又一老牌期货公司，拟摘牌！

Core Viewpoint - Bohai Futures, a subsidiary of Northeast Securities, plans to voluntarily apply for termination of its listing on the New Third Board, reflecting the ongoing challenges faced by small and medium-sized futures companies in the industry [1][6][10]. Company Summary - Bohai Futures was established on January 12, 1996, with a registered capital of RMB 500 million, where Northeast Securities holds a 96% stake and Jilin Rongshang Investment Co., Ltd. holds 4% [6]. - The company is experiencing significant financial pressure, with projected revenue for 2024 at approximately RMB 2.32 billion, a year-on-year decrease of 17.79%, and a net loss attributable to shareholders of RMB -29.38 million [6][8]. - As of December 31, 2024, Bohai Futures reported total assets of approximately RMB 6.58 billion and total liabilities of approximately RMB 5.80 billion, resulting in net assets of approximately RMB 764.79 million [8]. Industry Summary - The New Third Board currently has 11 futures companies, all with market capitalizations below RMB 10 billion, and many are facing low trading volumes [1][11]. - The industry is witnessing a "Matthew Effect," where leading firms are expanding rapidly, while smaller firms are struggling due to declining traditional brokerage revenues and limited innovative business segments [10][11]. - In April 2023, two other futures companies, Jinyuan Futures and Funeng Futures, also delisted from the New Third Board, indicating a trend of smaller firms exiting the market to reduce costs and improve operational conditions [1][11].