Nanhua Futures Co.,Ltd. (603093.SH) has released its 2025 annual report, delivering robust performance metrics that highlight strong operational resilience. Amid a complex global economic landscape characterized by increased divergence and heightened commodity price volatility, the company achieved simultaneous growth in both revenue and net profit through steady management strategies and forward-looking international expansion. Notably, its net profit attributable to shareholders reached a historic high, positioning the firm as an industry benchmark for counter-cyclical growth and providing solid earnings support for investors.
Overseas business emerged as a key growth driver, with its contribution to total revenue exceeding 50% for the first time. In 2025, Nanhua Futures recorded operating revenue of RMB 13.88 billion, a year-on-year increase of 2.45%, maintaining steady growth despite broader industry headwinds. More impressively, net profit attributable to shareholders rose by 6.18% to RMB 486 million, setting a new record and underscoring the company’s strong profitability and risk resilience.
The sustained improvement in profitability was largely driven by the rapid expansion of overseas financial services, which stood out as a major highlight in the annual report. Overseas financial service revenue reached RMB 758 million in 2025, surging 15.79% year-on-year and accounting for over half of total revenue for the first time. This segment also achieved a gross margin of 66.26%, significantly above the industry average, making it the company’s most profitable core business and a major contributor to net profit growth.
The strong performance of overseas operations is underpinned by the company’s extensive licensing portfolio and service capabilities built over years of dedicated effort. To date, Nanhua Futures has secured 19 membership qualifications and 15 clearing member seats across major global exchanges, including CME Group, LME, Hong Kong Exchanges and Clearing, and Singapore Exchange. This enables integrated trading and clearing services, streamlining processes, reducing transaction costs, and enhancing risk management differentiation.
In July 2025, the company became one of the first institutions to hold warrants for LME Hong Kong delivery warehouses, further strengthening its influence in the global commodities market and injecting new momentum into overseas business growth.
Another milestone for investors was the company’s successful listing on the Main Board of the Hong Kong Stock Exchange on December 22, 2025, establishing a dual capital platform structure with both A-share and H-share listings. Proceeds from the Hong Kong listing will be used to strengthen the capital base of its overseas subsidiary, Heng Hua International, and further expand overseas financial services, signaling a continued deepening of the company’s global strategy and the potential for enhanced returns for shareholders.
Alongside strengthening its core business, Nanhua Futures is actively cultivating new profit drivers to support long-term growth. In 2025, the company focused on expanding its wealth management segment, leveraging licenses in asset management, securities investment fund distribution, and public fund operations to enhance business layout, deepen institutional client cooperation, and promote specialized commodity index products. The coordinated development of wealth management services not only diversifies the company’s profit structure but also improves its ability to withstand economic cycles, offering investors greater stability in long-term returns.
Looking ahead to 2026, global economic uncertainties are expected to persist, and commodity market volatility may continue to intensify. However, with its well-established international presence, strong core business profitability, and the support of a dual A+H capital platform, Nanhua Futures is well-positioned to reinforce its growth foundation in a challenging environment. For investors, the company’s record-high net profit, high-margin overseas operations, and enhanced capital platform underscore its long-term investment value. As overseas business continues to expand and new profit centers mature, the company is expected to achieve further breakthroughs and create greater value for shareholders.