Nanhua Futures (603093) Q1 2026 earnings summary

Executive summary

• Q1 revenue rose 60.66% YoY to RMB 433.1m; net profit attributable to shareholders increased 138.82% to RMB 204.8m.

• Active futures-market investment and higher client equity lifted client trading volumes, revenue and profit.

• Q1 financial statements were unaudited.

Financial highlights

• Total revenue was RMB 433.1m, up 60.66% YoY; fee and commission net income rose to RMB 187.4m from RMB 106.6m.

• Profit before tax was RMB 235.8m, up 143.62% YoY; net profit was RMB 205.4m versus RMB 85.9m.

• Net profit attributable to shareholders reached RMB 204.8m, up 138.82% YoY; adjusted for non-recurring items, it was RMB 204.8m, up 139.10%.

• Basic and diluted EPS were RMB 0.29, up 107.14% YoY from RMB 0.14.

• Total assets increased 19.32% from year-end to RMB 78.12bn; shareholders’ equity rose 2.88% to RMB 5.76bn.

Key financial ratios and metrics

• Weighted average ROE was 3.61%, up 1.54 percentage points YoY from 2.07%.

• Operating cash flow was RMB 5.32bn, compared with an outflow of RMB 11.76bn in Q1 2025.

• Net capital was RMB 1.75bn versus RMB 2.74bn at year-end; net capital/risk capital reserves fell to 137% from 240%.

• Net capital/net assets declined to 41% from 65%; current assets/current liabilities were 536% versus 696%.