粉笔(02469)涨超6%，截至发稿，涨6.51%，报2.78港元，成交额6889.78万港元。 消息面上，10月起，新一轮公务员招录进入公告发布高峰期。2026年国考最新公告今日发布，公告显 示，报考者年龄一般为18周岁以上、38周岁以下，对于2026年应届硕士、博士研究生，放宽到43周岁以 下。华泰证券此前指出，预计下半年随着国考临近，AI刷题班有望加速放量，预计全年销量有望接近 20万人次。考虑到新的AI产品具备更低的定价、更个性化和高效的学习体验、更难被盗版等特征，在 当下市场环境下具备较强竞争力和更稳健的盈利能力，该行认为中长期AI产品有望逐步替代传统产品 形态，并向更广泛的长尾用户渗透，推升用户增长和盈利天花板。 据悉，今年4月，粉笔上线AI刷题系统班，定价399元，AI产品可以实时规划学习数据、动态定制并调 整学习计划，极大提升用户体验。截至2025年6月30日，已销售5万份，累计销售额约2000万元。此外， 8月底，粉笔AI矩阵再次迎来创新升级——事业单位AI刷题班正式上线，公司计划于年内在更多科目推 出AI大班课。 ...

Core Viewpoint - The stock of Fenbi (02469) has increased by over 6%, currently trading at 2.78 HKD, with a transaction volume of 68.9 million HKD. The upcoming civil service examination is expected to boost the demand for AI-based test preparation courses, with projected sales nearing 200,000 participants for the year [1]. Company Summary - Fenbi launched an AI test preparation system in April, priced at 399 RMB, which enhances user experience by dynamically customizing learning plans based on real-time data [1]. - As of June 30, 2025, Fenbi has sold 50,000 units of its AI product, generating approximately 20 million RMB in sales [1]. - The company plans to introduce more AI courses across various subjects by the end of the year, following the recent upgrade of its AI matrix with the launch of the civil service AI test preparation course [1]. Industry Summary - The civil service examination recruitment is entering a peak announcement period starting in October, with the latest announcement for the 2026 national examination indicating age flexibility for applicants [1]. - Huatai Securities anticipates that the demand for AI test preparation courses will accelerate as the national examination approaches, driven by the competitive advantages of new AI products, including lower pricing and personalized learning experiences [1]. - The industry is expected to see a gradual replacement of traditional products by AI offerings, leading to increased user growth and profitability potential [1].

华泰证券此前指，预计下半年随着国考临近，AI刷题班有望加速放量，预计全年销量有望接近20万人 次。考虑到新的AI产品具备更低的定价、更个性化和高效的学习体验、更难被盗版等特征，在当下市 场环境下具备较强竞争力和更稳健的盈利能力，该行认为中长期AI产品有望逐步替代传统产品形态， 并向更广泛的长尾用户渗透，推升用户增长和盈利天花板。 消息面上，继公考及事业单位AI刷题系统班、自研硬件设备AI智能音箱后，粉笔推出基于大模型的教 资面试AI点评系统，为广大教师资格面试备考的考生带来全新的智能备考体验。此外，据粉笔近期披 露，其事业单位AI刷题班上线不久销量即突破5000份。 粉笔(02469)尾盘涨超5%，截至发稿，涨4.48%，报2.8港元，成交额1.55亿港元。 ...

Core Viewpoint - The company Fenbi (02469) has launched a new AI evaluation system for teacher qualification interviews, enhancing its product offerings in the education technology sector, which has positively impacted its stock performance [1] Group 1: Company Developments - Fenbi's stock rose over 5% towards the end of trading, currently at 2.8 HKD with a trading volume of 155 million HKD [1] - The newly launched AI evaluation system is based on large models, providing a new intelligent preparation experience for candidates [1] - Fenbi's AI question-answering class for civil service exams has seen sales exceed 5,000 shortly after its launch [1] Group 2: Market Outlook - Huatai Securities predicts that with the national exam approaching in the second half of the year, the AI question-answering class is expected to accelerate in sales, potentially reaching 200,000 participants for the year [1] - The new AI products are characterized by lower pricing, personalized and efficient learning experiences, and reduced risk of piracy, making them competitive in the current market [1] - The long-term outlook suggests that AI products may gradually replace traditional product forms, expanding user growth and profitability ceilings [1]

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: | 2025年9月30日 | | | | 狀態: 新提交 | | --- | --- | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | | | 公司名稱: | 粉筆有限公司 | | | | | | 呈交日期: | 2025年10月6日 | | | | | | I. 法定/註冊股本變動 | | | | | | | 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) | 02469 | 說明 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 USD | | 0.00001 | USD | | 50,000 | | 增加 / 減少 (-) | | | 0 | | | US ...

央广网北京10月2日消息（总台记者韩雪莹 高重 彭照）据中央广播电视总台中国之声《新闻纵横》报道，一支小小的粉笔，是否会勾起你的童年回忆？ 老师用它在黑板上写下知识点，又或是和儿时伙伴在街头巷尾的墙砖上用它留下充满童真的印记……大家记忆中的粉笔，很可能就产自"粉笔之乡"——湖北 孝感应城市黄滩镇刘垸村。应城的纤维石膏储量和品质冠绝全国，以石膏为原料制作粉笔的历史可以追溯至上世纪五十年代。 如今在刘垸村，400多户村民中近半数以生产和销售粉笔为生，他们不再仅仅制作书写粉笔，而是将不起眼的石膏变成创意粉笔，远销200多个国家和地 区，全村粉笔年产量过千万箱、产值过亿元。中国之声特别策划《我们村的"王牌"》，带您去看看生动鲜活、有实效、接地气的乡村产业新场景。本期推 出：《粉笔画出新图景》。 走进刘垸村，家家户户房前屋后的晾晒架上摆放着一排排五颜六色的粉笔，仿佛打翻的调色盘，撞进人们的视野里。村民刘汉银和粉笔打了大半辈子交 道，水与石膏粉怎么配比、打浆时间要多久，无需称重、也不用计时，他的手臂肌肉记忆就已足够精准。 刘汉银说："看起来没有技术，其实有技术含量，什么时候倒浆、刮浆？每一道工序都要掌握其规律。我们习惯了 ...

Core Viewpoint - The company, Fenbi, reported strong financial performance in the first half of 2025, with revenue of 1.492 billion yuan and a net profit of 227 million yuan, indicating a commitment to long-term development through technological innovation and service optimization [1] Group 1: Financial Performance - In the first half of 2025, Fenbi achieved revenue of 1.492 billion yuan and a net profit of 227 million yuan, with an adjusted net profit of 271 million yuan [1] - The company has maintained a stable level of R&D expenditure at 108 million yuan in 2025, consistent with the previous year [2] Group 2: R&D and Technological Innovation - Fenbi's R&D spending has consistently been at the forefront of the industry, with expenditures of 251 million yuan in 2024 and 221 million yuan in 2023 [3] - The company launched its self-developed vertical large model and a series of AI educational products, establishing a significant technological advantage in core teaching areas [2] Group 3: Market Position and Growth Potential - The AI-based courses have seen rapid growth, with approximately 50,000 sales and revenue of about 20 million yuan from the AI question-answering system class by June 30 [3] - Fenbi's AI products have positively influenced user consumption decisions, enhancing overall payment conversion efficiency [3] - The introduction of AI sprint classes aims to meet diverse user needs, potentially enriching revenue sources and driving performance growth in the second half of the year [3] Group 4: Competitive Landscape - The vocational education industry is experiencing short-term fluctuations, with some smaller institutions adopting aggressive pricing strategies, which may pressure overall market profitability [4] - Fenbi emphasizes a long-term development approach, focusing on technological innovation and service quality to maintain strategic stability [5] Group 5: Operational Efficiency and User Engagement - Fenbi has demonstrated strong performance in user retention and operational efficiency, with nearly 1.5 million participants in the newly launched AI interview mock exam competition [5] - The company reported a high willingness (98.43%) among users to recommend the interview mock exam product to peers, indicating significant conversion potential [5] - Technological innovations are expected to reduce marginal costs in teacher training, course development, and service delivery, enhancing cost control and profitability resilience [5]

Core Viewpoint - The company, Fenbi, reported its mid-year results for 2025, showing a revenue of RMB 1.49 billion and a net profit of RMB 227 million, indicating a decline compared to the previous year [2][3]. Financial Performance - For the six months ending June 30, 2025, Fenbi's revenue was RMB 1,491,952,000, down from RMB 1,630,470,000 in 2024, representing a decrease of approximately 8.5% [3]. - Gross profit for the same period was RMB 805,748,000, compared to RMB 883,203,000 in 2024, reflecting a decline of about 8.8% [3]. - The net profit for the period was RMB 226,651,000, down from RMB 277,739,000 in 2024, a decrease of around 18.4% [3]. - Adjusted net profit was RMB 271,459,000, compared to RMB 349,097,000 in 2024, indicating a decline of approximately 22.2% [3]. Research and Development - Fenbi maintained its leading position in R&D investment, spending RMB 108 million in the first half of 2025, consistent with the previous year [6]. - The company has consistently invested in R&D, with expenditures of RMB 251 million in 2024 and RMB 221 million in 2023, maintaining a leading level in the industry [6]. - Fenbi has launched a series of AI educational products, including AI teachers and exam preparation systems, establishing a significant technological advantage in core teaching areas [6]. AI Product Development - The AI question-answering system has sold approximately 50,000 units, generating around RMB 20 million in revenue, reflecting strong user demand for personalized training [6]. - The introduction of AI courses is seen as a new growth point for Fenbi, with the potential to enhance revenue sources and drive performance growth in the second half of the year [6]. Strategic Investments - Fenbi plans to reallocate its unutilized IPO funds of HKD 60.8 million to enhance teaching efficiency and service quality, with HKD 12 million dedicated to AI model development and commercialization [7]. - The remaining HKD 48.8 million will be invested in high-end talent and infrastructure related to advanced AI [7]. Market Position and Competitive Advantage - Fenbi emphasizes a long-term development strategy, focusing on technological innovation and service quality to maintain its competitive edge [8]. - The company has demonstrated strong performance in user retention and operational efficiency, with a recent AI mock interview competition attracting nearly 1.5 million participants [8]. - The efficiency gains from technological innovation are expected to lower marginal costs in teacher training, course development, and service delivery, enhancing financial stability and long-term value growth [8].

格隆汇9月29日丨粉笔(02469.HK)公告，李忠成已辞联席公司秘书及根据香港法例第622章公司条例第16 部及上市规则第19.05(2)条所规定，代表公司于香港接收法律程序文件及通知授权代表，自2025年9月29 日起生效。梁皑欣将接替李忠成获委任为联席公司秘书及法律程序代理人，自2025年9月29日起生效。 汪陶将继续担任另一位联席公司秘书。 ...

梁皑欣女士将接替李先生获委任为联席公司秘书及法律程序代理人，自2025年9月29日起生效。汪陶女 士将继续担任另一位联席公司秘书。 智通财经APP讯，粉笔(02469)发布公告，李忠成先生已辞任公司联席公司秘书及法律程序代理人，自 2025年9月29日起生效。 ...