Nanhua Futures(SH:603093) Zhong Guo Zheng Quan Bao·2025-09-12 20:20Core Viewpoint - The demand for using the futures market to hedge risks and stabilize operations among real enterprises in China is rapidly increasing due to complex international situations and transformation challenges [1][2]. Group 1: Market Demand and Trends - The total amount of funds in China's futures market has exceeded 1.9 trillion yuan, with stable growth in trading volume and open interest [1]. - Enterprises are facing challenges such as insufficient demand, severe industry competition, longer payment cycles, and increased credit risks, leading them to utilize the futures market to mitigate market volatility [2]. Group 2: Challenges Faced by Enterprises - Many enterprises, especially small and medium-sized ones, struggle to effectively participate in the futures market due to limitations in professional personnel, risk management systems, and funding [2][3]. - A lack of independent and effective risk control systems in many enterprises leads to potential failures in hedging strategies, as key parameters may be determined by business departments without proper oversight [3]. Group 3: Industry Initiatives and Innovations - The futures industry is transitioning from traditional channel providers to strategic partners in risk management for enterprises, offering innovative models like "insurance + futures" to lower participation barriers [1][5]. - South China Futures has launched 45 "insurance + futures" projects in rural revitalization, providing 746 million yuan in risk protection across 11 provinces [3]. Group 4: Global Expansion and Services - South China Futures has established a significant international presence, with its subsidiary, Honghua International, holding memberships in 16 major exchanges and providing comprehensive overseas financial services [4]. - The company has enhanced its overseas financial service capabilities by obtaining clearing seats at CBOE and ICEU, facilitating delivery services for enterprises [4]. Group 5: Education and Awareness - The industry is actively working to improve investor education and awareness regarding the futures market, aiming to shift perceptions from "high risk" to familiarity and effective application [6][7]. - South China Futures has established an investor education base and conducted 143 promotional activities in 2024, reaching over 5,000 enterprises and institutions [6].