证券代码：000526 证券简称：学大教育 公告编号：2024-076 学大（厦门）教育科技集团股份有限公司 关于对外投资的补充公告 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。 学大（厦门）教育科技集团股份有限公司（以下简称"公司"）于 2024 年 8 月 29 日在《中国证券报》《证券时报》及巨潮资讯网披露了《关于对外投资的 公告》（公告编号：2024-070），公司下属全资子公司北京学大信息技术集团有 限公司（以下简称"学大信息"）或公司指定的其他全资子公司拟与相关各方签 订《股权转让协议》《举办者公司合作协议》，逐步出资持有岳阳育盛教育投资有 限公司（以下简称"岳阳育盛"或"目标公司"）90%股权，并实现间接持有岳 阳现代服务职业学院（为一所非营利性全日制民办高等职业学校，以下简称"高 职学校"）90%的举办者权益，交易对价合计为 21,420 万元人民币。此外，学大 信息拟以货币出资人民币 160 万元与岳阳育盛现有股东岳阳鸿盛建设有限公司 （以下简称"岳阳鸿盛"）共同设立有限责任公司（以下简称"服务公司"），为 高职学校的办学及日常经营管理提供 ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price not specified [2][4]. Core Views - The company has shown rapid improvement in profitability, with Q2 2024 revenue reaching 910 million RMB, a 25% year-on-year increase, and net profit of 110 million RMB, up 33% year-on-year [2]. - For the first half of 2024, the company reported revenue of 1.62 billion RMB, a 29% increase, and net profit of 162 million RMB, an 82% increase year-on-year [2]. - The company is actively repaying debts, having repaid 220 million RMB in principal during the first half of 2024 [2]. - The company is expanding its business by acquiring a 90% stake in Yueyang Modern Service Vocational College for 214 million RMB, which will enhance its vocational education offerings [3]. Financial Performance Summary - The company reported a revenue of 1.8 billion RMB in 2022, which is expected to grow to 2.88 billion RMB in 2024, reflecting a growth rate of 30.16% [5]. - The net profit for 2022 was 10.89 million RMB, projected to increase to 260.26 million RMB by 2024, showing a growth rate of 69.24% [5]. - The company's gross margin for the first half of 2024 was 36%, an increase of 1 percentage point year-on-year [2]. Business Segmentation - The revenue from personalized education (traditional campuses) in the first half of 2024 was 1.32 billion RMB, a 29.3% increase [2]. - Full-time education revenue reached 230 million RMB, up 23.7%, while vocational education revenue was 20.83 million RMB, a 48.97% increase [2]. - The company operates over 240 personalized learning centers across 100 cities, leveraging a hybrid online-offline teaching model [4]. Financial Projections - The company forecasts net profits of 260 million RMB, 350 million RMB, and 460 million RMB for 2024, 2025, and 2026 respectively, with corresponding P/E ratios of 26X, 19X, and 15X [4]. - The total assets are projected to grow from 3.18 billion RMB in 2022 to 4.26 billion RMB by 2026 [6]. Cash Flow Analysis - The operating cash flow for 2023 was reported at 607.39 million RMB, with a projected increase to 444.60 million RMB in 2024 [7]. - The company has shown a significant improvement in cash flow management, with a net cash increase projected for the coming years [7].

证券代码：000526 证券简称：学大教育 公告编号：2024-075 学大（厦门）教育科技集团股份有限公司 关于副总经理辞职的公告 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。 董 事 会 2024 年 8 月 31 日 刁月霞女士原任期为 2022 年 4 月 19 日至公司第十届董事会任期届满日止。 截至本公告披露之日，刁月霞女士持有公司股票的数量为 50,000 股，包括已获 授但尚未解除限售的限制性股票 35,000 股，该部分限制性股票将按照与公司签 署的《2023 年限制性股票激励计划首次授予协议书》的相关约定执行。 刁月霞女士辞职后将继续遵守《上市公司董事、监事和高级管理人员所持本 公司股份及其变动管理规则》《深圳证券交易所上市公司自律监管指引第 18 号— —股东及董事、监事、高级管理人员减持股份》等法律法规和业务规则的相关规 定。 公司董事会对刁月霞女士任职期间所做贡献表示衷心感谢。 特此公告。 学大（厦门）教育科技集团股份有限公司 学大（厦门）教育科技集团股份有限公司（以下简称"公司"）董事会于近 日收到副总经理刁月霞女士提交的书面辞职 ...

Investment Rating - The report maintains a "Buy" rating for XueDa Education (000526 SZ) with expected net profits of 280 million, 420 million, and 520 million RMB for 2024-2026, corresponding to P/E ratios of 25X, 16X, and 13X respectively [2][7] Core Business and Competitive Advantages - XueDa Education is a pioneer and leader in personalized education in China, with businesses spanning K12 tutoring, bilingual schools, and vocational education [2][3] - The company has strong competitive advantages in product offerings, nationwide channel coverage, brand reputation, and management experience [5] - XueDa operates over 200 learning centers across 100+ cities and has 30+ full-time training bases, along with 3 bilingual schools [24] Industry Analysis - The K12 tutoring industry has undergone significant changes, shifting from talent selection to talent classification, with reduced competition and resource waste [4] - Post-double reduction policy, the industry has seen a supply-side clearing, with 92% of offline and 87% of online institutions exiting the market [46] - The policy environment has become clearer, with non-academic training gaining recognition as a supplement to school education [59][60] Growth Prospects - XueDa will continue to focus on personalized education and explore vocational education opportunities [6] - The company plans to expand by increasing learning center density in existing cities, with a focus on high school tutoring [6] - Financial performance is expected to improve with revenue growth, cost control, and reduced interest expenses [6] Financial Performance - XueDa's revenue and profits returned to growth in 2023 after adjustments to the double reduction policy and pandemic impacts [36] - The company has been actively reducing its debt-to-asset ratio, with remaining debt of 399 million RMB as of May 2024 [42] - Operating cash flow has shown strong growth since the second half of 2023 [39] Market Position and Strategy - XueDa has maintained its leadership in personalized education while expanding into vocational education, cultural reading, and medical-education integration [23] - The company has developed a comprehensive personalized service process and product system, with mature teacher selection and training processes [65][66] - XueDa's brand recognition and consumer trust have been built over 22 years of operation, with over 2 million students served [71][72]

岳阳育盛教育投资有限公司 | 一、审计报告 | | 1—3 | 页 | | --- | --- | --- | --- | | 二、审计报告附件 | | | | | 1、 | 资产负债表 | 4—5 | 页 | | 2、 | 利润表 | 6 | 页 | | 3、 | 现金流量表 | 7 | 页 | | 4、 | 所有者权益变动表 | 8—9 | 页 | 5、 财务报表附注 10—39 页 审 计 报 告 华舸审字[2024]第 00154 号 北京学大信息技术集团有限公司： 一、审计意见 我们接受贵公司委托，对岳阳育盛教育投资有限公司（以下简称"岳阳育盛 教育"）我们进行财务报表审计，包括 2024 年 4 月 30 日、2023 年 12 月 31 日的资 产负债表，2024 年 1 月-4 月、2023 年 11 月 6 日（公司成立日）至 2023 年 12 月 31 日止期间的利润表、现金流量表、所有者权益变动表以及相关财务报表附注。 2023 年 11 月 6 日（公司成立日）至 2024 年 4 月 30 日止期间 财务报表审计报告 目 录 我们认为，后附的财务报表在所有重大方面按照企业会计准则的 ...

中邮证券有限责任公司 关于学大(厦门)教育科技集团股份有限公司 变更募集资金用途的核查意见 中邮证券有限责任公司(以下简称"中邮证券"或"保荐机构")作为学 大(厦门)教育科技集团股份有限公司(以下简称"学大教育"或"公司")非 公开发行股票的持续督导机构,根据《证券发行上市保荐业务管理办法》《深圳 证券交易所股票上市规则》《上市公司监管指引第2号 -- 上市公司募集资金管 理和使用的监管要求》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》等相关法律、法规和规范性文件的规定,对公司变更募集 资金用途事项进行了核查,相关情况如下: 一、变更募集资金投资项目的概述 (一) 募集资金基本情况 经中国证券监督管理委员会证监许可[2020]3384 号文核准,并经深圳证券交 易所同意,公司于 2021 年 2 月 8 日向特定投资者非公开发行普通股(A 股)股 票 2,156.7602 万股,每股面值 1 元,每股发行价人民币 38.53 元。截至 2021 年 2 月 8 日,公司共募集资金 830,999,705.06元,扣除发行费用 8,685,227.94 元,募 集资金净额 82 ...

证券代码：000526 证券简称：学大教育 公告编号：2024-070 学大（厦门）教育科技集团股份有限公司 关于对外投资的公告 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。 一、对外投资概述 (一) 本次交易基本情况 （二）审议表决程序 公司于 2024 年 8 月 27 日召开第十届董事会第十八次会议审议通过了《关于 对外投资的议案》，会议表决结果为 7 票同意、0 票反对、0 票弃权。本次交易尚 需获得公司股东会的批准。 二、协议签署方介绍 学大信息拟与相关各方签署《股权转让协议》《举办者公司合作协议》及《服 务公司合作协议》。签署方基本情况如下： 1、岳阳永高教育投资有限公司基本情况 公司名称：岳阳永高教育投资有限公司 统一社会信用代码：91430600MAD3X7QR96 近年来，我国高等职业教育蓬勃发展，为现代化建设培养了大量高素质技能 型专门人才，国家在职业教育领域政策不断出台，鼓励行业企业积极参与院校办 学，促进高等职业院校整体办学水平的提升，逐步形成结构合理、功能完善、质 量优良、特色鲜明的高等职业教育体系。学大（厦门）教育科技集团股份有限 ...

经中国证券监督管理委员会证监许可[2020]3384 号文核准，并经深圳证券 交易所同意，公司于 2021 年 2 月 8 日向特定投资者非公开发行普通股（A 股） 股票 2,156.7602 万股，每股面值 1 元，每股发行价人民币 38.53 元。截至 2021 年 2 月 8 日止，本公司共募集资金 830,999,705.06 元，扣除发行费用 8,685,227.94 元，募集资金净额 822,314,477.12 元。截至 2021 年 2 月 9 日， 本公司上述发行募集的资金已全部到位，业经大华会计师事务所(特殊普通合伙) 以"大华验字[2021]000095 号"验资报告验证确认。公司对募集资金采取了专户 存储制度，并与保荐机构、存放募集资金的商业银行签订了监管协议。 证券代码：000526 证券简称：学大教育 公告编号：2024-071 学大（厦门）教育科技集团股份有限公司 关于变更募集资金用途的公告 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。 学大（厦门）教育科技集团股份有限公司（以下简称"公司"或"学大教 育"）于 2024 年 8 ...

本资产评估报告依据中国资产评估准则编制 北京学大信息技术集团有限公司拟收购举办者权益事宜涉及的 岳阳现代服务职业学院举办者全部权益市场价值 资产评估报告 中同华(粤)评报字(2024)第 029号 中同华(广州)资产评估 China Alliance (Guangzh Appraisal Co 报告日期: 二〇二四年八月一日 地址:广东省广州市越秀区小北 187 号鹏源发展大厦 903 室 邮编:510045 电话:020-83543892 北京学大信息技术集团有限公司拟收购举办者权益事宜涉及的岳阳现代服务职业学院举办者全部权益市场价值资产评估报告 目录 | 声明 . | | | --- | --- | | 摘要 . | | | 正文 5 | | | 1 | 委托人、被评估单位和合同约定的其他资产评估报告使用人概况 ... 5 | | (-) | 委托人概况 5 | | (二) | 被评估单位概况 | | (三) | 委托人与被评估单位的关系 | | (四) | 资产评估委托合同约定的其他资产评估报告使用人 | | 评估目的 . | | | = = | 评估对象和评估范围 | | 四、 | 价值类型 | | ...

Financial Performance - The company's operating revenue for the first half of 2024 reached ¥1,619,913,883.04, representing a 29.43% increase compared to ¥1,251,543,738.87 in the same period last year[11]. - Net profit attributable to shareholders was ¥161,542,253.01, up 81.82% from ¥88,845,709.96 year-on-year[11]. - Basic earnings per share increased by 81.84% to ¥1.3718, compared to ¥0.7544 in the previous year[11]. - The company reported a significant increase in net profit after excluding non-recurring gains and losses, reaching ¥178,026,075.52, which is a 72.20% increase year-on-year[11]. - The company achieved a revenue of RMB 1.62 billion in the first half of the year, representing a growth of 29.43% year-over-year, and a net profit of RMB 1.62 billion, which is an increase of 81.82% year-over-year[22]. - The personalized education revenue from traditional campuses reached RMB 1.32 billion, up 29.34% year-over-year, while full-time education revenue grew to RMB 226 million, an increase of 23.68% year-over-year[22]. - The company reported a net loss of CNY 227,314,016.14, an improvement from a loss of CNY 388,856,269.15 in the previous period[101]. - The company reported a total comprehensive income of CNY -60,906,341.02 for the current period, indicating a significant loss[124]. Assets and Liabilities - The total assets of the company at the end of the reporting period were ¥3,376,909,347.66, a 7.13% increase from ¥3,152,300,829.06 at the end of the previous year[11]. - The total liabilities amounted to CNY 2,609,733,308.27, up from CNY 2,562,518,275.57, indicating a growth of approximately 1.8%[101]. - The company's total equity increased to CNY 767,176,039.39 from CNY 589,782,553.49, reflecting a significant rise of about 30.1%[101]. - The total cash and cash equivalents at the end of the first half of 2024 stood at 17,316,765.20 CNY, compared to 303,289,358.16 CNY at the end of the first half of 2023[111]. - The total number of shares issued by the company is 12,322,470.9 shares as of June 30, 2024[125]. Cash Flow - The net cash flow from operating activities was ¥224,569,069.06, a decrease of 4.58% from ¥235,342,287.43 in the same period last year[11]. - The cash flow from operating activities showed a positive trend, indicating improved liquidity management[100]. - The total cash inflow from operating activities was 18,012,217.94 CNY, a significant increase from 1,489,189.11 CNY in the same period last year[111]. - The net cash flow from financing activities was -4,071,904.00 CNY, a decrease from 557,885.26 CNY in the previous year[111]. Investment and R&D - Investment in R&D for new educational technologies increased by 25% compared to the previous year, totaling 300 million RMB[21]. - Research and development expenses rose to ¥16,919,343.54, an increase of 44.5% compared to ¥11,700,822.91 in the previous year[105]. - The company plans to focus on expanding its market presence and investing in new technologies to enhance its competitive edge[100]. Regulatory Environment and Market Position - The regulatory environment for off-campus training has been strengthened, with new policies aimed at enhancing financial management and operational standards in the industry[16]. - The company is positioned to benefit from the ongoing reforms in vocational education, which emphasize the integration of education and industry[18]. - The company is actively monitoring the evolving regulatory landscape, which aims to balance the rights and obligations of various stakeholders in the education sector[17]. - The company anticipates that the ongoing reforms in the education sector will enhance its operational framework and market positioning[16]. Risk Management - The company is facing various operational risks and has outlined corresponding measures in its risk management section[2]. - The company has established a risk management system to address uncertainties in new business operations[49]. Shareholder and Governance - The company plans to not distribute cash dividends or issue bonus shares for this reporting period[2]. - The company held its annual general meeting on May 21, 2024, with an investor participation rate of 27.16%[52]. - The company has elected new board members, including Jin Xin as chairman on April 25, 2024, following the resignation of Wu Shengwu[53]. Subsidiaries and Acquisitions - The company completed the acquisition of Shenyang International Business School and has also acquired Dongguan Dingwen Vocational Technical School and Dalian Tongcai Vocational Technical School[24]. - Xueda Education Group, a subsidiary, reported total assets of CNY 1,521,038,842.84 and a net profit of CNY 94,231,863.50 during the reporting period[47]. Employee and Labor Practices - The company has established a comprehensive salary management and performance evaluation system to enhance employee welfare and development[60]. - The company has actively complied with various labor laws to protect employee rights and interests[60]. Environmental and Legal Compliance - The company reported no environmental penalties during the reporting period, indicating compliance with environmental regulations[58]. - There were no significant lawsuits or arbitration matters reported during the period, reflecting a stable legal standing[61]. Financial Management - The company has a diversified portfolio of entrusted financial products with multiple banks, including CITIC Bank and Minsheng Bank[79]. - The company recognizes expected liabilities based on the best estimate of expenditures required to fulfill current obligations, considering risks and uncertainties[197].