Nanhua Futures(SH:603093) Sou Hu Cai Jing·2025-12-04 07:56Core Viewpoint - Nanhua Futures (603093) shows a mixed financial performance with a slight increase in stock price but a decline in revenue and profit metrics, indicating potential challenges ahead in the multi-financial industry [1][2]. Financial Performance - As of December 4, 2025, Nanhua Futures closed at 19.07 yuan, up 1.01% with a trading volume of 54,000 lots and a turnover of 103 million yuan [1]. - For the first three quarters of 2025, the company reported a main revenue of 941 million yuan, a year-on-year decrease of 8.27%, and a net profit attributable to shareholders of 351 million yuan, down 1.92% [2]. - The third quarter of 2025 saw a significant increase in quarterly main revenue to -160 million yuan, up 90.07% year-on-year, while net profit for the quarter was 120 million yuan, down 6.21% [2]. Industry Comparison - Nanhua Futures has a total market value of 11.634 billion yuan, which is below the industry average of 22.384 billion yuan, ranking 13th out of 21 in the multi-financial sector [2]. - The company's net asset stands at 4.405 billion yuan, also below the industry average of 25.234 billion yuan, ranking 14th [2]. - The price-to-earnings ratio (P/E) is 24.83, significantly lower than the industry average of 209.24, ranking 11th [2]. Investment Ratings - In the last 90 days, four institutions have rated Nanhua Futures, with one buy rating and three hold ratings, and the average target price set at 22.53 yuan [3].