南华期货通过港交所聆讯！又一家A+H期货公司来了

Core Viewpoint - Nanhua Futures is set to become the second A+H futures company as it has passed the IPO hearing and is entering the listing phase on the Hong Kong Stock Exchange [1][4]. Group 1: IPO Process - Nanhua Futures submitted its IPO application to the Hong Kong Stock Exchange on April 17, 2025, and published the application materials on the same day [4]. - The company received a confirmation from the China Securities Regulatory Commission (CSRC) regarding its overseas listing on September 19, 2025 [4]. - The listing hearing was held by the Hong Kong Stock Exchange on November 20, 2025, and the post-hearing information was published on December 2, 2025 [4]. Group 2: Company Overview - Nanhua Futures was established in 1996 with a registered capital of 610 million yuan, and its largest shareholder is Hengdian Group Holding Co., Ltd., holding a 69.68% stake [5]. - The company became the first A-share listed futures company in August 2019 [5]. - As of the third quarter of 2025, Nanhua Futures reported total operating 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% year-on-year [5]. Group 3: Industry Context - The Chinese futures market has shown strong growth, with total market funds exceeding 2 trillion yuan by October 2025, a 24% increase from the end of the previous year [5]. - The number of effective clients in the market surpassed 2.7 million, reflecting a 14% year-on-year growth [5]. - From January to October 2025, the total trading volume in the market reached 7.347 billion contracts, an increase of 14.86% year-on-year [5].