Core Viewpoint - Zhongtai Futures (01461.HK) reported a significant decline in operating revenue for the first half of 2025, primarily due to changes in accounting methods and a weak macroeconomic environment affecting commodity market demand [1] Financial Performance - The company achieved operating revenue of RMB 414.92 million, a decrease of 50.20% compared to the same period last year [1] - Net profit attributable to shareholders reached RMB 32.58 million, a substantial increase of 5,414.73% from RMB 0.59 million in the previous year [1] Reasons for Performance Changes - The decline in operating revenue is attributed to the implementation of the net method for recognizing revenue from six categories of trade-related activities, effective January 1, 2025, as per the new regulations from the China Futures Association [1] - The increase in net profit is due to the company's focus on core responsibilities, reform and innovation, enhanced management, and improved operational performance, alongside a low comparative base from the previous year [1]

Group 1 - The company reported a revenue of 415 million yuan for the six months ending June 30, 2025, representing a year-on-year decrease of 50.2% [1] - The net profit attributable to the company's shareholders was 32.58 million yuan, showing a significant year-on-year increase of 5414.73% [1] - The basic earnings per share were 0.0325 yuan [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任 何損失承擔任何責任。 ZHONGTAI FUTURES Company Limited 中泰期貨股份有限公司 （在中華人民共和國註冊成立的股份有限公司） （股份代號：01461） 公 告 潛在持續關連交易 擬與山東能源訂立期貨經紀服務框架協議 由於本公司預計日後將不時向山東能源及╱或其聯繫人提供期貨經紀服務，董事 會 於2025年8月29日 批 准 本 公 司 與 山 東 能 源 訂 立 期 貨 經 紀 服 務 框 架 協 議，並 建 議 期貨經紀服務框架協議項下之2026年、2027年 及2028年之年度上限。 – 1 – (1)擬訂立期貨經紀服務框架協議 (2)擬訂立資產管理服務框架協議 (3)擬訂立風險管理服務框架協議 (4)擬訂立大宗商品購銷框架協議 根據該協議，本公司將向山東能源及╱或其聯繫人提供期貨經紀服務。期貨經紀 服 務 框 架 協 議 為 期 三 年，自2026年1月1日 起 生 效，直 至2028年12月 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依賴該等內容而引致的任 何損失承擔任何責任。 ZHONGTAI FUTURES Company Limited 中泰期貨股份有限公司 （在中華人民共和國註冊成立的股份有限公司） 截 至2025年6月30日 止六個月之中期業績公告 中 泰 期 貨 股 份 有 限 公 司（「本公司」）董 事 會（「董 事 會」）謹 此宣佈本公司及其附屬公司 （「本 集 團」）截 至2025年6月30日 止 六 個 月 之 未 經 審 計 綜 合 中 期 業 績，連 同2024年 同 期 的 比 較 數 字。本 業 績 公 告 列 載 本 公 司2025年 中 期 報 告 全 文，並 符 合《香 港聯合交 易 所 有 限 公 司 證 券 上 市 規 則》中 有 關 中 期 業 績 初 步 公 告 附 載 的 資 料 之 披 露 要 求。 本業績公告在香港聯合交易所有限公司網 站（www.hkexnews.hk）及 本 公 司 網 站 （www.ztqh.com）上 刊 ...

Core Viewpoint - The Shandong Provincial State-owned Assets Supervision and Administration Commission has recognized the "Insurance + Futures" innovative model for cotton price targeting as a benchmark practice in supporting rural revitalization through financial services [1][2]. Group 1: Background and Context - The cotton planting area and yield in Shandong have been declining due to multiple factors, including falling cotton prices, differences in subsidy policies, and higher returns from alternative crops [1]. - The "Insurance + Futures" pilot project was initiated in 2019 with support from the Shandong Provincial Department of Agriculture and Rural Affairs and the Provincial Department of Finance, making it the first of its kind to be promoted at the provincial level [1]. Group 2: Project Implementation and Impact - As of 2024, the pilot project covers major cotton-producing areas such as Dongying and Jining, insuring a cotton planting area of 637,300 acres, benefiting approximately 150,000 cotton farmers, equivalent to a physical cotton scale of 51,000 tons [2]. - The government has provided a special premium subsidy of 70.11 million yuan, offering price risk protection amounting to 780 million yuan for cotton farmers in the province [2]. - The project has successfully compensated over 73 million yuan due to significant cotton price declines influenced by supply-demand imbalances, international trade tensions, and financial market volatility, effectively mitigating farmers' operational risks and stabilizing their income [2]. Group 3: Recognition and Future Plans - The "Insurance + Futures" model has been recognized as one of the first innovative products in financial support for agriculture in Shandong, contributing to the company's reputation in the sector [2]. - The company plans to continue innovating the "Insurance + Futures" model, aiming to expand the range of covered products, enhance protection amounts, and establish a long-term mechanism involving farmer participation, government subsidies, insurance protection, and futures hedging [2].

Core Viewpoint - The "Insurance + Futures" innovative model for cotton price targeting has been recognized as a benchmark practice in supporting rural revitalization in Shandong Province, showcasing the financial industry's role in empowering agriculture and rural development [1][2]. Group 1: Background and Context - The cotton planting area and production in Shandong have been declining due to multiple factors, including falling cotton prices, differences in subsidy policies, and higher returns from alternative crops, posing significant challenges for cotton farmers [1]. - The "Insurance + Futures" pilot project was initiated in 2019 with support from the Shandong Provincial Department of Agriculture and Rural Affairs and the Provincial Department of Finance, making it the first innovative practice of its kind to be promoted at the provincial level in China [1]. Group 2: Project Implementation and Impact - As of 2024, the pilot project covers major cotton-producing areas such as Dongying and Jining, insuring a cotton planting area of 637,300 acres, benefiting approximately 150,000 cotton farmers, equivalent to a cash cotton scale of 51,000 tons [2]. - The government provided a special premium subsidy of 70.11 million yuan, offering price risk protection amounting to 780 million yuan for cotton farmers across the province [2]. - The project effectively mitigated the operational risks faced by farmers, resulting in over 73 million yuan in compensation due to significant price declines caused by supply-demand imbalances, international trade tensions, and market volatility [2]. Group 3: Future Outlook - As one of the first futures companies to implement the "Insurance + Futures" model, the company has received recognition for its innovative financial products and aims to deepen this model, expand coverage, and enhance protection amounts [2]. - The company is committed to building a long-term mechanism involving farmer participation, government subsidies, insurance protection, and futures hedging to contribute to high-quality agricultural development and rural revitalization in Shandong [2].

Group 1 - The board meeting of Zhongtai Futures (01461.HK) is scheduled for August 29, 2025, to review and approve the interim results for the six months ending June 30, 2025 [1]

中 泰 期 貨 股 份 有 限 公 司（「本公司」）董 事 會（「董事會」）謹 此 宣 佈，董 事 會 會 議 將 於 二 零 二 五 年 八 月 二 十 九 日（星 期 五）舉 行，藉 以 審 議 及 批 准（其 中 包 括）本 公 司 及 其 附 屬 公司截至二零二五年六月三十日止六個月之中期業績及其發佈。 承董事會命 中泰期貨股份有限公司 董事長 呂祥友 香港交易及結算所有限公司及香港聯合交易所有限公司對本通告之內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示，概不會就本公告全部或任何部分內容而產生或因倚賴該等內容而引致之任 何損失承擔任何責任。 （在中華人民共和國註冊成立的股份有限公司） （股份代號：01461） 董事會會議通知 ZHONGTAI FUTURES Company Limited 中泰期貨股份有限公司 本公告乃根據香港聯合交易所有限公司證券上市規則第13.43條之規定而發佈。 中 國，濟南 二 零二五年八月十九日 於本公告日期，董事會成員包括執行董事呂祥友先生、周順遠先生及梁中偉先生；非執行董事鄭韓胤先生、 明鋼先生及王惠女士；及獨立非執行董事鄭堅平先生、陳華先生及羅新華先 ...

Group 1: Market Overview - The silver market is expected to maintain a strong trend after a short-term adjustment, despite increasing uncertainties and volatility [1][3] - In late July 2025, silver prices surged, breaking through historical resistance levels, reaching a high of $39.52 per ounce in London and $39.91 per ounce on COMEX [1][2] - Following the peak, silver prices experienced a correction, dropping to $36.19 per ounce before rebounding to around $37.6 per ounce [1] Group 2: Economic Factors - Fluctuating global trade relations have impacted silver prices, with initial concerns over economic recession leading to a significant drop, followed by a recovery as trade negotiations progressed [2] - The expectation of interest rate cuts by the Federal Reserve has created a favorable environment for silver, with market predictions suggesting multiple rate cuts in the latter half of 2025 [2][3] Group 3: Technical Analysis - Silver and copper prices often move in tandem, with strong copper performance providing upward momentum for silver [3] - Technical indicators suggest that silver's price trajectory remains robust, supporting the likelihood of continued strength in the market [3] Group 4: Risk Management Strategies - In a high-volatility environment, futures protection and risk management are critical, with options strategies gaining prominence due to their flexibility and hedging capabilities [4] - Options strategies allow investors to achieve asymmetric returns, with limited losses and potential for significant gains, making them suitable for current market conditions [4]

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中泰期貨股份有限公司 呈交日期: 2025年8月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01461 | 說明 | H股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 277,090,000 | RMB | | | 1 RMB | | 277,090,000 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | | | 本月底結存 | | | 277,090,000 | RMB | | | 1 RMB | | 277,090,000 | | 2. 股份分類 ...