CNFinance Holdings Limited (CNF) Balance Sheet

NYSE: CNFAssets, liabilities, debt and equity over 10 years.

CNF balance sheet, 2025

December 31, 2025 · Chinese yuan

CN¥10.26B assets = CN¥6.67B liabilities + CN¥3.58B equity

Both columns are drawn to the same scale: what CNF owns equals what it owes plus shareholders’ equity. Hover a block for its value.

CNF financial health

Current ratio0.46

Tight · current assets cover current liabilities 0.46×

Debt / equity1.18

Moderate leverage · CN¥1.18 of debt for each $1 of equity

Equity / assets34.9%

Balanced · of assets funded by shareholders

Cash / debt19.5%

Low cash cover · cash & short-term investments vs total debt

Goodwill & intangibles0.0%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

CNF balance sheet trends, 2016–2025

CNFinance Holdings Limited balance sheet trends
Metric	Then	Latest	Change
Total assets	CN¥7.81B2016	CN¥10.26B2025	+3.1%/yr
Total liabilities	CN¥6.69B2016	CN¥6.67B2025	−0.0%/yr
Shareholders’ equity	CN¥1.12B2016	CN¥3.58B2025	+13.8%/yr
Cash & short-term investments	CN¥347.6M2016	CN¥820.3M2025	+10.0%/yr
Total debt	CN¥6.33B2016	CN¥4.22B2025	−4.4%/yr
Net cash (debt)	−CN¥5.98B2016	−CN¥3.40B2025	+CN¥2.6B
Working capital	−CN¥5.61B2016	−CN¥1.79B2025	+CN¥3.8B
Current ratio	0.072016	0.462025	+0.40
Debt / equity	5.652016	1.182025	−4.48
Shares outstanding	68.0M2016	343K2025	−44.4%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

CNF assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

CNF liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

CNF debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

CNF balance sheet in Chinese yuan

CNFinance Holdings Limited annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash & short-term investments	CN¥820.3M	CN¥1.79B	CN¥2.70B	CN¥16.40T	CN¥3.48B	CN¥2.49B	CN¥2.49B	CN¥4.02B	CN¥1.70B	CN¥347.6M
Cash & equivalents	CN¥791.9M	CN¥1.76B	CN¥2.55B	CN¥1.92B	CN¥2.39B	CN¥2.07B	CN¥1.84B	CN¥3.34B	CN¥1.34B	CN¥284.7M
Short-term investments	CN¥28.4M	CN¥38.7M	CN¥146.5M	CN¥11.32T	CN¥1.09B	CN¥418.1M	CN¥654.3M	CN¥682.3M	CN¥360.2M	CN¥62.9M
Receivables	CN¥82.5M	CN¥1.00B	CN¥572.2M	CN¥282.6M	CN¥272.1M	CN¥37.6M	CN¥66.4M	CN¥46.6M	CN¥62.4M	CN¥43.9M
Inventory	CN¥0	CN¥0	CN¥278.3M	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Other current assets	CN¥622.7M	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Total current assets	CN¥1.53B	CN¥1.79B	CN¥3.55B	CN¥16.40T	CN¥3.75B	CN¥2.53B	CN¥2.56B	CN¥4.07B	CN¥1.76B	CN¥391.5M
Property, plant & equipment (net)	CN¥189.6M	CN¥212.5M	CN¥36.0M	CN¥32.1M	CN¥19.2M	CN¥24.2M	CN¥47.3M	CN¥19.2M	CN¥22.5M	CN¥18.7M
Goodwill & intangible assets	CN¥0	CN¥3.1M	CN¥3.0M	CN¥3.5M	CN¥4.0M	CN¥3.2M	CN¥3.7M	CN¥4.2M	CN¥3.3M	CN¥3.0M
Long-term investments	CN¥273.4M	CN¥280.1M	CN¥452.1M	CN¥518.6M	CN¥1.09B	CN¥418.1M	CN¥688.3M	CN¥722.3M	CN¥400.2M	CN¥134.0M
Other non-current assets	CN¥8.27B	CN¥12.74B	CN¥12.33B	CN¥0	CN¥9.55B	CN¥9.23B	CN¥10.00B	CN¥14.54B	CN¥16.03B	CN¥7.26B
Total assets	CN¥10.26B	CN¥15.03B	CN¥16.36B	CN¥14.48B	CN¥14.41B	CN¥12.20B	CN¥13.30B	CN¥19.35B	CN¥18.22B	CN¥7.81B
Liabilities
Accounts payable	—	—	—	—	—	—	—	CN¥0	CN¥10.97B	CN¥1.26B
Short-term debt	CN¥3.31B	CN¥5.35B	CN¥7.11B	CN¥112.6M	CN¥45.2M	CN¥508.6M	CN¥870.8M	CN¥4.21B	CN¥3.51B	CN¥141.7M
Total current liabilities	CN¥3.31B	CN¥7.08B	CN¥7.16B	CN¥123.1M	CN¥154.96T	CN¥154.81B	CN¥136.93T	CN¥689.42T	CN¥12.59B	CN¥6.00B
Long-term debt	CN¥218.7M	CN¥5.93B	CN¥8.24B	CN¥7.73B	CN¥8.04B	CN¥5.65B	CN¥6.65B	CN¥11.11B	CN¥12.20B	CN¥6.18B
Lease obligations	CN¥12.2M	CN¥21.4M	CN¥26.1M	CN¥28.6M	CN¥15.5M	CN¥19.5M	CN¥38.1M	CN¥0	CN¥0	CN¥0
Other long-term liabilities	CN¥3.14B	CN¥0	CN¥0	CN¥138.0M	CN¥258.5M	CN¥218.3M	CN¥166.6M	CN¥5.20B	CN¥4.19B	CN¥503.8M
Total liabilities	CN¥6.67B	CN¥10.97B	CN¥12.36B	CN¥7.87B	CN¥8.30B	CN¥5.87B	CN¥6.82B	CN¥16.31B	CN¥16.38B	CN¥6.69B
Shareholders' equity
Common stock & paid-in capital	CN¥917,324	CN¥916,743	CN¥916,743	CN¥917,000	CN¥917,000	CN¥917,000	CN¥917,000	CN¥917,000	CN¥0	CN¥0
Retained earnings (deficit)	CN¥2.67B	CN¥3.14B	CN¥3.10B	CN¥2.96B	CN¥2.82B	CN¥2.76B	CN¥2.66B	CN¥2.13B	CN¥1.27B	CN¥733.9M
Treasury stock	—	—	—	—	—	—	—	CN¥0	CN¥0	CN¥0
Accumulated other comprehensive income	−CN¥13.6M	−CN¥8.8M	−CN¥9.3M	−CN¥10.2M	−CN¥25.4M	−CN¥18.5M	−CN¥2.1M	−CN¥4.6M	−CN¥4.5M	−CN¥1.7M
Minority interest	CN¥0	CN¥0	CN¥0	CN¥51.7M	—	—	—	CN¥0	CN¥0	CN¥0
Total shareholders' equity	CN¥3.58B	CN¥4.06B	CN¥4.01B	CN¥6.62B	CN¥6.11B	CN¥6.34B	CN¥6.48B	CN¥3.05B	CN¥1.83B	CN¥1.12B
Key figures
Total debt	CN¥4.22B	CN¥5.95B	CN¥8.96B	CN¥7.84B	CN¥8.09B	CN¥6.16B	CN¥7.52B	CN¥15.32B	CN¥15.71B	CN¥6.33B
Net cash (debt)	−CN¥3.40B	−CN¥4.16B	−CN¥6.26B	CN¥16.39T	−CN¥4.61B	−CN¥3.67B	−CN¥5.03B	−CN¥11.30B	−CN¥14.01B	−CN¥5.98B
Working capital	−CN¥1.79B	−CN¥5.28B	−CN¥3.61B	CN¥16.40T	−CN¥154.95T	−CN¥152.28B	−CN¥136.93T	−CN¥689.41T	−CN¥10.83B	−CN¥5.61B
Tangible book value	CN¥3.58B	CN¥4.05B	CN¥4.01B	CN¥6.61B	CN¥6.11B	CN¥6.33B	CN¥6.48B	CN¥3.04B	CN¥1.83B	CN¥1.12B
Shares outstanding	343K	3.4M	3.6M	76.4M	76.3M	76.3M	73.4M	69.5M	68.0M	68.0M
Current ratio	0.46	0.25	0.50	133,216.00	0.00	0.02	0.00	0.00	0.14	0.07
Quick ratio	0.27	0.40	0.46	133,218.30	0.00	0.02	0.00	0.00	0.14	0.07
Debt / equity	1.18	1.47	2.23	1.18	1.32	0.97	1.16	5.03	8.58	5.65
Equity / assets	34.9%	27.0%	24.5%	45.7%	42.4%	51.9%	48.7%	15.7%	10.1%	14.3%

CNFinance Holdings Limited quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	CN¥336.6M	CN¥820.3M	CN¥820.3M	CN¥338.2M	CN¥922.3M	CN¥1.79B	CN¥1.17B	CN¥1.79B	CN¥1.61B	CN¥2.00B	CN¥1.96B
Cash & equivalents	CN¥252.3M	CN¥252.3M	CN¥791.9M	CN¥338.2M	CN¥922.3M	CN¥809.5M	CN¥1.17B	CN¥1.79B	CN¥1.61B	CN¥2.00B	CN¥1.96B
Short-term investments	—	CN¥28.4M	CN¥28.4M	—	—	CN¥38.7M	—	—	CN¥146.5M	CN¥146.5M	—
Receivables	CN¥0	CN¥82.5M	CN¥82.5M	CN¥0	CN¥0	CN¥1.00B	CN¥0	CN¥0	CN¥572.2M	CN¥340.4M	CN¥8.19B
Inventory	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥278.3M	CN¥0	CN¥0
Other current assets	—	CN¥82.4M	—	—	CN¥0	CN¥0	—	CN¥0	CN¥0	CN¥0	CN¥0
Total current assets	—	CN¥985.2M	—	—	CN¥922.3M	CN¥1.79B	—	CN¥1.79B	CN¥1.61B	CN¥2.00B	CN¥1.96B
Property, plant & equipment (net)	CN¥187.5M	CN¥187.5M	CN¥189.5M	CN¥189.5M	CN¥195.3M	CN¥195.3M	CN¥212.5M	CN¥212.9M	CN¥212.9M	CN¥36.0M	CN¥33.3M
Goodwill & intangible assets	CN¥0	CN¥0	CN¥0	CN¥0	CN¥3.1M	CN¥3.1M	CN¥3.1M	CN¥3.0M	CN¥3.0M	CN¥3.0M	CN¥3.1M
Long-term investments	CN¥277.4M	CN¥0	CN¥273.4M	CN¥0	CN¥326.6M	CN¥0	CN¥0	CN¥320.7M	CN¥0	CN¥452.1M	CN¥597.7M
Other non-current assets	CN¥8.66B	CN¥7.95B	CN¥9.79B	CN¥10.06B	CN¥11.07B	CN¥10.53B	CN¥14.81B	CN¥14.96B	CN¥15.45B	CN¥13.85B	CN¥12.65B
Total assets	CN¥9.12B	CN¥9.12B	CN¥10.25B	CN¥10.25B	CN¥12.52B	CN¥12.52B	CN¥15.03B	CN¥17.28B	CN¥17.28B	CN¥16.35B	CN¥15.24B
Liabilities
Short-term debt	CN¥2.62B	CN¥3.22B	—	—	CN¥2.23B	CN¥5.35B	—	CN¥1.21B	CN¥7.11B	—	CN¥509.1M
Total current liabilities	—	CN¥3.58B	—	—	CN¥2.23B	CN¥7.08B	—	CN¥1.21B	−CN¥16.5M	CN¥25.7M	CN¥509.1M
Long-term debt	CN¥402.6M	CN¥0	CN¥218.7M	CN¥0	CN¥3.08B	CN¥0	CN¥0	CN¥8.32B	CN¥0	CN¥8.24B	CN¥7.17B
Lease obligations	CN¥12.2M	—	CN¥12.2M	—	CN¥12.2M	—	—	CN¥21.5M	—	CN¥26.1M	CN¥29.4M
Other long-term liabilities	CN¥5.54B	CN¥5.95B	—	CN¥6.67B	CN¥3.19B	CN¥8.49B	CN¥10.97B	CN¥3.69B	CN¥13.22B	CN¥4.07B	CN¥3.41B
Total liabilities	CN¥5.95B	CN¥5.95B	CN¥6.67B	CN¥6.67B	CN¥8.49B	CN¥8.49B	CN¥10.97B	CN¥13.22B	CN¥13.22B	CN¥12.34B	CN¥11.09B
Shareholders' equity
Common stock & paid-in capital	CN¥2.3M	CN¥2.3M	—	CN¥916,743	CN¥917,000	CN¥917,000	CN¥916,743	CN¥917,000	CN¥917,000	CN¥917,000	CN¥917,000
Retained earnings (deficit)	CN¥2.27B	CN¥2.27B	CN¥2.67B	CN¥2.67B	CN¥3.11B	CN¥3.11B	CN¥3.14B	CN¥3.15B	CN¥3.15B	CN¥3.10B	CN¥3.09B
Accumulated other comprehensive income	−CN¥21.6M	−CN¥21.6M	—	−CN¥13.6M	−CN¥8.0M	−CN¥8.0M	−CN¥8.8M	−CN¥3.4M	−CN¥3.4M	−CN¥9.3M	−CN¥812,000
Minority interest	—	—	CN¥0	—	—	—	—	—	—	—	—
Total shareholders' equity	CN¥3.17B	CN¥3.17B	CN¥3.58B	CN¥3.58B	CN¥4.03B	CN¥4.03B	CN¥4.06B	CN¥4.06B	CN¥4.06B	CN¥4.01B	CN¥4.00B
Key figures
Total debt	CN¥3.03B	CN¥402.6M	CN¥218.7M	CN¥218.7M	CN¥5.31B	CN¥3.08B	CN¥578.4M	CN¥9.55B	CN¥8.32B	CN¥8.22B	CN¥7.71B
Net cash (debt)	−CN¥2.69B	CN¥417.7M	CN¥601.6M	CN¥119.5M	−CN¥4.39B	−CN¥1.28B	CN¥592.0M	−CN¥7.76B	−CN¥6.70B	−CN¥6.22B	−CN¥5.74B
Working capital	—	−CN¥2.60B	—	—	−CN¥1.30B	−CN¥5.28B	—	CN¥576.0M	CN¥1.63B	CN¥1.98B	CN¥1.46B
Tangible book value	CN¥3.17B	CN¥3.17B	CN¥3.58B	CN¥3.58B	CN¥4.03B	CN¥4.03B	CN¥4.05B	CN¥4.06B	CN¥4.06B	CN¥4.01B	CN¥4.00B
Shares outstanding	5.0M	5.0M	1.37B	349K	336K	336K	386K	3.0M	3.0M	92.5M	3.3M
Current ratio	—	0.27	—	—	0.41	0.25	—	1.48	—	78.00	3.86
Quick ratio	—	0.25	—	—	0.41	0.40	—	1.48	—	91.26	19.94
Debt / equity	0.95	0.13	0.06	0.06	1.32	0.76	0.14	2.35	2.05	2.05	1.92
Equity / assets	34.8%	34.8%	34.9%	34.9%	32.2%	32.2%	27.0%	23.5%	23.5%	24.5%	26.3%

Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported (latest annual report filed April 30, 2026); data from EODHD.

CNF financial position

At the end of fiscal 2025 (December 31, 2025), CNFinance had total assets of CN¥10.3 billion (down 31.8% from a year earlier), total liabilities of CN¥6.7 billion and shareholders' equity of CN¥3.6 billion. It held CN¥820.3 million in cash and short-term investments against CN¥4.2 billion of debt, net debt of CN¥3.4 billion. Its current ratio was 0.46. In the latest quarter (ended June 30, 2026) total assets were CN¥9.1 billion and equity CN¥3.2 billion.

Related: CNF income statement, CNF cash flow statement, CNF key metrics. See the CNF stock overview for the latest quote and news.

CNF balance sheet FAQ

What are CNFinance's total assets?

CNFinance reported total assets of CN¥10.3 billion at the end of fiscal 2025 (December 31, 2025), compared with CN¥15.0 billion a year earlier.

How much debt does CNFinance have?

CNFinance had CN¥4.2 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.18.

How much cash does CNFinance have?

CNFinance held CN¥820.3 million in cash and short-term investments at the end of fiscal 2025; with CN¥4.2 billion of debt that is net debt of CN¥3.4 billion.

What is CNFinance's book value?

CNFinance's shareholders' equity (book value) was CN¥3.6 billion at the end of fiscal 2025.

What is CNFinance's current ratio?

CNFinance had current assets of CN¥1.5 billion and current liabilities of CN¥3.3 billion, a current ratio of 0.46 (current liabilities exceed current assets).