Credit Brief — Beijing Compass Technology Development Co., Ltd. (指南针)
300803.SZ · Shenzhen ChiNext · Data window: 2022–2026 H1 · Sources: official periodic reports filed via cninfo (巨潮资讯网)
All figures are extracted mechanically from official filings and are traceable to source page (see §9). Narrative sections are analyst commentary; mechanical sections are produced without any LLM. Not investment advice. Not a credit rating.
1. Identity & legitimacy
- Legal representative: 冷晓翔
- Registered address: 北京市昌平区北七家镇七北路 42 号院 2 号楼 1 单元 501 室
- Office address: 北京市昌平区七北路 42 号院 TBD 云集中心 2 号楼 A 座
- Actual controller: 黄少雄和徐兵
- Employees: 3,783
Source: identity fields above are mechanically extracted from the issuer's own filed annual reports. - Registration data via corporate registry is not included in this build
2. Compliance & legal
Compliance screens (dishonest debtor / enforcement / penalties / business exceptions) require a registry data source not included in this build
3. Business profile
Top customer/supplier tables not generated for this issuer.
4. Financial dashboard (CNY mn)
Assets
| 2022 | 2023 | 2024 | 2025 | 2026 H1 | |
|---|---|---|---|---|---|
| Cash and bank balances | 1,218.9 | 2,569.5 | 6,559.2 | 9,251.2 | 11,666.8 |
| Trading financial assets | 854.9 | 384.7 | 930.0 | 2,191.3 | 3,325.4 |
| Accounts receivable | 44.5 | 107.0 | 136.3 | 201.9 | 1,153.1 |
| Other receivables | 30.6 | 8.4 | 56.6 | 14.2 | 14.6 |
| Inventories | 1.1 | 0.5 | 0.2 | 2.3 | 2.2 |
| Long-term equity investments | 2,292.9 | 2,253.1 | 126.7 | 126.7 | 0.2 |
| Fixed assets | 388.2 | 373.6 | 378.8 | 384.3 | 382.4 |
| Construction in progress | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Intangible assets | 43.4 | 60.4 | 68.1 | 99.7 | 96.8 |
| Total assets | 4,267.1 | 5,430.8 | 10,873.7 | 15,297.0 | 20,185.6 |
Liabilities
| 2022 | 2023 | 2024 | 2025 | 2026 H1 | |
|---|---|---|---|---|---|
| Short-term borrowings | 149.5 | 192.4 | 402.9 | 525.0 | 514.3 |
| Notes payable | 0.0 | 0.0 | 15.8 | 30.0 | 84.2 |
| Accounts payable | 46.5 | 60.5 | 113.5 | 130.1 | 84.0 |
| Contract liabilities | 38.5 | 38.8 | 77.4 | 67.0 | 87.0 |
| Other payables | 49.9 | 47.7 | 48.8 | 43.2 | 42.0 |
| Current portion of non-current liabilities | 9.5 | 14.6 | 18.7 | 23.5 | 23.9 |
| Long-term borrowings | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Bonds payable | 0.0 | 0.0 | 0.0 | 420.3 | 492.3 |
| Total liabilities | 2,585.9 | 3,577.7 | 8,648.0 | 12,529.2 | 17,000.5 |
Equity
| 2022 | 2023 | 2024 | 2025 | 2026 H1 | |
|---|---|---|---|---|---|
| Paid-in capital | 407.0 | 408.9 | 412.6 | 609.8 | 616.0 |
| Capital reserve | 338.8 | 436.5 | 700.8 | 829.3 | 1,166.8 |
| Retained earnings | 849.3 | 916.1 | 1,017.5 | 1,242.0 | 1,318.4 |
| Equity attributable to owners of the parent | 1,701.1 | 1,873.1 | 2,245.6 | 2,789.4 | 3,198.2 |
| Minority interests | -19.9 | -19.9 | -19.9 | -21.5 | -13.1 |
| Total equity | 1,681.2 | 1,853.2 | 2,225.7 | 2,767.9 | 3,185.1 |
Income statement
| 2022 | 2023 | 2024 | 2025 | 2026 H1 | |
|---|---|---|---|---|---|
| Revenue | 1,255.1 | 1,112.9 | 1,528.7 | 2,146.2 | 1,251.0 |
| Cost of sales | 134.6 | 141.0 | 173.4 | 193.3 | 109.6 |
| Selling expenses | 549.1 | 549.2 | 804.4 | 1,110.7 | 653.4 |
| Administrative expenses | 188.1 | 284.9 | 452.2 | 650.1 | 341.4 |
| Finance costs | -4.7 | 13.8 | 19.5 | 28.3 | 14.0 |
| Investment income | 18.7 | 77.9 | 148.9 | 228.7 | 93.6 |
| Operating profit | 273.8 | 63.2 | 102.9 | 211.2 | 132.9 |
| Profit before tax | 274.5 | 62.7 | 101.2 | 205.3 | 132.3 |
| Net profit | 338.4 | 72.6 | 104.2 | 225.6 | 123.5 |
5. Ratios
| Ratio | 2022 | 2023 | 2024 | 2025 | 2026 H1 |
|---|---|---|---|---|---|
| Current ratio | 1.24x | 1.21x | 1.10x | 1.15x | 1.15x |
| Quick ratio | 1.24x | 1.21x | 1.10x | 1.15x | 1.15x |
| Debt-to-asset ratio | 60.6% | 65.9% | 79.5% | 81.9% | 84.2% |
| Total debt / EBITDA | 0.49x | 1.94x | 2.77x | 3.80x | 5.97x |
| EBITDA interest coverage | 70.32x | 7.73x | 7.81x | 14.49x | 20.05x |
| Gross margin | 89.3% | 87.3% | 88.7% | 91.0% | 91.2% |
| Net margin | 27.0% | 6.5% | 6.8% | 10.5% | 9.9% |
| Return on equity (ROE) | 20.1% | 3.9% | 4.7% | 8.2% | 3.9% |
| Revenue growth | — | -11.3% | 37.4% | 40.4% | -41.7% |
| Net profit growth | — | -78.5% | 43.5% | 116.5% | -45.2% |
| Receivable days | 13 | 35 | 33 | 34 | 336 |
| Cash received / revenue | 113.5% | 100.2% | 100.9% | 84.3% | 87.1% |
| Operating CF / net profit | 1.14x | 19.80x | 42.98x | 13.53x | 17.48x |
| Free cash flow | -1,585.0 | 1,469.1 | 3,990.7 | 1,811.2 | 2,580.2 |
Mechanical risk flags
- ⚠ Current ratio: 1.15 (level: medium, reference threshold: <1.5)
6. Cross-check flags (mechanical reconciliation)
- 2023 · Cash-flow statement net increase vs balance-sheet cash movement: 1,448.5 vs 1,350.6 CNY mn (deviation 6.76%, severity mid)
Sources: 2023年年度报告.pdf p.100 「五、现金及现金等价物净增加额」 vs 2023年年度报告.pdf p.91 「货币资金」. CF-statement figure above the balance-sheet movement by 97.9 CNY mn — typical causes are restricted-cash release or cash-equivalent scope changes; flagged for analyst review. - 2024 · Cash-flow statement net increase vs balance-sheet cash movement: 4,490.1 vs 3,989.7 CNY mn (deviation 11.15%, severity mid)
Sources: 2024年年度报告.pdf p.94 「五、现金及现金等价物净增加额」 vs 2024年年度报告.pdf p.85 「货币资金」. CF-statement figure above the balance-sheet movement by 500.5 CNY mn — typical causes are restricted-cash release or cash-equivalent scope changes; flagged for analyst review. - 2025 · Cash-flow statement net increase vs balance-sheet cash movement: 3,084.8 vs 2,692.0 CNY mn (deviation 12.73%, severity mid)
Sources: 2025年年度报告.pdf p.92 「五、现金及现金等价物净增加额」 vs 2025年年度报告.pdf p.83 「货币资金」. CF-statement figure above the balance-sheet movement by 392.8 CNY mn — typical causes are restricted-cash release or cash-equivalent scope changes; flagged for analyst review. - 2026Q2 · Cash-flow statement net increase vs balance-sheet cash movement: 2,732.6 vs 2,415.5 CNY mn (deviation 11.6%, severity mid)
Sources: 2026年半年度报告.pdf p.48 「五、现金及现金等价物净增加额」 vs 2026年半年度报告.pdf p.39 「货币资金」. CF-statement figure above the balance-sheet movement by 317.1 CNY mn — typical causes are restricted-cash release or cash-equivalent scope changes; flagged for analyst review.
4 check(s) not run for missing inputs: 前五大应收 vs BS 应收账款; 前五大其他应收 vs BS 其他应收款; 前五大预付 vs BS 预付款项; 授信表内总合计 vs Σ机构行.
Premium tier. The analyst red-flag review and the industry-context commentary (sections 7–8 of the full brief) are not included in this free build. Join the waitlist for early access.
9. Method & provenance
All financial figures above were extracted mechanically from the company's official periodic reports (unit-normalized to CNY). Each key figure carries cell-level provenance — source file, page and original line item. Samples (latest annual period):
| Item | Period | Value (CNY mn) | Source file | Page | Raw line item | Raw value (as filed) |
|---|---|---|---|---|---|---|
| Cash and bank balances | 2025 | 9,251.2 | 2025年年度报告.pdf | 83 | 货币资金 | 9251245571.0 (元) |
| Total assets | 2025 | 15,297.0 | 2025年年度报告.pdf | 84 | 资产总计 | 15297047896.0 (元) |
| Accounts receivable | 2025 | 201.9 | 2025年年度报告.pdf | 83 | 应收账款 | 201913294.0 (元) |
| Fixed assets | 2025 | 384.3 | 2025年年度报告.pdf | 83 | 固定资产 | 384337769.0 (元) |
| Short-term borrowings | 2025 | 525.0 | 2025年年度报告.pdf | 84 | 短期借款 | 525049959.0 (元) |
This brief is built solely on officially filed public disclosures. It is not investment advice, not a credit rating, and not an offer of any service. Figures may contain extraction or caliber effects; verify against the original filings before relying on them.