财务内控漏洞频现 收入确认“变脸” 瑞达期货多次遭监管处罚

Core Viewpoint - In Q1 2025, Ruida Futures (002961) reported impressive growth in revenue and net profit, leading the listed futures companies, but internal control issues were highlighted by regulatory penalties for accounting irregularities [1][2] Financial Performance - Ruida Futures adjusted its revenue recognition method from "gross method" to "net method," resulting in a reduction of reported total revenue and expenses for 2022 by 77.21 million yuan [2] - The adjustments led to a decrease in Q1 total revenue from 384 million yuan to 306 million yuan and total expenses from 251 million yuan to 184 million yuan [3] - For the annual report, total revenue was adjusted from 2.106 billion yuan to 2.029 billion yuan, and total expenses from 1.709 billion yuan to 1.632 billion yuan [3] Regulatory Actions - The Xiamen Securities Regulatory Bureau issued a penalty to Ruida Futures for inadequate internal control management, specifically regarding its subsidiary Ruida New Control Capital Management [2][5] - Ruida Futures has faced four public penalties in 2024 alone, indicating a pattern of compliance issues [5][6] - The company received a warning letter and was ordered to rectify issues related to internal compliance checks and management of personnel [3][6] Industry Compliance Trends - The frequent penalties faced by Ruida Futures reflect a broader trend in the futures industry towards stricter compliance and regulatory oversight [8] - In 2024, the China Futures Association disciplined 14 futures companies and 118 individuals, indicating an increase in regulatory actions compared to previous years [8] - The industry is shifting from "passive compliance" to "active governance," emphasizing the need for effective internal control systems [9]