Sou Hu Cai Jing·2025-11-02 18:36Core Viewpoint - The performance of four A-share listed futures companies in the third quarter shows significant divergence, with Ruida Futures leading in net profit growth at 42.15% year-on-year, while the overall industry is experiencing substantial growth in market scale and regulatory improvements [2][4]. Group 1: Company Performance - Ruida Futures reported a total operating revenue of 1.62 billion yuan, a year-on-year decrease of 2.87%, with a net profit of 386 million yuan, marking a 42.15% increase [2]. - Yong'an Futures achieved an operating revenue of 8.36 billion yuan, down 55.26% year-on-year, but its net profit rose by 13.31% to 475 million yuan [2]. - Nanhua Futures had an operating revenue of 941 million yuan, a decline of 8.27%, with a net profit of 351 million yuan, down 1.92% [3]. - Hongye Futures reported an operating revenue of 462 million yuan, a significant drop of 76.77%, and a net profit of 209,970 yuan, down 87.27% [3]. Group 2: Market Trends - As of October 9, 2025, the total funds in China's futures market exceeded 2 trillion yuan, reaching approximately 2.02 trillion yuan, a 24% increase from the end of 2024 [4]. - The total client equity of futures companies was about 1.91 trillion yuan, also reflecting a 24% growth compared to the end of 2024 [4]. - The number of effective clients in the market surpassed 2.7 million, a 14% increase year-on-year, with institutional clients growing by 3% and foreign clients by 11% [5]. Group 3: Regulatory Developments - The China Futures Association announced the implementation of the "Futures Market Making Business Management Rules" starting December 1, 2025, which aims to enhance the management and risk prevention of market-making activities [5][6]. - As of September 2023, 38 companies were engaged in market-making for 61 futures varieties, and 33 companies were involved in market-making for 69 options varieties [6].