The firm's financial stability is increasingly compromised, as evidenced by a current ratio that has plummeted to 0.41 as of 2025Q2, indicating insufficient short-term assets to cover immediate liabilities.
CNFinance Holdings Limited (CNF) balance sheet — 10-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 |
|---|
| Cash & Short Term Investments | 1.16B | 820.25M | 1.79B | 2.7B | 2.41B | 3.48B | 2.49B | 2.49B | 4.02B | 1.7B | 347.6M |
| Cash & Due from Banks | 252.35M | 791.85M | 1.76B | 2.55B | 2.16B | 2.39B | 2.07B | 1.84B | 3.34B | 1.34B | 284.73M |
| Short Term Investments | 0 | 28.4M | 38.7M | 146.49M | 244.34M | 1.09B | 418.14M | 654.33M | 682.25M | 360.19M | 62.87M |
| Total Investments | 5.15B | 5.96B | 318.8M | 11.96B | 11.1B | 10.64B | 9.48B | 10.95B | 15.72B | 16.66B | 7.4B |
| Investments Growth % | 1730.53% | 1767.99% | -97.33% | 7.68% | 4.33% | 12.26% | -13.38% | -30.37% | -5.65% | 125.29% | - |
| Long-Term Investments | 11.08B | 5.93B | 280.11M | 11.81B | 10.86B | 9.56B | 9.06B | 10.29B | 15.04B | 16.3B | 7.33B |
| Accounts Receivables | 0 | 82.47M | 197.93M | 340.4M | 82.43M | 197.23M | 17.24M | 46.31M | 7M | 0 | 0 |
| Goodwill & Intangibles | 0 | 0 | 3.08M | 3.01M | 3.49M | 4.01M | 3.23M | 3.74M | 4.18M | 3.34M | 3M |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 3.08M | 3.01M | 3.49M | 4.01M | 3.23M | 3.74M | 4.18M | 3.34M | 3M |
| PP&E (Net) | 187.55M | 189.58M | 212.53M | 35.99M | 32.06M | 19.24M | 24.18M | 47.33M | 19.17M | 22.47M | 18.68M |
| Other Assets | 3.78B | 2.3B | 12.61B | 875.03M | 726.41M | 1B | 533.68M | 100.3M | 0 | 0 | 0 |
| Total Current Assets | 0 | 1.53B | 1.79B | 3.55B | 2.78B | 3.78B | 2.53B | 2.57B | 4.08B | 1.78B | 396.51M |
| Total Non-Current Assets | 9.12B | 8.73B | 13.23B | 12.82B | 11.7B | 10.6B | 9.7B | 10.46B | 15.28B | 16.44B | 7.41B |
| Total Assets | 9.12B | 10.26B | 15.03B | 16.36B | 14.48B | 14.39B | 12.23B | 13.03B | 19.35B | 18.22B | 7.81B |
| Asset Growth % | -117.9% | -31.75% | -8.17% | 13% | 0.67% | 17.6% | -6.09% | -32.7% | 6.25% | 133.35% | - |
| Return on Assets (ROA) | -8.56% | -3.62% | 0.24% | 1.07% | 0.94% | 0.49% | 0.91% | 3.3% | 4.58% | 4.09% | 3.02% |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Debt | 3.03B | 4.22B | 5.95B | 8.96B | 7.87B | 8.1B | 6.18B | 7.56B | 15.32B | 15.71B | 6.31B |
| Net Debt | 150.24M | 3.43B | 4.2B | 6.41B | 5.71B | 5.71B | 4.1B | 5.72B | 11.98B | 14.37B | 6.02B |
| Long-Term Debt | 402.58M | 892.85M | 578.41M | 1.82B | 7.73B | 8.04B | 5.65B | 6.65B | 11.11B | 12.2B | 6.17B |
| Short-Term Debt | 2.62B | 3.31B | 5.35B | 7.11B | 112.64M | 45.25M | 508.58M | 870.78M | 4.21B | 3.51B | 141.68M |
| Other Liabilities | 5.54B | 2.31B | 3.19B | 3.24B | 2.51B | 2.21B | 1.74B | 1.28B | 847.34M | 562.92M | 294.08M |
| Total Current Liabilities | 0 | 3.31B | 7.08B | 7.16B | 168.42M | 91.39M | 564.57M | 976.17M | 4.31B | 3.62B | 219.49M |
| Total Non-Current Liabilities | 5.95B | 3.36B | 3.89B | 5.19B | 10.38B | 10.48B | 7.93B | 8.45B | 12B | 12.77B | 6.47B |
| Total Liabilities | 5.95B | 6.67B | 10.97B | 12.36B | 10.54B | 10.57B | 8.49B | 9.43B | 16.31B | 16.38B | 6.69B |
| Total Equity | 3.17B | 3.58B | 4.06B | 4.01B | 3.94B | 3.82B | 3.74B | 3.6B | 3.05B | 1.83B | 1.12B |
| Equity Growth % | -66.01% | -11.7% | 1.21% | 1.81% | 3.13% | 2.06% | 3.97% | 18.16% | 66.31% | 63.7% | - |
| Equity / Assets (Capital Ratio) | 34.81% | 34.94% | 27% | 24.5% | 27.19% | 26.54% | 30.58% | 27.63% | 15.74% | 10.05% | 14.33% |
| Return on Equity (ROE) | -24.56% | -11.98% | 0.94% | 4.14% | 3.49% | 1.73% | 3.13% | 16.09% | 35.31% | 36.11% | 21.05% |
| Book Value per Share | 635.73 | 10448.58 | 1183.27 | 1109.05 | 1031.42 | 1000.93 | 981.16 | 980.67 | 876.84 | 550.17 | 363.67 |
| Tangible BV per Share | 635.73 | 10448.58 | 1182.37 | 1108.21 | 1030.51 | 999.88 | 980.32 | 979.65 | 875.64 | 549.16 | 362.70 |
| Common Stock | 2.27M | 917.32K | 916.74K | 916.74K | 916.74K | 916.74K | 916.74K | 916.74K | 916.74K | 0 | 0 |
| Additional Paid-in Capital | 1.05B | 1.05B | 1.05B | 1.03B | 1.02B | 1.02B | 999.66M | 937.59M | 921.7M | 569.13M | 386.44M |
| Retained Earnings | 2.27B | 2.67B | 3.14B | 3.1B | 2.96B | 2.82B | 2.76B | 2.66B | 2.13B | 1.27B | 733.92M |
| Accumulated OCI | -21.56M | -13.57M | -8.82M | -9.34M | -10.21M | -25.39M | -18.46M | -2.12M | -4.57M | -4.47M | -1.67M |
| Treasury Stock | -124.68M | -124.76M | -122.9M | -118.32M | -87.63M | 0 | 0 | 0 | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Quick answers to the most common questions about buying CNF stock.
As of 2025, CNFinance Holdings Limited (CNF) had total assets of $10.26B including $1.53B in current assets.
CNFinance Holdings Limited (CNF) carries total debt of $4.22B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
CNFinance Holdings Limited (CNF) has total shareholders' equity (book value) of $3.58B ($10448.58 book value per share). Book value represents the net worth of the company belonging to common stock holders.
CNFinance Holdings Limited (CNF) reported a current ratio of 0.46x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.
Key Metrics
Top Statement Risk
Collateral Liquidity and Solvency
Balance Sheet Contraction and Erosion
As reported in recent financial filings, CNF's total assets have declined from $17.3 billion in 2024Q2 to $12.5 billion in 2025Q2, signaling a significant reduction in the firm's operational scale and a potential retreat from its core mortgage-backed lending activities in the Chinese market.
The consistent downward trend in total assets suggests that the company is struggling to maintain its footprint in the face of a challenging real estate environment. This contraction appears to be a defensive response to deteriorating credit conditions, yet it raises concerns regarding the firm's long-term viability as a going concern.
Leverage Volatility Amidst Funding Shifts
Based on the provided data, CNF's debt-to-equity ratio has fluctuated significantly, reaching 1.32 in 2025Q2, which reflects the company's reliance on external trust funding and the inherent instability of its capital structure during periods of severe revenue contraction and market-wide credit tightening.
The volatility in debt levels suggests that the company's access to capital is highly sensitive to the credit appetite of its trust partners. Investors should monitor whether this leverage is being managed strategically or if it represents a forced deleveraging process as collateral values continue to face downward pressure.
Liquidity Buffer and Operational Constraints
According to recent balance sheet disclosures, the current ratio has plummeted to 0.41 as of 2025Q2, indicating that the firm's short-term assets are increasingly insufficient to cover its immediate liabilities, which may severely limit its operational flexibility and ability to navigate further market shocks.
The sharp decline in the current ratio from historical highs suggests that the company's liquidity position has become precarious. This lack of a sufficient buffer may force management to prioritize debt servicing over operational investments, further hindering the firm's ability to pivot its business model.
Hidden Risks in Asset Valuation
Financial statements indicate that the company maintains $195.3 million in net PPE, yet the lack of transparency regarding the fair value of repossessed collateral suggests that headline asset figures may significantly overstate the true realizable value of the firm's holdings in a distressed market.
The reliance on property-backed assets in a declining real estate market creates a non-obvious risk where the book value of assets may not reflect their actual market liquidity. This discrepancy warrants further investigation into the impairment methodologies used by management to value these critical balance sheet components.