CNFinance Holdings Limited (CNF) 6-K 2 Dec 22 Management’s Discussion and Analysis of Financial Condition and Results of Operations Financial data

Document And Entity Information

Document And Entity Information	9 Months Ended
	Sep. 30, 2022
Document Information Line Items
Entity Registrant Name	CNFinance Holdings Limited
Document Type	6-K
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0001733868
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity File Number	001-38726

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - CNY (¥)	Sep. 30, 2022	Dec. 31, 2021
Assets
Cash, cash equivalents and restricted cash	¥ 1,373,242,766	¥ 2,231,437,361
Loans principal, interest and financing service fee receivables	9,544,625,067	9,412,717,366
Allowance for credit losses	1,017,079,345	975,850,851
Net loans principal, interest and financing service fee receivables	8,527,545,722	8,436,866,515
Loans held-for-sale (include RMB24,696,075 and RMB11,694,198 measured at fair value as of December 31, 2021 and September 30, 2022, respectively)	1,016,173,196	733,975,352
Investment securities	962,415,052	1,088,044,211
Property and equipment	2,890,796	3,041,946
Intangible assets and goodwill	3,615,006	4,009,372
Deferred tax assets	23,813,730	21,068,094
Deposits	135,245,374	156,954,100
Guaranteed assets	1,508,770,981	1,289,751,459
Right-of-use assets	15,545,649	16,196,806
Other assets	381,901,251	404,826,131
Total assets	13,951,159,523	14,386,171,347
Liabilities and shareholders’ equity
Interest-bearing borrowings
Borrowings under agreements to repurchase	5,965,976	45,250,000
Other borrowings	7,594,325,089	8,041,892,080
Accrued employee benefits	23,011,380	24,223,752
Income taxes payable	170,245,184	154,957,182
Deferred tax liabilities	68,524,985	151,828,860
Lease liabilities	14,830,454	15,521,022
Credit risk mitigation position	1,361,971,614	1,348,449,426
Other liabilities	831,794,417	785,761,285
Total liabilities	10,070,669,099	10,567,883,607
Ordinary shares	916,743	916,743
Treasury stock	(68,089,911)
Additional paid-in capital	1,022,759,950	1,018,429,249
Retained earnings	2,931,549,556	2,824,335,263
Accumulated other comprehensive losses	(6,645,914)	(25,393,515)
Total shareholders’ equity	3,880,490,424	3,818,287,740
Total liabilities and shareholders’ equity	¥ 13,951,159,523	¥ 14,386,171,347

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - CNY (¥)	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Loans held-for-sale measured at fair value	¥ 11,694,198	¥ 24,696,075

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Statements of Comprehensive Income - CNY (¥)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Interest and fees income
Interest and financing service fees on loans	¥ 1,180,106,666	¥ 1,325,657,014
Interest on deposits with banks	8,755,924	7,906,514
Total interest and fees income	1,188,862,590	1,333,563,528
Interest and fees expenses
Interest expenses on interest-bearing borrowings	(583,589,934)	(570,366,896)
Total interest and fees expenses	(583,589,934)	(570,366,896)
Net interest and fees income	605,272,656	763,196,632
Interest income charged to sales partners	89,501,328	22,259,910
Collaboration cost for sales partners	(241,162,974)	(306,281,841)
Net interest and fees income after collaboration cost	453,611,010	479,174,701
Provision for credit losses (net of increase in guaranteed recoverable assets of RMB285,613,359 and RMB544,712,308 for period ended September 30, 2021 and 2022, respectively)	(154,240,697)	(30,054,230)
Net interest and fees income after collaboration cost and provision for credit losses	299,370,313	449,120,471
Realized gains on sales of investments, net	16,933,615	10,053,417
Net gains on sales of loans	51,040,366	17,878,084
Other gains, net	29,606,528	11,624,150
Total non-interest incomes	97,580,509	39,555,651
Operating expenses
Employee compensation and benefits	(141,421,960)	(148,752,761)
Share-based compensation expenses	(4,330,701)	(14,074,776)
Taxes and surcharges	(24,822,600)	(25,658,316)
Operating lease cost	(10,764,863)	(11,537,679)
Other expenses	(73,029,230)	(74,584,462)
Total operating expenses	(254,369,354)	(274,607,994)
Income before income tax expense	142,581,468	214,068,127
Income tax expense	(35,367,175)	(44,212,239)
Net income	¥ 107,214,293	¥ 169,855,888
Earnings per share
Basic (in Yuan Renminbi per share)	¥ 0.08	¥ 0.12
Diluted (in Yuan Renminbi per share)	¥ 0.07	¥ 0.11
Other comprehensive (losses)/income
Net unrealized income on investment securities
Foreign currency translation adjustment	18,747,600	(1,618,941)
Comprehensive income	¥ 125,961,893	¥ 168,236,947

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Statements of Comprehensive Income (Parentheticals) - CNY (¥)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Net of increase in guaranteed recoverable assets	¥ 544,712,308	¥ 285,613,359

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Cash Flows - CNY (¥)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Statement of Cash Flows [Abstract]
Net income	¥ 107,214,293	¥ 169,855,888
Provision for credit losses	154,240,697	30,054,231
Depreciation and amortization	1,800,560	3,095,009
Share-based compensation expenses	4,330,701	14,074,776
Net losses/(gains) on disposal of property and equipment	21,816	(8)
Foreign exchange gains	(11,112,960)	(681,053)
Deferred tax benefit	(86,048,732)	(116,124,224)
Gains on sale of loans	(51,040,366)	(17,878,084)
Profit and loss arising from fair value changes	497,931	(4,969,838)
Originations and purchases	(197,060,281)	(141,704,162)
Proceeds from sales and paydowns of loans originally classified as held for sale	1,127,746,992	692,112,844
Deposits	21,708,726	(43,591,028)
Credit risk mitigation position	13,522,188	197,441,382
Other operating assets	(78,139,569)	(90,535,173)
Other operating liabilities	(43,905,332)	(18,741,008)
Net cash provided by operating activities	963,776,664	672,409,552
Loans originated, net of principal collected	(2,274,556,277)	(2,374,649,478)
Proceeds from sales of investment securities	6,824,586,146	6,384,280,000
Cash received from disposal of investment in equity securities		10,000,000
Proceeds from disposal of property and equipment and intangible assets	240,650	756,502
Proceeds from sales of loans	879,272,084	233,211,700
Purchases of investment securities	(6,707,890,132)	(7,412,337,000)
Purchases of property, equipment and intangible assets	(1,517,511)	(2,794,341)
Net cash used in investing activities	(1,279,865,040)	(3,161,532,617)
Proceeds from interest-bearing borrowings	1,330,828,813	5,188,650,357
Repurchase of ordinary shares	(68,089,911)
Repayment of interest-bearing borrowings	(1,816,025,780)	(2,696,054,251)
Net cash provided by/(used in) financing activities	(553,286,878)	2,492,596,106
Net increase/(decrease) in cash, cash equivalents and restricted cash	(869,375,254)	3,473,041
Cash, cash equivalents and restricted cash at the beginning of year	2,231,437,361	1,960,922,758
Effect of exchange rate change on cash, cash equivalents and restricted cash	11,180,659	(253,222)
Cash, cash equivalents and restricted cash at the end of year	1,373,242,766	1,964,142,577
Supplemental disclosures of cash flow information:
Income taxes paid	89,711,389	93,793,810
Interest expense paid	¥ 585,620,291	¥ 629,718,004

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Changes in Shareholders’ Equity - CNY (¥)	Ordinary Shares	Treasury Stock	Additional paid-in capital	Accumulated other comprehensive income/(losses)	Retained earnings	Total
Balance at Dec. 31, 2020	¥ 916,743		¥ 999,662,882	¥ (18,456,546)	¥ 2,759,127,799	¥ 3,741,250,878
Net income					169,855,888	169,855,888
Foreign currency translation adjustment				(1,618,941)		(1,618,941)
Share-based compensation			14,074,776			14,074,776
Balance at Sep. 30, 2021	916,743		1,013,737,658	(20,075,487)	2,928,983,687	3,923,562,601
Balance at Dec. 31, 2021	916,743		1,018,429,249	(25,393,515)	2,824,335,263	3,818,287,740
Repurchase of ordinary shares		(68,089,911)				(68,089,911)
Net income					107,214,293	107,214,293
Foreign currency translation adjustment				18,747,601		18,747,601
Share-based compensation			4,330,701			4,330,701
Balance at Sep. 30, 2022	¥ 916,743	¥ (68,089,911)	¥ 1,022,759,950	¥ (6,645,914)	¥ 2,931,549,556	¥ 3,880,490,424

Basic of Presentation

Basic of Presentation	9 Months Ended
	Sep. 30, 2022
Summary of significant accounting policies [Abstract]
BASIC OF PRESENTATION	1. BASIC OF PRESENTATION Basis of preparation The accompanying unaudited interim condensed consolidated balance sheet as of September 30, 2022, the unaudited interim condensed consolidated statements of comprehensive loss for the nine months ended September 30, 2021 and 2022, the cashflows for the nine months ended September 30, 2021 and 2022, and the related footnote disclosures are unaudited. These unaudited interim condensed consolidated financial statements of the Company have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“U.S. GAAP”) for interim financial information using accounting policies that are consistent with those used in the preparation of the Company’s audited consolidated financial statements for the year ended December 31, 2021. Accordingly, these unaudited interim condensed consolidated financial statements do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. In the opinion of management, the accompanying unaudited interim condensed consolidated financial statements contain all normal recurring adjustments necessary to present fairly the financial position, operating results and cash flows of the Company for each of the periods presented. The results of operations for the nine months ended September 30, 2022 are not necessarily indicative of results to be expected for any other interim period or for the full year of 2022. The consolidated balance sheet as of December 31, 2021 was derived from the audited consolidated financial statements at that date but does not include all of the disclosures required by U.S. GAAP for annual financial statements. These unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements for the year ended December 31, 2021. Variable interest entities (“VIEs”) Structured funds The Group grants loans to customers through structured funds set up by trust companies. The assets of the structured funds can only be used to settle obligations of consolidated VIEs. The Group is general partner of the funds, promising the expected returns for limited partners, and providing credit enhancement on the loans to customers under the funds. The Group is also the manager of the funds, making decisions in the loan origination process. The Group is the primary beneficiary of the funds as it has the power to direct the activities that most significantly impact the economic performance of the funds and it has obligation to absorb losses of the funds that could potentially be significant to the funds or the right to receive benefits from the funds that could potentially be significant to the funds. The Group consolidates the structured funds as it is the primary beneficiary of the funds as of September 30, 2022.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Summary of significant accounting policies [Abstract]
Summary of significant accounting policies	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Recently issued accounting standards ASU 2022-02 - Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures The ASU 2022-02 is to be adopted on a prospective basis and will be effective for the Group on January 1, 2023, although early adoption is permitted. Adoption of the accounting standard is not expected to have an impact on the Group’s operating results or financial position. ASU 2022-03 -Accounting Standards Update No. 2022-03—Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions The ASU 2022-03 is to be adopted on a prospective basis and will be effective for the Group on January 1, 2024, although early adoption is permitted. Adoption of the accounting standard is not expected to have an impact on the Group’s operating results or financial position, as the Company excludes such restrictions when valuing equity securities. (b) Principles of consolidation The accompanying unaudited condensed consolidated financial statements include the unaudited condensed financial statements of the Group, its subsidiaries and consolidated VIEs. All intercompany transactions and balances have been eliminated in consolidation. The Group accounts for investments over which it has significant influence but not a controlling financial interest using the equity method of accounting. (c) Currency translation for financial statements presentation The Group uses Renminbi (“RMB”) as its reporting currency. The United States Dollar (“USD”) is the functional currency of the Company incorporated in Cayman and the Group’s subsidiary Sincere Fame incorporated in British Virgin Islands, and the Hong Kong Dollar (“HKD”) is the functional currency of the Group’s subsidiary China Financial Services Group Limited incorporated in Hong Kong and the RMB is the functional currency of the Group’s PRC subsidiaries. The financial statements of the Group are translated from the functional currency to the reporting currency, RMB. Assets and liabilities of the subsidiaries are translated into RMB using the exchange rate in effect at each balance sheet date. Income and expenses items are generally translated at the average exchange rates prevailing during the period. Foreign currency translation adjustments arising from these are accumulated as a separate component of shareholders’ deficit on the unaudited condensed consolidated financial statements. The resulting exchange differences are recorded in the unaudited condensed consolidated statements of comprehensive income. (d) Use of estimates The preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include, allowance for loans principal, interest and financing service fee receivables, guarantee assets, the valuation allowance for deferred tax assets, unrecognized tax benefits, the indefinite reinvestment assertion, guarantee liabilities, the fair value of investment securities and the fair value of share-based compensation. (e) Revenue recognition Interest and financing service fees on loans which are amortized over the contractual life of the related loans are recognized in unaudited condensed consolidated statements of comprehensive income in accordance with ASC 310 using the effective interest method. Service fees under commercial bank partnership is recognized in accordance with ASC 606 when following conditions are met: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The criteria of revenue recognition as they relate to each of the following major revenue generating activities are described below: (i) Interest and financing service fees on loans Interest and financing service fees on loans, which include financing service fees on loans, are collected from borrowers for loans and related services. Interest and financing service fees on loans include the amortization of any discount or premium or differences between the initial carrying amount of an interest-bearing asset and its amount at maturity calculated using the effective interest basis. The effective interest method is a method of calculating the amortized cost of a financial asset and of allocating the interest and financing service fees on loans over the years. The effective interest rate is the rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial instrument. When calculating the effective interest rate, the Group estimates cash flows considering all contractual terms of the financial instrument but does not consider future credit losses. Interest on the impaired assets is recognized using the rate of interest used to discount future cash flows. (ii) Service fees under commercial bank partnership The Group charges certain percentage of the loan granted under the commercial bank partnership as service fees for its loan introduction service, guarantee service, post-loan service provided to the commercial banks. The loan introduction service fees are recognized at the point of time when the loan agreements between commercial banks and the borrowers are effective, and the post-loan service fees and the guarantee service fees are recognized over the period of the loan terms and guarantee terms, respectively. (iii) Interest income charged to sales partners In the event of a loan defaults and the sales partner chooses to repurchase such loan in installments, the Group charges certain percentage of the loan as the interest income charged to sales partners. (iv) Realized gains/(losses) on sales of investments Realized gains/(losses) consist of realized gains and losses from the sale of investment securities, presented on a net basis. (v) Net gains/(losses) on sales of loans Net gains/(losses) on sales of loans refer to any gains and losses from the disposal of loans which is accounted for as a sale under ASC 860. (vi) Gains on confiscation of credit risk mitigation positions (or “CRMPs”) Gains on confiscation of credit risk mitigation positions are recognized to the extent confiscated CRMPs exceed previously recognized allowance for loan losses and guarantee asset when sales partners surrender the CRMPs and the obligation of refunding the CRMPs is released. (f) Loans (i) On-balance sheet loans Loans are reported at their outstanding principal balances net of any unearned income and unamortized deferred fees and costs. Loan origination fees and certain direct origination costs are generally deferred and recognized as adjustments to income over the lives of the related loans. The Group facilitates credit to borrowers through structured funds which are considered as consolidated VIEs and the Group evaluated VIEs for consolidation in accordance with ASC 810. Providing credit strengthening arrangement since March 2018 for the loans to customers under the funds is one of the key factors to determine that the Group should consolidate the structured funds as it is the primary beneficiary of the funds. As a result, the loan principal remains on the Group’s unaudited condensed consolidated balance sheets, whilst the funds received from senior tranches holders are recorded as Other Borrowings in the Group’s unaudited condensed consolidated balance sheets as disclosed in Note 7(b). Non-accrual policies Loans principal, interest and financing service fee receivables are placed on non-accrual status when payments are 90 days contractually past due. When a loan principal, interest and financing service fee receivable is placed on non-accrual status, interest and financing service fees accrual cease. If the loan is non-accrual, the cost recovery method is used and cash collected is applied to first reduce the carrying value of the loan. Otherwise, interest income may be recognized to the extent cash is received. Loans principal, interest and financing service fee receivables may be returned to accrual status when all of the borrower’s delinquent balances of loans principal, interest and financing service fee have been settled and the borrower continue to perform in accordance with the loan terms for a period of at least six months. Charge-off policies For the year ended December 31, 2019, in order to align the Group’s charge-off policies with ASC 326-20-35-8 (superseded ASC 310-10-35-41), the Group revised its charge-off policies as follows: Loans principal, interest and financing service fee receivables are charged down to net realizable value (fair value of collaterals, less estimated costs to sell) when the Group has determined the remaining balance is uncollectable after exhausting all collection efforts. In order to comply with ASC 310 and ASC 326, the Group considers loans principal, interest and financing service fee receivables meeting any of the following conditions as uncollectable and charged-off: (i) death of the borrower; (ii) identification of fraud, and the fraud is officially reported to and filed with relevant law enforcement departments; (iii) sales of loans to third parties; (iv) settlement with the borrower, where the Group releases irrecoverable loans through private negotiations with the borrower where the borrower cannot repay the loan in full through self-funding or voluntary sale of the collateral; (v) disposal through legal proceedings, including but not limited to online arbitrations, judicial auctions and court enforcements; or (vi) loans are 180 days past due unless both well-secured and in the process of collection. Allowance for credit losses Allowance for credit losses represents management’s best estimate of probable losses inherent in the portfolio. Commencing January 1, 2020, CNFinance adopted ASC 326, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”, which replaced the incurred loss methodology for determining the provision for credit losses and allowance for credit losses (“ACL”) with an expected loss methodology that is referred to as the current expected credit loss (“CECL”) model. ASC 326 defines the ACL as a valuation account that is deducted from the amortized cost of a financial asset to present the net amount that management expects to collect on the financial asset over its expected life. All financial assets carried at amortized cost are in the scope of ASC 326, while assets measured at fair value are excluded. The allowance for credit losses is adjusted each period for changes in expected lifetime credit losses. The allowance for credit losses includes an asset-specific component and a statistically based component. The Group aggregates loans sharing similar risk characteristics into pools for purposes of measuring expected credit losses. Pools are reassessed periodically to confirm that all loans within each pool continue to share similar risk characteristics. Expected credit losses for loans that do not share similar risk characteristics with other financial assets are measured individually. Estimation of CECLs requires CNFinance to make assumptions regarding the likelihood and severity of credit loss events and their impact on expected cash flows, which drive the probability of default (PD), loss given default (LGD) and exposure at default (EAD) models. In its loss forecasting framework, ECL is determined primarily by utilizing models for the borrowers’ PD, LGD and EAD and the Group incorporates forward-looking information through the use of macroeconomic scenarios applied over the forecasted life of the assets. These macroeconomic scenarios include variables that have historically been key drivers of increases and decreases in credit losses. These variables include, but are not limited to, gross-domestic product rates, interest rates and consumer price indexes. The ACL for financial assets held at amortized cost is a valuation account that is deducted from, or added to, the amortized cost basis of the financial assets to present the net amount expected to be collected. When credit expectations change, the valuation account is adjusted with changes reported in provision for credit losses. If amounts previously charged off are subsequently expected to be collected, the Group may recognize a negative allowance, which is limited to the amount that was previously charged off. The asset-specific component is calculated under ASC 310-10-35, on an individual basis for the loans whose payments are contractually past due more than 90 days or which are considered impaired. A financial asset is collateral-dependent when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the sale or operation of the collateral. When a collateral-dependent financial asset is probable of foreclosure, the Group will measure the ACL based on the fair value of the collateral and we will measure the ACL based on the collateral’s net realizable value (fair value of collateral, less estimated costs to sell). Under the collaboration model, when the Group grants a loan through a trust plan, the loan is with the borrower and guarantee is entered into with a separate counterparty (the sales partner). As such, under the definition of ASC 326-20-20, the guarantee arrangement and lending arrangement would be considered freestanding arrangements. As sale partners will provide guarantee of the entire loan to the Group, collection for loss is probable and estimable when a loss on an insured loan is incurred and recognized. In this case, the Group will recognize guarantee loss recoverable asset in the amount that the Group determines is probable to receive from the guarantor with an offsetting entry to “provision for credit losses” when the Group concludes that the loss recovery is collectible. However, potential recovery that exceeds the recognized loss, if any, (gain contingency) will not be recognized until cash is received. Therefore, the amounts estimated to be recoverable from the proceeds of guarantees will be reported as a separate asset (guarantee asset) in the balance sheet. The increase in guaranteed recoverable assets are included in the income statement as a reduction of the “provision for credit losses”, separate disclosure of the increase in guaranteed recoverable assets will be included in the rollforward of the “allowance for credit losses”. The income statement caption will be modified as “provision for credit losses, net of increase in increase in guaranteed recoverable assets. Loans held-for-sale Loans held-for-sale are measured at the lower of cost or fair value, with valuation changes recorded in noninterest revenue. The valuation is performed on an individual loan basis. Loan origination fees or costs and purchase price discounts or premiums are deferred in a contra loan account until the related loan is sold. The deferred fees or costs and discounts or premiums are adjustments to the basis of the loan and therefore are included in the periodic determination of the lower of cost or fair value adjustments. The loan is derecognized if the Group does not retain any risk and rewards after transferring the loan. Such transfer would be recorded as sales according to ASC 860-10-40-5. At the time of derecognition, any related loan loss allowance is released. Gains and losses on loans transfer as a sale are recognized in the noninterest income. (ii) Off-balance sheet loans For loans funded by the proceeds from third-party commercial banks, each underlying loan and borrower has to be approved by the third-party commercial banks individually. Once the loan is approved by and originated by the third-party commercial bank, the fund is provided by the third-party commercial bank to the borrower and a lending relationship between the borrower and the third-party commercial bank is established through a loan agreement. Effectively, the Group offers loan facilitation and matching services to the borrowers who have credit needs and the commercial banks who originate loans directly to borrowers referred by the Group. The Group continues to provide post-origination services to the borrowers over the term of the loan agreement. Under this scenario, the Group determines that it is not the legal lender or borrower in the loan origination and repayment process. Accordingly, the Group does not record loans principal, interest and financing service fee receivables arising from these loans nor interest-bearing borrowings to the third-party commercial banks. (g) Income tax Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and for operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Group recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50 percent likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Group classifies interest and penalties related to the liability for unrecognized tax benefits as income tax expense. (h) Share-based compensation The Group measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award and recognizes the cost over the period the employee is required to provide service in exchange for the award, which generally is the vesting period. The Group recognizes compensation cost using a front-loading approach for an award with only service conditions that have a graded vesting schedule over the requisite service period for the entire award, net of estimated forfeitures, provided that the cumulative amount of compensation cost recognized at any date at least equals the portion of the grant-date value of such award that is vested at that date. Forfeiture rates are estimated based on historical and future expectations of employee turnover rates. (p) Guarantee liabilities The estimated fair value of the guarantee liabilities at inception of the loans is determined based on a discounted cash flow model, but with reference to estimates of expected loss rates using CECL lifetime methodology. Subsequent to initial recognition, the guarantee liabilities continue to be reduced by recording a credit to net income as the guarantor is released from the guaranteed risk over the terms of the underlying loans, as “other gains, net” in the consolidated statements of comprehensive income. The expected credit losses of the guarantee are accounted for in addition to and separately from the guarantee liability accounted for under ASC 460. The contingent guarantee liabilities are determined using CECL lifetime methodology and recognized in full amount at loan inceptions. At each reporting date, the Group measures the contingent guarantee liabilities of the underlying loans, on a portfolio basis, and the relevant credit losses of guarantee are recorded as “other gains, net” in the consolidated statements of comprehensive income. (i) Fair value measurements The Group uses valuation approaches that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Group determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels in accordance with ASU 2011-04 (see Note 3 to the unaudited condensed consolidated financial statements): ● Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date. ● Level 2 Inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. ● Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Measurements [Abstract]
Fair value measurements	3 Fair value measurements The level in the fair value hierarchy within which a fair value measurement in its entirety falls is based on the lowest level input that is significant to the fair value measurement in its entirety. In situations where there is little, if any, market activity for the asset or liability at the measurement date, the fair value measurement reflects management’s own judgments about the assumptions that market participants would use in pricing the asset or liability. Those judgments are developed by management based on the best information available in the circumstances. Fair Value Hierarchy Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market. Valuation techniques that are consistent with the market, income or cost approach, are used to measure fair value. Assets recorded at fair value on a recurring basis mainly include marketable securities. Additionally, from time to time, the Group records fair value adjustments on a nonrecurring basis. These nonrecurring adjustments typically involve application of LOCOM (the lower of cost or fair value) accounting, write-downs of individual assets or application of the measurement alternative for nonmarketable equity securities. Fair Value Measurements A description of the valuation techniques applied to the Group’s major categories of assets and liabilities measured at fair value is as follows. The Group determines fair value primarily based on pricing sources with reasonable levels of price transparency. Where quoted prices are available in an active market, the Group classifies the assets and liabilities within Level 1 of the valuation hierarchy. If quoted market prices are not available, fair value is primarily determined using pricing models using observable trade data, market data, quoted prices of securities with similar characteristics or discounted cash flows. Such instruments would generally be classified within Level 2 of the valuation hierarchy. The following table presents the Group’s fair value hierarchy for those assets measured at fair value on a recurring basis as of December 31, 2021 and September 30, 2022. September 30, 2022 Fair value Level 1 Level 2 Level 3 RMB RMB RMB RMB Wealth management products 584,738,005 302,608,884 282,129,121 - Total 584,738,005 302,608,884 282,129,121 - December 31, 2021 Fair value Level 1 Level 2 Level 3 RMB RMB RMB RMB Wealth management products 847,047,295 729,255,924 117,791,371 - Total 847,047,295 729,255,924 117,791,371 - The following table presents the Group’s fair value hierarchy for those assets measured at fair value on a non-recurring basis as of December 31, 2021 and September 30, 2022. September 30, 2022 Fair value Level 1 Level 2 Level 3 RMB RMB RMB RMB Loans (1) 657,992,453 - 657,992,453 - Loans held-for-sale (2) 11,694,198 - 11,694,198 - Equity securities (3) 24,010,000 - 24,010,000 - Total 693,696,651 - 693,696,651 - December 31, 2021 Fair value Level 1 Level 2 Level 3 RMB RMB RMB RMB Loans (1) 368,997,898 - 368,997,898 - Loans held-for-sale (2) 24,696,075 - 24,696,075 - Equity securities (3) 24,010,000 - 24,010,000 - Total 417,703,973 - 417,703,973 - (1) The Group records nonrecurring fair value adjustments to reflect partial write-downs that are based on the observable market price of the loan or current appraised value of the collateral. (2) Loans held for sale are held at LOCOM which may be written down to fair value on a nonrecurring basis. (3) Nonmarketable equity securities are accounted for using the measurement alternative and can be subject to nonrecurring fair value adjustments to record impairment. During the year ended December 31, 2021 and nine months ended September 30, 2022, there were no transfers between instruments in Level 1 and Level 2. The Group does not have level 3 instruments as of December 31, 2021 and September 30, 2022.

Loans Principal, Interest and F

Loans Principal, Interest and Financing Service Fee Receivables	9 Months Ended
	Sep. 30, 2022
Receivables [Abstract]
Loans principal, interest and financing service fee receivables	4 Loans principal, interest and financing service fee receivables Note December 31, September 30, RMB RMB Home equity loan: (i) Loans principal, interest and financing service fee receivables 9,412,717,366 9,259,642,529 Less: allowance for credit losses (a) - Individually assessed (61,479,897 ) (45,635,286 ) - Collectively assessed (914,370,954 ) (965,307,764 ) Subtotal (975,850,851 ) (1,010,943,050 ) Net loans principal, interest and financing service fee receivables of home equity loan 8,436,866,515 8,248,699,479 Corporate loan: (ii) Loans principal, interest and financing service fee receivables - 284,982,538 Less: allowance for credit losses - (6,136,295 ) Net loans principal, interest and financing service fee receivables of corporate loan - 278,846,243 Net loans principal, interest and financing service fee receivables 8,436,866,515 8,527,545,722 (i) Home equity loan (a) Allowance for credit losses The table below presents the components of allowances for loans principal, interest and financing service fee receivables by impairment methodology with the recorded investment as of September 30, 2021 and September 30, 2022. Nine months ended September 30, 2022 Allowance for Allowance for Total RMB RMB RMB As of January 1 914,370,954 61,479,897 975,850,851 Provision for credit losses 39,674,709 173,064,064 212,738,773 Charge-offs (1) (193,168,795 ) (242,947,778 ) (436,116,573 ) Increase in guaranteed recoverable assets 204,430,896 25,223,738 229,654,634 Recoveries - 28,815,365 28,815,365 As of September 30 965,307,764 45,635,286 1,010,943,050 Net loans principal, interest and financing service fee receivables 8,154,672,302 94,027,177 8,248,699,479 Recorded investment 9,119,980,066 139,662,463 9,259,642,529 Nine months ended September 30, 2021 Allowance for Allowance for Total Subtotal Subtotal RMB RMB RMB As of January 1 535,967,177 71,998,321 607,965,498 Provision for credit losses (116,550,594 ) 128,060,127 11,509,533 Charge-offs (1) (1,198,134 ) (243,302,896 ) (244,501,030 ) Increase in guaranteed recoverable assets 81,609,992 155,066,460 236,676,452 Recoveries - 23,577,905 23,577,905 As of September 30 499,828,441 135,399,917 635,228,358 Net loans principal, interest and financing service fee receivables 9,758,829,979 251,002,604 10,009,832,583 Recorded investment 10,258,658,420 386,402,521 10,645,060,941 (1) In 2020, the Group revised its charge-off policy so that loans that are 180 days past due are charged down to net realizable value (fair value of collateral, less estimated costs to sell) unless the loans are both well-secured and in the process of collection. The Group charges off loans principal, interest and financing service fee receivables if the remaining balance is considered uncollectable. Recovery of loans principal, interest and financing service fee receivables previously charged off would be recorded when received. For the description of the Group’s related accounting policies of allowance for credit losses, see Note 2(f) Loans. The following tables present the aging of allowance for credit losses as of September 30, 2022. Total 1 - 30 days 31 - 90 days 91 - 180 days Total RMB RMB RMB RMB RMB The collaboration model First lien 237,910,121 77,116,334 55,178,321 8,899,717 379,104,493 Second lien 413,700,563 101,187,722 79,975,921 36,735,569 631,599,775 Subtotal 651,610,684 178,304,056 135,154,242 45,635,286 1,010,704,268 The traditional facilitation model First lien 5,703 - 149,955 - 155,658 Second lien 83,124 - - - 83,124 Subtotal 88,827 - 149,955 - 238,782 Allowance for credit losses 651,699,511 178,304,056 135,304,197 45,635,286 1,010,943,050 The following tables present the aging of allowance for credit losses as of December 31,2021. Total 1 - 30 days 31 - 90 days 91 - 180 days Total RMB RMB RMB RMB RMB The collaboration model First lien 189,814,922 86,537,327 66,784,464 31,394,514 374,531,227 Second lien 340,800,002 124,542,266 80,395,050 26,996,820 572,734,138 Subtotal 530,614,924 211,079,593 147,179,514 58,391,334 947,265,365 The traditional facilitation model First lien 5,618,913 3,503,613 4,980,213 1,574,208 15,676,947 Second lien 5,491,292 2,285,562 3,617,330 1,514,355 12,908,539 Subtotal 11,110,205 5,789,175 8,597,543 3,088,563 28,585,486 Allowance for credit losses 541,725,129 216,868,768 155,777,057 61,479,897 975,850,851 (b) Loan delinquency and non-accrual details The following tables present the aging of past-due loan principal and financing service fee receivables as of September 30, 2022. Total 1 - 30 days 31 - 90 days 91 - 180 days 181 - 270 days 271 - 360 days over 360 days Total Total RMB RMB RMB RMB RMB RMB RMB RMB RMB The collaboration model First lien 3,031,554,612 276,591,737 190,294,075 16,290,631 6,932,328 5,243,293 18,862,267 3,545,768,943 47,328,519 Second lien 4,981,904,634 362,675,696 275,220,859 60,098,879 10,763,925 6,698,897 13,297,348 5,710,660,238 90,859,049 Subtotal 8,013,459,246 639,267,433 465,514,934 76,389,510 17,696,253 11,942,190 32,159,615 9,256,429,181 138,187,568 The traditional facilitation model First lien 502,127 - 524,474 - - 209,094 218,082 1,453,777 427,176 Second lien 711,852 - - - - - 1,047,719 1,759,571 1,047,719 Subtotal 1,213,979 - 524,474 - - 209,094 1,265,801 3,213,348 1,474,895 Loans principal, interest and financing service fee receivables 8,014,673,225 639,267,433 466,039,408 76,389,510 17,696,253 12,151,284 33,425,416 9,259,642,529 139,662,463 The following tables present the aging of past-due loan principal and financing service fee receivables as of December 31, 2021. Total 1 - 30 days 31 - 90 days 91 - 180 days 181 - 270 days 271 - 360 days over 360 days Total loans Total RMB RMB RMB RMB RMB RMB RMB RMB RMB The collaboration model First lien 2,814,226,880 325,090,831 230,622,938 65,080,342 6,979,995 5,972,352 24,768,894 3,472,742,232 102,801,583 Second lien 5,030,913,080 467,836,400 276,784,712 52,043,750 7,455,656 6,468,134 17,308,803 5,858,810,535 83,276,343 Subtotal 7,845,139,960 792,927,231 507,407,650 117,124,092 14,435,651 12,440,486 42,077,697 9,331,552,767 186,077,926 The traditional facilitation model First lien 20,814,948 6,532,393 8,334,398 4,887,949 285,023 122,845 653,689 41,631,245 5,949,506 Second lien 21,237,555 4,238,098 6,081,004 5,027,879 360,727 673,625 1,914,466 39,533,354 7,976,697 Subtotal 42,052,503 10,770,491 14,415,402 9,915,828 645,750 796,470 2,568,155 81,164,599 13,926,203 Loans principal, interest and financing service fee receivables 7,887,192,463 803,697,722 521,823,052 127,039,920 15,081,401 13,236,956 44,645,852 9,412,717,366 200,004,129 Loans principal, interest and financing service fee receivables are placed on non-accrual status when payments are 90 days contractually past. Any interest accrued on non-accrual loans is reversed at 90 days and charged against current earnings, and interest is thereafter included in earnings only to the extent actually received in cash. When there is doubt regarding the ultimate collectability of principal, all cash receipts are thereafter applied to reduce the recorded investment in the loan. (c) Impaired loans (1) Impaired loans summary Recorded investment Unpaid balance Impaired loans Impaired loans with related allowance for credit losses Impaired loans without related allowance for credit losses Related allowance for credit losses RMB RMB RMB RMB RMB First lien 43,112,851 47,755,694 13,977,803 33,777,892 8,899,717 Second lien 89,049,877 91,906,769 57,305,289 34,601,479 36,735,569 As of September 30, 2022 132,162,728 139,662,463 71,283,092 68,379,371 45,635,286 First lien 102,914,225 108,751,090 64,871,825 43,879,265 32,968,721 Second lien 88,073,367 91,253,039 50,995,087 40,257,952 28,511,176 As of December 31, 2021 190,987,592 200,004,129 115,866,912 84,137,217 61,479,897 Impaired loans are those loans where the Group, based on current information and events, believes it is probable all amounts due according to the contractual terms of the loan will not be collected. All amounts due according to the contractual terms means that both the contractual interest payments and the contractual principal payments of a loan will be collected as scheduled in the loan agreement. Impaired loans without an allowance generally represent loans that the fair value of the underlying collateral meets or exceeds the loan’s amortized cost. (2) Average recorded investment in impaired loans Nine months ended September 30, 2021 Nine months ended September 30, 2022 Average recorded investment Interest and fees income recognized Average recorded investment Interest and fees income recognized RMB RMB RMB RMB First lien 209,780,721 40,805,772 64,281,802 59,959,073 Second lien 204,379,990 42,672,917 86,125,497 63,190,093 Impaired loans 414,160,711 83,478,689 150,407,299 123,149,166 (i) Average recorded investment represents ending balance for the last three quarters and does not include the related allowance for credit losses. (ii) The interest and fees income recognized are those interest and financing service fees recognized related to impaired loans. All the amounts are recognized on cash basis. No debt restructuring in which contractual terms of loans are modified, has occurred during the period from January 1 to September 30, 2021 and 2022. The Group transferred loans with carrying amounts of RMB939,112,508 and RMB1,896,205,225 to third party investors, including sales partners, and recorded the transfers as sales for the period from January 1 to September 30, 2021 and 2022, respectively. The Group recognized net gain of RMB17,878,084 and RMB51,040,366 from transfers accounted for as sales of loans for the period from January 1 to September 30, 2021 and 2022, respectively. The Group carries out pre-approval, review and credit approval of loans by professionals for credit risk arising from micro credit business. During the post-transaction monitoring process, the Group conducts a visit of customers regularly after disbursement of loans, and conducts on-site inspection when the Group considers it is necessary. The review focuses on the status of the collateral. The Group delegates sales partners to assist in the aforementioned credit risk assessment activities. The Group adopts a loan risk classification approach to manage the loan portfolio risk. Loans are classified as non-impaired and impaired based on the different risk level. When one or more event demonstrates there is objective evidence of impairment and causes losses, corresponding loans are considered to be classified as impaired. The allowance for credit losses on impaired loans are determined with an expected loss methodology that is referred to as the current expected credit loss (“CECL”) model. The Group applies a series of criteria in determining the classification of loans. The loan classification criteria focus on a number of factors, including (i) the borrower’s ability to repay the loan; (ii) the borrower’s repayment history; (iii) the borrower’s willingness to repay; (iv) the net realizable value of any collateral; and (v) the prospect for the support from any financially responsible guarantor. The Group also takes into account the length of time for which payments of principal and interest on a loan are overdue. (d) Loans held-for-sale Loans held-for-sale are measured at the lower of cost or fair value, with valuation changes recorded in noninterest revenue. The valuation is performed on an individual loan basis. Loans transferred to held-for-sale category were RMB733,975,352 (including RMB24,696,075 measured at fair value) and RMB1,016,173,196 (including RMB11,694,198 measured at fair value) as of December 31, 2021 and September 30, 2022, respectively. (ii) Corporate loan Corporate loan represents loans granted to businesses to assist its funding of operating costs and capital expenditures, which are not collateralized. Net loans principal, interest and financing service fee receivables of corporate loan were nil

Investment Securities

Investment Securities	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Investment securities	5 Investment securities Investment securities consist of equity securities and debt securities. (a) Equity securities The carrying amount and fair value of the equity securities by major security type and class of security as of December 31, 2021 and September 30, 2022 was as follows: Aggregate Profits and Aggregate RMB RMB RMB As of September 30, 2022: Wealth management products 584,077,496 660,509 584,738,005 Total 584,077,496 660,509 584,738,005 Aggregate Profits and Aggregate RMB RMB RMB As of December 31, 2021: Wealth management products 845,888,854 1,158,441 847,047,295 Total 845,888,854 1,158,441 847,047,295 The investments in asset management products principally invests in bonds listed and traded between banks and exchanges, monetary market instruments, treasury bonds, convertible or exchangeable bonds and other fixed income financial instruments. Wealth management products are investment products issued by commercial banks and other financial institutions in China. The wealth management products invest in a pool of liquid financial assets in the interbank market or exchange, including debt securities, asset backed securities, interbank lending, reverse repurchase agreements and bank deposits. The products can be redeemed on weekdays on demand. (b) Debt securities Amortized cost Impairment Net RMB RMB RMB As of September 30, 2022: Investment in partnership 383,003,311 (7,845,764 ) 375,157,547 Corporate bond 4,518,925 (1,999,425 ) 2,519,500 Total 387,522,236 (9,845,189 ) 377,677,047 Amortized cost Impairment Net RMB RMB RMB As of December 31, 2021: Investment in partnership 246,400,000 (5,403,084 ) 240,996,916 Total 246,400,000 (5,403,084 ) 240,996,916 The debt securities are in the form of investments in partnership and corporate bond. The partnerships guarantee investment principle and a fixed interest income to the Group. The Group has the intent and ability to hold the debt securities to maturity or payoff.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	9 Months Ended
	Sep. 30, 2022
Intangible Assets and Goodwill [Abstract]
Intangible assets and goodwill	6 Intangible assets and goodwill (a) Intangible assets December 31, 2021 September 30, 2022 Gross carrying Accumulated Net carrying Gross carrying Accumulated Net carrying RMB RMB RMB RMB RMB RMB Amortized intangible assets: Software 10,793,974 (9,754,602 ) 1,039,372 10,793,974 (10,148,968 ) 645,006 Cooperation agreement 5,030,000 (5,030,000 ) - 5,030,000 (5,030,000 ) - Total amortized intangible assets 15,823,974 (14,784,602 ) 1,039,372 15,823,974 (15,178,968 ) 645,006 Unamortized intangible assets: Trademarks 2,970,000 2,970,000 As of December 31, 2021 and September 30, 2022, accumulated amortization was RMB14,784,602 and RMB15,178,968, respectively. Below table provides the current year and estimated future amortization expense for amortized intangible assets. The Group based its projections of amortization expense shown below on existing asset balances as of September 30, 2022. Future amortization expense may vary from these projections. Software RMB Nine months ended September 30, 2022 (actual) 394,366 Remainder of 2022 136,023 Estimate for year ended December 31, 2023 508,393 2024 590 2025 - 2026 - 2027 -

Interest-Bearing Borrowings

Interest-Bearing Borrowings	9 Months Ended
	Sep. 30, 2022
Interest-Bearing Borrowings Disclosure [Abstarct]
Interest-bearing borrowings	7 Interest-bearing borrowings (a) Borrowings under agreements to repurchase Financial assets sold under agreements to repurchase are effectively short-term collateralized borrowings. In these transactions, the Group receives cash in exchange for transferring financial assets as collateral and recognizes an obligation to reacquire the financial assets for cash at the transaction’s maturity. These types of transactions create risks, including (1) fair value of the financial assets transferred may decline below the amount of obligation to reacquire the financial assets, and therefore create an obligation to pledge additional amounts, or to replace collaterals pledged, and (2) the Group does not have sufficient liquidity to repurchase the financial assets at the transaction’s maturity. Note Fixed interest Term December 31, September 30, RMB RMB Repurchase agreements Financial institution (i) 13.8 % Within 1 year 45,250,000 5,965,976 Interest payable Financial institution (i) - - Total repurchase agreements 45,250,000 5,965,976 (i) Funds obtained from financial institutions On July 27, 2021, the Group transferred loan principals, interests and financing service fee receivables with carrying amount of RMB64,640,192 to a third-party transferee, Guangdong Yuehai Asset Management Co., Ltd. (“Yuehai Asset”), an unrelated third party. However, in accordance with ASC 860, Transfers and Servicing, the right to earnings is not derecognized upon transfer as the Group is required to repurchase the right to earnings one year after the date of transfer. As of December 31, 2021, the amount of funds obtained from Yuehai Asset and the interest payable are 45,250,000 and nil nil On August 29, 2022, the Group transferred loan principals, interests and financing service fee receivables with carrying amount of RMB5,965,976 to a third-party transferee, Pingan Puhui Lixin Asset Management Co., Ltd (“Pingan Puhui”), an unrelated third party. However, in accordance with ASC 860, Transfers and Servicing, the right to earnings is not derecognized upon transfer as the Group is required to repurchase the right to earnings one year after the date of transfer. As of September 30, 2022, the amount of funds obtained from Pingan Puhui and the interest payable are 5,965,976 and nil The below table provides the underlying collateral types of the gross obligations under repurchase agreements. For more information about pledged assets, refer to the Note 7(c). December 31, September 30, RMB RMB Underlying collateral types of gross obligations Repurchase agreements: Loans principal, interest and financing service fee receivables 45,250,000 5,965,976 Total repurchase agreements 45,250,000 5,965,976 The below table provides the contractual maturities of the gross obligations under repurchase agreements. Overnight Up to 30 days 30 to 90 days Greater than Total gross obligations RMB RMB RMB RMB RMB Repurchase agreements As of September 30,2022 - - - 5,965,976 5,965,976 As of December 31,2021 - - - 45,250,000 45,250,000 (b) Other borrowings Note Fixed interest Term December 31 September 30 RMB RMB Short-term: Investors of consolidated VIEs (i) 6.3% - 10.5 % Less than 1 year 4,654,388,213 5,328,338,540 Long-term: Investors of consolidated VIEs (i) 7.0% - 11.5 % Within 5 years 3,330,334,482 2,210,471,212 Interest payable to Investors of consolidated VIEs (i) 57,169,385 55,515,337 Total 8,041,892,080 7,594,325,089 (i) The financial liabilities arising from the VIEs with underlying investments in loans to customers are classified as payable in these unaudited condensed consolidated financial statements. It is because the Group has an obligation to pay senior tranches holders upon maturity dates based on the related terms of those consolidated structured funds. As of September 30, 2022, the borrowings from VIEs have principal RMB7,594,325,089, bearing interests from 6.3% to 11.5% per year. Aggregate annual maturities of long-term borrowing obligations (based on final maturity dates) are as follows: September 30, 2022 2023 2024 2025 2026 2027 Thereafter Total RMB RMB RMB RMB RMB RMB Investors of consolidated VIEs 1,048,206,017 479,441,307 25,823,888 - - 657,000,000 2,210,471,212 (c) Pledged assets The Group pledges certain assets to secure borrowings under agreements to repurchase and other borrowings. The table provides the total carrying amounts of pledged assets by asset types . December 31, September 30, RMB RMB Loans principal, interest and financing service fee receivables 64,640,192 5,965,976 Total 64,640,192 5,965,976 Amounts presented above include carrying value of RMB64,640,192 and RMB5,965,976 in collateral for repurchase agreements as of December 31, 2021 and September 30, 2022, respectively.

Credit Risk Mitigation Position

Credit Risk Mitigation Position	9 Months Ended
	Sep. 30, 2022
Credit Risk Mitigation Position Disclosure [Abstract]
Credit risk mitigation position	8 Credit risk mitigation position December 31, September 30, RMB RMB Balance at the beginning of the year/period 1,209,729,138 1,348,449,426 Increase during the year/period 1,203,458,816 774,322,489 Decrease during the year/period (1,052,004,847 ) (713,207,923 ) Confiscation during the year/period (12,733,681 ) (47,592,378 ) Balance at the end of the year/period 1,348,449,426 1,361,971,614 Under the collaboration model, the Group collaborates with sales partners who are dedicated to introduce the Group’s loan services to prospective borrowers. The sales partners need to place security deposits ranging from 10%-25% of the loans issued to the borrowers introduced by them (such contribution, the “credit risk mitigation position”) to the Group. The credit risk mitigation position will be transferred into an account designated by the Group and is fully refundable upon repayment of the loan the credit risk mitigation position is associated with.

Accumulated other comprehensive

Accumulated other comprehensive losses	9 Months Ended
	Sep. 30, 2022
Stockholders' Equity Note [Abstract]
Accumulated other comprehensive losses	9 Accumulated other comprehensive losses Balance as of Other Balance as of RMB RMB RMB Foreign currency translation adjustment (RMB) (18,456,546 ) (1,618,941 ) (20,075,487 ) Balance as of Other Balance as of RMB RMB RMB Foreign currency translation adjustment (RMB) (25,393,515 ) 18,747,601 (6,645,914 ) The amounts reclassified out of accumulated other comprehensive income represent realized gains on the investment securities upon their sales, which were then recorded in “realized gains/(losses) on sales of investments, net ” in the unaudited condensed consolidated statements of comprehensive income.

Interest and Financing Service

Interest and Financing Service Fees on Loans	9 Months Ended
	Sep. 30, 2022
Interest and financing service fees on loans [Abstract]
Interest and financing service fees on loans	10 Interest and financing service fees on loans Interest and financing service fees on loans, which include financing service fees on loans, are recognized in the unaudited condensed consolidated statements of comprehensive income using the effective interest method. Interest income on loans which is recognized with contractual interest rate were RMB1,319,660,155 and RMB1,178,852,531 for the period from January 1 to September 30, 2021 and 2022, respectively. Financing service fees on loans, are deferred and amortized over the contractual life of the related loans utilizing the effective interest method. Financing service fee on loans were RMB5,996,859 and RMB1,254,135 for the period from January 1 to September 30, 2021 and 2022, respectively. Interest and fees income and costs from traditional facilitation model and new collaboration model for the period from January 1, 2022 to September 30, 2022 are listed as below: Nine months ended September 30, 2022 Traditional Collaboration Total RMB RMB RMB Interest and financing service fees on loans 24,901,747 1,155,204,919 1,180,106,666 Interests on deposits with banks 530,044 8,225,880 8,755,924 Interest expense on interest-bearing borrowings (7,859,919 ) (575,730,015 ) (583,589,934 ) Net interest and fees income 17,571,872 587,700,784 605,272,656 Interest income charged to sales partners - 89,501,328 89,501,328 Collaboration cost for sales partners - (241,162,974 ) (241,162,974 ) Net interest and fees income after collaboration cost 17,571,872 436,039,138 453,611,010 Provision for credit losses 82,716,654 (236,957,351 ) (154,240,697 ) Net interest and fees income after collaboration cost and provision for credit losses 100,288,526 199,081,787 299,370,313

Interest Income Charged to Sale

Interest Income Charged to Sales Partners	9 Months Ended
	Sep. 30, 2022
Interest Income Charged to Sales Partners [Abstract]
Interest income charged to sales partners	11 Interest income charged to sales partners In the event of a loan defaults and the sales partner chooses to repurchase such loan in installments, the Group charges certain percentage of the loan as the interest income charged to sales partners.

Collaboration Cost for Sales Pa

Collaboration Cost for Sales Partners	9 Months Ended
	Sep. 30, 2022
Collaboration Cost For Sales Partners Abstract
Collaboration cost for sales partners	12 Collaboration cost for sales partners The Group started to develop a new collaboration model in December 2018. Under such model, the Group collaborates with sales partners who are dedicated to introduce CNFinance Holdings Limited and its loan services to prospective borrowers. The unique feature of this collaboration model is that the sales partners will be required to deposit an amount equal to 10% - 25% of the loans issued to the borrowers introduced by them. In return, the Group will pay collaboration cost as sales incentives to the sales partners.

Net Gains on Sales of Loans

Net Gains on Sales of Loans	9 Months Ended
	Sep. 30, 2022
Net (Losses)/Gains on Sales of Loans [Abstract]
Net gains on sales of loans	13 Net gains on sales of loans As mentioned in Note 4, the Group transferred the delinquent loans to third parties. Net gains on sale of loans which summarizes the received from sales of loans are net gains of RMB17,878,084 and RMB51,040,366 for the period from January 1 to September 30, 2021 and 2022, respectively.

Other Expenses

Other Expenses	9 Months Ended
	Sep. 30, 2022
Other Expenses [Abstract]
Other expenses	14 Other expenses Nine months ended September 30, 2021 2022 RMB RMB Advertising and promotion expenses 22,645,530 29,003,981 Litigation and Attorney fees 14,292,490 12,776,243 Consulting fees 7,082,325 7,953,685 Entertainment and travelling expenses 7,136,849 6,837,373 Office and commute expenses 6,767,838 5,531,007 Directors and officers liability insurance 2,664,241 2,382,305 Depreciation and amortization 3,095,009 1,800,560 Communication expenses 3,249,141 1,721,714 Research and development expenses 1,233,165 415,703 Others 6,417,874 4,606,659 Total 74,584,462 73,029,230

Income Tax Expense

Income Tax Expense	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income tax expense	15 Income tax expense The reconciliation of the PRC statutory income tax rate of 25% to the effective income tax rate is as follows: Nine months ended September 30, 2021 2022 RMB RMB PRC statutory income tax rate 25.00 % 25.00 % (Decrease)/increase in effective income tax rate resulting from: Effect of tax-free income (7.34 )% (0.18 )% Effect of non-deductible share option expense 1.64 % 0.76 % Effect of zero tax rate in foreign countries 0.19 % 0.27 % Effect of differential tax rates for non-PRC entities (0.14 )% (0.53 )% Effect of non-deductible expenses 0.28 % 0.34 % Changes in valuation allowance 0.66 % (0.61 )% Others 0.36 % (0.25 )% Effective income tax rate 20.65 % 24.80 % The Group’s only major jurisdiction is China where tax returns generally remain open and subject to examination by tax authorities for tax years 1999 onwards. The Group did not have any significant unrecognized tax benefits, and no interest and penalty expenses were recorded in the nine months ended September 30, 2021 and September 30, 2022.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings per share	16 Earnings per share The following table sets forth the computation of basic and diluted earnings per share for the nine months ended September 30, 2021 and 2022, for which the basic weighted average number of common shares are based on the 1,371,643,240 common shares issued by the Company, as if those shares were issued as of the earliest date presented. Nine months ended 2021 2022 RMB RMB Net income 169,855,888 107,214,293 Basic weighted average number of common shares outstanding 1,371,643,240 1,371,643,240 Effect of dilutive share options 137,172,125 132,236,758 Dilutive weighted average number of ordinary shares 1,508,815,365 1,503,879,998 Basic earnings per share 0.12 0.08 Diluted earnings per share 0.11 0.07 During the nine months ended September 30, 2021 and 2022, the Group issued 187,933,730 and nil

Share-Based Compensation Expens

Share-Based Compensation Expenses	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Share-based compensation expenses	17 Share-based compensation expenses (a) Description of share-based compensation arrangements On January 3, 2017, the Group adopted a new share incentive plan, or the 2017 Share Incentive Plan. Options to purchase 187,933,730 ordinary shares pursuant to the 2017 Share Incentive Plan were issued to certain management and employees. Accordingly, 60%, 20% and 20% of the award options shall vest on December 31, each of the years 2017 to 2019, respectively. Unless terminated earlier, the 2017 Share Incentive Plan will terminate automatically in 2022. On August 27, 2018, 2018 Share Incentive Plan (the “2018 Option”) for granting shares award of CNFinance Holdings Limited to certain management members and employees of the Group was issued to concurrently replace the 2017 Share Incentive Plan which granted Sincere Fame’s share. Except for the above mentioned change of grantor, all terms of the 2017 Share Incentive Plan and the 2018 Share Incentive Plan were the same. No change in the fair value, vesting conditions or the classification of the 2017 Share Incentive Plan and the 2018 Share Incentive Plan. In connection with the 2018 Option, 187,933,730 ordinary shares were issued to JPMorgan Chase Bank N.A. (the “Depositary”) as a reserve pool for future issuances upon the exercise of share options granted under the 2018 Option to the Group’s management members and employees. All shareholder rights of these 187,933,730 ordinary shares including but not limited to voting rights and dividend rights are unconditionally waived until the corresponding shares are exercised. On December 31, 2019, the Group granted options to certain management and employees to purchase 119,674,780 ordinary shares pursuant to the 2018 Share Incentive Plan (the “2019 Option”). Accordingly, 50%, 30% and 20% of the award options shall vest on December 31, each of the years 2020 to 2022, respectively, with expiration dates on December 31, each of the years 2025 to 2027. Share-based payment transactions with employees, such as share options are measured based on the grant date fair value of the equity instrument. The Group recognizes the compensation costs net of estimated forfeitures over the applicable vesting period. The estimate of forfeitures will be adjusted over the requisite service period to the extent that actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures will be recognized through a cumulative catch-up adjustment in the period of change and will also impact the amount of stock compensation expenses to be recognized in future periods. There were no market conditions associated with the share option grants. (b) Fair value of share options and assumptions The fair value of options granted to employees is determined based on a number of factors including valuations. In determining the fair value of equity instruments, the Group referred to valuation reports prepared by an independent third-party appraisal firm, based on data the Group provided. The valuation reports provided the Group with guidelines in determining the fair value of the equity instruments, but the Group is ultimately responsible for the determination of all amounts related to share-based compensation recorded in the financial statements. Excluding the options containing service vesting conditions, the Group calculated the estimated fair value of the options on the respective grant dates using a binomial option pricing model with assistance from independent valuation firms, with the following assumptions: Share awards Share awards Expected volatility 40 % 41.52 % Expected dividends - - Risk-free interest rate 3.10 % 3.12 % Expected term (in years) 5 5 Expected life (in years) 6 8 The contractual life of the share option is used as an input into the binomial option pricing model. Exercise multiple and post-vesting forfeit are incorporated into the model as well. 2018 Option When the options of the 2018 Option were issued, the Group’s shares had not been publicly traded and its shares were rarely traded privately. Therefore, the expected volatility is estimated based on the historical volatility of comparable entities with publicly traded shares for the period before the date of grant with length commensurate to contractual life of the options. Since the contractual life of the options is 6 years, the risk-free rate for the expected term of the options is determined based on the yield to maturity of China 6-year government bond at the date of grant. 2019 Option When the options of the 2019 Option were issued, the Group’s shares were already publicly traded. Since the shares have only been publicly traded for just over a year, the expected volatility is estimated based on the historical volatility of comparable entities with publicly traded shares for the period before the date of grant with length commensurate to contractual life of the options. The contractual life of the options is 6 years, 7 years and 8 years, respectively. Therefore, the risk-free rate for the expected term of the options is determined based on the yield to maturity of China 5-year, 7-year and 10-year government bond, using interpolation method, at the date of grant. The Group has not declared or paid any cash dividends on its capital stock and does not anticipate any dividend payments on its ordinary shares in the foreseeable future. If any of the assumptions used in the binomial option pricing model changes significantly, share-based compensation expenses for future awards may differ materially compared with the awards granted previously. A summary of share option activity under the 2018 Option is as follows: Number of Weighted exercise Weighted RMB RMB Balance, December 31, 2016 - - - Granted 187,933,730 - 1.27 Exercised - - - Surrendered - - - Balance, December 31, 2017 187,933,730 - 1.27 Exercisable, December 31, 2017 112,760,238 - 1.27 Expected to vest, December 31, 2017 75,173,492 - 1.27 Balance, December 31, 2017 187,933,730 - 1.27 Granted - - - Exercised - - - Surrendered - - - Balance, December 31, 2018 187,933,730 - 1.27 Exercisable, December 31, 2018 150,346,984 - 1.27 Expected to vest, December 31, 2018 37,586,746 - 1.27 Balance, December 31, 2018 187,933,730 - 1.27 Granted - - - Exercised - - - Surrendered - - - Balance, December 31, 2019 187,933,730 - 1.27 Exercisable, December 31, 2019 187,933,730 - 1.27 Expected to vest, December 31, 2019 - - - A summary of share option activity under the 2019 Option is as follows: Number of Weighted Weighted RMB RMB Balance, December 31, 2018 - - - Granted 119,674,780 - 0.72 Exercised - - - Surrendered - - - Balance, December 31, 2019 119,674,780 - 0.72 Exercisable, December 31, 2019 - - - Expected to vest, December 31, 2019 119,674,780 - 0.72 Balance, December 31, 2019 119,674,780 - 0.72 Granted - - - Exercised - - - Surrendered - - - Balance, December 31, 2020 119,674,780 - 0.72 Exercisable, December 31, 2020 59,837,390 - 0.72 Expected to vest, December 31, 2020 59,837,390 - 0.72 Balance, December 31, 2020 119,674,780 - 0.72 Granted - - - Exercised - - - Surrendered - - - Balance, December 31, 2021 119,674,780 - 0.72 Exercisable, December 31, 2021 95,739,824 - 0.72 Expected to vest, December 31, 2021 23,934,956 - 0.72 Balance, December 31, 2021 119,674,780 - 0.72 Granted - - - Exercised - - - Surrendered - - - Balance, September 30, 2022 119,674,780 - 0.72 Exercisable, September 30, 2022 95,739,824 - 0.72 Expected to vest, September 30, 2022 23,934,956 - 0.72 The following table sets forth the fair value of options and ordinary shares estimated at the dates of option grants indicated below with the assistance from an independent valuation firm. Date of options grant Options Exercise Fair value of Fair value of January 3, 2017 75,173,492 RMB0.50 RMB1.26 RMB1.72 January 3, 2017 112,760,238 RMB0.50 RMB1.27 RMB1.72 December 31, 2019 83,772,346 RMB1.00 RMB0.71 RMB1.40 December 31, 2019 35,902,434 RMB1.00 RMB0.75 RMB1.40 For the option granted on January 3, 2017, the Group recognized compensation expenses of RMB39,715,168 and RMB15,886,067 in year 2018 and 2019, respectively. There was no income tax benefit recognized associated with the share-based compensation expenses. As of December 31, 2019, the expenses in relation to the 2018 Option have been fully recognized. For the 2019 Option, the Group recognized compensation expenses of RMB62,073,367, RMB18,766,367 and 5,774,267 in year 2020, 2021 and 2022. There was no income tax benefit recognized associated with the share-based compensation expenses. As of September 30,2022, there is total unrecognized compensation cost of RMB1,443,567.

Material Related Party Transact

Material Related Party Transactions	9 Months Ended
	Sep. 30, 2022
Material related party transactions [Abstract]
Material related party transactions	18 Material related party transactions The Group did not have any related party transactions in the nine months ended September 30, 2021 and September 30, 2022.

Operating Leases

Operating Leases	9 Months Ended
	Sep. 30, 2022
Operating Leases [Abstract]
Operating leases	19 Operating leases The Group leases multiple office spaces which are contracted under various non-cancelable operating leases, most of which provide extension or early termination options and are generally expired in 1 to 4 years. The Group does not enter into any finance leases or leases where the Group is a lessor. Moreover, the existing operating lease agreements do not contain any residual value guarantees or material restrictive covenants. Management determines if an arrangement is a lease at inception and record the leases in the financial statements upon lease commencement, which is the date when the underlying office space is made available for use by the lessor. The incremental borrowing rates determined for computing the lease liabilities are based on the People’s Bank of China (PBOC) Benchmark Rates for terms of loans ranging from zero (exclusive) to 5 years and above. The following tables present the operating lease cost and other supplemental information: Nine months ended 2021 2022 RMB RMB Operating lease cost (1) 11,537,679 10,764,863 (1) Amounts include short-term leases that are immaterial. December 31, 2021 September 30, 2022 RMB RMB Weighted-average remaining lease term 1 Year 1.15 Years Weighted-average discount rate 4.73 % 4.73 % Cash paid for amounts included in the measurement of lease liabilities under operating cash flows 15,478,630 10,804,573 ROU assets obtained in exchange for new operating lease liabilities 16,196,806 15,545,649 The following represents the Group’s future undiscounted cash flows for each of the next five years and thereafter and reconciliation to the lease liabilities (excluding short-term operating leases) as of September 30, 2022: RMB Remainder of 2022 3,775,068 Year ended December 31, 2023 9,693,979 2024 1,435,437 2025 246,756 2026 132,792 2027 - Thereafter - Total future operating lease payments 15,284,032 Less: imputed interest (453,578 ) Total present value of operating lease liabilities 14,830,454

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	20 Commitments and contingencies The Group has not entered into any financial guarantees or other commitments to guarantee the payment obligations of any unconsolidated third parties. In addition, the Group has not entered into any derivative contracts that are indexed to the Group’s shares and classified as shareholders’ equity, or that are not reflected in the Group’s unaudited condensed consolidated financial statements. Furthermore, the Group does not have any retained or contingent interest in assets transferred to an unconsolidated entity that serves as credit, liquidity or market risk support to such entity. Moreover, the Group does not have any variable interest in any unconsolidated entity that provides financing, liquidity, market risk or credit support to the Group or engages in leasing, hedging or product development services with the Group.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent events	21 Subsequent events The Group has considered subsequent events through December 2, 2022, which was the date of these unaudited condensed consolidated financial statements were issued, and has determined none of these events were required to be recognized or disclosed in the unaudited condensed consolidated financial statements and related notes.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	9 Months Ended
	Sep. 30, 2022
Summary of significant accounting policies [Abstract]
Recently issued accounting standards	(a) Recently issued accounting standards ASU 2022-02 - Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures The ASU 2022-02 is to be adopted on a prospective basis and will be effective for the Group on January 1, 2023, although early adoption is permitted. Adoption of the accounting standard is not expected to have an impact on the Group’s operating results or financial position. ASU 2022-03 -Accounting Standards Update No. 2022-03—Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions The ASU 2022-03 is to be adopted on a prospective basis and will be effective for the Group on January 1, 2024, although early adoption is permitted. Adoption of the accounting standard is not expected to have an impact on the Group’s operating results or financial position, as the Company excludes such restrictions when valuing equity securities.
Principles of consolidation	(b) Principles of consolidation The accompanying unaudited condensed consolidated financial statements include the unaudited condensed financial statements of the Group, its subsidiaries and consolidated VIEs. All intercompany transactions and balances have been eliminated in consolidation. The Group accounts for investments over which it has significant influence but not a controlling financial interest using the equity method of accounting.
Currency translation for financial statements presentation	(c) Currency translation for financial statements presentation The Group uses Renminbi (“RMB”) as its reporting currency. The United States Dollar (“USD”) is the functional currency of the Company incorporated in Cayman and the Group’s subsidiary Sincere Fame incorporated in British Virgin Islands, and the Hong Kong Dollar (“HKD”) is the functional currency of the Group’s subsidiary China Financial Services Group Limited incorporated in Hong Kong and the RMB is the functional currency of the Group’s PRC subsidiaries. The financial statements of the Group are translated from the functional currency to the reporting currency, RMB. Assets and liabilities of the subsidiaries are translated into RMB using the exchange rate in effect at each balance sheet date. Income and expenses items are generally translated at the average exchange rates prevailing during the period. Foreign currency translation adjustments arising from these are accumulated as a separate component of shareholders’ deficit on the unaudited condensed consolidated financial statements. The resulting exchange differences are recorded in the unaudited condensed consolidated statements of comprehensive income.
Use of estimates	(d) Use of estimates The preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include, allowance for loans principal, interest and financing service fee receivables, guarantee assets, the valuation allowance for deferred tax assets, unrecognized tax benefits, the indefinite reinvestment assertion, guarantee liabilities, the fair value of investment securities and the fair value of share-based compensation.
Revenue recognition	(e) Revenue recognition Interest and financing service fees on loans which are amortized over the contractual life of the related loans are recognized in unaudited condensed consolidated statements of comprehensive income in accordance with ASC 310 using the effective interest method. Service fees under commercial bank partnership is recognized in accordance with ASC 606 when following conditions are met: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The criteria of revenue recognition as they relate to each of the following major revenue generating activities are described below: (i) Interest and financing service fees on loans Interest and financing service fees on loans, which include financing service fees on loans, are collected from borrowers for loans and related services. Interest and financing service fees on loans include the amortization of any discount or premium or differences between the initial carrying amount of an interest-bearing asset and its amount at maturity calculated using the effective interest basis. The effective interest method is a method of calculating the amortized cost of a financial asset and of allocating the interest and financing service fees on loans over the years. The effective interest rate is the rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial instrument. When calculating the effective interest rate, the Group estimates cash flows considering all contractual terms of the financial instrument but does not consider future credit losses. Interest on the impaired assets is recognized using the rate of interest used to discount future cash flows. (ii) Service fees under commercial bank partnership The Group charges certain percentage of the loan granted under the commercial bank partnership as service fees for its loan introduction service, guarantee service, post-loan service provided to the commercial banks. The loan introduction service fees are recognized at the point of time when the loan agreements between commercial banks and the borrowers are effective, and the post-loan service fees and the guarantee service fees are recognized over the period of the loan terms and guarantee terms, respectively. (iii) Interest income charged to sales partners In the event of a loan defaults and the sales partner chooses to repurchase such loan in installments, the Group charges certain percentage of the loan as the interest income charged to sales partners. (iv) Realized gains/(losses) on sales of investments Realized gains/(losses) consist of realized gains and losses from the sale of investment securities, presented on a net basis. (v) Net gains/(losses) on sales of loans Net gains/(losses) on sales of loans refer to any gains and losses from the disposal of loans which is accounted for as a sale under ASC 860. (vi) Gains on confiscation of credit risk mitigation positions (or “CRMPs”) Gains on confiscation of credit risk mitigation positions are recognized to the extent confiscated CRMPs exceed previously recognized allowance for loan losses and guarantee asset when sales partners surrender the CRMPs and the obligation of refunding the CRMPs is released.
Loans	(f) Loans (i) On-balance sheet loans Loans are reported at their outstanding principal balances net of any unearned income and unamortized deferred fees and costs. Loan origination fees and certain direct origination costs are generally deferred and recognized as adjustments to income over the lives of the related loans. The Group facilitates credit to borrowers through structured funds which are considered as consolidated VIEs and the Group evaluated VIEs for consolidation in accordance with ASC 810. Providing credit strengthening arrangement since March 2018 for the loans to customers under the funds is one of the key factors to determine that the Group should consolidate the structured funds as it is the primary beneficiary of the funds. As a result, the loan principal remains on the Group’s unaudited condensed consolidated balance sheets, whilst the funds received from senior tranches holders are recorded as Other Borrowings in the Group’s unaudited condensed consolidated balance sheets as disclosed in Note 7(b). Non-accrual policies Loans principal, interest and financing service fee receivables are placed on non-accrual status when payments are 90 days contractually past due. When a loan principal, interest and financing service fee receivable is placed on non-accrual status, interest and financing service fees accrual cease. If the loan is non-accrual, the cost recovery method is used and cash collected is applied to first reduce the carrying value of the loan. Otherwise, interest income may be recognized to the extent cash is received. Loans principal, interest and financing service fee receivables may be returned to accrual status when all of the borrower’s delinquent balances of loans principal, interest and financing service fee have been settled and the borrower continue to perform in accordance with the loan terms for a period of at least six months. Charge-off policies For the year ended December 31, 2019, in order to align the Group’s charge-off policies with ASC 326-20-35-8 (superseded ASC 310-10-35-41), the Group revised its charge-off policies as follows: Loans principal, interest and financing service fee receivables are charged down to net realizable value (fair value of collaterals, less estimated costs to sell) when the Group has determined the remaining balance is uncollectable after exhausting all collection efforts. In order to comply with ASC 310 and ASC 326, the Group considers loans principal, interest and financing service fee receivables meeting any of the following conditions as uncollectable and charged-off: (i) death of the borrower; (ii) identification of fraud, and the fraud is officially reported to and filed with relevant law enforcement departments; (iii) sales of loans to third parties; (iv) settlement with the borrower, where the Group releases irrecoverable loans through private negotiations with the borrower where the borrower cannot repay the loan in full through self-funding or voluntary sale of the collateral; (v) disposal through legal proceedings, including but not limited to online arbitrations, judicial auctions and court enforcements; or (vi) loans are 180 days past due unless both well-secured and in the process of collection. Allowance for credit losses Allowance for credit losses represents management’s best estimate of probable losses inherent in the portfolio. Commencing January 1, 2020, CNFinance adopted ASC 326, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”, which replaced the incurred loss methodology for determining the provision for credit losses and allowance for credit losses (“ACL”) with an expected loss methodology that is referred to as the current expected credit loss (“CECL”) model. ASC 326 defines the ACL as a valuation account that is deducted from the amortized cost of a financial asset to present the net amount that management expects to collect on the financial asset over its expected life. All financial assets carried at amortized cost are in the scope of ASC 326, while assets measured at fair value are excluded. The allowance for credit losses is adjusted each period for changes in expected lifetime credit losses. The allowance for credit losses includes an asset-specific component and a statistically based component. The Group aggregates loans sharing similar risk characteristics into pools for purposes of measuring expected credit losses. Pools are reassessed periodically to confirm that all loans within each pool continue to share similar risk characteristics. Expected credit losses for loans that do not share similar risk characteristics with other financial assets are measured individually. Estimation of CECLs requires CNFinance to make assumptions regarding the likelihood and severity of credit loss events and their impact on expected cash flows, which drive the probability of default (PD), loss given default (LGD) and exposure at default (EAD) models. In its loss forecasting framework, ECL is determined primarily by utilizing models for the borrowers’ PD, LGD and EAD and the Group incorporates forward-looking information through the use of macroeconomic scenarios applied over the forecasted life of the assets. These macroeconomic scenarios include variables that have historically been key drivers of increases and decreases in credit losses. These variables include, but are not limited to, gross-domestic product rates, interest rates and consumer price indexes. The ACL for financial assets held at amortized cost is a valuation account that is deducted from, or added to, the amortized cost basis of the financial assets to present the net amount expected to be collected. When credit expectations change, the valuation account is adjusted with changes reported in provision for credit losses. If amounts previously charged off are subsequently expected to be collected, the Group may recognize a negative allowance, which is limited to the amount that was previously charged off. The asset-specific component is calculated under ASC 310-10-35, on an individual basis for the loans whose payments are contractually past due more than 90 days or which are considered impaired. A financial asset is collateral-dependent when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the sale or operation of the collateral. When a collateral-dependent financial asset is probable of foreclosure, the Group will measure the ACL based on the fair value of the collateral and we will measure the ACL based on the collateral’s net realizable value (fair value of collateral, less estimated costs to sell). Under the collaboration model, when the Group grants a loan through a trust plan, the loan is with the borrower and guarantee is entered into with a separate counterparty (the sales partner). As such, under the definition of ASC 326-20-20, the guarantee arrangement and lending arrangement would be considered freestanding arrangements. As sale partners will provide guarantee of the entire loan to the Group, collection for loss is probable and estimable when a loss on an insured loan is incurred and recognized. In this case, the Group will recognize guarantee loss recoverable asset in the amount that the Group determines is probable to receive from the guarantor with an offsetting entry to “provision for credit losses” when the Group concludes that the loss recovery is collectible. However, potential recovery that exceeds the recognized loss, if any, (gain contingency) will not be recognized until cash is received. Therefore, the amounts estimated to be recoverable from the proceeds of guarantees will be reported as a separate asset (guarantee asset) in the balance sheet. The increase in guaranteed recoverable assets are included in the income statement as a reduction of the “provision for credit losses”, separate disclosure of the increase in guaranteed recoverable assets will be included in the rollforward of the “allowance for credit losses”. The income statement caption will be modified as “provision for credit losses, net of increase in increase in guaranteed recoverable assets. Loans held-for-sale Loans held-for-sale are measured at the lower of cost or fair value, with valuation changes recorded in noninterest revenue. The valuation is performed on an individual loan basis. Loan origination fees or costs and purchase price discounts or premiums are deferred in a contra loan account until the related loan is sold. The deferred fees or costs and discounts or premiums are adjustments to the basis of the loan and therefore are included in the periodic determination of the lower of cost or fair value adjustments. The loan is derecognized if the Group does not retain any risk and rewards after transferring the loan. Such transfer would be recorded as sales according to ASC 860-10-40-5. At the time of derecognition, any related loan loss allowance is released. Gains and losses on loans transfer as a sale are recognized in the noninterest income. (ii) Off-balance sheet loans For loans funded by the proceeds from third-party commercial banks, each underlying loan and borrower has to be approved by the third-party commercial banks individually. Once the loan is approved by and originated by the third-party commercial bank, the fund is provided by the third-party commercial bank to the borrower and a lending relationship between the borrower and the third-party commercial bank is established through a loan agreement. Effectively, the Group offers loan facilitation and matching services to the borrowers who have credit needs and the commercial banks who originate loans directly to borrowers referred by the Group. The Group continues to provide post-origination services to the borrowers over the term of the loan agreement. Under this scenario, the Group determines that it is not the legal lender or borrower in the loan origination and repayment process. Accordingly, the Group does not record loans principal, interest and financing service fee receivables arising from these loans nor interest-bearing borrowings to the third-party commercial banks.
Income tax	(g) Income tax Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and for operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Group recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50 percent likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Group classifies interest and penalties related to the liability for unrecognized tax benefits as income tax expense.
Share-based compensation	(h) Share-based compensation The Group measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award and recognizes the cost over the period the employee is required to provide service in exchange for the award, which generally is the vesting period. The Group recognizes compensation cost using a front-loading approach for an award with only service conditions that have a graded vesting schedule over the requisite service period for the entire award, net of estimated forfeitures, provided that the cumulative amount of compensation cost recognized at any date at least equals the portion of the grant-date value of such award that is vested at that date. Forfeiture rates are estimated based on historical and future expectations of employee turnover rates.
Guarantee liabilities	(p) Guarantee liabilities The estimated fair value of the guarantee liabilities at inception of the loans is determined based on a discounted cash flow model, but with reference to estimates of expected loss rates using CECL lifetime methodology. Subsequent to initial recognition, the guarantee liabilities continue to be reduced by recording a credit to net income as the guarantor is released from the guaranteed risk over the terms of the underlying loans, as “other gains, net” in the consolidated statements of comprehensive income. The expected credit losses of the guarantee are accounted for in addition to and separately from the guarantee liability accounted for under ASC 460. The contingent guarantee liabilities are determined using CECL lifetime methodology and recognized in full amount at loan inceptions. At each reporting date, the Group measures the contingent guarantee liabilities of the underlying loans, on a portfolio basis, and the relevant credit losses of guarantee are recorded as “other gains, net” in the consolidated statements of comprehensive income.
Fair value measurements	(i) Fair value measurements The Group uses valuation approaches that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Group determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels in accordance with ASU 2011-04 (see Note 3 to the unaudited condensed consolidated financial statements): ● Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date. ● Level 2 Inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. ● Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Measurements [Abstract]
Schedule of assets and liabilities measured at fair value on a recurring basis	September 30, 2022 Fair value Level 1 Level 2 Level 3 RMB RMB RMB RMB Wealth management products 584,738,005 302,608,884 282,129,121 - Total 584,738,005 302,608,884 282,129,121 - December 31, 2021 Fair value Level 1 Level 2 Level 3 RMB RMB RMB RMB Wealth management products 847,047,295 729,255,924 117,791,371 - Total 847,047,295 729,255,924 117,791,371 -
Schedule of assets and liabilities measured at fair value on a non-recurring basis	September 30, 2022 Fair value Level 1 Level 2 Level 3 RMB RMB RMB RMB Loans (1) 657,992,453 - 657,992,453 - Loans held-for-sale (2) 11,694,198 - 11,694,198 - Equity securities (3) 24,010,000 - 24,010,000 - Total 693,696,651 - 693,696,651 - December 31, 2021 Fair value Level 1 Level 2 Level 3 RMB RMB RMB RMB Loans (1) 368,997,898 - 368,997,898 - Loans held-for-sale (2) 24,696,075 - 24,696,075 - Equity securities (3) 24,010,000 - 24,010,000 - Total 417,703,973 - 417,703,973 - (1) The Group records nonrecurring fair value adjustments to reflect partial write-downs that are based on the observable market price of the loan or current appraised value of the collateral. (2) Loans held for sale are held at LOCOM which may be written down to fair value on a nonrecurring basis. (3) Nonmarketable equity securities are accounted for using the measurement alternative and can be subject to nonrecurring fair value adjustments to record impairment.

Loans Principal, Interest and_2

Loans Principal, Interest and Financing Service Fee Receivables (Tables)	9 Months Ended
	Sep. 30, 2022
Receivables [Abstract]
Schedule of loans principal, interest and financing service fee receivables	Note December 31, September 30, RMB RMB Home equity loan: (i) Loans principal, interest and financing service fee receivables 9,412,717,366 9,259,642,529 Less: allowance for credit losses (a) - Individually assessed (61,479,897 ) (45,635,286 ) - Collectively assessed (914,370,954 ) (965,307,764 ) Subtotal (975,850,851 ) (1,010,943,050 ) Net loans principal, interest and financing service fee receivables of home equity loan 8,436,866,515 8,248,699,479 Corporate loan: (ii) Loans principal, interest and financing service fee receivables - 284,982,538 Less: allowance for credit losses - (6,136,295 ) Net loans principal, interest and financing service fee receivables of corporate loan - 278,846,243 Net loans principal, interest and financing service fee receivables 8,436,866,515 8,527,545,722
Schedule of allowances for loans principal, interest and financing service fee receivables by impairment methodology with the recorded investment	Nine months ended September 30, 2022 Allowance for Allowance for Total RMB RMB RMB As of January 1 914,370,954 61,479,897 975,850,851 Provision for credit losses 39,674,709 173,064,064 212,738,773 Charge-offs (1) (193,168,795 ) (242,947,778 ) (436,116,573 ) Increase in guaranteed recoverable assets 204,430,896 25,223,738 229,654,634 Recoveries - 28,815,365 28,815,365 As of September 30 965,307,764 45,635,286 1,010,943,050 Net loans principal, interest and financing service fee receivables 8,154,672,302 94,027,177 8,248,699,479 Recorded investment 9,119,980,066 139,662,463 9,259,642,529 Nine months ended September 30, 2021 Allowance for Allowance for Total Subtotal Subtotal RMB RMB RMB As of January 1 535,967,177 71,998,321 607,965,498 Provision for credit losses (116,550,594 ) 128,060,127 11,509,533 Charge-offs (1) (1,198,134 ) (243,302,896 ) (244,501,030 ) Increase in guaranteed recoverable assets 81,609,992 155,066,460 236,676,452 Recoveries - 23,577,905 23,577,905 As of September 30 499,828,441 135,399,917 635,228,358 Net loans principal, interest and financing service fee receivables 9,758,829,979 251,002,604 10,009,832,583 Recorded investment 10,258,658,420 386,402,521 10,645,060,941
Schedule of aging of allowance for credit losses	Total 1 - 30 days 31 - 90 days 91 - 180 days Total RMB RMB RMB RMB RMB The collaboration model First lien 237,910,121 77,116,334 55,178,321 8,899,717 379,104,493 Second lien 413,700,563 101,187,722 79,975,921 36,735,569 631,599,775 Subtotal 651,610,684 178,304,056 135,154,242 45,635,286 1,010,704,268 The traditional facilitation model First lien 5,703 - 149,955 - 155,658 Second lien 83,124 - - - 83,124 Subtotal 88,827 - 149,955 - 238,782 Allowance for credit losses 651,699,511 178,304,056 135,304,197 45,635,286 1,010,943,050 Total 1 - 30 days 31 - 90 days 91 - 180 days Total RMB RMB RMB RMB RMB The collaboration model First lien 189,814,922 86,537,327 66,784,464 31,394,514 374,531,227 Second lien 340,800,002 124,542,266 80,395,050 26,996,820 572,734,138 Subtotal 530,614,924 211,079,593 147,179,514 58,391,334 947,265,365 The traditional facilitation model First lien 5,618,913 3,503,613 4,980,213 1,574,208 15,676,947 Second lien 5,491,292 2,285,562 3,617,330 1,514,355 12,908,539 Subtotal 11,110,205 5,789,175 8,597,543 3,088,563 28,585,486 Allowance for credit losses 541,725,129 216,868,768 155,777,057 61,479,897 975,850,851
Schedule of aging of past-due loan principal and financing service fee receivables	Total 1 - 30 days 31 - 90 days 91 - 180 days 181 - 270 days 271 - 360 days over 360 days Total Total RMB RMB RMB RMB RMB RMB RMB RMB RMB The collaboration model First lien 3,031,554,612 276,591,737 190,294,075 16,290,631 6,932,328 5,243,293 18,862,267 3,545,768,943 47,328,519 Second lien 4,981,904,634 362,675,696 275,220,859 60,098,879 10,763,925 6,698,897 13,297,348 5,710,660,238 90,859,049 Subtotal 8,013,459,246 639,267,433 465,514,934 76,389,510 17,696,253 11,942,190 32,159,615 9,256,429,181 138,187,568 The traditional facilitation model First lien 502,127 - 524,474 - - 209,094 218,082 1,453,777 427,176 Second lien 711,852 - - - - - 1,047,719 1,759,571 1,047,719 Subtotal 1,213,979 - 524,474 - - 209,094 1,265,801 3,213,348 1,474,895 Loans principal, interest and financing service fee receivables 8,014,673,225 639,267,433 466,039,408 76,389,510 17,696,253 12,151,284 33,425,416 9,259,642,529 139,662,463 Total 1 - 30 days 31 - 90 days 91 - 180 days 181 - 270 days 271 - 360 days over 360 days Total loans Total RMB RMB RMB RMB RMB RMB RMB RMB RMB The collaboration model First lien 2,814,226,880 325,090,831 230,622,938 65,080,342 6,979,995 5,972,352 24,768,894 3,472,742,232 102,801,583 Second lien 5,030,913,080 467,836,400 276,784,712 52,043,750 7,455,656 6,468,134 17,308,803 5,858,810,535 83,276,343 Subtotal 7,845,139,960 792,927,231 507,407,650 117,124,092 14,435,651 12,440,486 42,077,697 9,331,552,767 186,077,926 The traditional facilitation model First lien 20,814,948 6,532,393 8,334,398 4,887,949 285,023 122,845 653,689 41,631,245 5,949,506 Second lien 21,237,555 4,238,098 6,081,004 5,027,879 360,727 673,625 1,914,466 39,533,354 7,976,697 Subtotal 42,052,503 10,770,491 14,415,402 9,915,828 645,750 796,470 2,568,155 81,164,599 13,926,203 Loans principal, interest and financing service fee receivables 7,887,192,463 803,697,722 521,823,052 127,039,920 15,081,401 13,236,956 44,645,852 9,412,717,366 200,004,129
Schedule of impaired loans summary	Recorded investment Unpaid balance Impaired loans Impaired loans with related allowance for credit losses Impaired loans without related allowance for credit losses Related allowance for credit losses RMB RMB RMB RMB RMB First lien 43,112,851 47,755,694 13,977,803 33,777,892 8,899,717 Second lien 89,049,877 91,906,769 57,305,289 34,601,479 36,735,569 As of September 30, 2022 132,162,728 139,662,463 71,283,092 68,379,371 45,635,286 First lien 102,914,225 108,751,090 64,871,825 43,879,265 32,968,721 Second lien 88,073,367 91,253,039 50,995,087 40,257,952 28,511,176 As of December 31, 2021 190,987,592 200,004,129 115,866,912 84,137,217 61,479,897
Schedule of average recorded investment in impaired loans	Nine months ended September 30, 2021 Nine months ended September 30, 2022 Average recorded investment Interest and fees income recognized Average recorded investment Interest and fees income recognized RMB RMB RMB RMB First lien 209,780,721 40,805,772 64,281,802 59,959,073 Second lien 204,379,990 42,672,917 86,125,497 63,190,093 Impaired loans 414,160,711 83,478,689 150,407,299 123,149,166

Investment Securities (Tables)

Investment Securities (Tables)	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule of carrying amount and fair value of equity securities by major security	Aggregate Profits and Aggregate RMB RMB RMB As of September 30, 2022: Wealth management products 584,077,496 660,509 584,738,005 Total 584,077,496 660,509 584,738,005 Aggregate Profits and Aggregate RMB RMB RMB As of December 31, 2021: Wealth management products 845,888,854 1,158,441 847,047,295 Total 845,888,854 1,158,441 847,047,295
Schedule of carrying amount and fair value of equity securities by major security	Amortized cost Impairment Net RMB RMB RMB As of September 30, 2022: Investment in partnership 383,003,311 (7,845,764 ) 375,157,547 Corporate bond 4,518,925 (1,999,425 ) 2,519,500 Total 387,522,236 (9,845,189 ) 377,677,047 Amortized cost Impairment Net RMB RMB RMB As of December 31, 2021: Investment in partnership 246,400,000 (5,403,084 ) 240,996,916 Total 246,400,000 (5,403,084 ) 240,996,916

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	December 31, 2021 September 30, 2022 Gross carrying Accumulated Net carrying Gross carrying Accumulated Net carrying RMB RMB RMB RMB RMB RMB Amortized intangible assets: Software 10,793,974 (9,754,602 ) 1,039,372 10,793,974 (10,148,968 ) 645,006 Cooperation agreement 5,030,000 (5,030,000 ) - 5,030,000 (5,030,000 ) - Total amortized intangible assets 15,823,974 (14,784,602 ) 1,039,372 15,823,974 (15,178,968 ) 645,006 Unamortized intangible assets: Trademarks 2,970,000 2,970,000
Schedule of amortization expense for current year and future periods	Software RMB Nine months ended September 30, 2022 (actual) 394,366 Remainder of 2022 136,023 Estimate for year ended December 31, 2023 508,393 2024 590 2025 - 2026 - 2027 -

Interest-Bearing Borrowings (Ta

Interest-Bearing Borrowings (Tables)	9 Months Ended
	Sep. 30, 2022
Interest-Bearing Borrowings [Abstarct]
Schedule of borrowings under agreements to repurchase	Note Fixed interest Term December 31, September 30, RMB RMB Repurchase agreements Financial institution (i) 13.8 % Within 1 year 45,250,000 5,965,976 Interest payable Financial institution (i) - - Total repurchase agreements 45,250,000 5,965,976
Schedule of underlying collateral types of the gross obligations under repurchase agreements	December 31, September 30, RMB RMB Underlying collateral types of gross obligations Repurchase agreements: Loans principal, interest and financing service fee receivables 45,250,000 5,965,976 Total repurchase agreements 45,250,000 5,965,976
Schedule of contractual maturities of the gross obligations under repurchase agreements	Overnight Up to 30 days 30 to 90 days Greater than Total gross obligations RMB RMB RMB RMB RMB Repurchase agreements As of September 30,2022 - - - 5,965,976 5,965,976 As of December 31,2021 - - - 45,250,000 45,250,000
Schedule of other borrowings	Note Fixed interest Term December 31 September 30 RMB RMB Short-term: Investors of consolidated VIEs (i) 6.3% - 10.5 % Less than 1 year 4,654,388,213 5,328,338,540 Long-term: Investors of consolidated VIEs (i) 7.0% - 11.5 % Within 5 years 3,330,334,482 2,210,471,212 Interest payable to Investors of consolidated VIEs (i) 57,169,385 55,515,337 Total 8,041,892,080 7,594,325,089
Schedule of aggregate annual maturities of long-term borrowing obligations	September 30, 2022 2023 2024 2025 2026 2027 Thereafter Total RMB RMB RMB RMB RMB RMB Investors of consolidated VIEs 1,048,206,017 479,441,307 25,823,888 - - 657,000,000 2,210,471,212
Schedule of carrying amounts of pledged assets	December 31, September 30, RMB RMB Loans principal, interest and financing service fee receivables 64,640,192 5,965,976 Total 64,640,192 5,965,976

Credit Risk Mitigation Positi_2

Credit Risk Mitigation Position (Tables)	9 Months Ended
	Sep. 30, 2022
Credit Risk Mitigation Position [Abstract]
Schedule of credit risk mitigation position	December 31, September 30, RMB RMB Balance at the beginning of the year/period 1,209,729,138 1,348,449,426 Increase during the year/period 1,203,458,816 774,322,489 Decrease during the year/period (1,052,004,847 ) (713,207,923 ) Confiscation during the year/period (12,733,681 ) (47,592,378 ) Balance at the end of the year/period 1,348,449,426 1,361,971,614

Accumulated other comprehensi_2

Accumulated other comprehensive losses (Tables)	9 Months Ended
	Sep. 30, 2022
Stockholders' Equity Note [Abstract]
Schedule of accumulated other comprehensive losses	Balance as of Other Balance as of RMB RMB RMB Foreign currency translation adjustment (RMB) (18,456,546 ) (1,618,941 ) (20,075,487 ) Balance as of Other Balance as of RMB RMB RMB Foreign currency translation adjustment (RMB) (25,393,515 ) 18,747,601 (6,645,914 )

Interest and Financing Servic_2

Interest and Financing Service Fees on Loans (Tables)	9 Months Ended
	Sep. 30, 2022
Interest and financing service fees on loans [Abstract]
Schedule of interest and financing service fees on loans	Nine months ended September 30, 2022 Traditional Collaboration Total RMB RMB RMB Interest and financing service fees on loans 24,901,747 1,155,204,919 1,180,106,666 Interests on deposits with banks 530,044 8,225,880 8,755,924 Interest expense on interest-bearing borrowings (7,859,919 ) (575,730,015 ) (583,589,934 ) Net interest and fees income 17,571,872 587,700,784 605,272,656 Interest income charged to sales partners - 89,501,328 89,501,328 Collaboration cost for sales partners - (241,162,974 ) (241,162,974 ) Net interest and fees income after collaboration cost 17,571,872 436,039,138 453,611,010 Provision for credit losses 82,716,654 (236,957,351 ) (154,240,697 ) Net interest and fees income after collaboration cost and provision for credit losses 100,288,526 199,081,787 299,370,313

Other Expenses (Tables)

Other Expenses (Tables)	9 Months Ended
	Sep. 30, 2022
Schedule of other expenses [Abstract]
Schedule of other expenses	Nine months ended September 30, 2021 2022 RMB RMB Advertising and promotion expenses 22,645,530 29,003,981 Litigation and Attorney fees 14,292,490 12,776,243 Consulting fees 7,082,325 7,953,685 Entertainment and travelling expenses 7,136,849 6,837,373 Office and commute expenses 6,767,838 5,531,007 Directors and officers liability insurance 2,664,241 2,382,305 Depreciation and amortization 3,095,009 1,800,560 Communication expenses 3,249,141 1,721,714 Research and development expenses 1,233,165 415,703 Others 6,417,874 4,606,659 Total 74,584,462 73,029,230

Income Tax Expense (Tables)

Income Tax Expense (Tables)	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Schedule of reconciliation of statutory income tax rate to the effective income tax rate	Nine months ended September 30, 2021 2022 RMB RMB PRC statutory income tax rate 25.00 % 25.00 % (Decrease)/increase in effective income tax rate resulting from: Effect of tax-free income (7.34 )% (0.18 )% Effect of non-deductible share option expense 1.64 % 0.76 % Effect of zero tax rate in foreign countries 0.19 % 0.27 % Effect of differential tax rates for non-PRC entities (0.14 )% (0.53 )% Effect of non-deductible expenses 0.28 % 0.34 % Changes in valuation allowance 0.66 % (0.61 )% Others 0.36 % (0.25 )% Effective income tax rate 20.65 % 24.80 %

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of basic weighted average number of common shares	Nine months ended 2021 2022 RMB RMB Net income 169,855,888 107,214,293 Basic weighted average number of common shares outstanding 1,371,643,240 1,371,643,240 Effect of dilutive share options 137,172,125 132,236,758 Dilutive weighted average number of ordinary shares 1,508,815,365 1,503,879,998 Basic earnings per share 0.12 0.08 Diluted earnings per share 0.11 0.07

Share-Based Compensation Expe_2

Share-Based Compensation Expenses (Tables)	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of estimated fair value of binomial option pricing model	Share awards Share awards Expected volatility 40 % 41.52 % Expected dividends - - Risk-free interest rate 3.10 % 3.12 % Expected term (in years) 5 5 Expected life (in years) 6 8
Schedule of summary of share option activity	Number of Weighted exercise Weighted RMB RMB Balance, December 31, 2016 - - - Granted 187,933,730 - 1.27 Exercised - - - Surrendered - - - Balance, December 31, 2017 187,933,730 - 1.27 Exercisable, December 31, 2017 112,760,238 - 1.27 Expected to vest, December 31, 2017 75,173,492 - 1.27 Balance, December 31, 2017 187,933,730 - 1.27 Granted - - - Exercised - - - Surrendered - - - Balance, December 31, 2018 187,933,730 - 1.27 Exercisable, December 31, 2018 150,346,984 - 1.27 Expected to vest, December 31, 2018 37,586,746 - 1.27 Balance, December 31, 2018 187,933,730 - 1.27 Granted - - - Exercised - - - Surrendered - - - Balance, December 31, 2019 187,933,730 - 1.27 Exercisable, December 31, 2019 187,933,730 - 1.27 Expected to vest, December 31, 2019 - - - Number of Weighted Weighted RMB RMB Balance, December 31, 2018 - - - Granted 119,674,780 - 0.72 Exercised - - - Surrendered - - - Balance, December 31, 2019 119,674,780 - 0.72 Exercisable, December 31, 2019 - - - Expected to vest, December 31, 2019 119,674,780 - 0.72 Balance, December 31, 2019 119,674,780 - 0.72 Granted - - - Exercised - - - Surrendered - - - Balance, December 31, 2020 119,674,780 - 0.72 Exercisable, December 31, 2020 59,837,390 - 0.72 Expected to vest, December 31, 2020 59,837,390 - 0.72 Balance, December 31, 2020 119,674,780 - 0.72 Granted - - - Exercised - - - Surrendered - - - Balance, December 31, 2021 119,674,780 - 0.72 Exercisable, December 31, 2021 95,739,824 - 0.72 Expected to vest, December 31, 2021 23,934,956 - 0.72 Balance, December 31, 2021 119,674,780 - 0.72 Granted - - - Exercised - - - Surrendered - - - Balance, September 30, 2022 119,674,780 - 0.72 Exercisable, September 30, 2022 95,739,824 - 0.72 Expected to vest, September 30, 2022 23,934,956 - 0.72
Schedule of fair value of options and ordinary shares estimated at the dates of option grants	Date of options grant Options Exercise Fair value of Fair value of January 3, 2017 75,173,492 RMB0.50 RMB1.26 RMB1.72 January 3, 2017 112,760,238 RMB0.50 RMB1.27 RMB1.72 December 31, 2019 83,772,346 RMB1.00 RMB0.71 RMB1.40 December 31, 2019 35,902,434 RMB1.00 RMB0.75 RMB1.40

Operating Leases (Tables)

Operating Leases (Tables)	9 Months Ended
	Sep. 30, 2022
Operating Leases [Abstract]
Schedule of operating lease cost and other supplemental information	Nine months ended 2021 2022 RMB RMB Operating lease cost (1) 11,537,679 10,764,863 December 31, 2021 September 30, 2022 RMB RMB Weighted-average remaining lease term 1 Year 1.15 Years Weighted-average discount rate 4.73 % 4.73 % Cash paid for amounts included in the measurement of lease liabilities under operating cash flows 15,478,630 10,804,573 ROU assets obtained in exchange for new operating lease liabilities 16,196,806 15,545,649
Schedule of reconciliation to the lease liabilities	RMB Remainder of 2022 3,775,068 Year ended December 31, 2023 9,693,979 2024 1,435,437 2025 246,756 2026 132,792 2027 - Thereafter - Total future operating lease payments 15,284,032 Less: imputed interest (453,578 ) Total present value of operating lease liabilities 14,830,454

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Details)	9 Months Ended
	Sep. 30, 2022
Summary of significant accounting policies [Abstract]
Recognized income tax, percentage	50%

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a recurring basis - CNY (¥)	Sep. 30, 2022	Dec. 31, 2021
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a recurring basis [Line Items]
Total	¥ 584,738,005	¥ 847,047,295
Wealth management products [Member] | Fair value recurring [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a recurring basis [Line Items]
Wealth management products	584,738,005	847,047,295
Level 1 [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a recurring basis [Line Items]
Total	302,608,884	729,255,924
Level 1 [Member] | Wealth management products [Member] | Fair value recurring [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a recurring basis [Line Items]
Wealth management products	302,608,884	729,255,924
Level 2 [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a recurring basis [Line Items]
Total	282,129,121	117,791,371
Level 2 [Member] | Wealth management products [Member] | Fair value recurring [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a recurring basis [Line Items]
Wealth management products	282,129,121	117,791,371
Level 3 [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a recurring basis [Line Items]
Total
Level 3 [Member] | Wealth management products [Member] | Fair value recurring [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a recurring basis [Line Items]
Wealth management products

Fair Value Measurements (Deta_2

Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis - CNY (¥)		Sep. 30, 2022	Dec. 31, 2021
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Total		¥ 693,696,651	¥ 417,703,973
Loans [Member] | Fair value non-recurring [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Loans	[1]	657,992,453	368,997,898
Loans held-for-sale [Member] | Fair value non-recurring [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Loans held-for-sale	[2]	11,694,198	24,696,075
Equity securities [Member] | Fair value non-recurring [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Equity securities	[3]	24,010,000	24,010,000
Level 1 [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Total
Level 1 [Member] | Loans [Member] | Fair value non-recurring [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Loans	[1]
Level 1 [Member] | Loans held-for-sale [Member] | Fair value non-recurring [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Loans held-for-sale	[2]
Level 1 [Member] | Equity securities [Member] | Fair value non-recurring [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Equity securities	[3]
Level 2 [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Total		693,696,651	417,703,973
Level 2 [Member] | Loans [Member] | Fair value non-recurring [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Loans	[1]	657,992,453	368,997,898
Level 2 [Member] | Loans held-for-sale [Member] | Fair value non-recurring [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Loans held-for-sale	[2]	11,694,198	24,696,075
Level 2 [Member] | Equity securities [Member] | Fair value non-recurring [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Equity securities	[3]	24,010,000	24,010,000
Level 3 [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Total
Level 3 [Member] | Loans [Member] | Fair value non-recurring [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Loans	[1]
Level 3 [Member] | Loans held-for-sale [Member] | Fair value non-recurring [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Loans held-for-sale	[2]
Level 3 [Member] | Equity securities [Member] | Fair value non-recurring [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value on a non-recurring basis [Line Items]
Equity securities	[3]
[1]The Group records nonrecurring fair value adjustments to reflect partial write-downs that are based on the observable market price of the loan or current appraised value of the collateral.[2]Loans held for sale are held at LOCOM which may be written down to fair value on a nonrecurring basis.[3]Nonmarketable equity securities are accounted for using the measurement alternative and can be subject to nonrecurring fair value adjustments to record impairment.

Loans Principal, Interest and_3

Loans Principal, Interest and Financing Service Fee Receivables (Details) - CNY (¥)	9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Loans Principal, Interest and Financing Service Fee Receivables (Details) [Line Items]
Carrying amount of loans	¥ 9,259,642,529		¥ 9,412,717,366
Net gains on sale of loans	51,040,366	¥ 17,878,084
Financing service fee	278,846,243
Third Party Investors [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) [Line Items]
Carrying amount of loans	1,896,205,225	939,112,508
Net gains on sale of loans	51,040,366	¥ 17,878,084
Loans transferred to held-for-sale	24,696,075		733,975,352
Held-for-sale measured at fair value	¥ 11,694,198		¥ 1,016,173,196

Loans Principal, Interest and_4

Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of loans principal, interest and financing service fee receivables - CNY (¥)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Home equity loan:
Loans principal, interest and financing service fee receivables	¥ 9,259,642,529	¥ 9,412,717,366
- Individually assessed	(45,635,286)	(61,479,897)
- Collectively assessed	(965,307,764)	(914,370,954)
Subtotal	(1,010,943,050)	(975,850,851)
Net loans principal, interest and financing service fee receivables of home equity loan	8,248,699,479	8,436,866,515
Corporate loan:
Loans principal, interest and financing service fee receivables	284,982,538
Less: allowance for credit losses	(6,136,295)
Net loans principal, interest and financing service fee receivables of corporate loan	278,846,243
Net loans principal, interest and financing service fee receivables	¥ 8,527,545,722	¥ 8,436,866,515

Loans Principal, Interest and_5

Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of allowances for loans principal, interest and financing service fee receivables by impairment methodology with the recorded investment - CNY (¥)		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of allowances for loans principal, interest and financing service fee receivables by impairment methodology with the recorded investment [Line Items]
Beginning Balance, January 1		¥ 975,850,851	¥ 607,965,498
Provision for credit losses		212,738,773	11,509,533
Charge-offs	[1]	(436,116,573)	(244,501,030)
Increase in guaranteed recoverable assets		229,654,634	236,676,452
Recoveries		28,815,365	23,577,905
Ending Balance, December 31		1,010,943,050	635,228,358
Net loans principal, interest and financing service fee receivables		8,248,699,479	10,009,832,583
Recorded investment		9,259,642,529	10,645,060,941
Allowance for loans which are collectively assessed [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of allowances for loans principal, interest and financing service fee receivables by impairment methodology with the recorded investment [Line Items]
Beginning Balance, January 1		914,370,954	535,967,177
Provision for credit losses		39,674,709	(116,550,594)
Charge-offs	[1]	(193,168,795)	(1,198,134)
Increase in guaranteed recoverable assets		204,430,896	81,609,992
Recoveries
Ending Balance, December 31		965,307,764	499,828,441
Net loans principal, interest and financing service fee receivables		8,154,672,302	9,758,829,979
Recorded investment		9,119,980,066	10,258,658,420
Allowance for loans which are individually assessed [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of allowances for loans principal, interest and financing service fee receivables by impairment methodology with the recorded investment [Line Items]
Beginning Balance, January 1		61,479,897	71,998,321
Provision for credit losses		173,064,064	128,060,127
Charge-offs	[1]	(242,947,778)	(243,302,896)
Increase in guaranteed recoverable assets		25,223,738	155,066,460
Recoveries		28,815,365	23,577,905
Ending Balance, December 31		45,635,286	135,399,917
Net loans principal, interest and financing service fee receivables		94,027,177	251,002,604
Recorded investment		¥ 139,662,463	¥ 386,402,521
[1]In 2020, the Group revised its charge-off policy so that loans that are 180 days past due are charged down to net realizable value (fair value of collateral, less estimated costs to sell) unless the loans are both well-secured and in the process of collection.

Loans Principal, Interest and_6

Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses - CNY (¥)	Sep. 30, 2022	Dec. 31, 2021
Collaboration Model [Member] | First lien [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	¥ 189,814,922	¥ 237,910,121
Collaboration Model [Member] | First lien [Member] | Total loans [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	374,531,227	379,104,493
Collaboration Model [Member] | First lien [Member] | 1 - 30 days past due [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	86,537,327	77,116,334
Collaboration Model [Member] | First lien [Member] | 31 - 90 days past due [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	66,784,464	55,178,321
Collaboration Model [Member] | First lien [Member] | 91 - 180 days past due [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	31,394,514	8,899,717
Collaboration Model [Member] | Second lien [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	340,800,002	413,700,563
Collaboration Model [Member] | Second lien [Member] | Total loans [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	572,734,138	631,599,775
Collaboration Model [Member] | Second lien [Member] | 1 - 30 days past due [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	124,542,266	101,187,722
Collaboration Model [Member] | Second lien [Member] | 31 - 90 days past due [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	80,395,050	79,975,921
Collaboration Model [Member] | Second lien [Member] | 91 - 180 days past due [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	26,996,820	36,735,569
Collaboration Model [Member] | Subtotal [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	530,614,924	651,610,684
Collaboration Model [Member] | Subtotal [Member] | Total loans [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	947,265,365	1,010,704,268
Collaboration Model [Member] | Subtotal [Member] | 1 - 30 days past due [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	211,079,593	178,304,056
Collaboration Model [Member] | Subtotal [Member] | 31 - 90 days past due [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	147,179,514	135,154,242
Collaboration Model [Member] | Subtotal [Member] | 91 - 180 days past due [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	58,391,334	45,635,286
Traditional Facilitation Model [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	541,725,129	651,699,511
Traditional Facilitation Model [Member] | Total loans [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	975,850,851	1,010,943,050
Traditional Facilitation Model [Member] | 1 - 30 days past due [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	216,868,768	178,304,056
Traditional Facilitation Model [Member] | 31 - 90 days past due [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	155,777,057	135,304,197
Traditional Facilitation Model [Member] | 91 - 180 days past due [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	61,479,897	45,635,286
Traditional Facilitation Model [Member] | First lien [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	5,618,913	5,703
Traditional Facilitation Model [Member] | First lien [Member] | Total loans [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	15,676,947	155,658
Traditional Facilitation Model [Member] | First lien [Member] | 1 - 30 days past due [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	3,503,613
Traditional Facilitation Model [Member] | First lien [Member] | 31 - 90 days past due [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	4,980,213	149,955
Traditional Facilitation Model [Member] | First lien [Member] | 91 - 180 days past due [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	1,574,208
Traditional Facilitation Model [Member] | Second lien [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	5,491,292	83,124
Traditional Facilitation Model [Member] | Second lien [Member] | Total loans [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	12,908,539	83,124
Traditional Facilitation Model [Member] | Second lien [Member] | 1 - 30 days past due [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	2,285,562
Traditional Facilitation Model [Member] | Second lien [Member] | 31 - 90 days past due [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	3,617,330
Traditional Facilitation Model [Member] | Second lien [Member] | 91 - 180 days past due [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	1,514,355
Traditional Facilitation Model [Member] | Subtotal [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	11,110,205	88,827
Traditional Facilitation Model [Member] | Subtotal [Member] | Total loans [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	28,585,486	238,782
Traditional Facilitation Model [Member] | Subtotal [Member] | 1 - 30 days past due [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	5,789,175
Traditional Facilitation Model [Member] | Subtotal [Member] | 31 - 90 days past due [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	8,597,543	149,955
Traditional Facilitation Model [Member] | Subtotal [Member] | 91 - 180 days past due [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of allowance for credit losses [Line Items]
Allowance for credit losses	¥ 3,088,563

Loans Principal, Interest and_7

Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of aging of past-due loan principal and financing service fee receivables - CNY (¥)	Sep. 30, 2022	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Total current	¥ 8,014,673,225	¥ 7,887,192,463
Total loans	9,259,642,529	9,412,717,366
Total non-accrual	139,662,463	200,004,129
1–30 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	639,267,433	803,697,722
31–90 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	466,039,408	521,823,052
91–179 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	76,389,510	127,039,920
180–269 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	17,696,253	15,081,401
270–359 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	12,151,284	13,236,956
>360 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	33,425,416	44,645,852
Collaboration Model [Member]
Financing Receivable, Past Due [Line Items]
Total current	8,013,459,246	7,845,139,960
Total loans	9,256,429,181	9,331,552,767
Total non-accrual	138,187,568	186,077,926
Collaboration Model [Member] | 1–30 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	639,267,433	792,927,231
Collaboration Model [Member] | 31–90 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	465,514,934	507,407,650
Collaboration Model [Member] | 91–179 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	76,389,510	117,124,092
Collaboration Model [Member] | 180–269 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	17,696,253	14,435,651
Collaboration Model [Member] | 270–359 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	11,942,190	12,440,486
Collaboration Model [Member] | >360 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	32,159,615	42,077,697
Collaboration Model [Member] | First lien [Member]
Financing Receivable, Past Due [Line Items]
Total current	3,031,554,612	2,814,226,880
Total loans	3,545,768,943	3,472,742,232
Total non-accrual	47,328,519	102,801,583
Collaboration Model [Member] | First lien [Member] | 1–30 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	276,591,737	325,090,831
Collaboration Model [Member] | First lien [Member] | 31–90 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	190,294,075	230,622,938
Collaboration Model [Member] | First lien [Member] | 91–179 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	16,290,631	65,080,342
Collaboration Model [Member] | First lien [Member] | 180–269 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	6,932,328	6,979,995
Collaboration Model [Member] | First lien [Member] | 270–359 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	5,243,293	5,972,352
Collaboration Model [Member] | First lien [Member] | >360 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	18,862,267	24,768,894
Collaboration Model [Member] | Second lien [Member]
Financing Receivable, Past Due [Line Items]
Total current	4,981,904,634	5,030,913,080
Total loans	5,710,660,238	5,858,810,535
Total non-accrual	90,859,049	83,276,343
Collaboration Model [Member] | Second lien [Member] | 1–30 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	362,675,696	467,836,400
Collaboration Model [Member] | Second lien [Member] | 31–90 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	275,220,859	276,784,712
Collaboration Model [Member] | Second lien [Member] | 91–179 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	60,098,879	52,043,750
Collaboration Model [Member] | Second lien [Member] | 180–269 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	10,763,925	7,455,656
Collaboration Model [Member] | Second lien [Member] | 270–359 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	6,698,897	6,468,134
Collaboration Model [Member] | Second lien [Member] | >360 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	13,297,348	17,308,803
Traditional Facilitation Model [Member]
Financing Receivable, Past Due [Line Items]
Total current	1,213,979	42,052,503
Total loans	3,213,348	81,164,599
Total non-accrual	1,474,895	13,926,203
Traditional Facilitation Model [Member] | 1–30 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans		10,770,491
Traditional Facilitation Model [Member] | 31–90 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	524,474	14,415,402
Traditional Facilitation Model [Member] | 91–179 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans		9,915,828
Traditional Facilitation Model [Member] | 180–269 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans		645,750
Traditional Facilitation Model [Member] | 270–359 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	209,094	796,470
Traditional Facilitation Model [Member] | >360 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	1,265,801	2,568,155
Traditional Facilitation Model [Member] | First lien [Member]
Financing Receivable, Past Due [Line Items]
Total current	502,127	20,814,948
Total loans	1,453,777	41,631,245
Total non-accrual	427,176	5,949,506
Traditional Facilitation Model [Member] | First lien [Member] | 1–30 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans		6,532,393
Traditional Facilitation Model [Member] | First lien [Member] | 31–90 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	524,474	8,334,398
Traditional Facilitation Model [Member] | First lien [Member] | 91–179 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans		4,887,949
Traditional Facilitation Model [Member] | First lien [Member] | 180–269 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans		285,023
Traditional Facilitation Model [Member] | First lien [Member] | 270–359 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	209,094	122,845
Traditional Facilitation Model [Member] | First lien [Member] | >360 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	218,082	653,689
Traditional Facilitation Model [Member] | Second lien [Member]
Financing Receivable, Past Due [Line Items]
Total current	711,852	21,237,555
Total loans	1,759,571	39,533,354
Total non-accrual	1,047,719	7,976,697
Traditional Facilitation Model [Member] | Second lien [Member] | 1–30 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans		4,238,098
Traditional Facilitation Model [Member] | Second lien [Member] | 31–90 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans		6,081,004
Traditional Facilitation Model [Member] | Second lien [Member] | 91–179 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans		5,027,879
Traditional Facilitation Model [Member] | Second lien [Member] | 180–269 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans		360,727
Traditional Facilitation Model [Member] | Second lien [Member] | 270–359 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans		673,625
Traditional Facilitation Model [Member] | Second lien [Member] | >360 days past due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	¥ 1,047,719	¥ 1,914,466

Loans Principal, Interest and_8

Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of impaired loans summary - CNY (¥)	Sep. 30, 2022	Dec. 31, 2021
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of impaired loans summary [Line Items]
Recorded investment, Unpaid principal balance	¥ 132,162,728	¥ 190,987,592
Recorded investment, Impaired loans	139,662,463	200,004,129
Recorded investment, Impaired loans with related allowance for credit losses	71,283,092	115,866,912
Recorded investment, Impaired loans without related allowance for credit losses	68,379,371	84,137,217
Recorded investment , Related allowance for credit losses	45,635,286	61,479,897
First lien [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of impaired loans summary [Line Items]
Recorded investment, Unpaid principal balance	43,112,851	102,914,225
Recorded investment, Impaired loans	47,755,694	108,751,090
Recorded investment, Impaired loans with related allowance for credit losses	13,977,803	64,871,825
Recorded investment, Impaired loans without related allowance for credit losses	33,777,892	43,879,265
Recorded investment , Related allowance for credit losses	8,899,717	32,968,721
Second lien [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of impaired loans summary [Line Items]
Recorded investment, Unpaid principal balance	89,049,877	88,073,367
Recorded investment, Impaired loans	91,906,769	91,253,039
Recorded investment, Impaired loans with related allowance for credit losses	57,305,289	50,995,087
Recorded investment, Impaired loans without related allowance for credit losses	34,601,479	40,257,952
Recorded investment , Related allowance for credit losses	¥ 36,735,569	¥ 28,511,176

Loans Principal, Interest and_9

Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of average recorded investment in impaired loans - CNY (¥)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of average recorded investment in impaired loans [Line Items]
Impaired loans, Average recorded investment	¥ 150,407,299	¥ 414,160,711
Impaired loans, Interest and fees income recognized	123,149,166	83,478,689
First lien [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of average recorded investment in impaired loans [Line Items]
Impaired loans, Average recorded investment	64,281,802	209,780,721
Impaired loans, Interest and fees income recognized	59,959,073	40,805,772
Second lien [Member]
Loans Principal, Interest and Financing Service Fee Receivables (Details) - Schedule of average recorded investment in impaired loans [Line Items]
Impaired loans, Average recorded investment	86,125,497	204,379,990
Impaired loans, Interest and fees income recognized	¥ 63,190,093	¥ 42,672,917

Investment Securities (Details)

Investment Securities (Details) - Schedule of carrying amount and fair value of equity securities by major security - CNY (¥)	Sep. 30, 2022	Dec. 31, 2021
Investment Securities (Details) - Schedule of carrying amount and fair value of equity securities by major security [Line Items]
Aggregate cost basis	¥ 584,077,496	¥ 845,888,854
Profits and losses from fair value changes	660,509	1,158,441
Aggregate fair value	584,738,005	847,047,295
Wealth Management Products [Member]
Investment Securities (Details) - Schedule of carrying amount and fair value of equity securities by major security [Line Items]
Aggregate cost basis	584,077,496	845,888,854
Profits and losses from fair value changes	660,509	1,158,441
Aggregate fair value	¥ 584,738,005	¥ 847,047,295

Investment Securities (Detail_2

Investment Securities (Details) - Schedule of debt securities - CNY (¥)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	¥ 387,522,236	¥ 246,400,000
Impairment	(9,845,189)	(5,403,084)
Net amortized cost	377,677,047	240,996,916
Investment in partnership [Member]
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	383,003,311	246,400,000
Impairment	(7,845,764)	(5,403,084)
Net amortized cost	375,157,547	¥ 240,996,916
Corporate bond [Member]
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	4,518,925
Impairment	(1,999,425)
Net amortized cost	¥ 2,519,500

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill (Details) - CNY (¥)	Sep. 30, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Accumulated amortization	¥ 15,178,968	¥ 14,784,602

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill (Details) - Schedule of intangible assets - CNY (¥)	Sep. 30, 2022	Dec. 31, 2021
Amortized intangible assets:
Gross carrying value	¥ 15,823,974	¥ 15,823,974
Accumulated amortisation	(15,178,968)	(14,784,602)
Net carrying value	645,006	1,039,372
Software [Member]
Amortized intangible assets:
Gross carrying value	10,793,974	10,793,974
Accumulated amortisation	(10,148,968)	(9,754,602)
Net carrying value	645,006	1,039,372
Cooperation agreement [Member]
Amortized intangible assets:
Gross carrying value	5,030,000	5,030,000
Accumulated amortisation	(5,030,000)	(5,030,000)
Net carrying value
Trademarks [Member]
Unamortized intangible assets:
Unamortized intangible assets	¥ 2,970,000	¥ 2,970,000

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill (Details) - Schedule of amortization expense for current year and future periods	Sep. 30, 2022 CNY (¥)
Schedule Of Amortization Expense For Current Year And Future Periods Abstract
Nine months ended September 30, 2022 (actual)	¥ 394,366
Remainder of 2022	136,023
Estimate for year ended December 31, 2023	508,393
2024	590
2025
2026
2027

Interest-Bearing Borrowings (De

Interest-Bearing Borrowings (Details) - CNY (¥)	Aug. 29, 2022	Jul. 27, 2021	Sep. 30, 2022	Dec. 31, 2021
Interest-Bearing Borrowings (Details) [Line Items]
Carrying value			¥ 5,965,976	¥ 64,640,192
Guangdong Yueke Asset Management Co., Ltd [Member]
Interest-Bearing Borrowings (Details) [Line Items]
Principal and interest carrying amount		¥ 64,640,192
Terms of transferred loans overdue		1 year
Amount of long-term funds obtained				45,250,000
Interest payable
Pingan Puhui Lixin Asset Management Co., Ltd [Member]
Interest-Bearing Borrowings (Details) [Line Items]
Principal and interest carrying amount	¥ 5,965,976
Suzhou Asset Management Co., Ltd. [Member]
Interest-Bearing Borrowings (Details) [Line Items]
Terms of transferred loans overdue	1 year
Shenzhen Ruifeng Baoying Asset Management Co., Ltd. [Member]
Interest-Bearing Borrowings (Details) [Line Items]
Interest payable
Debt instrument face amount			5,965,976
VIE [Member]
Interest-Bearing Borrowings (Details) [Line Items]
Principal payment			¥ 7,594,325,089
Minimum [Member] | VIE [Member]
Interest-Bearing Borrowings (Details) [Line Items]
Interest rate			6.30%
Maximum [Member] | VIE [Member]
Interest-Bearing Borrowings (Details) [Line Items]
Interest rate			11.50%

Interest-Bearing Borrowings (_2

Interest-Bearing Borrowings (Details) - Schedule of borrowings under agreements to repurchase - CNY (¥)	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Repurchase agreements
Total repurchase agreements	¥ 5,965,976	¥ 45,250,000
Financial Institution [Member]
Repurchase agreements
Fixed interest rate per annum	13.80%
Term	Within 1 year
Total repurchase agreements	¥ 5,965,976	45,250,000
Interest Payable Financial Institution [Member]
Repurchase agreements
Total repurchase agreements

Interest-Bearing Borrowings (_3

Interest-Bearing Borrowings (Details) - Schedule of underlying collateral types of the gross obligations under repurchase agreements - CNY (¥)	Sep. 30, 2022	Dec. 31, 2021
Repurchase agreements:
Total repurchase agreements	¥ 5,965,976	¥ 45,250,000
Loans Principal, Interest and Financing Service Fee Receivables [Member]
Repurchase agreements:
Total repurchase agreements	¥ 5,965,976	¥ 45,250,000

Interest-Bearing Borrowings (_4

Interest-Bearing Borrowings (Details) - Schedule of contractual maturities of the gross obligations under repurchase agreements - CNY (¥)	Sep. 30, 2022	Dec. 31, 2021
Assets Sold under Agreements to Repurchase [Line Items]
Gross obligations under repurchase agreements	¥ 5,965,976	¥ 45,250,000
Overnight [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Gross obligations under repurchase agreements
Up to 30 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Gross obligations under repurchase agreements
30 to 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Gross obligations under repurchase agreements
Greater than 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Gross obligations under repurchase agreements	¥ 5,965,976	¥ 45,250,000

Interest-Bearing Borrowings (_5

Interest-Bearing Borrowings (Details) - Schedule of other borrowings - CNY (¥)		9 Months Ended
		Sep. 30, 2022	Dec. 31, 2021
Short-term:
Other borrowings		¥ 7,594,325,089	¥ 8,041,892,080
Investors of Consolidated VIEs [Member] | Short-Term [Member]
Short-term:
Term		Less than 1 year
Other borrowings	[1]	¥ 5,328,338,540	4,654,388,213
Investors of Consolidated VIEs [Member] | Short-Term [Member] | Minimum [Member]
Short-term:
Fixed interest rate per annum		6.30%
Investors of Consolidated VIEs [Member] | Short-Term [Member] | Maximum [Member]
Short-term:
Fixed interest rate per annum		10.50%
Investors of Consolidated VIEs [Member] | Long-Term [Member]
Short-term:
Term		Within 5 years
Other borrowings	[1]	¥ 2,210,471,212	3,330,334,482
Investors of Consolidated VIEs [Member] | Long-Term [Member] | Minimum [Member]
Short-term:
Fixed interest rate per annum		7%
Investors of Consolidated VIEs [Member] | Long-Term [Member] | Maximum [Member]
Short-term:
Fixed interest rate per annum		11.50%
Investors of Consolidated VIEs [Member] | Interest Payable To [Member]
Short-term:
Other borrowings	[1]	¥ 55,515,337	¥ 57,169,385
[1]The financial liabilities arising from the VIEs with underlying investments in loans to customers are classified as payable in these unaudited condensed consolidated financial statements. It is because the Group has an obligation to pay senior tranches holders upon maturity dates based on the related terms of those consolidated structured funds. As of September 30, 2022, the borrowings from VIEs have principal RMB7,594,325,089, bearing interests from 6.3% to 11.5% per year.

Interest-Bearing Borrowings (_6

Interest-Bearing Borrowings (Details) - Schedule of aggregate annual maturities of long-term borrowing obligations - Investors of Consolidated VIEs [Member]	Sep. 30, 2022 CNY (¥)
Interest-Bearing Borrowings (Details) - Schedule of aggregate annual maturities of long-term borrowing obligations [Line Items]
2023	¥ 1,048,206,017
2024	479,441,307
2025	25,823,888
2026
2027
Thereafter	657,000,000
Total	¥ 2,210,471,212

Interest-Bearing Borrowings (_7

Interest-Bearing Borrowings (Details) - Schedule of carrying amounts of pledged assets - CNY (¥)	Sep. 30, 2022	Dec. 31, 2021
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged assets	¥ 5,965,976	¥ 64,640,192
Loans Principal, Interest and Financing Service Fee Receivables [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Pledged assets	¥ 5,965,976	¥ 64,640,192

Credit Risk Mitigation Positi_3

Credit Risk Mitigation Position (Details)	Sep. 30, 2022
Minimum [Member]
Credit Risk Mitigation Position (Details) [Line Items]
Securities deposit percentage	10%
Maximum [Member]
Credit Risk Mitigation Position (Details) [Line Items]
Securities deposit percentage	25%

Credit Risk Mitigation Positi_4

Credit Risk Mitigation Position (Details) - Schedule of credit risk mitigation position - CNY (¥)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Schedule Of Credit Risk Mitigation Position Abstract
Balance at the beginning of the year/period	¥ 1,348,449,426	¥ 1,209,729,138
Increase during the year/period	774,322,489	1,203,458,816
Decrease during the year/period	(713,207,923)	(1,052,004,847)
Confiscation during the year/period	(47,592,378)	(12,733,681)
Balance at the end of the year/period	¥ 1,361,971,614	¥ 1,348,449,426

Accumulated other comprehensi_3

Accumulated other comprehensive losses (Details) - Schedule of accumulated other comprehensive losses - CNY (¥)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Schedule Of Accumulated Other Comprehensive Losses Abstract
Foreign currency translation adjustment, Balance Beginning	¥ (25,393,515)	¥ (18,456,546)
Foreign currency translation adjustment, Other comprehensive loss, net	18,747,601	(1,618,941)
Foreign currency translation adjustment, Balance Ending	¥ (6,645,914)	¥ (20,075,487)

Interest and Financing Servic_3

Interest and Financing Service Fees on Loans (Details) - CNY (¥)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Interest and financing service fees on loans [Abstract]
Interest income on loans	¥ 1,178,852,531	¥ 1,319,660,155
Financing service fees on loans	¥ 1,254,135	¥ 5,996,859

Interest and Financing Servic_4

Interest and Financing Service Fees on Loans (Details) - Schedule of interest and financing service fees on loans	9 Months Ended
	Sep. 30, 2022 CNY (¥)
Interest and Financing Service Fees on Loans (Details) - Schedule of interest and financing service fees on loans [Line Items]
Interest and financing service fees on loans	¥ 1,180,106,666
Interests on deposits with banks	8,755,924
Interest expense on interest-bearing borrowings	(583,589,934)
Net interest and fees income	605,272,656
Interest income charged to sales partners	89,501,328
Collaboration cost for sales partners	(241,162,974)
Net interest and fees income after collaboration cost	453,611,010
Provision for credit losses	(154,240,697)
Net interest and fees income after collaboration cost and provision for credit losses	299,370,313
Traditional Facilitation Model [Member]
Interest and Financing Service Fees on Loans (Details) - Schedule of interest and financing service fees on loans [Line Items]
Interest and financing service fees on loans	24,901,747
Interests on deposits with banks	530,044
Interest expense on interest-bearing borrowings	(7,859,919)
Net interest and fees income	17,571,872
Interest income charged to sales partners
Collaboration cost for sales partners
Net interest and fees income after collaboration cost	17,571,872
Provision for credit losses	82,716,654
Net interest and fees income after collaboration cost and provision for credit losses	100,288,526
Collaboration Model [Member]
Interest and Financing Service Fees on Loans (Details) - Schedule of interest and financing service fees on loans [Line Items]
Interest and financing service fees on loans	1,155,204,919
Interests on deposits with banks	8,225,880
Interest expense on interest-bearing borrowings	(575,730,015)
Net interest and fees income	587,700,784
Interest income charged to sales partners	89,501,328
Collaboration cost for sales partners	(241,162,974)
Net interest and fees income after collaboration cost	436,039,138
Provision for credit losses	(236,957,351)
Net interest and fees income after collaboration cost and provision for credit losses	¥ 199,081,787

Collaboration Cost for Sales _2

Collaboration Cost for Sales Partners (Details) - Cost of Sales [Member]	9 Months Ended
	Sep. 30, 2022
Minimum [Member]
Deposit [Line Items]
Loans issued to the borrowers, percentages	10%
Maximum [Member]
Deposit [Line Items]
Loans issued to the borrowers, percentages	25%

Net Gains on Sales of Loans (De

Net Gains on Sales of Loans (Details) - CNY (¥)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Net (Losses)/Gains on Sales of Loans [Abstract]
Net gains on sale of loans	¥ 51,040,366	¥ 17,878,084

Other Expenses (Details) - Sche

Other Expenses (Details) - Schedule of other expenses - CNY (¥)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Schedule Of Other Expenses Abstract
Advertising and promotion expenses	¥ 29,003,981	¥ 22,645,530
Litigation and Attorney fees	12,776,243	14,292,490
Consulting fees	7,953,685	7,082,325
Entertainment and travelling expenses	6,837,373	7,136,849
Office and commute expenses	5,531,007	6,767,838
Directors and officers liability insurance	2,382,305	2,664,241
Depreciation and amortization	1,800,560	3,095,009
Communication expenses	1,721,714	3,249,141
Research and development expenses	415,703	1,233,165
Others	4,606,659	6,417,874
Total	¥ 73,029,230	¥ 74,584,462

Income Tax Expense (Details)

Income Tax Expense (Details)	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
PRC statutory income tax rate	25%

Income Tax Expense (Details) -

Income Tax Expense (Details) - Schedule of reconciliation of statutory income tax rate to the effective income tax rate	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Schedule Of Reconciliation Of Statutory Income Tax Rate To The Effective Income Tax Rate Abstract
PRC statutory income tax rate	25%	25%
Effect of tax-free income	(0.18%)	(7.34%)
Effect of non-deductible share option expense	0.76%	1.64%
Effect of zero tax rate in foreign countries	0.27%	0.19%
Effect of differential tax rates for non-PRC entities	(0.53%)	(0.14%)
Effect of non-deductible expenses	0.34%	0.28%
Changes in valuation allowance	(0.61%)	0.66%
Others	(0.25%)	0.36%
Effective income tax rate	24.80%	20.65%

Earnings Per Share (Details)

Earnings Per Share (Details) - shares	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Basic weighted average number of common shares outstanding	9	1,371,643,240
Shares issued		187,933,730
Ordinary shares are legally issued and not outstanding	187,933,720

Earnings Per Share (Details) -

Earnings Per Share (Details) - Schedule of basic weighted average number of common shares - CNY (¥)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Schedule Of Basic Weighted Average Number Of Common Shares Abstract
Net income	¥ 107,214,293	¥ 169,855,888
Basic weighted average number of common shares outstanding	1,371,643,240	1,371,643,240
Effect of dilutive share options	¥ 132,236,758	¥ 137,172,125
Dilutive weighted average number of ordinary shares	1,503,879,998	1,508,815,365
Basic earnings per share	¥ 0.08	¥ 0.12
Diluted earnings per share	¥ 0.07	¥ 0.11

Share-Based Compensation Expe_3

Share-Based Compensation Expenses (Details) - CNY (¥)				1 Months Ended	9 Months Ended	12 Months Ended
	Jan. 03, 2019	Jan. 03, 2018	Jan. 03, 2017	Aug. 27, 2018	Sep. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-Based Compensation Expenses (Details) [Line Items]
Number of shares granting options to purchase					187,933,730
Contractual life term									The contractual life of the options is 6 years, 7 years and 8 years, respectively. Therefore, the risk-free rate for the expected term of the options is determined based on the yield to maturity of China 5-year, 7-year and 10-year government bond, using interpolation method, at the date of grant.
Recognized compensation expenses							¥ 18,766,367	¥ 62,073,367
Total unrecognized compensation cost					¥ 1,443,567
2017 Share Incentive Plan [Member]
Share-Based Compensation Expenses (Details) [Line Items]
Number of shares granting options to purchase			187,933,730
2018 Option [Member]
Share-Based Compensation Expenses (Details) [Line Items]
Number of shares granting options to purchase				187,933,730
Share Incentive Plan 2018 [Member]
Share-Based Compensation Expenses (Details) [Line Items]
Number of shares granting options to purchase									119,674,780
Share awards granted on January 3, 2017("2018 Option") [Member]
Share-Based Compensation Expenses (Details) [Line Items]
Recognized compensation expenses	¥ 15,886,067	¥ 39,715,168
December 31, 2017 [Member] | 2017 Share Incentive Plan [Member]
Share-Based Compensation Expenses (Details) [Line Items]
Percentage of award vesting rights			60%
December 31, 2018 [Member] | 2017 Share Incentive Plan [Member]
Share-Based Compensation Expenses (Details) [Line Items]
Percentage of award vesting rights			20%
December 31, 2019 [Member] | 2017 Share Incentive Plan [Member]
Share-Based Compensation Expenses (Details) [Line Items]
Percentage of award vesting rights			20%
December 31, 2020 [Member] | 2019 Option [Member]
Share-Based Compensation Expenses (Details) [Line Items]
Percentage of award vesting rights									50%
December 31, 2021 [Member] | 2019 Option [Member]
Share-Based Compensation Expenses (Details) [Line Items]
Percentage of award vesting rights									30%
December 31, 2022 [Member] | 2018 Option [Member]
Share-Based Compensation Expenses (Details) [Line Items]
Risk-free rate expected term										6 years
December 31, 2022 [Member] | 2019 Option [Member]
Share-Based Compensation Expenses (Details) [Line Items]
Percentage of award vesting rights									20%
Forecast [Member]
Share-Based Compensation Expenses (Details) [Line Items]
Recognized compensation expenses						¥ 5,774,267

Share-Based Compensation Expe_4

Share-Based Compensation Expenses (Details) - Schedule of estimated fair value of binomial option pricing model	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Estimated Fair Value Of Binomial Option Pricing Model Abstract
Expected volatility	41.52%	40%
Expected dividends
Risk-free interest rate	3.12%	3.10%
Expected term (in years)	5 years	5 years
Expected life (in years)	8 years	6 years

Share-Based Compensation Expe_5

Share-Based Compensation Expenses (Details) - Schedule of summary of share option activity - ¥ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share Incentive Plan 2018 [Member]
Share-Based Compensation Expenses (Details) - Schedule of summary of share option activity [Line Items]
Number of shares balance (in Shares)				187,933,730	187,933,730	187,933,730
Weighted average exercise price balance
Weighted average grant date fair value balance				¥ 1.27	¥ 1.27	¥ 1.27
Number of shares granted exercisable (in Shares)				187,933,730	150,346,984	112,760,238
Weighted average exercise price exercisable
Weighted average grant date fair value exercisable				¥ 1.27	¥ 1.27	¥ 1.27
Number of shares granted expected to vest (in Shares)					37,586,746	75,173,492
Weighted average exercise price expected to vest
Weighted average grant date fair value expected to vest					¥ 1.27	¥ 1.27
Number of shares granted (in Shares)							187,933,730
Weighted average exercise price granted
Weighted average grant date fair value granted							¥ 1.27
Number of shares granted exercised (in Shares)
Weighted average exercise price exercised
Weighted average grant date fair value exercised
Number of shares granted surrendered (in Shares)
Weighted average exercise price surrendered
Weighted average grant date fair value surrendered
Share Incentive Plan 2019 [Member]
Share-Based Compensation Expenses (Details) - Schedule of summary of share option activity [Line Items]
Number of shares balance (in Shares)	119,674,780	119,674,780	119,674,780	119,674,780
Weighted average exercise price balance
Weighted average grant date fair value balance	¥ 0.72	¥ 0.72	¥ 0.72	¥ 0.72
Number of shares granted exercisable (in Shares)	95,739,824	95,739,824
Weighted average exercise price exercisable
Weighted average grant date fair value exercisable	¥ 0.72	¥ 0.72
Number of shares granted expected to vest (in Shares)	23,934,956	23,934,956		119,674,780
Weighted average exercise price expected to vest
Weighted average grant date fair value expected to vest	¥ 0.72	¥ 0.72		¥ 0.72
Number of shares granted (in Shares)					119,674,780
Weighted average exercise price granted
Weighted average grant date fair value granted					¥ 0.72
Number of shares granted exercised (in Shares)
Weighted average exercise price exercised
Weighted average grant date fair value exercised
Number of shares granted surrendered (in Shares)
Weighted average exercise price surrendered
Weighted average grant date fair value surrendered
Share Incentive Plan 2020 [Member]
Share-Based Compensation Expenses (Details) - Schedule of summary of share option activity [Line Items]
Number of shares balance (in Shares)			119,674,780
Weighted average exercise price balance
Weighted average grant date fair value balance			¥ 0.72
Number of shares granted exercisable (in Shares)			59,837,390
Weighted average exercise price exercisable
Weighted average grant date fair value exercisable			¥ 0.72
Number of shares granted expected to vest (in Shares)			59,837,390
Weighted average exercise price expected to vest
Weighted average grant date fair value expected to vest			¥ 0.72

Share-Based Compensation Expe_6

Share-Based Compensation Expenses (Details) - Schedule of fair value of options and ordinary shares estimated at the dates of option grants	9 Months Ended
	Sep. 30, 2022 shares
Options grant on January 3, 2017 [Member]
Share-Based Compensation Expenses (Details) - Schedule of fair value of options and ordinary shares estimated at the dates of option grants [Line Items]
Options granted	75,173,492
Exercise price	RMB0.50
Fair value of option	RMB1.26
Fair value of ordinary shares	RMB1.72
Second options grant on January 3, 2017 [Member]
Share-Based Compensation Expenses (Details) - Schedule of fair value of options and ordinary shares estimated at the dates of option grants [Line Items]
Options granted	112,760,238
Exercise price	RMB0.50
Fair value of option	RMB1.27
Fair value of ordinary shares	RMB1.72
Options grant on December 31, 2019 [Member]
Share-Based Compensation Expenses (Details) - Schedule of fair value of options and ordinary shares estimated at the dates of option grants [Line Items]
Options granted	83,772,346
Exercise price	RMB1.00
Fair value of option	RMB0.71
Fair value of ordinary shares	RMB1.40
Second options grant on December 31, 2019 [Member]
Share-Based Compensation Expenses (Details) - Schedule of fair value of options and ordinary shares estimated at the dates of option grants [Line Items]
Options granted	35,902,434
Exercise price	RMB1.00
Fair value of option	RMB0.75
Fair value of ordinary shares	RMB1.40

Operating Leases (Details)

Operating Leases (Details)	9 Months Ended
	Sep. 30, 2022
Operating Leases [Abstract]
Non-cancelable operating leases, description	The Group leases multiple office spaces which are contracted under various non-cancelable operating leases, most of which provide extension or early termination options and are generally expired in 1 to 4 years. The Group does not enter into any finance leases or leases where the Group is a lessor. Moreover, the existing operating lease agreements do not contain any residual value guarantees or material restrictive covenants. Management determines if an arrangement is a lease at inception and record the leases in the financial statements upon lease commencement, which is the date when the underlying office space is made available for use by the lessor. The incremental borrowing rates determined for computing the lease liabilities are based on the People’s Bank of China (PBOC) Benchmark Rates for terms of loans ranging from zero (exclusive) to 5 years and above.

Operating Leases (Details) - Sc

Operating Leases (Details) - Schedule of operating lease cost and other supplemental information - CNY (¥)		9 Months Ended		12 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Schedule Of Operating Lease Cost And Other Supplemental Information Abstract
Operating lease cost	[1]	¥ 10,764,863	¥ 11,537,679
Weighted-average remaining lease term		1 year 1 month 24 days		1 year
Weighted-average discount rate		4.73%		4.73%
Cash paid for amounts included in the measurement of lease liabilities under operating cash flows		¥ 10,804,573		¥ 15,478,630
ROU assets obtained in exchange for new operating lease liabilities		¥ 15,545,649		¥ 16,196,806
[1]Amounts include short-term leases that are immaterial.

Operating Leases (Details) - _2

Operating Leases (Details) - Schedule of reconciliation to the lease liabilities	Sep. 30, 2022 CNY (¥)
Schedule Of Reconciliation To The Lease Liabilities Abstract
Remainder of 2022	¥ 3,775,068
2023	9,693,979
2024	1,435,437
2025	246,756
2026	132,792
2027
Thereafter
Total future operating lease payments	15,284,032
Less: imputed interest	(453,578)
Total present value of operating lease liabilities	¥ 14,830,454