国信证券指出，2025H1公司毛利率为45.0%，同比持平；费用端，销售开支收入占比为6.8%/-0.3pct；公 司行政开支收入占比为12.5%/-0.4pct，成本控制成效初显；其他经营开支收入占比为5.9%/+1.4pct，分 析系"ALLINAI"战略下加大相关投入。总体来看，受其他经营开支项目影响，期内归母净利率略微下滑 0.7pct至16.5%，但综合考虑公司目前处于快速扩张阶段，净利率保持在可控范围内，已能体现公司较 优的成本费用管控能力。 智通财经APP获悉，卓越教育集团(03978)涨超4%，截至发稿，涨4.17%，报5.25港元，成交额1457.52万 港元。 消息面上，卓越教育集团此前发布2025年上半年业绩。光大证券表示，卓越教育集团25H1实现营业收 入9.2亿元，同比+188.9%；归母净利润1.5亿元，同比+177.4%。25H1公司收入同比实现翻倍以上增 长，主要系：综合素养业务产品与服务质量不断提升，推动报读人次和续报率等运营指标持续上升；广 州、深圳、佛山市场拓展成效显著，依托本土化课程和品牌影响力扩大了市场份额，共同拉动了整体收 入增长；AI技术在教学、营销等环节的应用优 ...

消息面上，卓越教育集团此前发布2025年上半年业绩。光大证券表示，卓越教育集团25H1实现营业收 入9.2亿元，同比+188.9%；归母净利润1.5亿元，同比+177.4%。25H1公司收入同比实现翻倍以上增 长，主要系：综合素养业务产品与服务质量不断提升，推动报读人次和续报率等运营指标持续上升；广 州、深圳、佛山市场拓展成效显著，依托本土化课程和品牌影响力扩大了市场份额，共同拉动了整体收 入增长；AI技术在教学、营销等环节的应用优化了流程，人才策略保障了师资供给，进一步支撑了业 务扩张。 卓越教育集团(03978)涨超4%，截至发稿，涨4.17%，报5.25港元，成交额1457.52万港元。 国信证券指出，2025H1公司毛利率为45.0%，同比持平；费用端，销售开支收入占比为6.8%/-0.3pct；公 司行政开支收入占比为12.5%/-0.4pct，成本控制成效初显；其他经营开支收入占比为5.9%/+1.4pct，分 析系"ALLINAI"战略下加大相关投入。总体来看，受其他经营开支项目影响，期内归母净利率略微下滑 0.7pct至16.5%，但综合考虑公司目前处于快速扩张阶段，净利率保持在可控范围内，已 ...

格隆汇9月3日丨卓越教育集团(03978.HK)公布，于2025年9月3日，受限制股份单位计划受托人依据受限 制股份单位计划于公开市场上购买合共13万股份。 ...

卓越教育集团(03978)发布公告，于2025年9月3日，受限制股份单位计划受托人依据受限制股份单位计 划于公开市场上购买合共13万股份。 ...

智通财经APP讯，卓越教育集团(03978)发布公告，于2025年9月3日，受限制股份单位计划受托人依据受 限制股份单位计划于公开市场上购买合共13万股份。 ...

（ 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） （股份代號：3978） 自願性公告 根據受限制股份單位計劃購買股份 本公告乃由卓越教育集團*（「本公司」）自 願 作 出。 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 對 因 本 公 告 全 部 或 任 何 部 分 內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 China Beststudy Education Group 卓 越 教 育 集 團 * 本公司董 事 會（「董事會」）認 為，本 公 司 當 前 的 股 價 低 估 了 本 公 司 的 業 務 表 現及潛在價值，是購買股份以解決基於受限制股份單位計劃將授 出 股 份 來源的良機。本公司對自身業務前景及展望充滿信心，亦可作 為一項吸 引 人才並推動使關鍵僱員的利益與本公司利益達成一致，為 全體股東創 造 價值的策略。本公司目前的財務狀況足以支持股份購買 同時維持本公 司 業務的可持續發展 ...

FF301 II. 已發行股份及/或庫存股份變動 | 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) | 03978 | 說明 | | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | 847,221,000 | | 0 | | 847,221,000 | | 增加 / 減少 (-) | | | | | | | | | | 本月底結存 | | | | 847,221,000 | | 0 | | 847,221,000 | 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8月31日 | 狀態: | 新提交 | | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | 公司名稱: | 卓越教育集團 | | ...

Core Viewpoint - The company is embracing AI technology to enhance educational quality and efficiency, aiming to create a collaborative teaching model that integrates teachers, machines, and students. Group 1: AI Product Launch - The company launched four AI education products: AI Learning Situation, AI Reading, AI Learning Companion, and Adaptive Learning products [1][2] - The AI products are integrated into the company's self-developed teaching system, which allows for seamless data flow between teachers, students, and AI, enhancing teaching efficiency and personalization [2] Group 2: AI Strategy and Implementation - Starting in 2024, the company will fully embrace AI as a core strategy, focusing on exploration and practical application in classrooms [2] - AI tools are designed to reduce teachers' workload and improve student learning outcomes, with features like efficient grading and learning situation analysis [2] Group 3: Performance and Growth - In the first half of 2025, the company achieved a revenue of 917 million yuan, a year-on-year increase of 188.91%, and a net profit of 151 million yuan, up 177.39% [3] - The company has successfully expanded its market presence in Guangzhou, Shenzhen, and Foshan, solidifying its leadership position in the South China education sector [3]

Group 1 - The report highlights a sustained strengthening of GMV inflection points, indicating optimism for long-term growth in the education sector, particularly for Oriental Selection [4][5] - The report notes a significant increase in the dividend payout ratio to 60% for Excellence Education Group, which may support revenue growth in the second half of 2025 [10][11] - Shanghai Film's performance is under short-term pressure, but the release of "Wang Wang Mountain Little Monster" is expected to provide performance elasticity [13][15] Group 2 - Huabei Mining's revenue for H1 2025 decreased by 45% year-on-year, but cost control measures are expected to enhance future performance as quality projects are gradually put into production [19][21] - The report indicates that the pet ecosystem construction by Reap Bio is becoming increasingly comprehensive, with a notable increase in revenue and net profit in H1 2025 [24][25] - Silver Wheel's revenue and net profit showed significant growth in Q2 2025, driven by dual engines of "server liquid cooling + robotic joints" [27][29] Group 3 - Shaanxi Coal's production and sales volumes remained stable, with a slight increase in coal production in H1 2025, despite a decrease in revenue [31][33] - China Ruyi's net profit turned from loss to profit in H1 2025, driven by game publishing and content investment [36][37] - Light Media's animation production capacity continues to improve, with IP operations expected to become a new growth point [40][42] Group 4 - Cambrian's revenue for H1 2025 saw an extraordinary increase of 4347.82% year-on-year, with net profit also experiencing substantial growth [46]

Core Viewpoint - The company reported significant revenue and profit growth in the first half of 2025, driven by its focus on quality education and expansion in key markets [1][2]. Group 1: Financial Performance - In the first half of 2025, the company achieved revenue of 920 million yuan, a year-on-year increase of 188.9%, with a net profit of 150 million yuan, up 177.4% year-on-year [1]. - The proposed dividend is 0.107 yuan per share, with a payout ratio of 60%, resulting in a dividend yield of 4.54% based on the closing price on August 26 [1]. Group 2: Business Segments - Revenue from quality education, full-time review, and tutoring projects reached 720 million, 100 million, and 90 million yuan respectively, with year-on-year growth rates of 513.1%, -18.3%, and +17.6% [1]. - The growth in revenue and profit is primarily attributed to the substantial increase in the quality education segment and successful market expansion in Guangzhou, Shenzhen, and Foshan [1]. Group 3: Strategic Initiatives - As of June 30, 2025, the company's contract liabilities stood at 590 million yuan, reflecting a year-on-year increase of 28.1%, which supports revenue growth in the second half of the year [1]. - The company launched the "AI Storybook Parent-Child Co-Creation Course" and the "AI Adaptive Learning Tool AI Love Reading 1.0" to enhance its product offerings and integrate AI into teaching processes, aiming to improve educational quality and user experience [1]. Group 4: Market Outlook - The company is positioned as a leader in K12 education in South China, successfully transitioning to quality education while expanding its presence in the Greater Bay Area, particularly in Guangzhou, Shenzhen, and Foshan [2]. - Future revenue projections for 2025-2027 are estimated at 1.95 billion, 2.24 billion, and 2.55 billion yuan, with corresponding net profits of 320 million, 390 million, and 450 million yuan, reflecting a positive outlook for market share growth in Guangdong [2].