Chuang Yuan Futures Tries To Raise Funds Through New Three Board Schemes

In the past 25 years in the development of China's capital market, there is not a real listing Futures Company. Although domestic capital markets have begun to discuss issues related to Futures Company listing since 2007, they have not been able to do so for various reasons.

National stock transfer system announced on March 30th evening, Chuang yuan futures Listing application Shares have been approved by the company and will be listed in the near future. This will be the first one. New three boards Listed Futures Company.

In fact, the strength of Chuang yuan futures is in the middle reaches of the futures industry. The interim data show that in 2011, 2012 and 2013, Chuang yuan futures realized net profit of 11 million 445 thousand yuan, 3 million 910 thousand and 300 yuan and 4 million 560 thousand and 600 yuan respectively, ranking fifty-seventh, ninety-sixth and ninety-third respectively.

Chuang yuan futures's predecessor was Tong Bao futures brokerage Co., Ltd. (established in February 1999), Tong Bao futures brokerage Co., Ltd., Chuang yuan futures brokerage Co., Ltd., Chuang yuan Futures Co., Ltd., in December 2014, Chuang yuan futures set up Limited by Share Ltd through the whole change mode. Chuang yuan futures has gone through 2 equity transfers, 4 capital increase and 1 capital reduction. The registered capital increased from 10 million yuan to 120 million yuan. Chuang yuan futures It has 11 business departments, which mainly include commodity futures brokerage, financial futures brokerage and futures investment consulting. In March 2015, they obtained the qualification of asset management business.

From Chuang yuan futures shareholders composition, Chuang yuan investment, Chuang yuan real estate, Zhongli technology, jiaxang Tian trade, Chuang yuan technology, Suzhou agricultural group and Suzhou commodity and trade center respectively hold 51%, 14.16%, 11%, 10%, 7.79%, 4.8% and 1.25% respectively. Among them, Chuang yuan futures's controlling shareholder directly owns 51% stake in Chuang yuan investment and indirectly holds 14.16% stake in Chuang yuan real estate through its wholly owned subsidiary. The Suzhou SASAC, through Chuang yuan investment, Suzhou agricultural development group and Suzhou Trade Center, holds a total of 71.21% yuan.

Chuang yuan futures "public transfer instructions on the listing system of the SME share transfer system" shows that the traditional futures brokerage business is the main business of Futures Company in China. The commission fee income of the agent futures business is higher than that of Futures Company, and the source of Futures Company income is highly dependent on the brokerage business. In 2012, 2013 and 2014 1-9, the proportion of company fee income in operating income was 68.14%, 75.93%, and 81.61%. The fees received or refunded accounted for a higher proportion of fee income and net profit, which were 262.77%, 2196.67% and 455.65% respectively. However, there are uncertainties in the relevant rebates or rebates issued by major futures exchanges.

In fact, the pace of Futures Company's embrace of the A share market is accelerating. According to the data of China Futures Association, from the net profit of Futures Company in recent three years, the financial indicators of more than 10 Futures Company, such as Yongan futures, Nanhua futures and China International Futures, have reached the conditions of listing on the main board. It is reported that in recent years, Yongan futures, Nanhua futures, Lu Zheng futures and Hongye futures have entered the IPO counseling period, and more Futures Company are planning the listing.

Insiders also said that Futures Company urgently needed to make bigger and stronger through listing and financing. However, the new three boards of Chuang yuan futures are not likely to cause a stir. Although the threshold of the new three boards is relatively low, its activity, market recognition and financing scale still depend on the texture of listed company. Especially after the closer registration system, most Futures Company are more willing to list on the Shanghai Stock Exchange or Shenzhen Stock Exchange.