CNFinance Holdings Limited (CNF) Income Statement
CNF 2025 at a glance
Fiscal year ended December 31, 2025 · Chinese yuanCNF revenue and net income
Where CNF's revenue goes
2025Each bar shows an amount and its share of revenue. CNF kept −73.1% of revenue as net income.
CNF profit margins
CNF growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −60.9% | −30.2% | −19.3% | — |
| Gross profit | −34.3% | −13.5% | −11.9% | — |
| Operating income | −245.5% | — | — | — |
| Net income | −1,311.0% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
CNF income statement in Chinese yuan
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥625.9M | CN¥1.60B | CN¥1.84B | CN¥1.84B | CN¥1.37B | CN¥1.83B | CN¥3.10B | CN¥4.28B | CN¥3.42B | CN¥1.31B |
| Cost of revenue | CN¥81.7M | CN¥771.8M | CN¥841.7M | CN¥1.00B | CN¥471.7M | CN¥808.7M | CN¥1.67B | CN¥2.38B | CN¥1.72B | CN¥554.0M |
| Gross profit | CN¥544.3M | CN¥828.3M | CN¥995.5M | CN¥842.0M | CN¥900.8M | CN¥1.03B | CN¥1.43B | CN¥1.91B | CN¥1.70B | CN¥752.1M |
| Research & development | — | CN¥1.0M | CN¥1.8M | CN¥760,465 | CN¥1.6M | CN¥10.0M | CN¥2.4M | CN¥1.4M | CN¥4.8M | CN¥8.5M |
| Sales, general & admin | CN¥161.1M | CN¥453.8M | CN¥625.4M | CN¥573.5M | CN¥703.2M | CN¥724.0M | CN¥542.5M | CN¥598.5M | CN¥827.4M | CN¥368.8M |
| Total operating expenses | CN¥614.5M | CN¥780.0M | CN¥789.8M | CN¥669.4M | CN¥807.0M | CN¥862.8M | CN¥708.1M | CN¥747.7M | CN¥891.8M | CN¥464.1M |
| Operating income | −CN¥70.3M | CN¥48.3M | CN¥205.6M | CN¥172.6M | CN¥93.8M | CN¥162.7M | CN¥721.0M | CN¥1.16B | CN¥808.7M | CN¥288.0M |
| Interest income | CN¥575.8M | CN¥1.54B | CN¥1.76B | CN¥1.79B | CN¥1.78B | CN¥1.84B | CN¥2.97B | CN¥4.29B | CN¥3.41B | CN¥1.24B |
| Interest expense | CN¥497.9M | CN¥794.5M | CN¥723.1M | CN¥784.8M | CN¥775.6M | CN¥731.3M | CN¥1.31B | CN¥1.94B | CN¥1.41B | CN¥442.7M |
| Income before taxes | −CN¥568.2M | CN¥48.3M | CN¥205.6M | CN¥172.6M | CN¥93.8M | CN¥162.7M | CN¥721.0M | CN¥1.16B | CN¥808.7M | CN¥288.0M |
| Income taxes | −CN¥110.6M | CN¥10.5M | CN¥41.0M | CN¥37.2M | CN¥28.6M | CN¥47.8M | CN¥186.4M | CN¥296.8M | CN¥276.0M | CN¥52.6M |
| Net income | −CN¥457.6M | CN¥37.8M | CN¥164.6M | CN¥135.4M | CN¥65.2M | CN¥114.9M | CN¥534.6M | CN¥860.9M | CN¥532.7M | CN¥235.4M |
| EBITDA | −CN¥54.7M | CN¥59.8M | CN¥207.4M | CN¥174.8M | CN¥97.6M | CN¥168.7M | CN¥731.9M | CN¥1.17B | CN¥819.5M | CN¥294.6M |
| Gross margin | 87.0% | 51.8% | 54.2% | 45.7% | 65.6% | 55.9% | 46.1% | 44.5% | 49.8% | 57.6% |
| Operating margin | −11.2% | 3.0% | 11.2% | 9.4% | 6.8% | 8.9% | 23.2% | 27.0% | 23.7% | 22.1% |
| Net margin | −73.1% | 2.4% | 9.0% | 7.3% | 4.8% | 6.3% | 17.2% | 20.1% | 15.6% | 18.0% |
| Jun '26 | Mar '26 | Sep '25 | Mar '25 | Sep '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | Dec '22 | Sep '22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥0 | CN¥0 | CN¥0 | CN¥44.0M | CN¥135.9M | CN¥176.7M | CN¥193.0M | CN¥441.4M | CN¥469.2M | CN¥493.6M | CN¥336.5M | CN¥466.7M |
| Cost of revenue | CN¥220.2M | CN¥226.6M | CN¥244.9M | CN¥0 | CN¥0 | CN¥164.7M | CN¥0 | CN¥181.1M | CN¥232.5M | CN¥263.4M | CN¥211.00T | CN¥236.0M |
| Gross profit | −CN¥220.2M | −CN¥226.6M | −CN¥244.9M | CN¥44.0M | CN¥135.9M | CN¥176.7M | CN¥193.0M | CN¥260.3M | CN¥236.7M | CN¥230.2M | −CN¥211.00T | CN¥230.8M |
| Research & development | — | CN¥1.9M | CN¥1.9M | CN¥505,112 | CN¥505,112 | CN¥1.8M | — | — | — | CN¥760,465 | — | — |
| Sales, general & admin | — | CN¥24.0M | CN¥24.0M | CN¥45.3M | CN¥52.1M | CN¥67.1M | CN¥208.0M | CN¥149.1M | CN¥137.2M | CN¥131.2M | CN¥60.3M | CN¥140.0M |
| Total operating expenses | CN¥15.5M | CN¥15.5M | CN¥25.9M | CN¥28.5M | CN¥52.6M | CN¥47.9M | CN¥187.8M | CN¥192.5M | CN¥181.3M | CN¥163.3M | −CN¥156.5M | CN¥168.1M |
| Operating income | −CN¥235.8M | −CN¥242.2M | −CN¥270.8M | CN¥15.5M | CN¥83.3M | CN¥128.8M | CN¥5.2M | CN¥67.8M | CN¥55.4M | CN¥66.9M | CN¥231.2M | CN¥62.7M |
| Interest income | — | — | — | — | — | — | CN¥445.0M | CN¥424.9M | CN¥431.3M | CN¥453.2M | CN¥510.8M | CN¥450.4M |
| Interest expense | — | — | — | — | — | CN¥187.2M | CN¥187.2M | CN¥169.6M | CN¥181.7M | CN¥184.6M | CN¥201.2M | CN¥195.4M |
| Income before taxes | −CN¥246.6M | −CN¥246.6M | −CN¥266.3M | −CN¥25.7M | −CN¥5.4M | CN¥29.5M | CN¥15.5M | CN¥67.8M | CN¥55.4M | CN¥66.9M | CN¥30.0M | CN¥62.7M |
| Income taxes | CN¥46.9M | CN¥46.9M | −CN¥51.3M | CN¥5.5M | CN¥272,463 | CN¥5.5M | CN¥3.0M | CN¥14.8M | CN¥11.6M | CN¥17.6M | −CN¥529,000 | CN¥16.7M |
| Net income | −CN¥199.7M | −CN¥199.7M | −CN¥215.0M | −CN¥20.2M | −CN¥5.1M | CN¥24.0M | CN¥18.5M | CN¥53.0M | CN¥43.8M | CN¥49.3M | CN¥30.5M | CN¥46.0M |
| EBITDA | — | — | — | — | — | CN¥128.8M | CN¥16.3M | CN¥67.8M | CN¥55.4M | CN¥66.9M | CN¥185.11T | CN¥62.7M |
| Gross margin | — | — | — | 100.0% | 100.0% | 100.0% | 100.0% | 59.0% | 50.4% | 46.6% | −62,702,064.2% | 49.4% |
| Operating margin | — | — | — | 35.3% | 61.3% | 72.9% | 2.7% | 15.4% | 11.8% | 13.6% | 68.7% | 13.4% |
| Net margin | — | — | — | −45.8% | −3.7% | 13.6% | 9.6% | 12.0% | 9.3% | 10.0% | 9.1% | 9.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported in CNF's financial statements (latest annual report filed April 30, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
CNF financial results
In fiscal year 2025 (ended December 31, 2025), CNFinance reported revenue of CN¥625.9 million, down 60.9% from the year before. It had a net loss of CN¥457.6 million, a net profit margin of −73.1%. Over five years revenue grew at an average rate of −19.3% a year. Figures are in Chinese yuan, the currency of its financial statements.
See the CNF stock overview for the latest quote and news, or the CNF chart for price history and technical indicators.
CNF income statement FAQ
What is CNFinance's annual revenue?
CNFinance reported total revenue of CN¥625.9 million for fiscal year 2025, which ended on December 31, 2025. That was down 60.9% from CN¥1.6 billion the previous year.
Is CNFinance profitable?
No. CNFinance reported a net loss of CN¥457.6 million in fiscal 2025, a net profit margin of −73.1%; its operating margin was −11.2%.
What is CNFinance's gross margin?
CNFinance's gross margin was 87.0% in fiscal 2025: for every $100 of revenue, CNFinance kept $87 after the direct cost of its products and services.
How fast is CNFinance growing?
Revenue grew −19.3% a year on average over the last five fiscal years, from CN¥1.8 billion to CN¥625.9 million.
When does CNFinance's fiscal year end?
CNFinance's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 30, 2026.