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Exhibit 99.1 CNFinance Announces First Quarter 2021 Unaudited Financial Results GUANGZHOU , China , May 27 , 2021 / PRNewswire / -- CNFinance Holdings Limited ( NYSE : CNF ) ( “ CNFinance ” or the “ Company ” ) , a leading home equity loan service provider in China , today announced its unaudited financial results for the first quarter ended March 31 , 2021 . First Quarter 2021 Operational and Financial Highlights • Total loan origination volume¹ was RMB2,841.8 million ( US $ 432.5 million ) during the first quarter of 2021 , among which RMB1,063.1 million was first lien loan and RMB1,778.7 million was second lien loan . • • • • Total outstanding loan principal² was RMB10.3 billion as of March 31 , 2021 , compared to RMB9.7 billion as of December 31 , 2020. Under the collaboration model , the outstanding first lien loan principal was RMB3.5 billion and the outstanding second lien loan principal was RMB5.2 billion . Under the traditional facilitation model , the outstanding first lien loan principal was RMB0.7 billion and the outstanding second lien loan principal was RMB0.9 billion . Total interest and fees income were RMB425.1 million ( US $ 64.7 million ) in the first quarter of 2021 , a decrease of 13.9 % from RMB493.7 million in the same period of 2020 . Net income / ( losses ) was a net income of RMB85.6 million ( US $ 13.1 million ) in the first quarter of 2021 , compared to the net losses of RMB65.7 million in the same period of 2020 . Basic earnings / ( losses ) per ADS and diluted earnings / ( losses ) per ADS were RMB1.25 ( US $ 0.19 ) and RMB1.19 ( US $ 0.18 ) , respectively , in the first quarter of 2021 , compared to RMB ( 0.96 ) and RMB ( 0.96 ) , respectively , in the same period of 2020 . " In the first quarter of 2021 , CNFinance recorded strong operational results . In this quarter , the Company facilitated loans with a total size of RMB2.84 billion , increased by 142.7 % from RMB1.17 billion in the first quarter of 2020. We recorded total interest and fees income of RMB425.1 million in this quarter , and our net income was RMB85.6 million in the first quarter of 2021 , compared to the net losses of RMB65.7 million in the same period of 2020 . As the COVID - 19 has been effectively contained in China , our business operations were fully resumed in the first quarter of 2021. The increased demand for capital by MSE owners and the high efficiency of our collaboration model were the main drivers for our growth . Going forward , we will continue to devote ourselves in securing more funding sources and lowering the funding costs to meet the demands of our customers . We will seize this opportunity to expand our business and create higher value for our shareholders . ” First Quarter 2021 Financial Results Total interest and fees income decreased by 13.9 % to RMB425.1million ( US $ 64.7 million ) for the first quarter of 2021 from RMB493.7 million in the same period of 2020 , primarily due to a decrease in the Company's interest income on loans . Interest and financing service fees on loans decreased by 13.7 % to RMB422.0 million ( US $ 64.2 million ) for the first quarter of 2021 from RMB489.2 million in the same period of 2020 , primarily due to lowered interest rates on loans facilitated in an effort to comply with the rules and regulations issued by relevant PRC regulatory authorities , including the Decisions of the Supreme People's Court to Amend the Provisions on Several Issues concerning the Application of Law in the Trial of Private Lending Cases issued in August 2020 . 1 Refers to the total amount of loans CNFinance originated during the relevant period . 2 Refers to the total amount of loans outstanding for loans CNFinance at the end of the relevant period .