北 京 大 成 律 师 事 务 所 关 于 北 京 指 南 针 科 技 发 展 股 份 有 限 公 司 向 特 定 对 象 发 行 A 股 股 票 的 补充法律意见书（七） 大成证字[2025]第 089 号 北京市朝阳区朝阳门南大街 10 号兆泰国际中心 B 座 16-21 层（100020） 16-21F, Tower B, ZT INTERNATIONAL CENTER, No.10 Chaoyangmen Nandajie, Chaoyang District, 100020, Beijing, China Tel： 8610-58137799 Fax： 8610-58137788 www.dentons.cn | 第一部分 关于审核问询的回复 5 | | --- | | 问题一 5 | | 问题二 51 | | 第二部分 关于补充核查期间的补充法律意见 66 | | 一、本次发行的批准和授权 66 | | 二、发行人本次发行主体资格 66 | | 三、本次发行的实质条件 67 | | 四、发行人的设立 77 | | 五、发行人的独立性 77 | | 六、发行人主要股东及实际控制人 77 | | 七、 ...

证券代码：300803 证券简称：指南针 公告编号：2025-060 北京指南针科技发展股份有限公司 关于召开 2025 年第三次临时股东会的通知 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、 召开会议的基本情况 1．股东会的届次：2025 年第三次临时股东会 2．股东会的召集人：公司董事会。公司于 2025 年 5 月 14 日召开了第十四 届董事会第二次会议，审议通过了《关于召开 2025 年第三次临时股东会的议案》。 3．会议召开的合法、合规性：本次股东会会议的召集程序符合有关法律、 行政法规、部门规章、规范性文件和《公司章程》的规定。 4．会议召开的日期、时间： 现场会议时间：2025 年 5 月 30 日（星期五）下午 3:00 开始 网络投票时间：2025 年 5 月 30 日（星期五） A. 通过深圳证券交易所交易系统进行网络投票的时间为：2025 年 5 月 30 日上午 9:15—9:25，9:30—11:30，下午 1:00—3:00； B. 通过深圳证券交易所互联网投票系统进行网络投票的时间为：2025 年 5 月 30 日上午 ...

证券代码：300803 证券简称：指南针 公告编号：2025-059 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 股股票股东会决 公司 2025 年第十一次独立董事专门会议审议通过了《关于延长公司 2022 年 度向特定对象发行 A 股股票股东会决议有效期的议案》和《关于提请公司股东 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 A 股股票相 关事宜的议案》。独立董事认为公司本次延长 2022 年度向特定对象发行 A 股股 票股东会决议有效期及授权期限，有利于确保公司 2022 年度向特定对象发行 A 股股票相关事宜的顺利推进，不会对公司正常经营与持续稳定发展造成重大影响， 符合《中华人民共和国公司法》《中华人民共和国证券法》《上市公司证券发行 注册管理办法》等相关法律法规的规定；审议程序符合相关法律法规及《公司章 程》的规定，不存在损害上市公司和股东，特别是中小股东利益的情形。 三、备查文件 1.北京指南针科技发展股份有限公司 2025 年第十一次独立董事专门会议决 议； 2.北京指南针科技发展股份有限公司第十四届董事会第二次会议决议。 议有效期及授权期限的 ...

Market Overview - A-shares saw a collective rise in the three major indices, with the Shanghai Composite Index returning to 3400 points, closing at 3403.95, up 0.86% [1] - The total market turnover reached 1.3499 trillion yuan, an increase of 23.9 billion yuan compared to the previous trading day [1] Financial Sector Performance - The financial sector experienced a significant surge, with China Pacific Insurance rising over 8% and both China Life and New China Life increasing by over 5% [9][10] - China Insurance Association released new service standards for elderly services, promoting their application in the insurance industry [10] Textile Sector Highlights - Huafang Co., Ltd. saw a dramatic rise, hitting the daily limit and achieving a 6.43% increase by the end of the day, with a trading volume of 1.567 billion yuan [5][7] - The company reported a revenue of 293.44 million yuan for 2024, a year-on-year increase of 4.89%, but a net loss of 55.52 million yuan [7] Brokerage Sector Insights - The brokerage sector also saw strong performance, with stocks like Hongta Securities and Jinlong Co. hitting the daily limit, while several others rose over 5% [12][14] - The sector's buyback actions have provided support for stock prices and contributed to the overall market stability [14] Cross-Border E-commerce Growth - Cross-border e-commerce and logistics sectors showed strong performance, with stocks like Fangda New Materials rising over 20% and several others increasing by over 10% [17][19] - Companies are actively responding to external challenges through price adjustments and supply chain restructuring, indicating potential new opportunities in the sector [19]

截至2025年5月14日 13:21，中证金融科技主题指数(930986)上涨0.88%，成分股赢时胜(300377)上涨4.00%，银之杰(300085)上涨3.87%，中科金财(002657)上 涨3.29%，安硕信息(300380)上涨2.62%，东方财富(300059)上涨2.42%。金融科技ETF(516860)上涨0.82%，最新价报1.23元。流动性方面，金融科技ETF盘中 换手4.86%，成交4402.15万元。拉长时间看，截至5月13日，金融科技ETF近1周日均成交7701.20万元。 5月7日，中国证监会印发《推动公募基金高质量发展行动方案》。 甬兴证券认为，行动方案通过引入与基金业绩表现挂钩浮动管理费收取机制，将基金公司盈利模式由"管理规模×管理费率"升级为"基金规模×管理费率（基 于基金业绩）"，基金业绩对于基金公司盈利重要性显著提升，驱动基金公司全面建立以基金投资收益为核心的考核体系。行动方案引导提升公募基金权益 投资规模与占比，研究推出更多与基金业绩挂钩、投资者回报绑定、鼓励长期持有的浮动费率基金产品，大力发展各类场内外指数基金，持续丰富符合国家 战略和发展导向的主题投资股票指数基 ...

Group 1 - The China Securities Financial Technology Theme Index (930986) decreased by 1.03% as of May 13, 2025, with mixed performance among constituent stocks, led by Lakala with a gain of 5.52% [1] - The Financial Technology ETF Huaxia (516100) fell by 0.93% but has seen a cumulative increase of 5.81% over the past week [1] - AI Agents are identified as a key driver of the software revolution, addressing the limitations of generative AI models and pushing AI technology towards practical and intelligent applications [1] Group 2 - The Financial Technology ETF Huaxia closely tracks the China Securities Financial Technology Theme Index, focusing on high-quality enterprises that integrate finance and technology [2] - The ETF covers multiple high-growth sectors, including internet brokerage, financial IT, mobile payments, AI industry chain, and trusted computing, with its top ten constituent stocks representing 53.28% of the total weight [2] - The top ten stocks include industry leaders such as Tonghuashun, Dongfang Caifu, and Hengsheng Electronics, indicating significant representation in the financial technology sector [2] Group 3 - The performance of the top ten stocks in the Financial Technology ETF shows declines, with notable drops including Ying Shisheng at -3.73% and Xin Dalu at -2.20% [4] - The weight of the top stocks varies, with Tonghuashun holding 9.46% and Dongfang Caifu at 8.94%, reflecting their importance in the index [4] - Overall, the data indicates a challenging environment for key players in the financial technology sector, despite the long-term growth potential [4]

Group 1 - The core viewpoint of the news is that a series of financial policies released by regulatory authorities has significantly boosted market sentiment and risk appetite, leading to a strong performance in the financial technology sector [3][4] - The China Securities Financial Technology Theme Index rose by 2.86%, with notable gains in constituent stocks such as Ying Shisheng (up 10.77%) and Xin Dalu (hitting the daily limit) [3] - The Huaxia Financial Technology ETF (516100) increased by 2.96%, attracting a small inflow of 10.95 million yuan over the past four trading days, indicating growing interest in the sector [3] Group 2 - The Huaxia Financial Technology ETF closely tracks the China Securities Financial Technology Theme Index, focusing on high-quality companies that integrate finance and technology across various high-growth sectors, including internet brokerage, financial IT, mobile payments, AI, and trusted computing [4] - The top ten constituent stocks of the ETF include industry leaders such as Tonghuashun, Dongfang Caifu, and Hengsheng Electronics, with a combined weight of 53.28%, showcasing significant representation in the financial technology sector [4][6] - The performance of individual stocks within the ETF shows positive trends, with notable increases in stocks like Tonghuashun (up 3.26%) and Dongfang Caifu (up 4.37%) [6]

Core Insights - The internet financial information service industry is experiencing rapid growth driven by the dual forces of high-quality development in the securities market and technological innovation, with the market size projected to expand significantly from 10.07 billion yuan in 2015 to 63.52 billion yuan in 2024, reflecting a compound annual growth rate of 22.71% [1][18] - The industry has evolved into a complete value chain from data collection and processing to intelligent information integration, benefiting from the continuous growth of household wealth and increasing demand for financial information from investors [1][18] Industry Overview - The internet financial information service industry emerged alongside the development of the internet, effectively utilizing its convenience and speed to provide investors with enhanced information services. The industry can be segmented into three categories: financial information terminal services, value-added information services, and online financial information services [3] - Despite the rapid growth of the industry, China's market size remains relatively small compared to its potential and the more mature international markets, indicating significant growth opportunities [3] Development History - The development of internet finance in China began before 2005, with traditional financial institutions initially moving their services online. The introduction of e-commerce in 1993 marked the start of a shift towards electronic business operations [5][6] - The period from 2005 to 2012 saw the emergence of true internet financial business models, including third-party payment, P2P lending, and crowdfunding, leading to significant changes in traditional financial models [6] Policy Environment - Government policies have been supportive of the healthy and orderly development of the internet financial information service industry, with initiatives aimed at enhancing data security, network security, and the application of new technologies [8][10] Industry Chain - The industry chain has matured, encompassing financial information, third-party payment, and online lending. The upstream includes data suppliers, banks, and individual fund providers, while the downstream consists of individual consumers, merchants, and enterprises [11] - The connection between merchants and end customers is crucial for the transaction volume of third-party payment services, with small and micro merchants playing a significant role in the market's long-tail effect [11] Market Dynamics - The financial sector is experiencing stable growth, with the total social financing scale projected to reach 408.3 trillion yuan in 2024, reflecting an 8% year-on-year increase. This stable financial environment provides a solid foundation for the development of the internet financial information service industry [13] - The software and information technology service industry, which includes internet financial information services, is crucial for economic development, with revenues expected to reach 13.73 trillion yuan in 2024, growing by 10% year-on-year [16] Competitive Landscape - Leading companies in the internet financial information service sector include Dongfang Caifu, Tonghuashun, and Zhinancai, which have capitalized on the rapid development of internet technology and the liberalization of interest rates to attract investors [20][23] - Dongfang Caifu's revenue from securities services is projected to be 8.494 billion yuan in 2024, while Tonghuashun's revenue is expected to reach 4.187 billion yuan, reflecting growth driven by increased demand for financial information services [23][25] Future Trends - The industry is expected to undergo a technological transformation with the integration of AI, big data, and cloud computing, leading to smarter services and improved user experiences [27] - Regulatory frameworks are becoming stricter, promoting the need for compliance and risk management, which will shape the industry's future development [28] - User demand is diversifying, pushing for innovative service offerings that cater to both individual and institutional investors, emphasizing real-time data and personalized services [29]

Core Viewpoint - The "Guiding Compass Stock" app has faced multiple user complaints regarding misleading marketing practices, including persistent phone harassment and exaggerated claims about its features, raising concerns about consumer deception [1][3][8]. Group 1: Marketing Practices - The app promotes a "1 yuan permanent experience" to attract users, claiming a value of 1580 yuan for its services, which has led to complaints of aggressive upselling tactics from company representatives [1][3]. - Users report receiving numerous unsolicited calls and messages after signing up, with staff pressuring them to upgrade to higher-priced versions of the software [1][4]. - The company employs a marketing model that combines "traffic promotion + direct sales + experiential sales," which has resulted in a significant increase in registered and paying users [3][4]. Group 2: Product Claims and User Experience - The app's main selling point is its "three locks" feature, which claims to provide intelligent monitoring and accurate buy/sell signals with a success rate of around 70% [4][5]. - Users have criticized the "three locks" feature for being misleading, with many reporting significant losses after following its buy signals [5][7]. - Experts have pointed out that the signals provided by the app often lag behind market movements, potentially leading users to make poor investment decisions [7][8]. Group 3: Regulatory Concerns - The app's marketing practices may violate regulations regarding investment advisory services, particularly concerning misleading claims and inducements to upgrade [8]. - Regulatory bodies have previously penalized similar firms for using deceptive marketing tactics and making unsubstantiated claims about their services [8].