CNFinance Holdings Limited Announces Board Changes

DigitalCFO Newsroom | 12 January 2022

CNFinance Holdings Limited, a leading home equity loan service provider in China, today announced the retirement of Mr. Paul Wolansky from the Board of Directors, effective on January 11, 2022.

CNFinance Holdings Limited, a leading home equity loan service provider in China, today announced the retirement of Mr. Paul Wolansky from the Board of Directors, effective on January 11, 2022. Mr. Wolansky has served as a Director of the Company since 2001. At the same time, the Company has appointed Mr. Jun Qian as a Director of the Company, effective on January 11, 2022.

Mr. Jun Qian joined the Company in 2001 and has served as the Vice President of CNFinance since 2010. Mr. Qian has over 20 years of experience in China’s loan industry and has served in the Company’s senior management team for more than 15 years.

“On behalf of CNFinance, I would like to thank Mr. Wolansky for his services.” said Mr. Bin Zhai, Chairman and CEO of the Company. “He has shown his dedication and professionalism during his tenure. His contribution to the Company is greatly appreciated and I wish him the best of luck with his future endeavors. At the same time, we are pleased to welcome Mr. Qian to the Board of Directors. I have worked with Mr. Qian for more than a decade. His extensive industry experience and management skills will be highly valuable to the Company.”

About CNFinance Holdings Limited

CNFinance Holdings Limited is a leading home equity loan service provider in China. CNFinance conducts business by collaborating with sales partners and trust company partners. Sales partners are responsible for recommending micro-and small-enterprise (“MSE”) owners with financing needs to the Company and the Company introduces eligible borrowers to its trust company partners who will then conduct their own risk assessments and make credit decisions.

The Company’s primary target borrower segment is MSE owners who own real properties in Tier 1 and Tier 2 cities in China. The loans CNFinance facilitated are primarily funded through a trust lending model with its trust company partners who are well-established with sufficient funding sources and have licenses to engage in lending business nationwide. The Company’s risk mitigation mechanism is embedded in the design of its loan products, supported by an integrated online and offline process focusing on risks of both borrowers and collateral and further enhanced by effective post-loan management procedures.