# EDGAR Filing Document

**Accession Number:** 0001733868
**File Stem:** 0001213900-26-054460
**Filing Date:** 2026-5
**Character Count:** 18796
**Document Hash:** 52c20f5e4df06fa51ec8b45ad6eef957
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-054460.hdr.sgml**: 20260511

**ACCESSION NUMBER**: 0001213900-26-054460

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20260511

**DATE AS OF CHANGE**: 20260511

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CNFinance Holdings Ltd.
- **CENTRAL INDEX KEY:** 0001733868
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-90900
- **FILM NUMBER:** 26962984

**BUSINESS ADDRESS:**
- **STREET 1:** 22/F, SOUTH FINANCE CTR, NO. 6 WUHENG RD
- **STREET 2:** TIANHE DISTRICT, GUANGZHOU CITY
- **CITY:** GUANGDONG PROVINCE
- **STATE:** F4
- **ZIP:** 00000
- **BUSINESS PHONE:** 86-020-62316688

**MAIL ADDRESS:**
- **STREET 1:** 22/F, SOUTH FINANCE CTR, NO. 6 WUHENG RD
- **STREET 2:** TIANHE DISTRICT, GUANGZHOU CITY
- **CITY:** GUANGDONG PROVINCE
- **STATE:** F4
- **ZIP:** 00000
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Zhai Bin
- **CENTRAL INDEX KEY:** 0001767822

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D

**MAIL ADDRESS:**
- **STREET 1:** 44/F, TOWER G, NO. 16 ZHUJIANG DONG ROAD
- **STREET 2:** TIANHE DISTRICT, GUANGZHOU CITY
- **CITY:** GUANGDONG PROVINCE
- **STATE:** F4
- **ZIP:** 510620

## Exhibit 99.1

**Exhibit 1**

**JOINT FILING AGREEMENT**

In accordance with Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, each of the undersigned parties hereby agrees to file jointly the statement on Schedule 13D (including any amendments thereto) with respect to the Ordinary Shares, par value $0.0001 per share, of CNFinance Holdings Limited.

It is understood and agreed that each of the parties hereto is responsible for the timely filing of such statement and any amendments thereto, and for the completeness and accuracy of information concerning such party contained therein, but such party is not responsible for the completeness and accuracy of information concerning another party unless such party knows or has reason to believe such information is inaccurate. It is understood and agreed that a copy of this agreement shall be attached as an exhibit to the statement on Schedule 13D, and any amendments thereto, filed on behalf of the parties hereto.

This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument.

[Remainder of this page has been left intentionally blank.]

**Signature Page**

IN WITNESS WHEREOF, the undersigned hereby execute this Agreement as of May 11, 2026.

---

| | | |
|:---|:---|:---|
| Kylin Investment Holdings Limited | Kylin Investment Holdings Limited | Kylin Investment Holdings Limited |
| By: | /s/ Bin Zhai | /s/ Bin Zhai |
|  | Name: | Bin Zhai |
|  | Title: | Director |

---

---

| |
|:---|
| Bin Zhai |
| /s/ Bin Zhai |

---

## Exhibit 99.2

**Exhibit 2**

**DIRECTORS AND EXECUTIVE OFFICERS OF KYLIN INVESTMENT HOLDINGS LIMITED**

The name, business address, present principal employment and citizenship of the sole director of Kylin Investment Holdings Limited are set forth below.

---

| | | | |
|:---|:---|:---|:---|
| **Name** | **Business Address** | **Present Principal <br> Employment** | **Citizenship** |
| Bin Zhai | 22/F, South Finance Center, No.7 Chunrong Road, Tianhe District, Guangzhou City, Guangdong Province, People's Republic of China | Director of Kylin Investment<br> Holdings Limited | People's Republic of China |

---

Kylin Investment Holdings Limited is 50% owned by Bin Zhai. Bin Zhai is the sole director of Kylin Investment Holdings Limited. (See above for the information on Bin Zhai.)

## Exhibit 99.3

**Exhibit 3**

**SHARE APPLICATION FORM**

Date: April 15, 2026

Board of Directors

CNFinance Holdings Limited 深泛联控股有限公司

w/o Walkers Corporate Limited

190 Elgin Avenue

George Town, Grand Cayman KY1-9008

Cayman Islands

Dear Directors

CNFinance Holdings Limited 深泛联控股有限公司 (THE "COMPANY")

We agree to subscribe for 2,000,000,000 Class B ordinary shares of nominal or par value of US$0.0001 each in the capital of the Company in accordance with the terms and conditions as set out in the Company's Articles of Association (the "Shares"), for the aggregate subscription price of US$200,000 (the "Subscription Price"). The Subscription Price shall be paid by us to the Company on the date hereof, or such other date as may be agreed (the "Issue Date").

We hereby request that you allot and issue the Shares to us on the Issue Date, credited as fully paid, and register our name in the register of members of the Company as the holder of the Shares.

Kindly confirm your agreement to the provisions of this letter by signing and dating the acknowledgement on the copy which accompanies it.

Yours faithfully

---

| |
|:---|
| Bin Zhai<br> for and on behalf of Kylin Investment Holdings Limited  |
| /s/ Bin Zhai |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**CNFinance Holdings Ltd.**

*(Name of Issuer)*

**Class A Ordinary Shares, par value US$0.0001 per share**

*(Title of Class of Securities)*

**—**

*(CUSIP Number)*

**Kylin Investment Holdings Ltd**<br>c/o Bin Zhai, 22/F, South Finance Center<br>No.7 Chunrong Road, Tianhe District<br>Guangzhou F4 510620<br>(86)(20)62316688

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**05/06/2026**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Kylin Investment Holdings Limited** | Name of reporting person<br>**Kylin Investment Holdings Limited** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**D8** | Citizenship or place of organization<br>**D8** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**2243949380.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**2243949380.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**2243949380.00** | Aggregate amount beneficially owned by each reporting person<br>**2243949380.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**66.55%** | Percent of class represented by amount in Row (11)<br>**66.55%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** Note to Row 7, 9, 11: Represents 243,949,380 Class A ordinary shares and 2,000,000,000 Class B ordinary shares directly held by Kylin Investment Holdings Ltd.

Note to Row 13: The percentage calculation is based on 3,371,643,240 ordinary shares, including 1,371,643,240 Class A ordinary shares and 2,000,000,000 Class B ordinary shares, of the Issuer outstanding as of May 6, 2026.

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Bin Zhai** | Name of reporting person<br>**Bin Zhai** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**CHINA** | Citizenship or place of organization<br>**CHINA** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**40000000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**2243949380.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**40000000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**2243949380.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**2283949380.00** | Aggregate amount beneficially owned by each reporting person<br>**2283949380.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**66.95%** | Percent of class represented by amount in Row (11)<br>**66.95%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** Note to Row 11: Includes (i) 40,000,000 Class A ordinary shares which may be acquired by Mr. Bin Zhai within 60 days of May 6, 2026 upon exercise of outstanding options granted by the Issuer and (ii) 243,949,380 Class A ordinary shares and 2,000,000,000 Class B ordinary shares directly held by Kylin Investment Holdings Limited. Mr. Bin Zhai holds 50% of the total outstanding shares of Kylin Investment Holdings Limited and serves as its sole director. As a result, Mr. Zhai may be deemed to have the power to direct voting and disposition of the 2,243,949,380 ordinary shares held by Kylin Investment Holdings Limited.

Note to Row 13: The ownership percentage above is calculated based on 3,371,643,240 ordinary shares, including 1,371,643,240 Class A ordinary shares and 2,000,000,000 Class B ordinary shares, of the Issuer outstanding as of May 6, 2026, and 40,000,000 Class A ordinary shares which may be acquired by Mr. Bin Zhai within 60 days of May 6, 2026 upon exercise of outstanding options granted by the Issuer.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Class A Ordinary Shares, par value US$0.0001 per share

**(b) Name of Issuer:**
CNFinance Holdings Ltd.

**(c) Address of Issuer's Principal Executive Offices:**
22/F, South Finance Center, No.7 Chunrong Road Tianhe District, Guangzhou, F4, 510620

**Item 4. Purpose of Transaction**

The Reporting Persons acquired beneficial ownership of the Ordinary Shares as described in this Schedule 13D for investment purposes. The Reporting Persons intend to review their investment in the Issuer on a continuing basis. Each Reporting Person may in the future take such actions with respect to its investment in the Issuer as it deems appropriate, including changing its current intentions, with respect to any or all matters required to be disclosed in this Schedule 13D, depending on various factors, including but not limited to the Issuer's business, prospects, financial position and strategic direction, price levels of the Ordinary Shares, conditions in the securities markets, and general economic and industry conditions. Consistent with the Reporting Persons' investment purposes, the Reporting Persons may engage in communications with, without limitation, one or more shareholders of the Issuer, management of the Issuer or one or more members of the board of directors of the Issuer, and may make suggestions concerning the Issuer's operations, prospects, business and financial strategies, strategic direction and transactions, assets and liabilities, business and financing alternatives and such other matters as the Reporting Person may deem relevant to their investment in the Ordinary Shares. The Reporting Person expects that they will, from time to time, review their investment position in the Issuer and may make additional purchases of Ordinary Shares (or other securities convertible or exercisable into Ordinary Shares) in the open market or in privately negotiated transactions, or hold or dispose of all or part of their investments in the Ordinary Shares, depending upon the Reporting Persons' evaluation of the Issuer's business, prospects, financial condition and strategic direction, the market for the Ordinary Shares, other opportunities available to the Reporting Persons, general economic conditions, stock market conditions and other factors. Except as set forth in this Item 4 or Item 6 below, the Reporting Persons have no present plans or proposals that relate to or that would result in any of the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D of the Act.

**Item 5. Interest in Securities of the Issuer**

**(a)**
The responses of each of the Reporting Persons to Rows (7) through (13), including the footnotes thereto, of the cover pages of this Schedule 13D are hereby incorporated by reference in this Item 5.

On April 15, 2026, Kylin Investment Holdings Limited entered into a Share Application Form (the "Form") with the Issuer, pursuant to which Kylin Investment Holdings Limited agreed to subscribe for, and the Issuer agreed to issue and sell to Kylin Investment Holdings Limited, 2,000,000,000 Class B ordinary shares, for a total consideration of US$200,000 (the "Transaction"). The Transaction was completed on May 6, 2026. Upon closing of the Transaction, Kylin Investment Holdings Limited beneficially owns 243,949,380 Class A ordinary shares and 2,000,000,000 Class B ordinary shares of the Issuer.

Kylin Investment Holdings Limited is 50% owned by Bin Zhai who also serves as its sole director. Consequently, Bin Zhai may be deemed to beneficially own the Ordinary Shares held by Kylin Investment Holdings Limited.

The following table sets forth the aggregate beneficial ownership of the Reporting Persons following the Transaction:

Kylin Investment Holdings Limited
Class A Ordinary Shares 243,949,380
Class B Ordinary Shares 2,000,000,000
% of Beneficially Ownership (1) 66.55%
% of Aggregate Voting Power (1) 97.27%

Bin Zhai
Class A Ordinary Shares 283,949,380
Class B Ordinary Shares 2,000,000,000
% of Beneficially Ownership (1) 66.95%
% of Aggregate Voting Power (1) 97.28%

Note (1):
The percentage of beneficial ownership of Kylin Investment Holdings Limited is based on 3,371,643,240 ordinary shares, including 1,371,643,240 Class A ordinary shares and 2,000,000,000 Class B ordinary shares, of the Issuer outstanding as of May 6, 2026.

The percentage of beneficial ownership of Bin Zhai is based on 3,411,643,240 ordinary shares, including 1,371,643,240 Class A ordinary shares, 2,000,000,000 Class B ordinary shares, and 40,000,000 Class A ordinary shares which may be acquired by Mr. Bin Zhai within 60 days of May 6, 2026 upon exercise of outstanding options granted by the Issuer.

The Class B ordinary shares are treated as converted into Class A ordinary shares only for the purpose of calculating the percentage ownership. Percentage of aggregate voting power is calculated by dividing the voting power beneficially owned by each Reporting Person by the voting power of all of our Class A ordinary shares and Class B ordinary shares as a single class. Each Class A ordinary share is entitled to one (1) vote while each Class B ordinary share is entitled to one hundred (20) votes on any and all matters submitted for a vote. Our Class A ordinary shares and Class B ordinary shares vote together as a single class on all matters submitted to a vote of our shareholders, except as may otherwise be required by law.

**(b)**
Kylin Investment Holdings Limited has sole voting and dispositive power over 2,243,949,380 ordinary shares, including 243,949,380 Class A ordinary shares and 2,000,000,000 Class B ordinary shares, of the Issuer reported in this Schedule 13D.

Mr. Bin Zhai has shared voting and dispositive power over 2,243,949,380 ordinary shares of the Issuer directly held by Kylin Investment Holdings Limited and has sole voting and dispositive power over
40,000,000 Class A ordinary shares which may be acquired by Mr. Bin Zhai within 60 days of May 6, 2026 upon exercise of outstanding options granted by the Issuer.

**(c)**
During the 60 days preceding the filing of this Schedule 13D, none of the Reporting Persons has effected any transactions in the Ordinary Shares except as reported herein.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

The information set forth in Item 3, Item 4, Item 5 and Item 7 of this Schedule 13D is incorporated by reference.

Except as described above or elsewhere in this Statement or incorporated by reference in this Statement, there are no contracts, arrangements, understandings or relationships (legal or otherwise) between the Reporting Persons and any person with respect to any securities of the Company, including, but not limited to, transfer or voting of any securities, finder's fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or losses, or the giving or withholding of proxies.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Kylin Investment Holdings Limited

**Signature:** /s/ Bin Zhai

**Name/Title:** Bin Zhai /Director

**Date:** 05/11/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Bin Zhai

**Signature:** /s/ Bin Zhai

**Name/Title:** Bin Zhai

**Date:** 05/11/2026