56 futures companies collectively achieved a net profit of approximately 9.3 billion yuan last year

A-share listed companies have completed their 2025 annual report disclosures. Wind Information data shows that, based on the disclosure scope of listed companies’ annual reports, 4 listed futures companies and 52 futures companies in which listed companies hold shares, control, or are included in related financial disclosures, achieved a total net profit of about 9.3 billion yuan in 2025, an increase of 13.8% compared to 8.17B yuan in 2024.

The futures market in 2025 experienced significant growth. On one hand, the overall industry capital scale expanded; on the other hand, a differentiated competitive landscape among futures companies further took shape. From the information disclosed in multiple listed companies’ annual reports, some companies’ asset management businesses and overseas financial services have become important supports for their profit growth.

Among these 56 companies, 19 companies had a net profit exceeding 100 million yuan in 2025, and the top ten companies all achieved year-over-year profit growth. As an industry leader, CITIC Futures maintained the top position with a net profit of 1.07B yuan, a 7.63% increase year-over-year; Guotai Junan Futures, Yong’an Futures, and CITIC Construction Investment Futures had net profits of 936 million yuan, 652 million yuan, and 651 million yuan respectively, with year-over-year growth of 14.57%, 13.4%, and 44.35%; Galaxy Futures, Shanghai Dongzheng Futures, Ruidai Futures, Nanhua Futures, GF Futures, and China Merchants Futures all had net profits between 300 million and 600 million yuan last year, with varying degrees of year-over-year growth.

Additionally, 24 futures companies maintained net profits between 10 million and 100 million yuan last year, with 15 of them achieving year-over-year growth. For example, Chuangyuan Futures, Zhongtai Futures, Xingzheng Futures, Wukuang Futures, and Dongwu Futures achieved net profits of 95.22 million yuan, 85.54 million yuan, 73 million yuan, 68.6 million yuan, and 66.81 million yuan, respectively, with growth rates of 48.8%, 1788.3%, 399.66%, 19.7%, and 25.25%. Conversely, some futures companies experienced year-over-year declines or even losses in net profit in 2025. Overall, the performance of the 56 futures companies last year showed significant differentiation.

Data from the China Futures Market Monitoring Center indicates that by the end of 2025, the total capital in the futures market was approximately 21.5 trillion yuan, and the total client equity of futures companies reached 20 trillion yuan. Meanwhile, futures companies are entering a stage of differentiated development.

CITIC Securities’ 2025 annual report states that last year, its wholly-owned subsidiary CITIC Futures focused on green futures varieties to alleviate operational pressures on new energy industry chain enterprises, continuously explored new product tools, and deepened green finance development. By the end of last year, CITIC Futures maintained industry-leading trading volume and open interest in lithium carbonate, polysilicon, and industrial silicon futures.

Ruidai Futures’ 2025 annual report shows that the company highly values the development of asset management businesses, actively taking measures, increasing innovation investment, continuously enriching product types, enhancing research and asset management capabilities, and striving to transform into a service provider for institutional clients while expanding its customer base. During the reporting period, the company’s asset management products performed well, with asset management business revenue reaching 206 million yuan, an increase of 81.34%.