瑞达期货前三季度营收16.21亿元同比降2.87%，归母净利润3.86亿元同比增42.15%

Core Insights - The report indicates that Ruida Futures experienced a revenue decline of 2.87% year-on-year for the first three quarters of 2025, totaling 1.621 billion yuan, while net profit increased by 42.15% to 386 million yuan [1][2]. Financial Performance - Basic earnings per share for the reporting period were 0.87 yuan, with a weighted average return on equity of 12.64% [2]. - The company's gross profit margin was 31.92%, up by 10.55 percentage points year-on-year, and the net profit margin was 23.93%, an increase of 7.68 percentage points compared to the previous year [2]. Market Metrics - As of October 27, 2025, the price-to-earnings ratio (TTM) for Ruida Futures was approximately 21.59 times, the price-to-book ratio (LF) was about 3.38 times, and the price-to-sales ratio (TTM) was around 5.51 times [2]. Shareholder Dynamics - By the end of Q3 2025, the total number of shareholders was 21,400, a decrease of 8,681 shareholders or 28.81% from the end of the previous half [2]. - The average market value of shares held per shareholder increased from 310,200 yuan to 447,200 yuan, reflecting a growth of 44.15% [2]. Business Overview - Ruida Futures, established on March 24, 1993, and listed on September 5, 2019, is based in Xiamen, Fujian Province. Its main business includes futures brokerage, investment consulting, and asset management, with risk management services, overseas financial services, and public fund operations conducted through wholly-owned subsidiaries [2]. - The revenue composition of the main business is as follows: risk management services 63.85%, futures brokerage 23.31%, asset management 11.57%, and others 1.27% [2]. Industry Classification - Ruida Futures is classified under the non-bank financial sector, specifically in diversified finance and futures [3]. The company is associated with concepts such as QFII holdings, futures, financial technology, internet finance, and mid-cap stocks [3].