南华期货完成A+H上市并推进境外业务扩张

Core Viewpoint - Nanhua Futures (603093) successfully listed on the Hong Kong Stock Exchange on December 22, 2025, achieving an "A+H" dual platform listing, with H-shares priced at HKD 12 per share, raising net funds to enhance global business operations through its wholly-owned subsidiary, Nanhua International [1] Recent Events - On January 26, 2026, Nanhua USA LLC, a foreign subsidiary, obtained trading membership at the Nodal Exchange, expanding its presence in the North American market [2] - On February 9, 2026, the board approved a capital increase of HKD 1.203 billion for Nanhua International to strengthen its capital base in Hong Kong, the UK, the US, and Singapore, pending regulatory approval [2] Executive Changes - On December 12, 2025, the company announced the appointment of Mr. Chen Donghua as Deputy General Manager, while the previous Deputy General Manager was dismissed, following proper procedures [3] Company Status - On February 4, 2026, the company changed its auditing signatory accountants for the 2025 fiscal year to Tang Binbin and Lan Xiao, with the audit firm Tianjian confirming a smooth transition that would not affect the audit process [4] - On January 27, 2026, Southern Fund Management Co., Ltd. increased its holdings in the company's H-shares by 1.598 million shares, raising its stake to 6.04% [4] Recent Stock Performance - On January 27, 2026, H-shares surged over 9% during trading, reaching a new high of HKD 12.5, and were included as a target in the Shenzhen-Hong Kong Stock Connect [5] Regulatory Policies - In February 2026, the Guangzhou Futures Exchange reported penalties for violations in trading, emphasizing the need for enhanced risk control, which may impact the operational environment for futures companies [6]