Nanhua Futures (603093) Q2 2026 earnings summary

Executive summary

• H1 2026 revenue was RMB879.14m, up 48.18% YoY; attributable net income rose 67.91% to RMB388.31m, with adjusted net income of RMB384.48m.

• Growth reflected higher client trading activity and customer equity balances; brokerage commissions and net interest income increased 66.87% and 64.22%, respectively.

• Results were unaudited; global and domestic market volatility, currency movements and regulatory developments remain key operating sensitivities.

Financial highlights

• Total revenue reached RMB879.14m versus RMB593.31m YoY; pretax profit was RMB448.52m, up 74.22%.

• Attributable net income was RMB388.31m, up 67.91%; adjusted for non-recurring items, net income was RMB384.48m, up 65.88%.

• Net operating cash flow was RMB5.41bn versus an outflow of RMB5.11bn in H1 2025, mainly reflecting growth in client equity balances.

• Total assets rose 16.79% from year-end to RMB76.47bn; total liabilities increased 17.96% to RMB70.62bn, while parent equity grew 4.32% to RMB5.84bn.

• Net interest income was RMB415.95m, up 64.22%; investment income was RMB151.81m, up 23.49%; net hedge-position result was a loss of RMB45.90m.

Outlook and guidance

• Strategic priorities remain multi-business and cross-border coordination, institutional and industrial client services, risk management, digital capabilities and service to the real economy.

• H2 plans include extending “insurance + futures” services, building out international commodity clearing coverage and continuing AI, data-platform and domestic technology substitution initiatives.

• Forward-looking strategy and plans are not substantive commitments to investors; performance remains exposed to domestic and international financial-market changes.