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Sanmina’s Third Quarter Fiscal 2024 Financial Results

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SAN JOSE, Calif., July 29, 2024 /PRNewswire/ — Sanmina Corporation (“Sanmina” or the “Company”) (NASDAQ: SANM), a leading integrated manufacturing solutions company, today reported financial results for the fiscal third quarter ended June 29, 2024 and outlook for its fiscal fourth quarter ending September 28, 2024.

Third Quarter Fiscal 2024 Financial Highlights

Revenue: $1.84 billionGAAP operating margin: 4.5%GAAP diluted EPS: $0.91Non-GAAP(1) operating margin: 5.3%Non-GAAP(1) diluted EPS: $1.25Cash flow from operations: $90 millionEnding cash and cash equivalents: $658 million

(1) See Schedule 1 below for information regarding the items excluded from and our use of non-GAAP financial measures. A reconciliation of the non-GAAP financial information contained in this release to their most directly comparable GAAP measures is included in the financial statements furnished with this release.

“We delivered third quarter results in line with our outlook. We are starting to see stabilization and demand improve going into our fourth quarter, and we expect to see growth in fiscal 2025,” stated Jure Sola, Chairman and Chief Executive Officer. “We continue to execute our strategy, which is to deliver profitable growth and free cash flow generation while maintaining our strong balance sheet and returning value to shareholders.”

Fourth Quarter Fiscal 2024 Outlook
The following outlook is for the fiscal fourth quarter ending September 28, 2024. These statements are forward-looking and actual results may differ materially. 

Revenue between $1.9 billion to $2.0 billionGAAP diluted earnings per share between $1.02 to $1.12Non-GAAP diluted earnings per share between $1.30 to $1.40

Safe Harbor Statement
The statements above including our financial outlook for the fourth quarter fiscal 2024 and expectations for growth in fiscal 2025 generally, constitute forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those projected in these statements as a result of a number of factors, including adverse changes to the key markets we target; significant uncertainties that can cause our future sales and net income to be variable; reliance on a small number of customers for a substantial portion of our sales; risks arising from our international operations; geopolitical uncertainty, including from the war in Ukraine and conflict in the Middle East; and the other risk factors set forth in the Company’s annual and quarterly reports filed with the Securities Exchange Commission.

The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter any of the forward-looking statements made in this earnings release, the conference call or the Investor Relations section of our website whether as a result of new information, future events or otherwise, unless otherwise required by law.

Company Conference Call Information
Sanmina will hold a conference call to review its financial results for the third quarter and outlook for the fourth quarter of fiscal 2024 on Monday, July 29, 2024 at 5:00 p.m. ET (2:00 p.m. PT). The access numbers are: domestic 800-836-8184 and international 646-357-8785. The conference will also be webcast live over the Internet. You can log on to the live webcast at Q3’24 Earnings. Additional information in the form of a slide presentation is available on Sanmina’s website at www.sanmina.com. A replay of the conference call will be available for 48-hours. The access numbers are: domestic 888-660-6345 and international 646-517-4150, access code is 27876#.

About Sanmina
Sanmina Corporation, a Fortune 500 company, is a leading integrated manufacturing solutions provider serving the fastest growing segments of the global Electronics Manufacturing Services (EMS) market. Recognized as a technology leader, Sanmina provides end-to-end manufacturing solutions, delivering superior quality and support to Original Equipment Manufacturers (OEMs) primarily in the industrial, medical, defense and aerospace, automotive, communications networks and cloud infrastructure markets. Sanmina has facilities strategically located in key regions throughout the world. More information about the Company is available at www.sanmina.com.

Sanmina Contact
Paige Melching
SVP, Investor Communications
408-964-3610

 

Sanmina Corporation

Condensed Consolidated Balance Sheets

(in thousands)

(GAAP)

(Unaudited)

June 29,
2024

September 30,
2023

ASSETS

Current assets:

Cash and cash equivalents

$          657,709

$          667,570

Accounts receivable, net

1,154,834

1,230,771

Contract assets

414,805

445,757

Inventories

1,384,332

1,477,223

Prepaid expenses and other current assets

81,655

58,249

Total current assets

3,693,335

3,879,570

Property, plant and equipment, net

630,254

632,836

Deferred tax assets

162,782

177,597

Other

177,160

183,965

Total assets

$       4,663,531

$       4,873,968

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Accounts payable

$       1,433,803

$       1,612,833

Accrued liabilities

243,429

267,148

Accrued payroll and related benefits

126,824

127,406

Short-term debt, including current portion of long-term debt

17,500

25,945

Total current liabilities

1,821,556

2,033,332

Long-term liabilities:

Long-term debt

299,665

312,327

Other

200,972

209,684

Total long-term liabilities

500,637

522,011

Stockholders’ equity

2,341,338

2,318,625

Total liabilities and stockholders’ equity

$       4,663,531

$       4,873,968

 

Sanmina Corporation

Condensed Consolidated Statements of Income

(in thousands, except per share amounts)

(GAAP)

(Unaudited)

Three Months Ended

Nine Months Ended

June 29,
2024

July 1,
2023

June 29,
2024

July 1,
2023

Net sales

$     1,841,430

$     2,207,118

$     5,550,823

$     6,883,029

Cost of sales

1,687,891

2,023,910

5,081,687

6,313,246

Gross profit

153,539

183,208

469,136

569,783

Operating expenses:

Selling, general and administrative

61,720

68,828

195,704

192,948

Research and development

7,659

6,719

20,271

18,712

Restructuring

1,793

296

7,257

1,731

Total operating expenses

71,172

75,843

223,232

213,391

Operating income

82,367

107,365

245,904

356,392

Interest income

2,572

4,213

9,641

9,685

Interest expense

(7,506)

(10,066)

(24,136)

(28,033)

Other expense

(2,795)

(2,508)

(652)

(11,988)

Interest and other, net

(7,729)

(8,361)

(15,147)

(30,336)

Income before income taxes

74,638

99,004

230,757

326,056

Provision for income taxes

19,900

17,267

60,346

63,898

Net income before noncontrolling interest

54,738

81,737

170,411

262,158

     Less: Net income attributable to noncontrolling interest

3,136

5,243

9,256

14,029

Net income attributable to common shareholders

$          51,602

$          76,494

$        161,155

$        248,129

Net income attributable to common shareholders per share:

Basic

$               0.93

$               1.32

$               2.88

$               4.28

Diluted

$               0.91

$               1.28

$               2.82

$               4.14

Weighted-average shares used in computing per share amounts:

Basic

55,466

57,987

55,862

57,995

Diluted

56,711

59,592

57,216

59,996

 

Sanmina Corporation

Reconciliation of GAAP to Non-GAAP Measures

(in thousands, except per share amounts)

(Unaudited)

Three Months Ended

June 29,
2024

March 30,
2024

July 1,
2023

GAAP Operating income

$           82,367

$           75,961

$        107,365

GAAP Operating margin

4.5 %

4.1 %

4.9 %

Adjustments:

Stock compensation expense (1)

14,682

14,651

13,317

Amortization of intangible assets

669

Distressed customer charges (recoveries) (2)

(2,500)

4,299

Legal and other (3)

500

1,350

4,475

Restructuring

1,793

3,274

296

Non-GAAP Operating income

$           96,842

$           99,535

$        126,122

Non-GAAP Operating margin

5.3 %

5.4 %

5.7 %

GAAP Net income attributable to common shareholders

$           51,602

$           52,485

$          76,494

Adjustments:

Operating income adjustments (see above)

14,475

23,574

18,757

Legal and other (3)

(4,967)

Adjustments for taxes (4)

4,751

2,849

(3,093)

Non-GAAP Net income attributable to common shareholders

$           70,828

$           73,941

$          92,158

GAAP Net income attributable to common shareholders per share:

Basic

$               0.93

$               0.94

$               1.32

Diluted

$               0.91

$               0.93

$               1.28

Non-GAAP Net income attributable to common shareholders per share:

Basic

$               1.28

$               1.33

$               1.59

Diluted

$               1.25

$               1.30

$               1.55

Weighted-average shares used in computing per share amounts:

Basic

55,466

55,585

57,987

Diluted

56,711

56,699

59,592

(1)

Stock compensation expense

Cost of sales

$             4,327

$             4,416

$            4,518

Selling, general and administrative

10,082

9,984

8,588

Research and development

273

251

211

Total

$           14,682

$           14,651

$          13,317

(2)

Relates to accounts receivable and inventory write-downs (recoveries) associated with distressed customers.

(3)

Represents expenses, charges and recoveries associated with certain legal and other matters.

(4)

GAAP provision for income taxes

$           19,900

$           19,122

$          17,267

Adjustments:

Tax impact of operating income adjustments

1,303

2,611

1,817

Discrete tax items

1,462

385

6,957

Deferred tax adjustments

(7,516)

(5,845)

(5,681)

Subtotal – adjustments for taxes

(4,751)

(2,849)

3,093

Non-GAAP provision for income taxes

$           15,149

$           16,273

$          20,360

 

 

Q4 FY24 Earnings Per Share Outlook*:

Q4 FY24 EPS Range

Low

High

GAAP diluted earnings per share

$                  1.02

$                  1.12

Stock compensation expense

$                  0.28

$                  0.28

Non-GAAP diluted earnings per share

$                  1.30

$                  1.40

* Due to uncertainty regarding the timing of recognition of restructuring charges, impairment charges and other unusual or infrequent items, if any, that could be incurred during the fourth quarter of FY24, an estimate of such items is not included in the outlook for Q4 FY24 GAAP EPS.

 

Sanmina Corporation

Condensed Consolidated Cash Flow

(in thousands)

(GAAP)

(Unaudited)

Three Month Periods

Q3’24

Q2’24

Q1’24

Q4’23

Q3’23

Net income before noncontrolling interest

$      54,738

$      55,309

$      60,364

$      65,355

$      81,737

Depreciation and amortization

29,764

30,274

30,726

30,521

29,898

Other, net

19,708

18,634

18,185

21,947

21,174

Net change in net working capital

(14,211)

(31,900)

16,750

(40,966)

(76,300)

Cash provided by operating activities

89,999

72,317

126,025

76,857

56,509

Purchases of long-term investments

(600)

(700)

(600)

(500)

(500)

Net purchases of property & equipment

(22,772)

(29,611)

(34,216)

(37,803)

(52,167)

Cash used in investing activities

(23,372)

(30,311)

(34,816)

(38,303)

(52,667)

Holdback paid in connection with previous business combination

(8,558)

Net share repurchases

(54,629)

(17,477)

(115,619)

(30,397)

(52,072)

Net borrowing activities

(4,375)

(4,375)

(12,820)

4,070

(4,375)

Cash used for financing activities

(59,004)

(21,852)

(128,439)

(26,327)

(65,005)

Effect of exchange rate changes

(772)

(886)

1,250

(1,245)

(452)

Net change in cash & cash equivalents

$        6,851

$      19,268

$    (35,980)

$      10,982

$    (61,615)

Free cash flow:

Cash provided by operating activities

$      89,999

$      72,317

$    126,025

$      76,857

$      56,509

Net purchases of property & equipment

(22,772)

(29,611)

(34,216)

(37,803)

(52,167)

$      67,227

$      42,706

$      91,809

$      39,054

$        4,342

 

Schedule 1

The statements above and financial information provided in this earnings release include non-GAAP measures of operating income, operating margin, net income and earnings per share. Management excludes from these measures stock-based compensation, restructuring, acquisition and integration expenses, impairment charges, amortization charges and other unusual or infrequent items, as adjusted for taxes, as more fully described below.

Management excludes these items principally because such charges or benefits are not directly related to the Company’s ongoing core business operations. We use such non-GAAP measures in order to (1) make more meaningful period-to-period comparisons of the Company’s operations, both internally and externally, (2) guide management in assessing the performance of the business, internally allocating resources and making decisions in furtherance of Company’s strategic plan, (3) provide investors with a better understanding of how management plans and measures the business and (4) provide investors with a better understanding of our ongoing, core business. The material limitations to management’s approach include the fact that the charges, benefits and expenses excluded are nonetheless charges, benefits and expenses required to be recognized under GAAP and, in some cases, consume cash which reduces the Company’s liquidity. Management compensates for these limitations primarily by reviewing GAAP results to obtain a complete picture of the Company’s performance and by including a reconciliation of non-GAAP results to GAAP results in its earnings releases.

Additional information regarding the economic substance of each exclusion, management’s use of the resultant non-GAAP measures, the material limitations of management’s approach and management’s methods for compensating for such limitations is provided below.

Stock-based Compensation Expense, which consists of non-cash charges for the estimated fair value of equity awards granted to employees and directors, is excluded in order to permit more meaningful period-to-period comparisons of the Company’s results since the Company grants different amounts and value of equity awards each quarter. In addition, given the fact that competitors grant different amounts and types of equity awards and may use different valuation assumptions, excluding stock-based compensation permits more accurate comparisons of the Company’s core results with those of its competitors.

Restructuring, Acquisition and Integration Expenses, which consist of employee severance, lease termination costs, exit costs, environmental investigation, remediation and related employee costs and other charges primarily related to closing and consolidating manufacturing facilities and those associated with the acquisition and integration of acquired businesses, are excluded because such charges (1) can be driven by the timing of acquisitions and exit activities which are difficult to predict, (2) are not directly related to ongoing business results and (3) generally do not reflect expected future operating expenses. In addition, given the fact that the Company’s competitors complete acquisitions and adopt restructuring plans at different times and in different amounts than the Company, excluding these charges or benefits permits more accurate comparisons of the Company’s core results with those of its competitors. Items excluded by the Company may be different from those excluded by the Company’s competitors and restructuring and integration expenses include both cash and non-cash expenses. Cash expenses reduce the Company’s liquidity. Therefore, management also reviews GAAP results including these amounts.

Impairment Charges for Goodwill and Other Assets, which consist of non-cash charges, are excluded because such charges are non-recurring and do not reduce the Company’s liquidity. In addition, given the fact that the Company’s competitors may record impairment charges at different times, excluding these charges permits more accurate comparisons of the Company’s core results with those of its competitors.

Amortization Charges, which consist of non-cash charges impacted by the timing and magnitude of acquisitions of businesses or assets, are also excluded because such charges do not reduce the Company’s liquidity. In addition, such charges can be driven by the timing of acquisitions, which is difficult to predict. Excluding these charges permits more accurate comparisons of the Company’s core results with those of its competitors because the Company’s competitors complete acquisitions at different times and for different amounts than the Company.

Other Unusual or Infrequent Items, such as charges or benefits associated with distressed customers, expenses, charges and recoveries relating to certain legal matters, and gains and losses on sales of assets, are excluded because such items are typically non-recurring, difficult to predict or not directly related to the Company’s ongoing or core operations and are therefore not considered by management in assessing the current operating performance of the Company and forecasting earnings trends. However, items excluded by the Company may be different from those excluded by the Company’s competitors. In addition, these items include both cash and non-cash expenses. Cash expenses reduce the Company’s liquidity. Management compensates for these limitations by reviewing GAAP results including these amounts.

Adjustments for Taxes, which consist of the tax effects of the various adjustments that we exclude from our non-GAAP measures, and adjustments related to deferred tax and discrete tax items. Including these adjustments permits more accurate comparisons of the Company’s core results with those of its competitors. We determine the tax adjustments based upon the various applicable effective tax rates. In those jurisdictions in which we do not expect to realize a tax cost or benefit (due to a history of operating losses or other factors), a reduced tax rate is applied.

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Hisense Celebrates Earth Day: The Quiet Green Shift Happening Inside Households Through Smarter Appliances

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DUBAI, UAE, April 22, 2026 /PRNewswire/ — There’s something futuristic about a refrigerator that thinks for itself. Not in a science-fiction, take-over-the-world kind of way, but in the everyday miracle of a 620-litre side-by-side unit deciding, on its own, that 3am is the perfect time to run its compressor at minimal power because nobody’s opening the door anyway.

This is the green revolution that nobody talks about at climate summits. While world leaders debate carbon credits and industrial emissions, a quieter transformation is unfolding in kitchens, utility rooms, and living spaces across the UAE and beyond. It happens every time a washing machine calculates the precise amount of water needed for that half-load of towels, or when an air conditioner’s inverter technology throttles down instead of cycling on and off like an energy-guzzling metronome.

Earth Day, falling on 22 April this year, typically conjures images of tree-planting ceremonies and beach clean-ups. Worthy endeavours, certainly. But the environmental impact of what sits in your home, running twenty-four hours a day, seven days a week, fifty-two weeks a year, rarely gets the attention it deserves.

On average, washing machines use 19 gallons of water per load, and the average household runs between 5 and 6 loads per week. Based on those figures, most washers use up to 5,605 gallons of water annually . Swap that for a modern front-load unit with AI wash programs, like Hisense’s models, and that figure can drop by up to 50 percent. Multiply this across the roughly 500,000 households in Dubai alone, and we’re suddenly talking about water savings that would make a desalination plant executive weep with joy.

The same logic applies to electricity consumption, a particularly pressing concern in a region where summer temperatures regularly exceed 45°C and air conditioning is a necessity. The difference between a conventional split AC unit and one equipped with inverter technology isn’t marginal, it’s substantial enough to show up on utility bills within the first month of operation.

Intelligence as an Environmental Strategy

What makes the current generation of home appliances genuinely different isn’t just improved efficiency ratings or eco-labelling. It’s the integration of AI into the very fabric of how these machines operate.

Hisense, a brand that has positioned itself at this intersection of technology and sustainability, describes its approach as a “dual-track strategy of intelligence plus green development.” Its ConnectLife ecosystem, available on select refrigerators, washing machines, dishwashers, and air conditioners, monitors energy consumption in real-time, learns household patterns, and makes AI-driven recommendations that, over time, compound into meaningful resource savings.

A Hisense 14-place setting dishwasher with auto-wash technology, for instance, doesn’t simply run the same cycle regardless of load. It assesses soil levels and adjusts water temperature and duration accordingly. A half-load mode means running appliances at appropriate capacity rather than wasting resources on unnecessary full cycles.

Multi-airflow cooling systems that reduce temperature fluctuation and preserve food longer. No-frost technology that eliminates the energy waste of ice buildup. Inverter compressors that modulate power consumption rather than running at full throttle constantly. These technologies have existed in various forms for years. What’s changed is their integration into accessible price points and mainstream product lines, making efficient living achievable for households beyond the ultra-premium market.

The Gulf region presents a fascinating case study for domestic sustainability. Per capita energy consumption ranks among the highest globally, driven by climate control requirements, water desalination dependencies, and historically subsidised utility costs. Yet the UAE has simultaneously positioned itself as a regional leader in renewable energy investment and sustainability commitments.

This creates a unique environment where smart appliance adoption carries amplified significance. A 1.5-ton inverter split AC running across a typical Abu Dhabi summer doesn’t just save its owner money, it reduces the load on an electrical grid increasingly powered by solar and nuclear generation. The connection between individual choices and collective outcomes becomes tangible in ways that might seem abstract in milder climates.

The rise of connected appliances adds another dimension. Remote diagnostics can extend product lifespans by identifying minor issues before they become terminal failures. Software updates can improve efficiency algorithms years after purchase. Energy monitoring creates accountability loops that encourage conscious consumption patterns.

Steam wash functions on modern washing machines reduce the need for hot-water cycles while improving allergen removal. Anti-bacterial filters in air conditioning units address both health and environmental concerns simultaneously. These convergences suggest that the old tension between convenience and conscience may be resolving itself through engineering rather than requiring consumers to choose sides.

The Household as Climate Actor

There’s something democratic about domestic sustainability. Industrial emissions reductions require policy negotiations, capital investments, and coordination across complex stakeholder ecosystems. Choosing a more efficient refrigerator requires a trip to the appliance store and perhaps a slightly higher upfront cost that will recoup itself over the product’s operational lifetime.

This isn’t to diminish the necessity of systemic change, individual action cannot substitute for structural transformation. But the two approaches complement rather than compete. Households equipped with intelligent appliances consume fewer resources, place less strain on infrastructure, and model consumption patterns that cascade through communities.

The quiet green shift happening inside households won’t make headlines the way renewable energy megaprojects or electric vehicle adoption rates do. But every time that dishwasher calculates optimal water usage, every time that inverter compressor modulates instead of cycles, every time that smart refrigerator adjusts its cooling schedule based on door-opening patterns, something meaningful happens. Millions of these moments, aggregated across millions of households, compound into impact that rivals any single infrastructure project.

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Dreame Nebula NEXT Auto expands academic collaboration to accelerate AI-driven automotive innovation

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UC Berkeley engagement underscores long-term investment in autonomous systems, engineering depth and intelligent vehicle development

BERKELEY, Calif., April 22, 2026 /PRNewswire/ — Dreame Nebula NEXT Auto has deepened its engagement with leading academic institutions, including the University of California, Berkeley, as it accelerates development of AI-defined vehicles and next-generation autonomous systems. The collaboration signals a long-term commitment to advancing core technologies that will shape the future of intelligent automotive motion.

The engagement brought Nebula NEXT engineers and leadership together with Berkeley researchers specialising in autonomous control systems, AI and intelligent transportation. The sessions focused on translating advanced research into real-world vehicle systems, with particular emphasis on safety, control and full-stack AI integration.

Jake Ma, Executive of Dreame Nebula NEXT Auto, said: “We aren’t building a car. We are building a new brain for the physical world. To us, the car is the only physical mothership capable of carrying the extreme compute required by large AI models today.”

The visit forms part of a broader strategy to anchor Nebula NEXT’s development in deep technical collaboration. By working closely with academic experts, the company is strengthening its approach to autonomous driving, vehicle intelligence and system-level engineering.

Nebula NEXT builds on Dreame Technology’s foundation in precision engineering and AI-driven innovation. This heritage underpins a shift from software-defined vehicles to AI-defined vehicles, where intelligence is embedded across the entire system, from perception and decision-making to chassis and powertrain control.

The company’s technical direction centres on integrating AI into the core dynamics of how vehicles operate. This includes continuous learning systems, multi-agent architectures and high-performance computing platforms designed to support real-time decision-making in complex driving environments.

Nebula NEXT first drew global attention at CES 2026 with the debut of the Nebula NEXT 01, a four-door electric hyper-sedan concept. The vehicle delivers 1.8-second acceleration from 0 to 100 km/h, more than 2,000 horsepower and a lightweight structure built from proprietary Blue Carbon Fiber.

Momentum continued with a high-profile appearance during the Super Bowl LVIII broadcast, extending the brand’s reach across North America and reinforcing its position as an emerging force in automotive technology.

Alongside performance, the company continues to prioritise foundational innovation. Its architecture combines AI-native operating systems, zonal electrical design and high-density computing platforms to enable scalable, intelligent vehicle systems.

Nebula NEXT is now entering a phase focused on system execution, engineering depth and scalable technology development. The company will present further advances at an upcoming Silicon Valley event on 27 April 2026, where it will unveil new products and core technologies.

By combining global market momentum, academic collaboration and a focus on engineering fundamentals, Dreame Nebula NEXT is positioning itself at the centre of the transition to AI-defined mobility.

Media contact:
Li Tong, Dreame Nebula Next Auto PR head, litong2@dreame.tech
Website: https://www.dreametech.com

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Sucden Financial Enables Client Trading in Shanghai Nickel Futures

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LONDON, April 22, 2026 /PRNewswire/ — Sucden Financial, the multi-asset execution, clearing and liquidity provider, announces that clients can now trade nickel futures and options on the Shanghai Futures Exchange (SHFE), following today’s opening of the contract to international participants.

Sucden Financial offers access to SHFE through its Overseas Intermediary status and established Chinese banking relationships. Clients can manage exposure across SHFE, the London Metal Exchange (LME) and more than 20 other global commodities markets through a single account.

In addition to SHFE nickel contracts, Sucden Financial’s clients can access the following Chinese exchanges: the Shanghai International Energy Exchange, the Dalian Commodity Exchange and the Zhengzhou Commodity Exchange.

Lucy Wainman, Head of Sales (China) at Sucden Financial, said:

“We are pleased to offer clients the opportunity to trade Shanghai nickel futures and options contracts, further broadening our access to Chinese markets. This milestone reflects the hard work of our team and the long-standing relationships we have built in China. We would like to thank SHFE and Chinese regulators for their support and constructive engagement.”

Marc Bailey, CEO of Sucden Financial, said:

“Expanding our global exchange coverage to include access to onshore mainland Chinese markets supports our organic growth strategy. By adding access to SHFE, we provide clients with an extended global reach through a single account. Continued investment in technology underpins our long-term commitment to our clients, enabling them to respond quickly to changing market dynamics and capture emerging opportunities.”

About Sucden Financial

With a history and heritage in commodity futures and options trading, Sucden Financial has evolved and diversified to become a leading global multi-asset execution, clearing and liquidity provider across FX, fixed income, and commodities.

Sucden Financial has a proven track record of over 50 years in financial markets. Since its foundation in 1973, it has been supported by its parent, Sucden, one of the world’s leading soft commodity trading groups, while remaining fully independent in its day-to-day trading operations.

Sucden Financial Limited is authorised and regulated by the Financial Conduct Authority.

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