证券代码：300803 证券简称：指南针 公告编号：2024-027 北京指南针科技发展股份有限公司 关于延长公司 2022 年度向特定对象发行 A 股股票股东大会 决议有效期及授权期限的公告 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。 一、本次向特定对象发行股票有效期的情况说明 北京指南针科技发展股份有限公司（以下简称"公司"）于 2022 年 5 月 16 日、2022 年 6 月 2 日分别召开第十三届董事会第二次会议、2022 年第三次临时 股东大会，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》《关于提请公司股东大会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 A 股股票相关事宜的议案》等相关议案。公司于 2023 年 5 月 15 日、 2023 年 6 月 1 日分别召开第十三届董事会第十一次会议、2023 年第一次临时股 东大会，审议通过了《关于延长公司 2022 年度向特定对象发行 A 股股票股东大 会决议有效期的议案》《关于提请公司股东大会延长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 ...

公 司 研 证券研究报告 究 ＃＃iinndduussttrryyIIdd＃＃ 垂直应用软件 ＃investSuggestion＃ ＃ ＃dyC 指om 南pan 针y＃ （ 300803 ） investSug 增持 ( 维ges持tion ）Ch 3008 证03 券 业 务高增， 财＃ 富title＃ 管 理版 图持续完善 ange＃ ＃ createTime1＃ 2024 年 05月 14日 投资要点 公 ＃市场ma数rk据et Data＃ ＃ ⚫ sum 事ma 件ry＃ ：2 024年一季度，公司实现营业总收入2.94亿元，同比下降13.17%； 司 市场数据日期 2024-05-13 归母净利润 0.17 亿元，同比下降 70.74%；扣非净利润 0.16 亿元，同比 点 收盘价（元） 45.13 下降71.42%。 评 总股本（百万股） 408.96 报 流通股本（百万股） 404.19 ⚫ 金融信息业务受错月影响，证券业务同比高增。2024年一季度，公司实 净资产（百万元） 1902.46 现营业总收入2.94亿元，同比下降13.17%。金融信息业务方面，公司高 告 总资产（百万元） 652 ...

证券研究报告 公 2024年05月08日 司 报 告 指南针(300803) │ 行 业： 计算机/软件开发 公 投资评级： 买入（维持） 司 当前价格： 46.50元 季 2024 年一季报点评：证券业务维持盈利 目标价格： 57.95元 报 点 事件：指南针发布2024年一季报。1Q24实现营业收入2.94亿元/yoy- 评 基本数据 13.17%，实现归母净利润0.17亿元/yoy-70.74%，。 总股本/流通股本(百万股) 408.96/404.19 ➢ 金融信息服务：节奏变化影响收入，后续有望随市场回暖修复。 流通A股市值(百万元) 18,794.61 公司金融信息服务业务与资本市场景气度高度相关，受春节因素影响，公 每股净资产(元) 4.65 司产品营销周期滞后导致产品回款节奏差异，1Q24公司金融信息服务收入 资产负债率(%) 71.16 同比大幅下降。公司适时加大品牌推广及客户拓展力度，全年看依然有望 一年内最高/最低(元) 87.43/35.66 稳定增长。 ➢ 证券业务：麦高证券保持盈利，后续有望实现主业协同。 股价相对走势 1Q24麦高证券持续保持盈利。分业务看，1Q24麦高证券经纪业 ...

公司研 究 证 券研究 报 告 行业应用软件 2024年04月30日 指 南针（300803）2023年报及2024 年一季报点评 推 荐 （维持） 目标价：61.75元 传统业务承压，证券迈入良性发展轨道 当前价：47.37元 事项： 华创证券研究所  近期，公司发布 2023 年报及 2024 年一季报：2023 年实现营业收入 11.13 亿 证券分析师：吴鸣远 元，同比下滑11.33%；归母净利润0.73亿元，同比下滑78.54%；扣非净利润 0.65亿元，同比下滑80.39%。公司2024年一季度实现营收2.94亿元，同比下 邮箱：wumingyuan@hcyjs.com 滑13.17%；归母净利润0.17亿元，同比下滑70.74%；扣非净利润0.16亿元， 执业编 号：S0360523040001 同比下滑71.42%。 评论： 公司基本数据 总股本(万股) 40,896.20  传统金融信息服务业务业绩下滑，公司研发投入持续加大。2023 年证券市场 已上市流通股(万股) 40,418.53 交易低迷，进而导致开展中高端产品销售一定程度上的相对减少。公司在证券 总市值(亿元) 193.73 ...

有些情况其实上面都是大家有兴趣可以去看一下那么目前的话我们还是在一个正常提交资料以及正常沟通反馈的这么一个过程中事项进展之后我们会及时的进行信息披露陈老师好的好的谢谢李总然后还有就是关于我们的卖高征券的业务我们可以从财务数据里面看到 取得了持续的一个良好的一个经营的一个态势包括我们的经济业务、自营业务然后还有这个客户规模相关的这些从《一级报》的这个数据来看其实势头都还不错那因为现在也已经那个四月底了嘛我不知道咱们公司今年对卖高证券的KPI这一块有没有一些最新的这个要求和指示谢谢 其实围绕麦高证券今年的整个经营目标来讲首先来说麦高证券和指南针都是独立法人机构所以再加上从经营层面来讲的话大家业务也都是有隔离墙的我想对于任何一家企业在年初的时候应该对全年的经营肯定都会有些目标但是具体的是什么样的目标呢 不是很清楚但从整体的这个经营上来说我们肯定还是希望通过母公司的这个积极的赋能麦高证券可以实现一个就是业务上的一个快速的增长同时我们也是希望今年的话麦高的其他业务可以通过监管的验收来进行展业 那么我们再放长远一点去说脉络证据其实我们之前做过这个就是五年三部的发展计划嘛啊那么其实像我们脉方的一些研究报告当中就是首次覆盖的 ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 70.96 CNY, which corresponds to a P/E ratio of 61x for the year 2025 [1]. Core Views - The company's performance has declined due to adjustments in the marketing cycle and increased advertising expenses; however, the securities business continues to grow rapidly, indicating promising future growth potential [1]. - The report highlights that the decline in net profit is primarily due to two reasons: a delay in the marketing cycle of high-end products and an increase in sales expenses [1]. Summary by Sections Financial Performance - In Q1 2024, the adjusted revenue (including investment business income) was 3.24 billion CNY, with a net profit of 0.17 billion CNY, representing a year-on-year decline of 6.99% and 70.74% respectively [1]. - The expected EPS for 2024, 2025, and 2026 are projected to be 0.66 CNY, 1.16 CNY, and 1.61 CNY respectively [1]. Business Segments - The securities business has shown a significant increase, with net income from fees and commissions rising by 178.61% year-on-year, and net interest income increasing by 132.87% [1]. - The report anticipates that the rapid growth in the securities business will drive overall company performance in the future [1]. Market Position - The company is positioned as the first publicly traded enterprise in China focused on financial services for individual investors, offering advanced investment tools and solutions across four major areas: securities, futures, foreign exchange, and funds [2].

Investment Rating - The report maintains an "Accumulate" rating for the company [1] Core Views - The company's Q1 2024 performance was impacted by a "wrong month" effect in software sales, leading to a revenue decline of 13.17% year-on-year to 294 million yuan, and a net profit drop of 70.74% to 17 million yuan [2][3] - The financial information service revenue decreased due to the delayed marketing of high-end products, which affected cash collection timing [2] - Despite the challenges in software sales, the brokerage business of the company showed strong growth, with net commission income increasing by 178.61% year-on-year to 40 million yuan in Q1 2024 [3] Summary by Sections Financial Performance - Total revenue for 2023 was 1,113 million yuan, down 11.33% year-on-year, while the forecast for 2024 is 1,831 million yuan, representing a growth of 64.53% [2][7] - The net profit attributable to shareholders for 2023 was 73 million yuan, a significant decline of 78.54%, with projections of 141 million yuan for 2024, indicating a recovery of 94.66% [2][7] - The latest diluted EPS for 2023 was 0.18 yuan, with expectations of 0.35 yuan in 2024 [2][7] Business Segments - The software sales segment faced a decline due to the timing of product launches, while the brokerage segment continued to grow, with a 40.86% increase in client trading volume [3] - The self-operated business saw a remarkable increase in investment income, up 429.77% year-on-year to 29 million yuan in Q1 2024 [3] Valuation Metrics - The company is projected to have a P/E ratio of 132 for 2024, decreasing to 82 by 2026 [2][7] - The market capitalization is approximately 18.61 billion yuan, with a closing price of 45.51 yuan [4][5]

业绩简评 2024 年 4 月 26日，公司发布 2024 年一季报。公司2024年第一 季度实现营收 2.9 亿元，同比下滑 13.2%；实现扣非后归母净利 润 0.16 亿元，同比下滑-71.4%。 经营分析 麦高证券2024 年第一季度保持高速增长势头，且继2023年实现 盈利后，报告期内继续保持盈利。经纪业务净收入为0.40 亿元， 同比增长178.6%；利息净收入为0.13 亿元，同比增长132.9%； 报告期末代理买卖证券款为33.94亿元，较2023年末增长40.9%。 此外，公司实现 0.29 亿元投资收益，同比增长 429.8%，主要系 麦高证券自营业务经营较好。 非麦高证券业务营收为2.41 亿元，同比下滑24.3%；销售商品、 提供劳务收到的现金为2.6 亿元，同比下滑29.4%。主要系：1） 市场整体一季度交投平淡，日均成交额同比增长 1.9%；2）公司 本年度高端产品全赢系列私享家版软件于3 月 6 日至 4 月 12 日 之间展开营销，相较2023 年该产品的销售周期（2023 年 2 月 3 人民币(元) 成交金额(百万元) 日至 3 月17 日）滞后了约1 个月时间，从而导致了 ...

Financial Performance - Total revenue for Q1 2024 was CNY 293,508,665, a decrease of 13.17% compared to CNY 338,012,494 in the same period last year[3] - Net profit attributable to shareholders was CNY 16,788,949, down 70.74% from CNY 57,368,704 year-on-year[3] - Basic earnings per share decreased to CNY 0.04, a decline of 71.43% from CNY 0.14 in the previous year[3] - Total revenue for Q1 2024 was CNY 240,821,626, a decrease of 24.3% compared to CNY 318,206,952 in Q1 2023[21] - Net profit for Q1 2024 was CNY 16,787,738, down 70.7% from CNY 57,366,966 in Q1 2023[22] - Basic earnings per share for Q1 2024 was CNY 0.04, compared to CNY 0.14 in Q1 2023[23] Cash Flow and Liquidity - Net cash flow from operating activities was CNY 1,037,765,421, a decrease of 36.88% compared to CNY 1,644,008,826 in the same period last year[9] - The net cash flow from operating activities for the current period is ¥1,037,765,421, a decrease of 37% compared to ¥1,644,008,826 in the previous period[24] - Total cash inflow from investment activities is ¥1,090,954,334, significantly up from ¥150,074,107 in the previous period[25] - The net cash flow from investment activities is -¥120,930,098, an improvement from -¥157,954,702 in the previous period[25] - Cash inflow from financing activities totals ¥108,956,510, down from ¥203,339,116 in the previous period[25] - The net cash flow from financing activities is -¥3,587,705, compared to a positive net flow of ¥47,411,287 in the previous period[25] - The ending balance of cash and cash equivalents is ¥3,723,885,728, an increase from ¥2,895,628,655 in the previous period[25] - Cash received from sales of goods and services is ¥263,167,558, down from ¥372,825,511 in the previous period[24] - Cash received from interest, fees, and commissions is ¥60,918,054, up from ¥23,470,282 in the previous period[24] - Total cash outflow from operating activities is ¥506,255,254, a decrease from ¥1,105,593,449 in the previous period[24] Assets and Liabilities - The company's total assets increased by 20.21% to CNY 6,528,304,887 from CNY 5,430,841,906 at the end of the previous year[3] - Total assets increased to CNY 6,528,304,887 in Q1 2024, up from CNY 5,430,841,906 in Q1 2023, representing an increase of 20.2%[20] - Total liabilities rose to CNY 4,645,712,547 in Q1 2024, compared to CNY 3,577,656,303 in Q1 2023, an increase of 29.9%[20] - The total number of ordinary shareholders at the end of the reporting period was 38,981, with the top ten shareholders holding 40.50% of the shares[10] Investment and Income - Commission and fee income surged by 178.61% to CNY 39,992,128, driven by increased revenue from securities brokerage[9] - Investment income rose significantly by 429.77% to CNY 29,429,208, primarily from proprietary trading activities[9] - The company reported investment income of CNY 29,429,208 in Q1 2024, significantly up from CNY 5,555,046 in Q1 2023[22] - The net income from brokerage and proprietary business at Maigao Securities reached RMB 39.99 million, an increase of 178.61% year-on-year, while net interest income was RMB 12.69 million, up 132.87% year-on-year[15] Operational Metrics - The company's financial information service business experienced a significant decline in revenue compared to the same period last year, primarily due to a delayed marketing cycle for high-end products, resulting in cash flow and revenue being recognized in the second quarter instead of the first[15] - The total amount of securities bought and sold on behalf of clients was RMB 3.394 billion, representing a growth of 40.86% compared to the end of the previous year[15] - The company's advertising and online promotion expenses saw a slight increase year-on-year, contributing to a significant rise in the number of new paying users[15] - The company implemented stock option incentive plans in 2022 and 2023, leading to an increase in share-based payment expenses during the reporting period[15] - The total number of stock options exercised reached 686,200, with 11,850 options remaining unexercised as of the end of the reporting period[16] Equity and Investments - The company's long-term equity investments increased significantly to RMB 126.29 million from RMB 16.08 million, reflecting a growth of 685.66%[18] - The total equity attributable to shareholders of the parent company increased to CNY 1,902,463,856 in Q1 2024, compared to CNY 1,873,055,908 in Q1 2023[20] Inventory and Expenses - The company reported a decrease in inventory from RMB 485,809 to RMB 439,944, indicating a reduction of 9.45%[18] - Operating costs for Q1 2024 were CNY 28,796,579, a decrease of 6.1% from CNY 30,681,224 in Q1 2023[21] - Research and development expenses for Q1 2024 were CNY 34,100,199, slightly down from CNY 35,957,778 in Q1 2023[21] Audit Status - The company has not yet audited the first quarter report for 2024[25]

北京指南针科技发展股份有限公司 第十三届董事会第二十五次会议决议公告 证券代码：300803 证券简称：指南针 公告编号：2024-021 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 2024 年 4 月 23 日以邮件方式发出第十三届董事会第二十五次会议通知。 2. 本次董事会于 2024 年 4 月 26 日以通讯方式召开。 3. 本次董事会由董事长顿衡先生主持，本次会议应出席会议的董事 7 人，实 际出席会议的董事 7 人。 4. 本次董事会会议的召集、召开符合有关法律、行政法规、部门规章、规范 性文件和《公司章程》的规定。 二、董事会会议审议情况 本次会议以记名方式投票表决，审议通过以下事项： （一） 审议通过《2024 年第一季度报告》 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 《2024 年第一季度报告》（公告编号：2024-023）。 本议案已经独立董事专门会议审议通过。 （二） 审议通过《关于调整控股股东向 ...