Investment Rating - The report maintains a "Recommended" rating for the company [2] Core Insights - The company achieved a total revenue of 2.146 billion yuan in 2025, representing a year-on-year growth of 40.39%, and a net profit attributable to shareholders of 228 million yuan, with a year-on-year increase of 118.74% [8] - The financial information service business showed steady growth, with revenue reaching 1.509 billion yuan, up 27.50% year-on-year, benefiting from a high market sentiment [8] - The report highlights the rapid development of the company's subsidiary, Maigao Securities, which generated revenue of 757 million yuan, a year-on-year increase of 56%, and a net profit of 165 million yuan, up 133% [8] - The company is expected to see continued revenue growth in the coming years, with projected revenues of 2.769 billion yuan in 2026, 3.277 billion yuan in 2027, and 3.736 billion yuan in 2028, with corresponding growth rates of 29.0%, 18.3%, and 14.0% respectively [8] Financial Forecasts - Revenue and profit forecasts for the company are as follows: - 2025: Revenue of 2.146 billion yuan, net profit of 228 million yuan - 2026: Revenue of 2.769 billion yuan, net profit of 326 million yuan - 2027: Revenue of 3.277 billion yuan, net profit of 373 million yuan - 2028: Revenue of 3.736 billion yuan, net profit of 429 million yuan [9] - The earnings per share (EPS) are projected to be 0.37 yuan in 2025, increasing to 0.53 yuan in 2026, 0.61 yuan in 2027, and 0.70 yuan in 2028 [9] Cost and Expense Analysis - The company has increased its advertising and online promotion expenses significantly, amounting to 653 million yuan in 2025, a year-on-year increase of 66.79% [8] - Sales, management, and R&D expenses for 2025 were 1.111 billion yuan, 650 million yuan, and 164 million yuan respectively, with year-on-year increases of 38.1%, 43.8%, and 1.2% [9]

中访网数据 北京指南针科技发展股份有限公司于近日发布2025年度财务决算报告。报告期内，公司实 现营业收入15.39亿元，同比增长27.08%；归属于母公司所有者的净利润达2.28亿元，同比大幅增长 118.74%，盈利能力显著提升。业绩增长主要得益于旗下麦高证券业务的快速发展及先锋基金的并表贡 献。具体来看，麦高证券的经纪业务表现突出，带动手续费及佣金净收入同比增长109.70%至5.05亿 元，同时其自营业务规模扩大，交易性金融资产较期初增长135.63%。报告期内，公司完成对先锋基金 的收购并将其纳入合并报表，产生商誉3.02亿元，并确认了约0.66亿元的投资收益。公司整体资产负债 率升至81.91%，主要系证券经纪业务相关的客户存款（代理买卖证券款）大幅增加所致，该指标符合 证券行业特点。经营活动现金流保持强劲净流入30.53亿元。公司表示，已对商誉进行减值测试，未发 现减值风险。 ...

Core Viewpoint - The company has approved a profit distribution plan for the fiscal year 2025, proposing a cash dividend of 0.8 yuan per 10 shares, totaling approximately 48.78 million yuan, which represents 21.40% of the net profit attributable to shareholders for that year [1] Group 1 - The company has a total share capital of 610 million shares [1] - The proposed cash dividend will be distributed to all shareholders, amounting to approximately 48.78 million yuan [1] - The profit distribution plan will be submitted for approval at the company's 2025 annual general meeting [1] Group 2 - The estimated net profit attributable to shareholders for the fiscal year 2025 is approximately 228 million yuan [1] - The company will not issue bonus shares or increase share capital from capital reserves for the fiscal year 2025 [1] - The company has approximately 1.242 billion yuan in undistributed profits as of the end of 2025 [1] Group 3 - The profit distribution plan considers both shareholder returns and the company's operational development needs [1] - The plan complies with relevant laws, regulations, and the company's articles of association [1] - Any changes in the total share capital before the implementation of the plan will lead to an adjustment in the total distribution amount while maintaining the distribution ratio [1]

中访网数据 北京指南针科技发展股份有限公司董事会审计委员会近日发布报告，总结了对2025年度审 计机构致同会计师事务所（特殊普通合伙）履行监督职责的情况。报告显示，公司已按规定程序于2025 年1月至2月期间，通过董事会审计委员会、董事会及股东大会审议，正式聘任致同所为2025年度审计机 构。在2025年度审计工作中，审计委员会对致同所的资质、独立性及诚信记录进行了核查，并全程跟进 审计计划与进展，就关键审计事项等进行了多轮沟通。致同所已按计划完成审计，出具了标准无保留意 见的审计报告及内部控制审计报告，认为公司财务报表在所有重大方面公允反映了财务状况及经营成 果，且保持了有效的财务报告内部控制。审计委员会总体评价认为，致同所在本次审计中保持了独立、 客观、公正的立场，执业规范，出具的审计报告清晰准确，切实履行了监督职责。 ...

在2025年度履职期间，张敏共亲自出席了4次董事会会议及3次独立董事专门会议，对所有审议议案均投 出赞成票，未提出异议。其履职重点关注事项包括：公司2025年第三季度报告的编制与披露，确保财务 数据真实准确；以及公司根据授权注销2023年及2025年股票期权激励计划中部分股票期权的相关事项， 确认其程序合法合规。张敏通过现场办公、与管理层及审计机构沟通等方式，深入了解公司经营状况。 报告指出，张敏的任职符合独立性要求，其履职行为有效促进了公司治理的规范运作。展望2026年，张 敏表示将继续加强学习，恪尽职守，以促进公司持续健康发展，并感谢董事会及管理层的支持与配合。 中访网数据 北京指南针科技发展股份有限公司于近日披露了独立董事张敏的2025年度述职报告。报告 显示，张敏自2025年10月任职以来，严格按照相关法律法规及《公司章程》勤勉履职，积极参与公司决 策，切实维护公司整体利益及中小股东权益。 ...

Company Performance Forecasts - Zhongji Xuchuang expects a net profit of 9.8 billion to 11.8 billion yuan for 2025, representing a year-on-year increase of 89.50% to 128.17% due to strong demand for computing infrastructure and increased sales of high-speed optical modules [2] - Cambrian anticipates a net profit of 1.85 billion to 2.15 billion yuan for 2025, marking a turnaround from losses, driven by rising demand in the AI sector [3] - Xinye Technology forecasts a net profit of 9.4 billion to 9.9 billion yuan for 2025, reflecting a year-on-year growth of 231.24% to 248.86% due to increased investment in computing [4] - Aerospace Development expects a net loss of 1 billion to 1.65 billion yuan for 2025, although this represents an improvement from a loss of 1.673 billion yuan in the previous year [5] - Wentai Technology predicts a net loss of 9 billion to 13.5 billion yuan for 2025, impacted by significant investment losses and asset impairment [6] - China National Airlines anticipates a net loss of 1.3 billion to 1.9 billion yuan for 2025, compared to a loss of 237 million yuan in the previous year [8] - China Eastern Airlines expects a net loss of 1.3 billion to 1.8 billion yuan for 2025, despite an increase in passenger transport volume [9] - Huazhong Technology is under investigation by the China Securities Regulatory Commission for suspected information disclosure violations [10] Investment and Strategic Developments - Huayou Cobalt plans to collaborate on an integrated battery industry project in Indonesia, aiming to establish a production base for electric vehicle batteries [13] Shareholding Changes - BlueFocus Media's major shareholder plans to reduce holdings by up to 20 million shares due to personal financial needs [14] Other Company Updates - Yihualu expects a net loss of 2.176 billion to 2.791 billion yuan for 2025, with a projected negative net asset value, which may lead to a delisting risk warning [27] - Huayi Brothers anticipates a net loss of 289 million to 407 million yuan for 2025, with a potential negative net asset value that could trigger a delisting risk warning [28] - Kangtai Medical has obtained a medical device registration certificate for a non-invasive ventilator, enhancing its product line [29]

来源：金融界AI电报 指南针公告，2025年营业收入21.46亿元，同比增长40.39%。净利润2.28亿元，同比增长118.74%。公司 董事会审议通过的利润分配预案为：以总股本6.1亿股为基数，向全体股东每10股派发现金红利0.8元 （含税），送红股0股（含税），以资本公积金向全体股东每10股转增0股。 ...

每经AI快讯，指南针1月30日晚间发布年度业绩报告称，2025年营业收入约21.46亿元，同比增加 40.39%；归属于上市公司股东的净利润约2.28亿元，同比增加118.74%；基本每股收益0.38元，同比增 加111.11%。 每经头条（nbdtoutiao）——中国无人驾驶"军团"，"武装"阿布扎比 （记者 曾健辉） ...

证券代码：300803 证券简称：指南针 公告编号：2026-007 北京指南针科技发展股份有限公司 关于非公开发行可续期公司债券的公告 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 2026 年 1 月 29 日召开第十四届董事会第十三次会议，审议通过了《关于非公开发行可续期公司 债券的议案》。本事项尚需提交公司股东会审议。相关情况如下： 一、关于公司符合非公开发行可续期公司债券条件的说明 根据《公司法》《证券法》《公司债券发行与交易管理办法》等法律、法规及 规范性文件的有关规定，结合公司实际经营情况，公司经过逐项自查，认为公司 符合现行可续期公司债券政策规定的条件与要求，具备一次或分期面向专业投资 者非公开发行可续期公司债券的条件。 二、发行方案 为拓宽公司融资渠道，优化债务结构，降低融资成本，公司将一次或分期面 向专业投资者非公开发行可续期公司债券，具体方案如下： 1.发行规模 本次发行的可续期公司债券的规模不超过人民币 10 亿元（含 10 亿元）。 2.发行方式 本次可续期公司债券采用非公开发行 ...

二〇二五年度 北京指南针科技发展股份有限公司 审计报告 致同会计师事务所（特殊普通合伙） 目 录 | 审计报告 | 1-6 | | --- | --- | | 合并及公司资产负债表 | 1-2 | | 合并及公司利润表 | 3 | | 合并及公司现金流量表 | 4 | | 合并及公司股东权益变动表 | 5-8 | | 财务报表附注 | 9-99 | 致同会计师事务所（特殊普通合伙） 中国北京朝阳区建国门外大街 22 号 赛特广场 5 层邮编 100004 电话 +86 10 8566 5588 传真 +86 10 8566 5120 www.grantthornton.cn 审计报告 致同审字（2026）第 110A000226 号 北京指南针科技发展股份有限公司全体股东： 一、审计意见 我们审计了北京指南针科技发展股份有限公司（以下简称北京指南针公 司）财务报表，包括 2025 年 12 月 31 日的合并及公司资产负债表，2025 年度的 合并及公司利润表、合并及公司现金流量表、合并及公司股东权益变动表以 及相关财务报表附注。 我们认为，后附的财务报表在所有重大方面按照企业会计准则的规定编 制，公允反映了 ...