses In June 2016, the FASB amended guidance related to impairment of financial instruments as part of ASU 2016-13, Financial Instruments - Credit Losses (Topic 326). The guidance replaces the incurred loss impairment methodology with an expected credit loss model for which a company recognizes an allowance based on the estimate of expected credit loss. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. For public companies, the update is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years. On January 1, 2020, the Group adopted the new accounting standard. The Group's lifetime expected credit losses are determined using macroeconomic forecast assumptions and management judgments applicable to and through the expected life of the loan portfolios, and are net of expected recoveries on loans that were previously charged off. The standard also expands credit quality disclosures beginning in the first quarter of 2020. While the standard changes the measurement of the allowance for credit losses, it does not change the Group's credit risk of its lending portfolios or the ultimate losses in those portfolios. Upon adoption of the standard on January 1, 2020, the Group recorded an RMB23.83 million, or 1.61 percent, increase to the allowance for credit losses. After adjusting for income tax effects, an RMB17.87 million decrease was recorded in retained earnings through a cumulative-effect adjustment. Prior to the adoption, the Group used the roll rate-based model for the measurement of credit losses and had been working through the implementation of the new standard. In that regard, the Group (1) formed a cross-functional working group under the direction of the risk management department, (2) evaluated data sources and made process updates to capture additional relevant data, and (3) identified a service provider to perform the calculation. The working group was comprised of individuals from various functional areas including credit, risk management, finance and information technology. The implementation plan includes, but was not limited to, an assessment of processes, portfolio segmentation, model development, system requirements and the identification of data and resource needs. Fair Value Measurement: Disclosure Framework In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework (Topic 842) - Changes to the Disclosure Requirements for Fair Value Measurement, which modify the disclosure requirements on fair value measurement by removing, modifying, or adding certain disclosures. The amendments improve the effectiveness of disclosures in the notes to financial statements modify the disclosure requirements on fair value measurements in Topic 820. This ASU requires disclosure of the changes in unrealized gains or losses included in OCI for Level 3 assets or liabilities held at the end of the period and the range and weighted-average of the significant unobservable inputs used in determining the fair value of Level 3 assets and liabilities. The amendments also remove the requirement to disclose the transfers between Level 1 and Level 2 of the fair value hierarchy, timing of transfers between levels, and the valuation process for determining Level 3 fair value measurements. The amendments in this update are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Group adopted the standard on January 1, 2020. The Group has not historically recorded material amounts of Level 3 assets and liabilities or material transfers of assets or liabilities between levels within the fair value hierarchy and therefore does not anticipate the adoption to have any material impact on the financial statement disclosures. Income Taxes – Simplifying the Accounting for Income Taxes In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes, as part of its initiative to reduce complexity in accounting standards. The amendments in the ASU are effective for fiscal years beginning after December 15, 2020, including interim periods therein. Early adoption of the standard is permitted, including adoption in interim or annual periods for which financial statements have not yet been issued. The Group has not early adopted this ASU for 2019. The ASU is currently not expected to have a material impact on the Group's consolidated financial statements.

Disposal of Subsidiaries

Disposal of Subsidiaries	12 Months Ended
Disposal of Subsidiaries	Dec. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
DISPOSAL OF SUBSIDIARIES	3. DISPOSAL OF SUBSIDIARIES Disposals for the year ended December 31, 2017 In 2017, the Group sold its asset management business, its peer-to-peer platform and its labour outsourcing business, all of which were non-core to the Group's business, to third parties. The Group received a total consideration of RMB284,550,000 and recognized a total gain of RMB6,060,758 related to the sale. Since the disposal of the subsidiaries did not represent a strategic shift that would have a major effect on the Group's operations and financial results, it was not reflected as discontinued operations. Effect of disposal on the financial position of the Group Aggregated carrying value as of the disposal dates RMB Cash and cash equivalents 10,532,048 Loans principal, interest and financing service fee receivables 28,221,115 Available-for-sale investments 33,616,143 Interest in equity method investee 20,450,000 Property and equipment 3,653,157 Intangible assets and goodwill 23,333 Deferred tax assets 12,779,966 Other assets 320,606,280 Accrued employee benefits (2,294,431 ) Income tax payable (14,785,506 ) Other liabilities (134,312,863 ) Net assets and liabilities 278,489,242

Fair Value Measurements

Fair Value Measurements	12 Months Ended
Fair Value Measurements	Dec. 31, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	4. FAIR VALUE MEASUREMENTS Fair Value Hierarchy FASB ASC 820 defines fair value, establishes a framework for measuring fair value, and establishes a hierarchy of fair value inputs. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market. Valuation techniques that are consistent with the market, income or cost approach, as specified by FASB ASC 820, are used to measure fair value. Fair Value Measurements A description of the valuation techniques applied to the Group's major categories of assets and liabilities measured at fair value on a recurring basis as follows. The Group determines fair value primarily based on pricing sources with reasonable levels of price transparency. Where quoted prices are available in an active market, the Group classifies the securities within Level 1 of the valuation hierarchy. If quoted market prices are not available, fair values are primarily determined using pricing models using observable trade data, market data, quoted prices of securities with similar characteristics or discounted cash flows. Such instruments would generally be classified within Level 2 of the valuation hierarchy. As of December 31, 2019, available-for-sale investments are valued based on prices per units quoted by issuers. They are categorized in level 2 of the fair value hierarchy. Loans held-for-sale are carried at the lower of cost or fair value. Loans used in trading business are recorded at fair value on a recurring basis, and the fair value is based on current offerings in secondary markets for loans. They are categorized in level 2 of the fair value hierarchy. The following table presents the Group's fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of December 31, 2018 and 2019. December 31, 2019 Fair value Level 1 Level 2 Level 3 RMB RMB RMB RMB Asset management products 20,020,456 - 20,020,456 - Wealth management products 634,307,598 - 634,307,598 - Loans held-for-sale 66,698,869 - 66,698,869 - Total 721,026,923 - 721,026,923 - December 31, 2018 Fair value Level 1 Level 2 Level 3 RMB RMB RMB RMB Wealth management products 682,252,159 - 682,252,159 - Loans held-for-sale - - - - Total 682,252,159 - 682,252,159 - During the years ended December 31, 2018 and 2019, there were no transfers between instruments in Level 1 and Level 2. The Group does not have level 3 instruments as of December 31, 2018 or 2019.

Cash and Cash Equivalents

Cash and Cash Equivalents	12 Months Ended
Cash and Cash Equivalents	Dec. 31, 2019
Cash and Cash Equivalents [Abstract]
CASH AND CASH EQUIVALENTS	5. CASH AND CASH EQUIVALENTS Cash and cash equivalents represent cash on hand and bank deposits. To limit exposure to credit risk relating to bank deposits, the Group primarily places bank deposits with large financial institutions in the PRC with acceptable credit rating. As of December 31, 2018 and 2019, the Group had cash balances at two and three PRC individual financial institutions, respectively, that held cash balances in excess of 10% of the Group's total cash balances. These bank deposits collectively accounted for 85% and 84% of the Group's total cash balances as of December 31, 2018 and 2019, respectively. The nominal holders of certain bank accounts of the Group are employees of the Group. The Group has entered agreements with these employees which stipulate that the funds held in these bank accounts are owned and managed by the Group. Cash balances of such accounts collectively accounted for 0.63% and 1.09% of the Group's total cash balances as of December 31, 2018 and 2019, respectively.

Loans Principal, Interest and F

Loans Principal, Interest and Financing Service Fee Receivables	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
LOANS PRINCIPAL, INTEREST AND FINANCING SERVICE FEE RECEIVABLES	6. LOANS PRINCIPAL, INTEREST AND FINANCING SERVICE FEE RECEIVABLES December 31, Note 2018 2019 RMB RMB Loans principal, interest and financing service fee receivables 15,861,324,470 11,366,097,286 Less: allowance for credit losses (a) - Individually assessed (157,157,377 ) (670,281,312 ) - Collectively assessed (705,881,227 ) (437,797,117 ) Subtotal (863,038,604 ) (1,108,078,429 ) Net loans principal, interest and financing service fee receivables 14,998,285,866 10,258,018,857 (a) Allowance for credit losses The table below presents the components of allowances for loans principal, interest and financing service fee receivables by impairment methodology with the recorded investment as of December 31, 2019 and 2018. 2019 Allowance for loans which are collectively assessed Allowance assessed Total RMB RMB RMB As of January 1 705,881,227 157,157,377 863,038,604 Provision for credit losses (193,390,841 ) 556,126,000 362,735,159 Charge-offs (174,997,524 ) (43,002,065 ) (217,999,589 ) Loss recoveries 100,304,255 - 100,304,255 Recoveries - - - As of December 31 437,797,117 670,281,312 1,108,078,429 Net loans principal, interest and financing service fee receivables 9,379,408,613 878,610,244 10,258,018,857 Recorded investment 9,817,205,730 1,548,891,556 11,366,097,286 2018 Allowance for loans which are collectively assessed Allowance assessed Total RMB RMB RMB As of January 1 341,599,744 98,736,342 440,336,086 Provision for credit losses 364,289,770 69,464,131 433,753,901 Charge-offs (8,287 ) (11,043,096 ) (11,051,383 ) Recoveries - - - As of December 31 705,881,227 157,157,377 863,038,604 Net loans principal, interest and financing service fee receivables 14,760,930,158 237,355,708 14,998,285,866 Recorded investment 15,466,811,385 394,513,085 15,861,324,470 The Group uses discounted cash flow method to estimate expected credit losses for loans individually assessed. Under the discounted cash flow method, the allowance for credit losses is estimated as the difference between amortized cost and the present value of cash flows expected to be collected. To collectively assess the expected credit losses for the remaining loans portfolios by each entity within the Group, the Group assesses allowance for credit losses using roll rate-based model, see Note 2(e) Loans. The Group charges off loans principal, interest and financing service fee receivables if the remaining balance is considered uncollectable after exhausting all collection efforts. Recovery of loans principal, interest and financing service fee receivables previously charged off would be recorded when received. For the description of the Group's related accounting policies of allowance for credit losses, see Note 2(e) Loans. (b) Loan delinquency and non-accrual details The following tables present the aging of past-due loan principal and financing service fee receivables as of December 31, 2019. Total current 1–30 days past due 31–90 days past due 91–180 days past due >180 days past due Total loans Total non-accrual 90 days past due and accruing RMB RMB RMB RMB RMB RMB RMB RMB Loans principal, interest and financing service fee receivables 8,895,877,818 596,669,455 240,667,057 341,220,681 1,291,662,275 11,366,097,286 1,632,882,956 - The following tables present the aging of past-due loan principal and financing service fee receivables as of December 31, 2018. Total current 1–30 days past due 31–90 days past due 91–180 days past due >180 days past due Total loans Total non-accrual 90 days past due and accruing RMB RMB RMB RMB RMB RMB RMB RMB Loans principal, interest and financing service fee receivables 12,929,493,099 1,031,203,259 1,484,689,974 159,343,805 256,594,333 15,861,324,470 415,938,138 - Loans principal, interest and financing service fee receivables are placed on non-accrual status when payments are 90 days contractually past. Any interest accrued on non-accrual loans is reversed at 90 days and charged against current earnings, and interest is thereafter included in earnings only to the extent actually received in cash. When there is doubt regarding the ultimate collectability of principal, all cash receipts are thereafter applied to reduce the recorded investment in the loan. (c) Impaired loans (1) Impaired loans summary Recorded investment Unpaid principal balance Impaired loans Impaired loans with related allowance for credit losses Impaired loans without related allowance for credit losses Related allowance for credit losses RMB RMB RMB RMB RMB As of December 31, 2019 1,652,782,208 1,632,882,956 1,378,790,678 254,092,278 670,281,312 As of December 31, 2018 417,625,050 415,938,138 358,477,762 57,460,376 157,157,377 In accordance with ASC 310-10-35-16 and 17, impaired loans are those loans where the Group, based on current information and events, believes it is probable all amounts due according to the contractual terms of the loan will not be collected. All amounts due according to the contractual terms means that both the contractual interest payments and the contractual principal payments of a loan will be collected as scheduled in the loan agreement. Impaired loans without an allowance generally represent loans that the fair value of the underlying collateral meets or exceeds the loan's amortized cost. (2) Average recorded investment in impaired loans Years ended December 31, 2018 2019 Average recorded investment (i) Interest and fees income recognized (ii) Average recorded investment (i) Interest and fees income recognized (ii) RMB RMB RMB RMB Impaired loans 335,515,156 26,786,527 1,379,536,563 81,694,043 (i) Average recorded investment represents ending balance for the last four quarters and does not include the related allowance for credit losses. (ii) The interest and fees income recognized are those interest and financing service fee recognized related to impaired loans. All the amounts are recognized on cash basis. No debt restructuring in which contractual terms of loans are modified, has occurred during 2018 and 2019. The Group transferred RMB184,621,473 and RMB497,001,089 in carrying amount of loans to third party investors and recorded the transfers as sales for the years ended December 31, 2018, and 2019 respectively. The Group recognized net loss of RMB16,697,259 from transfers accounted for as sales of loans for the year ended December 31, 2018, and recognized net gain of RMB75,959,140 for the year ended December 31, 2019. The Group carries out pre-approval, review and credit approval of loans by professionals for credit risk arising from micro credit business. During the post-transaction monitoring process, the Group conducts a visit of customers regularly after disbursement of loans, and conducts on-site inspection when the Group considers it is necessary. The review focuses on the status of the collateral. The Group adopts a loan risk classification approach to manage the loan portfolio risk. Loans are classified as non-impaired and impaired based on the different risk level. When one or more event demonstrates there is objective evidence of impairment and causes losses, corresponding loans are considered to be classified as impaired. The allowance for credit losses on impaired loans are collectively or individually assessed as appropriate. The Group applies a series of criteria in determining the classification of loans. The loan classification criteria focuses on a number of factors, including (i) the borrower's ability to repay the loan; (ii) the borrower's repayment history; (iii) the borrower's willingness to repay; (iv) the net realizable value of any collateral; and (v) the prospect for the support from any financially responsible guarantor. The Group also takes into account the length of time for which payments of principal and interest on a loan are overdue. (d) Loans held-for-sale Loans held-for-sale are measured at the lower of cost or fair value, with valuation changes recorded in noninterest revenue. The valuation is performed on an individual loan basis. Loans transferred to held-for-sale category were RMB120,822,552 (includes nil measured at fair value) and RMB370,700,724 (includes RMB66,698,869 measured at fair value) as at December 31, 2018 and 2019 respectively.

Available-for-Sale Investments

Available-for-Sale Investments	12 Months Ended
Available-for-Sale Investments	Dec. 31, 2019
Debt Securities, Available-for-sale [Abstract]
AVAILABLE-FOR-SALE INVESTMENTS	7. AVAILABLE-FOR-SALE INVESTMENTS The carrying amount, gross unrealized holding gains, gross unrealized holding losses, and fair value of AFS by major security type and class of security at December 31, 2019 and 2018 was as follows: Aggregate cost basis Total OTTI recognized in OCI Gross unrealized holding gains Gross unrealized holding (losses) Aggregate fair value RMB RMB RMB RMB RMB As of December 31, 2019: Asset management products 20,000,000 - 20,456 - 20,020,456 Wealth management products 634,100,000 - 207,598 - 634,307,598 Total 654,100,000 - 228,054 - 654,328,054 As of December 31, 2018: Wealth management products 680,000,000 - 2,252,159 - 682,252,159 The investments in asset management products include Pingan Huitong Anying Huifu Wutong NO.1 Asset Management Product ("the product"). The product principally invests in bonds listed and traded between banks and exchanges, monetary market instruments, treasury bonds, convertible or exchangeable bonds and other fixed income financial instruments. Wealth management products are investment products issued by commercial banks and other financial institutions in China. The wealth management products invest in a pool of liquid financial assets in the interbank market or exchange, including debt securities, asset backed securities, interbank lending, reverse repurchase agreements and bank deposits. The products can be redeemed on weekdays on demand. The Group has assessed each position for credit impairment. Factors considered in determining whether a loss is temporary include: ● The length of time and the extent to which fair value has been below cost; ● The severity of the impairment; ● The cause of the impairment and the financial condition and near-term prospects of the issuer; ● Activity in the market of the issuer which may indicate adverse credit conditions; ● The Group's ability and intent to hold the investment for a period of time sufficient to allow for any anticipated recovery. The Group's review for impairment generally entails: ● Identification and evaluation of investments that have indications of possible impairment; ● Analysis of individual investments that have fair values less than amortized cost, including consideration of the length of time the investment has been in an unrealized loss position and the expected recovery period; ● Discussion of evidential matter, including an evaluation of factors or triggers that could cause individual investments to qualify as having other-than-temporary impairment and those that would not support other-than-temporary impairment; and ● Documentation of the results of these analyses, as required under business policies.

Property and Equipment

Property and Equipment	12 Months Ended
Property and Equipment	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	8. PROPERTY AND EQUIPMENT December 31, 2018 2019 RMB RMB Office and other equipment 23,774,820 22,151,112 Leasehold improvements 25,062,449 21,636,662 Motor vehicles 1,655,768 1,580,101 Less: accumulated depreciation (31,326,808 ) (36,171,900 ) Total 19,166,229 9,195,975 Total depreciation expense for the years ended December 31, 2018 and 2019 was RMB12,985,972 and RMB10,382,987, respectively, of which was recorded in other expenses in each year.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	12 Months Ended
Intangible Assets and Goodwill	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS AND GOODWILL	9. INTANGIBLE ASSETS AND GOODWILL December 31, Note 2018 2019 RMB RMB Intangible assets (a) 4,176,244 3,738,338 (a) Intangible assets December 31, 2018 December 31, 2019 Gross carrying value Accumulated amortization Net carrying value Gross carrying value Accumulated amortization Net carrying value RMB RMB RMB RMB RMB RMB Amortized intangible assets: Software 8,694,496 (7,488,252 ) 1,206,244 8,790,903 (8,022,565 ) 768,338 Cooperation agreement 5,030,000 (5,030,000 ) - 5,030,000 (5,030,000 ) - Total amortized intangible assets 13,724,496 (12,518,252 ) 1,206,244 13,820,903 (13,052,565 ) 768,338 Unamortized intangible assets: Trademarks 2,970,000 2,970,000 Below table provides the current year and estimated future amortization expense for amortized intangible assets. The Group based its projections of amortization expense shown below on existing asset balances as of December 31, 2019. Future amortization expense may vary from these projections. Software RMB Year ended December 31, 2019 (actual) 534,313 Estimate for year ended December 31, 2020 521,157 2021 234,303 2022 12,878 2023 - 2024 -

Deposits

Deposits	12 Months Ended
Deposits	Dec. 31, 2019
Deposits [Abstract]
DEPOSITS	10. DEPOSITS Deposits include security deposits to landlords of rental premises and deposits to the China Trust Protection Fund. In accordance with relevant rules of the China Trust Protection Fund, 1% of the size of trust plans subscribed is deposited in the Fund.

Other Assets

Other Assets	12 Months Ended
Other Assets	Dec. 31, 2019
Other Assets [Abstract]
OTHER ASSETS	11. OTHER ASSETS December 31, Note 2018 2019 RMB RMB Guaranteed assets (i) - 100,304,255 Receivable from sale of loans (ii) 2,473,559 46,312,256 Equity securities (iii) 40,010,000 34,010,000 Less: impairment losses - - Amounts due from employees (iv) 10,126,228 10,026,151 Prepayments 6,741,881 6,850,294 Receivables for realization of collaterals 7,164,458 5,205,818 Receivable from private equity funds - Principal 21,350,000 - - Interest 4,523,205 - Other receivables 956,021 4,814,242 Total 93,345,352 207,523,016 (i) As described in Note 13, sales partners submit credit risk mitigation positions (or "CRMPs") to the Group as a guarantee for the loans under the collaboration model. When allowance for credit losses is recognized and accrued, the Group will evaluate if the loan loss recovery guaranteed by the CRMPs is probable and estimable. If the loss recovery is probable and estimable, the amount guaranteed by the CRMPs is recognized as guaranteed assets. (ii) As mentioned in Note 6(c), the Group transferred the delinquent loans to third parties so that the Group could collect the payment more quickly than to simply dispose the collaterals through litigation. The transferred loans have been isolated from the Group. There is no constrain on the transferee's rights to pledge or exchange. The Group does not maintain effective control of transferred loans and loan transfers accounted for as sales are the transfer transactions without repurchase agreements. (iii) In December 2013, the Group invested 10% of the paid-in capital in Guangzhou Huangpu Ronghe Village Bank Co., Ltd. ("Huangpu Ronghe"). As of December 31, 2018 and 2019, Huangpu Ronghe has paid-in capital of RMB100,000,000, and the Group has invested RMB10,000,000 in Huangpu Ronghe. In June 2016, the Group invested 10,003,334 shares at RMB3.00 per share, which represents 2.14% of the paid-in capital in Guangdong Qingyuan Rural Commercial Bank ("Qingyuan Rural"). The Group transferred 2 million shares to an unrelated third party at RMB3.00 per share that is same as the investment cost on September 18, 2019. As of December 31, 2018 and 2019, the Group invested 2.14% and 1.72% of the paid-in capital in Qingyuan Rural. Qingyuan Rural has paid-in capital of RMB1,400,000,000, and the Group has invested RMB30,010,000 and RMB24,010,000 in Qingyuan Rural, respectively. The Company's equity securities that do not have readily determinable fair values are measured at cost minus impairment and adjusted for changes in observable prices. Factors considered by the Group in determining fair value include, but are not limited to, available financial information, the issuer's ability to meet its current obligations and indications of the issuer's subsequent ability to raise capital. Under the updated standard ASU 2016-01, these investments are accounted for using the measurement alternative. No change in observable price has been identified and no impairment has recorded for the two years of 2018 and 2019. (iv) Due from employees mainly include temporary advances to employees for payments of collateral evaluation fee, mortgage handling fee, payments for office supplies, etc. on behalf of the Group.

Interest-Bearing Borrowings

Interest-Bearing Borrowings	12 Months Ended
Interest-Bearing Borrowings	Dec. 31, 2019
Debt Disclosure [Abstract]
INTEREST-BEARING BORROWINGS	12. INTEREST-BEARING BORROWINGS (a) Borrowings under agreements to repurchase Financial assets sold under agreements to repurchase are effectively short-term collateralized borrowings. In these transactions, the Group receives cash in exchange for transferring financial assets as collateral and recognizes an obligation to reacquire the financial assets for cash at the transaction's maturity. These types of transactions create risks, including (1) fair value of the financial assets transferred may decline below the amount of obligation to reacquire the financial assets, and therefore create an obligation to pledge additional amounts, or to replace collaterals pledged, and (2) the Group does not have sufficient liquidity to repurchase the financial assets at the transaction's maturity. Fixed interest rate per annum Term December 31, Note 2018 2019 Repurchase agreements RMB RMB Funds obtained from Private investment funds 10% to 18% Less than 1 year 2,540,140,000 275,930,000 Asset management company 14% Less than 1 year 10,000,000 - Financial institution (i) 9.2% to 13.2% Within 4 years 1,625,676,189 589,103,161 Interest payable Private investment funds 20,046,580 - Asset management company 713,425 - Financial institution (i) 17,323,834 5,745,054 Total repurchase agreements 4,213,900,028 870,778,215 (i) Funds obtained from financial institutions On June 7, 2018, the Group transferred loan principals, interests and financing service fee receivables with carrying amount of RMB499,521,447 to a third-party transferee. The Group transferred loan principals, interests and financing service fee receivables with carrying amount of RMB499,999,800, upon a follow-on transfer on November 20, 2018 to Xiamen Asset Management Co., Ltd. ("Xiamen Asset"), an unrelated third party, with 9.2% to 9.5% per annum rate of return. The terms of loans remain the same after the transfer. However, in accordance with ASC 860, Transfers and Servicing, the loan principals are not derecognized upon transfer as the Group is required to repurchase: (a) the transferred loans which become overdue more than 90 days; (b) the loan principals which are not matured upon the end of the term of the transfer. As of December 31, 2019, the amount of funds obtained from Xiamen Asset and the interest payable are RMB359,297,996 and RMB3,097,961, respectively. On June 15, 2018, the Group transferred loan principals, interests and financing service fee receivables with carrying amount of RMB499,991,939 to a third-party transferee, Weihai Blue Ocean Bank Co. Ltd. ("Blue Ocean"), an unrelated third party, with a 10% per annum rate of return. The terms of loans remain the same after the transfer. However, in accordance with ASC 860, Transfers and Servicing, the loan principals are not derecognized upon transfer as the Group is required to repurchase: (a) the transferred loans which become overdue more than 80 days; (b) the loan principals which are not matured upon the end of the term of the transfer. Moreover, when the agreement is in existence for more than 36 months, the Group will be required to repurchase all the remaining loan assets at a price which was agreed in contract. As of December 31, 2019, the amount of funds obtained from Blue Ocean and the interest payable are RMB66,648,588 and RMB803,744, respectively. On July 11, 2018, the Group transferred loan principals, interests and financing service fee receivables with carrying amount of RMB200,000,000 to a third-party transferee, Haide Asset Management Co., Ltd. ("Haide Asset"), an unrelated third party, with a 10% per annum rate of return. The Terms of loans remain the same after the transfer. However, in accordance with ASC 860, Transfers and Servicing, the loan principals are not derecognized upon transfer as the Group is required to repurchase: (a) the transferred loans which become overdue more than 90 days; (b) the loan principals which are not matured upon the end of the term of the transfer. As of December 31, 2019, the amount of funds obtained from Haide Asset and the interest payable are RMB45,180,534 and RMB564,353, respectively. On December 17, 2018, the Group transferred loan principals, interest and financing service fee receivables with carrying amount of RMB299,609,168 to a third-party transferee, Suzhou Asset Management Co., Ltd. ("Suzhou Asset"), an unrelated third party, with a 11% per annum rate of return. The terms of loans remain the same after the transfer. However, in accordance with ASC 860, Transfers and Servicing, the loan principals are not derecognized upon transfer as the Group is required to repurchase: (a) the transferred loans which become overdue more than 90 days; (b) the loan principals which are not matured upon the end of the term of the transfer. As of December 31, 2019, the amount of funds obtained from Suzhou Asset and the interest payable are RMB91,091,308 and RMB1,121,040, respectively. On January 28, 2019, the Group transferred loan principals, interests and financing service fee receivables with carrying amount of RMB13,793,897 to a third-party transferee, Guangdong Yueke Asset Management Co., Ltd. ("Yueke Asset"), an unrelated third party, with a 13.2% per annum rate of return. Upon a follow-on transfer to Yueke Asset on March 29, 2019, the Group transferred loan principals, interests and financing service fee receivables with carrying amount of RMB27,016,646 and a 13.2% per annum rate of return. The terms of loans remain the same after the transfer. However, in accordance with ASC 860, Transfers and Servicing, the loan principals are not derecognized upon transfer as the Group is required to repurchase: (a) the loan principals which are not matured upon the end of the term of the transfer; (b) the remaining loan principals after deducting, from the original loan principals, the actual transfer cost paid by Yueke Asset and Yueke Asset's loan and interest receivables under the transfer agreement. As of December 31, 2019, the amount of funds obtained from Yueke Asset and the interest payable are RMB26,884,735 and RMB157,956, respectively. The below table provides the underlying collateral types of the gross obligations under repurchase agreements. For more information about pledged assets, refer to the Note 12(c). December 31, 2018 2019 RMB RMB Underlying collateral types of gross obligations Repurchase agreements: Rights to earnings in the Group's subordinated tranches of consolidated VIEs 2,381,636,580 275,930,000 Rights to earnings in loans principal, interest and financing service fee receivables 189,263,425 - Loans principal, interest and financing service fee receivables 1,643,000,023 594,848,215 Total repurchase agreements 4,213,900,028 870,778,215 The below table provides the contractual maturities of the gross obligations under repurchase agreements. Overnight Up to 30 days 30 to 90 days Greater than 90 days Total gross obligations RMB RMB RMB RMB RMB Repurchase agreements As of December 31, 2019 - 684,791,408 115,136,807 70,850,000 870,778,215 As of December 31, 2018 - 344,050,001 569,088,175 3,300,761,852 4,213,900,028 (b) Other borrowings Fixed interest rate per December 31, Other borrowings Note annum Term 2018 2019 RMB RMB Short-term: Investors of consolidated VIEs (i) 7% to 12.7% Less than 1 year 4,237,790,000 4,505,914,751 Asset management partnerships (ii) 11% to 15% Less than 1 year 78,950,000 - Investors of wealth management product which invests in the Group's loans portfolio (iii) 11% Less than 1 year 10,423,230 - Micro-credit companies (v) 13% to 13.5% Less than 1 year 30,000,000 - Long-term: Investors of consolidated VIEs (i) 7.2% to 12.7% Within 5 years 6,548,437,241 2,056,035,701 Senior tranche of trust plan which invests in the Group's loans portfolio (iv) 10.24% Within 2 years 82,718,203 37,547,527 Interest payable to Investors of consolidated VIEs (i) 121,127,920 52,640,336 Asset management partnerships (ii) 1,275,806 - Micro-credit companies (v) 153,611 - Total 11,110,876,011 6,652,138,315 (i) The financial liabilities arising from the VIEs with underlying investments in loans to customers are classified as payables in these consolidated financial statements. It is because the Group has an obligation to pay senior tranches holders upon maturity dates based on the related terms of those consolidated structured funds. (ii) As of December 31, 2018, the borrowings from asset management partnerships are from (1) Zhuhai Longhua Qifu NO.1 Fund Partnership (Limited Partnership) with principal RMB50 million, (2) Ningbo Longhua Zhihe Investment Management Partnership (Limited Partnership) with principal RMB20 million, (3) Jilin Northeast Asia Innovation Financial Assets Trading Center Co., Ltd. with principal RMB8.95 million, bearing interest at 11%, 11.47% and 15% per year, respectively. As of December 31, 2019, the borrowings from asset management partnerships have been fully repaid. (iii) The borrowings from investors of wealth management product which invested in the Group's loans portfolio were the capitals from A-class purchasers of Lianda Baoli Co., Ltd., bearing interest at 11% per year. As of December 31, 2019, the borrowings have been fully repaid. (iv) As of December 31, 2019, the borrowings from senior tranche of trust plan which invested in the Group's loans portfolio were the capitals from senior tranche holders of No.1 Wukuang Trust Yangguang Fanhua Plan with principal RMB37.55 million, bearing interests at 10.24% per year. (v) The borrowings were from Guangdong Province Yueke Technology Micro-credit Co., Ltd. bearing interests at 13% to 13.5% per year. As of December 31, 2019, the borrowings have been fully repaid. Aggregate annual maturities of long-term borrowing obligations (based on final maturity dates) are as follows: December 31, 2019 2020 2021 2022 2023 2024 Thereafter Total RMB RMB RMB RMB RMB RMB RMB Investors of consolidated VIEs - 833,852,256 464,695,088 741,421,520 - 16,066,837 2,056,035,701 Senior tranche of trust plan which invests in the Group's loans portfolio - 37,547,527 - - - - 37,547,527 Total - 871,399,783 464,695,088 741,421,520 - 16,066,837 2,093,583,228 (c) Pledged assets The Group pledges certain assets to secure borrowings under agreements to repurchase and other borrowings. The table provides the total carrying amounts of pledged assets by asset types . December 31, 2018 2019 RMB RMB Rights to earnings in the Group's subordinated tranches of consolidated VIEs 3,474,391,373 1,369,872,606 Rights to earnings in loans principal, interest and financing service fee receivables 554,154,772 92,628,340 Loans principal, interest and financing service fee receivables 1,539,973,217 712,710,327 Total 5,568,519,362 2,175,211,273 Amounts presented above include carrying value of RMB5,369,457,734 and RMB2,082,582,932 in collateral for repurchase agreements as of December 31, 2018 and 2019, respectively.

Credit Risk Mitigation Position

Credit Risk Mitigation Position	12 Months Ended
Credit Risk Mitigation Position	Dec. 31, 2019
Credit Risk Mitigation Position [Abstract]
CREDIT RISK MITIGATION POSITION	13. CREDIT RISK MITIGATION POSITION Under the collaboration model, the Group collaborates with sales partners who are dedicated to introduce the Group's loan services to prospective borrowers. The sales partners need to place security deposits ranging from 10%-25% of the loans issued to the borrowers introduced by them (such contribution, the "credit risk mitigation position") to the Group. The credit risk mitigation position will be transferred into an account designated by the Group and is fully refundable upon repayment of the loan the credit risk mitigation position is associated with.

Other Liabilities

Other Liabilities	12 Months Ended
Other Liabilities	Dec. 31, 2019
Other Liabilities Disclosure [Abstract]
OTHER LIABILITIES	14. OTHER LIABILITIES December 31, Note 2018 2019 RMB RMB Receipt in advance (i) 44,083,940 118,109,316 Other tax payables (ii) 89,586,329 86,798,908 Customer pledged deposits (iii) 77,726,077 60,233,291 Settlement and clearing accounts (iv) 10,112,678 49,175,523 Accrued Expenses (v) 13,925,288 45,156,653 Collaboration cost payable (vi) - 29,191,882 Amounts due to third parties 10,952,518 10,768,698 Others (vii) 5,098,925 5,034,932 Total 251,485,755 404,469,203 (i) Receipt in advance consist of advance for interest and financing service fees on loans and down payments of loans held-for-sale by loan transferees. Down payments of loans held-for-sale were newly added in 2018, amounting to RMB35,493,777 and RMB102,491,426 as of December 31, 2018 and 2019. (ii) Other tax payables mainly represent value-added tax and surcharges payables. (iii) Customer pledged deposits mainly consist of the deposits collected from certain customers to reduce the risk of failure to make payments on schedule. (iv) The Group transferred loans to third party investors and recorded these transactions as sales in Note 6(c). After the transfer, the contract terms related to payment proceeds of the loans remain the same: The Group collects payments of loans and then disburses the proceeds from the relevant loans to third-party transferees. (v) Accrued expenses mainly consist of promotional costs relating to building the collaboration model and expenses payable to consultants such as auditor and lawyers. (vi) As mentioned in Note 20, the Group will pay collaboration cost to the sales partners who introduce prospective borrowers to the Group. The collaboration cost for sales partners is a fixed percentage of the loan principal amount and it is calculated by subtracting the project cost from interest and fees income received from borrowers. The collaboration cost payable was nil and RMB29,191,882 as of December 31, 2018 and 2019, respectively. (vii) Other liabilities are expected to be settled or recognized as income within one year or are repayable on demand.

Ordinary Shares

Ordinary Shares	12 Months Ended
Ordinary Shares	Dec. 31, 2019
Equity [Abstract]
ORDINARY SHARES	15. ORDINARY SHARES On January 8, 2014, the Company was incorporated in the Cayman Islands with authorized share capital of HKD380,000 divided into 3,800,000,000 shares of a nominal or par value of HKD0.0001 each. Upon the incorporation of the Company, one subscriber's share was allotted and issued to Kevin Butler at a consideration of HKD0.0001, representing 100% of the entire ordinary share of the Company. On the same date, such share was transferred to Complete Joy Investments Limited ("Complete Joy") at nil consideration. As a result, Complete Joy was the sole owner of the Company. On July 11, 2018, the Company repurchased of a total of 1,230,434,041 shares of HKD0.0001 each share, following by issuing a total of 1,230,434,040 shares of USD0.0001 each share. As the result of the above redenomination, the par value of the Company's shares has been changed from HKD0.0001 to USD0.0001, and its authorized share capital has been increased to USD380,000 divided into 3,800,000,000 shares of USD0.0001 each. Upon the IPO on November 7, 2018 and exercise of the green shoes options, the Company issued 130,000,000 and 8,500,000 ordinary shares, equal to 6,500,000 ADSs and 425,000 ADSs, respectively, priced at USD7.5 per ADS. The Company issued 2,709,200 ordinary shares, equal to 135,460 ADSs, upon a follow-on exercise of the green shoes options on November 21, 2018, priced at USD7.5 per ADS.

Additional Paid-In Capital

Additional Paid-In Capital	12 Months Ended
Additional Paid-In Capital	Dec. 31, 2019
Additional Paid in Capital [Abstract]
ADDITIONAL PAID-IN CAPITAL	16. ADDITIONAL PAID-IN CAPITAL Additional paid-in capital represents (1) the difference between the nominal value of share capital and the paid-up capital of the Group; (2) the difference between the purchase price and the proportionate share of the identifiable net assets of Guangzhou Anyu when the Group acquired its remaining shares to take full ownership; (3) the portion of the grant date fair value of unexercised share options granted to employees of the Group that has been recognized.

Retained Earnings

Retained Earnings	12 Months Ended
Retained Earnings	Dec. 31, 2019
Retained Earnings Note Disclosure [Abstract]
RETAINED EARNINGS	17. RETAINED EARNINGS December 31, Note 2018 2019 RMB RMB PRC statutory reserves (i) 258,654,052 258,654,052 PRC surplus reserves (ii) 122,148,068 147,125,493 Unreserved retained earnings 1,746,699,587 2,256,366,104 Total 2,127,501,707 2,662,145,649 (i) With effect from July 1, 2012, pursuant to the "Administrative Measures on Accrual of Provisions by Financial Institutions" issued by the MOF in March 2012, the Group is required, in principle, to set aside a general reserve not lower than 1.5% of the ending balance of its gross risk-bearing assets. (ii) In accordance with the Company's PRC subsidiaries' articles of associate, the subsidiaries are required to appropriate 10% of their net incomes, upon approval by board of directors.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income / (losses)	12 Months Ended
Accumulated Other Comprehensive Income / (losses)	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSSES)	18. ACCUMULATED OTHER COMPREHENSIVE INCOME / (LOSSES) Unrealized gain on available-for-sale investments Foreign currency translation adjustment Before tax amount Income Tax (expense) or benefit Net-of-tax amount RMB RMB RMB RMB Balance as of January 1, 2019 (6,255,637 ) 2,252,159 (563,040 ) 1,689,119 Other comprehensive loss, net 3,965,185 (2,024,106 ) 506,027 (1,518,079 ) Balance as of December 31, 2019 (2,290,452 ) 228,053 (57,013 ) 171,040 Balance as of January 1, 2018 (4,572,858 ) 137,885 (34,471 ) 103,414 Other comprehensive loss, net (1,682,779 ) 2,114,274 (528,569 ) 1,585,705 Balance as of December 31, 2018 (6,255,637 ) 2,252,159 (563,040 ) 1,689,119 The amounts reclassified out of accumulated other comprehensive income represent realized gains on the available-for-sale investments upon their sales, which were then recorded in "realized gains/(losses) on sales of investments, net" in the consolidated statements of comprehensive income.

Interest and Financing Service

Interest and Financing Service Fee on Loans	12 Months Ended
Interest and Financing Service Fee on Loans	Dec. 31, 2019
Interest and Fee Income, Loans, Commercial [Abstract]
INTEREST AND FINANCING SERVICE FEE ON LOANS	19. INTEREST AND FINANCING SERVICE FEE ON LOANS Interest and financing service fees on loans, which include financing service fee on loans, are recognized in the consolidated statements of comprehensive income using the effective interest method. Interest income on loans which is recognized with contractual interest rate were RMB3,154,190,318, RMB4,150,727,434 and RMB2,906,171,249 for the year ended December 31, 2017, 2018 and 2019, respectively. Financing service fee on loans, are deferred and amortized over the contractual life of the related loans utilizing the effective interest method. Financing service fee on loans were RMB251,920,274, RMB128,092,934 and RMB47,309,748 for the year ended December 31, 2017, 2018 and 2019, respectively. Interest and fees income and costs from original model and new collaboration model for the year ended December 31, 2019 are listed as below: Year ended December 31, 2019 original collaboration Total RMB RMB RMB Interest and financing service fee on loans 2,486,763,260 466,717,737 2,953,480,997 Interests on deposits with banks 10,410,614 6,269,884 16,680,498 Interest expense on interest-bearing borrowings (1,120,563,910 ) (189,271,789 ) (1,309,835,699 ) Net interest and fees income 1,376,609,964 283,715,832 1,660,325,796 Collaboration cost for sales partners - (174,042,054 ) (174,042,054 ) Net interest and fees income after collaboration cost 1,376,609,964 109,673,778 1,486,283,742 Provision for credit losses (316,039,450 ) (46,695,709 ) (362,735,159 ) Net interest and fees income after provision for credit losses 1,060,570,514 62,978,069 1,123,548,583

Realized Gains _ (Losses) on Sa

Realized Gains / (Losses) on Sales of Investments, Net	12 Months Ended
Realized Gains / (Losses) on Sales of Investments, Net	Dec. 31, 2019
Realized Investment Gains (Losses) [Abstract]
REALIZED GAINS / (LOSSES) ON SALES OF INVESTMENTS, NET	21. REALIZED GAINS / (LOSSES) ON SALES OF INVESTMENTS, NET The gross realized gains on sales of investments are RMB9,024,132, RMB3,185,026 and RMB46,126,258 for the years ended December 31, 2017, 2018 and 2019, respectively. The gross realized losses on sales of investments are RMB20,551,930, nil and nil for the years ended December 31, 2017, 2018 and 2019, respectively.

Other Gains _ (Losses), Net

Other Gains / (Losses), Net	12 Months Ended
Other Gains / (Losses), Net	Dec. 31, 2019
Other gains/(losses), net [Abstract]
OTHER GAINS / (LOSSES), NET	22. OTHER GAINS / (LOSSES), NET Years ended December 31, Note 2017 2018 2019 RMB RMB RMB Net (losses)/gains on sale of loans (i) - (16,697,259 ) 75,959,140 Net gains on confiscated credit risk mitigation positions (ii) - - 7,920,861 Mortgage agency service revenue (iii) 8,395,774 4,466,608 679,933 Foreign exchange (losses)/gains (2,274,438 ) 1,836,029 647,316 Net loss on disposal of property and equipment (261,875 ) (946,244 ) (3,049,896 ) Labour outsourcing services income 7,857,461 - - Net gain on disposal of subsidiaries 6,060,758 - - Asset management revenue 1,316,186 - - Register services income 183,010 - - Others 2,702,734 (3,242,074 ) 177,134 Total 23,979,610 (14,582,940 ) 82,334,488 (i) As mentioned in Note 6(c), the Group transferred the delinquent loans to third parties. Net (losses)/gains on sale of loans which summarizes the received from sales of loans are nil, net losses of RMB16,697,259 and net gains of RMB75,959,140 for the years ended December 31, 2017, 2018 and 2019, respectively. (ii) Sales partners provide credit risk mitigation positions (CRMPs) as security deposits. Pursuant to the collaboration agreements if the debtor's loan principal repayments or accrued interests are past due or the loan is in default, sales partners are obliged to fulfill their guarantee responsibility by selecting among different approaches. The CRMPs deposited by sales partners are confiscated by the Group. Net gains on confiscated CRMPs are newly increase in 2019, amounting to RMB 7,920,861. (iii) The Group earns fees from providing mortgage agency services to borrowers applying for a bank loan. This kind of revenue is recognized at the time when loan is granted as that is the point of time the Group fulfils the customer's request, and is then recognized on an accrual basis in accordance with the terms of the relevant agreements. Mortgage agency service revenue consists of revenue earned from housing mortgage agency service and cars mortgage agency service.

Other Expenses

Other Expenses	12 Months Ended
Other Expenses	Dec. 31, 2019
Other Expenses [Abstract]
OTHER EXPENSES	23. OTHER EXPENSES Years ended December 31, 2017 2018 2019 RMB RMB RMB Advertising and promotion expenses 15,028,164 15,323,838 45,789,035 Litigation fees 3,849,125 22,467,468 25,305,057 Attorney fees 2,904,807 5,983,431 23,748,333 Office and commute expenses 18,769,477 14,425,608 21,835,262 Consulting fees 2,528,958 9,580,602 16,762,953 Entertainment and travelling expenses 14,506,006 14,237,820 10,905,234 Depreciation and amortization 10,804,855 13,299,246 10,917,300 Directors and officers liability insurance - - 6,433,824 Communication expenses 2,598,250 2,549,164 2,874,165 Research and development expenses 4,794,998 1,419,878 2,430,338 Others 6,409,916 14,268,602 15,677,035 Total 82,194,556 113,555,657 182,678,536

Income Tax Expense

Income Tax Expense	12 Months Ended
Income Tax Expense	Dec. 31, 2019
Income Tax Disclosure [Abstract]
INCOME TAX EXPENSE	24. INCOME TAX EXPENSE Cayman Islands Under the current laws of the Cayman Islands, the Company is not subject to tax on income or capital gains. British Virgin Islands (BVI) Pursuant to the rules and regulations of the British Virgin Islands, the Group is not subject to any income tax in the British Virgin Islands. Hong Kong No provision for Hong Kong Profits Tax has been made for the subsidiary located in Hong Kong as the subsidiary has not derived any income subject to Hong Kong Profits Tax during the years. Peoples Republic of China (PRC) According to the PRC Corporate Income Tax ("CIT") Law that was effective from January 1, 2008, the Group's PRC subsidiaries are subject to PRC income tax at the statutory tax rate of 25%, unless otherwise specified. Shenzhen Taotaojin Internet Financial Services Company Limited ("Taotaojin") was granted the "qualified software enterprise" status in 2015 and was entitled to a 50 percent reduction of the income tax rate for the years ended December 31, 2017 to 2019. Taotaojin was disposed by the Group in September 2017. The effect of tax holiday to income tax expense is RMB4 million, RMB nil million and nil million in 2017, 2018 and 2019, respectively. Basic earnings per ordinary share effect of the Group's tax holiday for the year ended December 31, 2017, 2018 and 2019 was RMB0.003, RMB nil and nil, respectively. Diluted earnings per ordinary share effect of the Group's tax holiday for the year ended December 31, 2017, 2018 and 2019 was RMB0.003, RMB nil and nil, respectively. Income tax expense, all of which relates to the PRC, consists of the following for the years ended December 31: Years ended December 31, 2017 2018 2019 RMB RMB RMB Current tax expense 333,883,691 401,913,951 182,459,389 Deferred tax (benefit)/expense (57,888,823 ) (105,085,476 ) 3,908,847 Total income tax expense 275,994,868 296,828,475 186,368,236 The principal components of the deferred tax assets and liabilities are as follows: Years ended December 31, 2018 2019 RMB RMB Deferred tax assets: Allowance for loans principal 205,058,644 254,945,409 Allowance for interest and financing fee receivables 11,281,778 22,654,969 Net operating loss carry-forwards 5,743,768 6,459,941 Lease liabilities - 9,533,485 Other deferred tax assets 1,275,001 1,388,307 Total of deferred tax assets 223,359,191 294,982,111 Valuation allowance (5,743,768 ) (6,459,941 ) Deferred tax assets, net of valuation allowance 217,615,423 288,522,170 Deferred tax liabilities: Intangible assets (742,500 ) (742,500 ) Available-for-sale investments (563,040 ) (57,014 ) Right-of-use assets - (9,533,485 ) Undistributed earnings from structured funds - (621,034,296 ) Total deferred tax liabilities (1,305,540 ) (631,367,295 ) In 2019, the Group assessed and considered that RMB555,752,187 of the income taxes payable balance as of December 31, 2018 would be filed and settled on a future income tax return. Such amount was related to the cumulative undistributed earnings from the structured funds. The Group has presented the effect of the cumulative undistributed earnings from the structured funds as deferred tax liabilities in 2019. Movement of valuation allowance: 2018 2019 RMB RMB At the beginning of year 12,610,881 5,743,768 Current year additions 1,572,672 2,843,639 Current year reversals (8,391,178 ) (2,025,434 ) Current year charge-offs (48,607 ) (102,032 ) At the end of year 5,743,768 6,459,941 In assessing the recoverability of its deferred tax assets, management considers whether some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the cumulative earnings and projected future taxable income in making this assessment. Recovery of substantially all of the Group's deferred tax assets is dependent upon the generation of future income, exclusive of reversing taxable temporary differences. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are recoverable, management believes that it is more likely than not that the Group will realize the benefits of its deferred tax assets as of December 31, 2018 and 2019. Valuation allowances have been provided on deferred tax assets due to the uncertainty surrounding their realization. As of December 31, 2018 and 2019, the valuation allowance on deferred tax assets mainly arising from tax loss carry-forwards were provided because it was more likely than not that the Group will not be able to utilize operating loss carry-forwards and certain deductible expenses generated by certain unprofitable subsidiaries. The Company operates through its subsidiaries and VIEs. Since each entity files a separate tax return, the valuation allowance is considered on an individual entity basis. As of December 31, 2019, the Company had net operating loss carryforwards of RMB 25,839,764 from its subsidiaries registered in the PRC, which can be carried forward to offset future taxable income. The Company had deferred tax assets related to net operating loss carryforwards of RMB 6,459,941. Net operating losses of RMB14,465,207 will expire in year in 2023, and in 2024, about RMB11,374,557 will expire, if not utilized. Management intends to indefinitely reinvest the undistributed earnings of the subsidiaries located in the PRC. The cumulative amount of the temporary difference in respect of investments in PRC subsidiaries is RMB2,744,856,109 as of December 31, 2019. Upon repatriation of the subsidiaries' and the VIE's earnings, in the form of dividends or otherwise, the Group would be subject to 10% PRC withholding income tax when making distribution to foreign parent companies. However, the Group was not subject to withholding income tax in 2019 because the Group did not make any distribution to foreign parent companies. The related unrecognized deferred tax liabilities were RMB 274,485,611. The income before income tax is as follows: Years ended December 31, 2017 2018 2019 RMB RMB RMB Cayman Islands - (5,671 ) (4,424,505 ) BVI (8,859,599 ) 161,953 45,003 Hongkong entities (44,257 ) (77,026 ) 2,014,052 PRC entities 817,571,481 1,157,657,930 723,377,628 Total 808,667,625 1,157,737,186 721,012,178 The reconciliation of the PRC statutory income tax rate of 25% to the effective income tax rate is as follows: Years ended December 31, 2017 2018 2019 PRC statutory income tax rate 25.00 % 25.00 % 25.00 % (Decrease)/Increase in effective income tax rate resulting from: Effect of tax holiday (0.51 )% 0.00 % 0.00 % Effect of tax-free income (4.00 )% (0.03 )% (0.06 )% Effect of disposal of subsidiaries 6.53 % 0.00 % 0.00 % Effect of non-deductible share option expense 5.65 % 0.86 % 0.55 % Effect of zero tax rate in foreign countries 0.27 % (0.00 )% 0.15 % Effect of transfer pricing 0.32 % 0.00 % 0.00 % Changes in valuation allowance 0.75 % (0.59 )% 0.11 % Others 0.11 % 0.42 % 0.09 % Effective income tax rate 34.12 % 25.66 % 25.84 % The Group's only major jurisdiction is China where tax returns generally remain open and subject to examination by tax authorities for tax years 1999 onwards. The Group did not have any significant unrecognized tax benefits, and no interest and penalty expenses were recorded for the years ended December 31, 2017, 2018 and 2019.

Earnings Per Share

Earnings Per Share	12 Months Ended
Earnings Per Share	Dec. 31, 2019
Earnings Per Share [Abstract]
EARNINGS PER SHARE	25. EARNINGS PER SHARE The following table sets forth the computation of basic and diluted earnings per share for the years ended December 31, 2017, 2018 and 2019, for which the basic weighted average number of common shares are based on the 1,230,434,041, 1,371,643,240 and 1,371,643,240 common shares issued by the Company, as if those shares were issued as of the earliest date presented. Years ended December 31, 2017 2018 2019 RMB RMB RMB Net income 532,672,757 860,908,711 534,643,942 Basic weighted average number of common shares outstanding 1,230,434,041 1,251,608,224 1,371,643,240 Effect of dilutive share options 100,975,533 137,727,545 96,143,147 Dilutive weighted average number of ordinary shares 1,331,409,574 1,389,335,769 1,467,786,387 Basic earnings per share 0.43 0.69 0.39 Diluted earnings per share 0.40 0.62 0.36

Share-Based Compensation Expens

Share-Based Compensation Expenses	12 Months Ended
Share-Based Compensation Expenses	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION EXPENSE	26. SHARE-BASED COMPENSATION EXPENSES (a) Description of share-based compensation arrangements On January 3, 2017, the Group adopted a new share incentive plan, or the 2017 Share Incentive Plan. Options to purchase 187,933,730 ordinary shares pursuant to the 2017 Share Incentive Plan were issued to certain management and employees. Accordingly, 60%, 20% and 20% of the award options shall vest on December 31, each of the years 2017 to 2019, respectively. Unless terminated earlier, the 2017 Share Incentive Plan will terminate automatically in 2022. On August 27, 2018, a 2018 Share Incentive Plan (the "2018 Option") for granting shares award of CNFinance to certain management and employees of the Group is issued to concurrent replace the 2017 Share Incentive Plan which granted Sincere Fame's share. Except for the above mentioned change of grantor, all terms of the 2017 Share Incentive Plan and the 2018 Share Incentive Plan are the same. No change in the fair value, vesting conditions or the classification of the 2017 Share Incentive Plan and the 2018 Share Incentive Plan. On December 31, 2019, the Group granted options to certain management and employees to purchase 119,674,780 ordinary shares pursuant to the 2018 Share Incentive Plan (the "2019 Option"). Accordingly, 50%, 30% and 20% of the award options shall vest on December 31, each of the years 2020 to 2022, respectively, with expiration dates on December 31, each of the years 2025 to 2027. Share-based payment transactions with employees, such as share options are measured based on the grant date fair value of the equity instrument. The Group recognizes the compensation costs net of estimated forfeitures over the applicable vesting period. The estimate of forfeitures will be adjusted over the requisite service period to the extent that actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures will be recognized through a cumulative catch-up adjustment in the period of change and will also impact the amount of stock compensation expenses to be recognized in future periods. There were no market conditions associated with the share option grants. (b) Fair value of share options and assumptions The fair value of options granted to employees is determined based on a number of factors including valuations. In determining the fair value of equity instruments, the Group referred to valuation reports prepared by an independent third-party appraisal firm, based on data the Group provided. The valuation reports provided the Group with guidelines in determining the fair value of the equity instruments, but the Group are ultimately responsible for the determination of all amounts related to share-based compensation recorded in the financial statements. Excluding the options containing service vesting conditions, the Group calculated the estimated fair value of the options on the respective grant dates using a binomial option pricing model with assistance from independent valuation firms, with the following assumptions: Share awards granted on January 3, 2017 Share awards granted on December 31, 2019 Expected volatility 40 % 41.52 % Expected dividends - - Risk-free interest rate 3.10 % 3.12 % Expected term (in years) 5 5 Expected life (in years) 6 8 The contractual life of the share option is used as an input into the binomial option pricing model. Exercise multiple and post-vesting forfeit are incorporated into the model as well. 2018 Option When the options of the 2018 Option were issued, the Group's shares had not been publicly traded and its shares were rarely traded privately. Therefore, the expected volatility is estimated based on the historical volatility of comparable entities with publicly traded shares for the period before the date of grant with length commensurate to contractual life of the options. Since the contractual life of the options is 6 years, the risk-free rate for the expected term of the options is determined based on the yield to maturity of China 6-year government bond at the date of grant. 2019 Option When the options of the 2019 Option were issued, the Group's shares were already publicly traded. Since the shares have only been publicly traded for just over a year, the expected volatility is estimated based on the historical volatility of comparable entities with publicly traded shares for the period before the date of grant with length commensurate to contractual life of the options. The contractual life of the options is 6 years, 7 years and 8 years, respectively. Therefore, the risk-free rate for the expected term of the options is determined based on the yield to maturity of China 5-year, 7-year and 10-year government bond, using interpolation method, at the date of grant. The Group has not declared or paid any cash dividends on its capital stock and does not anticipate any dividend payments on its ordinary shares in the foreseeable future. If any of the assumptions used in the binomial option pricing model changes significantly, share-based compensation expenses for future awards may differ materially compared with the awards granted previously. A summary of share option activity under the 2018 Option is as follows: Number of shares Weighted Weighted average grant date fair value RMB RMB Balance, December 31, 2016 - - - Granted 187,933,730 - 1.27 Exercised - - - Surrendered - - - Balance, December 31, 2017 187,933,730 - 1.27 Exercisable, December 31, 2017 112,760,238 - 1.27 Expected to vest, December 31, 2017 75,173,492 - 1.27 Balance, December 31, 2017 187,933,730 - 1.27 Granted - - - Exercised - - - Surrendered - - - Balance, December 31, 2018 187,933,730 - 1.27 Exercisable, December 31, 2018 150,346,984 - 1.27 Expected to vest, December 31, 2018 37,586,746 - 1.27 Balance, December 31, 2018 187,933,730 - 1.27 Granted - - - Exercised - - - Surrendered - - - Balance, December 31, 2019 187,933,730 - 1.27 Exercisable, December 31, 2019 187,933,730 - 1.27 Expected to vest, December 31, 2019 - - - A summary of share option activity under the 2019 Option is as follows: Number of shares Weighted average exercise price Weighted average grant date RMB RMB Balance, December 31, 2018 - - - Granted 119,674,780 - 0.72 Exercised - - - Surrendered - - - Balance, December 31, 2019 119,674,780 - 0.72 Exercisable, December 31, 2019 - - - Expected to vest, December 31, 2019 119,674,780 - 0.72 The following table sets forth the fair value of options and ordinary shares estimated at the dates of option grants indicated below with the assistance from an independent valuation firm. Date of options grant Options granted Exercise price Fair value of option Fair value of ordinary shares January 3, 2017 75,173,492 RMB0.50 RMB1.26 RMB1.72 January 3, 2017 112,760,238 RMB0.50 RMB1.27 RMB1.72 December 31, 2019 83,772,346 RMB1.00 RMB0.71 RMB1.40 December 31, 2019 35,902,434 RMB1.00 RMB0.75 RMB1.40 For the option granted on January 3, 2017, the Group recognized compensation expenses of RMB39,715,168 and RMB15,886,067 in year 2018 and 2019, respectively. There was no income tax benefit recognized associated with the share-based compensation expenses. As of December 31, 2019, the expenses in relation to the 2018 Option have been fully recognized. As of December 31, 2019, there was RMB86,614,000 of total unrecognized compensation cost related to unvested stock options granted under the 2019 Option. That cost is expected to be recognized over a weighted average period of 1.35 year.

Material Related Party Transact

Material Related Party Transactions	12 Months Ended
Material Related Party Transactions	Dec. 31, 2019
Related Party Transactions [Abstract]
MATERIAL RELATED PARTY TRANSACTIONS	27. MATERIAL RELATED PARTY TRANSACTIONS Name and relationship with related parties During the years, transactions with the following parties are considered as related parties: Name of related party Relationship CISG Holdings Limited one of the shareholders Mr. Zhai Bin Chairman and Chief Executive Officer of the Group Fanhua Inc. and its subsidiaries one of the owners beneficially owns 100% equity interests of CISG Holdings Limited The Group' s related parties, Fanhua Inc. and its subsidiaries signed an agreement with the Group that agreed to grant a revolving loan with a maximum amount of USD50,000,000 (equivalent to RMB317,990,000 as per the agreement) to the Group. The amounts are unsecured and bear market interest rate at 7.3% per year and are repayable on demand. The principals were settled in 2015. As of December 31, 2016, the principals and interests payable to Fanhua Inc. and its subsidiaries were nil and RMB32,494,914, respectively. During the year of 2017, the Group paid off all the interests to Fanhua Inc. and its subsidiaries. In the year of 2017, the Group had borrowings transactions with Fanhua Inc. and its subsidiaries, which totally amounted up to RMB460,000,000 used for short-term cash flow, bearing market interest rate at 7.3% per year. As of December 31, 2017, the Group paid off all the principals and interest expense amounted RMB8,714,000 generated from the borrowings this year. In 2017, the Chairman and Chief Executive Officer of the Group, Mr. Zhai Bin, entered into a loan agreement with the Group as lender with an amount of RMB5,010,800 with a daily market interest rate of 0.02%. The loan was settled in full in March 2018. In May 2018, Jinghua Structured Fund 27, a VIE consolidated by the Group, was established with a contracted valid term for 10 years. Fanhua Inc. and its subsidiaries subscribed all of the senior units and intermediate units of Jinghua Structured Fund 27, which amounted to RMB115,000,000 and RMB23,000,000 respectively. The Group subscribed to all of the subordinated units of Jinghua Structured Fund 27 as well, which amounted to RMB15,350,000. In 2018, Fanhua Inc. and its subsidiaries transferred all their senior units and intermediate units to a third party of the Group from May to July. As a result, amounts due to related parties is nil as of December 31, 2018. The total amount of interest expense of Jinghua Structured Fund 27 in 2018 is RMB6,308,306. As the result of the above transferring, interest expense paid to related parties is RMB610,405. The Group did not have any related party transactions in the year ended December 31, 2019.

Operating Leases

Operating Leases	12 Months Ended
Operating Leases	Dec. 31, 2019
Operating Lease, Lease Income [Abstract]
OPERATING LEASES	28. OPERATING LEASES The Group leases multiple office spaces which are contracted under various non-cancelable operating leases, most which provide extension or early termination options and are generally expired in 1 to 4 years. The Group does not enter into any finance leases or leases where the Group is a lessor. Moreover, the existing operating lease agreements do not contain any residual value guarantees or material restrictive covenants. Management determine if an arrangement is a lease at inception and record the leases in the financial statements upon lease commencement, which is the date when the underlying office space is made available for use by the lessor. The incremental borrowing rates determined for computing the lease liabilities are based on the People's Bank of China (PBOC) Benchmark Rates for terms of loans ranging from zero (exclusive) to 5 years and above. The following tables present the operating lease cost and other supplemental information: Year ended December 31, 2017 2018 2019 RMB RMB RMB Operating lease cost (1) 47,896,817 58,317,758 36,607,623 (1) Amounts include short-term leases that are immaterial. December 31, 2019 RMB Weighted-average remaining lease term 2 Years Weighted-average discount rate 4.75 % Cash paid for amounts included in the measurement of lease liabilities under operating cash flows 39,195,151 ROU assets obtained in exchange for new operating lease liabilities 38,133,941 The following represents the Group's future undiscounted cash flows for each of the next five years and thereafter and reconciliation to the lease liabilities (excluding short-term operating leases) as of December 31, 2019: Year Ended December 31, RMB 2020 23,145,299 2021 10,876,674 2022 5,053,216 2023 581,340 2024 193,780 Thereafter - Total future operating lease payments 39,850,309 Less: imputed interest (1,716,368 ) Total present value of operating lease liabilities 38,133,941 Under legacy lease accounting (ASC 840), future minimum lease payments under non-cancellable leases as of December 31, 2018 are as follows: Year Ended December 31, RMB 2019 55,912,805 2020 31,600,761 2021 17,417,081 2022 10,701,271 2023 4,601,398 Thereafter 5,247,712 Total 125,481,028

Condensed Financial Information

Condensed Financial Information of the Parent Company	12 Months Ended
Condensed Financial Information of the Parent Company	Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract]
CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY	29. CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY The Company's PRC VIEs and PRC subsidiaries are restricted in their ability to transfer a portion of their net assets to the Company. The payment of dividends by entities organized in China is subject to limitations, procedures and formalities. Regulations in the PRC currently permit payment of dividends only out of accumulated profits as determined in accordance with accounting standards and regulations in China. The Company's subsidiaries are also required to set aside at least 10% of its net income based on PRC accounting standards each year to its statutory reserves account until the accumulative amount of such reserves reaches 50% of its respective registered capital. The aforementioned reserves can only be used for specific purposes and are not distributable as cash dividends. In addition, the Company's operations and revenues are conducted and generated in China, all of the Company's revenues being earned and currency received are denominated in RMB. RMB is subject to the foreign exchange control regulation in China, and, as a result, the Company may be unable to distribute any dividends outside of China due to PRC foreign exchange control regulations that restrict the Company's ability to convert RMB into US Dollars. Regulation S-X requires the condensed financial information of registrant shall be filed when the restricted net assets of consolidated subsidiaries exceed 25 percent of consolidated net assets as of the end of the most recently completed fiscal year. For purposes of the above test, restricted net assets of consolidated subsidiaries shall mean that amount of the registrant's proportionate share of net assets of consolidated subsidiaries (after intercompany eliminations) which as of the end of the most recent fiscal year may not be transferred to the parent company by subsidiaries in the form of loans, advances or cash dividends without the consent of a third party. The condensed parent company financial statements have been prepared in accordance with Rule 12-04, Schedule I of Regulation S-X as the restricted net assets of the Company's PRC subsidiary and VIE exceed 25% of the consolidated net assets of the Company. The condensed financial information of the parent company has been prepared in accordance with SEC Regulation S-X Rule 5-04 and Rule 12-04, using the same accounting policies as set out in the Company's consolidated financial statements, except that the Company uses the equity method to account for investments in its subsidiaries. The footnote disclosures generally included in financial statements prepared in accordance with U.S. GAAP have been condensed and omitted. The footnote disclosures contain supplemental information relating to the operations of the Company, as such, these statements are not the general-purpose financial statements of the reporting entity and should be read in conjunction with the notes to the consolidated financial statements of the Company. On January 8, 2014, the Company was incorporated in the Cayman Islands with one subscriber's share allotted and issued at par value of HKD0.0001, representing 100% of the entire ordinary share of the Company. The shareholder as well as shareholder's equity remained the same until the reorganization with Sincere Fame. Condensed balance sheets December 31, 2018 December 31, 2019 RMB RMB Assets Cash and cash equivalents 319,807,618 7,192,877 Investments in subsidiaries 392,559,403 392,559,403 Other assets - 316,693,899 Total assets 712,367,021 716,446,179 Liabilities and shareholders' equity Accrued employee benefits - 418,572 Other operating liabilities 8,158,984 10,988,499 Total liabilities 8,158,984 11,407,071 Ordinary shares (3,800,000,000 shares authorized; 1,371,643,240 shares with USD0.0001 as par value issued as of December 31, 2018 and December 31, 2019) 916,743 916,743 Additional paid-in capital 705,422,445 705,422,445 Retained earnings (5,672 ) (4,430,177 ) Accumulated other comprehensive income: Foreign currency translation adjustment (2,125,479 ) 3,130,097 Total shareholders' equity 704,208,037 705,039,108 Total liabilities and shareholders' equity 712,367,021 716,446,179 Condensed statements of comprehensive income 2018 2019 RMB RMB Interest and fees income Interest on deposits with banks - 426,672 Total interest and fees income - 426,672 Other revenue - 3,353,216 Total non-interest income - 3,353,216 Total Revenue - 3,779,888 Operating expenses Employee compensation and benefits - (660,018 ) Other expenses (5,672 ) (7,544,375 ) Total operating expenses (5,672 ) (8,204,393 ) Income before income tax (5,672 ) (4,424,505 ) Income tax expense - - Net loss (5,672 ) (4,424,505 ) Other comprehensive (losses)/income Foreign currency translation adjustment (2,125,479 ) 5,255,576 Comprehensive (losses)/income (2,131,151 ) 831,071 Condensed statements of cash flows 2018 2019 RMB RMB Cash flows from operating activities: Net loss (5,672 ) (4,424,505 ) Other operating assets - (316,693,899 ) Other operating liabilities 7,311 3,248,087 Net cash provided by operating activities 1,639 (317,870,317 ) Cash flows from financing activities: Proceeds from initial public offering, net of offering cost paid of RMB51,967,702 in 2018 321,930,733 - Net cash provided by financing activities 321,930,733 - Net increase in cash and cash equivalents 321,932,372 (317,870,317 ) Cash and cash equivalents at the beginning of year - 319,807,618 Effect of exchange rate change on cash and cash equivalents (2,124,754 ) 5,255,576 Cash and cash equivalents at the end of year 319,807,618 7,192,877

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	30. COMMITMENTS AND CONTINGENCIES The Group has not entered into any financial guarantees or other commitments to guarantee the payment obligations of any unconsolidated third parties. In addition, the Group has not entered into any derivative contracts that are indexed to the Group's shares and classified as shareholders' equity, or that are not reflected in the Group's consolidated financial statements. Furthermore, the Group does not have any retained or contingent interest in assets transferred to an unconsolidated entity that serves as credit, liquidity or market risk support to such entity. Moreover, the Group does not have any variable interest in any unconsolidated entity that provides financing, liquidity, market risk or credit support to the Group or engages in leasing, hedging or product development services with the Group.

Subsequent Events

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	31. SUBSEQUENT EVENTS Management has considered subsequent events through April 27, 2020, which was the date of these consolidated financial statements were issued. In January 2020, a novel strain of coronavirus, known as COVID-19, was reported to have surfaced in China, which soon spread throughout the country and other continents. The COVID-19 outbreak may impose disruptions on China's macroeconomy, and it is difficult to estimate the duration and extent of it. The COVID-19 outbreak has adversely impacted on the business operation of companies in a variety of industries. Owners of micro-and small-enterprise ("MSE"), major clients of the Group, are among the most heavily influenced practices; therefore, the Group's normal business operation might be affected, the risks of the loans the Group facilitates will increase and the Group is unable to evaluate this impact precisely. The extent to which the Group's results are impacted will depend on the future developments of COVID-19, which are highly uncertain and cannot be predicted. The Group will continue to hold close attention to it to assess the potential effects on the business operation and financial position of the Group. As of the issue date of this report, the assessment is still in progress.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2019
Accounting Policies [Abstract]
Principles of consolidation	(a) Principles of consolidation The accompanying consolidated financial statements include the financial statements of the Group, its subsidiaries and consolidated VIEs. All intercompany transactions and balances have been eliminated in consolidation. The Group accounts for investments over which it has significant influence but not a controlling financial interest using the equity method of accounting.
Currency translation for financial statements presentation	(b) Currency translation for financial statements presentation The Group uses Renminbi ("RMB") as its reporting currency. The United States Dollar ("USD") is the functional currency of the Company incorporated in Cayman and the Group's subsidiary Sincere Fame incorporated in British Virgin Islands, and the Hong Kong Dollar("HKD") is the functional currency of the Group's subsidiary China Financial Services Group Limited incorporated in Hong Kong and the RMB is the functional currency of the Group's PRC subsidiaries. The financial statements of the Group are translated from the functional currency to the reporting currency, RMB. Assets and liabilities of the subsidiaries are translated into RMB using the exchange rate in effect at each balance sheet date. Income and expenses items are generally translated at the average exchange rates prevailing during the fiscal year. Foreign currency translation adjustments arising from these are accumulated as a separate component of shareholders' deficit on the consolidated financial statements. The resulting exchange differences are recorded in the consolidated statements of comprehensive income/(losses).
Use of estimates	(c) Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include, allowance for loans principal, interest and financing service fee receivables, the valuation allowance for deferred tax assets, unrecognized tax benefits, the indefinite reinvestment assertion, the fair value of available-for-sale investments and the fair value of share-based compensation.
Revenue recognition	(d) Revenue recognition Interest and financing service fee on loans which are amortized over the contractual life of the related loans are recognized in consolidated statements of comprehensive income in accordance with ASC 310 using the effective interest method. Mortgage agency service revenue, asset management revenue and revenue from rendering of services are recognized in accordance with ASC 606 when following conditions are met: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The criteria of revenue recognition as they relate to each of the following major revenue generating activities are described below: (i) Interest and financing service fee on loans Interest and financing service fee on loans, which include financing service fee on loans, are collected from borrowers for loans and related services. Interest and financing service fee on loans includes the amortization of any discount or premium or differences between the initial carrying amount of an interest-bearing asset and its amount at maturity calculated using the effective interest basis. The effective interest method is a method of calculating the amortized cost of a financial asset and of allocating the interest and financing service fee on loans over the years. The effective interest rate is the rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial instrument. When calculating the effective interest rate, the Group estimates cash flows considering all contractual terms of the financial instrument but does not consider future credit losses. Interest on the impaired assets is recognized using the rate of interest used to discount future cash flows. (ii) Mortgage agency service revenue and asset management revenue The Group earns mortgage agency service revenue from providing mortgage agency services to borrowers applying for a bank loan. Mortgage agency service fee is often received immediately or shortly after establishing contracts with customers. This kind of revenue is recognized at the time when loan is granted as that is the point of time the Group fulfils the customer's request, and is then recognized on an accrual basis in accordance with the terms of the relevant agreements. The Group receives asset management revenue from providing asset management services for investors. The asset management revenue is calculated and accrued on a daily basis based on the daily net asset values of the asset management products under management. (iii) Realized gains / (losses) on sales of investments Realized gains / (losses) consist of realized gains and losses from the sale of available-for-sale investments, presented on a net basis. (iv) Rendering of services In 2018 and 2019, the Group did not have income from rendering of services. In 2017, when the outcome of a transaction involving the rendering of services can be estimated reliably, revenue from the rendering of services is recognized by reference to the stage of completion of the transaction based on the services performed to date as a percentage of the total services to be performed. When the outcome of a transaction involving the rendering of services cannot be estimated reliably, revenue is recognized only to the extent of the costs incurred that it is probably recoverable.
Loans	(e) Loans Loans are reported at their outstanding principal balances net of any unearned income and unamortized deferred fees and costs. Loan origination fees and certain direct origination costs are generally deferred and recognized as adjustments to income over the lives of the related loans. The Group facilitates credit to borrowers through structured funds which are considered as consolidated VIEs and the Group evaluated VIEs for consolidation in accordance with ASC 810 in the Consolidated VIEs Section of Note 1. Providing credit strengthening arrangement since March 2018 for the loans to customers under the funds is one of the key factors to determine that the Group should consolidate the structured funds as it is the primary beneficiary of the funds. As a result, the loan principal remains on the Group's consolidated balance sheets, whilst the funds received from senior tranches holders are recorded as Other Borrowings in the Group's consolidated balance sheets as disclosed in Note 12(b)(i). Non-accrual policies Loans principal, interest and financing service fee receivables are placed on non-accrual status when payments are 90 days contractually past due. When a loan principal, interest and financing service fee receivable is placed on non-accrual status, financing service fees accrual ceases. If the loan is non-accrual, the cost recovery method is used and cash collected is applied to first reduce the carrying value of the loan. Otherwise, interest income may be recognized to the extent cash is received. Loans principal, interest and financing service fee receivables may be returned to accrual status when all of the borrower's delinquent balances of loans principal, interest and financing service fee have been settled and the borrower continue to perform in accordance with the loan terms for a period of at least six months. Charge-off policies Loans principal, interest and financing service fee receivables are charged off when the Group has determined the remaining balance is uncollectable after exhausting all collection efforts. In order to comply with ASC 310, the Group considers loans principal, interest and financing service fee receivables meeting any of the following conditions as uncollectable and charged-off: (i) death of the borrower; (ii) identification of fraud, and the fraud is officially reported to and filed with relevant law enforcement departments or (iii) the Group concludes that it has exhausted its collection efforts. Allowance for credit losses Allowance for credit losses represents management's best estimate of probable losses inherent in the portfolio. The allowance for credit losses includes an asset-specific component and a statistically based component. The asset-specific component is calculated under ASC 310-10-35, on an individual basis for the loans whose payments are contractually past due more than 90 days or which are considered impaired. An asset-specific allowance is established when the discounted cash flows, collateral value (less disposal costs) or observable market price of the impaired loan are lower than its carrying value. This allowance considers the borrower's overall financial condition, resources, and payment record, the prospects for support from any financially responsible guarantors and, if appropriate, the realizable value of any collateral. The allowance for the remainder of the loan portfolio is determined under ASC 450 using a roll rate-based model. The roll rate-based model stratifies the loan principal, interest and financing service fee receivables by delinquency stages which are divided by days overdue and projected forward in next stage using probability of default. In each stage of the simulation, losses on the loan principal, interest and financing service fee receivables types are captured, and the ending delinquency stratification serves as the beginning point of the next iteration. This process is repeated on a monthly rolling basis. The loss rate calculated for each delinquency stage using loss given default, then applied to the respective loan principal, interest and financing service fees balance. The Group adjusts the allowance that is determined by the roll rate-based model for various Chinese macroeconomic factors (i.e. gross-domestic product rates, interest rates and consumer price indexes). Each of these macroeconomic factors are equally weighted, and a score is applied to each factor based on year-on-year increases and decreases in that respective factor. Loans held-for-sale Loans held-for-sale are measured at the lower of cost or fair value, with valuation changes recorded in noninterest revenue. The valuation is performed on an individual loan basis. Loan origination fees or costs and purchase price discounts or premiums are deferred in a contra loan account until the related loan is sold. The deferred fees or costs and discounts or premiums are an adjustment to the basis of the loan and therefore are included in the periodic determination of the lower of cost or fair value adjustments and/or the gain or loss recognized at the time of sale.
Cash and cash equivalents	(f) Cash and cash equivalents Cash and cash equivalents primarily consist of cash, deposits which are highly liquid and all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. The Company considers highly liquid investments that are readily convertible to known amounts of cash.
Available-for-sale ("AFS") investments	(g) Available-for-sale ("AFS") investments The Group classifies wealth management products and asset management products as available-for-sale ("AFS") investments. AFS investments are recorded at fair value. Unrealized holding gains and losses, net of the related tax effect, on AFS investments are excluded from earnings and are reported as a separate component of accumulated other comprehensive income until realized. Realized gains and losses from the sale of AFS investments are determined on a specific identification basis and are recorded as realized gains/(losses) on sales of investments. Interest and investment income are recognized when earned.
Property and equipment	(h) Property and equipment Property and equipment are stated at cost. Depreciation on equipment is calculated on the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized over the shorter of the economic useful life of the improvement or the term of the lease. The estimated useful life of office and other equipment range from 1 to 5 years, the estimated useful life of leasehold improvements or the term of the lease range from 1 to 6 years, while the estimated useful lives of motor vehicles range from 3 to 8 years.
Goodwill	(i) Goodwill Goodwill is an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Impairment tests for cash-generating units containing goodwill The Group assesses goodwill for impairment at the reporting unit level at least annually and more frequently upon the occurrence of certain events. The Group has the option to assess qualitative factors first to determine whether it is necessary to perform the two-step test. If the Group believes, as a result of the qualitative assessment, that it is more-likely-than-not that the fair value of the reporting unit is less than its carrying amount, the two-step quantitative impairment test described above is required. Otherwise, no further testing is required. In the qualitative assessment, the Group considers primary factors such as industry and market considerations, overall financial performance of the reporting unit, and other specific information related to the operations. In performing the two-step quantitative impairment test, the first step compares the carrying amount of the reporting unit to the fair value of the reporting unit based on either quoted market prices of the ordinary shares or estimated fair value using a combination of the income approach and the market approach. If the fair value of the reporting unit exceeds the carrying value of the reporting unit, goodwill is not impaired and the Group is not required to perform further testing. If the carrying value of the reporting unit exceeds the fair value of the reporting unit, then the Group must perform the second step of the impairment test in order to determine the implied fair value of the reporting unit's goodwill. The fair value of the reporting unit is allocated to its assets and liabilities in a manner similar to a purchase price allocation in order to determine the implied fair value of the reporting unit goodwill. If the carrying amount of the goodwill is greater than its implied fair value, the excess is recognized as an impairment loss.
Intangible assets	(j) Intangible assets Indefinite-lived intangible assets are assets that are not amortized because there is no foreseeable limit to cash flows generated from them. Intangible assets with finite useful lives are amortized on a straight line basis over their estimated useful lives. The Group categorizes trademarks as indefinite-lived intangible assets, whose carrying value is RMB2.97 million. If it is more likely than not that the asset is impaired, the Group records the amount that the carrying value exceeds the fair value as an impairment expense. The Group performed its annual impairment review of indefinite-lived intangible assets on December 31, 2018 and 2019 and determined that it is more likely than not that the carrying values were less than the fair values. Intangible assets with finite useful lives represent software and cooperation agreements, the estimated useful lives of which are 1 to 5 years and 5 years, respectively. As of December 31, 2018 and 2019, accumulated amortization were RMB12,518,252 and RMB13,052,565, respectively.
Income tax	(k) Income tax Income tax is accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and for operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Group recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50 percent likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Group classifies interest and penalties related to the liability for unrecognized tax benefits as income tax expense.
Employee benefit plans	(l) Employee benefit plans Pursuant to relevant PRC regulations, the Group is required to make contributions to various employee benefit plans organized by municipal and provincial PRC governments. The contributions are made for each PRC employee at statutory rates as determined by local social security bureau. Contributions to the employee benefit plans are charged to the consolidated statements of income. The Group has no obligations for payment of pension benefits associated with the plans beyond the amount it is required to contribute.
Long-lived assets	(m) Long-lived assets Long-lived assets, such as property and equipment, and purchased intangible assets subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, the Group first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying amount. If the carrying amount of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying amount exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary.
Share-based compensation	(n) Share-based compensation The Group measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award and recognizes the cost over the period the employee is required to provide service in exchange for the award, which generally is the vesting period. The Group recognizes compensation cost for an award with only service conditions that have a graded vesting schedule on a straight-line basis over the requisite service period for the entire award, net of estimated forfeitures, provided that the cumulative amount of compensation cost recognized at any date at least equals the portion of the grant-date value of such award that is vested at that date. Forfeiture rates are estimated based on historical and future expectations of employee turnover rates.
Operating leases	(o) Operating leases Leases where substantially all the rewards and risks of ownership of assets remain with the lessor are accounted for as operating leases. The Group's operating leases are recognized on a straight-line basis over the lease term. Certain of the operating lease agreements contain rent holidays. Rent holidays are considered in determining the straight-line rent expense to be recorded over the lease term.
Repurchase agreements	(p) Repurchase agreements Financial assets sold under agreements to repurchase do not constitute a sale of the underlying financial assets for accounting purposes and are treated as collateralized financing transactions. Financial assets sold under agreements to repurchase are recorded at the amount of cash received plus accrued interest. Interest paid on agreements to repurchase is recorded in interest expense at the contractually specified rate.
Commitments and contingencies	(q) Commitments and contingencies Liabilities for loss contingencies arising from claims, assessments, litigation, fines, and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred.
Fair value measurements	(r) Fair value measurements The Group uses valuation approaches that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Group determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels in accordance with ASU 2011-04 (see Note 7 to the consolidated financial statements): ● Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date. ● Level 2 Inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. ● Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date. The level in the fair value hierarchy within which a fair value measurement in its entirety falls is based on the lowest level input that is significant to the fair value measurement in its entirety. In situations where there is little, if any, market activity for the asset or liability at the measurement date, the fair value measurement reflects management's own judgments about the assumptions that market participants would use in pricing the asset or liability. Those judgments are developed by management based on the best information available in the circumstances.
Earnings per share	(s) Earnings per share Basic earnings per share is computed by dividing net income attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period. Diluted earnings per share is calculated by dividing net income attributable to ordinary shareholders by the weighted average number of ordinary and dilutive ordinary equivalent shares outstanding during the period. Ordinary equivalent shares are not included in the denominator of the diluted earnings per share calculation when inclusion of such shares would be anti-dilutive. For purposes of calculating basic earnings per share for the years ended December 31, 2018 and 2019, the weighted average number of shares used in the calculation has been retroactively adjusted to reflect the incorporation of the Company and the Reorganization (see Note 1), as if these events had occurred at the beginning of the earliest period presented and these shares had been outstanding for all periods.
Segment reporting	(t) Segment reporting The Group uses the management approach in determining its operating segments. The management approach considers the internal reporting used by the Group's chief operating decision maker for making decisions about the allocation of resources to and the assessment of the performance of the segments of the Group, therefore the management has determined that the Group has one operating segment. All of the Group's operations and customers are located in the PRC. Consequently, no geographic information is presented.
Recently adopted accounting standards	(u) Recently adopted accounting standards In February 2016, the FASB established Topic 842, Leases, by issuing Accounting Standards Update (ASU) No. 2016-02, which requires lessees to recognize leases on-balance sheet and disclose key information about leasing arrangements. Topic 842 was subsequently amended by ASU No. 2018-01, Land Easement Practical Expedient for Transition to Topic 842; ASU No. 2018-10, Codification Improvements to Topic 842, Leases; and ASU No. 2018-11, Targeted Improvements. The Group adopted the new standard on its effective date, January 1, 2019. In addition, the Group elected the package of practical expedients permitted under the transition guidance within the new standard, which allowed the Group to (1) not reassess whether any expired or existing contracts are or contain leases; (2) not reassess the lease classification for any expired or existing leases; (3) not reassess initial direct costs for any existing leases; (4) not separate lease components from non-lease components for any expired or existing leases; and (5) exclude short-term leases (leases with original terms of 12 months or less) from the ROU assets and lease liabilities. Furthermore, the Company elected the effective date transition method and continued to apply the guidance in ASC 840, including its disclosure requirements, in the comparative prior year periods. Accordingly, previously reported financial statements, including footnote disclosures, have not been recast to reflect the application of the new standard to all comparative periods presented. Upon the adoption date, the Group recognized RMB120.96 million of ROU assets, none of which was impaired, and the same amount of lease liabilities on its consolidated balance sheets. The adoption of the ASUs did not have a material impact on the consolidated statement of operations or the consolidated statement of cash flows.
Recently issued accounting standards	(v) Recently issued accounting standards Accounting for Financial Instruments – Credit Losses In June 2016, the FASB amended guidance related to impairment of financial instruments as part of ASU 2016-13, Financial Instruments - Credit Losses (Topic 326). The guidance replaces the incurred loss impairment methodology with an expected credit loss model for which a company recognizes an allowance based on the estimate of expected credit loss. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. For public companies, the update is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years. On January 1, 2020, the Group adopted the new accounting standard. The Group's lifetime expected credit losses are determined using macroeconomic forecast assumptions and management judgments applicable to and through the expected life of the loan portfolios, and are net of expected recoveries on loans that were previously charged off. The standard also expands credit quality disclosures beginning in the first quarter of 2020. While the standard changes the measurement of the allowance for credit losses, it does not change the Group's credit risk of its lending portfolios or the ultimate losses in those portfolios. Upon adoption of the standard on January 1, 2020, the Group recorded an RMB23.83 million, or 1.61 percent, increase to the allowance for credit losses. After adjusting for income tax effects, an RMB17.87 million decrease was recorded in retained earnings through a cumulative-effect adjustment. Prior to the adoption, the Group used the roll rate-based model for the measurement of credit losses and had been working through the implementation of the new standard. In that regard, the Group (1) formed a cross-functional working group under the direction of the risk management department, (2) evaluated data sources and made process updates to capture additional relevant data, and (3) identified a service provider to perform the calculation. The working group was comprised of individuals from various functional areas including credit, risk management, finance and information technology. The implementation plan includes, but was not limited to, an assessment of processes, portfolio segmentation, model development, system requirements and the identification of data and resource needs. Fair Value Measurement: Disclosure Framework In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework (Topic 842) - Changes to the Disclosure Requirements for Fair Value Measurement, which modify the disclosure requirements on fair value measurement by removing, modifying, or adding certain disclosures. The amendments improve the effectiveness of disclosures in the notes to financial statements modify the disclosure requirements on fair value measurements in Topic 820. This ASU requires disclosure of the changes in unrealized gains or losses included in OCI for Level 3 assets or liabilities held at the end of the period and the range and weighted-average of the significant unobservable inputs used in determining the fair value of Level 3 assets and liabilities. The amendments also remove the requirement to disclose the transfers between Level 1 and Level 2 of the fair value hierarchy, timing of transfers between levels, and the valuation process for determining Level 3 fair value measurements. The amendments in this update are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Group adopted the standard on January 1, 2020. The Group has not historically recorded material amounts of Level 3 assets and liabilities or material transfers of assets or liabilities between levels within the fair value hierarchy and therefore does not anticipate the adoption to have any material impact on the financial statement disclosures. Income Taxes – Simplifying the Accounting for Income Taxes In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes, as part of its initiative to reduce complexity in accounting standards. The amendments in the ASU are effective for fiscal years beginning after December 15, 2020, including interim periods therein. Early adoption of the standard is permitted, including adoption in interim or annual periods for which financial statements have not yet been issued. The Group has not early adopted this ASU for 2019. The ASU is currently not expected to have a material impact on the Group's consolidated financial statements.

Description of Business, Orga_2

Description of Business, Organization, and Basis of Presentation (Tables)	12 Months Ended
	Dec. 31, 2019
Description Of Business Organization And Basis Of Presentation [Abstract]
Schedule of investment in significant subsidiaries	Name of company Place and date of incorporation/ establishment Registered capital Issued and fully paid up capital Percentage of Principal activities Direct Indirect Sincere Fame International Limited British Virgin Islands USD 1,230,434.04 USD 1,230,434.04 100 % - Investment Holding China Financial Services Group Limited Hong Kong HKD 100,000,000 HKD 100,000,000 - 100 % Investment Holding Fanhua Chuang Li Information Technology (Shenzhen) Co., Ltd. the PRC HKD 400,000,000 HKD 400,000,000 - 100 % Investment Holding Shenzhen Fanhua United Investment Group Co., Ltd. the PRC RMB 250,000,000 RMB 250,000,000 - 100 % Investment Holding Guangzhou Anyu Mortgage Consulting Co., Ltd. the PRC RMB 2,220,000 RMB 2,220,000 - 100 % Micro credit Chongqing Fengjie Financial Advisory Co., Ltd. the PRC RMB 500,000 RMB 500,000 - 100 % Financial consultancy Guangzhou Chengze Information Technology Co., Ltd. the PRC RMB 3,000,000 RMB 3,000,000 - 100 % Software development and maintenance Name of company Place and date of incorporation/ establishment Registered capital Issued and fully paid up capital Percentage of equity attributable Principal activities Direct Indirect Chongqing Liangjiang New Area Fanhua Micro-credit Co., Ltd. the PRC USD 30,000,000 USD 30,000,000 - 100 % Micro credit Shenzhen Fanhua Micro-credit Co., Ltd. the PRC RMB 300,000,000 RMB 300,000,000 - 100 % Micro credit Shenzhen Fanhua Fund Management Services Co., Ltd. the PRC RMB 5,000,000 RMB 5,000,000 - 100 % Company register service Guangzhou Heze Information Technology Co., Ltd. the PRC RMB 20,000,000 RMB 20,000,000 - 100 % Software development and maintenance Beijing Lianxin Chuanghui Information Technology Co., Ltd. the PRC HKD 10,000,000 HKD 10,000,000 - 100 % Software development and maintenance Shenzhen Fanlian Investment Co., Ltd. the PRC RMB 30,000,000 RMB 30,000,000 - 100 % Investment Holding Fanhua Financial Leasing (Shenzhen) Co., Ltd. the PRC USD 10,000,000 USD 10,000,000 - 100 % Financial leasing Shenzhen Fanhua Chengyu Finance Service Co., Ltd. the PRC RMB 10,000,000 RMB 10,000,000 - 100 % Labour outsourcing services Beijing Fanhua Qilin Capital Management Co., Ltd. the PRC RMB 100,000,000 RMB 10,000,000 - 96 % Asset Management Name of company Place and date of incorporation/ establishment Registered capital Issued and fully Percentage of equity attributable Principal activities Direct Indirect Shijiazhuang Fanhua Financial Advisory Co., Ltd. the PRC RMB 2,000,000 - - 100 % Financial Consultancy Taizhou Fanhua Financial Advisory Co., Ltd. the PRC RMB 500,000 - - 100 % Financial Consultancy Xuzhou Shenfanlian Enterprise Management Co., Ltd. the PRC RMB 10,000,000 - - 100 % Enterprise Management Zhenjiang Fanhua Business Service Advisory Co., Ltd. the PRC RMB 500,000 - - 100 % Business Nantong Shenfanlian Enterprise Management Co., Ltd. the PRC RMB 5,000,000 - - 100 % Enterprise Management Jiaxing Fanhua Enterprise Management Advisory Co., Ltd. the PRC RMB 500,000 - - 100 % Enterprise Management Baoding Fanjie Financial Advisory Co., Ltd. the PRC RMB 500,000 - - 100 % Financial Consultancy Shenzhen Fancheng Business Operation Management Partnership (Limited Partnership) the PRC RMB 500,000,000 RMB 36,210,000 - 100 % Enterprise Management Fanxiaoxuan Cultural Media (Guangzhou) Co., Ltd. the PRC RMB 1,000,000 - - 100 % Enterprise Management Name of company Place and establishment Registered capital Issued and fully Percentage of equity attributable to the Group Principal activities Direct Indirect Guangzhou Fanze Information Technology Co., Ltd. the PRC RMB 10,000,000 - - 100 % Software development and maintenance Langfang Fanhua Technology Co., Ltd. the PRC RMB 200,000 - - 100 % Software development and maintenance Shenyang Fanhua Financial Advisory Co., Ltd. the PRC RMB 1,000,000 - - 100 % Financial consultancy
Schedule of investments in the consolidated VIEs by the group	Name of structured funds Place and establishment Principal Jinghua Structured Fund 5 菁华号信托计划 the PRC Micro credit Jinghua Structured Fund 6 菁华号信托计划 the PRC Micro credit Bohai Trust Shenfanlian Micro Finance Structured Fund 渤海信托深泛联小微金融集合资金信托计划 the PRC Micro credit Bohai Huihe SME Structured Fund 渤海汇和中小微企业经营贷集合资金信托计划 the PRC Micro credit Zhongyuan Wealth Anhui Structured Fund 1 中原财富安惠期 the PRC Micro credit Zhongyuan Wealth Anhui Structured Fund 2 中原财富安惠期 the PRC Micro credit Beijing Fanhua Micro-credit Company Limited 北京泛华小额贷款有限公司 the PRC Micro credit and mortgage agency services No.27 Jinghua Structured Fund 菁华号信托计划 the PRC Micro credit No.29 Jinghua Structured Fund 菁华号信托计划 the PRC Micro credit Yuecai Loan Structured Arrangement 粤财网贷合作计划 the PRC Micro credit Zhonghai Lanhai Structured Fund 1 中海信托蓝海号集合资金信托计划 the PRC Micro credit Bairui Hengyi No.613 Structured Fund 百瑞恒益号集合资金信托计划 the PRC Micro credit Bohai Trust No.1 Huiying Structured Fund 渤海惠盈号集合资金信托计划 the PRC Micro credit Bohai Trust No.2 Shenzhen Fanhua United Structured Fund 渤海信托深泛联号集合资金信托计划 the PRC Micro credit Name of structured funds Place and establishment Principal Everbright No.1 Business Acceleration Structured Fund 光大助业号集合资金信托计划 the PRC Micro credit Jinghua Structured Fund 1 外贸信托菁华号集合资金信托计划 the PRC Micro credit Zhonghai Lanhai Structured Fund 1-2 中海信托蓝海号集合资金信托计划 the PRC Micro credit Zhonghai Lanhai Structured Fund 1-3 中海信托蓝海号集合资金信托计划 the PRC Micro credit Hunan Structured Fund 2019-1 湖南信托2019-1集合资金信托计划 the PRC Micro credit Hunan Structured Fund 2019-2 湖南信托集合资金信托计划 the PRC Micro credit Shaanxi International Xinglong Structured Fund 1-1 the PRC Micro credit Shaanxi International Xinglong Structured Fund 2-1 陕国投·兴隆号集合资金信托计划 the PRC Micro credit Bairui Hengyi No.711 Structured Fund 百瑞恒益号集合资金信托计划 the PRC Micro credit Zhonghai Lanhai Structured Fund 1-4 中海信托蓝海号集合资金信托计划 the PRC Micro credit Zhongyuan Wealth Anhui Structured Fund 49 中原信托安惠期 the PRC Micro credit Bairui Hengyi No.724 Structured Fund 百瑞恒益号集合资金信托计划 the PRC Micro credit Zhonghai Lanhai Structured Fund 1-5 中海信托蓝海号集合资金信托计划 the PRC Micro credit Zhonghai Lanhai Structured Fund 1-6 中海信托蓝海号集合资金信托计划 the PRC Micro credit No. 50 Jinghua Structured Fund 外贸信托菁华号资管计划 the PRC Micro credit No. 70 Jinghua Structured Fund the PRC Micro credit and idle funds management services
Schedule of financial statements of the consolidated variable interest entity	The table sets forth the assets and liabilities of the consolidated VIEs included in the Group's consolidated balance sheets: December 31, 2018 2019 RMB RMB Cash and cash equivalents 2,556,453,812 1,075,146,003 Loans principal, interest and financing service fee receivables 14,693,474,990 10,096,892,280 Available-for-sale investments 270,497,995 865,685,426 Deferred tax assets 216,380 167 Other assets 192,135,492 538,987,372 Total assets 17,712,778,669 12,576,711,248 Interest-bearing borrowings 12,552,191,338 7,090,260,790 Income taxes payable 956,881 642,912 Other liabilities 772,026,076 1,592,662,264 Total liabilities 13,325,174,295 8,683,565,966 The table sets forth the results of operations of the VIEs included in the Group's consolidated statements of comprehensive income: 2017 2018 2019 RMB RMB RMB Revenues 3,247,097,840 4,030,796,059 2,939,040,096 Net income 1,074,500,910 910,293,862 663,949,174 The table sets forth the cash flows of the VIEs included in the Group's consolidated statements of cash flows: 2017 2018 2019 RMB RMB RMB Net cash provided by/ (used in) operating activities 3,858,370,455 367,720,114 (426,302,852 ) Net cash (used in)/provided by investing activities (8,905,181,155 ) 274,412,708 4,207,318,357 Net cash provided by/ (used in) financing activities 5,916,858,297 909,251,326 (5,262,323,314 )

Disposal of Subsidiaries (Table

Disposal of Subsidiaries (Tables)	12 Months Ended
Disposal of Subsidiaries (Tables)	Dec. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
Schedule of effect of disposal on the financial position of the Group	Aggregated carrying value as of the disposal dates RMB Cash and cash equivalents 10,532,048 Loans principal, interest and financing service fee receivables 28,221,115 Available-for-sale investments 33,616,143 Interest in equity method investee 20,450,000 Property and equipment 3,653,157 Intangible assets and goodwill 23,333 Deferred tax assets 12,779,966 Other assets 320,606,280 Accrued employee benefits (2,294,431 ) Income tax payable (14,785,506 ) Other liabilities (134,312,863 ) Net assets and liabilities 278,489,242

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
Fair Value Measurements (Tables)	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at fair value on a recurring basis	December 31, 2019 Fair value Level 1 Level 2 Level 3 RMB RMB RMB RMB Asset management products 20,020,456 - 20,020,456 - Wealth management products 634,307,598 - 634,307,598 - Loans held-for-sale 66,698,869 - 66,698,869 - Total 721,026,923 - 721,026,923 - December 31, 2018 Fair value Level 1 Level 2 Level 3 RMB RMB RMB RMB Wealth management products 682,252,159 - 682,252,159 - Loans held-for-sale - - - - Total 682,252,159 - 682,252,159 -

Loans Principal, Interest and_2

Loans Principal, Interest and Financing Service Fee Receivables (Tables)	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
Schedule of loans principal, interest and financing service fee receivables	December 31, Note 2018 2019 RMB RMB Loans principal, interest and financing service fee receivables 15,861,324,470 11,366,097,286 Less: allowance for credit losses (a) - Individually assessed (157,157,377 ) (670,281,312 ) - Collectively assessed (705,881,227 ) (437,797,117 ) Subtotal (863,038,604 ) (1,108,078,429 ) Net loans principal, interest and financing service fee receivables 14,998,285,866 10,258,018,857
Schedule of allowance for credit losses	2019 Allowance for loans which are collectively assessed Allowance assessed Total RMB RMB RMB As of January 1 705,881,227 157,157,377 863,038,604 Provision for credit losses (193,390,841 ) 556,126,000 362,735,159 Charge-offs (174,997,524 ) (43,002,065 ) (217,999,589 ) Loss recoveries 100,304,255 - 100,304,255 Recoveries - - - As of December 31 437,797,117 670,281,312 1,108,078,429 Net loans principal, interest and financing service fee receivables 9,379,408,613 878,610,244 10,258,018,857 Recorded investment 9,817,205,730 1,548,891,556 11,366,097,286 2018 Allowance for loans which are collectively assessed Allowance assessed Total RMB RMB RMB As of January 1 341,599,744 98,736,342 440,336,086 Provision for credit losses 364,289,770 69,464,131 433,753,901 Charge-offs (8,287 ) (11,043,096 ) (11,051,383 ) Recoveries - - - As of December 31 705,881,227 157,157,377 863,038,604 Net loans principal, interest and financing service fee receivables 14,760,930,158 237,355,708 14,998,285,866 Recorded investment 15,466,811,385 394,513,085 15,861,324,470
Schedule of aging of past-due loan principal and financing service fee receivables	The following tables present the aging of past-due loan principal and financing service fee receivables as of December 31, 2019. Total current 1–30 days past due 31–90 days past due 91–180 days past due >180 days past due Total loans Total non-accrual 90 days past due and accruing RMB RMB RMB RMB RMB RMB RMB RMB Loans principal, interest and financing service fee receivables 8,895,877,818 596,669,455 240,667,057 341,220,681 1,291,662,275 11,366,097,286 1,632,882,956 - The following tables present the aging of past-due loan principal and financing service fee receivables as of December 31, 2018. Total current 1–30 days past due 31–90 days past due 91–180 days past due >180 days past due Total loans Total non-accrual 90 days past due and accruing RMB RMB RMB RMB RMB RMB RMB RMB Loans principal, interest and financing service fee receivables 12,929,493,099 1,031,203,259 1,484,689,974 159,343,805 256,594,333 15,861,324,470 415,938,138 -
Schedule of summary of Impaired loans	Recorded investment Unpaid principal balance Impaired loans Impaired loans with related allowance for credit losses Impaired loans without related allowance for credit losses Related allowance for credit losses RMB RMB RMB RMB RMB As of December 31, 2019 1,652,782,208 1,632,882,956 1,378,790,678 254,092,278 670,281,312 As of December 31, 2018 417,625,050 415,938,138 358,477,762 57,460,376 157,157,377 Years ended December 31, 2018 2019 Average recorded investment (i) Interest and fees income recognized (ii) Average recorded investment (i) Interest and fees income recognized (ii) RMB RMB RMB RMB Impaired loans 335,515,156 26,786,527 1,379,536,563 81,694,043 (i) Average recorded investment represents ending balance for the last four quarters and does not include the related allowance for credit losses. (ii) The interest and fees income recognized are those interest and financing service fee recognized related to impaired loans. All the amounts are recognized on cash basis.

Available-for-Sale Investments

Available-for-Sale Investments (Tables)	12 Months Ended
Available-for-Sale Investments (Tables)	Dec. 31, 2019
Debt Securities, Available-for-sale [Abstract]
Schedule of carrying amount, gross unrealized holding gains, gross unrealized holding losses, and fair value	Aggregate cost basis Total OTTI recognized in OCI Gross unrealized holding gains Gross unrealized holding (losses) Aggregate fair value RMB RMB RMB RMB RMB As of December 31, 2019: Asset management products 20,000,000 - 20,456 - 20,020,456 Wealth management products 634,100,000 - 207,598 - 634,307,598 Total 654,100,000 - 228,054 - 654,328,054 As of December 31, 2018: Wealth management products 680,000,000 - 2,252,159 - 682,252,159

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
Property and Equipment (Tables)	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	December 31, 2018 2019 RMB RMB Office and other equipment 23,774,820 22,151,112 Leasehold improvements 25,062,449 21,636,662 Motor vehicles 1,655,768 1,580,101 Less: accumulated depreciation (31,326,808 ) (36,171,900 ) Total 19,166,229 9,195,975

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	12 Months Ended
Intangible Assets and Goodwill (Tables)	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets and goodwill	December 31, Note 2018 2019 RMB RMB Intangible assets (a) 4,176,244 3,738,338
Schedule of intangible assets	December 31, 2018 December 31, 2019 Gross carrying value Accumulated amortization Net carrying value Gross carrying value Accumulated amortization Net carrying value RMB RMB RMB RMB RMB RMB Amortized intangible assets: Software 8,694,496 (7,488,252 ) 1,206,244 8,790,903 (8,022,565 ) 768,338 Cooperation agreement 5,030,000 (5,030,000 ) - 5,030,000 (5,030,000 ) - Total amortized intangible assets 13,724,496 (12,518,252 ) 1,206,244 13,820,903 (13,052,565 ) 768,338 Unamortized intangible assets: Trademarks 2,970,000 2,970,000
Schedule of amortization expense for current year and future periods	Software RMB Year ended December 31, 2019 (actual) 534,313 Estimate for year ended December 31, 2020 521,157 2021 234,303 2022 12,878 2023 - 2024 -

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
Other Assets (Tables)	Dec. 31, 2019
Other Assets [Abstract]
Schedule of other assets	December 31, Note 2018 2019 RMB RMB Guaranteed assets (i) - 100,304,255 Receivable from sale of loans (ii) 2,473,559 46,312,256 Equity securities (iii) 40,010,000 34,010,000 Less: impairment losses - - Amounts due from employees (iv) 10,126,228 10,026,151 Prepayments 6,741,881 6,850,294 Receivables for realization of collaterals 7,164,458 5,205,818 Receivable from private equity funds - Principal 21,350,000 - - Interest 4,523,205 - Other receivables 956,021 4,814,242 Total 93,345,352 207,523,016 (i) As described in Note 13, sales partners submit credit risk mitigation positions (or "CRMPs") to the Group as a guarantee for the loans under the collaboration model. When allowance for credit losses is recognized and accrued, the Group will evaluate if the loan loss recovery guaranteed by the CRMPs is probable and estimable. If the loss recovery is probable and estimable, the amount guaranteed by the CRMPs is recognized as guaranteed assets. (ii) As mentioned in Note 6(c), the Group transferred the delinquent loans to third parties so that the Group could collect the payment more quickly than to simply dispose the collaterals through litigation. The transferred loans have been isolated from the Group. There is no constrain on the transferee's rights to pledge or exchange. The Group does not maintain effective control of transferred loans and loan transfers accounted for as sales are the transfer transactions without repurchase agreements. (iii) In December 2013, the Group invested 10% of the paid-in capital in Guangzhou Huangpu Ronghe Village Bank Co., Ltd. ("Huangpu Ronghe"). As of December 31, 2018 and 2019, Huangpu Ronghe has paid-in capital of RMB100,000,000, and the Group has invested RMB10,000,000 in Huangpu Ronghe. In June 2016, the Group invested 10,003,334 shares at RMB3.00 per share, which represents 2.14% of the paid-in capital in Guangdong Qingyuan Rural Commercial Bank ("Qingyuan Rural"). The Group transferred 2 million shares to an unrelated third party at RMB3.00 per share that is same as the investment cost on September 18, 2019. As of December 31, 2018 and 2019, the Group invested 2.14% and 1.72% of the paid-in capital in Qingyuan Rural. Qingyuan Rural has paid-in capital of RMB1,400,000,000, and the Group has invested RMB30,010,000 and RMB24,010,000 in Qingyuan Rural, respectively. The Company's equity securities that do not have readily determinable fair values are measured at cost minus impairment and adjusted for changes in observable prices. Factors considered by the Group in determining fair value include, but are not limited to, available financial information, the issuer's ability to meet its current obligations and indications of the issuer's subsequent ability to raise capital. Under the updated standard ASU 2016-01, these investments are accounted for using the measurement alternative. No change in observable price has been identified and no impairment has recorded for the two years of 2018 and 2019. (iv) Due from employees mainly include temporary advances to employees for payments of collateral evaluation fee, mortgage handling fee, payments for office supplies, etc. on behalf of the Group.

Interest-Bearing Borrowings (Ta

Interest-Bearing Borrowings (Tables)	12 Months Ended
Interest-Bearing Borrowings (Tables)	Dec. 31, 2019
Debt Disclosure [Abstract]
Schedule of borrowings under agreements to repurchase	Fixed interest rate per annum Term December 31, Note 2018 2019 Repurchase agreements RMB RMB Funds obtained from Private investment funds 10% to 18% Less than 1 year 2,540,140,000 275,930,000 Asset management company 14% Less than 1 year 10,000,000 - Financial institution (i) 9.2% to 13.2% Within 4 years 1,625,676,189 589,103,161 Interest payable Private investment funds 20,046,580 - Asset management company 713,425 - Financial institution (i) 17,323,834 5,745,054 Total repurchase agreements 4,213,900,028 870,778,215
Schedule of underlying collateral types of the gross obligations under repurchase agreements	December 31, 2018 2019 RMB RMB Underlying collateral types of gross obligations Repurchase agreements: Rights to earnings in the Group's subordinated tranches of consolidated VIEs 2,381,636,580 275,930,000 Rights to earnings in loans principal, interest and financing service fee receivables 189,263,425 - Loans principal, interest and financing service fee receivables 1,643,000,023 594,848,215 Total repurchase agreements 4,213,900,028 870,778,215
Schedule of contractual maturities of the gross obligations under repurchase agreements	Overnight Up to 30 days 30 to 90 days Greater than 90 days Total gross obligations RMB RMB RMB RMB RMB Repurchase agreements As of December 31, 2019 - 684,791,408 115,136,807 70,850,000 870,778,215 As of December 31, 2018 - 344,050,001 569,088,175 3,300,761,852 4,213,900,028
Schedule of other borrowings	Fixed interest rate per December 31, Other borrowings Note annum Term 2018 2019 RMB RMB Short-term: Investors of consolidated VIEs (i) 7% to 12.7% Less than 1 year 4,237,790,000 4,505,914,751 Asset management partnerships (ii) 11% to 15% Less than 1 year 78,950,000 - Investors of wealth management product which invests in the Group's loans portfolio (iii) 11% Less than 1 year 10,423,230 - Micro-credit companies (v) 13% to 13.5% Less than 1 year 30,000,000 - Long-term: Investors of consolidated VIEs (i) 7.2% to 12.7% Within 5 years 6,548,437,241 2,056,035,701 Senior tranche of trust plan which invests in the Group's loans portfolio (iv) 10.24% Within 2 years 82,718,203 37,547,527 Interest payable to Investors of consolidated VIEs (i) 121,127,920 52,640,336 Asset management partnerships (ii) 1,275,806 - Micro-credit companies (v) 153,611 - Total 11,110,876,011 6,652,138,315 (i) The financial liabilities arising from the VIEs with underlying investments in loans to customers are classified as payables in these consolidated financial statements. It is because the Group has an obligation to pay senior tranches holders upon maturity dates based on the related terms of those consolidated structured funds. (ii) As of December 31, 2018, the borrowings from asset management partnerships are from (1) Zhuhai Longhua Qifu NO.1 Fund Partnership (Limited Partnership) with principal RMB50 million, (2) Ningbo Longhua Zhihe Investment Management Partnership (Limited Partnership) with principal RMB20 million, (3) Jilin Northeast Asia Innovation Financial Assets Trading Center Co., Ltd. with principal RMB8.95 million, bearing interest at 11%, 11.47% and 15% per year, respectively. As of December 31, 2019, the borrowings from asset management partnerships have been fully repaid. (iii) The borrowings from investors of wealth management product which invested in the Group's loans portfolio were the capitals from A-class purchasers of Lianda Baoli Co., Ltd., bearing interest at 11% per year. As of December 31, 2019, the borrowings have been fully repaid. (iv) As of December 31, 2019, the borrowings from senior tranche of trust plan which invested in the Group's loans portfolio were the capitals from senior tranche holders of No.1 Wukuang Trust Yangguang Fanhua Plan with principal RMB37.55 million, bearing interests at 10.24% per year. (v) The borrowings were from Guangdong Province Yueke Technology Micro-credit Co., Ltd. bearing interests at 13% to 13.5% per year. As of December 31, 2019, the borrowings have been fully repaid.
Schedule of aggregate annual maturities of long-term borrowing obligations	December 31, 2019 2020 2021 2022 2023 2024 Thereafter Total RMB RMB RMB RMB RMB RMB RMB Investors of consolidated VIEs - 833,852,256 464,695,088 741,421,520 - 16,066,837 2,056,035,701 Senior tranche of trust plan which invests in the Group's loans portfolio - 37,547,527 - - - - 37,547,527 Total - 871,399,783 464,695,088 741,421,520 - 16,066,837 2,093,583,228
Schedule of carrying amounts of pledged assets	December 31, 2018 2019 RMB RMB Rights to earnings in the Group's subordinated tranches of consolidated VIEs 3,474,391,373 1,369,872,606 Rights to earnings in loans principal, interest and financing service fee receivables 554,154,772 92,628,340 Loans principal, interest and financing service fee receivables 1,539,973,217 712,710,327 Total 5,568,519,362 2,175,211,273

Other Liabilities (Tables)

Other Liabilities (Tables)	12 Months Ended
Other Liabilities (Tables)	Dec. 31, 2019
Other Liabilities Disclosure [Abstract]
Schedule of other liabilities	December 31, Note 2018 2019 RMB RMB Receipt in advance (i) 44,083,940 118,109,316 Other tax payables (ii) 89,586,329 86,798,908 Customer pledged deposits (iii) 77,726,077 60,233,291 Settlement and clearing accounts (iv) 10,112,678 49,175,523 Accrued Expenses (v) 13,925,288 45,156,653 Collaboration cost payable (vi) - 29,191,882 Amounts due to third parties 10,952,518 10,768,698 Others (vii) 5,098,925 5,034,932 Total 251,485,755 404,469,203 (i) Receipt in advance consist of advance for interest and financing service fees on loans and down payments of loans held-for-sale by loan transferees. Down payments of loans held-for-sale were newly added in 2018, amounting to RMB35,493,777 and RMB102,491,426 as of December 31, 2018 and 2019. (ii) Other tax payables mainly represent value-added tax and surcharges payables. (iii) Customer pledged deposits mainly consist of the deposits collected from certain customers to reduce the risk of failure to make payments on schedule. (iv) The Group transferred loans to third party investors and recorded these transactions as sales in Note 6(c). After the transfer, the contract terms related to payment proceeds of the loans remain the same: The Group collects payments of loans and then disburses the proceeds from the relevant loans to third-party transferees. (v) Accrued expenses mainly consist of promotional costs relating to building the collaboration model and expenses payable to consultants such as auditor and lawyers. (vi) As mentioned in Note 20, the Group will pay collaboration cost to the sales partners who introduce prospective borrowers to the Group. The collaboration cost for sales partners is a fixed percentage of the loan principal amount and it is calculated by subtracting the project cost from interest and fees income received from borrowers. The collaboration cost payable was nil and RMB29,191,882 as of December 31, 2018 and 2019, respectively. (vii) Other liabilities are expected to be settled or recognized as income within one year or are repayable on demand.

Retained Earnings (Tables)

Retained Earnings (Tables)	12 Months Ended
Retained Earnings (Tables)	Dec. 31, 2019
Retained Earnings Note Disclosure [Abstract]
Schedule of retained earnings	December 31, Note 2018 2019 RMB RMB PRC statutory reserves (i) 258,654,052 258,654,052 PRC surplus reserves (ii) 122,148,068 147,125,493 Unreserved retained earnings 1,746,699,587 2,256,366,104 Total 2,127,501,707 2,662,145,649 (i) With effect from July 1, 2012, pursuant to the "Administrative Measures on Accrual of Provisions by Financial Institutions" issued by the MOF in March 2012, the Group is required, in principle, to set aside a general reserve not lower than 1.5% of the ending balance of its gross risk-bearing assets. (ii) In accordance with the Company's PRC subsidiaries' articles of associate, the subsidiaries are required to appropriate 10% of their net incomes, upon approval by board of directors.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income / (losses) (Tables)	12 Months Ended
Accumulated Other Comprehensive Income / (losses) (Tables)	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of accumulated other comprehensive income / (losses)	Unrealized gain on available-for-sale investments Foreign currency translation adjustment Before tax amount Income Tax (expense) or benefit Net-of-tax amount RMB RMB RMB RMB Balance as of January 1, 2019 (6,255,637 ) 2,252,159 (563,040 ) 1,689,119 Other comprehensive loss, net 3,965,185 (2,024,106 ) 506,027 (1,518,079 ) Balance as of December 31, 2019 (2,290,452 ) 228,053 (57,013 ) 171,040 Balance as of January 1, 2018 (4,572,858 ) 137,885 (34,471 ) 103,414 Other comprehensive loss, net (1,682,779 ) 2,114,274 (528,569 ) 1,585,705 Balance as of December 31, 2018 (6,255,637 ) 2,252,159 (563,040 ) 1,689,119

Interest and Financing Servic_2

Interest and Financing Service Fee on Loans (Tables)	12 Months Ended
Interest and Financing Service Fee on Loans (Tables)	Dec. 31, 2019
Interest And Financing Service Fee On Loans
Schedule of interest and fees income costs	Year ended December 31, 2019 original collaboration Total RMB RMB RMB Interest and financing service fee on loans 2,486,763,260 466,717,737 2,953,480,997 Interests on deposits with banks 10,410,614 6,269,884 16,680,498 Interest expense on interest-bearing borrowings (1,120,563,910 ) (189,271,789 ) (1,309,835,699 ) Net interest and fees income 1,376,609,964 283,715,832 1,660,325,796 Collaboration cost for sales partners - (174,042,054 ) (174,042,054 ) Net interest and fees income after collaboration cost 1,376,609,964 109,673,778 1,486,283,742 Provision for credit losses (316,039,450 ) (46,695,709 ) (362,735,159 ) Net interest and fees income after provision for credit losses 1,060,570,514 62,978,069 1,123,548,583

Other Gains _ (Losses), Net (Ta

Other Gains / (Losses), Net (Tables)	12 Months Ended
Other Gains / (Losses), Net (Tables)	Dec. 31, 2019
Other gains/(losses), net [Abstract]
Schedule of other gains / (losses), net	Years ended December 31, Note 2017 2018 2019 RMB RMB RMB Net (losses)/gains on sale of loans (i) - (16,697,259 ) 75,959,140 Net gains on confiscated credit risk mitigation positions (ii) - - 7,920,861 Mortgage agency service revenue (iii) 8,395,774 4,466,608 679,933 Foreign exchange (losses)/gains (2,274,438 ) 1,836,029 647,316 Net loss on disposal of property and equipment (261,875 ) (946,244 ) (3,049,896 ) Labour outsourcing services income 7,857,461 - - Net gain on disposal of subsidiaries 6,060,758 - - Asset management revenue 1,316,186 - - Register services income 183,010 - - Others 2,702,734 (3,242,074 ) 177,134 Total 23,979,610 (14,582,940 ) 82,334,488 (i) As mentioned in Note 6(c), the Group transferred the delinquent loans to third parties. Net (losses)/gains on sale of loans which summarizes the received from sales of loans are nil, net losses of RMB16,697,259 and net gains of RMB75,959,140 for the years ended December 31, 2017, 2018 and 2019, respectively. (ii) Sales partners provide credit risk mitigation positions (CRMPs) as security deposits. Pursuant to the collaboration agreements if the debtor's loan principal repayments or accrued interests are past due or the loan is in default, sales partners are obliged to fulfill their guarantee responsibility by selecting among different approaches. The CRMPs deposited by sales partners are confiscated by the Group. Net gains on confiscated CRMPs are newly increase in 2019, amounting to RMB 7,920,861. (iii) The Group earns fees from providing mortgage agency services to borrowers applying for a bank loan. This kind of revenue is recognized at the time when loan is granted as that is the point of time the Group fulfils the customer's request, and is then recognized on an accrual basis in accordance with the terms of the relevant agreements. Mortgage agency service revenue consists of revenue earned from housing mortgage agency service and cars mortgage agency service.

Other Expenses (Tables)

Other Expenses (Tables)	12 Months Ended
Other Expenses (Tables)	Dec. 31, 2019
Other Expenses [Abstract]
Schedule of other expenses	Years ended December 31, 2017 2018 2019 RMB RMB RMB Advertising and promotion expenses 15,028,164 15,323,838 45,789,035 Litigation fees 3,849,125 22,467,468 25,305,057 Attorney fees 2,904,807 5,983,431 23,748,333 Office and commute expenses 18,769,477 14,425,608 21,835,262 Consulting fees 2,528,958 9,580,602 16,762,953 Entertainment and travelling expenses 14,506,006 14,237,820 10,905,234 Depreciation and amortization 10,804,855 13,299,246 10,917,300 Directors and officers liability insurance - - 6,433,824 Communication expenses 2,598,250 2,549,164 2,874,165 Research and development expenses 4,794,998 1,419,878 2,430,338 Others 6,409,916 14,268,602 15,677,035 Total 82,194,556 113,555,657 182,678,536

Income Tax Expense (Tables)

Income Tax Expense (Tables)	12 Months Ended
Income Tax Expense (Tables)	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Schedule of income tax expense	Years ended December 31, 2017 2018 2019 RMB RMB RMB Current tax expense 333,883,691 401,913,951 182,459,389 Deferred tax (benefit)/expense (57,888,823 ) (105,085,476 ) 3,908,847 Total income tax expense 275,994,868 296,828,475 186,368,236
Schedule of components of the deferred tax assets and liabilities	Years ended December 31, 2018 2019 RMB RMB Deferred tax assets: Allowance for loans principal 205,058,644 254,945,409 Allowance for interest and financing fee receivables 11,281,778 22,654,969 Net operating loss carry-forwards 5,743,768 6,459,941 Lease liabilities - 9,533,485 Other deferred tax assets 1,275,001 1,388,307 Total of deferred tax assets 223,359,191 294,982,111 Valuation allowance (5,743,768 ) (6,459,941 ) Deferred tax assets, net of valuation allowance 217,615,423 288,522,170 Deferred tax liabilities: Intangible assets (742,500 ) (742,500 ) Available-for-sale investments (563,040 ) (57,014 ) Right-of-use assets - (9,533,485 ) Undistributed earnings from structured funds - (621,034,296 ) Total deferred tax liabilities (1,305,540 ) (631,367,295 )
Schedule of movement of valuation allowance	2018 2019 RMB RMB At the beginning of year 12,610,881 5,743,768 Current year additions 1,572,672 2,843,639 Current year reversals (8,391,178 ) (2,025,434 ) Current year charge-offs (48,607 ) (102,032 ) At the end of year 5,743,768 6,459,941
Schedule of income before income tax	Years ended December 31, 2017 2018 2019 RMB RMB RMB Cayman Islands - (5,671 ) (4,424,505 ) BVI (8,859,599 ) 161,953 45,003 Hongkong entities (44,257 ) (77,026 ) 2,014,052 PRC entities 817,571,481 1,157,657,930 723,377,628 Total 808,667,625 1,157,737,186 721,012,178
Schedule of reconciliation of statutory income tax rate to the effective income tax rate	Years ended December 31, 2017 2018 2019 PRC statutory income tax rate 25.00 % 25.00 % 25.00 % (Decrease)/Increase in effective income tax rate resulting from: Effect of tax holiday (0.51 )% 0.00 % 0.00 % Effect of tax-free income (4.00 )% (0.03 )% (0.06 )% Effect of disposal of subsidiaries 6.53 % 0.00 % 0.00 % Effect of non-deductible share option expense 5.65 % 0.86 % 0.55 % Effect of zero tax rate in foreign countries 0.27 % (0.00 )% 0.15 % Effect of transfer pricing 0.32 % 0.00 % 0.00 % Changes in valuation allowance 0.75 % (0.59 )% 0.11 % Others 0.11 % 0.42 % 0.09 % Effective income tax rate 34.12 % 25.66 % 25.84 %

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
Earnings Per Share (Tables)	Dec. 31, 2019
Earnings Per Share [Abstract]
Schedule of computation of basic and diluted earnings per share	Years ended December 31, 2017 2018 2019 RMB RMB RMB Net income 532,672,757 860,908,711 534,643,942 Basic weighted average number of common shares outstanding 1,230,434,041 1,251,608,224 1,371,643,240 Effect of dilutive share options 100,975,533 137,727,545 96,143,147 Dilutive weighted average number of ordinary shares 1,331,409,574 1,389,335,769 1,467,786,387 Basic earnings per share 0.43 0.69 0.39 Diluted earnings per share 0.40 0.62 0.36

Share-Based Compensation Expe_2

Share-Based Compensation Expenses (Tables)	12 Months Ended
Share-Based Compensation Expenses (Tables)	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Schedule of estimated fair value of binomial option pricing model	Share awards granted on January 3, 2017 Share awards granted on December 31, 2019 Expected volatility 40 % 41.52 % Expected dividends - - Risk-free interest rate 3.10 % 3.12 % Expected term (in years) 5 5 Expected life (in years) 6 8
Schedule of summary of share option activity	Number of shares Weighted Weighted average grant date fair value RMB RMB Balance, December 31, 2016 - - - Granted 187,933,730 - 1.27 Exercised - - - Surrendered - - - Balance, December 31, 2017 187,933,730 - 1.27 Exercisable, December 31, 2017 112,760,238 - 1.27 Expected to vest, December 31, 2017 75,173,492 - 1.27 Balance, December 31, 2017 187,933,730 - 1.27 Granted - - - Exercised - - - Surrendered - - - Balance, December 31, 2018 187,933,730 - 1.27 Exercisable, December 31, 2018 150,346,984 - 1.27 Expected to vest, December 31, 2018 37,586,746 - 1.27 Balance, December 31, 2018 187,933,730 - 1.27 Granted - - - Exercised - - - Surrendered - - - Balance, December 31, 2019 187,933,730 - 1.27 Exercisable, December 31, 2019 187,933,730 - 1.27 Expected to vest, December 31, 2019 - - - Number of shares Weighted average exercise price Weighted average grant date RMB RMB Balance, December 31, 2018 - - - Granted 119,674,780 - 0.72 Exercised - - - Surrendered - - - Balance, December 31, 2019 119,674,780 - 0.72 Exercisable, December 31, 2019 - - - Expected to vest, December 31, 2019 119,674,780 - 0.72
Schedule of fair value of options and ordinary shares estimated at the dates of option grants	Date of options grant Options granted Exercise price Fair value of option Fair value of ordinary shares January 3, 2017 75,173,492 RMB0.50 RMB1.26 RMB1.72 January 3, 2017 112,760,238 RMB0.50 RMB1.27 RMB1.72 December 31, 2019 83,772,346 RMB1.00 RMB0.71 RMB1.40 December 31, 2019 35,902,434 RMB1.00 RMB0.75 RMB1.40

Operating Leases (Tables)

Operating Leases (Tables)	12 Months Ended
Operating Leases (Tables)	Dec. 31, 2019
Operating Lease, Lease Income [Abstract]
Schedule of operating lease cost and other supplemental information	Year ended December 31, 2017 2018 2019 RMB RMB RMB Operating lease cost (1) 47,896,817 58,317,758 36,607,623 (1) Amounts include short-term leases that are immaterial. December 31, 2019 RMB Weighted-average remaining lease term 2 Years Weighted-average discount rate 4.75 % Cash paid for amounts included in the measurement of lease liabilities under operating cash flows 39,195,151 ROU assets obtained in exchange for new operating lease liabilities 38,133,941
Schedule of future minimum lease payments under non-cancellable leases	Year Ended December 31, RMB 2020 23,145,299 2021 10,876,674 2022 5,053,216 2023 581,340 2024 193,780 Thereafter - Total future operating lease payments 39,850,309 Less: imputed interest (1,716,368 ) Total present value of operating lease liabilities 38,133,941 Year Ended December 31, RMB 2019 55,912,805 2020 31,600,761 2021 17,417,081 2022 10,701,271 2023 4,601,398 Thereafter 5,247,712 Total 125,481,028

Condensed Financial Informati_2

Condensed Financial Information of the Parent Company (Tables)	12 Months Ended
	Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract]
Schedule of Condensed Balance Sheets	Condensed balance sheets December 31, 2018 December 31, 2019 RMB RMB Assets Cash and cash equivalents 319,807,618 7,192,877 Investments in subsidiaries 392,559,403 392,559,403 Other assets - 316,693,899 Total assets 712,367,021 716,446,179 Liabilities and shareholders' equity Accrued employee benefits - 418,572 Other operating liabilities 8,158,984 10,988,499 Total liabilities 8,158,984 11,407,071 Ordinary shares (3,800,000,000 shares authorized; 1,371,643,240 shares with USD0.0001 as par value issued as of December 31, 2018 and December 31, 2019) 916,743 916,743 Additional paid-in capital 705,422,445 705,422,445 Retained earnings (5,672 ) (4,430,177 ) Accumulated other comprehensive income: Foreign currency translation adjustment (2,125,479 ) 3,130,097 Total shareholders' equity 704,208,037 705,039,108 Total liabilities and shareholders' equity 712,367,021 716,446,179
Schedule of Condensed Statements of Comprehensive Income	Condensed statements of comprehensive income 2018 2019 RMB RMB Interest and fees income Interest on deposits with banks - 426,672 Total interest and fees income - 426,672 Other revenue - 3,353,216 Total non-interest income - 3,353,216 Total Revenue - 3,779,888 Operating expenses Employee compensation and benefits - (660,018 ) Other expenses (5,672 ) (7,544,375 ) Total operating expenses (5,672 ) (8,204,393 ) Income before income tax (5,672 ) (4,424,505 ) Income tax expense - - Net loss (5,672 ) (4,424,505 ) Other comprehensive (losses)/income Foreign currency translation adjustment (2,125,479 ) 5,255,576 Comprehensive (losses)/income (2,131,151 ) 831,071
Schedule of Condensed Statements of Cash Flows	Condensed statements of cash flows 2018 2019 RMB RMB Cash flows from operating activities: Net loss (5,672 ) (4,424,505 ) Other operating assets - (316,693,899 ) Other operating liabilities 7,311 3,248,087 Net cash provided by operating activities 1,639 (317,870,317 ) Cash flows from financing activities: Proceeds from initial public offering, net of offering cost paid of RMB51,967,702 in 2018 321,930,733 - Net cash provided by financing activities 321,930,733 - Net increase in cash and cash equivalents 321,932,372 (317,870,317 ) Cash and cash equivalents at the beginning of year - 319,807,618 Effect of exchange rate change on cash and cash equivalents (2,124,754 ) 5,255,576 Cash and cash equivalents at the end of year 319,807,618 7,192,877

Description of Business, Orga_3

Description of Business, Organization, and Basis of Presentation (Details)	12 Months Ended
	Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2019HKD ($)
Sincere Fame International Limited [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Place of incorporation/establishment	British Virgin Islands
Date of incorporation/establishment	Oct. 6, 2006
Registered capital \| $		$ 1,230,434.04
Issued and fully paid up capital \| $		$ 1,230,434.04
Percentage of equity attributable to the Group - Direct	100.00%	100.00%	100.00%
Percentage of equity attributable to the Group - Indirect
Principal activities	Investment Holding
Guangzhou Heze Information Technology Co., Ltd. [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Sep. 16, 2010
Registered capital	¥ 20,000,000
Issued and fully paid up capital	¥ 20,000,000
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%	100.00%	100.00%
Principal activities	Software development and maintenance
Fanhua Chuang Li Information Technology (Shenzhen) Co., Ltd. [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Dec. 21, 1999
Registered capital \| $			$ 400,000,000
Issued and fully paid up capital \| $			$ 400,000,000
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%	100.00%	100.00%
Principal activities	Investment Holding
Shenzhen Fanhua United Investment Group Co., Ltd. [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Aug. 9, 2006
Registered capital	¥ 250,000,000
Issued and fully paid up capital	¥ 250,000,000
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%	100.00%	100.00%
Principal activities	Investment Holding
Guangzhou Anyu Mortgage Consulting Co., Ltd. [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Jan. 23, 2003
Registered capital	¥ 2,220,000
Issued and fully paid up capital	¥ 2,220,000
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%	100.00%	100.00%
Principal activities	Micro credit and mortgage agency services
Chongqing Fengjie Financial Advisory Co., Ltd. [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Jun. 13, 2010
Registered capital	¥ 500,000
Issued and fully paid up capital	¥ 500,000
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%	100.00%	100.00%
Principal activities	Financial consultancy
Guangzhou Chengze Information Technology Co., Ltd. [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Dec. 11, 2006
Registered capital	¥ 3,000,000
Issued and fully paid up capital	¥ 3,000,000
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%	100.00%	100.00%
Principal activities	Software development and maintenance
Chongqing Liangjiang New Area Fanhua Micro-credit Co., Ltd. [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Dec. 26, 2011
Registered capital \| $		$ 30,000,000
Issued and fully paid up capital \| $		$ 30,000,000
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%	100.00%	100.00%
Principal activities	Micro credit and mortgage agency services
Shenzhen Fanhua Micro-credit Co., Ltd. [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Mar. 15, 2012
Registered capital	¥ 300,000,000
Issued and fully paid up capital	¥ 300,000,000
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%	100.00%	100.00%
Principal activities	Micro credit and mortgage agency services
Shenzhen Fanhua Fund Management Services Co., Ltd. [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Jun. 8, 2012
Registered capital	¥ 5,000,000
Issued and fully paid up capital	¥ 5,000,000
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%	100.00%	100.00%
Principal activities	Company register service
Beijing Lianxin Chuanghui Information Technology Co., Ltd. [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Feb. 2, 2012
Registered capital \| $			$ 10,000,000
Issued and fully paid up capital \| $			$ 10,000,000
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%	100.00%	100.00%
Principal activities	Software development and maintenance
Shenzhen Fanlian Investment Co., Ltd. [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Nov. 26, 2012
Registered capital	¥ 30,000,000
Issued and fully paid up capital	¥ 30,000,000
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%	100.00%	100.00%
Principal activities	Investment Holding
Fanhua Financial Leasing (Shenzhen) Co., Ltd. [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Sep. 4, 2012
Registered capital \| $		$ 10,000,000
Issued and fully paid up capital \| $		$ 10,000,000
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%	100.00%	100.00%
Principal activities	Financial leasing
Shenzhen Fanhua Chengyu Finance Service Co., Ltd. [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Mar. 15, 2013
Registered capital	¥ 10,000,000
Issued and fully paid up capital	¥ 10,000,000
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%	100.00%	100.00%
Principal activities	Labour outsourcing services
Beijing Fanhua Qilin Capital Management Co., Ltd. [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Dec. 26, 2016
Registered capital	¥ 100,000,000
Issued and fully paid up capital	¥ 10,000,000
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	96.00%	96.00%	96.00%
Principal activities	Asset Management
Shijiazhuang Fanhua Financial Advisory Co., Ltd. [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Jul. 27, 2017
Registered capital	¥ 2,000,000
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%	100.00%	100.00%
Principal activities	Financial Consultancy
Taizhou Fanhua Financial Advisory Co., Ltd. [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Sep. 28, 2017
Registered capital	¥ 500,000
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%	100.00%	100.00%
Principal activities	Financial Consultancy
Xuzhou Shenfanlian Enterprise Management Co., Ltd. [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Dec. 7, 2017
Registered capital	¥ 10,000,000
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%	100.00%	100.00%
Principal activities	Enterprise Management
Zhenjiang Fanhua Business Service Advisory Co., Ltd. [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Oct. 16, 2017
Registered capital	¥ 500,000
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%	100.00%	100.00%
Principal activities	Business Advisory
Nantong Shenfanlian Enterprise Management Co., Ltd. [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Sep. 8, 2017
Registered capital	¥ 5,000,000
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%	100.00%	100.00%
Principal activities	Enterprise Management
Jiaxing Fanhua Enterprise Management Advisory Co., Ltd. [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Feb. 7, 2018
Registered capital	¥ 500,000
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%	100.00%	100.00%
Principal activities	Enterprise Management
Baoding Fanjie Financial Advisory Co., Ltd. [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Feb. 9, 2018
Registered capital	¥ 500,000
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%	100.00%	100.00%
Principal activities	Financial Consultancy
Shenzhen Fancheng Business Operation Management Partnership (Limited Partnership) [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Jun. 22, 2018
Registered capital	¥ 500,000,000
Issued and fully paid up capital	¥ 36,210,000
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%	100.00%	100.00%
Principal activities	Enterprise Management
Fanxiaoxuan Cultural Media (Guangzhou) Co., Ltd. [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Jul. 16, 2018
Registered capital	¥ 1,000,000
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%	100.00%	100.00%
Principal activities	Enterprise Management
China Financial Services Group Limited [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Place of incorporation/establishment	Hong Kong
Date of incorporation/establishment	Aug. 28, 2000
Registered capital \| $			$ 100,000,000
Issued and fully paid up capital \| $			$ 100,000,000
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%	100.00%	100.00%
Principal activities	Investment Holding
Guangzhou Fanze Information Technology Co., Ltd. [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Feb. 27, 2019
Registered capital	¥ 10,000,000
Issued and fully paid up capital
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%	100.00%	100.00%
Principal activities	Software development and maintenance
Langfang Fanhua Technology Co., Ltd. [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Sep. 9, 2019
Registered capital	¥ 200,000
Issued and fully paid up capital
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%	100.00%	100.00%
Principal activities	Software development and maintenance
Shenyang Fanhua Financial Advisory Co., Ltd. [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Nov. 18, 2019
Registered capital	¥ 1,000,000
Issued and fully paid up capital
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%	100.00%	100.00%
Principal activities	Financial consultancy

Description of Business, Orga_4

Description of Business, Organization, and Basis of Presentation (Details 1)	12 Months Ended
	Dec. 31, 2019
Jinghua Structured Fund 6 [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Sep. 9, 2014
Principal activities	Micro credit
Bohai Trust Shenfanlian Micro Finance Structured Fund [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Sep. 14, 2016
Principal activities	Micro credit
Bohai Huihe SME Structured Fund [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Sep. 29, 2017
Principal activities	Micro credit
Zhongyuan Wealth Anhui Structured Fund 1 [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Jan. 20, 2017
Principal activities	Micro credit
Zhongyuan Wealth Anhui Structured Fund 2 [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Aug. 18, 2017
Principal activities	Micro credit
Beijing Fanhua Micro-Credit Company Limited [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Aug. 10, 2012
Principal activities	Micro credit and mortgage agency services
No.27 Jinghua Structured Fund [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	May 18, 2018
Principal activities	Micro credit
No.29 Jinghua Structured Fund [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	May 16, 2018
Principal activities	Micro credit
Yuecai Loan Structured Arrangement [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Jul. 6, 2018
Principal activities	Micro credit
Zhonghai Lanhai Structured Fund 1 [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Jul. 18, 2018
Principal activities	Micro credit
Bairui Hengyi No.613 Structured Fund [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Jul. 25, 2018
Principal activities	Micro credit
Bohai Trust No.1 Huiying Structured Fund [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Sep. 10, 2018
Principal activities	Micro credit
Bohai Trust No.2 Shenzhen Fanhua United Structured Fund [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Nov. 28, 2018
Principal activities	Micro credit
Everbright No.1 Business Acceleration Structured Fund [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Nov. 29, 2018
Principal activities	Micro credit
Jinghua Structured Fund 1 [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	May 8, 2019
Principal activities	Micro credit
Zhonghai Lanhai Structured Fund 1-2 [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Jun. 28, 2019
Principal activities	Micro credit
Zhonghai Lanhai Structured Fund 1-3 [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Sep. 11, 2019
Principal activities	Micro credit
Hunan Structured Fund 2019-1 [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Sep. 23, 2019
Principal activities	Micro credit
Hunan Structured Fund 2019-2 [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Sep. 23, 2019
Principal activities	Micro credit
Shaanxi International Xinglong Structured Fund 1-1 [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Nov. 6, 2019
Principal activities	Micro credit
Shaanxi International Xinglong Structured Fund 2-1 [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Sep. 24, 2019
Principal activities	Micro credit
Bairui Hengyi No.711 Structured Fund [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Sep. 20, 2019
Principal activities	Micro credit
Zhonghai Lanhai Structured Fund 1-4 [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Oct. 10, 2019
Principal activities	Micro credit
Zhongyuan Wealth Anhui Structured Fund 49 [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Oct. 24, 2019
Principal activities	Micro credit
Bairui Hengyi No.724 Structured Fund [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Nov. 11, 2019
Principal activities	Micro credit
Zhonghai Lanhai Structured Fund 1-5 [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Nov. 19, 2019
Principal activities	Micro credit
Zhonghai Lanhai Structured Fund 1-6 [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Dec. 20, 2019
Principal activities	Micro credit
No. 50 Jinghua Structured Fund [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Apr. 26, 2019
Principal activities	Micro credit
No. 70 Jinghua Structured Fund [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Dec. 25, 2019
Principal activities	Micro credit and idle funds management services
Jinghua Structured Fund 5 [Member]
Variable Interest Entity [Line Items]
Place of incorporation/establishment	the PRC
Date of incorporation/establishment	Dec. 19, 2014
Principal activities	Micro credit

Description of Business, Orga_5

Description of Business, Organization, and Basis of Presentation (Details 2) - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Variable Interest Entity [Line Items]
Cash and cash equivalents	¥ 1,705,356,424	¥ 3,161,657,934	¥ 1,190,360,385	¥ 233,138,588
Available-for-sale investments	654,328,054	682,252,159
Deferred tax assets	16,441,330	217,615,423
Other assets	207,523,016	93,345,352
Income taxes payable	136,931,899	689,415,410
Other liabilities	404,469,203	251,485,755
Variable Interest Entites, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Cash and cash equivalents	1,075,146,003	2,556,453,812
Loans principal, interest and financing service fee receivables	10,096,892,280	14,693,474,990
Available-for-sale investments	865,685,426	270,497,995
Deferred tax assets	167	216,380
Other assets	538,987,372	192,135,492
Total assets	12,576,711,248	17,712,778,669
Interest-bearing borrowings	7,090,260,790	12,552,191,338
Income taxes payable	642,912	956,881
Other liabilities	1,592,662,264	772,026,076
Total liabilities	¥ 8,683,565,966	¥ 13,325,174,295

Description of Business, Orga_6

Description of Business, Organization, and Basis of Presentation (Details 3) - CNY (¥)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Variable Interest Entity [Line Items]
Net income	¥ 534,643,942	¥ 860,908,711	¥ 532,672,757
Variable Interest Entites, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Revenues	2,939,040,096	4,030,796,059	3,247,097,840
Net income	¥ 663,949,174	¥ 910,293,862	¥ 1,074,500,910

Description of Business, Orga_7

Description of Business, Organization, and Basis of Presentation (Details 4) - CNY (¥)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Variable Interest Entity [Line Items]
Net cash provided by/ (used in) operating activities	¥ 1,299,113,604	¥ 1,324,785,868	¥ 1,286,649,584
Net cash (used in)/provided by investing activities	4,936,453,741	649,261,520	(9,583,892,655)
Net cash provided by/ (used in) financing activities	(7,695,705,050)	(2,548,924)	9,256,740,263
Variable Interest Entites, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Net cash provided by/ (used in) operating activities	(426,302,852)	367,720,114	3,858,370,455
Net cash (used in)/provided by investing activities	4,207,318,357	274,412,708	(8,905,181,155)
Net cash provided by/ (used in) financing activities	¥ (5,262,323,314)	¥ 909,251,326	¥ 5,916,858,297

Description of Business, Orga_8

Description of Business, Organization, and Basis of Presentation (Detail Textual)	Jul. 11, 2018$ / sharesshares	Mar. 27, 2018shares	Sep. 30, 2017CNY (¥)	Dec. 31, 2019CNY (¥)shares	Dec. 31, 2019$ / shares	Dec. 31, 2018CNY (¥)	Dec. 31, 2018$ / shares	Dec. 31, 2014CNY (¥)	Jan. 08, 2014$ / shares
Description of Business, Organization, and Basis of Presentation (Textual)
Ordinary shares exchanged for ordinary shares of parent company		1,230,434,040
Total issued and outstanding shares				1
Shares issued, par value per share \| (per share)					$ 0.0001		$ 0.0001		$ 0.0001
Total shares issued upon transferred	1,230,434,040			1,230,434,041
Cash and cash equivalents of structured funds \| ¥				¥ 1,073,209,525		¥ 2,457,242,507
Ordinary share [Member]
Description of Business, Organization, and Basis of Presentation (Textual)
Total issued and outstanding shares	1,230,434,041
Shares issued, par value per share \| $ / shares	$ 0.0001
Shenzhen Taotaojin Internet Financial Services Company Limited [Member]
Description of Business, Organization, and Basis of Presentation (Textual)
Registered capital \| ¥								¥ 50,000,000
Amount of consideration paid \| ¥			¥ 215,000,000
Recognized pre-tax gain on sale \| ¥			¥ 2,336,201
Sincere Fame International Limited [Member]
Description of Business, Organization, and Basis of Presentation (Textual)
Ordinary shares exchanged for ordinary shares of parent company		1,230,434,040

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - CNY (¥)	1 Months Ended	12 Months Ended
	Jan. 01, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Feb. 28, 2016
Summary of Significant Accounting Policies (Textual)
Increase to the allowance credit losses	¥ 23,830,000
Increase to the allowance credit losses, percentage	1.61%
Decrease in Retained earnings	¥ 17,870,000
Right of use assets		¥ 38,133,941			¥ 120,960,000
Accumulated amortization		¥ 13,052,565	¥ 12,518,252
Recognized income tax, percentage		25.84%	25.66%	34.12%
Trademarks [Member]
Summary of Significant Accounting Policies (Textual)
Indefinite-lived intangible assets carrying value		¥ 2,970,000	¥ 2,970,000
Software [Member]
Summary of Significant Accounting Policies (Textual)
Accumulated amortization		¥ 8,022,565	7,488,252
Cooperation agreements [Member]
Summary of Significant Accounting Policies (Textual)
Intangible assets with finite useful lives		5 years
Accumulated amortization		¥ 5,030,000	¥ 5,030,000
Recognized income tax, percentage		50.00%
Minimum [Member] \| Software [Member]
Summary of Significant Accounting Policies (Textual)
Intangible assets with finite useful lives		1 year
Maximum [Member] \| Software [Member]
Summary of Significant Accounting Policies (Textual)
Intangible assets with finite useful lives		5 years
Leasehold improvements [Member] \| Minimum [Member]
Summary of Significant Accounting Policies (Textual)
Estimated useful life of Property and equipment		1 year
Leasehold improvements [Member] \| Maximum [Member]
Summary of Significant Accounting Policies (Textual)
Estimated useful life of Property and equipment		6 years
Motor vehicles [Member] \| Minimum [Member]
Summary of Significant Accounting Policies (Textual)
Estimated useful life of Property and equipment		3 years
Motor vehicles [Member] \| Maximum [Member]
Summary of Significant Accounting Policies (Textual)
Estimated useful life of Property and equipment		8 years
Office and other equipment [Member] \| Minimum [Member]
Summary of Significant Accounting Policies (Textual)
Estimated useful life of Property and equipment		1 year
Office and other equipment [Member] \| Maximum [Member]
Summary of Significant Accounting Policies (Textual)
Estimated useful life of Property and equipment		5 years

Disposal of Subsidiaries (Detai

Disposal of Subsidiaries (Details) - Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]	Dec. 31, 2019CNY (¥)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents	¥ 10,532,048
Loans principal, interest and financing service fee receivables	28,221,115
Available-for-sale investments	33,616,143
Interest in equity method investee	20,450,000
Property and equipment	3,653,157
Intangible assets and goodwill	23,333
Deferred tax assets	12,779,966
Other assets	320,606,280
Accrued employee benefits	(2,294,431)
Income tax payable	(14,785,506)
Other liabilities	(134,312,863)
Net assets and liabilities	¥ 278,489,242

Disposal of Subsidiaries (Det_2

Disposal of Subsidiaries (Details Textual) - CNY (¥)	12 Months Ended
Disposal of Subsidiaries (Details Textual) - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disposal of Subsidiaries (Textual)
Total gain on disposal of subsidiaries			¥ 6,060,758
Disposals [Member]
Disposal of Subsidiaries (Textual)
Consideration received on disposal of subsidiaries			284,550,000
Total gain on disposal of subsidiaries			¥ 6,060,758

Fair Value Measurements (Detail

Fair Value Measurements (Details) - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018
Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Total
Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Total	721,026,923	682,252,159
Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Total
Fair value recurring [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Total	721,026,923	682,252,159
Fair value recurring [Member] \| Wealth management products [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Wealth management products	634,307,598	682,252,159
Fair value recurring [Member] \| Wealth management products [Member] \| Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Wealth management products
Fair value recurring [Member] \| Wealth management products [Member] \| Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Wealth management products	634,307,598	682,252,159
Fair value recurring [Member] \| Wealth management products [Member] \| Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Wealth management products
Fair value recurring [Member] \| Asset management products [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Asset management products	20,020,456
Fair value recurring [Member] \| Asset management products [Member] \| Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Asset management products
Fair value recurring [Member] \| Asset management products [Member] \| Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Asset management products	20,020,456
Fair value recurring [Member] \| Asset management products [Member] \| Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Asset management products
Fair value recurring [Member] \| Loans held for sale [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Loans held-for-sale	66,698,869
Fair value recurring [Member] \| Loans held for sale [Member] \| Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Loans held-for-sale
Fair value recurring [Member] \| Loans held for sale [Member] \| Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Loans held-for-sale	66,698,869
Fair value recurring [Member] \| Loans held for sale [Member] \| Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Loans held-for-sale

Cash and Cash Equivalents (Deta

Cash and Cash Equivalents (Details) - FinancialInstitutions	12 Months Ended
Cash and Cash Equivalents (Details) - FinancialInstitutions	Dec. 31, 2019	Dec. 31, 2018
Cash and Cash Equivalents (Textual)
Number of PRC individual financial institutions	3	2
Percentage of excess cash balances	10.00%	10.00%
Percentage bank deposits collectively accounted	84.00%	85.00%
Percentage cash balances collectively accounted	1.09%	0.63%

Loans Principal, Interest and_3

Loans Principal, Interest and Financing Service Fee Receivables (Details) - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018
Receivables [Abstract]
Loans principal, interest and financing service fee receivables	¥ 11,366,097,286	¥ 15,861,324,470
Less: allowance for credit losses - Individually assessed	(670,281,312)	(157,157,377)
Less: allowance for credit losses - Collectively assessed	(437,797,117)	(705,881,227)
Subtotal	(1,108,078,429)	(863,038,604)
Net loans principal, interest and financing service fee receivables	¥ 10,258,018,857	¥ 14,998,285,866

Loans Principal, Interest and_4

Loans Principal, Interest and Financing Service Fee Receivables (Details 1) - CNY (¥)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Components of allowances for loans principal, interest and financing service fee receivables
Beginning Balance, January 1	¥ 863,038,604	¥ 440,336,086
Provision for credit losses	362,735,159	433,753,901	¥ 306,752,951
Charge-offs	(217,999,589)	(11,051,383)
Loss recoveries	100,304,255
Recoveries
Ending Balance, December 31	1,108,078,429	863,038,604	440,336,086
Net loans principal, interest and financing service fee receivables	10,258,018,857	14,998,285,866
Recorded investment	11,366,097,286	15,861,324,470
Allowance for loans which are collectively assessed [Member]
Components of allowances for loans principal, interest and financing service fee receivables
Beginning Balance, January 1	705,881,227	341,599,744
Provision for credit losses	(193,390,841)	364,289,770
Charge-offs	(174,997,524)	(8,287)
Loss recoveries	100,304,255
Recoveries
Ending Balance, December 31	437,797,117	705,881,227	341,599,744
Net loans principal, interest and financing service fee receivables	9,379,408,613	14,760,930,158
Recorded investment	9,817,205,730	15,466,811,385
Allowance for loans which are individually assessed [Member]
Components of allowances for loans principal, interest and financing service fee receivables
Beginning Balance, January 1	157,157,377	98,736,342
Provision for credit losses	556,126,000	69,464,131
Charge-offs	(43,002,065)	(11,043,096)
Recoveries
Ending Balance, December 31	670,281,312	157,157,377	¥ 98,736,342
Net loans principal, interest and financing service fee receivables	878,610,244	237,355,708
Recorded investment	¥ 1,548,891,556	¥ 394,513,085

Loans Principal, Interest and_5

Loans Principal, Interest and Financing Service Fee Receivables (Details 2) - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Past Due [Line Items]
Total current	¥ 8,895,877,818	¥ 12,929,493,099
Total loans	11,366,097,286	15,861,324,470
Total non-accrual	1,632,882,956	415,938,138
90 days past due and accruing
1–30 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total current	596,669,455	1,031,203,259
31–90 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total current	240,667,057	1,484,689,974
91–180 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total current	341,220,681	159,343,805
>180 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total current	¥ 1,291,662,275	¥ 256,594,333

Loans Principal, Interest and_6

Loans Principal, Interest and Financing Service Fee Receivables (Details 3) - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018
Receivables [Abstract]
Unpaid principal balance	¥ 1,652,782,208	¥ 417,625,050
Recorded investment, Impaired loans	1,632,882,956	415,938,138
Recorded investment, Impaired loans with related allowance for credit losses	1,378,790,678	358,477,762
Recorded investment, Impaired loans without related allowance for credit losses	254,092,278	57,460,376
Related allowance for credit losses	¥ 670,281,312	¥ 157,157,377

Loans Principal, Interest and_7

Loans Principal, Interest and Financing Service Fee Receivables (Details 4) - CNY (¥)		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018
Receivables [Abstract]
Impaired loans, Average recorded investment	[1]	¥ 1,379,536,563	¥ 335,515,156
Impaired loans, Interest and fees income recognized	[2]	¥ 81,694,043	¥ 26,786,527

[1]	Average recorded investment represents ending balance for the last four quarters and does not include the related allowance for credit losses.
[2]	The interest and fees income recognized are those interest and financing service fee recognized related to impaired loans. All the amounts are recognized on cash basis.

Loans Principal, Interest and_8

Loans Principal, Interest and Financing Service Fee Receivables (Details Textual) - CNY (¥)		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Loans and Leases Receivable Disclosure [Line Items]
Carrying amount of loans		¥ 11,366,097,286	¥ 15,861,324,470
Net (losses)/gains on sale of loans	[1]	75,959,140	(16,697,259)
Third Party Investors [Member]
Loans and Leases Receivable Disclosure [Line Items]
Carrying amount of loans		497,001,089	184,621,473
Net (losses)/gains on sale of loans		75,959,140	(16,697,259)
Loans transferred to held-for-sale		¥ 370,700,724	¥ 120,822,552

[1]	As mentioned in Note 6(c), the Group transferred the delinquent loans to third parties. Net (losses)/gains on sale of loans which summarizes the received from sales of loans are nil, net losses of RMB16,697,259 and net gains of RMB75,959,140 for the years ended December 31, 2017, 2018 and 2019, respectively.

Available-for-Sale Investment_2

Available-for-Sale Investments (Details) - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Aggregate cost basis	¥ 654,100,000
Total OTTI recognized in OCI
Gross unrealized holding gains	228,054
Gross unrealized holding (losses)
Aggregate fair value	654,328,054	¥ 682,252,159
Asset management products [Member]
Debt Securities, Available-for-sale [Line Items]
Aggregate cost basis	20,000,000
Total OTTI recognized in OCI
Gross unrealized holding gains	20,456
Gross unrealized holding (losses)
Aggregate fair value	20,020,456
Wealth management products [Member]
Debt Securities, Available-for-sale [Line Items]
Aggregate cost basis	634,100,000	680,000,000
Total OTTI recognized in OCI
Gross unrealized holding gains	207,598	2,252,159
Gross unrealized holding (losses)
Aggregate fair value	¥ 634,307,598	¥ 682,252,159

Property and Equipment (Details

Property and Equipment (Details) - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Less: accumulated depreciation	¥ (36,171,900)	¥ (31,326,808)
Total	9,195,975	19,166,229
Office and other equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	22,151,112	23,774,820
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	21,636,662	25,062,449
Motor vehicles [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	¥ 1,580,101	¥ 1,655,768

Property and Equipment (Detai_2

Property and Equipment (Details Textual) - CNY (¥)	12 Months Ended
Property and Equipment (Details Textual) - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Depreciation expense	¥ 10,382,987	¥ 12,985,972

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill (Details) - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets	¥ 3,738,338	¥ 4,176,244

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill (Details 1) - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018
FiniteAndIndefiniteLivedIntangibleAssetsLineItems [Line Items]
Gross carrying value	¥ 13,820,903	¥ 13,724,496
Accumulated amortization	(13,052,565)	(12,518,252)
Net carrying value	768,338	1,206,244
Trademarks [Member]
FiniteAndIndefiniteLivedIntangibleAssetsLineItems [Line Items]
Unamortized intangible assets	2,970,000	2,970,000
Computer Software, Intangible Asset [Member]
FiniteAndIndefiniteLivedIntangibleAssetsLineItems [Line Items]
Gross carrying value	8,790,903	8,694,496
Accumulated amortization	(8,022,565)	(7,488,252)
Net carrying value	768,338	1,206,244
Cooperation Agreement [Member]
FiniteAndIndefiniteLivedIntangibleAssetsLineItems [Line Items]
Gross carrying value	5,030,000	5,030,000
Accumulated amortization	¥ (5,030,000)	(5,030,000)
Net carrying value

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill (Details 2)	Dec. 31, 2019CNY (¥)
Goodwill and Intangible Assets Disclosure [Abstract]
Year ended December 31, 2019 (actual)	¥ 534,313
Estimate for year ended December 31,
2020	521,157
2021	234,303
2022	12,878
2023
2024

Deposits (Details)

Deposits (Details)	12 Months Ended
Deposits (Details)	Dec. 31, 2019
Deposits (Textual)
Percentage of size of trust plans subscribed	1.00%

Other Assets (Details)

Other Assets (Details) - CNY (¥)		Dec. 31, 2019	Dec. 31, 2018
Other Assets [Abstract]
Guaranteed assets	[1]	¥ 100,304,255
Receivable from sale of loans	[2]	46,312,256	2,473,559
Equity securities	[3]	34,010,000	40,010,000
Less: impairment losses
Amounts due from employees	[4]	10,026,151	10,126,228
Prepayments		6,850,294	6,741,881
Receivables for realization of collaterals		5,205,818	7,164,458
Receivable from private equity funds - Principal			21,350,000
Receivable from private equity funds - Interest			4,523,205
Other receivables		4,814,242	956,021
Total		¥ 207,523,016	¥ 93,345,352

[1]	As described in Note 13, sales partners submit credit risk mitigation positions (or "CRMPs") to the Group as a guarantee for the loans under the collaboration model. When allowance for credit losses is recognized and accrued, the Group will evaluate if the loan loss recovery guaranteed by the CRMPs is probable and estimable. If the loss recovery is probable and estimable, the amount guaranteed by the CRMPs is recognized as guaranteed assets.
[2]	As mentioned in Note 6(c), the Group transferred the delinquent loans to third parties so that the Group could collect the payment more quickly than to simply dispose the collaterals through litigation. The transferred loans have been isolated from the Group. There is no constrain on the transferee's rights to pledge or exchange. The Group does not maintain effective control of transferred loans and loan transfers accounted for as sales are the transfer transactions without repurchase agreements.
[3]	In December 2013, the Group invested 10% of the paid-in capital in Guangzhou Huangpu Ronghe Village Bank Co., Ltd. ("Huangpu Ronghe"). As of December 31, 2018 and 2019, Huangpu Ronghe has paid-in capital of RMB100,000,000, and the Group has invested RMB10,000,000 in Huangpu Ronghe. In June 2016, the Group invested 10,003,334 shares at RMB3.00 per share, which represents 2.14% of the paid-in capital in Guangdong Qingyuan Rural Commercial Bank ("Qingyuan Rural"). The Group transferred 2 million shares to an unrelated third party at RMB3.00 per share that is same as the investment cost on September 18, 2019. As of December 31, 2018 and 2019, the Group invested 2.14% and 1.72% of the paid-in capital in Qingyuan Rural. Qingyuan Rural has paid-in capital of RMB1,400,000,000, and the Group has invested RMB30,010,000 and RMB24,010,000 in Qingyuan Rural, respectively. The Company's equity securities that do not have readily determinable fair values are measured at cost minus impairment and adjusted for changes in observable prices. Factors considered by the Group in determining fair value include, but are not limited to, available financial information, the issuer's ability to meet its current obligations and indications of the issuer's subsequent ability to raise capital. Under the updated standard ASU 2016-01, these investments are accounted for using the measurement alternative. No change in observable price has been identified and no impairment has recorded for the two years of 2018 and 2019.
[4]	Due from employees mainly include temporary advances to employees for payments of collateral evaluation fee, mortgage handling fee, payments for office supplies, etc. on behalf of the Group.

Other Assets (Details Textual)

Other Assets (Details Textual) - CNY (¥)	Dec. 31, 2019	Sep. 18, 2019	Dec. 31, 2018	Jun. 30, 2016	Dec. 31, 2013
Other Assets (Textual)
Percentage of paid up capital invested	1.72%		2.14%
Impairment losses
Group invested		¥ 3
Qingyuan Rural [Member]
Other Assets (Textual)
Percentage of paid up capital invested				2.14%
Paid-in capital	1,400,000,000		1,400,000,000
Amount of investment	24,010,000		30,010,000
Group invested				¥ 3
Group transfers of shares				10,003,334
Huangpu Ronghe [Member]
Other Assets (Textual)
Percentage of paid up capital invested					10.00%
Paid-in capital	100,000,000		100,000,000
Amount of investment	¥ 10,000,000		¥ 10,000,000
Unrelated third party [Member]
Other Assets (Textual)
Group transfers of shares				2,000,000

Interest-Bearing Borrowings (De

Interest-Bearing Borrowings (Details) - CNY (¥)	12 Months Ended
Interest-Bearing Borrowings (Details) - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018
Assets Sold under Agreements to Repurchase [Line Items]
Gross obligations under repurchase agreements	¥ 870,778,215	¥ 4,213,900,028
Funds obtained from asset management company [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fixed interest rate per annum	14.00%	14.00%
Term	Less than 1 year	Less than 1 year
Gross obligations under repurchase agreements		¥ 10,000,000
Funds obtained from private investment funds [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Term	Less than 1 year	Less than 1 year
Gross obligations under repurchase agreements	¥ 275,930,000	¥ 2,540,140,000
Funds obtained from private investment funds [Member] \| Minimum [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fixed interest rate per annum	10.00%	10.00%
Funds obtained from private investment funds [Member] \| Maximum [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fixed interest rate per annum	18.00%	18.00%
Funds obtained from financial institution [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Term	Within 4 years	Within 4 years
Gross obligations under repurchase agreements	¥ 589,103,161	¥ 1,625,676,189
Funds obtained from financial institution [Member] \| Minimum [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fixed interest rate per annum	9.20%	9.20%
Funds obtained from financial institution [Member] \| Maximum [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fixed interest rate per annum	13.20%	13.20%
Interest payable financial institution [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Gross obligations under repurchase agreements	¥ 5,745,054	¥ 17,323,834
Interest payable asset management company [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Gross obligations under repurchase agreements		713,425
Interest payable private investment funds [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Gross obligations under repurchase agreements		¥ 20,046,580

Interest-Bearing Borrowings (_2

Interest-Bearing Borrowings (Details 1) - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018
Assets Sold under Agreements to Repurchase [Line Items]
Gross obligations under repurchase agreements	¥ 870,778,215	¥ 4,213,900,028
Loans principal, interest and financing service fee receivables [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Gross obligations under repurchase agreements	594,848,215	1,643,000,023
Rights to earnings in the Group's subordinated tranches of consolidated VIEs [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Gross obligations under repurchase agreements	275,930,000	2,381,636,580
Rights to earnings in loans principal, interest and financing service fee receivables [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Gross obligations under repurchase agreements		¥ 189,263,425

Interest-Bearing Borrowings (_3

Interest-Bearing Borrowings (Details 2) - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018
Assets Sold under Agreements to Repurchase [Line Items]
Gross obligations under repurchase agreements	¥ 870,778,215	¥ 4,213,900,028
30 to 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Gross obligations under repurchase agreements	115,136,807	569,088,175
Up to 30 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Gross obligations under repurchase agreements	684,791,408	344,050,001
Overnight [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Gross obligations under repurchase agreements
Greater than 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Gross obligations under repurchase agreements	¥ 70,850,000	¥ 3,300,761,852

Interest-Bearing Borrowings (_4

Interest-Bearing Borrowings (Details 3) - CNY (¥)		12 Months Ended
Interest-Bearing Borrowings (Details 3) - CNY (¥)		Dec. 31, 2019		Dec. 31, 2018
Assets Sold under Agreements to Repurchase [Line Items]
Other borrowings		¥ 6,652,138,315		¥ 11,110,876,011
Short-term [Member] \| Investors of consolidated VIEs [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Term	[1]	Less than 1 year		Less than 1 year
Short-term	[1]	¥ 4,505,914,751		¥ 4,237,790,000
Short-term [Member] \| Investors of consolidated VIEs [Member] \| Minimum [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fixed interest rate per annum	[1]	7.00%		7.00%
Short-term [Member] \| Investors of consolidated VIEs [Member] \| Maximum [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fixed interest rate per annum	[1]	12.70%		12.70%
Short-term [Member] \| Investors of wealth management product which invests in the Group's loans portfolio [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fixed interest rate per annum	[2]	11.00%		11.00%
Term	[2]	Less than 1 year		Less than 1 year
Short-term	[2]			¥ 10,423,230
Short-term [Member] \| Asset management partnerships [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Term	[3]	Less than 1 year		Less than 1 year
Short-term	[3]			¥ 78,950,000
Short-term [Member] \| Asset management partnerships [Member] \| Minimum [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fixed interest rate per annum	[3]	11.00%		11.00%
Short-term [Member] \| Asset management partnerships [Member] \| Maximum [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fixed interest rate per annum	[3]	15.00%		15.00%
Short-term [Member] \| Micro-credit companies [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Term	[4]	Less than 1 year		Less than 1 year
Short-term	[4]			¥ 30,000,000
Short-term [Member] \| Micro-credit companies [Member] \| Minimum [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fixed interest rate per annum	[4]	13.00%		13.00%
Short-term [Member] \| Micro-credit companies [Member] \| Maximum [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fixed interest rate per annum	[4]	13.50%		13.50%
Long-term [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Amount of long-term funds obtained		¥ 2,093,583,228
Long-term [Member] \| Investors of consolidated VIEs [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Term	[1]	Within 5 years		Within 5 years
Amount of long-term funds obtained	[1]	¥ 2,056,035,701		¥ 6,548,437,241
Long-term [Member] \| Investors of consolidated VIEs [Member] \| Minimum [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fixed interest rate per annum		7.20%	[1]	7.20%
Long-term [Member] \| Investors of consolidated VIEs [Member] \| Maximum [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fixed interest rate per annum		12.70%	[1]	12.70%
Long-term [Member] \| Senior tranche of trust plan which invests in the Group's loans portfolio [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fixed interest rate per annum	[5]	10.24%		10.24%
Term	[5]	Within 2 years		Within 2 years
Amount of long-term funds obtained	[5]	¥ 37,547,527		¥ 82,718,203
Interest payable to [Member] \| Investors of consolidated VIEs [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Other borrowings	[1]	52,640,336		121,127,920
Interest payable to [Member] \| Asset management partnerships [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Other borrowings	[3]			1,275,806
Interest payable to [Member] \| Micro-credit companies [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Other borrowings	[4]			¥ 153,611

[1]	The financial liabilities arising from the VIEs with underlying investments in loans to customers are classified as payables in these consolidated financial statements. It is because the Group has an obligation to pay senior tranches holders upon maturity dates based on the related terms of those consolidated structured funds.
[2]	The borrowings from investors of wealth management product which invested in the Group's loans portfolio were the capitals from A-class purchasers of Lianda Baoli Co., Ltd., bearing interest at 11% per year. As of December 31, 2019, the borrowings have been fully repaid.
[3]	As of December 31, 2018, the borrowings from asset management partnerships are from (1) Zhuhai Longhua Qifu NO.1 Fund Partnership (Limited Partnership) with principal RMB50 million, (2) Ningbo Longhua Zhihe Investment Management Partnership (Limited Partnership) with principal RMB20 million, (3) Jilin Northeast Asia Innovation Financial Assets Trading Center Co., Ltd. with principal RMB8.95 million, bearing interest at 11%, 11.47% and 15% per year, respectively. As of December 31, 2019, the borrowings from asset management partnerships have been fully repaid.
[4]	The borrowings were from Guangdong Province Yueke Technology Micro-credit Co., Ltd. bearing interests at 13% to 13.5% per year. As of December 31, 2019, the borrowings have been fully repaid.
[5]	As of December 31, 2019, the borrowings from senior tranche of trust plan which invested in the Group's loans portfolio were the capitals from senior tranche holders of No.1 Wukuang Trust Yangguang Fanhua Plan with principal RMB37.55 million, bearing interests at 10.24% per year.

Interest-Bearing Borrowings (_5

Interest-Bearing Borrowings (Details 4) - long-term [Member] - CNY (¥)		Dec. 31, 2019	Dec. 31, 2018
Assets Sold under Agreements to Repurchase [Line Items]
2020
2021		871,399,783
2022		464,695,088
2023		741,421,520
2024
Thereafter		16,066,837
Total		2,093,583,228
Senior tranche of trust plan which invests in the Group's loans portfolio [Member]
Assets Sold under Agreements to Repurchase [Line Items]
2020
2021		37,547,527
2022
2023
2024
Thereafter
Total	[1]	37,547,527	¥ 82,718,203
Investors of consolidated VIEs [Member]
Assets Sold under Agreements to Repurchase [Line Items]
2020
2021		833,852,256
2022		464,695,088
2023		741,421,520
2024
Thereafter		16,066,837
Total	[2]	¥ 2,056,035,701	¥ 6,548,437,241

[1]	As of December 31, 2019, the borrowings from senior tranche of trust plan which invested in the Group's loans portfolio were the capitals from senior tranche holders of No.1 Wukuang Trust Yangguang Fanhua Plan with principal RMB37.55 million, bearing interests at 10.24% per year.
[2]	The financial liabilities arising from the VIEs with underlying investments in loans to customers are classified as payables in these consolidated financial statements. It is because the Group has an obligation to pay senior tranches holders upon maturity dates based on the related terms of those consolidated structured funds.

Interest-Bearing Borrowings (_6

Interest-Bearing Borrowings (Details 5) - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018
Assets Sold under Agreements to Repurchase [Line Items]
Pledged assets	¥ 2,175,211,273	¥ 5,568,519,362
Rights to earnings in loans principal, interest and financing service fee receivables [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Pledged assets	92,628,340	554,154,772
Rights to earnings in the Group's subordinated tranches of consolidated VIEs [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Pledged assets	1,369,872,606	3,474,391,373
Loans principal, interest and financing service fee receivables [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Pledged assets	¥ 712,710,327	¥ 1,539,973,217

Interest-Bearing Borrowings (_7

Interest-Bearing Borrowings (Details Textual) - CNY (¥)	Mar. 29, 2019	Jan. 28, 2019	Dec. 17, 2018	Jul. 11, 2018	Jun. 15, 2018	Nov. 20, 2018	Dec. 31, 2018	Dec. 31, 2019	Jun. 07, 2018
Haide Asset Management Co Ltd. [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Loans principal, interest and financing service fee receivables with carrying amount				¥ 200,000,000
Interest rate				10.00%
Terms of transferred loans overdue				90 days
Amount of long-term funds obtained								¥ 45,180,534
Interest payable								564,353
Weihai Blue Ocean Bank Co.Ltd. [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Loans principal, interest and financing service fee receivables with carrying amount					¥ 499,991,939
Interest rate					10.00%
Terms of transferred loans overdue					80 days		36 months
Amount of long-term funds obtained								66,648,588
Interest payable								803,744
Suzhou Asset Management Co Ltd [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Loans principal, interest and financing service fee receivables with carrying amount			¥ 299,609,168
Interest rate			11.00%
Terms of transferred loans overdue			90 days
Amount of long-term funds obtained								91,091,308
Interest payable								1,121,040
Xiamen Asset Management Co Ltd [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Loans principal, interest and financing service fee receivables with carrying amount						¥ 499,999,800			¥ 499,521,447
Terms of transferred loans overdue						90 days
Amount of long-term funds obtained								359,297,996
Interest payable								3,097,961
Xiamen Asset Management Co Ltd [Member] \| Maximum [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Interest rate						9.50%
Xiamen Asset Management Co Ltd [Member] \| Minimum [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Interest rate						9.20%
Guangdong Yueke Asset Management Co., Ltd [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Loans principal, interest and financing service fee receivables with carrying amount	¥ 27,016,646	¥ 13,793,897
Interest rate	13.20%	13.20%
Amount of long-term funds obtained								26,884,735
Interest payable								¥ 157,956

Interest-Bearing Borrowings (_8

Interest-Bearing Borrowings (Details Textual 1) - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018
Assets Sold under Agreements to Repurchase [Line Items]
Carrying value of collateral for repurchase agreements	¥ 2,082,582,932	¥ 5,369,457,734
Wukuang Trust Yangguang Fanhua Plan [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Principal payment	¥ 37,550,000
Interest rate	10.24%
Guangdong Province Yueke Technology Micro-Credit Co., Ltd [Member] \| Minimum [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Interest rate	13.00%
Guangdong Province Yueke Technology Micro-Credit Co., Ltd [Member] \| Maximum [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Interest rate	13.50%
Zhuhai Longhua Qifu No.1 Fund Partnership [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Principal payment		¥ 50,000,000
Interest rate		11.00%
Ningbo Longhua Zhihe Investment Management Partnership [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Principal payment		¥ 20,000,000
Interest rate		11.47%
Jilin Northeast Asia Innovation Financial Assets Trading Center Co Ltd [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Principal payment		¥ 8,950,000
Interest rate		15.00%

Credit Risk Mitigation Positi_2

Credit Risk Mitigation Position (Details) - Credit Risk [Member]	12 Months Ended
	Dec. 31, 2019
Minimum [Member]
loans issued to borrowers	10.00%
Maximum [Member]
loans issued to borrowers	25.00%

Other Liabilities (Details)

Other Liabilities (Details) - CNY (¥)		Dec. 31, 2019	Dec. 31, 2018
Other Liabilities Disclosure [Abstract]
Receipt in advance	[1]	¥ 118,109,316	¥ 44,083,940
Other tax payables	[2]	86,798,908	89,586,329
Customer pledged deposits	[3]	60,233,291	77,726,077
Settlement and clearing accounts	[4]	49,175,523	10,112,678
Accrued Expenses	[5]	45,156,653	13,925,288
Collaboration cost payable	[6]	29,191,882
Amounts due to third parties		10,768,698	10,952,518
Others	[7]	5,034,932	5,098,925
Total		¥ 404,469,203	¥ 251,485,755

[1]	Receipt in advance consist of advance for interest and financing service fees on loans and down payments of loans held-for-sale by loan transferees. Down payments of loans held-for-sale are newly increased in 2018, amounting to RMB35,493,777 and RMB102,491,426 as of December 31, 2018 and 2019.
[2]	Other tax payables mainly represent value-added tax and surcharges payables.
[3]	Customer pledged deposits mainly consist of the deposits collected from certain customers to reduce the risk of failure to make payments on schedule.
[4]	The Group transferred loans to third party investors and recorded these transactions as sales in Note 6(c). After the transfer, the contract terms related to payment proceeds of the loans remain the same: the Group collects payments of loans and then disburses the proceeds from the relevant loans to third-party transferees.
[5]	Accrued expenses mainly consist of promotional costs relating to building the collaboration model and expenses payable to consultants such as auditor and lawyers.
[6]	As mentioned in Note 20, the Group will pay collaboration cost to the sales partners who introduce prospective borrowers to the Group. The collaboration cost for sales partners is a fixed percentage of the loan principal amount and it is calculated by subtracting the project cost from interest and fees income received from borrowers. The collaboration cost payable was nil and RMB29,191,882 as of December 31, 2018 and 2019, respectively.
[7]	Other liabilities are expected to be settled or recognized as income within one year or are repayable on demand.

Other Liabilities (Details Text

Other Liabilities (Details Textual) - CNY (¥)	12 Months Ended
Other Liabilities (Details Textual) - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018
Other Liabilities Disclosure [Abstract]
Down payment	¥ 102,491,426	¥ 35,493,777

Ordinary Shares (Details)

Ordinary Shares (Details)	Nov. 21, 2019$ / sharesshares	Nov. 07, 2019$ / sharesshares	Jul. 11, 2018shares	Jan. 08, 2015	Dec. 31, 2019shares	Jul. 11, 2019USD ($)$ / sharesshares	Jul. 11, 2019$ / shares	Jan. 08, 2014HKD ($)$ / sharesshares
Ordinary Shares (Textual)
Authorized share capital value						$ 380,000		$ 380,000
Authorized share capital shares						3,800,000,000		3,800,000,000
Nominal or par value (in dollars per share) \| (per share)						$ 0.0001		$ 0.0001
Consideration per share of one subscriber's share allotted and issued \| $ / shares								$ 0.0001
Percentage ordinary shares of one subscriber's share allotted and issued				100.00%
Number of shares repurchased			1,230,434,041
Shares repurchased, price per share \| $ / shares							$ 0.0001
Number of shares issued			1,230,434,040		1,230,434,041
Redenomination, description			As the result of the above redenomination, the par value of the Company's shares has been changed from HKD0.0001 to USD0.0001, and its authorized share capital has been increased to USD380,000 divided into 3,800,000,000 shares of USD0.0001 each.
IPO [Member]
Ordinary Shares (Textual)
Nominal or par value (in dollars per share) \| $ / shares		$ 7.5
Number of ADS issued		6,500,000
Number of shares issued		130,000,000
Green Shoes Options [Member]
Ordinary Shares (Textual)
Nominal or par value (in dollars per share) \| $ / shares	$ 7.5	$ 7.5
Number of ADS issued	135,460	425,000
Number of shares issued	2,709,200	8,500,000

Retained Earnings (Details)

Retained Earnings (Details) - CNY (¥)		Dec. 31, 2019	Dec. 31, 2018
Retained Earnings Note Disclosure [Abstract]
PRC statutory reserves	[1]	¥ 258,654,052	¥ 258,654,052
PRC surplus reserves	[2]	147,125,493	122,148,068
Unreserved retained earnings		2,256,366,104	1,746,699,587
Total		¥ 2,662,145,649	¥ 2,127,501,707

[1]	With effect from July 1, 2012, pursuant to the "Administrative Measures on Accrual of Provisions by Financial Institutions" issued by the MOF in March 2012, the Group is required, in principle, to set aside a general reserve not lower than 1.5% of the ending balance of its gross risk-bearing assets.
[2]	In accordance with the Company's PRC subsidiaries' articles of associate, the subsidiaries are required to appropriate 10% of their net incomes, upon approval by board of directors.

Retained Earnings (Detail Textu

Retained Earnings (Detail Textual)	1 Months Ended	12 Months Ended
Retained Earnings (Detail Textual)	Mar. 31, 2012	Dec. 31, 2019
Retained Earnings (Textual)
Percentage of gross risk bearing assets	1.50%
Percentage of net income approval by board of directors		10.00%

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income / (losses) (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
AOCI Attributable to Parent, Net of Tax
Balance	¥ (4,566,518)
Other comprehensive loss, net Net-of-tax amount	(1,518,079)	¥ 1,585,705	¥ (2,601,355)
Balance	(2,119,412)	(4,566,518)
Foreign currency translation adjustment [Member]
AOCI Attributable to Parent, Net of Tax
Balance	(6,255,637)	(4,572,858)
Foreign currency translation adjustment	3,965,185	(1,682,779)
Balance	(2,290,452)	(6,255,637)	(4,572,858)
Unrealized gain on available-for-sale investments [Member]
AOCI Attributable to Parent, Net of Tax
Before tax amount, Balance	2,252,159	137,885
Income Tax (expense) or benefit, Balance	(563,040)	(34,471)
Other comprehensive loss, net Before tax amount	(2,024,106)	2,114,274
Other comprehensive loss, net Income Tax (expense) or benefit	506,027	(528,569)
Other comprehensive loss, net Net-of-tax amount	(1,518,079)	1,585,705
Before tax amount	228,053	2,252,159	137,885
Income Tax (expense) or benefit, Balance	(57,013)	(563,040)	(34,471)
AOCI Attributable to Parent [Member]
AOCI Attributable to Parent, Net of Tax
Balance	1,689,119	103,414
Other comprehensive loss, net Net-of-tax amount	(1,518,079)	1,585,705
Balance	¥ 171,040	¥ 1,689,119	¥ 103,414

Interest and Financing Servic_3

Interest and Financing Service Fee on Loans (Details)	12 Months Ended
Interest and Financing Service Fee on Loans (Details)	Dec. 31, 2019CNY (¥)
Interest and financing service fee on loans	¥ 2,953,480,997
Interests on deposits with banks	16,680,498
Interest expense on interest-bearing borrowings	(1,309,835,699)
Net interest and fees income	1,660,325,796
Collaboration cost for sales partners	(174,042,054)
Net interest and fees income after collaboration cost	1,486,283,742
Provision for credit losses	(362,735,159)
Net interest and fees income after provision for credit losses	1,123,548,583
Original Model [Member]
Interest and financing service fee on loans	2,486,763,260
Interests on deposits with banks	10,410,614
Interest expense on interest-bearing borrowings	(1,120,563,910)
Net interest and fees income	1,376,609,964
Collaboration cost for sales partners
Net interest and fees income after collaboration cost	1,376,609,964
Provision for credit losses	(316,039,450)
Net interest and fees income after provision for credit losses	1,060,570,514
Collaboration Model [Memeber]
Interest and financing service fee on loans	466,717,737
Interests on deposits with banks	6,269,884
Interest expense on interest-bearing borrowings	(189,271,789)
Net interest and fees income	283,715,832
Collaboration cost for sales partners	(174,042,054)
Net interest and fees income after collaboration cost	109,673,778
Provision for credit losses	(46,695,709)
Net interest and fees income after provision for credit losses	¥ 62,978,069

Interest and Financing Servic_4

Interest and Financing Service Fee on Loans (Details Textual) - CNY (¥)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Interest and Financing Service Fee on Loans (Textual)
Interest income on loans	¥ 2,906,171,249	¥ 4,150,727,434	¥ 3,154,190,318
Financing service fee on loans	¥ 47,309,748	¥ 128,092,934	¥ 251,920,274

Collaboration Cost for Sales Pa

Collaboration Cost for Sales Partners (Details)	12 Months Ended
Collaboration Cost for Sales Partners (Details)	Dec. 31, 2019CNY (¥)
Collaboration cost for sales partners	¥ (174,042,054)
Cost of Sales [Member] \| Maximum [Member]
loans issued to the borrowers, percentages	25.00%
Cost of Sales [Member] \| Minimum [Member]
loans issued to the borrowers, percentages	10.00%

Realized Gains _ (Losses) on _2

Realized Gains / (Losses) on Sales of Investments, Net (Details Textual) - CNY (¥)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Realized Gains / (Losses) on Sales of Investments, Net (Textual)
Gross realized gains on sales of investments	¥ 46,126,258	¥ 3,185,026	¥ 9,024,132
Gross realized losses on sales of investments			¥ 20,551,930

Other Gains _ (Losses), Net (De

Other Gains / (Losses), Net (Details) - CNY (¥)		12 Months Ended
Other Gains / (Losses), Net (Details) - CNY (¥)		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other gains/(losses), net [Abstract]
Net (losses)/gains on sale of loans	[1]	¥ 75,959,140	¥ (16,697,259)
Net gains on confiscated credit risk mitigation positions	[2]	7,920,861
Mortgage agency service revenue	[3]	679,933	4,466,608	8,395,774
Foreign exchange (losses)/gains		647,316	1,836,029	(2,274,438)
Net loss on disposal of property and equipment		(3,049,896)	(946,244)	(261,875)
Labour outsourcing services income				7,857,461
Net gain on disposal of subsidiaries				6,060,758
Asset management revenue				1,316,186
Register services income				183,010
Others		177,134	(3,242,074)	2,702,734
Total		¥ 82,334,488	¥ (14,582,940)	¥ 23,979,610

[1]	As mentioned in Note 6(c), the Group transferred the delinquent loans to third parties. Net (losses)/gains on sale of loans which summarizes the received from sales of loans are nil, net losses of RMB16,697,259 and net gains of RMB75,959,140 for the years ended December 31, 2017, 2018 and 2019, respectively.
[2]	Sales partners provide credit risk mitigation positions (CRMPs) as security deposits. Pursuant to the collaboration agreements if the debtor's loan principal repayments or accrued interests are past due or the loan is in default, sales partners are obliged to fulfill their guarantee responsibility by selecting among different approaches. The CRMPs deposited by sales partners are confiscated by the Group. Net gains on confiscated CRMPs are newly increase in 2019, amounting to RMB 7,920,861.
[3]	The Group earns fees from providing mortgage agency services to borrowers applying for a bank loan. This kind of revenue is recognized at the time when loan is granted as that is the point of time the Group fulfils the customer's request, and is then recognized on an accrual basis in accordance with the terms of the relevant agreements. Mortgage agency service revenue consists of revenue earned from housing mortgage agency service and cars mortgage agency service.

Other Gains _ (Losses), Net (_2

Other Gains / (Losses), Net (Details Textual) - CNY (¥)		12 Months Ended
Other Gains / (Losses), Net (Details Textual) - CNY (¥)		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other Gains / (Losses), Net (Textual)
Net (losses)/gains on sale of loans	[1]	¥ 75,959,140	¥ (16,697,259)
Net gains on confiscated CRMPs		¥ 7,920,861

[1]	As mentioned in Note 6(c), the Group transferred the delinquent loans to third parties. Net (losses)/gains on sale of loans which summarizes the received from sales of loans are nil, net losses of RMB16,697,259 and net gains of RMB75,959,140 for the years ended December 31, 2017, 2018 and 2019, respectively.

Other Expenses (Details)

Other Expenses (Details) - CNY (¥)	12 Months Ended
Other Expenses (Details) - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other Expenses [Abstract]
Advertising and promotion expenses	¥ 45,789,035	¥ 15,323,838	¥ 15,028,164
Litigation fees	25,305,057	22,467,468	3,849,125
Attorney fees	23,748,333	5,983,431	2,904,807
Office and commute expenses	21,835,262	14,425,608	18,769,477
Consulting fees	16,762,953	9,580,602	2,528,958
Entertainment and travelling expenses	10,905,234	14,237,820	14,506,006
Depreciation and amortization	10,917,300	13,299,246	10,804,855
Directors and officers liability insurance	6,433,824
Communication expenses	2,874,165	2,549,164	2,598,250
Research and development expenses	2,430,338	1,419,878	4,794,998
Others	15,677,035	14,268,602	6,409,916
Total	¥ 182,678,536	¥ 113,555,657	¥ 82,194,556

Income Tax Expense (Details)

Income Tax Expense (Details) - CNY (¥)	12 Months Ended
Income Tax Expense (Details) - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Current tax expense	¥ 182,459,389	¥ 401,913,951	¥ 333,883,691
Deferred tax (benefit)/expense	3,908,847	(105,085,476)	(57,888,823)
Total income tax expense	¥ 186,368,236	¥ 296,828,475	¥ 275,994,868

Income Tax Expense (Details 1)

Income Tax Expense (Details 1) - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets:
Allowance for loans principal	¥ 254,945,409	¥ 205,058,644
Allowance for interest and financing fee receivables	22,654,969	11,281,778
Net operating loss carry-forwards	6,459,941	5,743,768
Lease liabilities	9,533,485
Other deferred tax assets	1,388,307	1,275,001
Total of deferred tax assets	294,982,111	223,359,191
Valuation allowance	(6,459,941)	(5,743,768)	¥ (12,610,881)
Deferred tax assets, net of valuation allowance	288,522,170	217,615,423
Deferred tax liabilities:
Intangible assets	(742,500)	(742,500)
Available-for-sale investments	(57,014)	(563,040)
Right-of-use assets	(9,533,485)
Undistributed earnings from structured funds	(621,034,296)
Total deferred tax liabilities	¥ (631,367,295)	¥ (1,305,540)

Income Tax Expense (Details 2)

Income Tax Expense (Details 2) - CNY (¥)	12 Months Ended
Income Tax Expense (Details 2) - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018
Movement of Valuation Allowance
At the beginning of year	¥ 5,743,768	¥ 12,610,881
Current year additions	2,843,639	1,572,672
Current year reversals	(2,025,434)	(8,391,178)
Current year charge-offs	(102,032)	(48,607)
At the end of year	¥ 6,459,941	¥ 5,743,768

Income Tax Expense (Details 3)

Income Tax Expense (Details 3) - CNY (¥)	12 Months Ended
Income Tax Expense (Details 3) - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Contingency [Line Items]
Total	¥ 721,012,178	¥ 1,157,737,186	¥ 808,667,625
Cayman Islands [Member]
Income Tax Contingency [Line Items]
Total	(4,424,505)	(5,671)
BVI [Member]
Income Tax Contingency [Line Items]
Total	45,003	161,953	(8,859,599)
Hongkong entities [Member]
Income Tax Contingency [Line Items]
Total	2,014,052	(77,026)	(44,257)
PRC entities [Member]
Income Tax Contingency [Line Items]
Total	¥ 723,377,628	¥ 1,157,657,930	¥ 817,571,481

Income Tax Expense (Details 4)

Income Tax Expense (Details 4)	12 Months Ended
Income Tax Expense (Details 4)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
PRC statutory income tax rate	25.00%	25.00%	25.00%
(Decrease)/Increase in effective income tax rate resulting from:
Effect of tax holiday	(0.00%)	(0.00%)	(0.51%)
Effect of tax-free income	(0.06%)	(0.03%)	(4.00%)
Effect of disposal of subsidiaries	0.00%	0.00%	6.53%
Effect of non-deductible share option expense	0.55%	0.86%	5.65%
Effect of zero tax rate in foreign countries	0.15%	(0.00%)	0.27%
Effect of transfer pricing	0.00%	0.00%	0.32%
Changes in valuation allowance	0.11%	(0.59%)	0.75%
Others	0.09%	0.42%	0.11%
Effective income tax rate	25.84%	25.66%	34.12%

Income Tax Expense (Details Tex

Income Tax Expense (Details Textual) - CNY (¥)	12 Months Ended
Income Tax Expense (Details Textual) - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Expense (Textual)
PRC statutory income tax rate	25.00%	25.00%	25.00%
Effect of tax holiday to income tax expense			¥ 4,000,000
Basic earnings per ordinary share (in dollars per share)			¥ 0.003
Diluted earnings per ordinary share (in dollars per share)			¥ 0.003
Net operating loss carryforwards	¥ 25,839,764
Deferred tax assets net operating loss carryforwards	6,459,941	¥ 5,743,768
Cumulative amount of temporary difference in respect of investments PRC subsidiaries	¥ 2,744,856,109
Percentage of withholding income tax	10.00%
Amount of unrecognized deferred tax liabilities	¥ 274,485,611
Net operating losses subject to expiration in year in 2022 and 2023	14,465,207
Net operating losses subject to expiration if not utilized	¥ 11,374,557
Income tax payable		¥ 555,752,187
Shenzhen Taotaojin Internet Financial Services Company Limited [Member]
Income Tax Expense (Textual)
Reduction of the income tax rate	50.00%

Earnings Per Share (Details)

Earnings Per Share (Details) - CNY (¥)	12 Months Ended
Earnings Per Share (Details) - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share [Abstract]
Net income	¥ 534,643,942	¥ 860,908,711	¥ 532,672,757
Basic weighted average number of common shares outstanding	1,371,643,240	1,251,608,224	1,230,434,041
Effect of dilutive share options	¥ 96,143,147	¥ 137,727,545	¥ 100,975,533
Dilutive weighted average number of ordinary shares	1,467,786,387	1,389,335,769	1,331,409,574
Basic earnings per share	¥ 0.39	¥ 0.69	¥ 0.43
Diluted earnings per share	¥ 0.36	¥ 0.62	¥ 0.40

Earnings Per Share (Details Tex

Earnings Per Share (Details Textual) - shares	12 Months Ended
Earnings Per Share (Details Textual) - shares	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share (Textual)
Basic weighted average number of common shares outstanding	1,371,643,240	1,251,608,224	1,230,434,041

Share-Based Compensation Expe_3

Share-Based Compensation Expenses (Details)	12 Months Ended
Share-Based Compensation Expenses (Details)	Dec. 31, 2019
Share awards granted on January 3, 2017("2018 Option") [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	40.00%
Expected dividends
Risk-free interest rate	3.10%
Expected term (in years)	5 years
Expected life (in years)	6 years
Share awards granted on December 31, 2019 (2019 Option) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	41.52%
Expected dividends
Risk-free interest rate	3.12%
Expected term (in years)	5 years
Expected life (in years)	8 years

Share-Based Compensation Expe_4

Share-Based Compensation Expenses (Details 1) - ¥ / shares	12 Months Ended
Share-Based Compensation Expenses (Details 1) - ¥ / shares	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share Incentive Plan 2018 [Member]
Number of shares
Balance	187,933,730	187,933,730
Granted			187,933,730
Exercised
Surrendered
Balance	187,933,730	187,933,730	187,933,730
Exercisable	187,933,730	150,346,984	112,760,238
Expected to vest		37,586,746	75,173,492
Weighted average exercise price
Balance
Granted
Exercised
Surrendered
Balance
Exercisable
Expected to vest
Weighted average grant date fair value
Balance	1.27	1.27
Granted			1.27
Exercised
Surrendered
Balance	1.27	1.27	1.27
Exercisable	1.27	1.27	1.27
Expected to vest		¥ 1.27	¥ 1.27
Share Incentive Plan 2019 [Member]
Number of shares
Balance
Granted	119,674,780
Exercised
Surrendered
Balance	119,674,780
Exercisable
Expected to vest	119,674,780
Weighted average exercise price
Balance
Granted
Exercised
Surrendered
Balance
Exercisable
Expected to vest
Weighted average grant date fair value
Balance
Granted	0.72
Exercised
Surrendered
Balance	0.72
Exercisable
Expected to vest	¥ 0.72

Share-Based Compensation Expe_5

Share-Based Compensation Expenses (Details 2)	12 Months Ended
Share-Based Compensation Expenses (Details 2)	Dec. 31, 2019¥ / sharesshares
Options grant on January 3, 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted \| shares	75,173,492
Exercise price	¥ 0.50
Fair value of option	1.26
Fair value of ordinary shares	¥ 1.72
Second options grant on January 3, 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted \| shares	112,760,238
Exercise price	¥ 0.50
Fair value of option	1.27
Fair value of ordinary shares	¥ 1.72
Options grant on December 31, 2019 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted \| shares	83,772,346
Exercise price	¥ 1
Fair value of option	0.71
Fair value of ordinary shares	¥ 1.40
Second options grant on December 31, 2019 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted \| shares	35,902,434
Exercise price	¥ 1
Fair value of option	0.75
Fair value of ordinary shares	¥ 1.40

Share-Based Compensation Expe_6

Share-Based Compensation Expenses (Details Textual) - CNY (¥)	Jan. 03, 2017	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost		¥ 86,614,000
Weighted average period recognized or expected		1 year 4 months 6 days
Share awards granted on January 3, 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized compensation expenses		¥ 15,886,067	¥ 39,715,168
2017 Share Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granting options to purchase	187,933,730
Risk-free rate expected term	6 years
Terms of award	Years 2017 to 2019
2017 Share Incentive Plan [Member] \| December 31, 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award vesting rights	60.00%
2017 Share Incentive Plan [Member] \| December 31, 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award vesting rights	20.00%
2017 Share Incentive Plan [Member] \| December 31, 2019 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award vesting rights	20.00%
Share Incentive Plan 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granting options to purchase		119,674,780
Terms of award		Years 2020 to 2022
2019 Option [Member] \| December 31, 2020 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award vesting rights		50.00%
2019 Option [Member] \| December 31, 2021 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award vesting rights		30.00%
2019 Option [Member] \| December 31, 2022 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award vesting rights		20.00%
2018 Option [Member] \| December 31, 2022 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free rate expected term		6 years

Material Related Party Transa_2

Material Related Party Transactions (Details)	1 Months Ended	12 Months Ended
Material Related Party Transactions (Details)	May 31, 2018CNY (¥)	Dec. 31, 2019CNY (¥)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)	Dec. 31, 2016CNY (¥)	Dec. 31, 2015CNY (¥)	Dec. 31, 2015USD ($)
Related Party Transaction [Line Items]
Amount of interest expense generated from borrowings			¥ 610,405	¥ 8,714,000
Total interest expense		¥ 1,309,835,699	1,943,059,522	¥ 1,409,905,685
Board of Directors Chairman [Member]
Related Party Transaction [Line Items]
Interest rate				0.02%
Loan agreement as lender				¥ 5,010,800
Fanhua Inc and Its Subsidiaries [Member]
Related Party Transaction [Line Items]
Percentage of equity interests owns of CISG Holdings Limited		100.00%
Fanhua Inc and Its Subsidiaries [Member] \| Revolving Loan Agreement [Member]
Related Party Transaction [Line Items]
Loan granted						¥ 317,990,000
Interest rate						7.30%	7.30%
Principal amount of revolving loan outstanding
Principals and interests payable					¥ 32,494,914
Fanhua Inc and Its Subsidiaries [Member] \| Revolving Loan Agreement [Member] \| USD [Member]
Related Party Transaction [Line Items]
Loan granted \| $							$ 50,000,000
Fanhua Inc and Its Subsidiaries [Member] \| Short-term Debt [Member]
Related Party Transaction [Line Items]
Loan granted				¥ 460,000,000
Interest rate				7.30%
Amount of interest expense generated from borrowings				¥ 8,714,000
Jinghua Structure Fund Twenty Seven [Member] \| Fanhua Inc and Its Subsidiaries [Member]
Related Party Transaction [Line Items]
Valid term of contract	10 years
Senior units	¥ 115,000,000
Intermediate units	23,000,000
Subordinated units	¥ 15,350,000
Total interest expense			¥ 6,308,306

Operating Leases (Details )

Operating Leases (Details ) - CNY (¥)	12 Months Ended
Operating Leases (Details ) - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Lease, Lease Income [Abstract]
Operating lease cost	¥ 36,607,623	¥ 58,317,758	¥ 47,896,817
Weighted-average remaining lease term	2 years
Weighted-average discount rate	4.75%
Cash paid for amounts included in the measurement of lease liabilities under operating cash flows	¥ 39,195,151
ROU assets obtained in exchange for new operating lease liabilities	¥ 38,133,941

Operating Leases (Details 1)

Operating Leases (Details 1) - CNY (¥)	12 Months Ended
Operating Leases (Details 1) - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018
Operating Lease, Lease Income [Abstract]
2019		¥ 55,912,805
2020		31,600,761
2021		17,417,081
2022		10,701,271
2023		4,601,398
Thereafter		5,247,712
Total		¥ 125,481,028
2020	¥ 23,145,299
2021	10,876,674
2022	5,053,216
2023	581,340
2024	193,780
Thereafter
Total future operating lease payments	39,850,309
Less: imputed interest	(1,716,368)
Total present value of operating lease liabilities	¥ 38,133,941

Operating Leases (Details Textu

Operating Leases (Details Textual)	12 Months Ended
Operating Leases (Details Textual)	Dec. 31, 2019
Operating Leases (Textual)
Non-cancelable operating leases	The Group leases multiple office spaces which are contracted under various non-cancelable operating leases, most which provide extension or early termination options and are generally expired in 1 to 4 years. The Group does not enter into any finance leases or leases where the Group is a lessor. Moreover, the existing operating lease agreements do not contain any residual value guarantees or material restrictive covenants. Management determine if an arrangement is a lease at inception and record the leases in the financial statements upon lease commencement, which is the date when the underlying office space is made available for use by the lessor. The incremental borrowing rates determined for computing the lease liabilities are based on the People's Bank of China (PBOC) Benchmark Rates for terms of loans ranging from zero (exclusive) to 5 years and above.

Condensed Financial Informati_3

Condensed Financial Information of the Parent Company (Details) - CNY (¥)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Assets
Cash and cash equivalents	¥ 1,705,356,424	¥ 3,161,657,934	¥ 1,190,360,385	¥ 233,138,588
Other assets	207,523,016	93,345,352
Total assets	13,026,248,967	19,354,717,165
Liabilities and shareholders' equity
Other operating liabilities	404,469,203	251,485,755
Total liabilities	9,427,716,472	16,309,161,785
Ordinary shares (3,800,000,000 shares authorized; 1,371,643,240 shares with USD0.0001 as par value issued as of December 31, 2018 and December 31, 2019)	916,743	916,743
Additional paid-in capital	937,589,515	921,703,448
Retained earnings	2,662,145,649	2,127,501,707
Accumulated other comprehensive income: Foreign currency translation adjustment	(2,119,412)	(4,566,518)
Total shareholders' equity	3,598,532,495	3,045,555,380	1,831,248,792	¥ 1,118,686,418
Total liabilities and shareholders' equity	13,026,248,967	19,354,717,165
Parent Company [Member]
Assets
Cash and cash equivalents	7,192,877	319,807,618
Investments in subsidiaries	392,559,403	392,559,403
Other assets	316,693,899
Total assets	716,446,179	712,367,021
Liabilities and shareholders' equity
Accrued employee benefits	418,572
Other operating liabilities	10,988,499	8,158,984
Total liabilities	11,407,071	8,158,984
Ordinary shares (3,800,000,000 shares authorized; 1,371,643,240 shares with USD0.0001 as par value issued as of December 31, 2018 and December 31, 2019)	916,743	916,743
Additional paid-in capital	705,422,445	705,422,445
Retained earnings	(4,430,177)	(5,672)
Accumulated other comprehensive income: Foreign currency translation adjustment	3,130,097	(2,125,479)
Total shareholders' equity	705,039,108	704,208,037
Total liabilities and shareholders' equity	¥ 716,446,179	¥ 712,367,021

Condensed Financial Informati_4

Condensed Financial Information of the Parent Company (Details) (Parenthetical)	Dec. 31, 2019$ / sharesshares	Dec. 31, 2018$ / sharesshares	Jan. 08, 2014$ / shares
Condensed Balance Sheet Statements, Captions [Line Items]
Ordinary shares, shares authorized	3,800,000,000	3,800,000,000
Ordinary shares, par value (in dollars per share) \| (per share)	$ 0.0001	$ 0.0001	$ 0.0001
Common stock, shares issued	1,371,643,240	1,371,643,240
Parent Company [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Ordinary shares, shares authorized	3,800,000,000	3,800,000,000
Ordinary shares, par value (in dollars per share) \| $ / shares	$ 0.0001	$ 0.0001
Common stock, shares issued	1,371,643,240	1,371,643,240

Condensed Financial Informati_5

Condensed Financial Information of the Parent Company (Details 1) - CNY (¥)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Interest and fees income
Total interest and fees income	¥ 1,660,325,796	¥ 2,349,605,444	¥ 2,000,542,084
Total non-interest income	128,460,746	(11,397,914)	12,451,812
Operating expenses
Employee compensation and benefits	(228,135,061)	(443,071,028)	(545,956,248)
Other expenses	(182,678,536)	(113,555,657)	(82,194,556)
Total operating expenses	(530,997,151)	(746,716,443)	(897,573,320)
Income before income tax	721,012,178	1,157,737,186	808,667,625
Income tax expense	(186,368,236)	(296,828,475)	(275,994,868)
Net income (loss)	534,643,942	860,908,711	532,672,757
Other comprehensive (losses)/income
Comprehensive (losses)/income	537,091,048	860,811,637	¥ 529,872,608
Parent Company [Member]
Interest and fees income
Interest on deposits with banks	426,672
Total interest and fees income	426,672
Other revenue	3,353,216
Total non-interest income	3,353,216
Total Revenue	3,779,888
Operating expenses
Employee compensation and benefits	(660,018)
Other expenses	(7,544,375)	(5,672)
Total operating expenses	(8,204,393)	(5,672)
Income before income tax	(4,424,505)	(5,672)
Income tax expense
Net income (loss)	(4,424,505)	(5,672)
Other comprehensive (losses)/income
Foreign currency translation adjustment	5,255,576	(2,125,479)
Comprehensive (losses)/income	¥ 831,071	¥ (2,131,151)

Condensed Financial Informati_6

Condensed Financial Information of the Parent Company (Details 2) - CNY (¥)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net income (loss)	¥ 534,643,942	¥ 860,908,711	¥ 532,672,757
Other operating assets	197,658,322	(138,548,636)	(289,327,710)
Other operating liabilities	(283,008,921)	205,466,514	691,081,484
Net cash provided by operating activities	1,299,113,604	1,324,785,868	1,286,649,584
Cash flows from financing activities:
Proceeds from initial public offering, net of offering cost paid of RMB51,967,702 in 2018		313,779,783
Net cash provided by financing activities	(7,695,705,050)	(2,548,924)	9,256,740,263
Net increase in cash and cash equivalents	(1,460,137,705)	1,971,498,464	959,497,192
Cash and cash equivalents at the beginning of year	3,161,657,934	1,190,360,385	233,138,588
Effect of exchange rate change on cash and cash equivalents	3,836,195	(200,915)	(2,275,395)
Cash and cash equivalents at the end of year	1,705,356,424	3,161,657,934	1,190,360,385
Parent Company [Member]
Cash flows from operating activities:
Net income (loss)	(4,424,505)	(5,672)
Other operating assets	(316,693,899)
Other operating liabilities	3,248,087	7,311
Net cash provided by operating activities	(317,870,317)	1,639
Cash flows from financing activities:
Proceeds from initial public offering, net of offering cost paid of RMB51,967,702 in 2018		321,930,733
Net cash provided by financing activities		321,930,733
Net increase in cash and cash equivalents	(317,870,317)	321,932,372
Cash and cash equivalents at the beginning of year	319,807,618
Effect of exchange rate change on cash and cash equivalents	5,255,576	(2,124,754)
Cash and cash equivalents at the end of year	¥ 7,192,877	¥ 319,807,618

Condensed Financial Informati_7

Condensed Financial Information of the Parent Company (Details 2) (Parenthetical)	12 Months Ended
	Dec. 31, 2018CNY (¥)
Condensed Cash Flow Statements, Captions [Line Items]
Initial public offering, net of offering cost	¥ 51,967,702
Parent Company [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Initial public offering, net of offering cost	¥ 51,967,702

Condensed Financial Informati_8

Condensed Financial Information of the Parent Company (Details Textual)	Jan. 05, 2015	Dec. 31, 2019$ / shares	Dec. 31, 2018$ / shares	Jan. 08, 2014$ / shares
Ordinary shares, par value per share (in dollars per share) \| (per share)		$ 0.0001	$ 0.0001	$ 0.0001
Ordinary share percentage	100%
Cayman Islands [Member]
Ordinary shares, par value per share (in dollars per share)				$ 0.0001