Nanhua Futures(603093) 长江商报·2025-04-21 00:21Core Viewpoint - Nanhua Futures has submitted an application for an H-share IPO on the Hong Kong Stock Exchange, potentially becoming the second A+H listed futures company in China after Hongyi Futures [1][2]. Group 1: IPO and Market Position - Nanhua Futures submitted its H-share listing application on April 17, 2024, marking a significant step towards its IPO in Hong Kong [2]. - If successful, Nanhua Futures will join Hongyi Futures as the second A+H listed futures company in China [1][2]. - As of April 18, 2024, Nanhua Futures' A-share price was 12.32 CNY, with a total market capitalization of 7.516 billion CNY [1][2]. Group 2: Financial Performance - In 2024, Nanhua Futures reported operating revenue of 5.712 billion CNY, a decrease of 8.56% year-on-year, while net profit increased by 13.96% to 458 million CNY [1][5]. - The company’s total assets reached 48.863 billion CNY by the end of 2024, a growth of 34.52% compared to the previous year [5]. - Nanhua Futures' overseas business generated 654 million CNY in revenue, accounting for 11.45% of total revenue, with a year-on-year growth of 15.32% [5][6]. Group 3: Global Expansion and Business Segments - The primary reason for Nanhua Futures' Hong Kong listing is to deepen its global presence, with its overseas subsidiary achieving a net profit of 417 million CNY, up 16% [4][6]. - Nanhua Futures has established a comprehensive wealth management system, with its fund management products totaling 1.59 billion CNY and public fund scale reaching 14.805 billion CNY by the end of 2024 [6]. - The company has also seen steady growth in its off-exchange derivatives business, providing risk protection for agricultural entities amounting to 3.46 billion CNY [7].