A-share listed futures companies are expected to expand. On July 5, Xinhu Futures, a financial company under the “Xinhu Department”, pre-disclosed its IPO prospectus.
Shell Finance reporter learned that there are currently 17 futures companies listed on the Shanghai Stock Exchange, the Shenzhen Stock Exchange, the Hong Kong Stock Exchange or the National Stock Exchange Center.In addition to Xinhu Futures, there are two futures companies in the process of IPO. Among them, Hong Kong stock futures companiesHongye FuturesThe issuance of A-shares has been approved, and Shanghai Mid-Term Futures is in the stage of listing counseling.
Xinhu Futures pre-disclosed the IPO prospectus and plans to list on the main board of the Shanghai Stock Exchange
On July 5, the website of the China Securities Regulatory Commission showed that Xinhu Futures Co., Ltd. pre-disclosed its IPO prospectus today, and plans to list on the main board of the Shanghai Stock Exchange with no more than 120 million shares to be issued.
Shell Finance reporter learned that Xinhu Futures, formerly known as Zhejiang Tiandi Futures Brokerage Co., Ltd. (hereinafter referred to as “Tiandi Futures”), was established on October 23, 1995 with a registered capital of 360 million yuan. In July 2000, the sixth equity transfer and the first capital increase of Tiandi Futures, Xinhu Group became its second largest shareholder, holding 35% of the shares.
Subsequently, the Xinhu Department continued to increase its stake in Xinhu Futures. The prospectus shows that the actual controller of Xinhu Futures is Huang Wei, who controls 54.00% of Xinhu Futures shares through Xinghe Investment, and through Zhongfu Industry, Xinhu Group,Xinhu ZhongbaoIt controls 22.00%, 8.00% and 7.67% of Xinhu Futures shares respectively, and controls 91.67% of the voting rights in total.
According to public information, Xinhu Zhongbao stated in its 2017 annual report that it would transfer 62% of its shares in Xinhu Futures to Xinhu Group. After the transfer, Xinhu Zhongbao would hold 29.67% of Xinhu Futures, which is beneficial Promote the listing process of Xinhu Futures.
In May 2020, Xinhu Futures submitted a listing guidance filing, which officially sounded the clarion call for an IPO. After a lapse of two years, on June 23, 2022, the information on the website of the China Securities Regulatory Commission showed that the “Approval of the Company’s Initial Public Offering of Shares (A Shares on the Main Board of the Shanghai Stock Exchange and the Main Board of the Shenzhen Stock Exchange, and B Shares)” for Xinhu Futures was completed in June. Accepted by the Securities Regulatory Commission on the 23rd.
Xinhu Futures stated in the prospectus that in order to effectively increase the company’s net capital scale and promote the development and development of the company’s various businesses, the company’s raised funds will be used to replenish the company’s capital and expand related innovations after deducting the issuance costs. business, improve the company’s business structure, further improve the income structure, diversify risks, and improve the company’s market competitiveness.
Xinhu Department may add another listed company, what is the quality of Xinhu futures?
According to the official website of Xinhu Zhongbao, Xinhu is currently laying out a number of financial institutions through holding and equity participation.
Previously, the Shell Finance reporter learned that the most important platform for the “Xinhu system” to spread its branches and leaves is Xinhu Zhongbao. The company’s investigation shows that the real estate development, real estate and property development, property purchase and property held by Xinhu Zhongbao , mining, business and film and television and other non-financial subsidiaries, more than 30 sub-subsidiaries. In addition, it is also one of the financial control platforms, and participates in the holding of many financial enterprises.
Judging from the financial territory involved, Xinhu Zhongbao’s shareholding companies include Shengjing Bank,CITIC BankBank of Wenzhou, Sunshine Insurance, Singapore Asia Pacific Exchange and many other traditional financial institutions. In addition, “Xinhu Department” also holds shares in Xinhu Futures and Xiangcai Securities.
At the same time, in recent years, Xinhu has been making equity investments in fintech. Xinhu Zhongbao or Xinhu Group currently has major stakes in fintech and Internet financial service companies, including Qulian, 51 Credit Card, and Wind Information. company.
Xinhu Zhongbao’s 2021 annual report shows that it has 31 foreign long-term equity investment companies, including 4 joint ventures and 27 associates. Judging from the investment profits and losses recognized under the equity method, 31 companies will contribute a total investment income of 2.910 billion yuan in 2021. Among them, many real estate and real estate companies have negative investment profits and losses, while the financial sector has outstanding performance. Among them, China CITIC Bank’s 2021 investment income The investment income reached 2.631 billion yuan, and the investment income of Xinhu Futures reached 47.0541 million yuan.
According to the prospectus, from 2019 to 2021, Xinhu Futures achieved revenue of 5.848 billion yuan, 7.364 billion yuan and 7.760 billion yuan respectively, and realized net profit of 24.2923 million yuan, 77.0803 million yuan and 166 million yuan.
According to the classification and rating results of futures companies of the China Securities Regulatory Commission, from 2019 to 2021, their futures business revenue indicators will rank 45th, 44th and 44th in the industry, and their net profit indicators will rank 55th and 52nd in the industry respectively. and 33rd.
Some industry insiders pointed out that Xinhu Futures is only a small role in the Xinhu system, but the leader Ma Wensheng has a high media exposure rate.
An industry insider told Shell Finance reporters that fundamentally, banks are the ultimate source of funds, but bank funds must be invested in various forms. Securities and futures generally provide financing services and securities trading services, and generally cannot be directly transfused. “Securities, futures, etc. are institutions that create and trade various financial assets. They turn bank funds into financial products in various ways, thereby helping the development of financial holding companies.”
A-share listed futures companies are expected to expand, and many futures companies enter IPO
From the perspective of the futures market, since the establishment of the first futures exchange in 1990, after more than 30 years of exploration and development, my country’s futures market has moved from disorder to regulation. By the end of 2021, there were 150 futures companies in my country with total assets of 1,381.231 billion yuan. In 2021, my country’s futures industry will achieve an operating income of 49.464 billion yuan and an overall profit of 13.705 billion yuan.
Judging from the existing market competition, there are currently 17 futures companies listed on the Shanghai Stock Exchange, Shenzhen Stock Exchange, Hong Kong Stock Exchange or the National Equities Exchange and Quotations, including 17 futures companies.Ritar Futures、South China FuturesandYongan Futures3 companies are listed on the A-share market, 2 companies are listed on the Hong Kong Stock Exchange, Hongye Futures and Luzheng Futures, and 12 companies including Haitong Futures and Bohai Futures are listed on the New Third Board.
Xinhu Futures pre-disclosed the IPO prospectus, and the A-share listed futures company is expected to expand. In addition to Xinhu Futures, two other futures companies are also in the process of IPO. Among them, Hongye Futures, a Hong Kong stock futures company, has been approved for A-share issuance, and Shanghai Mid-term Futures is currently in the stage of listing counseling.
Beijing News Shell Finance reporter Hu Meng, editor Yue Caizhou proofreading Lu Xi
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