Core Insights - The education sector experienced a rise of 1.86% on October 31, with Kevin Education leading the gains [1] - The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1] Education Sector Performance - Kevin Education (002659) closed at 5.98, up 4.73% with a trading volume of 253,800 shares and a transaction value of 150 million yuan [1] - Other notable performers included: - Angli Education (600661) at 10.68, up 4.60% [1] - Borui Communication (600880) at 5.02, up 3.29% [1] - Chuangye Heima (300688) at 30.21, up 3.28% [1] - Quantu Education (300359) at 5.61, up 3.12% [1] Capital Flow Analysis - The education sector saw a net inflow of 47.56 million yuan from institutional investors, while retail investors experienced a net inflow of 1.54 million yuan [2] - Notable capital flows included: - Zhonggong Education (002607) with a net outflow of 39.92 million yuan from institutional investors [3] - Chuangye Heima (300688) with a net inflow of 29.23 million yuan from institutional investors [3] - Kevin Education (002659) with a net inflow of 9.28 million yuan from institutional investors [3]

Group 1: New Stock Issuances - Multiple new stock issuances are scheduled for October 31, 2025, including Jiangbolong (301308) and Shikong Technology (605178) [1] - A total of 30 companies have announcements related to stock issuance or trading on this date [1] Group 2: Trading Alerts - Jiangbolong (301308) reported severe abnormal fluctuations in trading [1] - Other companies such as ST Wanfang (000638) and Yashichuangneng (603378) also have trading alerts on the same date [1] Group 3: Recent Announcements - Recent announcements include companies like Tianpu Co. (605255) and Kangsheng Co. (002418) with updates on October 31, 2025 [1] - The announcements cover various sectors, indicating a broad market activity [1]

Core Insights - ST Dongshi (603377.SH) reported its Q3 2025 financial results on October 31, 2025, highlighting significant institutional investor activity [1] Institutional Holdings - As of October 30, 2025, a total of 7 institutional investors disclosed holdings in ST Dongshi A-shares, with a combined shareholding of 341 million shares, representing 47.63% of the total share capital [1] - The institutional investors include Dongfang Shishang Investment Co., Ltd., Xinyu Runfang Investment Management Center (Limited Partnership), Huaneng Guicheng Trust Co., Ltd. - Huaneng Trust Yuanhe No. 1 Collective Fund Trust Plan, Beijing Daxing Investment Group Co., Ltd., Shijiazhuang Mingcai Trading Co., Ltd., Dengtou Holdings Group Co., Ltd., and Jinghan Holdings Group Co., Ltd. [1] - Compared to the previous quarter, the total institutional holding percentage decreased by 1.47 percentage points [1]

Core Viewpoint - ST Dongshi reported a significant decline in revenue and incurred losses in the third quarter of 2023, indicating financial challenges for the company [1] Financial Performance - The company’s revenue for the first three quarters of 2025 was approximately 497 million yuan, representing a year-on-year decrease of 24.43% [1] - The net profit attributable to shareholders was a loss of approximately 103 million yuan [1] - The basic earnings per share were a loss of 0.14 yuan [1]

Group 1 - The company ST Dongshi (SH 603377) held its 33rd meeting of the 5th Board of Directors on October 30, 2025, via communication, where it reviewed the Q3 2025 report and other documents [1] - For the year 2024, the revenue composition of ST Dongshi is as follows: driving training industry accounts for 91.9%, retail industry accounts for 3.07%, other businesses account for 2.43%, other categories account for 2.21%, and leasing industry accounts for 0.37% [1]

本议案已经公司董事会审计委员会审议通过，并同意提交公司董事会审议。 表决结果：11 票同意，0 票反对，0 票弃权，0 票回避。 | 证券代码：603377 | 证券简称：ST 东时 | 公告编号：临 | 2025-181 | | --- | --- | --- | --- | | 转债代码：113575 | 转债简称：东时转债 | | | 东方时尚驾驶学校股份有限公司 第五届董事会第三十三次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事会会议召开情况 东方时尚驾驶学校股份有限公司（以下简称"公司"或"东方时尚"）第五 届董事会第三十三次会议的会议通知于 2025 年 10 月 24 日以电话、电子邮件等 形式送达公司全体董事，会议于 2025 年 10 月 30 日以通讯方式召开。本次会议 由董事长孙翔女士主持。会议应参加董事 11 人，实际参加董事 11 人。本次会议 的召开符合有关法律、行政法规、部门规章、其他规范性文件和《东方时尚驾驶 学校股份有限公司章程》的有关规定，会议的召集、召开合法有效。 ...

Financial Performance - The company's operating revenue for the third quarter was ¥200,403,378.17, a decrease of 11.68% compared to the same period last year[4] - The net profit attributable to shareholders was ¥3,963,789.12, an increase of 110.78% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥24,903,631.78, up 167.72% from the previous year[4] - The basic earnings per share for the quarter was ¥0.01, reflecting a 120.00% increase year-on-year[4] - Total operating revenue for the first three quarters of 2025 was approximately ¥496.83 million, a decrease of 24.5% compared to ¥657.47 million in the same period of 2024[23] - The net loss attributable to shareholders for the first three quarters of 2025 was approximately ¥102.92 million, compared to a loss of ¥109.48 million in the same period of 2024, indicating an improvement of 6.4%[24] - The total comprehensive income attributable to the parent company was -102,923,846.07 CNY, compared to -109,477,299.07 CNY in the previous year[25] - Basic and diluted earnings per share were both -0.14 CNY, slightly improved from -0.15 CNY in the previous year[25] Cash Flow - The net cash flow from operating activities was ¥53,540,600.26, an increase of 96.83% compared to the same period last year[4] - The company experienced a decrease in cash flow from operating activities year-to-date, attributed to reduced collections and fixed expenses not decreasing proportionately[10] - The net cash flow from operating activities was 111,733,476.24 CNY, down from 185,302,843.90 CNY year-over-year[25] - Cash inflow from operating activities totaled 977,415,910.73 CNY, an increase from 820,189,805.78 CNY in the same period last year[25] - The net cash flow from investing activities was -2,322,248.42 CNY, compared to -16,719,899.20 CNY in the previous year[26] - Cash inflow from financing activities was 5,000,000.00 CNY, significantly lower than 249,912,534.18 CNY in the previous year[26] - The net cash flow from financing activities was -23,558,150.79 CNY, compared to -229,375,530.27 CNY in the previous year[26] - The ending cash and cash equivalents balance was 124,532,103.73 CNY, up from 35,174,935.48 CNY year-over-year[26] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,810,172,648.62, a decrease of 4.94% from the end of the previous year[5] - The company's total assets as of September 30, 2025, were approximately ¥3.81 billion, a slight decrease from ¥4.01 billion at the end of 2024[20] - Current assets totaled approximately ¥616.81 million as of September 30, 2025, compared to ¥596.46 million at the end of 2024, showing an increase of 3.5%[20] - Total liabilities decreased to approximately ¥2.80 billion as of September 30, 2025, from ¥2.87 billion at the end of 2024, reflecting a reduction of 2.5%[20] Shareholder Information - Shareholders' equity attributable to the parent company was ¥823,399,191.00, down 11.14% compared to the previous year[5] - The total number of common shareholders at the end of the reporting period is 13,452[12] - The largest shareholder, Dongfang Shishang Investment Co., Ltd., holds 106,141,600 shares, accounting for 14.85% of total shares[12] - The second-largest shareholder, Xinyu Runfang Investment Management Center, holds 73,116,000 shares, representing 10.23% of total shares[12] - The total shares held by Dongfang Shishang Investment and its concerted actions amount to 106,391,600 shares, or 14.88% of total shares[16] Non-Recurring Items - The company recorded a non-recurring loss of ¥20,939,842.66 for the period, primarily due to asset disposal losses and other non-recurring expenses[8] - The company received funds of ¥387 million from the controlling shareholder, which positively impacted the net profit for the period[9] Restructuring and Governance - The company is currently undergoing a pre-restructuring process as initiated by the Beijing First Intermediate People's Court on July 10, 2025[16] - A total of 1,000,000 shares held by the controlling shareholder were successfully auctioned on January 7-8, 2025, but the transfer has not yet been completed[14] - An additional 56,491,600 shares were auctioned on September 11-12, 2025, with the transfer still pending[15] - The actual controller, Xu Xiong, directly holds 250,000 shares, which is 0.03% of the total shares[16] - The company is actively cooperating with the temporary administrator to advance the pre-restructuring work, including debt claims and audits[16] - The company has not reported any changes in the top 10 shareholders due to securities lending activities[14] Research and Development - Research and development expenses were not reported for the first three quarters of 2025, compared to ¥9.12 million in the same period of 2024[23] Credit Impairment - The company reported a credit impairment loss of approximately ¥44.23 million in the first three quarters of 2025, compared to a loss of ¥28.18 million in 2024[24] Accounting Standards - The company did not apply new accounting standards starting from 2025[27]

Market Overview - The education sector increased by 0.2% on October 29, with Chuangye Heima leading the gains [1] - The Shanghai Composite Index closed at 4016.33, up 0.7%, while the Shenzhen Component Index closed at 13691.38, up 1.95% [1] Individual Stock Performance - Chuangye Heima (300688) closed at 30.40, up 6.70% with a trading volume of 123,500 shares and a turnover of 361 million yuan [1] - China High-Tech (600730) closed at 10.14, up 3.58% with a trading volume of 262,000 shares and a turnover of 266 million yuan [1] - Other notable stocks include: - ST Guohua (600636) at 8.35, up 0.72% [1] - Bo Rui Chuan Bo (600880) at 5.03, up 0.60% [1] - Zhong Gong Education (002607) at 2.73, unchanged [1] - Ang Li Education (600661) at 10.56, down 0.09% [1] - Xue Da Education (000526) at 41.77, down 0.17% [1] - Xing Dong Education (605098) at 40.57, down 0.32% [1] - ST Chuan Zhi (003032) at 6.76, down 0.44% [1] - Guomai Technology (002093) at 11.48, down 0.52% [1] Capital Flow Analysis - The education sector experienced a net outflow of 59.66 million yuan from institutional investors and 33.64 million yuan from retail investors, while retail investors saw a net inflow of 93.31 million yuan [2] - Notable capital flows include: - Chuangye Heima with a net inflow of 36.83 million yuan from institutional investors [3] - China High-Tech with a net inflow of 24.05 million yuan from institutional investors [3] - Xue Da Education with a net inflow of 10.23 million yuan from institutional investors [3] - ST Kaiyuan (300338) saw a net outflow of 2.24 million yuan from institutional investors [3] - Kevin Education (002659) had a net outflow of 3.23 million yuan from institutional investors [3]

New Stock Issuance - Multiple companies are experiencing significant abnormal fluctuations in stock prices, including 香农芯创 (300475) with a notice date of 2025-10-24[1] - 天普股份 (605255) reported on 2025-10-21[1] - 生益电子 (688183) and 达华智能 (002512) both reported on 2025-10-29[1] Trading Alerts - 21 companies have been flagged for abnormal trading activities as of 2025-10-29, indicating potential volatility in the market[1] - ST新华锦 (600735) and 汇绿生态 (001267) are among those with recent alerts on 2025-10-29[1] - The report includes links to detailed announcements for each company, providing transparency and further information for investors[1] Market Trends - The report highlights a trend of increased scrutiny on companies with abnormal stock price movements, suggesting a potential shift in regulatory focus[1] - Investors are advised to monitor these stocks closely due to the heightened risk associated with abnormal fluctuations[1]

| 证券代码：603377 | 证券简称：ST | 东时 | 公告编号：临 | 2025-179 | | --- | --- | --- | --- | --- | | 转债代码：113575 | 转债简称：东时转债 | | | | 重要内容提示： 东方时尚驾驶学校股份有限公司 关于召开2025 年第四次临时股东会的通知 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、 召开会议的基本情况 （一）股东会类型和届次 2025 年第四次临时股东会 （三）投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结 合的方式 （四）现场会议召开的日期、时间和地点 召开的日期时间：2025 年 11 月 13 日 14 点 30 分 召开地点：北京市大兴区金星西路 19 号东方时尚驾驶学校股份有限公司会 议室 （五）网络投票的系统、起止日期和投票时间。 （二）股东会召集人：董事会 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2025 年 11 月 13 日至2025 年 11 月 13 日 采用上海证券交易 ...