具体内容请详见公司刊载于指定信息披露媒体的《关于签署<展期协议书三> 暨关联交易的公告》（公告编号：2023-030）、《关于借款事项的进展公告》（公 告编号：2023-039、2023-047、2023-070、2023-075、2024-012、2024-014、2024-039、 2024-062、2024-066）。 二、进展情况 经友好沟通，公司已于近日向紫光卓远偿还借款本金人民币 4000 万元，上 述借款本金对应利息由公司在 2024 年 12 月 31 日前另行支付。截至目前，公司 对紫光卓远的剩余借款本金金额约为人民币 1.59 亿元。 证券代码：000526 证券简称：学大教育 公告编号：2024-089 学大（厦门）教育科技集团股份有限公司 关于借款事项的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、基本情况概述 经学大（厦门）教育科技集团股份有限公司（以下简称"公司"）第十届董 事会第七次会议、2022年年度股东大会审议通过，同意公司与西藏紫光卓远科技 有限公司（曾用名：西藏紫光卓远股权投资有限公司，以下简称"紫光卓远" ...

Investment Rating - The investment rating for the company is "Outperform the Market" [2] Core Views - The company reported a revenue of 2.2 billion yuan for the first three quarters of 2024, representing a year-on-year growth of 25%. The net profit attributable to the parent company was 180 million yuan, up 50% year-on-year [5] - In the third quarter of 2024, the company generated a revenue of 630 million yuan, a 16% increase year-on-year, but the net profit attributable to the parent company decreased by 50% to 14.19 million yuan [5] - The company is enhancing its operational efficiency and has plans to invest in vocational education and training, aiming to establish a comprehensive talent cultivation system [6] Financial Performance Summary - For the first three quarters of 2024, the company achieved a net profit of 210 million yuan, with a net profit margin of 4.8% and a gross margin of 32.2% [5] - The management expense ratio slightly increased, with sales, management, and financial expense ratios at 6.9%, 20.1%, and 2.4% respectively [5] - The company expects revenues of 2.73 billion yuan, 3.31 billion yuan, and 3.98 billion yuan for 2024, 2025, and 2026 respectively, with corresponding net profits of 212 million yuan, 270 million yuan, and 333 million yuan [7][10] Valuation and Forecast - The company is projected to have a price-to-earnings (P/E) ratio of 25-30 times for 2025, leading to a reasonable value range of 54.75 to 65.70 yuan per share [7] - The estimated revenue growth rates for 2024, 2025, and 2026 are 23.2%, 21.3%, and 20.4% respectively, with net profit growth rates of 37.9%, 27.4%, and 23.4% [8][10] Market Comparison - The company’s P/E ratio for 2025 is estimated at 28.59, compared to its peers such as New Oriental at 13.60 and Aonli Education at 24.02 [9]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [1] Core Views - The company reported a revenue of 627 million yuan in Q3 2024, representing a year-on-year increase of 15.70%. However, the net profit attributable to shareholders was 14 million yuan, a decrease of 49.67% year-on-year. The net profit excluding non-recurring items was 9 million yuan, down 45.97% year-on-year [3] - For the first three quarters of 2024, the company achieved a total revenue of 2.247 billion yuan, up 25.29% year-on-year, and a net profit of 176 million yuan, an increase of 50.16% year-on-year [3] - The increase in management expenses due to stock incentive costs led to a rise in the management expense ratio. The gross profit margin for Q3 2024 was 32.24%, a decrease of 0.69 percentage points year-on-year [3] - The company plans to expand its personalized education services and has opened its first bookstore in Shanghai, aiming to establish over 100 bookstores in more than 20 cities within the next five years [4] Financial Summary - The company forecasts revenues of 2.769 billion yuan, 3.210 billion yuan, and 3.714 billion yuan for 2024, 2025, and 2026, respectively, with corresponding revenue growth rates of 25.17%, 15.92%, and 15.68% [5] - The projected net profits for 2024, 2025, and 2026 are 220 million yuan, 287 million yuan, and 365 million yuan, with net profit growth rates of 42.89%, 30.73%, and 27.11% [5] - The earnings per share (EPS) are expected to be 1.78 yuan, 2.33 yuan, and 2.96 yuan for the years 2024, 2025, and 2026, respectively [5]

Investment Rating - The report maintains a "Buy-A" rating for the company [4] Core Insights - The company achieved a total revenue of 2.247 billion with a year-on-year growth of 25.29% and a net profit of 176 million, reflecting a 50.16% increase [1] - The sales gross margin for the first three quarters of 2024 was 34.98%, up by 0.55 percentage points year-on-year, while the net profit margin increased by 1.33 percentage points to 7.70% [2] - The company is focusing on business transformation and has identified four core business segments: personalized education, vocational education, cultural reading, and medical-education integration [2] - The company plans to invest 494 million in new business areas, including vocational education and cultural service projects [2] Financial Data and Valuation - The projected net profit for the company from 2024 to 2026 is estimated at 230 million, 323 million, and 464 million respectively, with EPS expected to be 1.86, 2.62, and 3.77 [3] - The P/E ratios for the same period are projected to be 25.3, 18.0, and 12.5 [3] - The company reported a total revenue of 2.748 billion for 2024E, with a year-on-year growth of 24.2% [7] - The net profit for 2024E is projected at 230 million, showing a year-on-year growth of 49.3% [7]

Investment Rating - The report maintains a "Buy" rating for the company, with a target price not specified [6][5]. Core Insights - The company reported Q3 2024 revenue of 600 million, a year-on-year increase of 16%, while net profit attributable to shareholders decreased by 50% to 14 million [1]. - For the first three quarters of 2024, the company achieved a revenue of 2.2 billion, up 25% year-on-year, and a net profit of 176 million, an increase of 50% [1]. - The gross margin for the first three quarters of 2024 was 35%, an increase of 0.6 percentage points, while the net profit margin was 7.8%, up approximately 1.3 percentage points [1]. - The company has adjusted its earnings forecast for 2024-2026, projecting revenues of 2.9 billion, 3.6 billion, and 4.3 billion respectively, with EPS estimates of 1.7, 2.3, and 2.8 [2][5]. Financial Performance Summary - Q3 2024 revenue was 600 million, with a net profit of 14 million, and a non-GAAP net profit of 10 million, reflecting a decrease of 50% and 46% respectively [1]. - For the first three quarters of 2024, the company reported a gross profit margin of 35% and a net profit margin of 7.8% [1]. - The company’s total revenue for 2022 was 1.8 billion, which is expected to grow to 2.9 billion in 2024, representing a growth rate of 30.16% [8][11]. Strategic Developments - The company is expanding its educational services by acquiring a 90% stake in Yueyang Yusheng Education Investment Co., which will enhance its vocational education offerings in Hunan [4]. - The company is also focusing on building a network of bookstores to promote reading culture, with plans to open over 100 stores in more than 20 cities within five years [2][3].

Investment Rating - The report maintains a "Recommended" rating for the company [5]. Core Views - The company has entered an expansion phase, with a focus on the upcoming peak season's performance. The revenue for the first three quarters reached 2.25 billion, a year-on-year increase of 25.3%, while the net profit attributable to shareholders was 176 million, up 50.2% year-on-year [1]. - In Q3, the company achieved revenue of 630 million, a year-on-year increase of 15.7%, but the net profit attributable to shareholders decreased by 49.7% to 14 million, primarily due to operational expansion and stock incentive expenses [1]. - The company is accelerating its capacity expansion, with right-of-use assets increasing by 50% compared to the beginning of the year [1]. - The ongoing transformation towards vocational education is expected to gradually contribute to incremental growth, with the company completing an investment in a vocational college [2]. - The growth logic of the company is clear, benefiting from strong trends in personalized education and the dual demand for further education and employment [2]. Financial Summary - The company forecasts revenue of 2.94 billion for 2024, with a growth rate of 32.82%, and net profit of 215 million, reflecting a profit growth rate of 39.99% [4]. - The projected diluted EPS for 2024 is 1.75, with a PE ratio of 27.74 [4].

Investment Rating - The report maintains a "Buy" rating for the company [3]. Core Views - The company reported a steady revenue growth with a total revenue of 2.247 billion yuan for the first three quarters of 2024, representing a year-over-year increase of 25.29%. The net profit attributable to shareholders was 176 million yuan, up 50.16% year-over-year. Excluding stock payment impacts, the net profit reached 208 million yuan, reflecting a 77.55% increase year-over-year [1]. - The education business is expected to continue its growth trajectory, particularly in full-time education, with strong performance from its core high school personalized education business. The company anticipates a synergistic effect between its high school and full-time education businesses, supporting revenue growth throughout the year [1]. - The company has been actively repaying loans, reducing financial burdens and enhancing cash flow, which is expected to accelerate performance release [1]. - The expansion of learning centers is likely to improve market share, supported by favorable regulatory changes and a competitive landscape that benefits compliant operators [1]. - The vocational education segment is deepening its layout, with the first cohort of nearly 4,000 students enrolled in its newly acquired vocational college, indicating potential for rapid expansion and revenue growth [1]. Financial Summary - For 2024E, the company is projected to achieve a revenue of 2.7 billion yuan, with a year-over-year growth rate of 22%. The net profit is expected to reach 222 million yuan, reflecting a 44.2% increase year-over-year [2]. - The earnings per share (EPS) for 2024E is estimated at 1.80 yuan, with a price-to-earnings (P/E) ratio of 25.6 times [2]. - The company’s gross margin for the first three quarters of 2024 was 34.98%, and the net profit margin was 7.82%, indicating ongoing improvements in profitability [1]. Market Position and Strategy - The company operates over 300 personalized learning centers and several full-time schools, positioning itself well in the education sector. The regulatory environment is becoming more favorable for the education and training sector, which is expected to benefit the company’s growth [1]. - The strategic acquisition of vocational education institutions and partnerships with colleges is expected to enhance the company's offerings and market presence [1].

关于无法与独立董事取得联系的提示性公告 特此公告。 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 近日，学大（厦门）教育科技集团股份有限公司（以下简称"公司"）工作人员 连续采用电话、微信、邮件等方式均无法与独立董事杨农先生取得联系，截至本公 告披露日，尚不能确定无法与杨农先生取得联系的具体原因。 杨农先生目前担任公司第十届董事会独立董事、董事会审议委员会委员、董事 会战略委员会委员，除此此外，不担任公司其他任何职务，不属于具有会计背景的 独立董事，不参与公司日常生产经营管理工作。截至目前其已缺席一次董事会会议， 亦未委托其他独立董事代为出席，根据《上市公司独立董事管理办法》及《深圳证 券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》的规定，公司 董事会将会采取提请股东大会审议改聘独立董事的措施。 截至本公告披露日，公司董事会仍有 6 名董事正常履职，其中独立董事 2 名。 独立董事杨农先生无法取得联系事项不会导致公司董事会成员低于法定最低人数， 不会对公司董事会的运作和公司的经营产生重大影响，公司的经营管理一切正常。 公司将密切关注上述事项 ...

学大（厦门）教育科技集团股份有限公司 关于聘任财务负责人及副总经理的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 经学大（厦门）教育科技集团股份有限公司（以下简称"公司"）总经理提 名，并经公司董事会提名委员会、董事会审计委员会会议审查通过，公司于 2024 年 10 月 28 日召开了第十届董事会第十九次会议，审议通过《关于聘任公司财务 负责人及副总经理的议案》，同意聘任李玉玲女士为公司财务负责人、副总经理， 同意聘任吕媛女士、崔志勇先生为公司副总经理。任期均自本次董事会审议通过 之日起至第十届董事会任期届满日止。 上述高级管理人员具备履职所需要的专业知识和工作经验，其任职资格符合 担任公司高级管理人员的条件，不存在《公司法》《深圳证券交易所股票上市规 则》等规定的禁止担任高级管理人员职务的情形。 证券代码：000526 证券简称：学大教育 公告编号：2024-085 上述高级管理人员的简历请详见公司刊载于指定信息披露媒体的《第十届董 事会第十九次会议决议公告》（公告编号：2024-083 号）。 特此公告。 学大（厦门）教育科技集团股份有限公司 董 ...

学大（厦门）教育科技集团股份有限公司 关于职工代表监事辞职暨选举职工代表监事的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 证券代码：000526 证券简称：学大教育 公告编号：2024-088 附件：职工代表监事简历 二、关于公司选举职工代表监事的情况 为保证公司监事会正常运行，根据《公司法》《深圳证券交易所上市公司自 律监管指引第 1 号——主板上市公司规范运作》等法律法规、规范性文件及《公 司章程》的相关规定，公司于 2024 年 10 月 28 日下午召开职工代表大会，同意 选举刘彦平女士（简历详见附件）为第十届监事会职工代表监事，任期自本次职 工代表大会决议通过之日起至公司第十届监事会任期届满之日止。 特此公告。 学大（厦门）教育科技集团股份有限公司 监 事 会 2024 年 10 月 29 日 一、关于公司职工代表监事辞职的情况 学大（厦门）教育科技集团股份有限公司（以下简称"公司"）监事会于近 日收到职工代表监事汤文昊女士提交的书面辞职报告，汤文昊女士因个人工作安 排原因辞去公司职工代表监事职务，辞职后，继续担任公司证券事务经理。 汤文昊 ...