香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴 該內容而引致的任何損失承擔任何責任。 CHINA CHUNLAI EDUCATION GROUP CO., LTD. 中國春來教育集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1969） 於2026年2月5日（星期四）舉行之股東週年大會投票表決結果 於股東週年大會日期，本公司概無持有庫存股份（包括所持有或存繳於中央結算 及交收系統的任何庫存股份），且並無於股東週年大會上行使庫存股份之投票權； 亦不存在有待被註銷且應自有權出席股東週年大會並於會上就提呈決議案投票的 已發行股份總數中剔除的購回股份。 本公司之香港證券登記處香港中央證券登記有限公司獲委任於股東週年大會上擔 任點票之監票人。 全體董事均已親身或以電子方式出席股東週年大會。 1 於股東週年大會上有關提呈決議案之投票表決結果如下： | | 普通決議案 | | 票數(%) | | --- | --- | --- | --- | | | | 贊成 | 反對 | | 1. | 省覽 ...

致：香港交易及結算所有限公司 公司名稱: 中國春來教育集團有限公司 呈交日期: 2026年2月5日 I. 法定/註冊股本變動 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01969 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 50,000,000,000 | HKD | | 0.00001 | HKD | | 500,000 | | 增加 / 減少 (-) | | | | | | | HKD | | 0 | | 本月底結存 | | | 50,000,000,000 | HKD | | 0.00001 | HKD | | 500,000 | 本月底法 ...

Group 1: Market Overview - The Hong Kong stock market saw a net inflow of 32.22 billion HKD from northbound trading, with 20.39 billion HKD from Shanghai and 11.83 billion HKD from Shenzhen [1] - The most bought stocks included CSPC Pharmaceutical Group (01093), Xiaomi Group-W (01810), and the Tracker Fund of Hong Kong (02800) [1] Group 2: Notable Stock Transactions - CSPC Pharmaceutical Group (01093) received a net inflow of 9.36 billion HKD, following a strategic cooperation agreement with AstraZeneca for the development of innovative long-acting peptide drugs, potentially worth up to 18.5 billion USD [4] - The Tracker Fund of Hong Kong (02800) saw a net inflow of 5.89 billion HKD, with positive market sentiment driven by earnings recovery, improved liquidity, low valuations, and policy support [5] - Alibaba Group-W (09988) had a net inflow of 3.29 billion HKD, as it launched a high-end AI chip, enhancing its position in the AI technology sector [5] - Longi Green Energy Technology (06869) experienced a net inflow of 2.41 billion HKD, driven by strong demand for AI infrastructure and optical communication upgrades [5] Group 3: Stocks with Significant Net Outflows - Shandong Gold (01787) and Zijin Mining (02899) faced net outflows of 2.06 billion HKD and 6.35 billion HKD respectively, amid significant volatility in the precious metals market [7] - Semiconductor manufacturer SMIC (00981) saw a net outflow of 545.8 million HKD, with limited impact expected from the approval of H200 chips for the domestic market [7] - Xiaomi Group-W (01810) had a net inflow of 9.14 billion HKD, while China Mobile (00941) and CNOOC (00883) faced net outflows of 5.41 billion HKD and 5.25 billion HKD respectively [7]

Group 1: Market Overview - The Hong Kong stock market saw a net inflow of 32.22 billion HKD from northbound trading, with 20.39 billion HKD from Shanghai and 11.83 billion HKD from Shenzhen [1] - The most bought stocks included CSPC Pharmaceutical Group (01093), Xiaomi Group-W (01810), and the Tracker Fund of Hong Kong (02800) [1] - The most sold stocks were Zijin Mining (02899), China Mobile (00941), and CNOOC (00883) [1] Group 2: Notable Stock Performances - CSPC Pharmaceutical Group (01093) received a net inflow of 9.36 billion HKD, following a strategic cooperation agreement with AstraZeneca for the development of innovative long-acting peptide drugs, potentially worth up to 18.5 billion USD [4] - The Tracker Fund of Hong Kong (02800) saw a net inflow of 5.89 billion HKD, with positive market sentiment driven by earnings recovery, improved liquidity, and policy support [5] - Alibaba Group-W (09988) had a net inflow of 3.29 billion HKD, as it launched a high-end AI chip, enhancing its position in the AI sector [5] Group 3: Sector-Specific Insights - Long Fiber Optic Cable (06869) received a net inflow of 2.41 billion HKD, driven by strong demand for AI infrastructure and high-speed optical modules [5] - China Spring (01969) had a net inflow of 46.22 million HKD, with growth potential in student enrollment and tuition fee increases [6] - Gold stocks faced significant sell-offs, with Shandong Gold (01787) and Zijin Mining (02899) experiencing net outflows of 2.06 billion HKD and 6.35 billion HKD, respectively, amid volatility in the precious metals market [7]

Market Performance - The Hong Kong stock market indices collectively rose this month, with the Hang Seng Index increasing by 6.85% to close at 27,387.11 points, the Hang Seng Tech Index rising by 3.67% to 5,718.18 points, and the China Enterprises Index up by 4.53% to 9,317.09 points [2] - The Hang Seng Index showed resilience, climbing from a low of 26,498.35 points at the beginning of the month to a recent high of 28,056.10 points before a slight pullback [3] Sector Performance - High-performing sectors this month included AI, consumer goods, and real estate, driven by favorable policies and strong earnings [4] - Notable stock performances included: - Zhizhu (02513.HK) surged by 94.66%, recognized as the "first global large model stock" with strong market confidence in its AGI technology [4] - Woan Robotics (06600.HK) also rose by 94.67%, benefiting from AI and smart manufacturing policies [4] - Mingming Hen Mang (01768.HK) increased by 73.71%, supported by impressive revenue growth of 75.2% year-on-year [4][5] - Changfei Optical Fiber (06869.HK) saw a 61.90% increase, driven by rising demand for optical fiber due to AI computing infrastructure [5] Declining Stocks - Declining stocks included: - Zhu Feng Gold (01815.HK), which fell by 22.13% due to fluctuations in international gold prices [8] - Ganfeng Lithium (01772.HK) decreased by 16.46% as lithium carbonate futures prices dropped significantly [9] Institutional Insights - Institutional perspectives suggest a continuation of the spring market rally, focusing on dual drivers of policy and earnings [10] - Everbright Securities noted that the Hong Kong market is transitioning from being driven by funds to being driven by earnings, with a structural rebound expected in Q1 [10] - CITIC Securities highlighted three key investment directions: "14th Five-Year Plan" policies, sectors benefiting from policy reversals, and areas likely to gain from the spring rally [10] Education and Technology Sector - The education sector saw significant gains, with China Spring (01969.HK) rising by 22.76% due to AI integration in educational applications [11] - Longfei Optical Fiber (06889.HK) also experienced a slight increase, reflecting ongoing high demand for computing power [13] Commodity Market Impact - The commodity market faced volatility, with gold and other precious metals experiencing significant price fluctuations, impacting related stocks negatively [15][18] - The Chicago Mercantile Exchange announced margin adjustments to curb excessive speculation, which may further influence market stability [17]

Market Overview - Global markets experienced turbulence on January 30, with major indices such as Nikkei 225, Hong Kong stocks, and US futures all showing declines. Gold and silver prices plummeted, and Bitcoin saw a significant drop, leading to over 270,000 liquidations in the cryptocurrency market, totaling nearly $1.7 billion [1][2]. A-Shares Performance - A-shares showed mixed results, with the Shanghai Composite Index regaining the 4100-point mark, while the ChiNext Index rebounded after hitting a low. However, over 3,800 stocks in the market declined [1]. Sector Performance - CPO and optical communication stocks surged, with companies like Lian Te Technology and Tianfu Communication rising over 11%, and Changfei Optical Fiber hitting the daily limit. Conversely, industrial and precious metals sectors faced significant declines, with over 20 stocks, including Nanshan Aluminum and Tongling Nonferrous Metals, hitting the daily limit down [1]. Precious Metals Market - International precious metals saw a sharp decline, with gold prices dropping by 4% to below $5200 per ounce, marking a daily decrease of over $200. Silver prices fell over 5%, dropping below the $110 mark [1]. Cryptocurrency Market - Major cryptocurrencies continued to decline, with Bitcoin falling over 6% to below $82,300, and Ethereum and SOL dropping over 7%. In the last 24 hours, more than 270,000 traders were liquidated, with a total liquidation amount close to $1.7 billion [2]. Dollar Index - The US dollar index rebounded, rising by 0.44% to 96.58 as of 11:30 AM Beijing time [3]. Geopolitical Factors - Ongoing tensions in the Middle East are impacting global markets. US President Trump announced plans to engage in dialogue with Iran, and the market is closely watching the announcement of the next Federal Reserve Chair, which is expected to be revealed on January 30 [5].

Core Viewpoint - The private higher education sector in China is transitioning from scale expansion to a new phase that emphasizes both quality and distinctiveness, driven by policy guidance and market demand [1] Company Performance - China Spring (1969.HK) experienced a significant stock price increase, rising over 66% to a peak of 5.18 HKD, marking a new high in over four months [1] - For the fiscal year 2025, the company reported record-high performance metrics, achieving revenue of 1.791 billion CNY, a year-on-year increase of 9.8%, and a net profit of 836 million CNY, up 7.4% year-on-year [1] - The student enrollment continued to grow steadily, surpassing the "100,000+" threshold, reaching 109,952 students for the 2024/2025 academic year [1] Industry Trends - The integration of AI technology in education is highlighted, with the company deploying the DeepSeek R1 model and collaborating on an AI education platform to enhance teaching processes, personalize learning experiences, and streamline management tasks [1] - A report from Zhongtai Securities indicates that the continuous iteration of AI general models is enhancing their generalized capabilities and addressing benchmarks, which is expected to have a transformative impact on education by improving long text processing efficiency and reducing costs [1] - The commercial prospects of AI in education are viewed positively, as educational companies leverage the advantages of large model technology to empower their products [1]

Core Viewpoint - China Spring's stock surged over 70%, reflecting strong financial performance and growth potential in the private higher education sector [1] Financial Performance - For the fiscal year 2025, China Spring reported revenue of 1.791 billion yuan, an increase of 9.8% year-on-year [1] - The net profit reached 836 million yuan, showing a year-on-year growth of 7.4% [1] - The net profit margin stood at 46.7%, one of the highest in the private higher education industry [1] Growth Potential - The company is expected to benefit from steady growth in student enrollment and the consolidation of Tianping College, which is anticipated to contribute additional revenue [1] - China Spring's campuses are primarily located in Henan, Hubei, and Jiangsu provinces, indicating significant potential for tuition fee increases in the future [1] - The company is actively seeking overseas partnerships, which could create synergies between domestic and international institutions [1]

Core Viewpoint - China Spring (01969) experienced a significant stock price increase of over 70%, with a current price of HKD 5.17 and a trading volume of HKD 566 million, following the release of its fiscal year 2025 performance report [1] Financial Performance - The company reported a revenue of RMB 1.791 billion for the fiscal year 2025, representing a year-on-year growth of 9.8% [1] - Net profit reached RMB 836 million, showing a year-on-year increase of 7.4% [1] - The net profit margin for the period was 46.7%, one of the highest in the private higher education sector [1] Growth Potential - Huaxi Securities (002926) highlighted the company's growth potential, noting a steady increase in student enrollment and the expected contribution from the consolidation of Tianping College [1] - The company's campuses are primarily located in Henan, Hubei, and Jiangsu provinces, indicating significant room for tuition fee increases in the future [1] - The company is actively seeking overseas collaborations, which could create beneficial synergies between domestic and international institutions [1]

Core Viewpoint - China Spring (1969.HK) has seen a significant stock price increase, rising over 66% to reach a new high of HKD 5.18, driven by policy guidance and market demand in the private higher education sector [1] Company Performance - For the fiscal year 2025, China Spring reported record-high performance metrics, achieving revenue of CNY 1.791 billion, a year-on-year increase of 9.8%, and a net profit of CNY 836 million, up 7.4% [1] - The student enrollment has surpassed the "100,000+" threshold, reaching 109,952 for the 2024/2025 academic year, indicating steady growth in student numbers [1] Industry Trends - The private higher education sector is transitioning from scale expansion to a new phase that emphasizes both "quality and characteristics" [1] - The integration of AI technology in education is highlighted, with the deployment of the DeepSeek R1 model aimed at optimizing teaching processes, personalizing learning experiences, and simplifying management tasks [1] - A report from Zhongtai Securities notes that the continuous iteration of AI general models is enhancing their capabilities, which is expected to transform education by improving long text processing efficiency and reducing costs [1]