Core Viewpoint - Nanhua Futures is accelerating its H-share listing plan to become the second "A+H" futures company in China, aiming to expand financing channels and enhance its international presence, particularly in overseas business operations [1][3]. Company Overview - Nanhua Futures, established in 1996, is the first listed futures company in A-shares, focusing on futures brokerage, wealth management, risk management, overseas financial services, and futures investment consulting [2]. - The company has made significant strides in its overseas business, with its subsidiary, Honghua International, becoming a major profit source [2][3]. Financial Performance - Nanhua Futures reported operating revenues of approximately 68.23 billion yuan, 62.47 billion yuan, and 57.12 billion yuan for the years 2022, 2023, and 2024, respectively, with net profits of about 2.46 billion yuan, 4.03 billion yuan, and 4.58 billion yuan [2]. - Honghua International's revenues and net profits have also shown steady growth, indicating its importance to Nanhua's overall financial health [3]. Strategic Goals - The H-share listing is intended to deepen global strategic layout, enhance financing capabilities, and solidify the company's competitive edge in overseas markets [3][4]. - Nanhua Futures aims to integrate its clearing license layout and build a comprehensive financial service platform through the H-share listing [4]. Industry Context - The futures industry in China is experiencing increased competition, with leading companies innovating and differentiating themselves to capture market share [1][12]. - The overall performance of the futures industry has been under pressure, with a decline in revenues and profits for many companies, highlighting the need for strategic transformation [12][14].

18家公司净利润超亿元 据《证券日报》记者统计，上述53家期货公司去年合计实现净利润近80亿元，相较2023年的75亿元略有 增长。 数据显示，上述53家期货公司涵盖了多数头部机构、部分中小型公司。从去年净利润表现来看，多数公 司较上一年度有所增长。 具体来看，虽然有18家公司跻身净利润"亿元俱乐部"，但仅有半数净利润实现同比增长；此外，去年净 利润在1亿元以内的有29家公司，多数实现同比扭亏或利润增长，例如，宏源有限公司、大越期货股份 有限公司、格林大华期货有限公司、中电投先融期货股份有限公司等；另有6家公司去年亏损，例如， 红塔期货有限责任公司、华龙期货股份有限公司、渤海期货股份有限公司、混沌天成期货股份有限公司 等，其中去年亏损最多的超过了7000万元。 截至目前，上市期货公司和全国中小企业股份转让系统（以下简称"新三板"）挂牌期货公司2024年财报 披露结束，53家公司去年的经营情况全部揭晓。整体来看，企业经营稳中有进、韧性较强。 本报记者 王宁 据了解，去年南华期货进一步扩大了清算业务规模并探索经纪业务本地化，推动公司业务规模及客户权 益规模持续增长，收入结构获得明显改善。此外，永安期货股份有限公司 ...