SCHEDULE: Gagnon Group Discloses 6.8% Stake in CNFinance Holdings

Neil Gagnon and affiliated entities have reported a combined beneficial ownership of 6.8% in CNFinance Holdings Ltd., totaling 93,309,600 Ordinary Shares.

Summary

• Neil Gagnon, along with Gagnon Securities LLC and Gagnon Advisors, LLC, collectively reported beneficial ownership of 93,309,600 Ordinary Shares of CNFinance Holdings Ltd.
• This aggregate ownership represents 6.8% of the company's outstanding Ordinary Shares.
• Gagnon Securities LLC beneficially owns 66,983,200 Ordinary Shares, representing 4.9% of the class, with shared voting and dispositive power.
• Gagnon Advisors, LLC beneficially owns 16,071,800 Ordinary Shares, representing 1.2% of the class, with shared voting and dispositive power.
• Neil Gagnon holds sole voting and dispositive power over 7,082,400 Ordinary Shares, and shared voting and dispositive power over 85,692,000 and 86,227,200 Ordinary Shares respectively, totaling 93,309,600 shares.
• The Ordinary Shares are held in the form of American Depositary Shares (ADS), where each ADS represents 200 Ordinary Shares, traded on the NYSE under the symbol 'CNF'.
• The percentage of beneficial ownership is calculated based on 1,371,643,240 Ordinary Shares outstanding as of June 30, 2025, as reported in the Issuer's Form 6-K filed on August 28, 2025.
• The reporting persons disclaim beneficial ownership of securities held in customer accounts and by Gagnon Investment Associates, LLC, where they act as investment managers.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of beneficial ownership and does not contain information that would inherently suggest a positive or negative sentiment regarding the company's performance or prospects.

Future Outlook

NA

Industry Context

This filing reflects a significant ownership position taken by an investment group in a publicly traded company, which is a common occurrence in the financial industry. It indicates a notable investor's confidence or strategic interest in CNFinance Holdings Ltd. within the broader financial services sector.

Stakeholder Impact

• Shareholders: The disclosure of a significant stake by an investment group could be viewed as a vote of confidence or a potential precursor to increased shareholder activism, depending on the investor's intentions.
• Management: Management may need to consider the implications of a large beneficial owner, potentially engaging in discussions regarding strategy or governance.

Key Dates

Keywords

CNFinance Holdings Ltd., beneficial ownership, Schedule 13G, Gagnon Securities LLC, Gagnon Advisors LLC, Neil Gagnon, Ordinary Shares, American Depositary Shares, investment adviser, broker-dealer, equity stake