CNFinance announce ADS ratio change

CNFinance (CNF) announced that it plans to change the ratio of its American depositary shares to its Class A ordinary shares, par value $0.0001 per share, from the current ratio of one ADS to 20 Class A ordinary shares to a new ratio of one one ADS to 200 Class A ordinary shares. For the company’s ADS holders, the change in the ADS Ratio will have the same effect as a one-for-ten reverse ADS split. A post-effective amendment to the ADS Registration Statement on Form F-6 will be filed with the SEC to reflect the change in the ADS Ratio. The company anticipates that the change in the ADS Ratio will be effective on or about September 5, subject to the effectiveness of the post-effective amendment to the ADS registration statement on Form F-6 on or before that date.