Core Viewpoint - Recently, Guangfa Futures Co., Ltd. has increased its registered capital from 2.05 billion RMB to 2.45 billion RMB, representing an increase of approximately 19.5% [1] Company Information - Guangfa Futures was established in March 1993 and is legally represented by Zhou Wei [1] - The company's business scope includes commodity futures brokerage, financial futures brokerage, futures investment consulting, asset management, and fund sales [1] - Guangfa Futures is wholly owned by Guangfa Securities (000776) [1]

蓝鲸新闻2月11日讯，近日，中国证券监督管理委员会上海监管局发布行政监管措施决定书，剑指国富期货有限公司。 决定书显示，国富期货有限公司存在以下违规事实： 一是公司居间人管理不当，反映出公司风险管理不到位，内部控制存在缺陷。 二是公司武汉分公司在人员招录环节不够审慎，反映出公司对分支机构风险管理不到位，内部控制存在缺陷。 三是公司资管部门人员存在参与公司自营业务及经纪业务的情形，反映出公司未采取有效措施，保证公司资管业务与其他业务相隔离。 以上行为违反了《期货公司监督管理办法》《证券期货经营机构私募资产管理业务管理办法》的规定。中国证券监督管理委员会上海监管局现 决定对国富期货采取出具警示函的监督管理措施。 |9甲|亚比芬监管官理安贝云远山门以晏以甲肩，巴叮认仕仪到伞/大正 书之日起6个月内向有管辖权的人民法院提起诉讼。复议与诉讼期间, 上述监督管理措施不停止执行。 中国证券监督管理委员会上海监管局 2026年2月6日 ...

率或将下降。本周国内尿素企业库存继续下降，春节前下游补仓进度好于预期，工厂出货量较大。不过随 数据来源于第三方，观点仅供参考。市场有风险，投资需谨慎！ 着春节的临近，长途物流发运减少，后期尿素工厂或逐渐出现累库。UR2605合约短线预计在1770-1820区 研究员: 林静宜 期货从业资格号F03139610 期货投资咨询从业证书号Z0021558 间波动。 免责声明 本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不做任 何保证，据此投资，责任自负。本报告不构成个人投资建议，客户应考虑本报告中的任何意见或建议是否符合其特定状况。本 报告版权仅为我公司所有，未经书面许可，任何机构和个人不得以任何形式翻版、复制和发布。如引用、刊发，需注明出处为 瑞达期货股份有限公司研究院，且不得对本报告进行有悖原意的引用、删节和修改。 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 郑州尿素主力合约收盘价(日,元/吨) | 1797 | 12 郑州尿 ...

2 2019 | 2023-10 | 2024-10 | 0155707 | 25 | ETF-SPDR ETF-SLV RETF-SLV RETE | 2025-02 2025-05 | 2026-02 | 2025-08 | 2025-11 | 一黄金基差(AuT+D-期货连续) | -- COMEX金银比价 | -SHFE金银比价 | 一美元指数· | -- NYMEX轻质原油 | 一伦敦金现(右) | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 一白银价差(AgT+D-期货连续) | | | | | | | | | | | | | | | （1）行情回顾：2月10日，沪金期货主力合约收涨0.48%至1121.22元/克，沪银期货主力收涨1.97%至20284元/千克。 (2) 影响因素分析: 美国12月零售销售数据环比特平，低于预期，美元指数继续走弱，加上中东地缘局势不确定性仍旧较高等，贵金属价格延期仓稳回升态势. ffilfølsin 此外，中国央行连续第1 ...

Company Overview - Nanhua USA has gained trading membership on Nodal Exchange, becoming the first and only Chinese futures firm able to trade and clear related products listed on the exchange [1] - Nanhua USA is a subsidiary of Nanhua Futures, which provides comprehensive financial services including brokerage, asset management, and commodity trading [4] Market Position - Nodal Exchange holds a 56% share of the U.S. electricity futures market and offers over 1,000 location-specific contracts in North American power, natural gas, and environmental derivatives [2] - Nanhua Futures has established a full-license framework for multinational operations, covering memberships at 19 major global exchanges and clearing qualifications with 15 core clearinghouses [6] Financial Performance - From 2022 to 2024, Nanhua Futures' international business revenue grew at a compound annual growth rate of 68% [4] - As of June 2025, HGNH achieved client equity under overseas brokerage operations of HKD 17.8 billion [4] Service Capabilities - Nanhua Futures provides uninterrupted 24/7 services across key international financial hubs: Hong Kong, London, Chicago, and Singapore [5] - The company offers an integrated "trading plus clearing" solution in U.S. power and energy markets, enhancing capital efficiency for investors [2][3]

Group 1 - The overall market sentiment is weak, with expectations for steel prices to decline as demand remains subdued and winter storage is nearly complete [4][6][17] - Nationally, 30 provinces have set GDP growth targets for 2026, with several major economic provinces aiming for over 5% growth [4][15] - Excavator sales in January 2026 reached 18,708 units, a year-on-year increase of 49.5%, indicating strong demand in the construction sector [4][15] Group 2 - The average capacity utilization rate of independent electric arc furnace steel mills was 48.12%, a decrease of 7.59 percentage points week-on-week, but an increase of 44.85 percentage points year-on-year [5][16] - Total inventory of five major steel products increased by 4.6% week-on-week to 13.38 million tons, while weekly consumption decreased by 5.1% [5][16] - Rebar production decreased by 81,500 tons week-on-week to 1.9168 million tons, with total inventory rising by 440,400 tons to 5.1957 million tons [6][17] Group 3 - Hot-rolled steel production slightly decreased by 500 tons to 3.0916 million tons, with total inventory increasing by 36,200 tons [7][18] - The iron ore transaction volume on February 9 was 638,000 tons, a decrease of 19.4% week-on-week, reflecting a slowdown in market activity as the Spring Festival approaches [4][15] - The production of iron alloys remains under pressure, with prices fluctuating and demand from steel mills not meeting expectations [9][20]

本次公司使用募集资金对全资子公司横华国际增资，计划加强中国香港、英国、美国及新加坡的境外附 属公司的资本基础，以进一步扩展公司的境外业务、优化公司的境外业务架构，以及提升公司于全球市 场的竞争力及风险应对能力。本次增资行为未改变募集资金用途，不存在与募投项目的实施计划相抵触 的情况，不存在变相改变募集资金投向和损害股东利益的情况。追加内容 本文作者可以追加内容哦 ! 南华期货股份(02691)发布公告，公司于2026年2月9日召开的第五届董事会第五次会议，以9票同意、0 票反对、0 票弃权的表决结果审议通过了《关于对境外全资子公司增资的议案》。投资金额为12.03亿港 币(10.72亿元人民币，按中国人民银行公布的2026年2月6日人民币汇率中间价1港币=0.89080元人民币换 算) 。 南华期货股份(02691)发布公告，公司于2026年2月9日召开的第五届董事会第五次会议，以9票同意、0 票反对、0 票弃权的表决结果审议通过了《关于对境外全资子公司增资的议案》。投资金额为12.03亿港 币(10.72亿元人民币，按中国人民银行公布的2026年2月6日人民币汇率中间价1港币=0.89080元人民币换 算) ...

公司于2025年12月12日刊发的H股招股说明书已披露，公司H股全球发售所得款项净额全部用于横华国 际，计划加强香港、英国、美国及新加坡的境外附属公司的资本基础，以进一步扩展公司的境外业务、 优化公司的境外业务架构，以提升公司于全球市场的竞争力及风险应对能力。 格隆汇2月9日丨南华期货股份(02691.HK)公布，公司于2026年2月9日召开的第五届董事会第五次会议， 审议通过了《关于对境外全资子公司增资的议案》。拟向横华国际金融股份有限公司增资12.03亿港 元，增资采用现金出资方式，资金来源为公司发行境外上市股份(H股)募集资金。相关资金将按照国家 有关对外直接投资(ODI)资金出境的规范要求进行外币兑换支付，严格按照H股募集资金使用计划规范 使用。 ...

丹麦：与美国就格陵兰岛谈判未达预期。加拿大与法国在格陵兰岛开设领事馆。伊朗军方称空军处于最 高战备状态。外媒：美国航母已进入对伊发动打击的"阵地"。 【黄金期货行情表现】 2月9日，沪金主力暂报1125.94元/克，涨幅3.88%，今日沪金主力开盘价1104.00元/克，截至目前最高 1133.16元/克，最低1098.38元/克。 【宏观消息】 美国2月一年期通胀率预期初值3.5%，预期4%，前值4.00%。美国2月密歇根大学消费者信心指数初值 57.3，预期55，前值56.4。市场消息：美国财长贝森特表示，黄金看起来像是典型的投机性抛售行情。 他预计美联储不会迅速采取行动缩减资产负债表，即便是在被提名为美联储主席的沃什领导下也是如 此。 上周五晚间起，市场情绪回暖，美股大涨，美元走弱，金银价格相应从此前的悲观情绪中恢复并走强。 随后在周末，中国央行宣布连续第15个月增加黄金储备，与此同时，美国财长贝森特亦指出，此前金价 的下跌主要由投机性抛售驱动。这些因素共同增强了市场对以黄金为代表的贵金属资产的信心。正如我 们此前所强调，近期的价格波动更多是源于此前价格快速冲高后的情绪与风险释放，而支撑金银中长期 走势 ...

Core Viewpoint - Precious metals have shown a strong rebound, with significant increases in prices, particularly in silver and platinum, indicating a bullish trend in the market [1] Group 1: Price Movements - Silver futures in Shanghai surged over 8% [1] - Platinum prices increased by more than 10% [1] - Palladium prices rose over 6% [1] - Shanghai tin prices climbed more than 4% [1] Group 2: Market Trends - Domestic futures contracts exhibited mixed performance, with some commodities experiencing declines [1] - Notable declines included lumber, which fell over 2%, and both coke and low-sulfur fuel oil, which dropped more than 1% [1] Group 3: Central Bank Activity - The central bank has increased its gold holdings for 15 consecutive months, reflecting a strategic move to bolster reserves [1]