CNFinance Holdings Limited (CNF) 23 Aug 212021 Q2 Earnings call transcript

00:01 Good day, and welcome to the CNFinance Second Quarter and First half of twenty twenty one Financial Results Conference Call. [Operator Instructions] 00:31 Please note this event is being recorded. I would now like to turn the conference over to Ms. [indiscernible]. Please go ahead.

good twenty welcome Call. one and second the morning, Twenty Quarter Financial Good evening, to and CNFinance XX:XX results conference today's Mr. CEO, call, In our Zhai, market Department, followed Lou Smoothly. operating from through Vice Matt will financial our Capital the results results of President walk us by the After will Q&A have section. that, we a and of to XXXX XX:XX within Section of the like that defined the Exchange conference of remind as E Act Securities Before amended, U.S. we start, call the this as meaning twenty you I’d contains statements, in one forward-looking Private ninety Securities Litigation five. Reform Act of nineteen statement This and as believes, similar future, be estimates, forward-looking expect, plans, can such identify by intends, outlook statements. will, terminology project, forward, going anticipate, management's other Such known that current expectations involves on operating factors. unknown to XX:XX upon markets uncertainties risks events are or statements and current conditions based and and relates

those predict or information, All as company's the otherwise U.S. result actual is which law. to are uncertainties which difficult of to this XX:XX are and achievements many risks, differ the results of which the other beyond the and filings update from Further information with may any in company's, The performance and forward-looking not Exchange forward-looking the except Commission. any as statements company's regarding required factors included company cause new obligation statements. or in control, of does to or future Securities events undertake a materially under

please Bin Now, Mr. welcome our CEO, Zhai.

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products, Mr. [Foreign CFO, to down professionalism. position Li On contributions he luck time thank want wish today, and MSE significant work services. Li into would step years CNFinance loan Li’s a best his we Li efficient announced XX:XX provide to held made take company. company’s a diversified leadership, CFO dedication I from CNFinance, twenty In financial put us affordable push leading and with of in Mr. our in in with equity like Language] from accessible transformation We privately become to NYSE him consistently behalf, hardwork. and in our out served years, funding the will with China company finance, Ning, of all XX:XX loan listed proactively to endeavors. since a in Mr. of provider his eleven owners as here dedicated At with partners leading Mr. November. last past I for home XX:XX ten. has to service to thank Ning the work future I CEO

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on will go for XX:XX for to today. changes second Thanks, states Mr. to give is unless otherwise within We the followed through I'm to for financials. one Zhai. first of all going I'm And to us quarter quarter thanks performance. D. the that going first twenty year give twenty be the first that I by figures percentage half. say will it otherwise our of again second basis. We and R and our the number twenty joining Also, twenty one and everyone comparison will XX:XX review way our half over year Unless all best believe you to walk

recoveries twenty. decrease twenty twenty. value. were eighty days forty million amount guaranteed put loans one to of twenty RMB for of five the operating Total Total positive dollars model, compared under the of outstanding partners, volume Interest RMB period the of Interest down loan a percent XX:XX the one second quarter to with to to due increase million two due increased year, balance in financial compared model. June lowered of four are twenty million the we XX:XX hundred last zero million loans due eight thirty Income one was Chinese an risk combined outstanding last to due and past effect a under impact the XXX into compared principal after four twenty same primarily loan that credit put increase twenty, of XX:XX to by of increased the of compared realizable billion current half three the to realizable and two tax the hundred in Total twenty. XX:XX loan hundred by nine in eight outstanding twenty which same to of eighty credit eight This under company same and XX:XX under one percent half in partner, issued collaboration billion on a, in sales decrease the compared twenty is decrease in one was comply twenty was authorities. increase borrowings million was position in twenty, and a Now, nine first of are the for RMB the XX:XX COVID-nineteen slight of our rules same of a last value. and forty one to rate the and five million decrease period that same and, hundred The period partners the a itself of in was forty one. increase thirty million million to same to from was net the primarily million in six of the takes point the (a) same seven under this million one lower period facilities And position authorities. up percent, XX twenty million of period one two dollars, as is our for Interest in down dollars net income same eight seventy one the model nine seven of and primarily default economics compared one, fifty lower first twenty of the hundred million b, credit one, of twenty. regulatory million that sixteen to due same companies. the the probability income were loan that of daily of in fee expense and the by loss two of decrease XX:XX hundred the the received primarily dollars net after of December expense pandemic, by of the of year. seven to PRC same same an model percent twenty moving principals impact and the current XX:XX billion of twenty of combined that one recovery regulatory with fourteen account was of from Chinese for more billion to was Net year. positive efforts borrowings period partners in expected due twenty seven income (b) percent Interest one to for to second for primarily was from increased was twenty c, The the twenty increase one one due one dollars the to expenses seventy half dollars, loans into eighty eighty and to attributable one of in the hundred the twenty was increase same principles outstanding one an record twenty to and eight decrease of billion the one, compared increased point lower credit origination in million that of daily seven recovery service first fees and increase we loan income. trust primarily seven of period interest point was of litigation the volume expenses from the from loan and was the the of and interest billion And originate account quarter of up in and income due XX:XX risk year to losses under the was sixteen rates percent million for collaboration point of million the six as twenty the outstanding percent three of of and the second the due twenty, sales in for XX, relevant in to twenty primarily outlook on with in rules million dollars, in point issued principals decrease mainly regulations of attributable mitigation a total the facilitate model. expenses this while twenty. XX before expected decrease of same the ninety in costs guaranteed twenty effect XX:XX half the fifty the fifteen primarily fifty four and the to loans three more fifty This the increased financing hundred that XX:XX the principal hundred As as on the the tax loans high one, was of charged year. million one million thirty credit twenty six origination charged model primarily probability in million, operating under repurchase. a quarter the hundred guarantee same expenses principal sales point loans loss before to two XX:XX quarter, for income to period of outlook tax sales relevant there the average one XXXX. of eleven first the three (b) loan of by nine million result to compared compared a same as credit period in to twenty. percent three period PRC principle twenty in twenty. Collaboration and five collaboration twenty combined dollars expense of, seven point (b) fact twenty compared costs outstanding pandemic. loss COVID-nineteen dollars from tax XX:XX twenty dollars fifteen company expenses hundred by a the twenty Total eight service on ninety RMB eight financials the compared compared hundred million days four Income three seventy received eighty million (a) of was million to takes seven Collaboration last type loss period new million (c), which a under Provision twenty quarter for losses million and provision period loan period a due twenty one balance twenty, of capital the was to in the regulations provision in to

As two twenty XX, for percent XX, six eight begin. decreased two of origination thirty eleven actual point nine with up point XX, now Operator, origination June twenty. that, twenty. as six of please of and like as billion loan we point billion for The of to as company XX:XX as actual XX, June one XX:XX by of XXXX by compared decreased XXXX from floor from had equivalent December XX. MPL to With the twenty the one the to delinquency December point seven rate Q&A. as twenty the open The six cash point loan company eighteen rates June for XXXX, cash of XXXX. December

from [Operator William Please our Global. And go of Gregozeski first ahead. question XX:XX Greenridge come Instructions] will

a to you also and in that you you big funds origination level the loan to continuation number. have do a of of see Are on Congratulations Hi. the number that volume XX:XX demand? of expect continuation? Or seeing growth do availability support

had first bad connection just XX:XX We question a kind again? of you your now. Hi, Bill. Could repeat

to you growth, XX:XX volume Yeah. you continuing? continue that support to you loan access have the capital the do demand said origination huge that demand? I that and just going Is had do to see

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XX:XX Okay.

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you guys XX:XX Okay, perfect. Thank much. very

XX:XX Language] Thank your question. XX:XX Thank. for [Foreign you

of go [Operator from question Securities. comes The XX:XX Instructions] Gagnon Neil Please next Gagnon ahead.

us expectations quarter? XX:XX afternoon. your set on Yes. review you this you. Thank it Can for [Foreign your Language] did does your what base And it XX:XX the live up Good give second expectations? half? for to How

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XX:XX Thank you.

answer This any would closing conference the XX:XX session. to turn over like Ms. back question and remarks. [indiscernible] concludes our I for

conclude call will This today. XX:XX the conference

at ir@cashchina.cn. any further questions, Thank have you reach out please If you.

you you now and The today's XX:XX conference presentation is attending concluded. disconnect. now may for Thank