终止29亿定增！指南针“补血”麦高证券按下暂停键，原因是？

Core Viewpoint - The financial technology company, Guide Compass, has announced the termination of its stock issuance plan aimed at raising up to 2.905 billion yuan for its wholly-owned subsidiary, Maigao Securities, which is experiencing a strong recovery in performance [1][2]. Group 1: Termination of Fundraising Plan - The stock issuance plan, which had been in progress for over three years, was officially terminated on October 31, with the company citing various internal and external factors as reasons for the decision [2][3]. - The initial plan was proposed in May 2022, shortly after Guide Compass acquired Maigao Securities, with the goal of raising up to 3 billion yuan to support the subsidiary [2][6]. - The latest revision of the fundraising plan, published in May 2025, adjusted the total amount to no more than 2.905 billion yuan [3]. Group 2: Performance of Maigao Securities - Maigao Securities has shown significant recovery, achieving a net profit of 70.36 million yuan in the first half of 2025, representing a year-on-year increase of 614.55% [4][5]. - The company reported a substantial increase in operating revenue, reaching 487 million yuan in 2024, with a net profit of 70.91 million yuan [4]. - For the first three quarters of 2025, Maigao Securities achieved a net income of 366 million yuan from fees and commissions, a 171.07% increase year-on-year [5]. Group 3: Future Strategies and Market Position - Despite the termination of the fundraising plan, Maigao Securities plans to monitor capital market dynamics and utilize various capital market tools to support its long-term business development [3][5]. - The company aims to enhance its business landscape by focusing on wealth management, brokerage services, and supplementing with investment banking, asset management, and proprietary trading [5]. - Maigao Securities is still working towards obtaining full operational licenses, as some of its investment banking and asset management services are pending regulatory approval [7].