GUANGZHOU, China, Nov. 29,
2024 /PRNewswire/ -- CNFinance Holdings Limited
(NYSE: CNF) ("CNFinance" or the "Company"), a leading home equity
loan service provider in China,
today announced the results of its extraordinary general meeting of
shareholders held at 44/F, Tower G, NO. 16 Zhujiang Dong Road,
Tianhe District, Guangzhou City,
Guangdong Province, People's Republic of China, at 10:00 AM (Hong
Kong time) on November 29,
2024.
At the extraordinary general meeting, each of the following
resolutions submitted for shareholder approval was adopted, and
after the adoption of the proposed resolutions, all corporate
authorizations and actions contemplated thereunder were
approved:
(i) As a Special Resolution that the name of the Company be
changed from "CNFinance Holdings Limited 泛華金融控股有限公司" to "CNFinance
Holdings Limited 深泛联控股有限公司" (the "Change of Name") and as an
Ordinary Resolution, each of the directors and officers of the
Company be authorized to make filings, take any and all action that
might be necessary, appropriate or desirable to effect the
foregoing resolution as such director or officer, in his or her
absolute discretion, thinks fit;
(ii) As a Special Resolution, in connection with the Change of
Name, that the existing Amended and Restated Memorandum and
Articles of Association of the Company be and are hereby replaced
in their entirety with the Second Amended and Restated Memorandum
and Articles of Association, a copy of which is annexed to the
notice of extraordinary general meeting.
The Change of Name will take effect on or around November 29, 2024. The Company's ISIN and CUSIP
codes will remain unchanged. Shareholders are not required to take
any specific action regarding the above changes.
Safe Harbor Statement
This press release contains forward-looking statements made
under the "safe harbor" provisions of Section 21E of the Securities
Exchange Act of 1934, as amended, and the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will", "expects",
"anticipates", "future", "intends", "plans", "believes",
"estimates", "confident" and similar statements. The Company may
also make written or oral forward-looking statements in its reports
filed with or furnished to the U.S. Securities and Exchange
Commission, in its annual report to shareholders, in press releases
and other written materials and in oral statements made by its
officers, directors or employees to third parties. Any statements
that are not historical facts, including statements about the
Company's beliefs and expectations, are forward-looking statements
that involve factors, risks and uncertainties that could cause
actual results to differ materially from those in the
forward-looking statements. Such factors and risks include, but not
limited to the following: its goals and strategies, its ability to
achieve and maintain profitability, its ability to retain existing
borrowers and attract new borrowers, its ability to maintain and
enhance the relationship and business collaboration with its trust
company partners and to secure sufficient funding from them, the
effectiveness of its risk assessment process and risk management
system, its ability to maintain low delinquency ratios for loans it
originated, fluctuations in general economic and business
conditions in China, and relevant
government laws, regulations, rules, policies or guidelines
relating to the Company's corporate structure, business and
industry. Further information regarding these and other risks is
included in the Company's filings with the U.S. Securities and
Exchange Commission. All information provided in this press release
is current as of the date of the press release, and the Company
does not undertake any obligation to update such information,
except as required under applicable law.
About CNFinance Holdings Limited
CNFinance Holdings Limited (NYSE: CNF) ("CNFinance" or
the "Company") is a leading home equity loan service
provider in China. CNFinance,
through its operating subsidiaries in China, conducts business by connecting demands
and supplies through collaborating with sales partners and trust
companies under the trust lending model, and sales partners, local
channel partners and commercial banks under the commercial bank
partnership model. Sales partners and local channel partners are
responsible for recommending micro- and small-enterprise
("MSE") owners with financing needs to the Company and the
Company introduces eligible borrowers to licensed financial
institutions with sufficient funding sources including trust
companies and commercial banks 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 and other major cities in China. 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.
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SOURCE CNFinance Holdings Limited