Group 1 - Nanhua Futures has received approval from the China Securities Regulatory Commission (CSRC) for its plan to issue H-shares and list on the Hong Kong Stock Exchange, marking significant progress in its listing process [2][3] - The company plans to issue up to 123,807,500 shares for its overseas listing, indicating that it has met domestic regulatory requirements and is moving to the next stage of the overseas approval process [3] - Nanhua Futures aims to deepen its global strategic layout through this listing, which is a continuation of its growth strategy since its initial public offering on the Shanghai Stock Exchange in August 2019 [3][4] Group 2 - If successful, Nanhua Futures will become the second A+H listed futures company in China, joining Hongye Futures, which is currently the only one [4] - According to Frost & Sullivan data, Nanhua Futures ranks 8th among all futures companies in China by total revenue in 2023 and ranks 1st among non-financial institution-related futures companies [4] - As of June 30, 2025, Nanhua Futures reported total operating revenue of 1.101 billion yuan, a year-on-year decrease of 58.27%, while its net profit attributable to shareholders increased by 1.0699 million yuan, marking a 0.46% year-on-year increase [5]

Core Viewpoint - Nanhua Futures has made significant progress in its plan to issue H-shares and list on the Hong Kong Stock Exchange, having received the necessary filing from the China Securities Regulatory Commission (CSRC) [1][2]. Group 1: Listing Progress - The company plans to issue up to 123,807,500 H-shares for listing on the Hong Kong Stock Exchange [2]. - The receipt of the CSRC's filing indicates that Nanhua Futures has met domestic regulatory requirements and is moving to the next stage of overseas approval [2]. - The company still needs to obtain approvals from the Hong Kong Securities and Futures Commission and the Hong Kong Stock Exchange, indicating that uncertainties remain [2][3]. Group 2: Company Background - Nanhua Futures was established in 1996 and successfully listed on the Shanghai Stock Exchange in August 2019 [4]. - The company primarily engages in commodity futures brokerage, financial futures brokerage, futures investment consulting, asset management, and securities investment fund distribution, serving as a global financial derivatives service platform [4]. - If successful, Nanhua Futures will become the second "A+H" listed futures company in China, following Hongye Futures [4]. Group 3: Financial Performance - According to the latest financial report, Nanhua Futures achieved total operating revenue of 1.101 billion yuan, a year-on-year decrease of 58.27% [4]. - The company reported a net profit attributable to shareholders of 231 million yuan, an increase of 1.0699 million yuan compared to the same period last year, marking three consecutive years of growth with a year-on-year increase of 0.46% [4].

Core Viewpoint - Nanhua Futures is in the process of applying for the issuance of overseas listed shares (H-shares) and plans to list on the main board of the Hong Kong Stock Exchange [1] Group 1 - The company has received a notification from the China Securities Regulatory Commission regarding the filing for overseas issuance and listing [1] - Nanhua Futures intends to issue no more than 124 million ordinary shares for overseas listing [1] - The company is actively working on the relevant procedures for the listing on the Hong Kong Stock Exchange [1]

Core Viewpoint - Nanhua Futures is in the process of applying for the issuance of overseas listed shares (H-shares) and plans to list on the main board of the Hong Kong Stock Exchange [1] Group 1 - The company has recently received a notice from the China Securities Regulatory Commission regarding the filing for overseas issuance and listing [1] - Nanhua Futures intends to issue no more than 124 million overseas listed ordinary shares [1] - The listing will take place on the Hong Kong Stock Exchange [1]

证券代码：603093 证券简称：南华期货 公告编号：2025-062 境外上市股份（H 股）获得中国证监会备案的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 南华期货股份有限公司（以下简称"公司"）正在进行申请发行境外上市股 份（H 股）并在香港联合交易所有限公司（以下简称"香港联交所"）主板挂牌 上市的相关工作，公司于近日收到中国证券监督管理委员会（以下简称"中国证 监会"）出具的《关于南华期货股份有限公司境外发行上市备案通知书》（国合函 〔2025〕1618 号）（以下简称"备案通知书"）。备案通知书主要内容如下： 一、公司拟发行不超过 123,807,500 股境外上市普通股并在香港联交所上市。 三、公司完成境外发行上市后 15 个工作日内，应通过中国证监会备案管理 信息系统报告发行上市情况。公司在境外发行上市过程中应严格遵守境内外有关 法律、法规和规则。 四、公司自备案通知书出具之日起 12 个月内未完成境外发行上市，拟继续 推进的，应当更新备案材料。 备案通知书仅对公司境外发行上市备案信息予以确认，不表明中 ...

Core Viewpoint - Nanhua Futures is applying for the issuance of overseas listed shares (H-shares) and plans to list on the main board of the Hong Kong Stock Exchange [1] Group 1: Company Actions - The company has received a notice from the China Securities Regulatory Commission regarding the filing for overseas issuance and listing [1] - The filing notice includes plans to issue no more than 124 million overseas listed ordinary shares [1] - The company must complete the overseas issuance and listing within 12 months, or it will need to update its filing materials [1] Group 2: Regulatory Information - The filing notice only confirms the filing information and does not guarantee investment value or returns [1]

Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core View The report suggests paying attention to the central bank's attitude. It anticipates that the central bank will mainly use open - market operations to maintain a stable money market before the holiday. Traders should adopt a range - bound trading strategy and avoid chasing high prices [1][3]. 3. Key Points from Different Sections 3.1. Market Review - On Monday, bond futures rebounded across the board, and spot bond yields declined. The central bank started to inject cross - quarter funds through 7 - day and 14 - day reverse repurchase operations, with a total of 540.5 billion yuan and a net injection of 260.5 billion yuan. The money market continued to ease compared to last week, and the DR001 rate dropped to 1.43% [1]. 3.2. Intraday News - The September LPR quotes remained unchanged, with the 5 - year - plus LPR at 3.5% and the 1 - year LPR at 3%. - Pan Gongsheng stated that the financial reform content for the "15th Five - Year Plan" and beyond will be further communicated after the central government's unified deployment [2]. 3.3. Market Analysis - There was no incremental positive news in the market today. The unchanged LPR quote in the morning met expectations, and the press conference in the afternoon on the achievements of the 14th Five - Year Plan for financial development had no incremental policy information. The market rebound was mainly a correction of the pessimistic sentiment on Friday [3]. 3.4. Futures Data | Contract | 2025 - 09 - 22 Price | 2025 - 09 - 19 Price | Price Change | 2025 - 09 - 22 Position (Lots) | 2025 - 09 - 19 Position (Lots) | Position Change | | --- | --- | --- | --- | --- | --- | --- | | TS2512 | 102.396 | 102.358 | 0.038 | 76,728 | 75,499 | 1,229 | | TF2512 | 105.76 | 105.63 | 0.13 | 151,551 | 148,476 | 3,075 | | T2512 | 107.945 | 107.755 | 0.19 | 251,433 | 249,865 | 1,568 | | TL2512 | 115.09 | 114.88 | 0.21 | 169,375 | 169,501 | - 126 | | TS Basis (CTD) | - 0.0141 | - 0.0347 | 0.0206 | TS Main Contract Volume (Lots) | 28,858 | 35,797 | - 6,939 | | TF Basis (CTD) | 0.0369 | - 0.0542 | 0.0911 | TF Main Contract Volume (Lots) | 50,317 | 92,239 | - 41,922 | | T Basis (CTD) | 0.1268 | 0.019 | 0.1078 | T Main Contract Volume (Lots) | 79,097 | 140,197 | - 61,100 | | TL Basis (CTD) | 0.6336 | 0.4458 | 0.1878 | TL Main Contract Volume (Lots) | 113,691 | 179,539 | - 65,848 | [4][5]

Group 1 - The China Securities Regulatory Commission has issued a notice regarding Nanhua Futures Co., Ltd.'s plan to issue up to 123,807,500 overseas listed ordinary shares and list them on the Hong Kong Stock Exchange [1] - Nanhua Futures is a financial service provider focused on futures and derivatives, headquartered in China, offering comprehensive and customized derivative and risk management services to industrial clients, financial institutions, and individual investors [3] - According to a Frost & Sullivan report, Nanhua Futures ranks 8th among all futures companies in China by total revenue in 2023, and 1st among all non-financial institution-related futures companies; it ranks 12th by futures brokerage commission income and 1st in overseas income among all futures companies in China [3]

Group 1 - The China Securities Regulatory Commission has issued a notice regarding Nanhua Futures Co., Ltd.'s plan to issue up to 123,807,500 overseas listed ordinary shares and list them on the Hong Kong Stock Exchange [1] - Nanhua Futures is a financial service provider focused on futures and derivatives, headquartered in China, offering comprehensive and customized derivative and risk management services to industrial clients, financial institutions, and individual investors [3] - According to a Frost & Sullivan report, Nanhua Futures ranks 8th among all futures companies in China by total revenue in 2023, and ranks 1st among all non-financial institution-related futures companies; it ranks 12th by futures brokerage commission income and 1st by overseas income among all futures companies in China [3]

Group 1 - The China Securities Regulatory Commission has issued a notice regarding Nanhua Futures Co., Ltd.'s application for overseas listing, allowing the company to issue up to 123,807,500 shares for listing on the Hong Kong Stock Exchange [1] - Nanhua Futures is a financial service provider headquartered in China, focusing on futures and derivatives, offering comprehensive and customized risk management services to industrial clients, financial institutions, and individual investors [3] - According to a Frost & Sullivan report, Nanhua Futures ranks 8th among all futures companies in China by total revenue in 2023, and ranks 1st among non-financial institution-related futures companies [3] Group 2 - In terms of futures brokerage commission income, Nanhua Futures ranks 12th among all futures companies in China for 2023 [3] - The company ranks 1st among all futures companies in China based on overseas income for 2023 [3]