CNFinance Holdings Limited (NYSE:CNF) Q2 2023 Earnings Call Transcript

Page 2 of 2

William Gregozeski: Okay. Thanks. And then last question is regarding the sales partners. The interest on the loans to the sales partners was down this quarter. Is that a sign of just less loans going into defaults or sales partners having more liquidity and what’s kind of the how active are the sales partners right now?

Jun Qian: [Foreign Language] [Interpreted] So we see this change as a positive indicator. So we believe that means there are less defaults and which indicates that the overall asset quality is improving, which has caused less sales partners that have to repurchase the defaulted loans, and that has caused such number to decrease. And also, I think in the future, if this number keeps going down, it only means that our business is getting better. It means our sales partners are doing better, are performing well. Anything else?

William Gregozeski: Okay. Thank you.

Operator: That concludes the question-and-answer session. I would like to turn the conference back over to Matthew Lou for closing remarks.

Matthew Lou: Thank you and thank you again for joining us today. If you have any other questions, please feel free to contact us at ir@cashchina.cn. Thank you.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.

Follow China Forestry Industry Group Inc.

Page 2 of 2