2025 Interim Report 卓越教育集团 China Beststudy Education Group Contents 目 錄 | Corporate Information | 公司資料 | 2 | | --- | --- | --- | | Company Profile | 公司簡介 | 5 | | Financial Highlights | 財務摘要 | 7 | | Management Discussion and Analysis | 管理層討論及分析 | 8 | | Corporate Governance and Other Information | 企業管治及其他資料 | 29 | | Interim Condensed Consolidated Statement of | 中期簡明綜合損益及 | 46 | | Profit or Loss and Other Comprehensive Income | 其他全面收益表 | | | Interim Condensed Consolidated Statement of | 中期簡明綜合財務狀況表 | 48 | | Fi ...

Core Insights -卓越教育集团's stock rose over 4%, reaching 5.25 HKD with a trading volume of 14.58 million HKD, following the release of its H1 2025 performance report [1] Group 1: Financial Performance - In H1 2025,卓越教育集团 achieved revenue of 920 million CNY, a year-on-year increase of 188.9% [1] - The net profit attributable to shareholders for H1 2025 was 150 million CNY, reflecting a year-on-year growth of 177.4% [1] Group 2: Growth Drivers - The significant revenue growth was driven by improvements in the quality of comprehensive literacy business products and services, leading to increased enrollment and renewal rates [1] - Successful market expansion in Guangzhou, Shenzhen, and Foshan, leveraging localized courses and brand influence, contributed to overall revenue growth [1] - The application of AI technology in teaching and marketing processes optimized operations, while talent strategies ensured a stable supply of teaching staff, further supporting business expansion [1] Group 3: Cost Management - The gross profit margin for H1 2025 was 45.0%, remaining stable year-on-year [2] - Sales expenses accounted for 6.8% of revenue, a decrease of 0.3 percentage points, while administrative expenses represented 12.5% of revenue, down 0.4 percentage points, indicating effective cost control [2] - Other operating expenses increased to 5.9% of revenue, up 1.4 percentage points, attributed to increased investments under the "ALLINAI" strategy [2] - The net profit margin slightly declined by 0.7 percentage points to 16.5%, but remains within a controllable range, reflecting the company's strong cost management capabilities during its rapid expansion phase [2]

Group 1 - The core viewpoint of the news is that 卓越教育集团 (Excellence Education Group) has shown significant growth in its financial performance for the first half of 2025, with a revenue increase of 188.9% year-on-year and a net profit increase of 177.4% [1][2] - The company achieved a revenue of 9.2 billion yuan and a net profit of 1.5 billion yuan in 2025H1, indicating more than double growth compared to the previous year [1] - Key factors driving this growth include improvements in the quality of comprehensive literacy business products and services, successful market expansion in Guangzhou, Shenzhen, and Foshan, and the application of AI technology in various operational processes [1] Group 2 - The gross profit margin for 2025H1 was reported at 45.0%, remaining stable year-on-year [2] - The sales expense ratio was 6.8%, a decrease of 0.3 percentage points, while administrative expenses accounted for 12.5% of revenue, down 0.4 percentage points, indicating effective cost control [2] - Despite a slight decline in net profit margin by 0.7 percentage points to 16.5%, the company maintains a manageable level of profitability during its rapid expansion phase, reflecting strong cost management capabilities [2]

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。 ...

Group 1 - The company, Excellence Education Group (03978), announced that on September 3, 2025, the trustee of the restricted share unit plan will purchase a total of 130,000 shares in the open market [1]

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]