Core Viewpoint - The company Beijing Guiding Compass Technology Development Co., Ltd. has announced the termination of its private placement plan, which aimed to raise up to 2.905 billion yuan for its wholly-owned subsidiary, Maikao Securities, after three years of progress since 2022 [1][4][5]. Group 1: Termination of Private Placement - On October 31, the company announced the decision to withdraw its application for the private placement of shares, which had been under consideration since May 2022 [4][5]. - The private placement was intended to raise funds for Maikao Securities, which had previously experienced consecutive losses from 2018 to 2021, with net profits of -2.88 billion yuan, -1.292 billion yuan, -59.798 million yuan, and -508 million yuan respectively [4][6]. - The company stated that the termination of the private placement would not significantly adversely affect its current operations or harm the interests of shareholders, particularly minority shareholders [6]. Group 2: Performance of Maikao Securities - Maikao Securities, formerly known as Wangxin Securities, was acquired by the company in 2022 after undergoing bankruptcy restructuring [7]. - Recent performance indicators show that Maikao Securities has achieved positive revenue and profit figures in 2023 and 2024, with a net profit of 70.3624 million yuan in the first half of 2025, representing a 614.55% increase year-on-year [7]. - For the first three quarters, Maikao Securities reported a net commission income of 366 million yuan, a 171.07% increase year-on-year, and net interest income of 70.8372 million yuan, a 54.46% increase year-on-year [7]. Group 3: Industry Context - The cancellation of the private placement may have limited impact on financially strong companies, while those with tighter capital chains could face challenges in their long-term development plans [8]. - Despite the termination of the private placement by the company, several other securities firms are actively pursuing their own private placement plans, indicating ongoing market confidence [8].

Core Viewpoint - The company, Guiding Compass, has shown significant growth in revenue and net profit, driven by a recovery in the capital market and the rapid development of its subsidiary, Maikao Securities [6][7]. Group 1: Company Overview - Guiding Compass was established on April 28, 2001, and listed on the Shenzhen Stock Exchange on November 18, 2019. It is a leading financial information service provider in China, known for its professional financial data and analytical capabilities [1]. - The company operates in the computer software development sector, specifically in vertical application software, and is involved in various concept sectors including domestic software and financial technology [1]. Group 2: Financial Performance - For Q3 2025, Guiding Compass reported a revenue of 9.63 billion yuan, ranking 27th out of 102 in its industry, with the industry leader, Shanghai Steel Union, generating 573.18 billion yuan [2]. - The net profit for the same period was 1.14 billion yuan, placing the company 15th in its industry, with the top performer, Desai Xiyi, achieving 18.05 billion yuan [2]. - The company’s total revenue for the first nine months of 2025 reached 14.02 billion yuan, reflecting a year-on-year increase of 80.54%, while the net profit rose by 205% to 1.16 billion yuan [7][8]. Group 3: Profitability and Debt - As of Q3 2025, Guiding Compass had an asset-liability ratio of 81.08%, which is higher than the industry average of 31.94% [3]. - The gross profit margin for the same period was 87.08%, exceeding the industry average of 41.71% [3]. Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 55.31% to 144,700, while the average number of circulating A-shares held per shareholder decreased by 35.61% to 4,136.5 shares [5]. Group 5: Future Outlook - The company is expected to continue its growth trajectory, with projected revenues of 19.0 billion yuan, 24.7 billion yuan, and 29.1 billion yuan for 2025, 2026, and 2027, respectively, indicating year-on-year growth rates of 24%, 30%, and 18% [6]. - The earnings per share (EPS) are forecasted to be 0.42 yuan, 0.62 yuan, and 0.77 yuan for the same years [6].

指南针（300803）(300803.SZ)发布公告，自启动本次向特定对象发行股票事项以来，公司董事会、管 理层及相关中介机构持续积极推进各项准备工作。现经综合考虑公司内外部客观环境、自身发展战略目 标等多种因素，并经相关各方充分沟通和审慎分析论证后，公司决定终止本次向特定对象发行股票事项 并撤回相关申请文件。 ...

Core Viewpoint - The company has decided to terminate its plan for a private placement of shares and withdraw the related application documents after careful consideration of various factors, including internal and external environments and strategic goals [1] Group 1 - The company has been actively advancing preparations for the private placement since its initiation [1] - The decision to terminate the private placement was made after thorough communication and analysis with relevant parties [1] - The company considered multiple factors, including its own development strategy and external conditions, before making the decision [1]

Core Viewpoint - The company has decided to terminate its plan for a private placement of shares after careful consideration of various factors, including internal and external environments and strategic goals [1] Group 1: Company Actions - The company’s board, management, and relevant intermediaries have been actively working on preparations for the private placement since its initiation [1] - After thorough communication and analysis, the company has chosen to withdraw its application for the private placement [1] Group 2: Future Outlook - The company will continue to monitor domestic and international capital market trends closely [1] - It aims to utilize various capital market tools appropriately to support its long-term healthy business development based on future needs [1]

Group 1 - The company announced the termination of the specific stock issuance plan for the year 2022 and the withdrawal of the application documents during the 11th meeting of the 14th Board of Directors on October 31, 2025 [1] - For the year 2024, the company's revenue composition is as follows: Internet financial services account for 79.22%, securities industry for 20.76%, and other businesses for 0.02% [1] - The current market capitalization of the company is 87.8 billion yuan [1]

证券代码：300803 证券简称：指南针 公告编号：2025-099 北京指南针科技发展股份有限公司 第十四届董事会第十一次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 一、董事会会议召开情况 1. 北京指南针科技发展股份有限公司（以下简称"公司"）于 2025 年 10 月 31 日以邮件方式发出第十四届董事会第十一次会议通知。 全体董事一致同意豁免本次董事会会议提前 3 日通知的程序，一致同意于 2025 年 10 月 31 日召开本次董事会。 表决结果：同意 9 票，反对 0 票，弃权 0 票。 2. 审议通过《关于终止 2022 年度向特定对象发行股票事项并撤回申请文件 的议案》。 公司董事会同意终止 2022 年度向特定对象发行股票事项并撤回申请文件， 具体内容详见公司于同日在巨潮资讯网（http://www.cninfo.com.cn）披露的《关 于终止 2022 年度向特定对象发行股票事项并撤回申请文件的公告》（公告编号： 2025-100）。 本议案已经独立董事专门会议审议通过。 2. 本次董事会于 2025 年 10 月 31 ...

北京指南针科技发展股份有限公司 关于终止 2022 年度向特定对象发行股票事项并撤回申请文 证券代码：300803 证券简称：指南针 公告编号：2025-100 件的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 北京指南针科技发展股份有限公司（以下简称"公司"）于 2025 年 10 月 31 日召开第十四届董事会第十一次会议，审议通过《关于终止 2022 年度向特定 对象发行股票事项并撤回申请文件的议案》，同意公司终止本次向特定对象发行 股票事项并撤回申请文件，具体情况如下： 一、本次向特定对象发行股票事项的基本情况 2022 年 5 月 16 日，公司召开第十三届董事会第二次会议和第十四届监事会 第二次会议，审议通过了《关于公司 2022 年度向特定对象发行 A 股股票方案的 议案》等相关议案。2022 年 6 月 2 日，公司召开 2022 年第三次临时股东大会， 审议通过了本次向特定对象发行股票方案，并授权董事会及董事会授权人士全权 办理本次向特定对象发行股票相关事项。 2022 年 8 月 16 日，公司收到深圳证券交易所（以下简称"深交所" ...

Group 1 - The 2025 High-Quality Development Forum for Listed Companies and the 27th Golden Bull Award Ceremony took place in Nantong, Jiangsu, with the theme "Moving Towards New Horizons, Achieving Practical Goals, and Enlightening the Future" [1] - The Golden Bull Award, established in 1999 by China Securities Journal, aims to create a credible and authoritative platform for listed companies in the capital market, recognizing those with excellent governance, performance growth, and shareholder returns [3] - The awards include nine categories, such as "Most Investment Value Award" and "Golden Bull Secretary Award," with the latter focusing on the performance of company secretaries in information disclosure, communication, and professionalism [3]

Group 1: ETF Performance and Market Trends - The software ETF experienced a turnover of 7.16% during trading, with a transaction volume of 410 million yuan [3] - Over the past month, the software ETF's scale increased by 615 million yuan, indicating significant growth [3] - In the last 16 trading days, the software ETF attracted a total of 831 million yuan in inflows [3] - As of October 30, the software ETF's net value has risen by 12.61% over the past three years [3] - The highest monthly return since inception was 39.35%, with the longest consecutive monthly gains being three months and a maximum increase of 69.40% [3] - The average return during the months of increase was 10.06% [3] Group 2: Software Industry Performance - According to the Ministry of Industry and Information Technology, the software and information technology service industry in China showed a positive performance in the first three quarters of 2025, with software business revenue reaching 1111.26 billion yuan, a year-on-year increase of 13.0% [3] - The total profit of the software industry was 143.52 billion yuan, reflecting a year-on-year growth of 8.7% [3] - Software business exports amounted to 45.94 billion USD, marking a year-on-year increase of 6.6% [3] - Software product revenue maintained stable growth, reaching 238.54 billion yuan in the first three quarters, a year-on-year increase of 10.9%, accounting for 21.5% of the total industry revenue [3] - Basic software product revenue was 13.83 billion yuan, up 11.2% year-on-year, while industrial software product revenue was 23.59 billion yuan, reflecting a 9.8% increase [3] Group 3: Future Outlook and Investment Opportunities - Longjiang Securities noted that in the context of intensified Sino-U.S. technology competition, achieving complete autonomy in key areas is essential for China's technological development [4] - The domestic software systems have gradually developed innovative capabilities, transitioning from "usable" to "user-friendly" [4] - As key policy assessment years (such as 2025 and 2027) approach, the domestic chip and operating system industries related to the Xinchuang industry are expected to benefit [4] - As of September 30, 2025, the top ten weighted stocks in the CSI Software Service Index included companies like iFLYTEK, Tonghuashun, and Kingsoft Office, collectively accounting for 62.41% of the index [4] - Investors can also consider the software ETF linked fund (012620) to capitalize on AI software investment opportunities [4]