Nanhua Futures(603093) 证券时报网·2025-01-20 15:45Core Viewpoint - Nanhua Futures is planning to issue H-shares and list on the Hong Kong Stock Exchange, aiming to deepen its global strategic layout as the first futures company listed in A-shares [1][2]. Group 1: H-Share Issuance Plan - On January 20, Nanhua Futures announced the approval of its plan to issue H-shares and list on the Hong Kong Stock Exchange during its board and supervisory meetings [2]. - The company aims to consider the interests of existing shareholders and the conditions of domestic and foreign capital markets when selecting the timing for the issuance within a 24-month period [2][3]. - The issuance and listing are subject to approval from the shareholders' meeting and relevant regulatory bodies, including the China Securities Regulatory Commission and the Hong Kong Stock Exchange [2][3]. Group 2: Internationalization Strategy - Nanhua Futures is focusing on internationalization, with its subsidiary, Honghua International, established in Hong Kong in 2006, holding memberships in multiple global futures exchanges [4]. - The company has been expanding its international business, which has shown rapid growth in recent years, contributing significantly to its overall performance [4]. - As of the end of June 2024, Honghua International reported total assets of 11.72 billion yuan and net assets of 1.55 billion yuan, with a revenue of 321 million yuan and a net profit of 200 million yuan during the reporting period [5]. Group 3: Financial Performance - For the first three quarters of 2024, Nanhua Futures reported total operating revenue of 4.461 billion yuan, a decrease of 7.99% year-on-year, while net profit attributable to shareholders increased by 20.07% to 358 million yuan [4]. - The company achieved a net profit of 230 million yuan in the first half of 2024, reflecting a year-on-year growth of 36.73% [5]. - The overall futures industry has shown improvement in profitability since September 2023, with total operating revenue reaching 36.491 billion yuan and net profit of 8.767 billion yuan for the year [6].