In the second half of last year, advertisements for Compass's mini-programs were frequently seen, and benefiting from the rising trend of the A-share market, the company also delivered a solid annual report.
On January 31, Beijing Compass Technology Development Co., Ltd. (hereinafter referred to as "Beijing Compass") disclosed its audited report for the fiscal year 2025, marking the first annual report released on the ChiNext board. The report indicates the company maintained stable operations throughout the year, with its core financial information services business continuing to lead, and the acquisition of Pioneer Fund further expanding its business boundaries, resulting in an overall compliant and healthy financial condition.
In 2025, Beijing Compass achieved a total operating revenue of 2.146 billion yuan at the consolidated statement level, a year-on-year increase of 40.4%. Net profit attributable to shareholders of the parent company was 228 million yuan, surging 118.7% compared to the previous year. Basic earnings per share were 0.38 yuan, with diluted earnings per share at 0.37 yuan, demonstrating a significant improvement in profitability.
Analyzing the revenue structure, the financial information services business was the absolute core contributor, generating annual revenue of 1.509 billion yuan, which accounted for 98.03% of total operating revenue and maintained stable year-on-year growth. Advertising business revenue was 29.9389 million yuan, constituting 1.97% of the total, indicating a highly concentrated business structure.
Performance on the profit side was impressive. The total comprehensive income for the year reached 216 million yuan, and total comprehensive income attributable to shareholders of the parent company was 218 million yuan, doubling from 105 million yuan in the same period last year. This growth was primarily driven by increased revenue from the core business and contributions from investment income.
Compass's financial information services business operates on an internet platform, acquiring free customers through online advertising and guiding them to purchase paid products, thereby providing financial data analysis and securities investment consulting services. This business employs an advance payment settlement model, where initial fees or software licensing fees are recognized as revenue in a lump sum after the customer obtains authorization, while subsequent maintenance and operation fees are recognized as revenue over the service period.
During the reporting period, the company's information system controls were effective, generating financial data through automated system interfaces. The auditing firm conducted a key verification of the authenticity and completeness of the business revenue, including testing information system controls, reconciling sales collection records, and verifying customer identity authenticity, confirming that revenue recognition complied with Enterprise Accounting Standards.
As of December 31, 2025, the transaction price corresponding to the company's unfulfilled performance obligations (subsequent maintenance and operation fees) was 921 million yuan. Of this amount, 396 million yuan is expected to be recognized as revenue in 2026, 247 million yuan in 2027, and 277 million yuan in 2028 and beyond, ensuring business continuity.
In March 2025, Beijing Compass completed the acquisition of Pioneer Fund Management Co., Ltd., which was not under common control, cumulatively holding 90.02% of its equity and incorporating it into the consolidated financial statements. This merger resulted in goodwill of 302 million yuan. As of the end of the year, no impairment provision had been made for this goodwill, as the recoverable amount of Pioneer Fund's asset group exceeded its carrying value.
Following the acquisition, the company further expanded its business footprint into the fund sector, forming a diversified and synergistic business structure encompassing financial information services, securities business, fund business, and advertising services. As of December 31, 2025, the company's total assets at the consolidated level reached 15.297 billion yuan, a year-on-year increase of 40.7%. Equity attributable to shareholders of the parent company was 2.789 billion yuan, up 24.2% year-on-year.
In terms of asset composition, monetary funds stood at 9.251 billion yuan, financial assets held for trading were 2.191 billion yuan, and settlement reserve funds were 1.160 billion yuan. Total liquid assets amounted to 12.882 billion yuan, accounting for 84.2% of total assets, indicating ample liquidity reserves. Long-term equity investments were 3.237 billion yuan, primarily consisting of investments in subsidiaries, providing support for sustained business development.
On the liabilities side, the company's total consolidated liabilities were 12.529 billion yuan, with an asset-liability ratio of 81.91%. Liabilities were mainly composed of funds received for agency securities trading (10.115 billion yuan), short-term borrowings (525 million yuan), and bonds payable (420 million yuan), a structure that aligns with the operational characteristics of the securities and fund businesses.
The company's board of directors has reviewed and passed the 2025 profit distribution plan. Based on the existing total share capital of 610 million shares, the proposal is to distribute a cash dividend of 0.8 yuan per 10 shares (tax inclusive), totaling a cash dividend distribution of 48.7834 million yuan (tax inclusive). There will be no bonus share issue or capital reserve conversion into share capital. This plan is still subject to approval by the general meeting of shareholders.
Concurrently, the company plans a private placement of perpetual corporate bonds, with an issuance scale not exceeding 1 billion yuan (inclusive), to be used for supplementing working capital, optimizing the debt structure, and other purposes, thereby providing financial support for ongoing business development. Furthermore, in January 2026, the company established a wholly-owned subsidiary, Polaris Technology Co., Ltd., in Hong Kong to expand internet information service-related businesses, marking the beginning of its international layout.
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