证券代码：300803 证券简称：指南针 公告编号：2026-011 1. 北京指南针科技发展股份有限公司（以下简称"公司"）于 2026 年 2 月 9 日以邮件方式发出第十四届董事会第十四次会议通知。 2. 本次董事会于 2026 年 2 月 12 日以通讯方式召开。 3. 本次董事会由董事长吴玉明先生主持，本次会议应出席会议的董事 9 人， 实际出席会议的董事 9 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《关于控股股东向公司提供借款展期暨关联交易的议案》 为满足公司日常经营资金需求，公司控股股东广州展新通讯科技有限公司 （以下简称"广州展新"）拟将已向公司提供的两笔合计 15,000 万元借款期限自 届满之日起延长 1 年，用于补充公司流动资金，借款年利率为 3.4166%。 北京指南针科技发展股份有限公司 第十四届董事会第十四次会议决议公告 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 ...

关于控股股东向公司提供借款展期暨关联交易的公告 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 2 月 12 日召开的第十四届董事会第十四次会议，审议通过了《关于控股股东向公司提供 借款展期暨关联交易的议案》，公司控股股东广州展新通讯科技有限公司（以下 简称"广州展新"）拟将其向公司提供的两笔合计 15,000 万元借款期限自届满之 日起延长 1 年，本次交易构成关联交易，详情如下： 一、 本次关联交易情况 证券代码：300803 证券简称：指南针 公告编号：2026-012 北京指南针科技发展股份有限公司 (二)关联交易主要内容 现为满足公司日常经营资金需求，公司与广州展新于 2026 年 2 月 12 日签订 了《借款合同之补充协议（四）》，将上述 5000 万元借款期限自届满之日起延长 1 年，借款利率为 3.4166%，其他条款按《借款合同》约定执行；公司与广州展 新于 2026 年 2 月 12 日签订了《借款合同之补充协议（二）》，将上述 10,000 万 元借款期限自届满之日起延 ...

关于控股股东部分股份解除质押及部分股份 质押展期的公告 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"）接到公司控股股东 广州展新通讯科技有限公司（以下简称"广州展新"）通知，获悉广州展新所持 有的公司部分股份办理了解除质押手续，部分股份办理了质押展期手续，具体事 项如下： 一、股东股份质押基本情况 | 股东 | 是否为控股股 东或第一大股 | 本次解除 质押数量 | 占其所持 股份比例 | 占公司总 股本比例 | 是否为 | 原质押到 | 质押解除 | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 东及一致行动 | （股） | (%) | (%) | 限售股 | 期日 | 日 | | | | 人 | | | | | | | | | 广州 | 是 | 7,027,500 | 2.93 | 1.15 | 否 | 2026-2-15 | 2026-2-12 | 中信证券股 | | 展新 | | | | | | | | 份有限 ...

关于 2025 年年度股东会增加临时提案暨股东会 补充通知的公告 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 31 日披露了《关于召开 2025 年年度股东会的通知》（公告编号：2026-008），公司 定于 2026 年 2 月 25 日 14:30 召开公司 2025 年年度股东会。 证券代码：300803 证券简称：指南针 公告编号：2026-013 北京指南针科技发展股份有限公司 公司于 2026 年 2 月 12 日召开第十四届董事会第十四次会议，审议通过了《关 于控股股东向公司提供借款展期暨关联交易的议案》。 公司董事会于 2026 年 2 月 12 日收到控股股东广州展新通讯科技有限公司 （以下简称"广州展新"）书面提交的《关于提请增加北京指南针科技发展股份 有限公司 2025 年年度股东会临时提案的函》，提请公司董事会将《关于控股股东 向公司提供借款展期暨关联交易的议案》作为临时提案，提交公司 2025 年年度 股东会审议。广州展新持有公司股份 240,158,47 ...

Group 1 - The core viewpoint of the news highlights the ongoing fluctuations in the software sector, particularly within the ChiNext software ETF, which saw a slight decline of 0.09% as of February 11, 2026, while individual stocks like Wangsu Science & Technology and Guangliwei experienced significant gains of 10.60% and 9.04% respectively [1] - The report from Huatai Securities indicates that 2025 is expected to be the "Year of Agents," with 2026 likely marking a period of accelerated implementation of Agent technologies, driven by rapid iterations in Agentic Coding and fierce competition among major companies for personal agent assistants [1] - The rapid iteration of Agentic Coding is anticipated to reshape the software industry, potentially leading to a paradox where the value of standalone software may decline despite a surge in personalized, AI-generated software [1] Group 2 - As of January 30, 2026, the top ten weighted stocks in the ChiNext software index include Tonghuashun, Runze Technology, and Kunlun Wanwei, collectively accounting for 48.61% of the index [2] - The performance of individual stocks within the index shows varied results, with notable declines in stocks like Kunlun Wanwei at -4.13% and Tonghuashun at -1.26%, while others like Shenshuo Technology and Zhongke Chuangda showed positive movements [3]

Group 1 - The China Software Service Index decreased by 0.14% as of February 11, 2026, with mixed performance among constituent stocks, led by Qihoo 360 and followed by Guanglian Da and Shenxinfeng, while Dameng Data experienced the largest decline [1] - ByteDance's platforms, including Jianying and the AI creation platform Xiaoyunque, launched the image generation model Seedream 5.0 Preview, which supports 2K and 4K resolution outputs, enhancing image generation capabilities and allowing users to make precise adjustments [1] - GF Securities noted that AI large models significantly impact general software with high standardization and low technical barriers, but companies with vertical data barriers and private deployment capabilities will maintain structural advantages in regulated sectors like finance and energy [1] Group 2 - As of January 30, 2026, the top ten weighted stocks in the China Software Service Index accounted for 60.27% of the index, including companies like iFLYTEK, Kingsoft Office, and Tonghuashun [2] - The software ETF (159852) tracks the China Software Service Index, providing a convenient tool for investing in the computer software industry [2] - Investors can also access AI software investment opportunities through the software ETF linked fund (012620) [3]

Core Viewpoint - Jiufang Zhituo Holdings announced that its subsidiary, Shanghai Jiufang Cloud Intelligent Technology Co., Ltd., received an administrative regulatory decision from the Shanghai Securities Regulatory Bureau, requiring the company to rectify certain practices and suspend new client acquisitions for three months [1] Group 1: Regulatory Actions - The Shanghai Securities Regulatory Bureau found misleading marketing content, false information in live marketing, inadequate compliance management, and unregistered employees providing investment advice, violating relevant regulations [1] - During the suspension period, the company is prohibited from signing new clients and must submit monthly rectification reports to the regulatory authority [1] Group 2: Company Response and Financial Impact - Jiufang Zhituo Holdings stated that its operational status remains normal and that the regulatory measures do not involve significant violations, nor do they affect existing client services or the company's long-term operational capacity [1] - The company has confidence in maintaining stable operations and expects the financial impact of the regulatory measures to be manageable, with healthy cash flow anticipated [2] Group 3: Market Performance and Stock Reactions - On January 26, Jiufang Zhituo's stock price dropped over 30% amid rumors of regulatory scrutiny, closing down 25.92% [2] - Following a buyback announcement of 44.8357 million shares with a maximum expenditure of $100 million, the stock experienced a brief rebound but continued to decline in subsequent days, resulting in a total drop of 34% over four trading days [2] Group 4: Company Background and Performance - Jiufang Zhituo Holdings, headquartered in Shanghai, specializes in online investment education and financial information software services, and was the first securities advisory company to list on the Hong Kong Stock Exchange in March 2023 [3] - The company reported significant growth in 2025, with revenue of approximately 2.1 billion yuan, a year-on-year increase of 133.79%, and a net profit of 865 million yuan, nearly six times higher than the previous year [3] Group 5: Industry Context - Several third-party investment advisory firms have faced similar regulatory actions this year, with multiple companies being ordered to suspend new client acquisitions for various periods due to violations [5] - Notable penalties in the past year include fines and revocation of licenses for firms like Zhongfang Xinf and Qingdao Damo Securities, indicating a tightening regulatory environment for the industry [5]

Core Viewpoint - The software index of the ChiNext market has shown positive performance, driven by advancements in AI technology and its commercialization, with significant movements in key stocks within the sector [1]. Group 1: Market Performance - As of February 10, 2026, the ChiNext Software Index (399264) increased by 0.89%, with notable gains from stocks such as Guotou Intelligent (+9.11%), Wanxing Technology (+6.59%), and Information Development (+4.88%) [1]. - The ChiNext Software ETF (159256) rose by 1.09%, with a trading volume of 101 million yuan, indicating active market participation [1]. Group 2: AI Technology Developments - Since early February 2026, the iteration and commercialization of AI Agent technology have accelerated, highlighted by Google's integration of Gemini 3 into all desktop Chrome browsers on February 1 [1]. - On February 3, the AI assistant OpenClaw achieved a breakthrough, enabling local computer deployment to execute commands for file reading and software operation [1]. - Anthropic released a new AI tool for enterprise legal services on February 3, raising concerns about the potential disruption of the enterprise software industry by AI programming tools [1]. Group 3: Index Composition - As of January 30, 2026, the top ten weighted stocks in the ChiNext Software Index accounted for 48.61% of the index, including Tonghuashun, Runze Technology, and Kunlun Wanwei [1]. - The top ten stocks by weight are as follows: - Tonghuashun: 8.68% - Zhina Zhen: 6.38% - Runhe Software: 4.93% - Kunlun Wanwei: 4.66% - Shensinfeng: 3.58% - Runtong Power: 3.82% - Zhongke Chuangda: 3.08% - Huada Jiutian: 2.87% - Shenzhou Taiyue: 2.83% [3].

Group 1 - The software concept is experiencing a surge, with the ChiNext Software ETF (159256) rising by 3.86% as of February 9, 2026, and notable stocks like Dongfang Guoxin and Wanxing Technology increasing by 16.73% and 11.63% respectively [1] - In the past 21 trading days, the ChiNext Software ETF has attracted a total of 539 million yuan [1] - ByteDance has launched its latest video model, Seedance 2.0, which is now available on the Jiemeng platform, allowing users to generate videos from text/images and use video/audio as reference materials [1] Group 2 - The ChiNext Software ETF closely tracks the ChiNext Software Index, which as of January 30, 2026, has its top ten weighted stocks including Tonghuashun, Runze Technology, and Kunlun Wanwei, accounting for a total of 48.61% of the index [2] - The top ten stocks in the ChiNext Software Index are as follows: Tonghuashun (3.64% increase, 8.68% weight), Guiding Compass (1.10% increase, 6.38% weight), and Runhe Software (2.31% increase, 4.93% weight) among others [3]

Core Viewpoint - The company experiences significant revenue growth driven by active trading, increased marketing efforts, and the consolidation of Maigao Securities, with a focus on financial information services and securities as dual growth engines. The acquisition of Pioneer Fund may provide new momentum for future development [1]. Financial Performance - The company maintains a "Buy" rating with a target price of 144.9 yuan, corresponding to a 90x P/E for 2027. Adjusted revenue and net profit for 2025 are projected at 2.366 billion yuan and 228 million yuan, respectively, reflecting year-on-year increases of 41.01% and 118.7%. Net profit estimates for 2026-2028 are adjusted to 561 million, 981 million, and 1.38 billion yuan, with EPS of 0.92, 1.61, and 2.26 yuan [2][3]. Business Segments - The financial information services business shows steady growth, while the securities business experiences rapid expansion. Total revenue for 2025 is projected at 2.366 billion yuan, with net profit at 228 million yuan, both achieving high growth due to active capital market trading. The average daily trading volume for 2025 is expected to reach 20.003 trillion yuan, a year-on-year increase of 64.07%. The securities business, particularly Maigao Securities, is expected to generate net income from commissions and fees of 505 million yuan, a 110% increase year-on-year, and net interest income of 101 million yuan, a 33% increase [3][4]. Strategic Development - The company adheres to a dual-driven development strategy focusing on financial information services and securities, aiming to create a comprehensive wealth management service platform. The active trading environment and strong demand for wealth management among residents are expected to continue. The number of active users for the securities app is projected to reach 175 million by December 2025, a year-on-year increase of 2.26%. The acquisition of Pioneer Fund is expected to enhance the company's wealth and asset management capabilities, contributing to a positive development trajectory [4][5].