Zhongtai Futures reported sharp top-line and bottom-line expansion for the six months ended 30 June 2026, fueled by solid growth in its core brokerage franchise and a rebound in risk-management operations.

Revenue and Profitability The futures broker generated revenue of RMB 438.88 million, up 41.74% year-on-year. Net profit attributable to shareholders climbed to RMB 97.22 million, a 198.36% increase from the prior-year period, while total profit rose 169.04% to RMB 130.83 million. Weighted average ROE improved to 3.62%, a gain of 2.35 percentage points.

Segment Performance • Brokerage: Revenue reached RMB 324.10 million; segment profit came in at RMB 56.70 million. • Risk Management: Revenue jumped to RMB 86.06 million with profit of RMB 49.26 million, supported by RMB 53.52 billion in new OTC-derivative notional volume and market-making across 34 listed futures and options. • Asset Management: Revenue totaled RMB 33.91 million; the segment recorded a small loss of RMB 1.06 million.

Operational Highlights • Client equity in brokerage accounts expanded 9.78% versus end-2025 to RMB 46.40 billion. • Futures trading volume grew 12.75% to 230 million lots, with turnover up 39.49% to RMB 27.73 trillion. • Total assets increased 9.57% to RMB 49.53 billion; total liabilities rose 9.96% to RMB 46.80 billion, pushing the adjusted gearing ratio to 43.08% (up 10.53 percentage points). • Net operating cash outflow widened to RMB 6.93 billion from RMB 1.82 billion a year earlier, reflecting higher working-capital absorption. • Regulatory capital remained solid: net capital stood at RMB 1.76 billion, 135% of total risk capital reserves, well above the 100% minimum.

Balance Sheet and Capital Plan Equity attributable to shareholders edged up 3.39% to RMB 2.73 billion. The company is preparing a private placement of up to RMB 600 million in subordinated bonds; terms are yet to be finalised.

Governance and Dividend Zhongtai Futures reconstituted its Board in April, appointing Zhou Shunyuan as Chairman and Liu Yunzhi as General Manager. No interim dividend was proposed for the half-year.

Outlook Management targets a “high-quality development” strategy for H2 2026, emphasising capital replenishment, digital transformation, and risk-control enhancements while maintaining full compliance with Chinese futures regulation.