CNFinance Holdings Limited (CNF) 20-F28 Apr 212020 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, 2020shares
Document Information Line Items
Entity Registrant Name	CNFinance Holdings Ltd.
Document Type	20-F
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding	1,371,643,240
Amendment Flag	false
Entity Central Index Key	0001733868
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	true
Entity File Number	001-38726
Entity Interactive Data Current	Yes
Document Annual Report	true
Document Shell Company Report	false
Document Transition Report	false
Entity Incorporation, State or Country Code	E9

Consolidated Balance Sheets

Consolidated Balance Sheets - CNY (¥)	Dec. 31, 2020	Dec. 31, 2019
Assets
Cash, cash equivalents and restricted cash	¥ 1,960,922,758	¥ 1,705,356,424
Loans principal, interest and financing service fee receivables (include loans held-for-sale of RMB370,700,724 and RMB586,206,781,with RMB66,698,869 and RMB76,013,067 measured at fair value as of December 31, 2019 and 2020, respectively)	9,688,941,024	11,366,097,286
Allowance for credit losses	659,479,450	1,108,078,429
Net loans principal, interest and financing service fee receivables	9,029,461,574	10,258,018,857
Investment securities	418,136,773	654,328,054
Property and equipment	4,716,148	9,195,975
Intangible assets and goodwill	3,230,126	3,738,338
Deferred tax assets	75,823,512	16,441,330
Deposits	114,051,773	133,513,032
Right-of-use assets	19,468,523	38,133,941
Other assets	607,684,977	207,523,016
Total assets	12,233,496,164	13,026,248,967
Interest-bearing borrowings
Borrowings under agreements to repurchase	508,576,882	870,778,215
Other borrowings	5,649,669,343	6,652,138,315
Accrued employee benefits	29,627,379	37,276,343
Income taxes payable	154,806,738	136,931,899
Deferred tax liabilities	396,594,182	359,286,455
Lease liabilities	19,544,499	38,133,941
Credit risk mitigation position	1,209,729,138	928,702,101
Other liabilities	523,697,125	404,469,203
Total liabilities	8,492,245,286	9,427,716,472
Ordinary shares (3,800,000,000 shares authorized; 1,371,643,240 shares with USD0.0001 as par value issued as of December 31, 2019 and December 31, 2020)	916,743	916,743
Additional paid-in capital	999,662,882	937,589,515
Retained earnings	2,759,127,799	2,662,145,649
Accumulated other comprehensive losses	(18,456,546)	(2,119,412)
Total shareholders’ equity	3,741,250,878	3,598,532,495
Total liabilities and shareholders’ equity	¥ 12,233,496,164	¥ 13,026,248,967

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals)	Dec. 31, 2020CNY (¥)shares	Dec. 31, 2019CNY (¥)shares
Statement of Financial Position [Abstract]
Net of allowance for loans principal, interest and financing service fee receivables \| ¥	¥ 586,206,781	¥ 370,700,724
Loans held-for-sale \| ¥	¥ 76,013,067	¥ 66,698,869
Ordinary shares, shares authorized \| shares	3,800,000,000	3,800,000,000
Ordinary shares, 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, 2020	Dec. 31, 2019	Dec. 31, 2018
Interest and fees income
Interest and financing service fees on loans		¥ 1,828,687,910	¥ 2,953,480,997	¥ 4,278,820,368
Interest on deposits with banks		16,133,918	16,680,498	13,844,598
Total interest and fees income		1,844,821,828	2,970,161,495	4,292,664,966
Interest and fees expenses
Interest expenses on interest-bearing borrowings		(731,315,365)	(1,309,835,699)	(1,942,449,117)
Interest expenses paid to related parties				(610,405)
Total interest and fees expenses		(731,315,365)	(1,309,835,699)	(1,943,059,522)
Net interest and fees income		1,113,506,463	1,660,325,796	2,349,605,444
Collaboration cost for sales partners		(415,104,428)	(174,042,054)
Net interest and fees income after collaboration cost		698,402,035	1,486,283,742	2,349,605,444
Provision for credit losses (net of increase in guaranteed recoverable assets of nil, RMB 100,304,255 and RMB 433,376,273 for years ended 2018, 2019 and 2020, respectively)		(277,586,423)	(362,735,159)	(433,753,901)
Net interest and fees income after collaboration cost and provision for credit losses		420,815,612	1,123,548,583	1,915,851,543
Realized gains on sales of investments, net		20,153,659	46,126,258	3,185,026
Net (losses)/gains on sales of loans		149,631,456	75,959,140	(16,697,259)
Other gains, net		19,762,053	6,375,348	2,114,319
Total non-interest (losses)/incomes		189,547,168	128,460,746	(11,397,914)
Operating expenses
Employee compensation and benefits		(190,374,014)	(228,135,061)	(443,071,028)
Share-based compensation expenses		(62,073,367)	(15,886,067)	(39,715,168)
Taxes and surcharges		(49,452,609)	(67,689,864)	(81,198,115)
Operating lease cost	[1]	(21,719,042)	(36,607,623)	(58,317,758)
Offering expenses				(10,858,717)
Other expenses		(124,042,182)	(182,678,536)	(113,555,657)
Total operating expenses		(447,661,214)	(530,997,151)	(746,716,443)
Income before income tax expense		162,701,566	721,012,178	1,157,737,186
Income tax expense		(47,849,040)	(186,368,236)	(296,828,475)
Net income		¥ 114,852,526	¥ 534,643,942	¥ 860,908,711
Earnings per share
Basic (in Yuan Renminbi per share)		¥ 0.08	¥ 0.39	¥ 0.69
Diluted (in Yuan Renminbi per share)		¥ 0.08	¥ 0.36	¥ 0.62
Other comprehensive income/(losses)
Net unrealized income/(losses) on investment securities		¥ (171,040)	¥ (1,518,079)	¥ 1,585,705
Foreign currency translation adjustment		(16,166,094)	3,965,185	(1,682,779)
Comprehensive income		¥ 98,515,392	¥ 537,091,048	¥ 860,811,637

[1]	Amounts include short-term leases that are immaterial.

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parentheticals) - CNY (¥)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Net of increase in loss recoverable	¥ 433,376,273	¥ 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, 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 investment securities				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 investment securities				(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
Cumulative effect from change in accounting policies	[1]				(17,870,376)	(17,870,376)
Net income					114,852,526	114,852,526
Foreign currency translation adjustment				(16,166,094)		(16,166,094)
Unrealized losses on investment securities				(171,040)		(171,040)
Share-based compensation			62,073,367			62,073,367
Balance at Dec. 31, 2020		¥ 916,743	¥ 999,662,882	¥ (18,456,546)	¥ 2,759,127,799	¥ 3,741,250,878

[1]	We adopted CECL effective January 1, 2020. For additional information, see Note 2 (Summary of Significant Accounting Policies) for more information.

Consolidated statements of cash

Consolidated statements of cash flows - CNY (¥)	12 Months Ended
Consolidated statements of cash flows - CNY (¥)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income	¥ 114,852,526	¥ 534,643,942	¥ 860,908,711
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	277,586,423	362,735,159	433,753,901
Depreciation and amortization	6,047,226	10,917,300	13,299,246
Share-based compensation expenses	62,073,367	15,886,067	39,715,168
Net losses on disposal of property and equipment	2,868	3,049,896	946,244
Foreign exchange (gains)/losses	5,345,004	(647,316)	(1,836,029)
Deferred tax (benefit)/expense	(94,389,779)	3,908,847	(105,085,476)
Losses/ (gains) on sale of loans	(149,631,456)	(75,959,140)	16,697,259
Profit and loss arising from fair value changes	(56,773)
Originations and purchases	(152,062,194)	(550,365,329)	(7,871,176)
Proceeds from sales and paydowns of loans originally classified as held for sale	637,716,580	207,192,005	35,232,875
Deposits	19,461,259	44,704,926	(27,892,733)
Credit risk mitigation position	281,027,037	928,702,101
Other operating assets	(28,446,434)	97,354,067	(138,548,636)
Other operating liabilities	140,051,328	(283,008,921)	205,466,514
Net cash provided by/(used in) operating activities	1,119,576,982	1,299,113,604	1,324,785,868
Cash flows from investing activities:
Loans originated, net of principal collected	(89,215,328)	4,371,766,370	785,703,866
Proceeds from sales of investment securities	7,187,477,436	2,654,500,000	390,050,000
Cash received from disposal of investment in equity securities		6,000,000
Proceeds from disposal of subsidiaries			29,658,807
Proceeds from disposal of property and equipment and intangible assets	2,159,345	881,111	3,044,763
Proceeds from sales of loans	378,308,227	536,346,406	165,626,448
Purchases of investment securities	(6,951,457,436)	(2,628,600,000)	(710,000,000)
Purchases of property, equipment and intangible assets	(3,221,401)	(4,440,146)	(14,822,364)
Net cash provided by investing activities	524,050,843	4,936,453,741	649,261,520
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	6,014,983,918	2,793,124,280	10,931,383,040
Proceeds from related party			138,000,000
Repayment of interest-bearing borrowings	(7,382,122,623)	(10,488,829,330)	(11,352,964,066)
Repayment through related party			(32,747,681)
Net cash used in financing activities	(1,367,138,705)	(7,695,705,050)	(2,548,924)
Net increase/(decrease) in cash, cash equivalents and restricted cash	276,489,120	(1,460,137,705)	1,971,498,464
Cash, cash equivalents and restricted cash at the beginning of year	1,705,356,424	3,161,657,934	1,190,360,385
Effect of exchange rate change on cash, cash equivalents and restricted cash	(20,922,786)	3,836,195	(200,915)
Cash, cash equivalents and restricted cash at the end of year	1,960,922,758	1,705,356,424	3,161,657,934
Supplemental disclosures of cash flow information:
Income taxes paid	46,378,568	179,190,712	95,837,024
Interest expense paid	¥ 728,846,965	¥ 1,412,091,485	¥ 2,002,298,692

Consolidated statements of ca_2

Consolidated statements of cash flows (Parentheticals)	12 Months Ended
Consolidated statements of cash flows (Parentheticals)	Dec. 31, 2020CNY (¥)
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, 2020
Accounting Policies [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 financial institution. 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 (“the traditional facilitation model”). All loans were secured by residential or commercial real estate as of December 31, 2020. 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 traditional facilitation 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 the loan borrowers who has financial needs for their business operations. 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 14, 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, 2019 and 2020, 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, 2020 Name of company Place and date of incorporation/ establishment Registered Issued and fully paid up capital Percentage of equity attributable to the Group 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 and mortgage agency services 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 Chongqing Liangjiang New Area Fanhua Micro-credit Co., Ltd. the PRC USD 30,000,000 USD 30,000,000 - 100 % Micro credit and mortgage agency services Shenzhen Fanhua Micro-credit Co., Ltd. the PRC RMB 300,000,000 RMB 300,000,000 - 100 % Micro credit and mortgage agency services Name of company Place and date of incorporation/ establishment Registered Issued and fully paid up capital Percentage of equity attributable to the Group Principal activities Direct Indirect Shenzhen Fanhua Fund Management Services Co., Ltd. 深圳泛华基金管理服务有限公司 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. 泛华融资租赁深圳有限公司 the PRC USD 10,000,000 USD 10,000,000 - 100 % Business Shenzhen Fanhua Chengyu Finance Service Co., Ltd. 深圳泛华诚誉金融配套服务有限公司 the PRC March 15, 2013 RMB 10,000,000 RMB 10,000,000 - 100 % Labor outsourcing services Beijing Fanhua Qilin Capital Management Co., Ltd. 北京泛华麒麟资本管理有限公司 the PRC RMB 100,000,000 RMB 10,000,000 - 96 % Asset Management Shijiazhuang Fanhua Financial Advisory 石家庄泛华财务咨询有限公司 the PRC RMB 2,000,000 - - 100 % Financial Consultancy Taizhou Fanhua Financial Advisory Co., Ltd. 泰州泛华财务咨询服务有限公司 the PRC RMB 500,000 - - 100 % Financial Consultancy Xuzhou Shenfanlian Enterprise Management Co., Ltd. 徐州深泛联企业管理有限公司 the PRC RMB 10,000,000 - - 100 % Enterprise Management Name of company Place and establishment Registered Issued paid up capital Percentage of to the Group Principal activities Direct Indirect Nantong Shenfanlian Enterprise Management Co., Ltd. 南通深泛联企业管理有限公司 the PRC RMB 5,000,000 - - 100 % Enterprise Management Baoding Fanjie Financial Advisory Co., Ltd. 保定泛杰财务咨询有限公司 the PRC RMB 500,000 - - 100 % Financial Consultancy Shenzhen Fancheng 深圳泛诚商业运营管理合伙企业有限合伙 the PRC RMB 500,000,000 RMB 34,550,000 - 100 % Enterprise Management Fanxiaoxuan Cultural 泛小宣文化传媒广州有限公司 the PRC RMB 1,000,000 - - 100 % Enterprise Management 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 Luoyang Fanzhan Information technology Co., Ltd. the PRC RMB 500,000 - - 100 % Software development and maintenance Lanzhou Fanhua Enterprise Information Advisory Co., Ltd. the PRC RMB 200,000 - - 100 % Enterprise Management Yantai Shenzhen Fanlian Financial Advisory Co., Ltd. the PRC RMB 1,000,000 - - 100 % Financial consultancy Name of company Place and Registered Issued Percentage of Principal Direct Indirect Haikou Fanhua Financial Advisory Co., Ltd. 海口市泛华财务咨询有限公司 the PRC RMB 1,000,000 - - 100 % Financial consultancy Ganzhou Shenzhen Fanlian Financial Advisory Co., Ltd. 赣州深泛联财务咨询有限公司 the PRC RMB 1,000,000 - - 100 % Financial consultancy Guiyang Fanhua Financial Advisory Co., Ltd. 贵阳泛华财务咨询有限公司 the PRC RMB 1,000,000 - - 100 % Financial consultancy Lianyungang Shenzhen Fanlian Economic Information Advisory Co., Ltd. 连云港深泛联经济信息咨询有限公司 the PRC RMB 1,000,000 - - 100 % Financial consultancy Fanhua Jinfu (Foshan) Co., Ltd. 泛华金服（佛山）有限公司 the PRC RMB 200,000,000 - - 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 Structured funds 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 RMB1,073,209,525 and RMB1,034,933,331 as of December 31, 2019 and 2020 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, 2019 and 2020. The table sets forth the investments in the consolidated VIEs by the Group as of December 31, 2020. Name of structured funds Place and Principal Jinghua Structured Fund 5 the PRC Micro credit Jinghua Structured Fund 6 the PRC Micro credit Bohai Trust Shenfanlian Micro Finance Structured Fund the PRC Micro credit Bohai Huihe SME Structured Fund the PRC Micro credit Zhongyuan Wealth Anhui Structured Fund 1 the PRC Micro credit Zhongyuan Wealth Anhui Structured Fund 2 the PRC Micro credit Beijing Fanhua Micro-credit Company Limited the PRC Micro credit and mortgage agency services No.27 Jinghua Structured Fund the PRC May, 18,2018 Micro credit No.29 Jinghua Structured Fund the PRC May, 16,2018 Micro credit Yuecai Loan Structured Arrangement the PRC July 6, 2018 Micro credit Zhonghai Lanhai Structured Fund 1 the PRC July 18, 2018 Micro credit Bairui Hengyi No.613 Structured Fund the PRC July 25, 2018 Micro credit Bohai Trust No.1 Huiying Structured Fund the PRC September 10, 2018 Micro credit Bohai Trust No.2 Shenzhen Fanhua United Structured Fund the PRC November 28, 2018 Micro credit Everbright No.1 Business Acceleration Structured Fund the PRC Micro credit Name of structured funds Place and Principal Jinghua Structured Fund 1 the PRC Micro credit Zhonghai Lanhai Structured Fund 1-2 the PRC Micro credit Zhonghai Lanhai Structured Fund 1-3 中海信托-蓝海1-3号集合资金信托计划 the PRC Micro credit Hunan Structured Fund 2019-1 the PRC Micro credit Hunan Structured Fund 2019-2 the PRC Micro credit Shaanxi International Xinglong Structured Fund 1-1 the PRC Micro credit Shaanxi International Xinglong Structured Fund 2-1 the PRC Micro credit Bairui Hengyi No.711 Structured Fund the PRC Micro credit Zhonghai Lanhai Structured Fund 1-4 the PRC Micro credit Zhongyuan Wealth Anhui Structured Fund 49 the PRC Micro credit Bairui Hengyi No.724 Structured Fund the PRC Micro credit Zhonghai Lanhai Structured Fund 1-5 the PRC Micro credit Zhonghai Lanhai Structured Fund 1-6 the PRC Micro credit No. 50 Jinghua Structured Fund the PRC Micro credit Name of structured funds Place and Principal No. 70 Jinghua Structured Fund the PRC Micro credit Zhonghai Lanhai Structured Fund 1-1 the PRC Micro credit Shaanxi International Xinglong Structured Fund 22-1 the PRC Micro credit Zhonghai Lanhai Structured Fund 1-7 the PRC Micro credit No. 74 Jinghua Structured Fund the PRC Micro credit Hunan Structured Fund 2020-1 the PRC Micro credit The table sets forth the assets and liabilities of the consolidated VIEs included in the Group’s consolidated balance sheets: December 31, 2019 2020 RMB RMB Cash and cash equivalents 1,075,146,003 1,038,176,909 Loans principal, interest and financing service fee receivables 10,096,892,280 8,852,118,199 Investment securities 865,685,426 1,612,974,725 Deferred tax assets 167 - Other assets 538,987,372 1,008,676,130 Total assets 12,576,711,248 12,511,945,963 Interest-bearing borrowings 7,090,260,790 5,701,590,909 Income taxes payable 642,912 642,912 Other liabilities 1,592,662,264 2,178,875,062 Total liabilities 8,683,565,966 7,881,108,883 The table sets forth the results of operations of the VIEs included in the Group’s consolidated statements of comprehensive income: 2018 2019 2020 RMB RMB RMB Revenue 4,030,796,059 2,939,040,096 1,915,875,820 Net income 910,293,862 663,949,174 658,400,554 The table sets forth the cash flows of the VIEs included in the Group’s consolidated statements of cash flows: 2018 2019 2020 RMB RMB RMB Net cash provided by/(used in) operating activities 367,720,114 (426,302,852 ) (303,745,231 ) Net cash provided by/(used in) investing activities 274,412,708 4,207,318,357 692,705,844 Net cash provided by/(used in) financing activities 909,251,326 (5,262,323,314 ) (429,173,286 )

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2020
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, guarantee assets, the valuation allowance for deferred tax assets, unrecognized tax benefits, the indefinite reinvestment assertion, the fair value of investment securities and the fair value of share-based compensation. (d) Revenue recognition Interest and financing service fees 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 is 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 fees on loans Interest and financing service fees on loans, which include financing service fees on loans, are collected from borrowers for loans and related services. Interest and financing service fees on loans include 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 fees 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 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. (iii) Realized gains/(losses) on sales of investments Realized gains/(losses) consist of realized gains and losses from the sale of investment securities, presented on a net basis. (iv) Gains on confiscation of credit risk mitigation positions (or “CRMPs”) Gains on confiscation of credit risk mitigation positions are recognized when sales partners surrender the CRMPs and the obligation of refunding the CRMPs is released. (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 11(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, interest and financing service fees accrual cease. 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 fees 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 For the years ended December 31, 2018 and 2019, the Group considered loans principal, interest and financing service fee receivables meeting any of the following conditions as uncollectible 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. In order to align the Group’s charge-off policies with ASC 326-20-35-8 (superseded ASC 310-10-35-41), the Group revised its charge-off policies to (1) provide additional information as to the collection efforts which must be exhausted before a charge-off is recorded and (2) charge down loans that are 180 days past due to net realizable value (fair value of collaterals, less estimated costs to sell) unless both well-secured and in the process of collection. The revised charge-off policies are presented as follows: Loans principal, interest and financing service fee receivables are charged down to net realizable value (fair value of collaterals, less estimated costs to sell) when the Group has determined the remaining balance is uncollectable after exhausting all collection efforts. In order to comply with ASC 310 and ASC 326, 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; (iii) sales of loans to third parties; (iv) settlement with the borrower, where the Group releases irrecoverable loans through private negotiations with the borrower where the borrower cannot repay the loan in full through self-funding or voluntary sale of the collateral; (v) disposal through legal proceedings, including but not limited to online arbitrations, judicial auctions and court enforcements; or (vi) loans are 180 days past due unless both well-secured and in the process of collection. The change in the charge-off policies as a result of the correction of an error had no impact on the Group’s provision for credit losses and an immaterial impact on the Group’s 2018 and 2019 audited consolidated financial statements as the balance of loans under scenario (iii), (iv), (v) and (vi) was offset by the allowance for credit losses before charge-offs and only resulted in a net off of the loans principal, interest and financing service fee receivables and the corresponding allowance balance. Allowance for credit losses Allowance for credit losses represents management’s best estimate of probable losses inherent in the portfolio. Commencing January 1, 2020, CNFinance adopted ASC 326, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”, which replaced the incurred loss methodology for determining the provision for credit losses and allowance for credit losses (“ACL”) with an expected loss methodology that is referred to as the current expected credit loss (“CECL”) model. ASC 326 defines the ACL as a valuation account that is deducted from the amortized cost of a financial asset to present the net amount that management expects to collect on the financial asset over its expected life. All financial assets carried at amortized cost are in the scope of ASC 326, while assets measured at fair value are excluded. The allowance for credit losses is adjusted each period for changes in expected lifetime credit losses. The allowance for credit losses includes an asset-specific component and a statistically based component. The Company aggregates loans sharing similar risk characteristics into pools for purposes of measuring expected credit losses. Pools are reassessed periodically to confirm that all loans within each pool continue to share similar risk characteristics. Expected credit losses for loans that do not share similar risk characteristics with other financial assets are measured individually. Estimation of CECLs requires CNFinance to make assumptions regarding the likelihood and severity of credit loss events and their impact on expected cash flows, which drive the probability of default (PD), loss given default (LGD) and exposure at default (EAD) models. In its loss forecasting framework, ECL is determined primarily by utilizing models for the borrowers’ PD, LGD and EAD and the Company incorporates forward-looking information through the use of macroeconomic scenarios applied over the forecasted life of the assets. These macroeconomic scenarios include variables that have historically been key drivers of increases and decreases in credit losses. These variables include, but are not limited to, gross-domestic product rates, interest rates and consumer price indexes. The ACL for financial assets held at amortized cost is a valuation account that is deducted from, or added to, the amortized cost basis of the financial assets to present the net amount expected to be collected. When credit expectations change, the valuation account is adjusted with changes reported in provision for credit losses. If amounts previously charged off are subsequently expected to be collected, the Group may recognize a negative allowance, which is limited to the amount that was previously charged off. 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. A financial asset is collateral-dependent when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the sale or operation of the collateral. When a collateral-dependent financial asset is probable of foreclosure, the Group will measure the ACL based on the fair value of the collateral and we will measure the ACL based on the collateral’s net realizable value (fair value of collateral, less estimated costs to sell). Under the collaboration model, when the Group grants a loan through a trust plan, the loan is with the borrower and guarantee is entered into with a separate counterparty (the sales partner). As such, under the definition of ASC 326-20-20, the guarantee arrangement and lending arrangement would be considered freestanding arrangements. As sale partners will provide guarantee of the entire loan to the Group, collection for loss is probable and estimable when a loss on an insured loan is incurred and recognized. In this case, the Group will recognize guarantee loss recoverable asset in the amount that the Group determines is probable to receive from the guarantor with an offsetting entry to “provision for credit losses” when the Group concludes that the loss recovery is collectible. However, potential recovery that exceeds the recognized loss, if any, (gain contingency) will not be recognized until cash is received. Therefore, the amounts estimated to be recoverable from the proceeds of guarantees will be reported as a separate asset (guarantee asset) in the balance sheet. The increase in guaranteed recoverable assets are included in the income statement as a reduction of the “provision for credit losses”, separate disclosure of the increase in guaranteed recoverable assets will be included in the rollforward of the “allowance for credit losses”. The income statement caption will be modified as “Provision for credit losses, net of increase in increase in guaranteed recoverable assets. 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 adjustments to the basis of the loan and therefore are included in the periodic determination of the lower of cost or fair value adjustments. The loan is derecognized if the Company does not retain any risk and rewards after transferring the loan. Such transfer would be recorded as sales according to ASC 860-10-40-5. At the time of derecognition, any related loan loss allowance is released. Gains and losses on loans transfer as a sale are recognized in the noninterest income. (f) Cash, cash equivalents and restricted cash 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 Group considers highly liquid investments that are readily convertible to known amounts of cash. Restricted cash are cash and cash equivalents that are not readily available for normal disbursement and mainly represents cash and cash equivalents from structured funds. Such restricted cash is not available to fund the general liquidity needs of the Group and could only be used to grant new loans and activities as mentioned in Note 1. (g) Investment securities The Group classifies wealth management products and asset management products as investment securities. Investment securities are recorded at fair value and included in the profit and loss of changes in fair value. Realized gains and losses from the sale of investment securities 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, 2019 and 2020 and determined that it is more likely than not that the carrying value was less than the fair value. 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. (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 value 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 using a front-loading approach for an award with only service conditions that have a graded vesting schedule 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 lease liability is measured at the present value of future operating lease payments, discounted using the incremental borrowing rate. Right of use asset is measured at the amount of lease liabilities plus prepaid rent and direct costs, less any lease incentives. The operating lease expense is recognized on a straight-line basis over the lease term. Certain of the operating lease agreements contain rent holidays, which are considered in determining the straight-line operating lease 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 3 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, 2019 and 2020, the weighted average number of shares used in the calculation has been retroactively adjusted to reflect the incorporation of the Group 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 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 increase to the allowance for credit losses of RMB23,827,169, or 1.61 percent, an increase to the deferred tax assets of RMB5,956,792, and a decrease to retained earnings of RMB17,870,377 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 v

Fair Value Measurements

Fair Value Measurements	12 Months Ended
Fair Value Measurements	Dec. 31, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	3. 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. Assets recorded at fair value on a recurring basis mainly include marketable securities. Additionally, from time to time, the Group records fair value adjustments on a nonrecurring basis. These nonrecurring adjustments typically involve application of LOCOM accounting, write-downs of individual assets or application of the measurement alternative for nonmarketable equity securities. Fair Value Measurements A description of the valuation techniques applied to the Group’s major categories of assets and liabilities measured at fair value is 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 assets and liabilities within Level 1 of the valuation hierarchy. If quoted market prices are not available, fair value is 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. The following table presents the Group’s fair value hierarchy for those assets measured at fair value on a recurring basis as of December 31, 2019 and 2020. December 31, 2020 Fair value Level 1 Level 2 Level 3 RMB RMB RMB RMB Asset management products 20,028,205 - 20,028,205 - Wealth management products 398,108,568 397,107,417 1,001,151 - Total 418,136,773 397,107,417 21,029,356 - 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 - Total 654,328,054 - 654,328,054 - The following table presents the Group’s fair value hierarchy for those assets measured at fair value on a non-recurring basis as of December 31, 2019 and 2020. December 31, 2020 Fair value Level 1 Level 2 Level 3 RMB RMB RMB RMB Loans (1) 656,490,484 - 656,490,484 - Loans held-for-sale (2) 76,013,067 - 76,013,067 - Equity securities (3) 34,010,000 - 34,010,000 - Total 766,513,551 - 766,513,551 - December 31, 2019 Fair value Level 1 Level 2 Level 3 RMB RMB RMB RMB Loans (1) - - - - Loans held-for-sale (2) 66,698,869 - 66,698,869 - Equity securities (3) 34,010,000 - 34,010,000 - Total 100,708,869 - 100,708,869 - (1) The Group records nonrecurring fair value adjustments to reflect partial write-downs that are based on the observable market price of the loan or current appraised value of the collateral. (2) Loans held for sale are held at LOCOM (the lower of cost or fair value) which may be written down to fair value on a nonrecurring basis. (3) Nonmarketable equity securities are accounted for using the measurement alternative and can be subject to nonrecurring fair value adjustments to record impairment. During the years ended December 31, 2019 and 2020, there were no transfers between instruments in Level 1 and Level 2. The Group does not have level 3 instruments as of December 31, 2019 or 2020.

Cash, Cash Equivalents and Rest

Cash, Cash Equivalents and Restricted Cash	12 Months Ended
Cash, Cash Equivalents and Restricted Cash	Dec. 31, 2020
Cash and Cash Equivalents [Abstract]
CASH, CASH EQUIVALENTS AND RESTRICTED CASH	4. CASH, CASH EQUIVALENTS AND RESTRICTED CASH 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, 2019 and 2020, the Group both had cash balances at three PRC individual financial institutions, that held cash balances in excess of 10% of the Group’s total cash balances. These bank deposits collectively accounted for 84% and 83% of the Group’s total cash balances as of December 31, 2019 and 2020, respectively. The nominal holders of certain bank accounts of the Group are employees of the Group. The Group has entered into 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 1.09% and 0.9% of the Group’s total cash balances as of December 31, 2019 and 2020, respectively. Restricted cash represents cash and cash equivalents from structured funds, which are established by the institutional trust companies through segregated bank accounts, including structured funds that are partially funded by the Group’s own capital. Restricted cash amounted to RMB1,073,209,525 and RMB1,034,933,331 as of December 31, 2019 and 2020 respectively, which can only be used to grant loans and is not available to fund the general liquidity needs of the Group.

Loans Principal, Interest and F

Loans Principal, Interest and Financing Service Fee Receivables	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
LOANS PRINCIPAL, INTEREST AND FINANCING SERVICE FEE RECEIVABLES	5. LOANS PRINCIPAL, INTEREST AND FINANCING SERVICE FEE RECEIVABLES December 31, Note 2019 2020 First lien Second lien Subtotal First lien Second lien Subtotal RMB RMB RMB RMB RMB RMB Loans principal, interest and financing service fee receivables 4,693,549,335 6,672,547,951 11,366,097,286 4,199,477,434 5,489,463,590 9,688,941,024 Less: allowance for credit losses (a) - Individually assessed (230,019,493 ) (440,261,819 ) (670,281,312 ) (44,485,858 ) (71,845,690 ) (116,331,548 ) - Collectively assessed (180,847,951 ) (256,949,166 ) (437,797,117 ) (225,683,727 ) (317,464,175 ) (543,147,902 ) Subtotal (410,867,444 ) (697,210,985 ) (1,108,078,429 ) (270,169,585 ) (389,309,865 ) (659,479,450 ) Net loans principal, interest and financing service fee receivables 4,282,681,891 5,975,336,966 10,258,018,857 3,929,307,849 5,100,153,725 9,029,461,574 (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, 2020 and 2019. 2020 Allowance for loans which are collectively assessed Allowance for loans which are individually assessed Total RMB RMB RMB RMB RMB RMB RMB First lien Second lien Subtotal First lien Second lien Subtotal As of January 1 180,847,951 256,949,166 437,797,117 230,019,493 440,261,819 670,281,312 1,108,078,429 Change in accounting principle (1) 4,910,017 18,917,152 23,827,169 - - - 23,827,169 beginning of year, adjusted 185,757,968 275,866,318 461,624,286 230,019,493 440,261,819 670,281,312 1,131,905,598 Provision for credit losses (58,152,840 ) (98,518,264 ) (156,671,104 ) 185,684,445 248,573,082 434,257,527 277,586,423 Charge-offs (21,325,086 ) (26,625,575 ) (47,950,661 ) (437,681,450 ) (697,756,733 ) (1,135,438,183 ) (1,183,388,844 ) Increase in guaranteed recoverable assets 119,403,685 166,741,696 286,145,381 66,463,370 80,767,522 147,230,892 433,376,273 Recoveries - - - - - - - As of December 31 225,683,727 317,464,175 543,147,902 44,485,858 71,845,690 116,331,548 659,479,450 Net loans principal, interest and financing service fee receivables 3,401,656,667 4,615,579,507 8,017,236,174 527,651,182 484,574,218 1,012,225,400 9,029,461,574 Recorded investment 3,627,340,394 4,933,043,682 8,560,384,076 572,137,040 556,419,908 1,128,556,948 9,688,941,024 2019 Allowance for loans which are collectively assessed Allowance for loans which are individually assessed Total RMB RMB RMB RMB RMB RMB RMB First lien Second lien Subtotal First lien Second lien Subtotal As of January 1 335,927,729 369,953,498 705,881,227 74,032,660 83,124,717 157,157,377 863,038,604 Provision for credit losses (108,565,060 ) (84,825,781 ) (193,390,841 ) 175,002,453 381,123,547 556,126,000 362,735,159 Charge-offs (2) (89,021,115 ) (85,976,409 ) (174,997,524 ) (19,015,620 ) (23,986,445 ) (43,002,065 ) (217,999,589 ) Increase in guaranteed recoverable assets 42,506,397 57,797,858 100,304,255 - - - 100,304,255 Recoveries - - - - - - - As of December 31 180,847,951 256,949,166 437,797,117 230,019,493 440,261,819 670,281,312 1,108,078,429 Net loans principal, interest and financing service fee receivables 3,839,504,668 5,539,903,945 9,379,408,613 443,177,223 435,433,021 878,610,244 10,258,018,857 Recorded investment 4,020,352,619 5,796,853,111 9,817,205,730 673,196,716 875,694,840 1,548,891,556 11,366,097,286 (1) Effective January 1, 2020, the Group adopted accounting guidance which changed impairment recognition of financial instruments to a model that is based on expected losses rather than incurred losses. (2) In 2020, the Group revised its charge-off policy so that charge down loans that are 180 days past due to net realizable value (fair value of collaterals, less estimated costs to sell) unless both well-secured and in the process of collection The change in the charge-off policies as a result of the correction of an error had no impact on the Group’s provision for credit losses and an immaterial impact on the Group’s 2018 and 2019 audited consolidated financial statements. The Group charges off loans principal, interest and financing service fee receivables if the remaining balance is considered uncollectable. 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. The following tables present the aging of allowance for credit losses as of December 31,2020. Total current 1–30 days 31–89 days 91–179 days 180–269 days 270–359 days >360 days Total loans RMB RMB RMB RMB RMB RMB RMB RMB The collaboration model First lien 129,497,272 27,587,381 19,589,462 36,527,048 - - - 213,201,163 Second lien 188,724,825 39,093,005 22,486,268 53,516,823 - - - 303,820,921 Subtotal 318,222,097 66,680,386 42,075,730 90,043,871 - - - 517,022,084 The traditional facilitation model First lien 38,134,959 7,913,700 2,960,953 7,958,810 - - - 56,968,422 Second lien 49,851,330 11,634,453 5,674,294 18,328,867 - - - 85,488,944 Subtotal 87,986,289 19,548,153 8,635,247 26,287,677 - - - 142,457,366 Allowance for credit losses 406,208,386 86,228,539 50,710,977 116,331,548 - - - 659,479,450 The following tables present the aging of allowance for credit losses as of December 31,2019. Total current 1–30 days 31–89 days 91–179 days 180–269 days 270–359 days >360 days Total loans RMB RMB RMB RMB RMB RMB RMB RMB The collaboration model First lien 35,030,588 13,536,804 6,896,798 3,772,847 475,551 - - 59,712,588 Second lien 47,734,772 17,541,405 10,273,023 3,507,044 7,076,767 - - 86,133,011 Subtotal 82,765,360 31,078,209 17,169,821 7,279,891 7,552,318 - - 145,845,599 The traditional facilitation model First lien 29,728,615 41,608,151 54,046,995 43,039,816 54,399,151 71,665,979 56,666,149 351,154,856 Second lien 45,899,908 59,707,755 75,792,303 73,701,122 108,281,424 142,349,972 105,345,490 611,077,974 Subtotal 75,628,523 101,315,906 129,839,298 116,740,938 162,680,575 214,015,951 162,011,639 962,232,830 Allowance for credit losses 158,393,883 132,394,115 147,009,119 124,020,829 170,232,893 214,015,951 162,011,639 1,108,078,429 (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, 2020. Total current 1–30 days 31–89 days 91–179 days 180–269 days 270–359 days >360 days Total loans Total non-accrual RMB RMB RMB RMB RMB RMB RMB RMB RMB The collaboration model First lien 2,684,453,719 221,752,977 149,903,725 98,060,135 38,612,291 41,915,011 41,301,764 3,275,999,622 219,889,201 Second lien 3,674,976,053 313,210,401 170,889,729 115,930,426 35,482,816 27,816,721 20,635,455 4,358,941,601 199,865,418 Subtotal 6,359,429,772 534,963,378 320,793,454 213,990,561 74,095,107 69,731,732 61,937,219 7,634,941,223 419,754,619 The traditional facilitation model First lien 488,499,217 61,067,711 21,663,045 37,401,946 38,952,002 44,395,487 231,498,405 923,477,813 352,247,840 Second lien 641,379,934 91,200,722 41,386,843 47,930,588 45,427,025 44,423,820 218,773,056 1,130,521,988 356,554,489 Subtotal 1,129,879,151 152,268,433 63,049,888 85,332,534 84,379,027 88,819,307 450,271,461 2,053,999,801 708,802,329 Loans principal, interest and financing service fee receivables 7,489,308,923 687,231,811 383,843,342 299,323,095 158,474,134 158,551,039 512,208,680 9,688,941,024 1,128,556,948 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 31–89 days 91–179 days 180–269 days 270–359 days >360 days Total loans Total RMB RMB RMB RMB RMB RMB RMB RMB RMB The collaboration model First lien 1,998,813,257 62,545,907 25,513,691 8,692,517 1,151,088 - - 2,096,716,460 9,843,605 Second lien 2,718,738,017 80,877,056 37,566,648 7,457,194 8,941,652 - - 2,853,580,567 16,398,846 Subtotal 4,717,551,274 143,422,963 63,080,339 16,149,711 10,092,740 - - 4,950,297,027 26,242,451 The traditional facilitation model First lien 1,643,032,283 185,790,306 68,891,503 147,557,351 173,920,965 218,336,735 159,303,732 2,596,832,875 699,118,783 Second lien 2,535,294,261 267,456,186 108,695,215 177,513,619 244,116,975 288,764,892 197,126,236 3,818,967,384 907,521,722 Subtotal 4,178,326,544 453,246,492 177,586,718 325,070,970 418,037,940 507,101,627 356,429,968 6,415,800,259 1,606,640,505 Loans principal, interest and financing service fee receivables 8,895,877,818 596,669,455 240,667,057 341,220,681 428,130,680 507,101,627 356,429,968 11,366,097,286 1,632,882,956 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 Impaired Impaired Impaired Related RMB RMB RMB RMB RMB First lien 564,172,105 572,137,041 109,090,294 463,046,747 44,485,858 Second lien 562,839,906 556,419,907 132,824,814 423,595,093 71,845,690 As of December 31,2020 1,127,012,011 1,128,556,948 241,915,108 886,641,840 116,331,548 First lien 714,820,883 708,962,388 606,955,948 102,006,440 230,019,493 Second lien 937,961,325 923,920,568 771,834,730 152,085,838 440,261,819 As of December 31,2019 1,652,782,208 1,632,882,956 1,378,790,678 254,092,278 670,281,312 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 Year ended December 31, 2019 2020 Average (i) Interest and (ii) Average (i) Interest and (ii) RMB RMB RMB RMB First lien 633,643,411 42,367,639 575,787,304 37,935,099 Second lien 745,893,152 39,326,404 598,022,585 58,090,531 Impaired loans 1,379,536,563 81,694,043 1,173,809,889 96,025,630 (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 fees 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 2019 and 2020. The Group transferred loans with carrying amounts of RMB497,001,089 and RMB1,004,069,874 to third party investors and recorded the transfers as sales for the years ended December 31, 2019, and 2020 respectively. The Group recognized net gain of RMB75,959,140 and RMB149,631,456 from transfers accounted for as sales of loans for the years ended December 31, 2019 and 2020, respectively. 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 determined with an expected loss methodology that is referred to as the current expected credit loss (“CECL”) model. 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 RMB370,700,724 (including RMB66,698,869 measured at fair value) and RMB586,206,781 (including RMB76,013,067 measured at fair value) as of December 31,2019 and 2020 respectively.

Investment Securities

Investment Securities	12 Months Ended
Investment Securities	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
INVESTMENT SECURITIES	6. INVESTMENT SECURITIES The carrying amount and fair value of the investment securities by major security type and class of security at December 31, 2020 and 2019 was as follows: Aggregate cost basis Profits and losses from fair value changes Aggregate fair value RMB RMB RMB As of December 31, 2020: Asset management products 20,000,000 28,205 20,028,205 Wealth management products 398,080,000 28,568 398,108,568 Total 418,080,000 56,773 418,136,773 Aggregate cost basis Gross unrealized holding gains Aggregate fair value 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 The investments in asset management products 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 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 value 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, 2020
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	7. PROPERTY AND EQUIPMENT December 31, 2019 2020 RMB RMB Office and other equipment 22,151,112 19,288,892 Leasehold improvements 21,636,662 17,858,447 Motor vehicles 1,580,101 1,950,081 Less: accumulated depreciation (36,171,900 ) (34,381,272 ) Total 9,195,975 4,716,148 Total depreciation expense for the years ended December 31, 2019 and 2020 was RMB10,382,987 and RMB5,059,824, respectively, which were recorded in other expenses in each year.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	12 Months Ended
Intangible Assets and Goodwill	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS AND GOODWILL	8. INTANGIBLE ASSETS AND GOODWILL December 31, Note 2019 2020 RMB RMB Intangible assets (a) 3,738,338 3,230,126 (a) Intangible assets December 31, 2019 December 31, 2020 Gross carrying Accumulated Net carrying Gross carrying Accumulated Net carrying value amortization value value amortization value RMB RMB RMB RMB RMB RMB Amortized intangible assets: Software 8,790,903 (8,022,565 ) 768,338 9,270,094 (9,009,968 ) 260,126 Cooperation agreement 5,030,000 (5,030,000 ) - 5,030,000 (5,030,000 ) - Total amortized intangible assets 13,820,903 (13,052,565 ) 768,338 14,300,094 (14,039,968 ) 260,126 Unamortized intangible assets: Trademarks 2,970,000 2,970,000 As of December 31, 2019 and 2020, accumulated amortization was RMB13,052,565 and RMB14,039,968 respectively. 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, 2020. Future amortization expense may vary from these projections. Software RMB Year ended December 31, 2020 (actual) 987,402 Estimate for year ended December 31, 2021 237,098 2022 13,763 2023 516 2024 - 2025 -

Deposits

Deposits	12 Months Ended
Deposits	Dec. 31, 2020
Deposits Assets Disclosures [Abstract]
DEPOSITS	9. 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, 2020
Disclosure Text Block Supplement [Abstract]
OTHER ASSETS	10. OTHER ASSETS Note December 31, 2019 2020 RMB RMB Guaranteed assets (i) 100,304,255 533,680,528 Non-marketable equity securities (ii) 34,010,000 34,010,000 Receivable from sale of loans (iii) 46,312,256 17,241,092 Amounts due from employees (iv) 10,026,151 5,352,718 Prepayments 6,850,294 2,403,478 Receivables for realization of collaterals 5,205,818 2,821,944 Other receivables 4,814,242 12,175,217 Total 207,523,016 607,684,977 (i) As described in Note 12, sales partners submit 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 increase in guaranteed recoverable assets guaranteed by the CRMPs is probable and estimable. If the increase in guaranteed recoverable assets is probable and estimable, the amount guaranteed by the CRMPs is recognized as guaranteed assets. (ii) 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, 2019 and 2020, 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, 2019 and 2020, the Group invested 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 RMB24,010,000 in Qingyuan Rural. The measurement alternative is selected for the above non-marketable equity securities. Under the measurement alternative, the equity securities without readily determinable fair value are measured at cost minus impairment and adjusted for changes in observable prices. No change in observable price has been identified and no impairment has recorded for the two years of 2019 and 2020. (iii) As mentioned in Note 5, 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. (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, 2020
Debt Disclosure [Abstract]
INTEREST-BEARING BORROWINGS	11. 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. Note Fixed interest rate Term December 31, 2019 2020 RMB RMB Repurchase agreements Funds obtained from Private investment funds 15% to 16 % Less than 1 year 275,930,000 - Financial institution (i) 8% to 13.2 % Within 4 years 589,103,161 507,620,299 Interest payable Financial institution (i) 5,745,054 956,583 Total repurchase agreements 870,778,215 508,576,882 (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, 2020, the amount of funds obtained from Xiamen Asset and the interest payable are RMB77,474,002 and RMB603,354, 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, 2020, the amount of funds obtained from Blue Ocean and the interest payable are nil. 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, 2020, the amount of funds obtained from Haide Asset and the interest payable are RMB3,413,812 and RMB52,684, 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, 2020, the amount of funds obtained from Suzhou Asset and the interest payable are RMB17,068,259 and RMB169,747, 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, 2020, the amount of funds obtained from Yueke Asset and the interest payable are RMB9,664,226 and RMB130,798, respectively. On May 7, 2020, the Group transferred the right to earnings in Jinghua Structured Fund 5 with carrying amount of RMB500,000,000 to Shenzhen Ruifeng Baoying Asset Management Co., Ltd. (“Ruifeng Baoying”), an unrelated third party, with a 8% per annum rate of return. However, in accordance with ASC 860, Transfers and Servicing, the right to earnings is not derecognized upon transfer as the Group is required to repurchase the right to earnings one year after the date of transfer. As of December 31, 2020, the amount of funds obtained from Ruifeng Baoying and the interest payable are RMB400,000,000 and nil, 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 11(c). December 31, 2019 2020 Underlying collateral types of gross obligations RMB RMB Repurchase agreements: Rights to earnings in the Group’s subordinated tranches of consolidated VIEs 275,930,000 400,000,000 Loans principal, interest and financing service fee receivables 594,848,215 108,576,882 Total repurchase agreements 870,778,215 508,576,882 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 Total gross RMB RMB RMB RMB RMB Repurchase agreements As of December 31,2020 - 37,871,851 111,761,847 358,943,184 508,576,882 As of December 31,2019 - 684,791,408 115,136,807 70,850,000 870,778,215 (b) Other borrowings Other borrowings Note Fixed interest rate per annum Term December 31, 2019 2020 Short-term: RMB RMB Investors of consolidated VIEs (i) 7% to 12.7 % Less than 1 year 4,505,914,751 3,491,862,448 Senior tranche of trust plan which invests in the Group’s loans portfolio (ii) 10.24 % Within 1 year 37,547,527 9,343,996 Long-term: Investors of consolidated VIEs (i) 7.2% to 12.1 % Within 5 years 2,056,035,701 2,088,565,691 Interest payable to Investors of consolidated VIEs (i) 52,640,336 59,897,208 Total 6,652,138,315 5,649,669,343 (i) The financial liabilities arising from the VIEs with underlying investments in loans to customers are classified as payable 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. As of December 31, 2020, the borrowings from VIEs have principal RMB5,580,428,139, bearing interests from 7% to 12.7% per year. (ii) As of December 31, 2020, the borrowings from senior tranche of trust plan which invested in the Group’s loans portfolio are the capitals from senior tranche holders of No.1 Wukuang Trust Yangguang Fanhua Plan with principal RMB9,343,996 million, bearing interests at 10.24% per year. Aggregate annual maturities of long-term borrowing obligations (based on final maturity dates) are as follows: December 31,2020 2021 2022 2023 2024 2025 Thereafter Total RMB RMB RMB RMB RMB RMB RMB Investors of consolidated VIEs - 1,081,671,701 463,887,721 34,745,191 508,261,078 - 2,088,565,691 (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, 2019 2020 RMB RMB Rights to earnings in the Group’s subordinated tranches of consolidated VIEs 1,369,872,606 312,080,250 Rights to earnings in loans principal, interest and financing service fee receivables 92,628,340 32,578,951 Loans principal, interest and financing service fee receivables 712,710,327 292,555,126 Total 2,175,211,273 637,214,327 Amounts presented above include carrying value of RMB2,082,582,932 and RMB604,635,376 in collateral for repurchase agreements as of December 31, 2019 and 2020, respectively.

Credit Risk Mitigation Position

Credit Risk Mitigation Position	12 Months Ended
Credit Risk Mitigation Position	Dec. 31, 2020
Risks and Uncertainties [Abstract]
CREDIT RISK MITIGATION POSITION	12. CREDIT RISK MITIGATION POSITION December 31, 2019 2020 RMB RMB Balance at the beginning of the year - 928,702,101 Increase during the year 1,288,929,674 1,431,323,388 Decrease during the year (352,306,712 ) (1,136,849,732 ) Confiscation during the year (7,920,861 ) (13,446,619 ) Balance at the end of the year 928,702,101 1,209,729,138 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, 2020
Other Liabilities Disclosure [Abstract]
OTHER LIABILITIES	13. OTHER LIABILITIES Note December 31, 2019 2020 RMB RMB Guarantee repayments from sales partner (i) - 126,903,531 Receipt in advance (ii) 118,109,316 121,160,268 Settlement and clearing accounts (iii) 49,175,523 94,287,235 Other tax payables (iv) 86,798,908 74,757,159 Customer pledged deposits (v) 60,233,291 47,588,065 Collaboration cost payable (vi) 29,191,882 34,713,800 Amounts due to third parties 10,768,698 10,545,062 Accrued expenses (vii) 45,156,653 8,406,812 Others (viii) 5,034,932 5,335,193 Total 404,469,203 523,697,125 (i) Under the collaboration model, sales partners are required to provide a certain level of guarantee of repayment for loans recommended. Guarantee repayments from sales partner mainly consist of repayments collected from sales partners who exercise the guarantee, and those repayments will be returned to trust company. (ii) Receipt in advance consists 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 for the traditional facilitation model amounted to RMB102,491,426 and RMB 118,078,758 as of December 31, 2019 and 2020. (iii) The Group transferred loans to third party investors and recorded these transactions as sales in Note 5(c). After the transfer, the contract terms related to payment proceeds from the loans remain the same: The Group collects payments of loans and then disburses the proceeds from the relevant loans to third-party transferees. (iv) Other tax payables mainly represent value-added tax and surcharges payables. (v) Customer pledged deposits mainly consist of the deposits collected from certain customers to reduce the risk of failure to make payments on schedule. (vi) As mentioned in Note 19, the Group will pay collaboration cost to the sales partners who introduce prospective borrowers to the Group. collaboration cost for sales partners is a fixed percentage of the loan principal amount and is calculated by subtracting the project cost from interest and fees income received from borrowers. (vii) Accrued expenses mainly consist of promotional costs relating to building the collaboration model and expenses payable to consultants such as the auditor and lawyer. (viii) 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, 2020
Stockholders' Equity Note [Abstract]
ORDINARY SHARES	14. 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, 2020
Additional Paid In Capital Disclosure [Abstract]
ADDITIONAL PAID-IN CAPITAL	15. 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, 2020
Retained Earnings Disclosure [Abstract]
RETAINED EARNINGS	16. RETAINED EARNINGS Note December 31, 2019 2020 RMB RMB PRC statutory reserves (i) 258,654,052 258,654,052 PRC surplus reserves (ii) 147,125,493 161,631,825 Unreserved retained earnings 2,256,366,104 2,338,841,922 Total 2,662,145,649 2,759,127,799 (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 Losses	12 Months Ended
Accumulated Other Comprehensive Losses	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSSES	17. ACCUMULATED OTHER COMPREHENSIVE LOSSES Foreign Unrealized gain on investment securities currency Before tax Income Tax (expense) or benefit Net-of-tax 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, 2020 (2,290,452 ) 228,053 (57,013 ) 171,040 Other comprehensive loss, net (16,166,094 ) (228,053 ) 57,013 (171,040 ) Balance as of December 31, 2020 (18,456,546 ) - - - The amounts reclassified out of accumulated other comprehensive income represent realized gains on the investment securities 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 Fees on Loans	12 Months Ended
Interest and Financing Service Fees on Loans	Dec. 31, 2020
Interest And Financing Service Fee On Loans [Abstract]
INTEREST AND FINANCING SERVICE FEES ON LOANS	18. INTEREST AND FINANCING SERVICE FEES 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 RMB4,150,727,434, RMB 2,906,171,249 and RMB 1,812,996,763 for the year ended December 31,2018, 2019 and 2020, 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 fees on loans were RMB128,092,934, RMB47,309,748 and RMB15,691,147 for the year ended December 31, 2018, 2019 and 2020, respectively. Interest and fees income and costs from traditional facilitation model and new collaboration model for the year ended December 31, 2020 are listed as below: Year ended December 31, 2020 traditional facilitation model Collaboration model Total RMB RMB RMB Interest and financing service fees on loans 695,645,512 1,133,042,398 1,828,687,910 Interests on deposits with banks 3,877,845 12,256,073 16,133,918 Interest expense on interest-bearing borrowings (256,597,312 ) (474,718,053 ) (731,315,365 ) Net interest and fees income 442,926,045 670,580,418 1,113,506,463 Collaboration cost for sales partners - (415,104,428 ) (415,104,428 ) Net interest and fees income after collaboration cost 442,926,045 255,475,990 698,402,035 Provision for credit losses (130,589,189 ) (146,997,234 ) (277,586,423 ) Net interest and fees income after provision for credit losses 312,336,856 108,478,756 420,815,612

Collaboration Cost for Sales Pa

Collaboration Cost for Sales Partners	12 Months Ended
Collaboration Cost for Sales Partners	Dec. 31, 2020
Collaboration Cost For Sales Partners [Abstract]
COLLABORATION COST FOR SALES PARTNERS	19. COLLABORATION COST FOR SALES PARTNERS The Group started to develop a new collaboration model in December 2018. Under such model, the Group collaborates with sales partners who are dedicated to introduce CNFinance and its loan services to prospective borrowers. The unique feature of this collaboration model is that the sales partners will be required to deposit an amount equal to 10%-25% of the loans issued to the borrowers introduced by them. In return, the Group will pay collaboration cost as sales incentives to the sales partners.

Realized Gains on Sales of Inve

Realized Gains on Sales of Investments, Net	12 Months Ended
Realized Gains on Sales of Investments, Net	Dec. 31, 2020
Realized Gains Losses On Sales Of Investments Net [Abstract]
REALIZED GAINS ON SALES OF INVESTMENTS, NET	20. REALIZED GAINS ON SALES OF INVESTMENTS, NET The gross realized gains on sales of investments are RMB3,185,026, RMB46,126,258 and RMB20,153,659 for the years ended December 31, 2018, 2019 and 2020, respectively.

Net (Losses)_Gains on Sales of

Net (Losses)/Gains on Sales of Loans	12 Months Ended
Net (Losses)/Gains on Sales of Loans	Dec. 31, 2020
Netlossesgains On Sales Of Loans [Abstract]
NET (LOSSES)/GAINS ON SALES OF LOANS	21. NET (LOSSES)/GAINS ON SALES OF LOANS As mentioned in Note 5(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 net losses of RMB16,697,259, net gains of RMB75,959,140 and RMB149,631,456 for the years ended December 31, 2018, 2019 and 2020, respectively.

Other Gains, Net

Other Gains, Net	12 Months Ended
Other Gains, Net	Dec. 31, 2020
Other Revenue Disclosure [Abstract]
OTHER GAINS, NET	22. OTHER GAINS, NET Year ended December 31, Note 2018 2019 2020 RMB RMB RMB Net gains on confiscated credit risk mitigation positions (i) - 7,920,861 13,446,619 Mortgage agency service revenue (ii) 4,466,608 679,933 511,500 Foreign exchange gains/(losses) (iii) 1,836,029 647,316 (5,345,004 ) Net loss on disposal of property and equipment (946,244 ) (3,049,896 ) (2,868 ) Profits and losses from fair value changes - - 56,773 Others (3,242,074 ) 177,134 11,095,033 Total 2,114,319 6,375,348 19,762,053 (i) 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, otherwise the CRMPs deposited by sales partners are confiscated by the Group. Net gains on confiscated CRMPs increased to RMB13,446,619 in 2020. (ii) 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. (iii) The changes of foreign exchange gain/(loss) are mainly due to exchange rate changes in cash and cash equivalents held by the group, including US dollar account and Hong Kong dollar account. The company recorded a foreign exchange (loss) as RMB5,345,004 in 2020, a decrease of RMB5,992,320 compared with that in 2019. The loss is mainly due to the decrease of the exchange rate between Hong Kong dollar and RMB and the US dollar against RMB.

Other Expenses

Other Expenses	12 Months Ended
Other Expenses	Dec. 31, 2020
Other Expenses [Abstract]
OTHER EXPENSES	23. OTHER EXPENSES Year ended December 31, 2018 2019 2020 RMB RMB RMB Advertising and promotion expenses 15,323,838 45,789,035 30,471,983 Litigation fees 22,467,468 25,305,057 24,764,412 Consulting fees 9,580,602 16,762,953 14,486,656 Research and development expenses 1,419,878 2,430,338 9,960,607 Office and commute expenses 14,425,608 21,835,262 9,120,261 Attorney fees 5,983,431 23,748,333 8,503,270 Entertainment and travelling expenses 14,237,820 10,905,234 7,010,704 Depreciation and amortization 13,299,246 10,917,300 6,047,226 Directors and officers liability insurance - 6,433,824 4,232,722 Communication expenses 2,549,164 2,874,165 2,495,071 Others 14,268,602 15,677,035 6,949,270 Total 113,555,657 182,678,536 124,042,182

Income Tax Expense

Income Tax Expense	12 Months Ended
Income Tax Expense	Dec. 31, 2020
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. Income tax expense, all of which relates to the PRC, consists of the following for the years ended December 31: Year ended December 31, 2018 2019 2020 RMB RMB RMB Current tax expense 401,913,951 182,459,389 142,238,819 Deferred tax (benefit)/expense (105,085,476 ) 3,908,847 (94,389,779 ) Total income tax expense 296,828,475 186,368,236 47,849,040 The principal components of the deferred tax assets and liabilities are as follows: Year ended December 31, 2019 2020 RMB RMB Deferred tax assets: Allowance for loans principal 254,945,409 299,532,574 Allowance for interest and financing fee receivables 22,654,969 22,733,700 Net operating loss carry-forwards 6,459,941 10,443,239 Lease liabilities 9,533,485 4,886,125 Other deferred tax assets 1,388,307 1,919,331 Total deferred tax assets 294,982,111 339,514,969 Valuation allowance (6,459,941 ) (10,443,239 ) Deferred tax assets, net of valuation allowance 288,522,170 329,071,730 Deferred tax liabilities: Intangible assets (742,500 ) (742,500 ) Investment securities (57,014 ) - Right-of-use assets (9,533,485 ) (4,867,131 ) Loans and other assets - (78,329,130 ) Undistributed earnings from structured funds (621,034,296 ) (565,903,639 ) Total deferred tax liabilities (631,367,295 ) (649,842,400 ) In 2020, the Group assessed and considered that RMB78,329,130 of the income taxes payable balance as of December 31, 2019 would be filed and settled on a future income tax return. Such amount was related to the intra-entity transfers of the loans and other assets. The Group has presented the tax effect of the intra-entity transfers of loans and other assets as deferred tax liabilities in 2020. Movement of valuation allowance: 2019 2020 RMB RMB At the beginning of year 5,743,768 6,459,941 Current year additions 2,843,639 5,420,745 Current year reversals (2,025,434 ) (1,374,712 ) Current year charge-offs (102,032 ) (62,735 ) At the end of year 6,459,941 10,443,239 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 a substantial majority of the Group’s deferred tax assets is supported by 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, net of valuation allowance, as of December 31, 2019 and 2020. Valuation allowances have been provided on deferred tax assets due to the uncertainty surrounding their realization. As of December 31, 2019 and 2020, the valuation allowance on deferred tax assets mainly arising from operating loss carry-forwards were provided because it was more likely than not that the Group will not be able to utilize the operating loss carry-forwards generated by certain unprofitable subsidiaries. The Group 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, 2020, the Group had net operating loss carryforwards of RMB41,772,957 from its subsidiaries registered in the PRC, which can be carried forward to offset future taxable income. The Group had deferred tax assets related to net operating loss carryforwards of RMB10,443,239. Net operating losses of RMB20,089,976 will expire in 2024, and in 2025, about RMB21,682,981 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 RMB5,236,867,776 as of December 31, 2020. 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 2020 because the Group did not make any distribution to foreign parent companies. The related unrecognized deferred tax liabilities were RMB523,686,778. The income before income tax expense is as follows: Year ended December 31, 2018 2019 2020 RMB RMB RMB Cayman Islands (5,671 ) (4,424,505 ) (2,847,746 ) BVI 161,953 45,003 (22,126 ) Hong Kong entities (77,026 ) 2,014,052 3,424,910 PRC entities 1,157,657,930 723,377,628 162,146,528 Total 1,157,737,186 721,012,178 162,701,566 The reconciliation of the PRC statutory income tax rate of 25% to the effective income tax rate is as follows: Year ended December 31, 2018 2019 2020 PRC statutory income tax rate 25.00 % 25.00 % 25.00 % (Decrease)/increase in effective income tax rate resulting from: Effect of tax-free income (0.03 )% (0.06 )% (8.02 )% Effect of non-deductible share option expense 0.86 % 0.55 % 9.54 % Effect of zero tax rate in foreign countries (0.00 )% 0.15 % 0.44 % Changes in valuation allowance (0.59 )% 0.11 % 2.49 % Others 0.42 % 0.09 % (0.04 )% Effective income tax rate 25.66 % 25.84 % 29.41 % 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, 2018, 2019 and 2020.

Earnings Per Share

Earnings Per Share	12 Months Ended
Earnings Per Share	Dec. 31, 2020
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, 2018, 2019 and 2020, for which the basic weighted average number of common shares are based on the 1,371,643,240, 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. Year ended December 31, 2018 2019 2020 RMB RMB RMB Net income 860,908,711 534,643,942 114,852,526 Basic weighted average number of common shares outstanding 1,251,608,224 1,371,643,240 1,371,643,240 Effect of dilutive share options 137,727,545 96,143,147 153,589,125 Dilutive weighted average number of ordinary shares 1,389,335,769 1,467,786,387 1,525,232,365 Basic earnings per share 0.69 0.39 0.08 Diluted earnings per share 0.62 0.36 0.08

Share-Based Compensation Expens

Share-Based Compensation Expenses	12 Months Ended
Share-Based Compensation Expenses	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION EXPENSES	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, 2018 Share Incentive Plan (the “2018 Option”) for granting shares award of CNFinance to certain management members and employees of the Group was issued to concurrently 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 were 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 is 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, Share awards granted on December 31, 2019 Expected volatility 40.00 % 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 Weighted exercise price Weighted 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 Weighted exercise price Weighted 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 Balance, December 31, 2019 119,674,780 - 0.72 Granted - - - Exercised - - - Surrendered - - - Balance, December 31, 2020 119,674,780 - 0.72 Exercisable, December 31, 2020 59,837,390 - 0.72 Expected to vest, December 31, 2020 59,837,390 - 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 Exercise Fair value Fair value of ordinary shares January 3, 2017 75,173,492 RMB 0.50 RMB 1.26 RMB 1.72 January 3, 2017 112,760,238 RMB 0.50 RMB 1.27 RMB 1.72 December 31, 2019 83,772,346 RMB 1.00 RMB 0.71 RMB 1.40 December 31, 2019 35,902,434 RMB 1.00 RMB 0.75 RMB 1.40 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. For the 2019 Option, the Group recognized compensation expenses of RMB62,073,367. There was no income tax benefit recognized associated with the share-based compensation expenses. As of December 31,2020, there is total unrecognized compensation cost of RMB24,540,633, which is expected to be recognized over a weighted average period of 1.24 years.

Material Related Party Transact

Material Related Party Transactions	12 Months Ended
Material Related Party Transactions	Dec. 31, 2020
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 Fanhua Inc. and its subsidiaries one of the owners beneficially owns 100% equity interests of CISG Holdings Limited 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, 2020.

Operating Leases

Operating Leases	12 Months Ended
Operating Leases	Dec. 31, 2020
Disclosure Text Block [Abstract]
OPERATING LEASES	28. OPERATING LEASES The Group leases multiple office spaces which are contracted under various non-cancelable operating leases, most of 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 determines 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, 2018 2019 2020 RMB RMB RMB Operating lease cost (1) 58,317,758 36,607,623 21,719,042 (1) Amounts include short-term leases that are immaterial. December 31, December 31, RMB RMB Weighted-average remaining lease term 2 Years 1.2 Years Weighted-average discount rate 4.75 % 4.73 % Cash paid for amounts included in the measurement of lease liabilities under operating cash flows 39,195,151 18,327,069 ROU assets obtained in exchange for new operating lease liabilities 38,133,941 19,468,523 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, 2020: Year Ended December 31, RMB 2021 14,245,045 2022 5,210,201 2023 700,106 2024 219,038 2025 - Thereafter - Total future operating lease payments 20,374,390 Less: imputed interest (829,891 ) Total present value of operating lease liabilities 19,544,499

Condensed Financial Information

Condensed Financial Information of the Parent Company	12 Months Ended
Condensed Financial Information of the Parent Company	Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract]
CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY	29. CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY The Group’s PRC VIEs and PRC subsidiaries are restricted in their ability to transfer a portion of their net assets to the Group. 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 Group’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 Group’s operations and revenues are conducted and generated in China, all of the Group’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 Group may be unable to distribute any dividends outside of China due to PRC foreign exchange control regulations that restrict the Group’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 Group’s PRC subsidiary and VIE exceed 25% of the consolidated net assets of the Group. 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 Group’s consolidated financial statements, except that the Group 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 Group, 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 Group. On January 8, 2014, the Group 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 Group. The shareholder as well as shareholder’s equity remained the same until the reorganization with Sincere Fame. Condensed balance sheets December 31, December 31, 2019 2020 RMB RMB Assets Cash and cash equivalents 7,192,877 3,315,160 Investments in subsidiaries 392,559,403 392,559,403 Other assets 316,693,899 296,210,723 Total assets 716,446,179 692,085,286 Liabilities and shareholders’ equity Accrued employee benefits 418,572 97,555 Other operating liabilities 10,988,499 10,508,460 Total liabilities 11,407,071 10,606,015 Ordinary shares (3,800,000,000 shares authorized; 1,371,643,240 shares with USD0.0001 as par value issued as of December 31, 2019 and December 31, 2020) 916,743 916,743 Additional paid-in capital 705,422,445 705,422,445 Retained earnings (4,430,177 ) (7,277,923 ) Accumulated other comprehensive income: 3,130,097 (17,581,994 ) Total shareholders’ equity 705,039,108 681,479,271 Total liabilities and shareholders’ equity 716,446,179 692,085,286 Condensed statements of comprehensive income 2019 2020 RMB RMB Interest and fees income Interest on deposits with banks 426,672 5,713 Total interest and fees income 426,672 5,713 Other revenue 3,353,216 - Total non-interest income 3,353,216 - Total Revenue 3,779,888 5,713 Operating expenses Employee compensation and benefits (660,018 ) (397,404 ) Other expenses (7,544,375 ) (2,456,055 ) Total operating expenses (8,204,393 ) (2,853,459 ) Income before income tax (4,424,505 ) (2,847,746 ) Income tax expense - - Net loss (4,424,505 ) (2,847,746 ) Other comprehensive income/(losses) Foreign currency translation adjustment 5,255,576 (20,712,092 ) Comprehensive income/(losses) 831,071 (23,559,838 ) Condensed statements of cash flows 2019 2020 RMB RMB Cash flows from operating activities: Net loss (4,424,505 ) (2,847,746 ) Other operating assets (316,693,899 ) 20,483,176 Other operating liabilities 3,248,087 (801,055 ) Net cash (used in)/provided by operating activities (317,870,317 ) 16,834,375 Net (decrease)/increase in cash and cash equivalents (317,870,317 ) 16,834,375 Cash and cash equivalents at the beginning of year 319,807,618 7,192,877 Effect of exchange rate change on cash and cash equivalents 5,255,576 (20,712,092 ) Cash and cash equivalents at the end of year 7,192,877 3,315,160

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2020
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, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	31. SUBSEQUENT EVENTS The Group has considered subsequent events through April 28, 2021, which was the date of these consolidated financial statements were issued, and has determined none of these events were required to be recognized or disclosed in the consolidated financial statements and related notes.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
Accounting Policies, by Policy (Policies)	Dec. 31, 2020
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, guarantee assets, the valuation allowance for deferred tax assets, unrecognized tax benefits, the indefinite reinvestment assertion, the fair value of investment securities and the fair value of share-based compensation.
Revenue recognition	(d) Revenue recognition Interest and financing service fees 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 is 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 fees on loans Interest and financing service fees on loans, which include financing service fees on loans, are collected from borrowers for loans and related services. Interest and financing service fees on loans include 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 fees 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 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. (iii) Realized gains/(losses) on sales of investments Realized gains/(losses) consist of realized gains and losses from the sale of investment securities, presented on a net basis. (iv) Gains on confiscation of credit risk mitigation positions (or “CRMPs”) Gains on confiscation of credit risk mitigation positions are recognized when sales partners surrender the CRMPs and the obligation of refunding the CRMPs is released.
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 11(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, interest and financing service fees accrual cease. 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 fees 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 For the years ended December 31, 2018 and 2019, the Group considered loans principal, interest and financing service fee receivables meeting any of the following conditions as uncollectible 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. In order to align the Group’s charge-off policies with ASC 326-20-35-8 (superseded ASC 310-10-35-41), the Group revised its charge-off policies to (1) provide additional information as to the collection efforts which must be exhausted before a charge-off is recorded and (2) charge down loans that are 180 days past due to net realizable value (fair value of collaterals, less estimated costs to sell) unless both well-secured and in the process of collection. The revised charge-off policies are presented as follows: Loans principal, interest and financing service fee receivables are charged down to net realizable value (fair value of collaterals, less estimated costs to sell) when the Group has determined the remaining balance is uncollectable after exhausting all collection efforts. In order to comply with ASC 310 and ASC 326, 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; (iii) sales of loans to third parties; (iv) settlement with the borrower, where the Group releases irrecoverable loans through private negotiations with the borrower where the borrower cannot repay the loan in full through self-funding or voluntary sale of the collateral; (v) disposal through legal proceedings, including but not limited to online arbitrations, judicial auctions and court enforcements; or (vi) loans are 180 days past due unless both well-secured and in the process of collection. The change in the charge-off policies as a result of the correction of an error had no impact on the Group’s provision for credit losses and an immaterial impact on the Group’s 2018 and 2019 audited consolidated financial statements as the balance of loans under scenario (iii), (iv), (v) and (vi) was offset by the allowance for credit losses before charge-offs and only resulted in a net off of the loans principal, interest and financing service fee receivables and the corresponding allowance balance. Allowance for credit losses Allowance for credit losses represents management’s best estimate of probable losses inherent in the portfolio. Commencing January 1, 2020, CNFinance adopted ASC 326, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”, which replaced the incurred loss methodology for determining the provision for credit losses and allowance for credit losses (“ACL”) with an expected loss methodology that is referred to as the current expected credit loss (“CECL”) model. ASC 326 defines the ACL as a valuation account that is deducted from the amortized cost of a financial asset to present the net amount that management expects to collect on the financial asset over its expected life. All financial assets carried at amortized cost are in the scope of ASC 326, while assets measured at fair value are excluded. The allowance for credit losses is adjusted each period for changes in expected lifetime credit losses. The allowance for credit losses includes an asset-specific component and a statistically based component. The Company aggregates loans sharing similar risk characteristics into pools for purposes of measuring expected credit losses. Pools are reassessed periodically to confirm that all loans within each pool continue to share similar risk characteristics. Expected credit losses for loans that do not share similar risk characteristics with other financial assets are measured individually. Estimation of CECLs requires CNFinance to make assumptions regarding the likelihood and severity of credit loss events and their impact on expected cash flows, which drive the probability of default (PD), loss given default (LGD) and exposure at default (EAD) models. In its loss forecasting framework, ECL is determined primarily by utilizing models for the borrowers’ PD, LGD and EAD and the Company incorporates forward-looking information through the use of macroeconomic scenarios applied over the forecasted life of the assets. These macroeconomic scenarios include variables that have historically been key drivers of increases and decreases in credit losses. These variables include, but are not limited to, gross-domestic product rates, interest rates and consumer price indexes. The ACL for financial assets held at amortized cost is a valuation account that is deducted from, or added to, the amortized cost basis of the financial assets to present the net amount expected to be collected. When credit expectations change, the valuation account is adjusted with changes reported in provision for credit losses. If amounts previously charged off are subsequently expected to be collected, the Group may recognize a negative allowance, which is limited to the amount that was previously charged off. 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. A financial asset is collateral-dependent when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the sale or operation of the collateral. When a collateral-dependent financial asset is probable of foreclosure, the Group will measure the ACL based on the fair value of the collateral and we will measure the ACL based on the collateral’s net realizable value (fair value of collateral, less estimated costs to sell). Under the collaboration model, when the Group grants a loan through a trust plan, the loan is with the borrower and guarantee is entered into with a separate counterparty (the sales partner). As such, under the definition of ASC 326-20-20, the guarantee arrangement and lending arrangement would be considered freestanding arrangements. As sale partners will provide guarantee of the entire loan to the Group, collection for loss is probable and estimable when a loss on an insured loan is incurred and recognized. In this case, the Group will recognize guarantee loss recoverable asset in the amount that the Group determines is probable to receive from the guarantor with an offsetting entry to “provision for credit losses” when the Group concludes that the loss recovery is collectible. However, potential recovery that exceeds the recognized loss, if any, (gain contingency) will not be recognized until cash is received. Therefore, the amounts estimated to be recoverable from the proceeds of guarantees will be reported as a separate asset (guarantee asset) in the balance sheet. The increase in guaranteed recoverable assets are included in the income statement as a reduction of the “provision for credit losses”, separate disclosure of the increase in guaranteed recoverable assets will be included in the rollforward of the “allowance for credit losses”. The income statement caption will be modified as “Provision for credit losses, net of increase in increase in guaranteed recoverable assets. 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 adjustments to the basis of the loan and therefore are included in the periodic determination of the lower of cost or fair value adjustments. The loan is derecognized if the Company does not retain any risk and rewards after transferring the loan. Such transfer would be recorded as sales according to ASC 860-10-40-5. At the time of derecognition, any related loan loss allowance is released. Gains and losses on loans transfer as a sale are recognized in the noninterest income.
Cash, cash equivalents and restricted cash	(f) Cash, cash equivalents and restricted cash 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 Group considers highly liquid investments that are readily convertible to known amounts of cash. Restricted cash are cash and cash equivalents that are not readily available for normal disbursement and mainly represents cash and cash equivalents from structured funds. Such restricted cash is not available to fund the general liquidity needs of the Group and could only be used to grant new loans and activities as mentioned in Note 1.
Investment securities	(g) Investment securities The Group classifies wealth management products and asset management products as investment securities. Investment securities are recorded at fair value and included in the profit and loss of changes in fair value. Realized gains and losses from the sale of investment securities 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, 2019 and 2020 and determined that it is more likely than not that the carrying value was less than the fair value. 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.
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 value 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 using a front-loading approach for an award with only service conditions that have a graded vesting schedule 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 lease liability is measured at the present value of future operating lease payments, discounted using the incremental borrowing rate. Right of use asset is measured at the amount of lease liabilities plus prepaid rent and direct costs, less any lease incentives. The operating lease expense is recognized on a straight-line basis over the lease term. Certain of the operating lease agreements contain rent holidays, which are considered in determining the straight-line operating lease 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 3 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, 2019 and 2020, the weighted average number of shares used in the calculation has been retroactively adjusted to reflect the incorporation of the Group 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 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 increase to the allowance for credit losses of RMB23,827,169, or 1.61 percent, an increase to the deferred tax assets of RMB5,956,792, and a decrease to retained earnings of RMB17,870,377 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 the ASU did not have any material impact on the financial statement disclosures. Financial Instruments: Codification Improvements In March 2020, the FASB issued ASU 2020-3, Codification Improvements to Financial Instruments, which revised a wide variety of topics in the Codification with the intent to make the Codification easier to understand and apply by eliminating inconsistencies and providing clarifications. ASU 2020-3 was effective immediately upon its release in March 2020 and did not have a material impact on the Group’s consolidated financial statements.
Recently issued accounting standards	(v) Recently issued accounting standards 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 will adopt this ASU on January 1, 2021. The ASU is currently not expected to have a material impact on the Group’s consolidated financial statements. Investments – Equity Securities, Equity Method and Joint Ventures, and Derivatives and Hedging: Clarifying the Interactions In January 2020, the FASB issued ASU No. 2020-01, Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815), which clarifies the interaction of the accounting for equity securities under Topic 321, the accounting for equity method investments in Topic 323, and the accounting for certain forward contracts and purchased options in Topic 815. For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years, with early adoption permitted. 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, 2020
Accounting Policies [Abstract]
Schedule of investment in significant subsidiaries	Name of company Place and date of incorporation/ establishment Registered Issued and fully paid up capital Percentage of equity attributable to the Group 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 and mortgage agency services 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 Chongqing Liangjiang New Area Fanhua Micro-credit Co., Ltd. the PRC USD 30,000,000 USD 30,000,000 - 100 % Micro credit and mortgage agency services Shenzhen Fanhua Micro-credit Co., Ltd. the PRC RMB 300,000,000 RMB 300,000,000 - 100 % Micro credit and mortgage agency services Name of company Place and date of incorporation/ establishment Registered Issued and fully paid up capital Percentage of equity attributable to the Group Principal activities Direct Indirect Shenzhen Fanhua Fund Management Services Co., Ltd. 深圳泛华基金管理服务有限公司 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. 泛华融资租赁深圳有限公司 the PRC USD 10,000,000 USD 10,000,000 - 100 % Business Shenzhen Fanhua Chengyu Finance Service Co., Ltd. 深圳泛华诚誉金融配套服务有限公司 the PRC March 15, 2013 RMB 10,000,000 RMB 10,000,000 - 100 % Labor outsourcing services Beijing Fanhua Qilin Capital Management Co., Ltd. 北京泛华麒麟资本管理有限公司 the PRC RMB 100,000,000 RMB 10,000,000 - 96 % Asset Management Shijiazhuang Fanhua Financial Advisory 石家庄泛华财务咨询有限公司 the PRC RMB 2,000,000 - - 100 % Financial Consultancy Taizhou Fanhua Financial Advisory Co., Ltd. 泰州泛华财务咨询服务有限公司 the PRC RMB 500,000 - - 100 % Financial Consultancy Xuzhou Shenfanlian Enterprise Management Co., Ltd. 徐州深泛联企业管理有限公司 the PRC RMB 10,000,000 - - 100 % Enterprise Management Name of company Place and establishment Registered Issued paid up capital Percentage of to the Group Principal activities Direct Indirect Nantong Shenfanlian Enterprise Management Co., Ltd. 南通深泛联企业管理有限公司 the PRC RMB 5,000,000 - - 100 % Enterprise Management Baoding Fanjie Financial Advisory Co., Ltd. 保定泛杰财务咨询有限公司 the PRC RMB 500,000 - - 100 % Financial Consultancy Shenzhen Fancheng 深圳泛诚商业运营管理合伙企业有限合伙 the PRC RMB 500,000,000 RMB 34,550,000 - 100 % Enterprise Management Fanxiaoxuan Cultural 泛小宣文化传媒广州有限公司 the PRC RMB 1,000,000 - - 100 % Enterprise Management 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 Luoyang Fanzhan Information technology Co., Ltd. the PRC RMB 500,000 - - 100 % Software development and maintenance Lanzhou Fanhua Enterprise Information Advisory Co., Ltd. the PRC RMB 200,000 - - 100 % Enterprise Management Yantai Shenzhen Fanlian Financial Advisory Co., Ltd. the PRC RMB 1,000,000 - - 100 % Financial consultancy Name of company Place and Registered Issued Percentage of Principal Direct Indirect Haikou Fanhua Financial Advisory Co., Ltd. 海口市泛华财务咨询有限公司 the PRC RMB 1,000,000 - - 100 % Financial consultancy Ganzhou Shenzhen Fanlian Financial Advisory Co., Ltd. 赣州深泛联财务咨询有限公司 the PRC RMB 1,000,000 - - 100 % Financial consultancy Guiyang Fanhua Financial Advisory Co., Ltd. 贵阳泛华财务咨询有限公司 the PRC RMB 1,000,000 - - 100 % Financial consultancy Lianyungang Shenzhen Fanlian Economic Information Advisory Co., Ltd. 连云港深泛联经济信息咨询有限公司 the PRC RMB 1,000,000 - - 100 % Financial consultancy Fanhua Jinfu (Foshan) Co., Ltd. 泛华金服（佛山）有限公司 the PRC RMB 200,000,000 - - 100 % Financial consultancy
Schedule of investments in the consolidated VIEs by the group	Name of structured funds Place and Principal Jinghua Structured Fund 5 the PRC Micro credit Jinghua Structured Fund 6 the PRC Micro credit Bohai Trust Shenfanlian Micro Finance Structured Fund the PRC Micro credit Bohai Huihe SME Structured Fund the PRC Micro credit Zhongyuan Wealth Anhui Structured Fund 1 the PRC Micro credit Zhongyuan Wealth Anhui Structured Fund 2 the PRC Micro credit Beijing Fanhua Micro-credit Company Limited the PRC Micro credit and mortgage agency services No.27 Jinghua Structured Fund the PRC May, 18,2018 Micro credit No.29 Jinghua Structured Fund the PRC May, 16,2018 Micro credit Yuecai Loan Structured Arrangement the PRC July 6, 2018 Micro credit Zhonghai Lanhai Structured Fund 1 the PRC July 18, 2018 Micro credit Bairui Hengyi No.613 Structured Fund the PRC July 25, 2018 Micro credit Bohai Trust No.1 Huiying Structured Fund the PRC September 10, 2018 Micro credit Bohai Trust No.2 Shenzhen Fanhua United Structured Fund the PRC November 28, 2018 Micro credit Everbright No.1 Business Acceleration Structured Fund the PRC Micro credit Name of structured funds Place and Principal Jinghua Structured Fund 1 the PRC Micro credit Zhonghai Lanhai Structured Fund 1-2 the PRC Micro credit Zhonghai Lanhai Structured Fund 1-3 中海信托-蓝海1-3号集合资金信托计划 the PRC Micro credit Hunan Structured Fund 2019-1 the PRC Micro credit Hunan Structured Fund 2019-2 the PRC Micro credit Shaanxi International Xinglong Structured Fund 1-1 the PRC Micro credit Shaanxi International Xinglong Structured Fund 2-1 the PRC Micro credit Bairui Hengyi No.711 Structured Fund the PRC Micro credit Zhonghai Lanhai Structured Fund 1-4 the PRC Micro credit Zhongyuan Wealth Anhui Structured Fund 49 the PRC Micro credit Bairui Hengyi No.724 Structured Fund the PRC Micro credit Zhonghai Lanhai Structured Fund 1-5 the PRC Micro credit Zhonghai Lanhai Structured Fund 1-6 the PRC Micro credit No. 50 Jinghua Structured Fund the PRC Micro credit Name of structured funds Place and Principal No. 70 Jinghua Structured Fund the PRC Micro credit Zhonghai Lanhai Structured Fund 1-1 the PRC Micro credit Shaanxi International Xinglong Structured Fund 22-1 the PRC Micro credit Zhonghai Lanhai Structured Fund 1-7 the PRC Micro credit No. 74 Jinghua Structured Fund the PRC Micro credit Hunan Structured Fund 2020-1 the PRC Micro credit
Schedule of assets and liabilities of the consolidated VIEs	December 31, 2019 2020 RMB RMB Cash and cash equivalents 1,075,146,003 1,038,176,909 Loans principal, interest and financing service fee receivables 10,096,892,280 8,852,118,199 Investment securities 865,685,426 1,612,974,725 Deferred tax assets 167 - Other assets 538,987,372 1,008,676,130 Total assets 12,576,711,248 12,511,945,963 Interest-bearing borrowings 7,090,260,790 5,701,590,909 Income taxes payable 642,912 642,912 Other liabilities 1,592,662,264 2,178,875,062 Total liabilities 8,683,565,966 7,881,108,883
Schedule of of operations of the VIEs	2018 2019 2020 RMB RMB RMB Revenue 4,030,796,059 2,939,040,096 1,915,875,820 Net income 910,293,862 663,949,174 658,400,554
Schedule of cash flows of the VIEs	2018 2019 2020 RMB RMB RMB Net cash provided by/(used in) operating activities 367,720,114 (426,302,852 ) (303,745,231 ) Net cash provided by/(used in) investing activities 274,412,708 4,207,318,357 692,705,844 Net cash provided by/(used in) financing activities 909,251,326 (5,262,323,314 ) (429,173,286 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
Fair Value Measurements (Tables)	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at fair value on a recurring basis	December 31, 2020 Fair value Level 1 Level 2 Level 3 RMB RMB RMB RMB Asset management products 20,028,205 - 20,028,205 - Wealth management products 398,108,568 397,107,417 1,001,151 - Total 418,136,773 397,107,417 21,029,356 - 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 - Total 654,328,054 - 654,328,054 -
Schedule of assets and liabilities measured at fair value on a non-recurring basis	December 31, 2020 Fair value Level 1 Level 2 Level 3 RMB RMB RMB RMB Loans (1) 656,490,484 - 656,490,484 - Loans held-for-sale (2) 76,013,067 - 76,013,067 - Equity securities (3) 34,010,000 - 34,010,000 - Total 766,513,551 - 766,513,551 - December 31, 2019 Fair value Level 1 Level 2 Level 3 RMB RMB RMB RMB Loans (1) - - - - Loans held-for-sale (2) 66,698,869 - 66,698,869 - Equity securities (3) 34,010,000 - 34,010,000 - Total 100,708,869 - 100,708,869 - (1) The Group records nonrecurring fair value adjustments to reflect partial write-downs that are based on the observable market price of the loan or current appraised value of the collateral. (2) Loans held for sale are held at LOCOM (the lower of cost or fair value) which may be written down to fair value on a nonrecurring basis. (3) Nonmarketable equity securities are accounted for using the measurement alternative and can be subject to nonrecurring fair value adjustments to record impairment.

Loans Principal, Interest and_2

Loans Principal, Interest and Financing Service Fee Receivables (Tables)	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
Schedule of summary of Impaired loans	December 31, Note 2019 2020 First lien Second lien Subtotal First lien Second lien Subtotal RMB RMB RMB RMB RMB RMB Loans principal, interest and financing service fee receivables 4,693,549,335 6,672,547,951 11,366,097,286 4,199,477,434 5,489,463,590 9,688,941,024 Less: allowance for credit losses (a) - Individually assessed (230,019,493 ) (440,261,819 ) (670,281,312 ) (44,485,858 ) (71,845,690 ) (116,331,548 ) - Collectively assessed (180,847,951 ) (256,949,166 ) (437,797,117 ) (225,683,727 ) (317,464,175 ) (543,147,902 ) Subtotal (410,867,444 ) (697,210,985 ) (1,108,078,429 ) (270,169,585 ) (389,309,865 ) (659,479,450 ) Net loans principal, interest and financing service fee receivables 4,282,681,891 5,975,336,966 10,258,018,857 3,929,307,849 5,100,153,725 9,029,461,574
Schedule of aging of allowance for credit losses	2020 Allowance for loans which are collectively assessed Allowance for loans which are individually assessed Total RMB RMB RMB RMB RMB RMB RMB First lien Second lien Subtotal First lien Second lien Subtotal As of January 1 180,847,951 256,949,166 437,797,117 230,019,493 440,261,819 670,281,312 1,108,078,429 Change in accounting principle (1) 4,910,017 18,917,152 23,827,169 - - - 23,827,169 beginning of year, adjusted 185,757,968 275,866,318 461,624,286 230,019,493 440,261,819 670,281,312 1,131,905,598 Provision for credit losses (58,152,840 ) (98,518,264 ) (156,671,104 ) 185,684,445 248,573,082 434,257,527 277,586,423 Charge-offs (21,325,086 ) (26,625,575 ) (47,950,661 ) (437,681,450 ) (697,756,733 ) (1,135,438,183 ) (1,183,388,844 ) Increase in guaranteed recoverable assets 119,403,685 166,741,696 286,145,381 66,463,370 80,767,522 147,230,892 433,376,273 Recoveries - - - - - - - As of December 31 225,683,727 317,464,175 543,147,902 44,485,858 71,845,690 116,331,548 659,479,450 Net loans principal, interest and financing service fee receivables 3,401,656,667 4,615,579,507 8,017,236,174 527,651,182 484,574,218 1,012,225,400 9,029,461,574 Recorded investment 3,627,340,394 4,933,043,682 8,560,384,076 572,137,040 556,419,908 1,128,556,948 9,688,941,024 2019 Allowance for loans which are collectively assessed Allowance for loans which are individually assessed Total RMB RMB RMB RMB RMB RMB RMB First lien Second lien Subtotal First lien Second lien Subtotal As of January 1 335,927,729 369,953,498 705,881,227 74,032,660 83,124,717 157,157,377 863,038,604 Provision for credit losses (108,565,060 ) (84,825,781 ) (193,390,841 ) 175,002,453 381,123,547 556,126,000 362,735,159 Charge-offs (2) (89,021,115 ) (85,976,409 ) (174,997,524 ) (19,015,620 ) (23,986,445 ) (43,002,065 ) (217,999,589 ) Increase in guaranteed recoverable assets 42,506,397 57,797,858 100,304,255 - - - 100,304,255 Recoveries - - - - - - - As of December 31 180,847,951 256,949,166 437,797,117 230,019,493 440,261,819 670,281,312 1,108,078,429 Net loans principal, interest and financing service fee receivables 3,839,504,668 5,539,903,945 9,379,408,613 443,177,223 435,433,021 878,610,244 10,258,018,857 Recorded investment 4,020,352,619 5,796,853,111 9,817,205,730 673,196,716 875,694,840 1,548,891,556 11,366,097,286 (1) Effective January 1, 2020, the Group adopted accounting guidance which changed impairment recognition of financial instruments to a model that is based on expected losses rather than incurred losses. (2) In 2020, the Group revised its charge-off policy so that charge down loans that are 180 days past due to net realizable value (fair value of collaterals, less estimated costs to sell) unless both well-secured and in the process of collection The change in the charge-off policies as a result of the correction of an error had no impact on the Group’s provision for credit losses and an immaterial impact on the Group’s 2018 and 2019 audited consolidated financial statements.
Schedule of aging of allowance for credit losses	Total current 1–30 days 31–89 days 91–179 days 180–269 days 270–359 days >360 days Total loans RMB RMB RMB RMB RMB RMB RMB RMB The collaboration model First lien 129,497,272 27,587,381 19,589,462 36,527,048 - - - 213,201,163 Second lien 188,724,825 39,093,005 22,486,268 53,516,823 - - - 303,820,921 Subtotal 318,222,097 66,680,386 42,075,730 90,043,871 - - - 517,022,084 The traditional facilitation model First lien 38,134,959 7,913,700 2,960,953 7,958,810 - - - 56,968,422 Second lien 49,851,330 11,634,453 5,674,294 18,328,867 - - - 85,488,944 Subtotal 87,986,289 19,548,153 8,635,247 26,287,677 - - - 142,457,366 Allowance for credit losses 406,208,386 86,228,539 50,710,977 116,331,548 - - - 659,479,450 Total current 1–30 days 31–89 days 91–179 days 180–269 days 270–359 days >360 days Total loans RMB RMB RMB RMB RMB RMB RMB RMB The collaboration model First lien 35,030,588 13,536,804 6,896,798 3,772,847 475,551 - - 59,712,588 Second lien 47,734,772 17,541,405 10,273,023 3,507,044 7,076,767 - - 86,133,011 Subtotal 82,765,360 31,078,209 17,169,821 7,279,891 7,552,318 - - 145,845,599 The traditional facilitation model First lien 29,728,615 41,608,151 54,046,995 43,039,816 54,399,151 71,665,979 56,666,149 351,154,856 Second lien 45,899,908 59,707,755 75,792,303 73,701,122 108,281,424 142,349,972 105,345,490 611,077,974 Subtotal 75,628,523 101,315,906 129,839,298 116,740,938 162,680,575 214,015,951 162,011,639 962,232,830 Allowance for credit losses 158,393,883 132,394,115 147,009,119 124,020,829 170,232,893 214,015,951 162,011,639 1,108,078,429
Schedule of aging of past-due loan principal and financing service fee receivables	Total current 1–30 days 31–89 days 91–179 days 180–269 days 270–359 days >360 days Total loans Total non-accrual RMB RMB RMB RMB RMB RMB RMB RMB RMB The collaboration model First lien 2,684,453,719 221,752,977 149,903,725 98,060,135 38,612,291 41,915,011 41,301,764 3,275,999,622 219,889,201 Second lien 3,674,976,053 313,210,401 170,889,729 115,930,426 35,482,816 27,816,721 20,635,455 4,358,941,601 199,865,418 Subtotal 6,359,429,772 534,963,378 320,793,454 213,990,561 74,095,107 69,731,732 61,937,219 7,634,941,223 419,754,619 The traditional facilitation model First lien 488,499,217 61,067,711 21,663,045 37,401,946 38,952,002 44,395,487 231,498,405 923,477,813 352,247,840 Second lien 641,379,934 91,200,722 41,386,843 47,930,588 45,427,025 44,423,820 218,773,056 1,130,521,988 356,554,489 Subtotal 1,129,879,151 152,268,433 63,049,888 85,332,534 84,379,027 88,819,307 450,271,461 2,053,999,801 708,802,329 Loans principal, interest and financing service fee receivables 7,489,308,923 687,231,811 383,843,342 299,323,095 158,474,134 158,551,039 512,208,680 9,688,941,024 1,128,556,948 Total current 1–30 days 31–89 days 91–179 days 180–269 days 270–359 days >360 days Total loans Total RMB RMB RMB RMB RMB RMB RMB RMB RMB The collaboration model First lien 1,998,813,257 62,545,907 25,513,691 8,692,517 1,151,088 - - 2,096,716,460 9,843,605 Second lien 2,718,738,017 80,877,056 37,566,648 7,457,194 8,941,652 - - 2,853,580,567 16,398,846 Subtotal 4,717,551,274 143,422,963 63,080,339 16,149,711 10,092,740 - - 4,950,297,027 26,242,451 The traditional facilitation model First lien 1,643,032,283 185,790,306 68,891,503 147,557,351 173,920,965 218,336,735 159,303,732 2,596,832,875 699,118,783 Second lien 2,535,294,261 267,456,186 108,695,215 177,513,619 244,116,975 288,764,892 197,126,236 3,818,967,384 907,521,722 Subtotal 4,178,326,544 453,246,492 177,586,718 325,070,970 418,037,940 507,101,627 356,429,968 6,415,800,259 1,606,640,505 Loans principal, interest and financing service fee receivables 8,895,877,818 596,669,455 240,667,057 341,220,681 428,130,680 507,101,627 356,429,968 11,366,097,286 1,632,882,956
Schedule of summary of Impaired loans	Recorded investment Unpaid Impaired Impaired Impaired Related RMB RMB RMB RMB RMB First lien 564,172,105 572,137,041 109,090,294 463,046,747 44,485,858 Second lien 562,839,906 556,419,907 132,824,814 423,595,093 71,845,690 As of December 31,2020 1,127,012,011 1,128,556,948 241,915,108 886,641,840 116,331,548 First lien 714,820,883 708,962,388 606,955,948 102,006,440 230,019,493 Second lien 937,961,325 923,920,568 771,834,730 152,085,838 440,261,819 As of December 31,2019 1,652,782,208 1,632,882,956 1,378,790,678 254,092,278 670,281,312
Schedule of average recorded investment in impaired loans	Year ended December 31, 2019 2020 Average (i) Interest and (ii) Average (i) Interest and (ii) RMB RMB RMB RMB First lien 633,643,411 42,367,639 575,787,304 37,935,099 Second lien 745,893,152 39,326,404 598,022,585 58,090,531 Impaired loans 1,379,536,563 81,694,043 1,173,809,889 96,025,630 (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 fees recognized related to impaired loans. All the amounts are recognized on cash basis.

Investment Securities (Tables)

Investment Securities (Tables)	12 Months Ended
Investment Securities (Tables)	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Schedule of carrying amount and fair value of the investment securities	Aggregate cost basis Profits and losses from fair value changes Aggregate fair value RMB RMB RMB As of December 31, 2020: Asset management products 20,000,000 28,205 20,028,205 Wealth management products 398,080,000 28,568 398,108,568 Total 418,080,000 56,773 418,136,773 Aggregate cost basis Gross unrealized holding gains Aggregate fair value 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

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
Property and Equipment (Tables)	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	December 31, 2019 2020 RMB RMB Office and other equipment 22,151,112 19,288,892 Leasehold improvements 21,636,662 17,858,447 Motor vehicles 1,580,101 1,950,081 Less: accumulated depreciation (36,171,900 ) (34,381,272 ) Total 9,195,975 4,716,148

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	12 Months Ended
Intangible Assets and Goodwill (Tables)	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets and goodwil	December 31, Note 2019 2020 RMB RMB Intangible assets (a) 3,738,338 3,230,126
Schedule of intangible assets	December 31, 2019 December 31, 2020 Gross carrying Accumulated Net carrying Gross carrying Accumulated Net carrying value amortization value value amortization value RMB RMB RMB RMB RMB RMB Amortized intangible assets: Software 8,790,903 (8,022,565 ) 768,338 9,270,094 (9,009,968 ) 260,126 Cooperation agreement 5,030,000 (5,030,000 ) - 5,030,000 (5,030,000 ) - Total amortized intangible assets 13,820,903 (13,052,565 ) 768,338 14,300,094 (14,039,968 ) 260,126 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, 2020 (actual) 987,402 Estimate for year ended December 31, 2021 237,098 2022 13,763 2023 516 2024 - 2025 -

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
Other Assets (Tables)	Dec. 31, 2020
Disclosure Text Block Supplement [Abstract]
Schedule of other assets	Note December 31, 2019 2020 RMB RMB Guaranteed assets (i) 100,304,255 533,680,528 Non-marketable equity securities (ii) 34,010,000 34,010,000 Receivable from sale of loans (iii) 46,312,256 17,241,092 Amounts due from employees (iv) 10,026,151 5,352,718 Prepayments 6,850,294 2,403,478 Receivables for realization of collaterals 5,205,818 2,821,944 Other receivables 4,814,242 12,175,217 Total 207,523,016 607,684,977 (i) As described in Note 12, sales partners submit 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 increase in guaranteed recoverable assets guaranteed by the CRMPs is probable and estimable. If the increase in guaranteed recoverable assets is probable and estimable, the amount guaranteed by the CRMPs is recognized as guaranteed assets. (ii) 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, 2019 and 2020, 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, 2019 and 2020, the Group invested 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 RMB24,010,000 in Qingyuan Rural. The measurement alternative is selected for the above non-marketable equity securities. Under the measurement alternative, the equity securities without readily determinable fair value are measured at cost minus impairment and adjusted for changes in observable prices. No change in observable price has been identified and no impairment has recorded for the two years of 2019 and 2020. (iii) As mentioned in Note 5, 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. (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, 2020
Debt Disclosure [Abstract]
Schedule of borrowings under agreements to repurchase	Note Fixed interest rate Term December 31, 2019 2020 RMB RMB Repurchase agreements Funds obtained from Private investment funds 15% to 16 % Less than 1 year 275,930,000 - Financial institution (i) 8% to 13.2 % Within 4 years 589,103,161 507,620,299 Interest payable Financial institution (i) 5,745,054 956,583 Total repurchase agreements 870,778,215 508,576,882 (i) Funds obtained from financial institutions
Schedule of carrying amounts of pledged assets	December 31, 2019 2020 Underlying collateral types of gross obligations RMB RMB Repurchase agreements: Rights to earnings in the Group’s subordinated tranches of consolidated VIEs 275,930,000 400,000,000 Loans principal, interest and financing service fee receivables 594,848,215 108,576,882 Total repurchase agreements 870,778,215 508,576,882
Schedule of contractual maturities of the gross obligations under repurchase agreements	Overnight Up to 30 days 30 to 90 days Greater than Total gross RMB RMB RMB RMB RMB Repurchase agreements As of December 31,2020 - 37,871,851 111,761,847 358,943,184 508,576,882 As of December 31,2019 - 684,791,408 115,136,807 70,850,000 870,778,215
Schedule of aggregate annual maturities of long-term borrowing obligations	Other borrowings Note Fixed interest rate per annum Term December 31, 2019 2020 Short-term: RMB RMB Investors of consolidated VIEs (i) 7% to 12.7 % Less than 1 year 4,505,914,751 3,491,862,448 Senior tranche of trust plan which invests in the Group’s loans portfolio (ii) 10.24 % Within 1 year 37,547,527 9,343,996 Long-term: Investors of consolidated VIEs (i) 7.2% to 12.1 % Within 5 years 2,056,035,701 2,088,565,691 Interest payable to Investors of consolidated VIEs (i) 52,640,336 59,897,208 Total 6,652,138,315 5,649,669,343 (i) The financial liabilities arising from the VIEs with underlying investments in loans to customers are classified as payable 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. As of December 31, 2020, the borrowings from VIEs have principal RMB5,580,428,139, bearing interests from 7% to 12.7% per year. (ii) As of December 31, 2020, the borrowings from senior tranche of trust plan which invested in the Group’s loans portfolio are the capitals from senior tranche holders of No.1 Wukuang Trust Yangguang Fanhua Plan with principal RMB9,343,996 million, bearing interests at 10.24% per year.
Schedule of aggregate annual maturities of long-term borrowing obligations	December 31,2020 2021 2022 2023 2024 2025 Thereafter Total RMB RMB RMB RMB RMB RMB RMB Investors of consolidated VIEs - 1,081,671,701 463,887,721 34,745,191 508,261,078 - 2,088,565,691
Schedule of carrying amounts of pledged assets	December 31, 2019 2020 RMB RMB Rights to earnings in the Group’s subordinated tranches of consolidated VIEs 1,369,872,606 312,080,250 Rights to earnings in loans principal, interest and financing service fee receivables 92,628,340 32,578,951 Loans principal, interest and financing service fee receivables 712,710,327 292,555,126 Total 2,175,211,273 637,214,327

Credit Risk Mitigation Positi_2

Credit Risk Mitigation Position (Tables)	12 Months Ended
Credit Risk Mitigation Position (Tables)	Dec. 31, 2020
Risks and Uncertainties [Abstract]
Schedule of credit risk mitigation position	December 31, 2019 2020 RMB RMB Balance at the beginning of the year - 928,702,101 Increase during the year 1,288,929,674 1,431,323,388 Decrease during the year (352,306,712 ) (1,136,849,732 ) Confiscation during the year (7,920,861 ) (13,446,619 ) Balance at the end of the year 928,702,101 1,209,729,138

Other Liabilities (Tables)

Other Liabilities (Tables)	12 Months Ended
Other Liabilities (Tables)	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
Schedule of other liabilities	Note December 31, 2019 2020 RMB RMB Guarantee repayments from sales partner (i) - 126,903,531 Receipt in advance (ii) 118,109,316 121,160,268 Settlement and clearing accounts (iii) 49,175,523 94,287,235 Other tax payables (iv) 86,798,908 74,757,159 Customer pledged deposits (v) 60,233,291 47,588,065 Collaboration cost payable (vi) 29,191,882 34,713,800 Amounts due to third parties 10,768,698 10,545,062 Accrued expenses (vii) 45,156,653 8,406,812 Others (viii) 5,034,932 5,335,193 Total 404,469,203 523,697,125 (i) Under the collaboration model, sales partners are required to provide a certain level of guarantee of repayment for loans recommended. Guarantee repayments from sales partner mainly consist of repayments collected from sales partners who exercise the guarantee, and those repayments will be returned to trust company. (ii) Receipt in advance consists 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 for the traditional facilitation model amounted to RMB102,491,426 and RMB 118,078,758 as of December 31, 2019 and 2020. (iii) The Group transferred loans to third party investors and recorded these transactions as sales in Note 5(c). After the transfer, the contract terms related to payment proceeds from the loans remain the same: The Group collects payments of loans and then disburses the proceeds from the relevant loans to third-party transferees. (iv) Other tax payables mainly represent value-added tax and surcharges payables. (v) Customer pledged deposits mainly consist of the deposits collected from certain customers to reduce the risk of failure to make payments on schedule. (vi) As mentioned in Note 19, the Group will pay collaboration cost to the sales partners who introduce prospective borrowers to the Group. collaboration cost for sales partners is a fixed percentage of the loan principal amount and is calculated by subtracting the project cost from interest and fees income received from borrowers. (vii) Accrued expenses mainly consist of promotional costs relating to building the collaboration model and expenses payable to consultants such as the auditor and lawyer. (viii) Other liabilities are expected to be settled or recognized as income within one year or are repayable on demand. (i) Under the collaboration model, sales partners are required to provide a certain level of guarantee of repayment for loans recommended. Guarantee repayments from sales partner mainly consist of repayments collected from sales partners who exercise the guarantee, and those repayments will be returned to trust company. (ii) Receipt in advance consists 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 for the traditional facilitation model amounted to RMB102,491,426 and RMB 118,078,758 as of December 31, 2019 and 2020. (iii) The Group transferred loans to third party investors and recorded these transactions as sales in Note 5(c). After the transfer, the contract terms related to payment proceeds from the loans remain the same: The Group collects payments of loans and then disburses the proceeds from the relevant loans to third-party transferees. (iv) Other tax payables mainly represent value-added tax and surcharges payables. (v) Customer pledged deposits mainly consist of the deposits collected from certain customers to reduce the risk of failure to make payments on schedule. (vi) As mentioned in Note 19, the Group will pay collaboration cost to the sales partners who introduce prospective borrowers to the Group. collaboration cost for sales partners is a fixed percentage of the loan principal amount and is calculated by subtracting the project cost from interest and fees income received from borrowers. (vii) Accrued expenses mainly consist of promotional costs relating to building the collaboration model and expenses payable to consultants such as the auditor and lawyer. (viii) 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, 2020
Retained Earnings Disclosure [Abstract]
Schedule of retained earnings	Note December 31, 2019 2020 RMB RMB PRC statutory reserves (i) 258,654,052 258,654,052 PRC surplus reserves (ii) 147,125,493 161,631,825 Unreserved retained earnings 2,256,366,104 2,338,841,922 Total 2,662,145,649 2,759,127,799 (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 Losses (Tables)	12 Months Ended
Accumulated Other Comprehensive Losses (Tables)	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Schedule of accumulated Other Comprehensive Losses	Foreign Unrealized gain on investment securities currency Before tax Income Tax (expense) or benefit Net-of-tax 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, 2020 (2,290,452 ) 228,053 (57,013 ) 171,040 Other comprehensive loss, net (16,166,094 ) (228,053 ) 57,013 (171,040 ) Balance as of December 31, 2020 (18,456,546 ) - - -

Interest and Financing Servic_2

Interest and Financing Service Fees on Loans (Tables)	12 Months Ended
Interest and Financing Service Fees on Loans (Tables)	Dec. 31, 2020
Interest And Financing Service Fee On Loans [Abstract]
Schedule of interest and fees income costs	Year ended December 31, 2020 traditional facilitation model Collaboration model Total RMB RMB RMB Interest and financing service fees on loans 695,645,512 1,133,042,398 1,828,687,910 Interests on deposits with banks 3,877,845 12,256,073 16,133,918 Interest expense on interest-bearing borrowings (256,597,312 ) (474,718,053 ) (731,315,365 ) Net interest and fees income 442,926,045 670,580,418 1,113,506,463 Collaboration cost for sales partners - (415,104,428 ) (415,104,428 ) Net interest and fees income after collaboration cost 442,926,045 255,475,990 698,402,035 Provision for credit losses (130,589,189 ) (146,997,234 ) (277,586,423 ) Net interest and fees income after provision for credit losses 312,336,856 108,478,756 420,815,612

Other Gains, Net (Tables)

Other Gains, Net (Tables)	12 Months Ended
Other Gains, Net (Tables)	Dec. 31, 2020
Other Revenue Disclosure [Abstract]
Schedule of other gains, net	Year ended December 31, Note 2018 2019 2020 RMB RMB RMB Net gains on confiscated credit risk mitigation positions (i) - 7,920,861 13,446,619 Mortgage agency service revenue (ii) 4,466,608 679,933 511,500 Foreign exchange gains/(losses) (iii) 1,836,029 647,316 (5,345,004 ) Net loss on disposal of property and equipment (946,244 ) (3,049,896 ) (2,868 ) Profits and losses from fair value changes - - 56,773 Others (3,242,074 ) 177,134 11,095,033 Total 2,114,319 6,375,348 19,762,053 (i) 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, otherwise the CRMPs deposited by sales partners are confiscated by the Group. Net gains on confiscated CRMPs increased to RMB13,446,619 in 2020. (ii) 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. (iii) The changes of foreign exchange gain/(loss) are mainly due to exchange rate changes in cash and cash equivalents held by the group, including US dollar account and Hong Kong dollar account. The company recorded a foreign exchange (loss) as RMB5,345,004 in 2020, a decrease of RMB5,992,320 compared with that in 2019. The loss is mainly due to the decrease of the exchange rate between Hong Kong dollar and RMB and the US dollar against RMB.

Other Expenses (Tables)

Other Expenses (Tables)	12 Months Ended
Other Expenses (Tables)	Dec. 31, 2020
Other Expenses [Abstract]
Schedule of other expenses	Year ended December 31, 2018 2019 2020 RMB RMB RMB Advertising and promotion expenses 15,323,838 45,789,035 30,471,983 Litigation fees 22,467,468 25,305,057 24,764,412 Consulting fees 9,580,602 16,762,953 14,486,656 Research and development expenses 1,419,878 2,430,338 9,960,607 Office and commute expenses 14,425,608 21,835,262 9,120,261 Attorney fees 5,983,431 23,748,333 8,503,270 Entertainment and travelling expenses 14,237,820 10,905,234 7,010,704 Depreciation and amortization 13,299,246 10,917,300 6,047,226 Directors and officers liability insurance - 6,433,824 4,232,722 Communication expenses 2,549,164 2,874,165 2,495,071 Others 14,268,602 15,677,035 6,949,270 Total 113,555,657 182,678,536 124,042,182

Income Tax Expense (Tables)

Income Tax Expense (Tables)	12 Months Ended
Income Tax Expense (Tables)	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of income tax expense	Year ended December 31, 2018 2019 2020 RMB RMB RMB Current tax expense 401,913,951 182,459,389 142,238,819 Deferred tax (benefit)/expense (105,085,476 ) 3,908,847 (94,389,779 ) Total income tax expense 296,828,475 186,368,236 47,849,040
Schedule of components of the deferred tax assets and liabilities	Year ended December 31, 2019 2020 RMB RMB Deferred tax assets: Allowance for loans principal 254,945,409 299,532,574 Allowance for interest and financing fee receivables 22,654,969 22,733,700 Net operating loss carry-forwards 6,459,941 10,443,239 Lease liabilities 9,533,485 4,886,125 Other deferred tax assets 1,388,307 1,919,331 Total deferred tax assets 294,982,111 339,514,969 Valuation allowance (6,459,941 ) (10,443,239 ) Deferred tax assets, net of valuation allowance 288,522,170 329,071,730 Deferred tax liabilities: Intangible assets (742,500 ) (742,500 ) Investment securities (57,014 ) - Right-of-use assets (9,533,485 ) (4,867,131 ) Loans and other assets - (78,329,130 ) Undistributed earnings from structured funds (621,034,296 ) (565,903,639 ) Total deferred tax liabilities (631,367,295 ) (649,842,400 )
Schedule of movement of valuation allowance	2019 2020 RMB RMB At the beginning of year 5,743,768 6,459,941 Current year additions 2,843,639 5,420,745 Current year reversals (2,025,434 ) (1,374,712 ) Current year charge-offs (102,032 ) (62,735 ) At the end of year 6,459,941 10,443,239
Schedule of income before income tax	Year ended December 31, 2018 2019 2020 RMB RMB RMB Cayman Islands (5,671 ) (4,424,505 ) (2,847,746 ) BVI 161,953 45,003 (22,126 ) Hong Kong entities (77,026 ) 2,014,052 3,424,910 PRC entities 1,157,657,930 723,377,628 162,146,528 Total 1,157,737,186 721,012,178 162,701,566
Schedule of reconciliation of statutory income tax rate to the effective income tax rate	Year ended December 31, 2018 2019 2020 PRC statutory income tax rate 25.00 % 25.00 % 25.00 % (Decrease)/increase in effective income tax rate resulting from: Effect of tax-free income (0.03 )% (0.06 )% (8.02 )% Effect of non-deductible share option expense 0.86 % 0.55 % 9.54 % Effect of zero tax rate in foreign countries (0.00 )% 0.15 % 0.44 % Changes in valuation allowance (0.59 )% 0.11 % 2.49 % Others 0.42 % 0.09 % (0.04 )% Effective income tax rate 25.66 % 25.84 % 29.41 %

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
Earnings Per Share (Tables)	Dec. 31, 2020
Earnings Per Share [Abstract]
Schedule of computation of basic and diluted earnings per share	Year ended December 31, 2018 2019 2020 RMB RMB RMB Net income 860,908,711 534,643,942 114,852,526 Basic weighted average number of common shares outstanding 1,251,608,224 1,371,643,240 1,371,643,240 Effect of dilutive share options 137,727,545 96,143,147 153,589,125 Dilutive weighted average number of ordinary shares 1,389,335,769 1,467,786,387 1,525,232,365 Basic earnings per share 0.69 0.39 0.08 Diluted earnings per share 0.62 0.36 0.08

Share-Based Compensation Expe_2

Share-Based Compensation Expenses (Tables)	12 Months Ended
Share-Based Compensation Expenses (Tables)	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of estimated fair value of binomial option pricing model	Share awards granted on January 3, Share awards granted on December 31, 2019 Expected volatility 40.00 % 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 Weighted exercise price Weighted 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 Weighted exercise price Weighted 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 Balance, December 31, 2019 119,674,780 - 0.72 Granted - - - Exercised - - - Surrendered - - - Balance, December 31, 2020 119,674,780 - 0.72 Exercisable, December 31, 2020 59,837,390 - 0.72 Expected to vest, December 31, 2020 59,837,390 - 0.72
Schedule of fair value of options and ordinary shares estimated at the dates of option grants	Date of options grant Options Exercise Fair value Fair value of ordinary shares January 3, 2017 75,173,492 RMB 0.50 RMB 1.26 RMB 1.72 January 3, 2017 112,760,238 RMB 0.50 RMB 1.27 RMB 1.72 December 31, 2019 83,772,346 RMB 1.00 RMB 0.71 RMB 1.40 December 31, 2019 35,902,434 RMB 1.00 RMB 0.75 RMB 1.40

Operating Leases (Tables)

Operating Leases (Tables)	12 Months Ended
Operating Leases (Tables)	Dec. 31, 2020
Disclosure Text Block [Abstract]
Schedule of operating lease cost and other supplemental information	Year ended December 31, 2018 2019 2020 RMB RMB RMB Operating lease cost (1) 58,317,758 36,607,623 21,719,042 December 31, December 31, RMB RMB Weighted-average remaining lease term 2 Years 1.2 Years Weighted-average discount rate 4.75 % 4.73 % Cash paid for amounts included in the measurement of lease liabilities under operating cash flows 39,195,151 18,327,069 ROU assets obtained in exchange for new operating lease liabilities 38,133,941 19,468,523 (1) Amounts include short-term leases that are immaterial.
Schedule of reconciliation to the lease liabilities	Year Ended December 31, RMB 2021 14,245,045 2022 5,210,201 2023 700,106 2024 219,038 2025 - Thereafter - Total future operating lease payments 20,374,390 Less: imputed interest (829,891 ) Total present value of operating lease liabilities 19,544,499

Condensed Financial Informati_2

Condensed Financial Information of the Parent Company (Tables)	12 Months Ended
	Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract]
Schedule of condensed balance sheets	December 31, December 31, 2019 2020 RMB RMB Assets Cash and cash equivalents 7,192,877 3,315,160 Investments in subsidiaries 392,559,403 392,559,403 Other assets 316,693,899 296,210,723 Total assets 716,446,179 692,085,286 Liabilities and shareholders’ equity Accrued employee benefits 418,572 97,555 Other operating liabilities 10,988,499 10,508,460 Total liabilities 11,407,071 10,606,015 Ordinary shares (3,800,000,000 shares authorized; 1,371,643,240 shares with USD0.0001 as par value issued as of December 31, 2019 and December 31, 2020) 916,743 916,743 Additional paid-in capital 705,422,445 705,422,445 Retained earnings (4,430,177 ) (7,277,923 ) Accumulated other comprehensive income: 3,130,097 (17,581,994 ) Total shareholders’ equity 705,039,108 681,479,271 Total liabilities and shareholders’ equity 716,446,179 692,085,286
Schedule of condensed statements of comprehensive income	2019 2020 RMB RMB Interest and fees income Interest on deposits with banks 426,672 5,713 Total interest and fees income 426,672 5,713 Other revenue 3,353,216 - Total non-interest income 3,353,216 - Total Revenue 3,779,888 5,713 Operating expenses Employee compensation and benefits (660,018 ) (397,404 ) Other expenses (7,544,375 ) (2,456,055 ) Total operating expenses (8,204,393 ) (2,853,459 ) Income before income tax (4,424,505 ) (2,847,746 ) Income tax expense - - Net loss (4,424,505 ) (2,847,746 ) Other comprehensive income/(losses) Foreign currency translation adjustment 5,255,576 (20,712,092 ) Comprehensive income/(losses) 831,071 (23,559,838 )
Schedule of condensed statements of cash flows	2019 2020 RMB RMB Cash flows from operating activities: Net loss (4,424,505 ) (2,847,746 ) Other operating assets (316,693,899 ) 20,483,176 Other operating liabilities 3,248,087 (801,055 ) Net cash (used in)/provided by operating activities (317,870,317 ) 16,834,375 Net (decrease)/increase in cash and cash equivalents (317,870,317 ) 16,834,375 Cash and cash equivalents at the beginning of year 319,807,618 7,192,877 Effect of exchange rate change on cash and cash equivalents 5,255,576 (20,712,092 ) Cash and cash equivalents at the end of year 7,192,877 3,315,160

Description of Business, Orga_3

Description of Business, Organization, and Basis of Presentation (Details) - CNY (¥)	1 Months Ended
	Mar. 27, 2018	Dec. 31, 2020	Dec. 31, 2019
Description of Business, Organization, and Basis of Presentation (Details) [Line Items]
Cash and cash equivalents of structured funds (in Yuan Renminbi)		¥ 1,034,933,331	¥ 1,073,209,525
Ordinary share [Member]
Description of Business, Organization, and Basis of Presentation (Details) [Line Items]
Total issued and outstanding shares		1,230,434,041
Sincere Fame International Limited [Member]
Description of Business, Organization, and Basis of Presentation (Details) [Line Items]
Ordinary shares exchanged for ordinary shares of parent company	1,230,434,040
CNFinance [Member]
Description of Business, Organization, and Basis of Presentation (Details) [Line Items]
Ordinary shares exchanged for ordinary shares of parent company	1,230,434,040

Description of Business, Orga_4

Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries	12 Months Ended
	Dec. 31, 2020CNY (¥)
Shenzhen Fanhua United Investment Group Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC August 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%
Principal activities	Investment Holding
Guangzhou Anyu Mortgage Consulting Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC January 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%
Principal activities	Micro credit and mortgage agency services
Chongqing Fengjie Financial Advisory Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC June 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%
Principal activities	Financial consultancy
Guangzhou Chengze Information Technology Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC December 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%
Principal activities	Software development and maintenance
Shenzhen Fanhua Micro-credit Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC March 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%
Principal activities	Micro credit and mortgage agency services
Shenzhen Fanhua Fund Management Services Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC June 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%
Principal activities	Company register service
Guangzhou Heze Information Technology Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC September 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%
Principal activities	Software development and maintenance
Shenzhen Fanlian Investment Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC November 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%
Principal activities	Investment Holding
Shenzhen Fanhua Chengyu Finance Service Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC March 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%
Principal activities	Labor outsourcing services
Beijing Fanhua Qilin Capital Management Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC December 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%
Principal activities	Asset Management
Shijiazhuang Fanhua Financial Advisory Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC July 27, 2017
Registered capital	¥ 2,000,000
Issued and fully paid up capital
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%
Principal activities	Financial Consultancy
Taizhou Fanhua Financial Advisory Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC September 28, 2017
Registered capital	¥ 500,000
Issued and fully paid up capital
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%
Principal activities	Financial Consultancy
Xuzhou Shenfanlian Enterprise Management Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC December 7, 2017
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%
Principal activities	Enterprise Management
Nantong Shenfanlian Enterprise Management Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC September 8, 2017
Registered capital	¥ 5,000,000
Issued and fully paid up capital
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%
Principal activities	Enterprise Management
Baoding Fanjie Financial Advisory Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC February 9, 2018
Registered capital	¥ 500,000
Issued and fully paid up capital
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%
Principal activities	Financial Consultancy
Shenzhen Fancheng Business Operation Management Partnership (Limited Partnership) [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC June 22, 2018
Registered capital	¥ 500,000,000
Issued and fully paid up capital	¥ 34,550,000
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%
Principal activities	Enterprise Management
Fanxiaoxuan Cultural Media (Guangzhou) Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC July 16, 2018
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%
Principal activities	Enterprise Management
Guangzhou Fanze Information Technology Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC February 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%
Principal activities	Software development and maintenance
Langfang Fanhua Technology Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC September 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%
Principal activities	Software development and maintenance
Shenyang Fanhua Financial Advisory Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC November 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%
Principal activities	Financial consultancy
Luoyang Fanzhan Information technology Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC May 13, 2020
Registered capital	¥ 500,000
Issued and fully paid up capital
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%
Principal activities	Software development and maintenance
Lanzhou Fanhua Enterprise Information Advisory Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC May 19, 2020
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%
Principal activities	Enterprise Management
Yantai Shenzhen Fanlian Financial Advisory Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC June 22, 2020
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%
Principal activities	Financial consultancy
Haikou Fanhua Financial Advisory Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC June 12, 2020
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%
Principal activities	Financial consultancy
Ganzhou Shenzhen Fanlian Financial Advisory Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC August 8, 2020
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%
Principal activities	Financial consultancy
Guiyang Fanhua Financial Advisory Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC July 9, 2020
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%
Principal activities	Financial consultancy
Lianyungang Shenzhen Fanlian Economic Information Advisory Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC September 29, 2020
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%
Principal activities	Financial consultancy
Fanhua Jinfu (Foshan) Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC May 22, 2020
Registered capital	¥ 200,000,000
Issued and fully paid up capital
Percentage of equity attributable to the Group - Direct
Percentage of equity attributable to the Group - Indirect	100.00%
Principal activities	Financial consultancy
USD [Member] \| Sincere Fame International Limited [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	British Virgin Islands October 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%
Percentage of equity attributable to the Group - Indirect
Principal activities	Investment Holding
USD [Member] \| Chongqing Liangjiang New Area Fanhua Micro-credit Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC December 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%
Principal activities	Micro credit and mortgage agency services
USD [Member] \| Fanhua Financial Leasing (Shenzhen) Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC September 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%
Principal activities	Business Advisory
HKD [Member] \| China Financial Services Group Limited [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	Hong Kong August 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%
Principal activities	Investment Holding
HKD [Member] \| Fanhua Chuang Li Information Technology (Shenzhen) Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC December 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%
Principal activities	Investment Holding
HKD [Member] \| Beijing Lianxin Chuanghui Information Technology Co., Ltd. [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investment in significant subsidiaries [Line Items]
Place and date of incorporation/ establishment	the PRC February 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%
Principal activities	Software development and maintenance

Description of Business, Orga_5

Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group	12 Months Ended
	Dec. 31, 2020
Jinghua Structured Fund 5 [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC December 19, 2014
Principal activities	Micro credit
Jinghua Structured Fund 6 [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC September 9, 2014
Principal activities	Micro credit
Bohai Trust Shenfanlian Micro Finance Structured Fund [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC September 14, 2016
Principal activities	Micro credit
Bohai Huihe SME Structured Fund [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC September 29, 2017
Principal activities	Micro credit
Zhongyuan Wealth Anhui Structured Fund 1 [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC January 20, 2017
Principal activities	Micro credit
Zhongyuan Wealth Anhui Structured Fund 2 [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC August 18, 2017
Principal activities	Micro credit
Beijing Fanhua Micro-credit Company Limited [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC August 10, 2012
Principal activities	Micro credit and mortgage agency services
No.27 Jinghua Structured Fund [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC May, 18,2018
Principal activities	Micro credit
No.29 Jinghua Structured Fund [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC May, 16,2018
Principal activities	Micro credit
Yuecai Loan Structured Arrangement [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC July 6, 2018
Principal activities	Micro credit
Zhonghai Lanhai Structured Fund 1 [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC July 18, 2018
Principal activities	Micro credit
Bairui Hengyi No.613 Structured Fund [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC July 25, 2018
Principal activities	Micro credit
Bohai Trust No.1 Huiying Structured Fund [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC September 10, 2018
Principal activities	Micro credit
Bohai Trust No.2 Shenzhen Fanhua United Structured Fund [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC November 28, 2018
Principal activities	Micro credit
Everbright No.1 Business Acceleration Structured Fund [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC November 29, 2018
Principal activities	Micro credit
Jinghua Structured Fund 1 [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC May 8, 2019
Principal activities	Micro credit
Zhonghai Lanhai Structured Fund 1-2 [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC June 28, 2019
Principal activities	Micro credit
Zhonghai Lanhai Structured Fund 1-3 [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC September 11, 2019
Principal activities	Micro credit
Hunan Structured Fund 2019-1 [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC September 23, 2019
Principal activities	Micro credit
Hunan Structured Fund 2019-2 [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC September 23, 2019
Principal activities	Micro credit
Shaanxi International Xinglong Structured Fund 1-1 [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC November 6, 2019
Principal activities	Micro credit
Shaanxi International Xinglong Structured Fund 2-1 [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC September 24, 2019
Principal activities	Micro credit
Bairui Hengyi No.711 Structured Fund [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC September 20, 2019
Principal activities	Micro credit
Zhonghai Lanhai Structured Fund 1-4 [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC October 10, 2019
Principal activities	Micro credit
Zhongyuan Wealth Anhui Structured Fund 49 [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC October 24, 2019
Principal activities	Micro credit
Bairui Hengyi No.724 Structured Fund [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC November 11, 2019
Principal activities	Micro credit
Zhonghai Lanhai Structured Fund 1-5 [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC November 19, 2019
Principal activities	Micro credit
Zhonghai Lanhai Structured Fund 1-6 [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC December 20, 2019
Principal activities	Micro credit
No. 50 Jinghua Structured Fund [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC April 26, 2019
Principal activities	Micro credit
No. 70 Jinghua Structured Fund [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC December 25, 2019
Principal activities	Micro credit
Zhonghai Lanhai Structured Fund 1-1 [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC May 19, 2020
Principal activities	Micro credit
Shaanxi International Xinglong Structured Fund 22-1 [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC June 22, 2020
Principal activities	Micro credit
Zhonghai Lanhai Structured Fund 1-7 [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC August 14, 2020
Principal activities	Micro credit
No. 74 Jinghua Structured Fund [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC November 26, 2020
Principal activities	Micro credit
Hunan Structured Fund 2020-1 [Member]
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of investments in the consolidated VIEs by the group [Line Items]
Place and date of incorporation/ establishment	the PRC December 8, 2020
Principal activities	Micro credit

Description of Business, Orga_6

Description of Business, Organization, and Basis of Presentation (Details) - Schedule of assets and liabilities of the consolidated VIEs - Variable Interest Entities, Primary Beneficiary [Member] - CNY (¥)	Dec. 31, 2020	Dec. 31, 2019
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of assets and liabilities of the consolidated VIEs [Line Items]
Cash and cash equivalents	¥ 1,038,176,909	¥ 1,075,146,003
Loans principal, interest and financing service fee receivables	8,852,118,199	10,096,892,280
Investment securities	1,612,974,725	865,685,426
Deferred tax assets		167
Other assets	1,008,676,130	538,987,372
Total assets	12,511,945,963	12,576,711,248
Interest-bearing borrowings	5,701,590,909	7,090,260,790
Income taxes payable	642,912	642,912
Other liabilities	2,178,875,062	1,592,662,264
Total liabilities	¥ 7,881,108,883	¥ 8,683,565,966

Description of Business, Orga_7

Description of Business, Organization, and Basis of Presentation (Details) - Schedule of of operations of the VIEs - Variable Interest Entities, Primary Beneficiary [Member] - CNY (¥)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed Income Statements, Captions [Line Items]
Revenue	¥ 1,915,875,820	¥ 2,939,040,096	¥ 4,030,796,059
Net income	¥ 658,400,554	¥ 663,949,174	¥ 910,293,862

Description of Business, Orga_8

Description of Business, Organization, and Basis of Presentation (Details) - Schedule of cash flows of the VIEs - Variable Interest Entities, Primary Beneficiary [Member] - CNY (¥)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Description of Business, Organization, and Basis of Presentation (Details) - Schedule of cash flows of the VIEs [Line Items]
Net cash provided by/(used in) operating activities	¥ (303,745,231)	¥ (426,302,852)	¥ 367,720,114
Net cash provided by/(used in) investing activities	692,705,844	4,207,318,357	274,412,708
Net cash provided by/(used in) financing activities	¥ (429,173,286)	¥ (5,262,323,314)	¥ 909,251,326

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Details) ¥ in Thousands	Jan. 02, 2020USD ($)	Dec. 31, 2020CNY (¥)
Summary of Significant Accounting Policies (Details) [Line Items]
Recognized income tax, percentage		50.00%
Increase to the allowance credit losses (in Dollars)	$ 23,827,169
Increase to the allowance credit losses, percentage	1.61%
Decrease in Retained earnings (in Dollars)	$ 5,956,792
Cumulative-effect adjustment (in Dollars)	$ 17,870,377
Computer Software, Intangible Asset [Member] \| Minimum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Intangible assets with finite useful lives		1 year
Computer Software, Intangible Asset [Member] \| Maximum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Intangible assets with finite useful lives		5 years
Cooperation agreements [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Intangible assets with finite useful lives		5 years
Leasehold Improvements [Member] \| Minimum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Estimated useful life of Property and equipment		1 year
Leasehold Improvements [Member] \| Maximum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Estimated useful life of Property and equipment		6 years
Motor vehicles [Member] \| Minimum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Estimated useful life of Property and equipment		3 years
Motor vehicles [Member] \| Maximum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Estimated useful life of Property and equipment		8 years
Office and other equipment [Member] \| Minimum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Estimated useful life of Property and equipment		1 year
Office and other equipment [Member] \| Maximum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Estimated useful life of Property and equipment		5 years
Trademarks [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Indefinite-lived intangible assets carrying value (in Yuan Renminbi) \| ¥		¥ 2,970

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a recurring basis - CNY (¥)	Dec. 31, 2020	Dec. 31, 2019
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a recurring basis [Line Items]
Total	¥ 418,136,773	¥ 654,328,054
Level 1 [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a recurring basis [Line Items]
Total	397,107,417
Level 2 [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a recurring basis [Line Items]
Total	21,029,356	654,328,054
Level 3 [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a recurring basis [Line Items]
Total
Fair value recurring [Member] \| Asset management products [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a recurring basis [Line Items]
Asset management products	20,028,205	20,020,456
Fair value recurring [Member] \| Wealth management products [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a recurring basis [Line Items]
Wealth management products	398,108,568	634,307,598
Fair value recurring [Member] \| Level 1 [Member] \| Asset management products [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a recurring basis [Line Items]
Asset management products
Fair value recurring [Member] \| Level 1 [Member] \| Wealth management products [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a recurring basis [Line Items]
Wealth management products	397,107,417
Fair value recurring [Member] \| Level 2 [Member] \| Asset management products [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a recurring basis [Line Items]
Asset management products	20,028,205	20,020,456
Fair value recurring [Member] \| Level 2 [Member] \| Wealth management products [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a recurring basis [Line Items]
Wealth management products	1,001,151	634,307,598
Fair value recurring [Member] \| Level 3 [Member] \| Asset management products [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a recurring basis [Line Items]
Asset management products
Fair value recurring [Member] \| Level 3 [Member] \| Wealth management products [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a recurring basis [Line Items]
Wealth management products

Fair Value Measurements (Deta_2

Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis - CNY (¥)		Dec. 31, 2020	Dec. 31, 2019
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Loans held-for-sale		¥ 76,013,067	¥ 66,698,869
Total		766,513,551	100,708,869
Level 1 [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Total
Level 2 [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Total		766,513,551	100,708,869
Level 3 [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Total
Fair Value, Nonrecurring [Member] \| Loans [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Loans	[1]	656,490,484
Fair Value, Nonrecurring [Member] \| Loans held-for-sale [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Loans held-for-sale	[2]	76,013,067	66,698,869
Fair Value, Nonrecurring [Member] \| Equity securities [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Equity securities	[3]	34,010,000	34,010,000
Fair Value, Nonrecurring [Member] \| Level 1 [Member] \| Loans [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Loans	[1]
Fair Value, Nonrecurring [Member] \| Level 1 [Member] \| Loans held-for-sale [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Loans held-for-sale	[2]
Fair Value, Nonrecurring [Member] \| Level 1 [Member] \| Equity securities [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Equity securities	[3]
Fair Value, Nonrecurring [Member] \| Level 2 [Member] \| Loans [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Loans	[1]	656,490,484
Fair Value, Nonrecurring [Member] \| Level 2 [Member] \| Loans held-for-sale [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Loans held-for-sale	[2]	76,013,067	66,698,869
Fair Value, Nonrecurring [Member] \| Level 2 [Member] \| Equity securities [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Equity securities	[3]	34,010,000	34,010,000
Fair Value, Nonrecurring [Member] \| Level 3 [Member] \| Loans [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Loans	[1]
Fair Value, Nonrecurring [Member] \| Level 3 [Member] \| Loans held-for-sale [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Loans held-for-sale	[2]
Fair Value, Nonrecurring [Member] \| Level 3 [Member] \| Equity securities [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Equity securities	[3]

[1]	The Group records nonrecurring fair value adjustments to reflect partial write-downs that are based on the observable market price of the loan or current appraised value of the collateral.
[2]	Loans held for sale are held at LOCOM (the lower of cost or fair value) which may be written down to fair value on a nonrecurring basis.
[3]	Nonmarketable equity securities are accounted for using the measurement alternative and can be subject to nonrecurring fair value adjustments to record impairment.

Cash, Cash Equivalents and Re_2

Cash, Cash Equivalents and Restricted Cash (Details)	12 Months Ended
Cash, Cash Equivalents and Restricted Cash (Details)	Dec. 31, 2020CNY (¥)	Dec. 31, 2019CNY (¥)
Cash and Cash Equivalents [Abstract]
Number of PRC individual financial institutions	3	3
Percentage of excess cash balances	10.00%	10.00%
Percentage bank deposits collectively accounted	83.00%	84.00%
Percentage cash balances collectively accounted	0.90%	1.09%
Restricted cash (in Yuan Renminbi)	¥ 1,034,933,331	¥ 1,073,209,525

Loans Principal, Interest and_3

Loans Principal, Interest and Financing Service Fee Receivables (Details) - Third Party Investors [Member] - CNY (¥)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Loans Principal, Interest and Financing Service Fee Receivables (Details) [Line Items]
Carrying amount of loans	¥ 1,004,069,874	¥ 497,001,089
Net gains on sale of loans	149,631,456	75,959,140
Loans transferred to held-for-sale	586,206,781	370,700,724
Held-for-sale measured at fair value	¥ 76,013,067	¥ 66,698,869

Loans Principal, Interest and_4

Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of loans principal, interest and financing service fee receivables - CNY (¥)	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans principal, interest and financing service fee receivables	¥ 9,688,941,024	¥ 11,366,097,286
- Individually assessed	(116,331,548)	(670,281,312)
- Collectively assessed	(543,147,902)	(437,797,117)
Subtotal	(659,479,450)	(1,108,078,429)
Net loans principal, interest and financing service fee receivables	9,029,461,574	10,258,018,857
First lien [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans principal, interest and financing service fee receivables	4,199,477,434	4,693,549,335
- Individually assessed	(44,485,858)	(230,019,493)
- Collectively assessed	(225,683,727)	(180,847,951)
Subtotal	(270,169,585)	(410,867,444)
Net loans principal, interest and financing service fee receivables	3,929,307,849	4,282,681,891
Second lien [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans principal, interest and financing service fee receivables	5,489,463,590	6,672,547,951
- Individually assessed	(71,845,690)	(440,261,819)
- Collectively assessed	(317,464,175)	(256,949,166)
Subtotal	(389,309,865)	(697,210,985)
Net loans principal, interest and financing service fee receivables	¥ 5,100,153,725	¥ 5,975,336,966

Loans Principal, Interest and_5

Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of allowance for credit losses - CNY (¥)		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019		Dec. 31, 2018
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance, January 1		¥ 1,108,078,429	¥ 863,038,604
Change in accounting principle	[1]	23,827,169
beginning of year, adjusted		1,131,905,598
Provision for credit losses		277,586,423	362,735,159		¥ 433,753,901
Charge-offs		(1,183,388,844)	(217,999,589)	[2]
Increase in guaranteed recoverable assets		433,376,273	100,304,255
Recoveries
Ending Balance, December 31		659,479,450	1,108,078,429		863,038,604
Net loans principal, interest and financing service fee receivables		9,029,461,574	10,258,018,857
Recorded investment		9,688,941,024	11,366,097,286
First lien [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Net loans principal, interest and financing service fee receivables		3,929,307,849	4,282,681,891
Recorded investment		4,199,477,434	4,693,549,335
Second lien [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Net loans principal, interest and financing service fee receivables		5,100,153,725	5,975,336,966
Recorded investment		5,489,463,590	6,672,547,951
Allowance for loans which are collectively assessed [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance, January 1		437,797,117	705,881,227
Change in accounting principle	[1]	23,827,169
beginning of year, adjusted		461,624,286
Provision for credit losses		(156,671,104)	(193,390,841)
Charge-offs		(47,950,661)	(174,997,524)	[2]
Increase in guaranteed recoverable assets		286,145,381	100,304,255
Recoveries
Ending Balance, December 31		543,147,902	437,797,117		705,881,227
Net loans principal, interest and financing service fee receivables		8,017,236,174	9,379,408,613
Recorded investment		8,560,384,076	9,817,205,730
Allowance for loans which are collectively assessed [Member] \| First lien [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance, January 1		180,847,951	335,927,729
Change in accounting principle	[1]	4,910,017
beginning of year, adjusted		185,757,968
Provision for credit losses		(58,152,840)	(108,565,060)
Charge-offs		(21,325,086)	(89,021,115)	[2]
Increase in guaranteed recoverable assets		119,403,685	42,506,397
Recoveries
Ending Balance, December 31		225,683,727	180,847,951		335,927,729
Net loans principal, interest and financing service fee receivables		3,401,656,667	3,839,504,668
Recorded investment		3,627,340,394	4,020,352,619
Allowance for loans which are collectively assessed [Member] \| Second lien [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance, January 1		256,949,166	369,953,498
Change in accounting principle	[1]	18,917,152
beginning of year, adjusted		275,866,318
Provision for credit losses		(98,518,264)	(84,825,781)
Charge-offs		(26,625,575)	(85,976,409)	[2]
Increase in guaranteed recoverable assets		166,741,696	57,797,858
Recoveries
Ending Balance, December 31		317,464,175	256,949,166		369,953,498
Net loans principal, interest and financing service fee receivables		4,615,579,507	5,539,903,945
Recorded investment		4,933,043,682	5,796,853,111
Allowance for loans which are individually assessed [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance, January 1		670,281,312	157,157,377
Change in accounting principle	[1]
beginning of year, adjusted		670,281,312
Provision for credit losses		434,257,527	556,126,000
Charge-offs		(1,135,438,183)	(43,002,065)	[2]
Increase in guaranteed recoverable assets		147,230,892
Recoveries
Ending Balance, December 31		116,331,548	670,281,312		157,157,377
Net loans principal, interest and financing service fee receivables		1,012,225,400	878,610,244
Recorded investment		1,128,556,948	1,548,891,556
Allowance for loans which are individually assessed [Member] \| First lien [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance, January 1		230,019,493	74,032,660
Change in accounting principle	[1]
beginning of year, adjusted		230,019,493
Provision for credit losses		185,684,445	175,002,453
Charge-offs		(437,681,450)	(19,015,620)	[2]
Increase in guaranteed recoverable assets		66,463,370
Recoveries
Ending Balance, December 31		44,485,858	230,019,493		74,032,660
Net loans principal, interest and financing service fee receivables		527,651,182	443,177,223
Recorded investment		572,137,040	673,196,716
Allowance for loans which are individually assessed [Member] \| Second lien [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance, January 1		440,261,819	83,124,717
Change in accounting principle	[1]
beginning of year, adjusted		440,261,819
Provision for credit losses		248,573,082	381,123,547
Charge-offs		(697,756,733)	(23,986,445)	[2]
Increase in guaranteed recoverable assets		80,767,522
Recoveries
Ending Balance, December 31		71,845,690	440,261,819		¥ 83,124,717
Net loans principal, interest and financing service fee receivables		484,574,218	435,433,021
Recorded investment		¥ 556,419,908	¥ 875,694,840

[1]	Effective January 1, 2020, the Group adopted accounting guidance which changed impairment recognition of financial instruments to a model that is based on expected losses rather than incurred losses.
[2]	In 2020, the Group revised its charge-off policy so that charge down loans that are 180 days past due to net realizable value (fair value of collaterals, less estimated costs to sell) unless both well-secured and in the process of collection. The change in the charge-off policies as a result of the correction of an error had no impact on the Group’s provision for credit losses and an immaterial impact on the Group’s 2018 and 2019 audited consolidated financial statements.

Loans Principal, Interest and_6

Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses - CNY (¥)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current	¥ 406,208,386	¥ 158,393,883
Total loans	659,479,450	1,108,078,429	¥ 863,038,604
Collaboration Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current	318,222,097	82,765,360
Total loans	517,022,084	145,845,599
Traditional Facilitation Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current	87,986,289	75,628,523
Total loans	142,457,366	962,232,830
First lien [Member] \| Collaboration Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current	129,497,272	35,030,588
Total loans	213,201,163	59,712,588
First lien [Member] \| Traditional Facilitation Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current	38,134,959	29,728,615
Total loans	56,968,422	351,154,856
Second lien [Member] \| Collaboration Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current	188,724,825	47,734,772
Total loans	303,820,921	86,133,011
Second lien [Member] \| Traditional Facilitation Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current	49,851,330	45,899,908
Total loans	85,488,944	611,077,974
1–30 days past due [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current	86,228,539	132,394,115
1–30 days past due [Member] \| Collaboration Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current	66,680,386	31,078,209
1–30 days past due [Member] \| Traditional Facilitation Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current	19,548,153	101,315,906
1–30 days past due [Member] \| First lien [Member] \| Collaboration Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current	27,587,381	13,536,804
1–30 days past due [Member] \| First lien [Member] \| Traditional Facilitation Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current	7,913,700	41,608,151
1–30 days past due [Member] \| Second lien [Member] \| Collaboration Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current	39,093,005	17,541,405
1–30 days past due [Member] \| Second lien [Member] \| Traditional Facilitation Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current	11,634,453	59,707,755
31–89 days past due [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current	50,710,977	147,009,119
31–89 days past due [Member] \| Collaboration Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current	42,075,730	17,169,821
31–89 days past due [Member] \| Traditional Facilitation Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current	8,635,247	129,839,298
31–89 days past due [Member] \| First lien [Member] \| Collaboration Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current	19,589,462	6,896,798
31–89 days past due [Member] \| First lien [Member] \| Traditional Facilitation Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current	2,960,953	54,046,995
31–89 days past due [Member] \| Second lien [Member] \| Collaboration Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current	22,486,268	10,273,023
31–89 days past due [Member] \| Second lien [Member] \| Traditional Facilitation Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current	5,674,294	75,792,303
91–179 days past due [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current	116,331,548	124,020,829
91–179 days past due [Member] \| Collaboration Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current	90,043,871	7,279,891
91–179 days past due [Member] \| Traditional Facilitation Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current	26,287,677	116,740,938
91–179 days past due [Member] \| First lien [Member] \| Collaboration Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current	36,527,048	3,772,847
91–179 days past due [Member] \| First lien [Member] \| Traditional Facilitation Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current	7,958,810	43,039,816
91–179 days past due [Member] \| Second lien [Member] \| Collaboration Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current	53,516,823	3,507,044
91–179 days past due [Member] \| Second lien [Member] \| Traditional Facilitation Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current	18,328,867	73,701,122
180–269 days past due [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current		170,232,893
180–269 days past due [Member] \| Collaboration Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current		7,552,318
180–269 days past due [Member] \| Traditional Facilitation Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current		162,680,575
180–269 days past due [Member] \| First lien [Member] \| Collaboration Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current		475,551
180–269 days past due [Member] \| First lien [Member] \| Traditional Facilitation Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current		54,399,151
180–269 days past due [Member] \| Second lien [Member] \| Collaboration Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current		7,076,767
180–269 days past due [Member] \| Second lien [Member] \| Traditional Facilitation Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current		108,281,424
270–359 days past due [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current		214,015,951
270–359 days past due [Member] \| Collaboration Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current
270–359 days past due [Member] \| Traditional Facilitation Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current		214,015,951
270–359 days past due [Member] \| First lien [Member] \| Collaboration Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current
270–359 days past due [Member] \| First lien [Member] \| Traditional Facilitation Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current		71,665,979
270–359 days past due [Member] \| Second lien [Member] \| Collaboration Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current
270–359 days past due [Member] \| Second lien [Member] \| Traditional Facilitation Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current		142,349,972
>360 days past due [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current		162,011,639
>360 days past due [Member] \| Collaboration Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current
>360 days past due [Member] \| Traditional Facilitation Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current		162,011,639
>360 days past due [Member] \| First lien [Member] \| Collaboration Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current
>360 days past due [Member] \| First lien [Member] \| Traditional Facilitation Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current		56,666,149
>360 days past due [Member] \| Second lien [Member] \| Collaboration Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current
>360 days past due [Member] \| Second lien [Member] \| Traditional Facilitation Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Total current		¥ 105,345,490

Loans Principal, Interest and_7

Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of past-due loan principal and financing service fee receivables - CNY (¥)	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
Total current	¥ 7,489,308,923	¥ 8,895,877,818
Total loans	9,688,941,024	11,366,097,286
Total non-accrual	1,128,556,948	1,632,882,956
Collaboration Model [Member]
Financing Receivable, Past Due [Line Items]
Total current	6,359,429,772	4,717,551,274
Total loans	7,634,941,223	4,950,297,027
Total non-accrual	419,754,619	26,242,451
Traditional Facilitation Model [Member]
Financing Receivable, Past Due [Line Items]
Total current	1,129,879,151	4,178,326,544
Total loans	2,053,999,801	6,415,800,259
Total non-accrual	708,802,329	1,606,640,505
First lien [Member] \| Collaboration Model [Member]
Financing Receivable, Past Due [Line Items]
Total current	2,684,453,719	1,998,813,257
Total loans	3,275,999,622	2,096,716,460
Total non-accrual	219,889,201	9,843,605
First lien [Member] \| Traditional Facilitation Model [Member]
Financing Receivable, Past Due [Line Items]
Total current	488,499,217	1,643,032,283
Total loans	923,477,813	2,596,832,875
Total non-accrual	352,247,840	699,118,783
Second lien [Member] \| Collaboration Model [Member]
Financing Receivable, Past Due [Line Items]
Total current	3,674,976,053	2,718,738,017
Total loans	4,358,941,601	2,853,580,567
Total non-accrual	199,865,418	16,398,846
Second lien [Member] \| Traditional Facilitation Model [Member]
Financing Receivable, Past Due [Line Items]
Total current	641,379,934	2,535,294,261
Total loans	1,130,521,988	3,818,967,384
Total non-accrual	356,554,489	907,521,722
1–30 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	687,231,811	596,669,455
1–30 days past due [Member] \| Collaboration Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	534,963,378	143,422,963
1–30 days past due [Member] \| Traditional Facilitation Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	152,268,433	453,246,492
1–30 days past due [Member] \| First lien [Member] \| Collaboration Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	221,752,977	62,545,907
1–30 days past due [Member] \| First lien [Member] \| Traditional Facilitation Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	61,067,711	185,790,306
1–30 days past due [Member] \| Second lien [Member] \| Collaboration Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	313,210,401	80,877,056
1–30 days past due [Member] \| Second lien [Member] \| Traditional Facilitation Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	91,200,722	267,456,186
31–90 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	383,843,342	240,667,057
31–90 days past due [Member] \| Collaboration Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	320,793,454	63,080,339
31–90 days past due [Member] \| Traditional Facilitation Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	63,049,888	177,586,718
31–90 days past due [Member] \| First lien [Member] \| Collaboration Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	149,903,725	25,513,691
31–90 days past due [Member] \| First lien [Member] \| Traditional Facilitation Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	21,663,045	68,891,503
31–90 days past due [Member] \| Second lien [Member] \| Collaboration Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	170,889,729	37,566,648
31–90 days past due [Member] \| Second lien [Member] \| Traditional Facilitation Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	41,386,843	108,695,215
91–179 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	299,323,095	341,220,681
91–179 days past due [Member] \| Collaboration Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	213,990,561	16,149,711
91–179 days past due [Member] \| Traditional Facilitation Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	85,332,534	325,070,970
91–179 days past due [Member] \| First lien [Member] \| Collaboration Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	98,060,135	8,692,517
91–179 days past due [Member] \| First lien [Member] \| Traditional Facilitation Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	37,401,946	147,557,351
91–179 days past due [Member] \| Second lien [Member] \| Collaboration Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	115,930,426	7,457,194
91–179 days past due [Member] \| Second lien [Member] \| Traditional Facilitation Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	47,930,588	177,513,619
180–269 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	158,474,134	428,130,680
180–269 days past due [Member] \| Collaboration Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	74,095,107	10,092,740
180–269 days past due [Member] \| Traditional Facilitation Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	84,379,027	418,037,940
180–269 days past due [Member] \| First lien [Member] \| Collaboration Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	38,612,291	1,151,088
180–269 days past due [Member] \| First lien [Member] \| Traditional Facilitation Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	38,952,002	173,920,965
180–269 days past due [Member] \| Second lien [Member] \| Collaboration Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	35,482,816	8,941,652
180–269 days past due [Member] \| Second lien [Member] \| Traditional Facilitation Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	45,427,025	244,116,975
270–359 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	158,551,039	507,101,627
270–359 days past due [Member] \| Collaboration Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	69,731,732
270–359 days past due [Member] \| Traditional Facilitation Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	88,819,307	507,101,627
270–359 days past due [Member] \| First lien [Member] \| Collaboration Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	41,915,011
270–359 days past due [Member] \| First lien [Member] \| Traditional Facilitation Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	44,395,487	218,336,735
270–359 days past due [Member] \| Second lien [Member] \| Collaboration Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	27,816,721
270–359 days past due [Member] \| Second lien [Member] \| Traditional Facilitation Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	44,423,820	288,764,892
>360 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	512,208,680	356,429,968
>360 days past due [Member] \| Collaboration Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	61,937,219
>360 days past due [Member] \| Traditional Facilitation Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	450,271,461	356,429,968
>360 days past due [Member] \| First lien [Member] \| Collaboration Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	41,301,764
>360 days past due [Member] \| First lien [Member] \| Traditional Facilitation Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	231,498,405	159,303,732
>360 days past due [Member] \| Second lien [Member] \| Collaboration Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	20,635,455
>360 days past due [Member] \| Second lien [Member] \| Traditional Facilitation Model [Member]
Financing Receivable, Past Due [Line Items]
Total loans	¥ 218,773,056	¥ 197,126,236

Loans Principal, Interest and_8

Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of summary of Impaired loans - CNY (¥)	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Impaired [Line Items]
Unpaid principal balance	¥ 1,127,012,011	¥ 1,652,782,208
Recorded investment, Impaired loans	1,128,556,948	1,632,882,956
Recorded investment, Impaired loans with related allowance for credit losses	241,915,108	1,378,790,678
Recorded investment, Impaired loans without related allowance for credit losses	886,641,840	254,092,278
Related allowance for credit losses	116,331,548	670,281,312
First lien [Member]
Financing Receivable, Impaired [Line Items]
Unpaid principal balance	564,172,105	714,820,883
Recorded investment, Impaired loans	572,137,041	708,962,388
Recorded investment, Impaired loans with related allowance for credit losses	109,090,294	606,955,948
Recorded investment, Impaired loans without related allowance for credit losses	463,046,747	102,006,440
Related allowance for credit losses	44,485,858	230,019,493
Second lien [Member]
Financing Receivable, Impaired [Line Items]
Unpaid principal balance	562,839,906	937,961,325
Recorded investment, Impaired loans	556,419,907	923,920,568
Recorded investment, Impaired loans with related allowance for credit losses	132,824,814	771,834,730
Recorded investment, Impaired loans without related allowance for credit losses	423,595,093	152,085,838
Related allowance for credit losses	¥ 71,845,690	¥ 440,261,819

Loans Principal, Interest and_9

Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of average recorded investment in impaired loans - CNY (¥)		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of average recorded investment in impaired loans [Line Items]
Impaired loans, Average recorded investment	[1]	¥ 1,173,809,889	¥ 1,379,536,563
Impaired loans, Interest and fees income recognized	[2]	96,025,630	81,694,043
First lien [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of average recorded investment in impaired loans [Line Items]
Impaired loans, Average recorded investment	[1]	575,787,304	633,643,411
Impaired loans, Interest and fees income recognized	[2]	37,935,099	42,367,639
Second lien [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of average recorded investment in impaired loans [Line Items]
Impaired loans, Average recorded investment	[1]	598,022,585	745,893,152
Impaired loans, Interest and fees income recognized	[2]	¥ 58,090,531	¥ 39,326,404

[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 fees recognized related to impaired loans. All the amounts are recognized on cash basis.

Investment Securities (Details)

Investment Securities (Details) - Schedule of carrying amount and fair value of the investment securities - CNY (¥)	Dec. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Aggregate cost basis	¥ 418,080,000	¥ 654,100,000
Profits and losses from fair value changes	56,773
Aggregate fair value	418,136,773	654,328,054
Gross unrealized holding gains		228,054
Asset management products [Member]
Debt Securities, Available-for-sale [Line Items]
Aggregate cost basis	20,000,000	20,000,000
Profits and losses from fair value changes	28,205
Aggregate fair value	20,028,205	20,020,456
Gross unrealized holding gains		20,456
Wealth management products [Member]
Debt Securities, Available-for-sale [Line Items]
Aggregate cost basis	398,080,000	634,100,000
Profits and losses from fair value changes	28,568
Aggregate fair value	¥ 398,108,568	634,307,598
Gross unrealized holding gains		¥ 207,598

Property and Equipment (Details

Property and Equipment (Details) - CNY (¥)	12 Months Ended
Property and Equipment (Details) - CNY (¥)	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Depreciation expense	¥ 5,059,824	¥ 10,382,987

Property and Equipment (Detail

Property and Equipment (Details) - Schedule of property and equipment - CNY (¥)	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Less: accumulated depreciation	¥ (34,381,272)	¥ (36,171,900)
Total	4,716,148	9,195,975
Office and other equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	19,288,892	22,151,112
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	17,858,447	21,636,662
Motor vehicles [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	¥ 1,950,081	¥ 1,580,101

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill (Details) - CNY (¥)	Dec. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Accumulated amortization	¥ 14,039,968	¥ 13,052,565

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill (Details) - Schedule of intangible assets and goodwil - CNY (¥)	Dec. 31, 2020	Dec. 31, 2019
Schedule of intangible assets and goodwil [Abstract]
Intangible assets	¥ 3,230,126	¥ 3,738,338

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill (Details) - Schedule of intangible assets - CNY (¥)	Dec. 31, 2020	Dec. 31, 2019
Amortized intangible assets:
Gross carrying value	¥ 14,300,094	¥ 13,820,903
Accumulated amortization	(14,039,968)	(13,052,565)
Net carrying value	260,126	768,338
Software [Member]
Amortized intangible assets:
Gross carrying value	9,270,094	8,790,903
Accumulated amortization	(9,009,968)	(8,022,565)
Net carrying value	260,126	768,338
Cooperation agreement [Member]
Amortized intangible assets:
Gross carrying value	5,030,000	5,030,000
Accumulated amortization	(5,030,000)	(5,030,000)
Net carrying value
Trademarks [Member]
Unamortized intangible assets:
Unamortized intangible assets	¥ 2,970,000	¥ 2,970,000

Intangible Assets and Goodwil_5

Intangible Assets and Goodwill (Details) - Schedule of amortization expense for current year and future periods	Dec. 31, 2020CNY (¥)
Schedule of amortization expense for current year and future periods [Abstract]
Year ended December 31, 2020 (actual)	¥ 987,402
Estimate for year ended December 31,
2021	237,098
2022	13,763
2023	516
2024
2025

Deposits (Details)

Deposits (Details)	12 Months Ended
Deposits (Details)	Dec. 31, 2020
Deposits Assets Disclosures [Abstract]
Percentage of size of trust plans subscribed	1.00%

Other Assets (Details)

Other Assets (Details) - CNY (¥)	1 Months Ended
Other Assets (Details) - CNY (¥)	Jun. 30, 2016	Dec. 31, 2020	Dec. 31, 2019	Sep. 18, 2019	Dec. 31, 2013
Other Assets (Details) [Line Items]
Percentage of paid in capital invested		1.72%	1.72%		10.00%
Unrelated third party shares (in Shares)	2,000,000
Investment cost				¥ 3
Paid-in capital		¥ 999,662,882	¥ 937,589,515
Huangpu Ronghe [Member]
Other Assets (Details) [Line Items]
Amount of investment		10,000,000	¥ 100,000,000
Qingyuan Rural [Member]
Other Assets (Details) [Line Items]
Percentage of paid in capital invested	2.14%
Amount of investment		24,010,000
Group transfers of shares (in Shares)	10,003,334
Group invested (in Yuan Renminbi per share)	¥ 3
Paid-in capital		¥ 1,400,000,000

Other Assets (Details) - Schedu

Other Assets (Details) - Schedule of other assets - CNY (¥)		Dec. 31, 2020	Dec. 31, 2019
Schedule of other assets [Abstract]
Guaranteed assets	[1]	¥ 533,680,528	¥ 100,304,255
Non-marketable equity securities	[2]	34,010,000	34,010,000
Receivable from sale of loans	[3]	17,241,092	46,312,256
Amounts due from employees	[4]	5,352,718	10,026,151
Prepayments		2,403,478	6,850,294
Receivables for realization of collaterals		2,821,944	5,205,818
Other receivables		12,175,217	4,814,242
Total		¥ 607,684,977	¥ 207,523,016

[1]	As described in Note 12, sales partners submit 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 increase in guaranteed recoverable assets guaranteed by the CRMPs is probable and estimable. If the increase in guaranteed recoverable assets is probable and estimable, the amount guaranteed by the CRMPs is recognized as guaranteed assets.
[2]	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, 2019 and 2020, 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, 2019 and 2020, the Group invested 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 RMB24,010,000 in Qingyuan Rural. The measurement alternative is selected for the above non-marketable equity securities. Under the measurement alternative, the equity securities without readily determinable fair value are measured at cost minus impairment and adjusted for changes in observable prices. No change in observable price has been identified and no impairment has recorded for the two years of 2019 and 2020.
[3]	As mentioned in Note 5, 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.
[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.

Interest-Bearing Borrowings (De

Interest-Bearing Borrowings (Details) - CNY (¥)	Jul. 11, 2018	May 07, 2020	Mar. 29, 2019	Jan. 28, 2019	Dec. 17, 2018	Nov. 20, 2018	Jun. 15, 2018	Dec. 31, 2020	Dec. 31, 2019	Jun. 07, 2018
Interest-Bearing Borrowings (Details) [Line Items]
Debt Instrument, Face Amount								¥ 5,580,428,139
Carrying value of collateral for repurchase agreements								¥ 604,635,376	¥ 2,082,582,932
Minimum [Member]
Interest-Bearing Borrowings (Details) [Line Items]
Interest rate								7.00%
Maximum [Member]
Interest-Bearing Borrowings (Details) [Line Items]
Interest rate								12.70%
Xiamen Asset Management Co Ltd [Member]
Interest-Bearing Borrowings (Details) [Line Items]
Loans principal, interest and financing service fee receivables with carrying amount						¥ 499,999,800				¥ 499,521,447
Amount of long-term funds obtained								¥ 77,474,002
Interest payable								603,354
Xiamen Asset Management Co Ltd [Member] \| Minimum [Member]
Interest-Bearing Borrowings (Details) [Line Items]
Interest rate						9.20%
Xiamen Asset Management Co Ltd [Member] \| Maximum [Member]
Interest-Bearing Borrowings (Details) [Line Items]
Interest rate						9.50%
Weihai Blue Ocean Bank Co.Ltd. [Member]
Interest-Bearing Borrowings (Details) [Line Items]
Loans principal, interest and financing service fee receivables with carrying amount							¥ 499,991,939
Interest rate							10.00%
Interest payable
Terms of transferred loans overdue							80 days	36 months
Haide Asset Management Co Ltd. [Member]
Interest-Bearing Borrowings (Details) [Line Items]
Loans principal, interest and financing service fee receivables with carrying amount	¥ 200,000,000
Interest rate	10.00%
Amount of long-term funds obtained								¥ 3,413,812
Interest payable								52,684
Terms of transferred loans overdue	90 days
Suzhou Asset Management Co Ltd [Member]
Interest-Bearing Borrowings (Details) [Line Items]
Loans principal, interest and financing service fee receivables with carrying amount					¥ 299,609,168
Interest rate					11.00%
Amount of long-term funds obtained								17,068,259
Interest payable								169,747
Terms of transferred loans overdue					90 days
Guangdong Yueke Asset Management Co., Ltd [Member]
Interest-Bearing Borrowings (Details) [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								9,664,226
Interest payable								130,798
Shenzhen Ruifeng Baoying Asset Management Co., Ltd. [Member]
Interest-Bearing Borrowings (Details) [Line Items]
Loans principal, interest and financing service fee receivables with carrying amount		¥ 500,000,000
Interest rate		8.00%
Amount of long-term funds obtained								400,000,000
Interest payable
Terms of transferred loans overdue		1 year
Wukuang Trust Yangguang Fanhua Plan [Member]
Interest-Bearing Borrowings (Details) [Line Items]
Interest rate								10.24%
Principal payment								¥ 9,343,996,000,000

Interest-Bearing Borrowings (_2

Interest-Bearing Borrowings (Details) - Schedule of borrowings under agreements to repurchase - CNY (¥)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Interest-Bearing Borrowings (Details) - Schedule of borrowings under agreements to repurchase [Line Items]
Gross obligations under repurchase agreements	¥ 508,576,882	¥ 870,778,215
Funds obtained from private investment funds [Member]
Interest-Bearing Borrowings (Details) - Schedule of borrowings under agreements to repurchase [Line Items]
Term	Less than 1 year
Gross obligations under repurchase agreements		275,930,000
Funds obtained from private investment funds [Member] \| Minimum [Member]
Interest-Bearing Borrowings (Details) - Schedule of borrowings under agreements to repurchase [Line Items]
Fixed interest rate per annum	15.00%
Funds obtained from private investment funds [Member] \| Maximum [Member]
Interest-Bearing Borrowings (Details) - Schedule of borrowings under agreements to repurchase [Line Items]
Fixed interest rate per annum	16.00%
Funds obtained from financial institution [Member]
Interest-Bearing Borrowings (Details) - Schedule of borrowings under agreements to repurchase [Line Items]
Term	Within 4 years
Gross obligations under repurchase agreements	¥ 507,620,299	589,103,161
Funds obtained from financial institution [Member] \| Minimum [Member]
Interest-Bearing Borrowings (Details) - Schedule of borrowings under agreements to repurchase [Line Items]
Fixed interest rate per annum	8.00%
Funds obtained from financial institution [Member] \| Maximum [Member]
Interest-Bearing Borrowings (Details) - Schedule of borrowings under agreements to repurchase [Line Items]
Fixed interest rate per annum	13.20%
Interest payable financial institution [Member]
Interest-Bearing Borrowings (Details) - Schedule of borrowings under agreements to repurchase [Line Items]
Gross obligations under repurchase agreements	¥ 956,583	¥ 5,745,054

Interest-Bearing Borrowings (_3

Interest-Bearing Borrowings (Details) - Schedule of underlying collateral types of the gross obligations under repurchase agreements - CNY (¥)	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Gross obligations under repurchase agreements	¥ 508,576,882	¥ 870,778,215
Rights to earnings in the Group’s subordinated tranches of consolidated VIEs [Member]
Segment Reporting Information [Line Items]
Gross obligations under repurchase agreements	400,000,000	275,930,000
Loans principal, interest and financing service fee receivables [Member]
Segment Reporting Information [Line Items]
Gross obligations under repurchase agreements	¥ 108,576,882	¥ 594,848,215

Interest-Bearing Borrowings (_4

Interest-Bearing Borrowings (Details) - Schedule of contractual maturities of the gross obligations under repurchase agreements - CNY (¥)	Dec. 31, 2020	Dec. 31, 2019
Assets Sold under Agreements to Repurchase [Line Items]
Gross obligations under repurchase agreements	¥ 508,576,882	¥ 870,778,215
Overnight [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Gross obligations under repurchase agreements
Up to 30 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Gross obligations under repurchase agreements	37,871,851	684,791,408
30 to 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Gross obligations under repurchase agreements	111,761,847	115,136,807
Greater than 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Gross obligations under repurchase agreements	¥ 358,943,184	¥ 70,850,000

Interest-Bearing Borrowings (_5

Interest-Bearing Borrowings (Details) - Schedule of other borrowings - CNY (¥)		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Interest payable to
Other borrowings		¥ 5,649,669,343	¥ 6,652,138,315
Minimum [Member]
Interest-Bearing Borrowings (Details) - Schedule of other borrowings [Line Items]
Fixed interest rate per annum		7.00%
Long-term:
Fixed interest rate per annum		7.00%
Maximum [Member]
Interest-Bearing Borrowings (Details) - Schedule of other borrowings [Line Items]
Fixed interest rate per annum		12.70%
Long-term:
Fixed interest rate per annum		12.70%
Investors of consolidated VIEs [Member]
Long-term:
Long-term		¥ 2,088,565,691
Investors of consolidated VIEs [Member] \| Short-term [Member]
Interest-Bearing Borrowings (Details) - Schedule of other borrowings [Line Items]
Term	[1]	Less than 1 year
Short-term	[1]	¥ 3,491,862,448	4,505,914,751
Long-term:
Term	[1]	Less than 1 year
Investors of consolidated VIEs [Member] \| Long-term [Member]
Interest-Bearing Borrowings (Details) - Schedule of other borrowings [Line Items]
Term	[1]	Within 5 years
Long-term:
Term	[1]	Within 5 years
Long-term	[1]	¥ 2,088,565,691	2,056,035,701
Investors of consolidated VIEs [Member] \| Interest payable to [Member]
Interest payable to
Other borrowings	[1]	¥ 59,897,208	52,640,336
Investors of consolidated VIEs [Member] \| Minimum [Member] \| Short-term [Member]
Interest-Bearing Borrowings (Details) - Schedule of other borrowings [Line Items]
Fixed interest rate per annum	[1]	7.00%
Long-term:
Fixed interest rate per annum	[1]	7.00%
Investors of consolidated VIEs [Member] \| Minimum [Member] \| Long-term [Member]
Interest-Bearing Borrowings (Details) - Schedule of other borrowings [Line Items]
Fixed interest rate per annum	[1]	7.20%
Long-term:
Fixed interest rate per annum	[1]	7.20%
Investors of consolidated VIEs [Member] \| Maximum [Member] \| Short-term [Member]
Interest-Bearing Borrowings (Details) - Schedule of other borrowings [Line Items]
Fixed interest rate per annum	[1]	12.70%
Long-term:
Fixed interest rate per annum	[1]	12.70%
Investors of consolidated VIEs [Member] \| Maximum [Member] \| Long-term [Member]
Interest-Bearing Borrowings (Details) - Schedule of other borrowings [Line Items]
Fixed interest rate per annum	[1]	12.10%
Long-term:
Fixed interest rate per annum	[1]	12.10%
Senior tranche of trust plan which invests in the Group’s loans portfolio [Member] \| Short-term [Member]
Interest-Bearing Borrowings (Details) - Schedule of other borrowings [Line Items]
Fixed interest rate per annum	[2]	10.24%
Term	[2]	Within 1 year
Short-term	[2]	¥ 9,343,996	¥ 37,547,527
Long-term:
Fixed interest rate per annum	[2]	10.24%
Term	[2]	Within 1 year

[1]	The financial liabilities arising from the VIEs with underlying investments in loans to customers are classified as payable 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. As of December 31, 2020, the borrowings from VIEs have principal RMB5,580,428,139, bearing interests from 7% to 12.7% per year.
[2]	As of December 31, 2020, the borrowings from senior tranche of trust plan which invested in the Group’s loans portfolio are the capitals from senior tranche holders of No.1 Wukuang Trust Yangguang Fanhua Plan with principal RMB9,343,996 million, bearing interests at 10.24% per year.

Interest-Bearing Borrowings (_6

Interest-Bearing Borrowings (Details) - Schedule of aggregate annual maturities of long-term borrowing obligations - Investors of consolidated VIEs [Member]	Dec. 31, 2020CNY (¥)
Interest-Bearing Borrowings (Details) - Schedule of aggregate annual maturities of long-term borrowing obligations [Line Items]
2021
2022	1,081,671,701
2023	463,887,721
2024	34,745,191
2025	508,261,078
Thereafter
Total	¥ 2,088,565,691

Interest-Bearing Borrowings (_7

Interest-Bearing Borrowings (Details) - Schedule of carrying amounts of pledged assets - CNY (¥)	Dec. 31, 2020	Dec. 31, 2019
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged assets	¥ 637,214,327	¥ 2,175,211,273
Rights to earnings in the Group’s subordinated tranches of consolidated VIEs [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged assets	312,080,250	1,369,872,606
Rights to earnings in loans principal, interest and financing service fee receivables [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged assets	32,578,951	92,628,340
Loans principal, interest and financing service fee receivables [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged assets	¥ 292,555,126	¥ 712,710,327

Credit Risk Mitigation Positi_3

Credit Risk Mitigation Position (Details)	Dec. 31, 2020
Minimum [Member]
Credit Risk Mitigation Position (Details) [Line Items]
Securities deposit percentage	10.00%
Maximum [Member]
Credit Risk Mitigation Position (Details) [Line Items]
Securities deposit percentage	25.00%

Credit Risk Mitigation Positi_4

Credit Risk Mitigation Position (Details) - Schedule of credit risk mitigation position - CNY (¥)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Schedule of credit risk mitigation position [Abstract]
Balance at the beginning of the period	¥ 928,702,101
Increase during the period	1,431,323,388	1,288,929,674
Decrease during the period	(1,136,849,732)	(352,306,712)
Confiscation during the period	(13,446,619)	(7,920,861)
Balance at the end of the period	¥ 1,209,729,138	¥ 928,702,101

Other Liabilities (Details) - S

Other Liabilities (Details) - Schedule of other liabilities - CNY (¥)		Dec. 31, 2020	Dec. 31, 2019
Schedule of other liabilities [Abstract]
Guarantee repayments from sales partner	[1]	¥ 126,903,531
Receipt in advance	[2]	121,160,268	118,109,316
Settlement and clearing accounts	[3]	94,287,235	49,175,523
Other tax payables	[4]	74,757,159	86,798,908
Customer pledged deposits	[5]	47,588,065	60,233,291
Collaboration cost payable	[6]	34,713,800	29,191,882
Amounts due to third parties		10,545,062	10,768,698
Accrued expenses	[7]	8,406,812	45,156,653
Others	[8]	5,335,193	5,034,932
Total		¥ 523,697,125	¥ 404,469,203

[1]	Under the collaboration model, sales partners are required to provide a certain level of guarantee of repayment for loans recommended. Guarantee repayments from sales partner mainly consist of repayments collected from sales partners who exercise the guarantee, and those repayments will be returned to trust company.
[2]	Receipt in advance consists 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 for the traditional facilitation model amounted to RMB102,491,426 and RMB 118,078,758 as of December 31, 2019 and 2020.
[3]	The Group transferred loans to third party investors and recorded these transactions as sales in Note 5(c). After the transfer, the contract terms related to payment proceeds from the loans remain the same: The Group collects payments of loans and then disburses the proceeds from the relevant loans to third-party transferees.
[4]	Other tax payables mainly represent value-added tax and surcharges payables.
[5]	Customer pledged deposits mainly consist of the deposits collected from certain customers to reduce the risk of failure to make payments on schedule.
[6]	As mentioned in Note 19, 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 is calculated by subtracting the project cost from interest and fees income received from borrowers.
[7]	Accrued expenses mainly consist of promotional costs relating to building the collaboration model and expenses payable to consultants such as the auditor and lawyer.
[8]	Other liabilities are expected to be settled or recognized as income within one year or are repayable on demand.

Other Liabilities (Details) -_2

Other Liabilities (Details) - Schedule of other liabilities (Parentheticals) - CNY (¥)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Schedule of other liabilities [Abstract]
Down payment	¥ 118,078,758	¥ 102,491,426

Ordinary Shares (Details)

Ordinary Shares (Details)	Nov. 21, 2018shares	Nov. 07, 2018shares	Jul. 11, 2018$ / sharesshares	Jan. 08, 2014HKD ($)$ / sharesshares	Jul. 11, 2018$ / shares
Ordinary Shares (Details) [Line Items]
Authorized share capital value (in Dollars) \| $				$ 380,000
Authorized share capital shares				3,800,000,000
Nominal or par value \| (per share)			$ 0.0001	$ 0.0001
Consideration per share of one subscriber's share allotted and issued (in Dollars per share) \| $ / shares				$ 0.0001
Percentage ordinary shares of one subscriber's share allotted and issued				100.00%
Number of shares repurchased			1,230,434,041
Price per share (in Dollars per share) \| $ / shares					$ 0.0001
Number of shares issued			1,230,434,040
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 (Details) [Line Items]
Number of shares issued		130,000,000
Number of ADS issued		6,500,000
Green Shoes Options [Member]
Ordinary Shares (Details) [Line Items]
Number of shares issued	2,709,200	8,500,000
Number of ADS issued	135,460	425,000
Share price per ADS	USD7.5 per ADS	USD7.5 per ADS

Retained Earnings (Details)

Retained Earnings (Details)	1 Months Ended	12 Months Ended
Retained Earnings (Details)	Mar. 31, 2012	Dec. 31, 2020
Retained Earnings Disclosure [Abstract]
Percentage of gross risk bearing assets	1.50%
Percentage of net income approval by board of directors		10.00%

Retained Earnings (Details) - S

Retained Earnings (Details) - Schedule of retained earnings - CNY (¥)		Dec. 31, 2020	Dec. 31, 2019
Schedule of retained earnings [Abstract]
PRC statutory reserves	[1]	¥ 258,654,052	¥ 258,654,052
PRC surplus reserves	[2]	161,631,825	147,125,493
Unreserved retained earnings		2,338,841,922	2,256,366,104
Total		¥ 2,759,127,799	¥ 2,662,145,649

[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.

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Losses (Details) - Schedule of accumulated Other Comprehensive Losses - CNY (¥)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Foreign currency translation adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	¥ (2,290,452)	¥ (6,255,637)
Foreign currency translation adjustment	(16,166,094)	3,965,185
Balance	(18,456,546)	(2,290,452)
Unrealized gain on investment securities Before tax amount [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Before tax amount, Balance	228,053	2,252,159
Other comprehensive loss, net Before tax amount	(228,053)	(2,024,106)
Before tax amount		228,053
Unrealized gain on investment securities Income Tax (expense) or benefit [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income Tax (expense) or benefit, Balance	(57,013)	(563,040)
Other comprehensive loss, net Income Tax (expense) or benefit	57,013	506,027
Income Tax (expense) or benefit, Balance		(57,013)
Unrealized gain on investment securities Net-of-tax amount [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	171,040	1,689,119
Other comprehensive loss, net Net-of-tax amount	¥ (171,040)	(1,518,079)
Balance		¥ 171,040

Interest and Financing Servic_3

Interest and Financing Service Fees on Loans (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Interest And Financing Service Fee On Loans [Abstract]
Interest income on loans	¥ 1,812,996,763	¥ 2,906,171,249	¥ 4,150,727,434
Financing service fees on loans	¥ 15,691,147	¥ 47,309,748	¥ 128,092,934

Interest and Financing Servic_4

Interest and Financing Service Fees on Loans (Details) - Schedule of interest and fees income costs	12 Months Ended
	Dec. 31, 2020CNY (¥)
Interest and Financing Service Fees on Loans (Details) - Schedule of interest and fees income costs [Line Items]
Interest and financing service fees on loans	¥ 1,828,687,910
Interests on deposits with banks	16,133,918
Interest expense on interest-bearing borrowings	(731,315,365)
Net interest and fees income	1,113,506,463
Collaboration cost for sales partners	(415,104,428)
Net interest and fees income after collaboration cost	698,402,035
Provision for credit losses	(277,586,423)
Net interest and fees income after provision for credit losses	420,815,612
Traditional Facilitation Model [Member]
Interest and Financing Service Fees on Loans (Details) - Schedule of interest and fees income costs [Line Items]
Interest and financing service fees on loans	695,645,512
Interests on deposits with banks	3,877,845
Interest expense on interest-bearing borrowings	(256,597,312)
Net interest and fees income	442,926,045
Collaboration cost for sales partners
Net interest and fees income after collaboration cost	442,926,045
Provision for credit losses	(130,589,189)
Net interest and fees income after provision for credit losses	312,336,856
Collaboration Model [Member]
Interest and Financing Service Fees on Loans (Details) - Schedule of interest and fees income costs [Line Items]
Interest and financing service fees on loans	1,133,042,398
Interests on deposits with banks	12,256,073
Interest expense on interest-bearing borrowings	(474,718,053)
Net interest and fees income	670,580,418
Collaboration cost for sales partners	(415,104,428)
Net interest and fees income after collaboration cost	255,475,990
Provision for credit losses	(146,997,234)
Net interest and fees income after provision for credit losses	¥ 108,478,756

Collaboration Cost for Sales _2

Collaboration Cost for Sales Partners (Details) - Cost of Sales [Member]	12 Months Ended
	Dec. 31, 2020
Minimum [Member]
Deposit [Line Items]
loans issued to the borrowers, percentages	10.00%
Maximum [Member]
Deposit [Line Items]
loans issued to the borrowers, percentages	25.00%

Realized Gains on Sales of In_2

Realized Gains on Sales of Investments, Net (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Realized Gains Losses On Sales Of Investments Net [Abstract]
Gross realized gains on sales of investments	¥ 20,153,659	¥ 46,126,258	¥ 3,185,026

Net (Losses)_Gains on Sales o_2

Net (Losses)/Gains on Sales of Loans (Details) - CNY (¥)	12 Months Ended
Net (Losses)/Gains on Sales of Loans (Details) - CNY (¥)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Netlossesgains On Sales Of Loans [Abstract]
Net (losses)/gains on sales of loans	¥ 149,631,456	¥ 75,959,140	¥ (16,697,259)

Other Gains, Net (Details)

Other Gains, Net (Details) - CNY (¥)	12 Months Ended
Other Gains, Net (Details) - CNY (¥)	Dec. 31, 2020	Dec. 31, 2019
Other Revenue Disclosure [Abstract]
Net gains on confiscated CRMPs	¥ 13,446,619
Foreign exchange gain (loss)	¥ 5,345,004	¥ 5,992,320

Other Gains, Net (Details) - Sc

Other Gains, Net (Details) - Schedule of other gains, net - CNY (¥)		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of other gains, net [Abstract]
Net gains on confiscated credit risk mitigation positions	[1]	¥ 13,446,619	¥ 7,920,861
Mortgage agency service revenue	[2]	511,500	679,933	4,466,608
Foreign exchange gains/(losses)	[3]	(5,345,004)	647,316	1,836,029
Net loss on disposal of property and equipment		(2,868)	(3,049,896)	(946,244)
Profits and losses from fair value changes		56,773
Others		11,095,033	177,134	(3,242,074)
Total		¥ 19,762,053	¥ 6,375,348	¥ 2,114,319

[1]	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, otherwise the CRMPs deposited by sales partners are confiscated by the Group. Net gains on confiscated CRMPs increased to RMB13,446,619 in 2020.
[2]	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.
[3]	The changes of foreign exchange gain/(loss) are mainly due to exchange rate changes in cash and cash equivalents held by the group, including US dollar account and Hong Kong dollar account. The company recorded a foreign exchange (loss) as RMB5,345,004 in 2020, a decrease of RMB5,992,320 compared with that in 2019. The loss is mainly due to the decrease of the exchange rate between Hong Kong dollar and RMB and the US dollar against RMB.

Other Expenses (Details) - Sche

Other Expenses (Details) - Schedule of other expenses - CNY (¥)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of other expenses [Abstract]
Advertising and promotion expenses	¥ 30,471,983	¥ 45,789,035	¥ 15,323,838
Litigation fees	24,764,412	25,305,057	22,467,468
Consulting fees	14,486,656	16,762,953	9,580,602
Research and development expenses	9,960,607	2,430,338	1,419,878
Office and commute expenses	9,120,261	21,835,262	14,425,608
Attorney fees	8,503,270	23,748,333	5,983,431
Entertainment and travelling expenses	7,010,704	10,905,234	14,237,820
Depreciation and amortization	6,047,226	10,917,300	13,299,246
Directors and officers liability insurance	4,232,722	6,433,824
Communication expenses	2,495,071	2,874,165	2,549,164
Others	6,949,270	15,677,035	14,268,602
Total	¥ 124,042,182	¥ 182,678,536	¥ 113,555,657

Income Tax Expense (Details)

Income Tax Expense (Details) - CNY (¥)	Jan. 01, 2008	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
PRC statutory income tax rate	25.00%	25.00%	25.00%	25.00%
Income tax payable			¥ 78,329,130
Net operating loss carryforwards		¥ 41,772,957
Deferred tax assets net operating loss carryforwards		10,443,239	¥ 6,459,941
Net operating losses subject to expiration in 2024 if not utilized		20,089,976
Net operating losses subject to expiration in 2025 if not utilized		21,682,981
Cumulative amount of temporary difference in respect of investments PRC subsidiaries		¥ 5,236,867,776
Percentage of withholding income tax		10.00%
Amount of unrecognized deferred tax liabilities		¥ 523,686,778

Income Tax Expense (Details) -

Income Tax Expense (Details) - Schedule of income tax expense - CNY (¥)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of income tax expense [Abstract]
Current tax expense	¥ 142,238,819	¥ 182,459,389	¥ 401,913,951
Deferred tax (benefit)/expense	(94,389,779)	3,908,847	(105,085,476)
Total income tax expense	¥ 47,849,040	¥ 186,368,236	¥ 296,828,475

Income Tax Expense (Details) _2

Income Tax Expense (Details) - Schedule of components of the deferred tax assets and liabilities - CNY (¥)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Allowance for loans principal	¥ 299,532,574	¥ 254,945,409
Allowance for interest and financing fee receivables	22,733,700	22,654,969
Net operating loss carry-forwards	10,443,239	6,459,941
Lease liabilities	4,886,125	9,533,485
Other deferred tax assets	1,919,331	1,388,307
Total deferred tax assets	339,514,969	294,982,111
Valuation allowance	(10,443,239)	(6,459,941)	¥ (5,743,768)
Deferred tax assets, net of valuation allowance	329,071,730	288,522,170
Deferred tax liabilities:
Intangible assets	(742,500)	(742,500)
Investment securities		(57,014)
Right-of-use assets	(4,867,131)	(9,533,485)
Loans and other assets	(78,329,130)
Undistributed earnings from structured funds	(565,903,639)	(621,034,296)
Total deferred tax liabilities	¥ (649,842,400)	¥ (631,367,295)

Income Tax Expense (Details) _3

Income Tax Expense (Details) - Schedule of movement of valuation allowance - CNY (¥)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Schedule of movement of valuation allowance [Abstract]
At the beginning of year	¥ 6,459,941	¥ 5,743,768
Current year additions	5,420,745	2,843,639
Current year reversals	(1,374,712)	(2,025,434)
Current year charge-offs	(62,735)	(102,032)
At the end of year	¥ 10,443,239	¥ 6,459,941

Income Tax Expense (Details) _4

Income Tax Expense (Details) - Schedule of income before income tax - CNY (¥)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Expense (Details) - Schedule of income before income tax [Line Items]
Total	¥ 162,701,566	¥ 721,012,178	¥ 1,157,737,186
Cayman Islands [Member]
Income Tax Expense (Details) - Schedule of income before income tax [Line Items]
Total	(2,847,746)	(4,424,505)	(5,671)
BVI [Member]
Income Tax Expense (Details) - Schedule of income before income tax [Line Items]
Total	(22,126)	45,003	161,953
Hong Kong entities [Member]
Income Tax Expense (Details) - Schedule of income before income tax [Line Items]
Total	3,424,910	2,014,052	(77,026)
PRC entities [Member]
Income Tax Expense (Details) - Schedule of income before income tax [Line Items]
Total	¥ 162,146,528	¥ 723,377,628	¥ 1,157,657,930

Income Tax Expense (Details) _5

Income Tax Expense (Details) - Schedule of reconciliation of statutory income tax rate to the effective income tax rate	Jan. 01, 2008	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of reconciliation of statutory income tax rate to the effective income tax rate [Abstract]
PRC statutory income tax rate	25.00%	25.00%	25.00%	25.00%
(Decrease)/increase in effective income tax rate resulting from:
Effect of tax-free income		(8.02%)	(0.06%)	(0.03%)
Effect of non-deductible share option expense		9.54%	0.55%	0.86%
Effect of zero tax rate in foreign countries		0.44%	0.15%	0.00%
Changes in valuation allowance		2.49%	0.11%	(0.59%)
Others		(0.04%)	0.09%	0.42%
Effective income tax rate		29.41%	25.84%	25.66%

Earnings Per Share (Details)

Earnings Per Share (Details) - shares	12 Months Ended
Earnings Per Share (Details) - shares	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Basic weighted average number of common shares outstanding	1,371,643,240	1,371,643,240	1,371,643,240

Earnings Per Share (Details) -

Earnings Per Share (Details) - Schedule of computation of basic and diluted earnings per share - CNY (¥)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of computation of basic and diluted earnings per share [Abstract]
Net income	¥ 114,852,526	¥ 534,643,942	¥ 860,908,711
Basic weighted average number of common shares outstanding	1,371,643,240	1,371,643,240	1,251,608,224
Effect of dilutive share options	¥ 153,589,125	¥ 96,143,147	¥ 137,727,545
Dilutive weighted average number of ordinary shares	1,525,232,365	1,467,786,387	1,389,335,769
Basic earnings per share	¥ 0.08	¥ 0.39	¥ 0.69
Diluted earnings per share	¥ 0.08	¥ 0.36	¥ 0.62

Share-Based Compensation Expe_3

Share-Based Compensation Expenses (Details) - USD ($)	Jan. 03, 2019	Jan. 03, 2018	Jan. 03, 2017	Dec. 31, 2019	Dec. 31, 2018
Share-Based Compensation Expenses (Details) [Line Items]
Contractual life term				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.
Recognized compensation expenses (in Dollars)				$ 62,073,367
Total unrecognized compensation cost (in Dollars)				$ 24,540,633
Weighted average period recognized or expected				1 year 87 days
Share awards granted on January 3, 2017("2018 Option") [Member]
Share-Based Compensation Expenses (Details) [Line Items]
Recognized compensation expenses (in Dollars)	$ 15,886,067	$ 39,715,168
2017 Share Incentive Plan [Member]
Share-Based Compensation Expenses (Details) [Line Items]
Number of shares granting options to purchase (in Shares)			187,933,730
Terms of award			Accordingly, 60%, 20% and 20% of the award options shall vest on December 31, each of the years 2017 to 2019, respectively.
2017 Share Incentive Plan [Member] \| December 31, 2017 [Member]
Share-Based Compensation Expenses (Details) [Line Items]
Percentage of award vesting rights			60.00%
2017 Share Incentive Plan [Member] \| December 31, 2018 [Member]
Share-Based Compensation Expenses (Details) [Line Items]
Percentage of award vesting rights			20.00%
2017 Share Incentive Plan [Member] \| December 31, 2019 [Member]
Share-Based Compensation Expenses (Details) [Line Items]
Percentage of award vesting rights			20.00%
Share Incentive Plan 2018 [Member]
Share-Based Compensation Expenses (Details) [Line Items]
Number of shares granting options to purchase (in Shares)				119,674,780
Terms of award				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.
2019 Option [Member] \| December 31, 2020 [Member]
Share-Based Compensation Expenses (Details) [Line Items]
Percentage of award vesting rights				50.00%
2019 Option [Member] \| December 31, 2021 [Member]
Share-Based Compensation Expenses (Details) [Line Items]
Percentage of award vesting rights				30.00%
2019 Option [Member] \| December 31, 2022 [Member]
Share-Based Compensation Expenses (Details) [Line Items]
Percentage of award vesting rights				20.00%
2018 Option [Member] \| December 31, 2022 [Member]
Share-Based Compensation Expenses (Details) [Line Items]
Risk-free rate expected term					6 years

Share-Based Compensation Expe_4

Share-Based Compensation Expenses (Details) - Schedule of estimated fair value of binomial option pricing model	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Schedule of estimated fair value of binomial option pricing model [Abstract]
Expected volatility	41.52%	40.00%
Expected dividends
Risk-free interest rate	3.12%	3.10%
Expected term (in years)	5 years	5 years
Expected life (in years)	8 years	6 years

Share-Based Compensation Expe_5

Share-Based Compensation Expenses (Details) - Schedule of summary of share option activity - ¥ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share Incentive Plan 2018 [Member]
Share-Based Compensation Expenses (Details) - Schedule of summary of share option activity [Line Items]
Number of shares balance (in Shares)		187,933,730	187,933,730	187,933,730
Weighted average exercise price balance
Weighted average grant date fair value balance		¥ 1.27	¥ 1.27	¥ 1.27
Number of shares granted exercisable (in Shares)		187,933,730	150,346,984	112,760,238
Weighted average exercise price exercisable
Weighted average grant date fair value exercisable		¥ 1.27	¥ 1.27	¥ 1.27
Number of shares granted expected to vest (in Shares)			37,586,746	75,173,492
Weighted average exercise price expected to vest
Weighted average grant date fair value expected to vest			¥ 1.27	¥ 1.27
Number of shares granted (in Shares)				187,933,730
Weighted average exercise price granted
Weighted average grant date fair value granted				¥ 1.27
Number of shares granted exercised (in Shares)
Weighted average exercise price exercised
Weighted average grant date fair value exercised
Number of shares granted surrendered (in Shares)
Weighted average exercise price surrendered
Weighted average grant date fair value surrendered
Share Incentive Plan 2019 [Member]
Share-Based Compensation Expenses (Details) - Schedule of summary of share option activity [Line Items]
Number of shares balance (in Shares)	119,674,780	119,674,780
Weighted average exercise price balance
Weighted average grant date fair value balance	¥ 0.72	¥ 0.72
Number of shares granted exercisable (in Shares)	59,837,390
Weighted average exercise price exercisable
Weighted average grant date fair value exercisable	¥ 0.72
Number of shares granted expected to vest (in Shares)	59,837,390	119,674,780
Weighted average exercise price expected to vest
Weighted average grant date fair value expected to vest	¥ 0.72	¥ 0.72
Number of shares granted (in Shares)		119,674,780
Weighted average exercise price granted
Weighted average grant date fair value granted		¥ 0.72
Number of shares granted exercised (in Shares)
Weighted average exercise price exercised
Weighted average grant date fair value exercised
Number of shares granted surrendered (in Shares)
Weighted average exercise price surrendered
Weighted average grant date fair value surrendered

Share-Based Compensation Expe_6

Share-Based Compensation Expenses (Details) - Schedule of fair value of options and ordinary shares estimated at the dates of option grants	12 Months Ended
	Dec. 31, 2020shares
Options grant on January 3, 2017 [Member]
Share-Based Compensation Expenses (Details) - Schedule of fair value of options and ordinary shares estimated at the dates of option grants [Line Items]
Options granted	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 Expenses (Details) - Schedule of fair value of options and ordinary shares estimated at the dates of option grants [Line Items]
Options granted	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 Expenses (Details) - Schedule of fair value of options and ordinary shares estimated at the dates of option grants [Line Items]
Options granted	83,772,346
Exercise price	1.00
Fair value of option	0.71
Fair value of ordinary shares	1.40
Second options grant on December 31, 2019 [Member]
Share-Based Compensation Expenses (Details) - Schedule of fair value of options and ordinary shares estimated at the dates of option grants [Line Items]
Options granted	35,902,434
Exercise price	1.00
Fair value of option	0.75
Fair value of ordinary shares	1.40

Material Related Party Transa_2

Material Related Party Transactions (Details) - CNY (¥)	1 Months Ended	12 Months Ended
Material Related Party Transactions (Details) - CNY (¥)	May 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Material Related Party Transactions (Details) [Line Items]
Total interest expense		¥ 731,315,365	¥ 1,309,835,699	¥ 1,943,059,522
Amount of interest expense generated from borrowings				610,405
Fanhua Inc and Its Subsidiaries [Member]
Material Related Party Transactions (Details) [Line Items]
Percentage of equity interests owns of CISG Holdings Limited		100.00%
Fanhua Inc and Its Subsidiaries [Member] \| Jinghua Structure Fund Twenty Seven [Member]
Material Related Party Transactions (Details) [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
Board of Directors Chairman [Member]
Material Related Party Transactions (Details) [Line Items]
Loan agreement as lender					¥ 5,010,800
Interest rate					0.02%

Operating Leases (Details)

Operating Leases (Details)	12 Months Ended
Operating Leases (Details)	Dec. 31, 2020
Disclosure Text Block [Abstract]
Non-cancelable operating leases, description	The Group leases multiple office spaces which are contracted under various non-cancelable operating leases, most of 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 determines 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.

Operating Leases (Details) - Sc

Operating Leases (Details) - Schedule of operating lease cost and other supplemental information - CNY (¥)		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of operating lease cost and other supplemental information [Abstract]
Operating lease cost	[1]	¥ 21,719,042	¥ 36,607,623	¥ 58,317,758
Weighted-average remaining lease term		1 year 73 days	2 years
Weighted-average discount rate		4.73%	4.75%
Cash paid for amounts included in the measurement of lease liabilities under operating cash flows		¥ 18,327,069	¥ 39,195,151
ROU assets obtained in exchange for new operating lease liabilities		¥ 19,468,523	¥ 38,133,941

[1]	Amounts include short-term leases that are immaterial.

Operating Leases (Details) - _2

Operating Leases (Details) - Schedule of reconciliation to the lease liabilities	Dec. 31, 2020CNY (¥)
Schedule of reconciliation to the lease liabilities [Abstract]
2021	¥ 14,245,045
2022	5,210,201
2023	700,106
2024	219,038
2025
Thereafter
Total future operating lease payments	20,374,390
Less: imputed interest	(829,891)
Total present value of operating lease liabilities	¥ 19,544,499

Condensed Financial Informati_3

Condensed Financial Information of the Parent Company (Details)	Jan. 08, 2014	Dec. 31, 2020
Condensed Financial Information of the Parent Company (Details) [Line Items]
Registered capital, percentage		50.00%
Ordinary share percentage	100%
Cayman Islands [Member]
Condensed Financial Information of the Parent Company (Details) [Line Items]
Ordinary share, description	the Group 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 Group.

Condensed Financial Informati_4

Condensed Financial Information of the Parent Company (Details) - Schedule of condensed balance sheets - Parent Company [Member] - CNY (¥)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Assets
Cash and cash equivalents	¥ 3,315,160	¥ 7,192,877	¥ 319,807,618
Investments in subsidiaries	392,559,403	392,559,403
Other assets	296,210,723	316,693,899
Total assets	692,085,286	716,446,179
Liabilities and shareholders’ equity
Accrued employee benefits	97,555	418,572
Other operating liabilities	10,508,460	10,988,499
Total liabilities	10,606,015	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, 2019 and December 31, 2020)	916,743	916,743
Additional paid-in capital	705,422,445	705,422,445
Retained earnings	(7,277,923)	(4,430,177)
Accumulated other comprehensive income: Foreign currency translation adjustment	(17,581,994)	3,130,097
Total shareholders’ equity	681,479,271	705,039,108
Total liabilities and shareholders’ equity	¥ 692,085,286	¥ 716,446,179

Condensed Financial Informati_5

Condensed Financial Information of the Parent Company (Details) - Schedule of condensed balance sheets (Parentheticals) - Parent Company [Member] - $ / shares	Dec. 31, 2020	Dec. 31, 2019
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)	$ 0.0001	$ 0.0001
Common stock, shares issued	1,371,643,240	1,371,643,240

Condensed Financial Informati_6

Condensed Financial Information of the Parent Company (Details) - Schedule of condensed statements of comprehensive income - Parent Company [Member] - CNY (¥)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Condensed Statement of Income Captions [Line Items]
Interest on deposits with banks	¥ 5,713	¥ 426,672
Total interest and fees income	5,713	426,672
Other revenue		3,353,216
Total non-interest income		3,353,216
Total Revenue	5,713	3,779,888
Employee compensation and benefits	(397,404)	(660,018)
Other expenses	(2,456,055)	(7,544,375)
Total operating expenses	(2,853,459)	(8,204,393)
Income before income tax	(2,847,746)	(4,424,505)
Income tax expense
Net loss	(2,847,746)	(4,424,505)
Foreign currency translation adjustment	(20,712,092)	5,255,576
Comprehensive (losses)/income	¥ (23,559,838)	¥ 831,071

Condensed Financial Informati_7

Condensed Financial Information of the Parent Company (Details) - Schedule of condensed statements of cash flows - Parent [Member] - CNY (¥)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net loss	¥ (2,847,746)	¥ (4,424,505)
Other operating assets	20,483,176	(316,693,899)
Other operating liabilities	(801,055)	3,248,087
Net cash provided by operating activities	16,834,375	(317,870,317)
Net increase in cash and cash equivalents	16,834,375	(317,870,317)
Cash and cash equivalents at the beginning of year	7,192,877	319,807,618
Effect of exchange rate change on cash and cash equivalents	(20,712,092)	5,255,576
Cash and cash equivalents at the end of year	¥ 3,315,160	¥ 7,192,877