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 表 明 概 不 就 因 本 公 告 全 部 或 任 何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 Fenbi Ltd. 粉筆有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2469） 截 至2025年6月30日止六個月之 中期業績公告 截 至6月30日止六個月 | | | | | | | | | | | | | | | | 2025年 | 2024年 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | | | | | | | | | | 人民幣千元 | 人民幣千元 | | | | | | | | | | | | | | | | | （未經審計） | （未經審計） | | 收 | 入 | | | | | | | | | | | | | | 1,491,952 ...

8月25日，粉笔举办事业单位AI刷题班线上新品发布会，标志着公司在职业教育领域的AI产品矩阵进一 步完善。据介绍，该产品基于粉笔自主研发的垂域AI大模型，构建了完整的"测-学-练-考"闭环学习模 式，主打个性化学习路线，深度适配备考用户需求。 在原有成熟产品基础上，粉笔事业单位AI刷题班持续迭代升级。"事业单位考生群体多元、考情复杂多 变、考查内容独特，这些鲜明特点使得通用备考方案难以奏效，必须匹配专属解决方案。粉笔AI刷题 班就是针对这一需求而设计的。"粉笔事业单位项目负责人刘子丰介绍。 通过科目能力雷达图，粉笔事业单位AI刷题班为用户生成个性化备考路径，匹配最适合的学习计划和 备考策略，并量身定制每日学习计划，并依据实时表现动态调整，迅速优化下一步备考方案，实现精准 刷题。 值得注意的是，粉笔AI产品矩阵已全面验证其商业化逻 辑，形成可复制、可扩展的盈利模式。多款AI产品精准 覆盖用户日常高频练习、短期刚需提分、长期系统备考 三大场景，形成订阅制、按次付费、AI解决方案的多种 组合付费方案，为粉笔提供了可持续、多元化的盈利增 AI赋能备考模式闭环，重新定义高效学习路径 "AI刷题班"已经成为继系统班之后粉 ...

通过科目能力雷达图，粉笔事业单位AI刷题班为用户生成个性化备考路径，匹配最适合的学习计划和 备考策略，并量身定制每日学习计划，并依据实时表现动态调整，迅速优化下一步备考方案，实现精准 刷题。（罗宁） 责任编辑：李铁民 "AI刷题班"已经成为继系统班之后粉笔新一代拳头产品。粉笔首个AI刷题班已于今年4月上线，市场表 现亮眼。公告显示，截至6月30日，AI刷题系统班已销售约5万人次，收款约2000万元。 基于粉笔自研垂域大模型，粉笔事业单位AI刷题班实现科学规划，精准评估用户个体学情，智能识别 能力弱项和提分空间，AI系统根据测评结果和最新教研及考情评估，向用户推送定制化学习内容，告 别盲目学习。 新浪科技讯 8月26日下午消息，近日，粉笔发布事业单位AI刷题班新品，标志着公司在职业教育领域的 AI产品矩阵进一步完善。据介绍，该产品基于粉笔自主研发的垂域AI大模型，构建了完整的"测-学-练- 考"闭环学习模式，主打个性化学习路线，深度适配备考用户需求。 粉笔事业单位项目负责人刘子丰表示："事业单位考生群体多元、考情复杂多变、考查内容独特，这些 鲜明特点使得通用备考方案难以奏效，必须匹配专属解决方案。粉笔AI刷题班 ...

Group 1 - Miniso's stock increased by nearly 5% [1] - Lao Pu Gold and Xiaomi Group both rose by 2% [1] - Li Auto, Cha Bai Dao, and Guo Quan saw increases of over 1.5% [1] Group 2 - Bruker experienced a decline of over 13.5% [1] - Hou Shang A Yi fell by nearly 6% [1] - Leap Motor dropped by nearly 3.5% [1] - Pop Mart decreased by nearly 1% [1]

Core Viewpoint - The stock price of Fenbi (02469.HK) increased by 13.97% to HKD 3.670 as of the market close on August 19, reaching a nearly one-year high of HKD 3.930 during intraday trading [1] Group 1: Company Overview - Fenbi Limited is a non-degree vocational education training service provider in China, focusing on delivering high-quality vocational education through technology [1] - The company has developed a comprehensive suite of vocational exam training products and services, including high-quality live or recorded online training courses, supplemented by self-study materials and tools [1] - Fenbi has established itself as a well-known brand in China's vocational exam training industry, catering to adult learners seeking to advance in public service and various professional fields [1] Group 2: Financial Performance - On the trading day mentioned, the net inflow of funds into Fenbi was HKD 151.45 million, with no specific data provided for the inflow and outflow amounts [1]

Market Overview - Hong Kong stocks experienced volatility, with the Hang Seng Index closing down 0.21% at 25,122.9 points and a total turnover of 278.2 billion HKD [1] - The Hang Seng China Enterprises Index fell 0.3% to 9,006.23 points, while the Hang Seng Tech Index decreased by 0.67% to 5,542.03 points [1] Blue Chip Performance - China Resources Beer saw a significant increase of 6.24%, closing at 28.28 HKD, contributing 4.24 points to the Hang Seng Index [2] - The company reported a revenue of 23.942 billion RMB, a year-on-year increase of 0.83%, and a net profit attributable to shareholders of 5.789 billion RMB, up 23.04% [2] - Other notable blue chips included Zhongsheng Holdings, which rose 8.29%, and Hansoh Pharmaceutical, which increased by 4.75% [2] Sector Performance - Large tech stocks showed mixed results, with Tencent up 0.94% and Alibaba down 0.25% [3] - AI application stocks performed well, with Zhihu-W rising 23% and Fenbi increasing by nearly 14% [3] - The property management sector was active, with Wanwu Cloud rising 7.19% and Sunac Services increasing by 5.18% [4][5] Earnings Reports - Wanwu Cloud reported a revenue of 18.14 billion RMB, a 3.1% year-on-year increase, and a core net profit of 1.32 billion RMB, up 10.8% [5] - Kancheng Pharmaceutical reported a revenue of 1.569 billion RMB, a 23.7% increase, and a net profit of 498 million RMB, up 24.6% [8] - Li Auto announced a revenue of 24.25 billion RMB, a 174% increase, with a gross margin of 14.1% [9] Notable Stock Movements - Dongfang Zhenxuan experienced a significant drop of 20.89%, closing at 34.32 HKD, following rumors regarding its CEO [12] - Gilead Sciences saw a decline of 15.01% after announcing a share placement and a new share subscription at a discount [13]

Core Insights - The stock of Fenbi (2469.HK) surged over 22% during trading, reaching a high of HKD 3.93, marking the highest level since July of the previous year [1] - Fenbi announced the upcoming launch of its AI exam preparation system for public institutions, with a course release event scheduled for August 25 [1] - The AI exam preparation system was officially launched on April 7, and by early July, it had undergone its third version iteration [1] Financial Performance - According to Zheshang Securities, the cumulative sales of Fenbi's AI exam preparation system exceeded RMB 14 million within two months of its launch, with a paid student base reaching 40,000 [1] - Revenue is projected to surpass RMB 100 million by 2025 [1] Investment Strategy - Fenbi announced that it will allocate its unused IPO fundraising of HKD 60.8 million entirely towards AI investments [1] - Of this amount, HKD 12 million will be invested in AI vertical models, technology R&D, and commercialization of AI products, while HKD 48.8 million will be directed towards high-end talent and infrastructure related to advanced AI [1]

Core Viewpoint - The stock price of the leading vocational education company, Fenbi (02469), has increased by over 22% to a peak of HKD 3.93 per share, reflecting a 44% rise compared to the closing price of HKD 2.73 on August 1, driven by the accelerated effectiveness of its AI strategy [1] Group 1 - Fenbi announced a reallocation of its unused IPO funds amounting to HKD 60.8 million, with plans to invest HKD 12 million in AI vertical models, R&D, and commercialization of AI products, and HKD 48.8 million in high-end talent and infrastructure related to advanced AI [1] - The company has launched several intelligent teaching products, including Fenbi AI Teacher, premium AI interview feedback, and AI question-answering system classes, which have significantly improved operational efficiency and performance [1] - As of June 30, the AI question-answering system class has sold approximately 50,000 sessions, generating around HKD 20 million in revenue, with an annual sales forecast exceeding HKD 100 million [1] Group 2 - Fenbi's first AI hardware product, an intelligent speaker, was launched on August 15, establishing a "soft and hard integration" business ecosystem that encompasses course content, AI tools, and smart hardware [1] - With the application of AI across more business lines, Fenbi is expected to achieve resonance growth through scale and synergy effects, solidifying market confidence in its future development [2]

Group 1 - The core viewpoint is that the stock price of the leading vocational education company, Fenbi, has increased over 22% recently, reaching a peak of HKD 3.93 per share, reflecting a 44% rise compared to the closing price of HKD 2.73 on August 1 [1] - Fenbi announced a strategic increase in technology investment, reallocating its unused IPO funds of HKD 60.8 million, with plans to invest HKD 12 million in AI vertical models and product commercialization, and HKD 48.8 million in high-end talent and infrastructure related to advanced AI [1] - The company has launched several intelligent teaching products, including Fenbi AI Teacher and AI Question-Answering System, which have significantly improved operational efficiency and performance [1] Group 2 - The AI-driven products have already achieved notable sales, with approximately 50,000 users for the AI Question-Answering System, generating around HKD 20 million in revenue, and projected annual sales could exceed HKD 100 million [1] - Fenbi is successfully integrating AI technology into its core business and new ventures, establishing a comprehensive ecosystem that includes course content, AI tools, and smart hardware [1] - With the application of AI across more business lines, Fenbi is expected to achieve resonance growth through scale and synergy effects, solidifying market confidence in its future development [2]

Market Overview - The Hong Kong stock market indices collectively rose, with the Hang Seng Index up by 0.19% to 25,224.97 points, the Hang Seng Tech Index up by 0.10%, and the National Enterprises Index up by 0.13% [2][3] Gaming and Gambling Sector - Casino and gambling stocks led the gains, with Wynn Macau rising over 3%. Multiple institutions have released reports optimistic about the gaming industry's outlook, with Morgan Stanley predicting a continuous increase in Macau's gaming revenue from 2025 to 2027 [3][4] Real Estate Sector - The real estate sector showed strength, with China Fortune Land Development rising over 5%. The Chinese government is taking strong measures to stabilize the real estate market, emphasizing urban renewal and the renovation of old housing [5][6] AI Sector - AI concept stocks saw significant increases, with Fenbi rising over 18% and Zhihu over 17%. Analysts believe the AI industry is entering a phase of substantial development, transitioning from speculation to real growth, driven by favorable policies, technology, and capital [6][7] Internet Healthcare Sector - Internet healthcare stocks experienced some gains, with Ping An Good Doctor rising over 3%. The sector is benefiting from multiple favorable developments, including policy support and technological innovation [7][8] New Consumption Sector - The new consumption sector experienced a pullback, with Blukoo falling over 8%. Analysts suggest that the structural benefits of new consumption will continue, but the market has adjusted its earnings expectations for high-growth stocks [8][9]