近日，2025全球期货交易者大会暨第十九届全国期货(期权)实盘交易大赛、第十二届全球衍生品实盘交易大赛 颁奖大会圆满落幕。徽商期货一举将指定交易商奖、郑商所期权交易商奖一等奖和广期所多晶硅优秀交易商奖 一等奖三大重磅奖项收入囊中，以"连中三元"的佳绩，展现了其在期货及衍生品领域的实力。徽商期货董事 长、总经理储进受邀出席大会。 "指定交易商奖"是硬实力的体现，代表了市场与客户对其稳定高效的交易系统、专业周到的服务品质的广泛信 赖；"郑商所期权交易商奖一等奖" 是专业深度的象征，凸显了公司在复杂的期权衍生品交易领域精湛的风险定 价能力和较好的交易执行水平；"广期所多晶硅优秀交易商奖一等奖" 是创新与前瞻性的证明，展示了公司在新 兴品种和绿色金融领域精准布局，并成功服务于实体产业的卓越成果。这三项大奖，分别从综合平台、金融衍 生品和创新商品三个维度，勾勒出一家全能型、专业化现代期货公司的清晰画像。 当前，中国衍生品市场正迎来前所未有的发展机遇。期权工具的普及、新能源品种的壮大，要求企业要具备更 前瞻的视野和更扎实的内功。徽商期货将持续聚焦科技驱动与产业深耕双战略，致力于成为客户身边最值得信 赖的风险管理伙伴和财富 ...

Group 1 - The article emphasizes the importance of long-term performance in the capital market, highlighting that strategies need to be continuously learned and iterated to achieve sustained profits [1] - It categorizes private equity products into "long-distance running" types, focusing on those with outstanding performance over the past five years and those established for over ten years, referred to as "double ten funds" [1] - As of July 2025, there are 61 private equity products that have been established for ten years, with 32 of them achieving an annualized return of over 10%, accounting for approximately 52% [2] Group 2 - Among the "double ten funds," 14 products reached historical highs in July 2025, with 25 of them being subjective long/short products [2] - Notable private equity firms such as Evolutionary Assets, Shenzhen Yitong Investment, Tonghe Investment, and Zhongrui Huyin each have two products listed among the top performers [3] - The article provides a detailed table of various private equity products, including their strategies, sizes, and performance metrics, showcasing the diversity in the market [4][5] Group 3 - The subjective long/short product "Xi Wa Xiao Niu No. 1," managed by Liang Hong, was established near the peak of the last bull market and has shown significant returns [5][6] - Liang Hong expresses a preference for core companies that can be compared with international leaders, rather than supply chain stocks [6][7] - The article also discusses the performance of quantitative long/short products, noting that the average annualized return for these products over the past five years is 13.27% [12] Group 4 - The multi-asset strategy products have an average annualized return of 10.84% over the past five years, with several products reaching historical highs in July 2025 [16] - The article highlights the performance of bond strategy products, which have an average annualized return of 11.87% over the past five years, with many products achieving historical highs recently [24] - It concludes with a focus on the performance of futures and derivatives strategy products, which also show strong returns and historical highs [20]

导 语：IPO前猛发利好，南华期货是在为估值铺路，还是在冲刺最后的窗口？ 南华期货股份有限公司在港交所递交的招股书显示，公司拟通过此次 IPO 进一步拓展业务版图。此 次发售股份相关细节暂未完全确定，中信证券担任独家保荐人。 南华期货此次 IPO 拟募集资金，计划用于增强境外资本基础及服务能力等战略方向，这一举措有望 为公司在全球市场竞争中提供有力支持。 南华期货是一家专注于期货及衍生品的全球领先金融服务提供商，起源于 1996 年，总部位于杭 州。公司构建了多元化的业务体系，涵盖中国境内期货经纪、风险管理服务、财富管理以及境外金 融服务，业务范围广泛，覆盖了期货及衍生品的全价值链。 例如，利率波动对公司财务状况和经营业绩影响较大，2022 - 2024 年，净利息收入分别为 3.265 亿 元、5.454 亿元及 6.818 亿元，占同年经营收入和经调整经营收入的一定比例，利率的不稳定可能 会给公司盈利带来不确定性。 从投资价值分析，南华期货具备诸多优势。公司作为中国期货及衍生品市场的先行者和领导者，积 累了丰富的行业经验和深厚的客户基础。其多元化的业务模式和强劲的财务增长为投资提供了一定 的保障。 在技术 ...