On June 28 this year, the China Securities Regulatory Commission (CSRC) issued the Announcement of the 71st Working Conference of the 18th Development and Examination Commission in 2019. South China Futures became the first futures company in China to formally hold the meeting. On the evening of July 4, China Securities Regulatory Commission issued the results of the issuance review, which showed that the South China Futures Initial was approved.
Since the companys first budget disclosure in November 2015, the A-share IPO of South China Futures has lasted for nearly four years. According to public information, South China Futures applies for listing on the main board of the Stock Exchange. The sponsor is CITIC Securities. The company made a pre-disclosure update on April 9 last year. The number of shares issued by the South China Futures Plan does not exceed 70 million.
South China Futures belongs to Hengdian Department. According to Qixinbao data, the majority shareholder of the company is Hengdian Group Holdings Co., Ltd., holding 83.36%. Dongyang Henghua Investment Partnership (Limited Partnership) is the second largest shareholder of the company, holding 4.8%. It is noteworthy that listed companies also appear in the list of shareholders of South China Futures, with 1.96% of the shares held by Hengdian Group Dongmagnet Co., Ltd.
The first futures company to have a public offering
The overall development momentum of South China futures in recent years is good. According to the companys prospectus, from 2015 to 2017, the net profit of Nanhua futures has increased continuously. In 2017, the net profit of the company returned to its mother was 196 million yuan, which was significantly higher than 82.7885 million yuan in 2015.
In addition, according to relevant information released by China Futures Association, South China Futures has achieved excellent results in the classification evaluation of futures companies for many years in succession, and in the past two years, it has been awarded the highest AA grade.
Under the environment of increasingly fierce competition in futures brokerage business, South China futures has made many breakthroughs in diversified operation. Among them, public fund business is the most distinctive in the industry. Nanhua is the first futures company with public fund company.
On October 18, 2016, Nanhua Futures was approved by China Securities Regulatory Commission to set up Nanhua Fund Management Co., Ltd. on November 17, 2016. It was registered by industry and commerce. The registered capital of the company was 150 million yuan, making it the first public fund company in the futures department. At present, there are 11 fund products in South China Fund, which cover three categories: mixed type, bond type and index type.
In addition to its public funds, South China Futures is also in the forefront of the industry on the road of internationalization. The company is one of the first futures companies to go to sea. At present, we have branches in Hong Kong, Singapore, London and other places and carry out related business.
Luo Xufeng, general manager of the company, has 26 years of experience in Chinas futures industry. He has conducted in-depth and professional research on futures and financial derivatives. At present, he is the vice-chairman of China Futures Association and the chairman of the International Business Committee, the member of the Board of Directors of Shanghai Futures Exchange, the supervisor of Dalian Commodity Exchange, the member of the Advisory Committee of Zhengzhou Commodity Exchange, the member of the Risk Committee of China Financial Futures Exchange and the vice-chairman of Zhejiang Futures Industry Association.
The bright spot of futures industry keeps on rising
The futures industry has been highlighted continuously since this year. As far as the new varieties are concerned, five futures options, Tianjiao option, corn option, cotton option, jujube futures and urea futures, have been listed so far. The rubber futures No. 20 and japonica rice futures will also be officially listed next Monday. The successive listing of these new varieties will undoubtedly bring benefits to the development of Chinas futures market and futures companies.
It is also worth noting that in April this year, CIFIC further optimized the trading arrangements of stock index futures, and the function of the stock index futures market has been restored to a great extent. Although the daily average volume is still far behind the pre-2015 limit, the daily average position, an important indicator reflecting the depth of the market, has quietly reached a new high.
In addition, with the gradual effectiveness of futures services to the real economy, the trading situation of domestic futures market has also improved. Interim Association data show that the volume of futures market transactions in July this year was 415.03 million hands, 24.21% higher than that in June, 66.44% higher than that in June, and 29.95% higher than that in January-July this year.
Under the background of good market development, the listing of futures companies is logical. Fang Xinghai, vice chairman of the Securities Regulatory Commission, made it clear at the 13th China Futures Analysts and OTC Derivatives Forum held in April this year that we should strengthen policy support, vigorously promote the listing of A shares of eligible futures companies, enhance the overall strength of institutions and cultivate the backbone of the industry. In addition to South China Futures, Ryda Futures has also successfully met before, and will be landed on the Shenzhen Stock Exchanges small and medium-sized boards.
Source: Han Yukun_NBJ11142, China Responsible Editor of Securities Dealers