CNFinance announce ADS ratio change
Change in ADS Ratio: CNFinance plans to change the ratio of its American depositary shares (ADS) from 1 ADS to 20 Class A ordinary shares to 1 ADS to 200 Class A ordinary shares.
Effect on Shareholders: This adjustment will effectively act as a one-for-ten reverse ADS split for current ADS holders.
Regulatory Filing: The company will file a post-effective amendment to the ADS Registration Statement on Form F-6 with the SEC to implement this change.
Effective Date: The new ADS Ratio is expected to take effect around September 5, pending the approval of the regulatory filing before that date.
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CNFinance Approves Dual-Class Share Structure at Extraordinary Shareholder Meeting
- Equity Structure Adjustment: CNFinance held an extraordinary shareholder meeting in Guangzhou, approving an increase in authorized share capital from $380,000 to $2 million, creating 14.2 billion Class A shares and 2 billion Class B shares, aimed at enhancing corporate governance and attracting investors.
- Corporate Charter Update: The meeting adopted a new third amended and restated memorandum and articles of association, replacing the existing ones to ensure alignment with future strategic goals, thereby improving transparency and compliance.
- Director Authorization: Shareholders authorized company directors to take necessary actions to implement the resolutions, ensuring flexibility and efficiency in decision-making to drive the achievement of corporate strategic objectives.
- Market Positioning Enhancement: By implementing a dual-class share structure, CNFinance aims to strengthen its appeal to micro and small enterprise owners, further solidifying its leadership position in China's home equity loan market.
CNFinance Schedules Extraordinary General Meeting for December 10, 2025
Extraordinary General Meeting Announcement: CNFinance Holdings Limited will hold an Extraordinary General Meeting (EGM) on December 10, 2025, to consider adopting a dual-class shareholding structure and amending its memorandum and articles of association.
Record Date for Shareholders: The record date for shareholders entitled to attend the EGM is set for November 10, 2025, and both ordinary shareholders and American depositary share (ADS) holders must follow specific procedures to exercise their voting rights.
