Group 1 - On January 27, brokerages set target prices for listed companies with notable increases for Changyuan Donggu, Hongyuan Green Energy, and Haotaitai, with target price increases of 50.61%, 42.37%, and 30.60% respectively, belonging to the automotive parts, photovoltaic equipment, and home goods industries [2][3] - A total of 29 listed companies received brokerage recommendations on January 27, with Tonghua Dongbao, Zhibang Home, and Yanjing Beer receiving one recommendation each [3] Group 2 - On January 27, one company had its rating upgraded, with Xinda Securities raising Xueda Education's rating from "Hold" to "Buy" [4][5] - Five companies received initial coverage on January 27, including Taihe New Materials with an "Accumulate" rating from Northeast Securities, Kelike with an "Outperform" rating from Guosen Securities, Tianyi Medical with a "Buy" rating from Xinda Securities, Xinhenghui with an "Accumulate" rating from Zhongyou Securities, and Tuojing Technology with a "Buy" rating from Donghai Securities [6]

Investment Rating - The investment rating for the company is upgraded to "Buy" from "Hold" [3] Core Insights - The company plans to invest up to 35 million yuan in Jiangyin Qixin Linghang through a newly established partnership, acquiring a 6.48% stake [3] - Jiangyin Qixin Linghang is in its cultivation and development stage, with projected revenues of 51.71 million yuan in 2024 and 29.10 million yuan in the first three quarters of 2025, alongside net losses of 36.03 million yuan and 12.91 million yuan respectively [3] - The investment is expected to benefit from the domestic substitution boom in the EDA industry, where U.S. companies dominate with a combined market share of 74% globally and over 80% in the domestic market [3] - The founding team of Qixin Linghang has over 20 years of experience in EDA, which positions the company well for industrialization in this sector [3] - The partnership is anticipated to create synergies in vocational education within the EDA field, leveraging the company's extensive network and resources in vocational training [3] Financial Summary - Total revenue is projected to grow from 2,213 million yuan in 2023 to 4,931 million yuan in 2027, with a compound annual growth rate (CAGR) of 19.2% [4] - Net profit attributable to the parent company is expected to increase significantly from 154 million yuan in 2023 to 345 million yuan in 2027, reflecting a growth rate of 1035.2% in 2024 [4] - The company's EPS is forecasted to rise from 1.26 yuan in 2023 to 2.83 yuan in 2027, with corresponding P/E ratios decreasing from 31.28 to 13.95 [4]

Market Overview - The education sector increased by 0.38% on January 27, with Kevin Education leading the gains [1] - The Shanghai Composite Index closed at 4139.9, up 0.18%, while the Shenzhen Component Index closed at 14329.91, up 0.09% [1] Individual Stock Performance - Kevin Education (002659) closed at 6.80, up 4.62%, with a trading volume of 898,000 shares and a transaction value of 614 million yuan [1] - Zhonggong Education (002607) closed at 2.98, up 2.41%, with a trading volume of 2.93 million shares and a transaction value of 867 million yuan [1] - ST Kaiyuan (300338) closed at 3.60, up 2.27%, with a trading volume of 136,600 shares and a transaction value of 49.43 million yuan [1] - Other notable performances include BoRui Communication (600880) at 6.09, up 1.16%, and DouShen Education (300010) at 7.53, up 0.94% [1] Capital Flow Analysis - The education sector saw a net inflow of 25.29 million yuan from institutional investors, while retail investors experienced a net outflow of 72.54 million yuan [2] - The overall net inflow from speculative funds was 47.25 million yuan [2] Detailed Capital Flow for Selected Stocks - Zhonggong Education had a net inflow of 85.63 million yuan from institutional investors, while retail investors had a net outflow of 61.83 million yuan [3] - Kevin Education experienced a net inflow of 63.58 million yuan from institutional investors, with a significant retail outflow of 93.13 million yuan [3] - ST Kaiyuan had a minor net inflow of 2.81 million yuan from institutional investors, with retail investors also experiencing a net outflow [3]

Investment Rating - The investment rating for Xueda Education (000526) is upgraded to "Buy" from "Hold" [3] Core Insights - The investment in Jiangyin Qixin Linghang is expected to enhance the company's position in the EDA industry, which is experiencing a domestic substitution boom. The investment amount is capped at 35 million yuan for a 6.48% stake [3] - Qixin Linghang's revenue for 2024 and the first three quarters of 2025 is projected at 29.1 million yuan and 51.71 million yuan respectively, with net losses of 1.291 million yuan and 3.603 million yuan [3] - The collaboration between Xueda Education and Qixin Linghang is anticipated to create synergies in vocational education within the EDA field, leveraging Xueda's extensive network and resources [3] Financial Summary - Total revenue is projected to grow from 2,213 million yuan in 2023 to 4,931 million yuan in 2027, with a compound annual growth rate (CAGR) of 19.2% [4] - Net profit attributable to the parent company is expected to increase significantly from 154 million yuan in 2023 to 345 million yuan in 2027, reflecting a growth rate of 1035.2% in 2024 [4] - The earnings per share (EPS) forecast for 2025, 2026, and 2027 is 1.97 yuan, 2.37 yuan, and 2.83 yuan respectively, with corresponding price-to-earnings (P/E) ratios of 20x, 17x, and 14x [4]

根据公告，拟新设的合伙企业为共青城学成启航创业投资合伙企业（有限合伙），其认缴出资额不超过 3610万元，专项投资于江阴启芯领航。参考评估结论并经协商，江阴启芯领航投前估值为5亿元。增资 款将主要用于标的公司的主营业务经营、市场拓展及归还银行贷款等用途。 公告称，该投资旨在把握EDA（电子设计自动化）赛道国产替代的重要机遇，拓展集成电路产业相关 的职业教育场景，从而丰富公司职业教育业务的产业内涵，培育新的业绩增长点，提升公司综合竞争力 与长期发展潜力。 中证智能财讯学大教育（000526）1月27日公告，为拓展战略业务，公司拟通过全资子公司北京学大信 息技术集团有限公司，以新设合伙企业的方式向专注于EDA工具与半导体IP研发的江阴启芯领航半导体 有限公司增资。本次投资金额不超过3500万元，投资完成后预计持有江阴启芯领航6.4791%的股权。 公告显示，学大教育作为深耕教育领域20余年的上市公司，在职业教育领域已构建成熟的运营体系，拥 有全国布局的产业学院教学点、标准化的课程与管理体系以及广泛的生源渠道。本次投资后，启芯领航 将为双方合作提供EDA领域核心实训资源支撑，包括协助搭建课程体系、提供FPGA云实训 ...

格隆汇1月26日丨学大教育(000526.SZ)公布，为拓展战略业务发展空间，积极顺应国家新兴产业导向和 打造高技能人才教育新场景，拟通过全资子公司北京学大信息技术集团有限公司（简称"学大信息"）以 新设合伙企业的方式，向专注EDA工具与半导体IP研发的江阴启芯领航半导体有限公司（简称"江阴启 芯领航""投资标的"）进行增资，预计新设合伙企业认缴出资额不超过人民币3,610万元，向江阴启芯领 航增资金额不超过人民币3,500万元，投资完成后预计持有江阴启芯领航股权6.4791%。其中，新设合伙 企业及投资江阴启芯领航涉及关联交易。 ...

（记者 王晓波） 每经AI快讯，学大教育1月26日晚间发布公告称，公司第十一届第五次董事会会议于2026年1月26日在 北京市朝阳区樱辉科技中心学大教育会议室以现场结合通讯方式召开。会议审议了《关于聘任财务负责 人的议案》等文件。 每经头条（nbdtoutiao）——国际金价冲破5000美元！7年涨了280%，什么时候才见顶？专家：关键还 看美元，重点关注国际货币体系、降息和科技革命 免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自担。 每日经济新闻 ...

南财智讯1月26日电，学大教育公告，公司董事会于近日收到副总经理、财务负责人李玉玲女士提交的 书面辞职报告，李玉玲女士因个人工作安排原因辞去公司副总经理、财务负责人职务，其辞职事项自辞 职报告送达董事会时生效。辞职后，李玉玲女士不再担任公司及控股子公司任何职务。 ...

本报 告 依据 中 国资 产评 估 准则 编 制 学大(厦门)教育科技集团股份有限公司拟增资 所涉及的江阴启芯领航半导体有限公司 股东全部权益 资 产 评 估 报 告 中联沪评字【2025】第 109 号 共二册，第一册 中联资产评估咨询（上海）有限公司 二〇二五年十二月三十一日 | 报告编码: | 3131210012202600001 | | | | --- | --- | --- | --- | | 合同编号: | 25660076A | | | | 报告类型: | 法定评估业务资产评估报告 | | | | 报告文号: | 中联沪评字 2025 第109号 | | | | 报告名称: | 学大(厦门)教育科技集团股份有限公司拟增资所涉及的江阴启芯 领航半导体有限公司股东全部权益 | | | | 评估结论: | 522,369,700.00元 | | | | 评估报告日 : | 2025年12月31日 | | | | 评估机构名称: | 中联资产评估咨询(上海)有限公司 | | | | 签名人员: | 余海波 (资产评估师) | | 正式会员 编号:32180135 | | | 陈炜聪 | (资产评估师) ...

地址：北京市丰台区丽泽路 16 号聚杰金融大厦 12 楼 邮编：100073 电话：(010) 63357658 北京澄宇会计师事务所(特殊普通合伙) BEIJING CHENGYU CERTIFIED PUBLIC ACCOUNTANTS LLP 江阴启芯领航半导体有限公司 2025年9月30日 审计报告 目 录 | 一、审计报告 | 1-3 | | --- | --- | | 二、已审财务报表 | | | 5．资产负债表 | 4-5 | | 6．利润表 | 6 | | 7．现金流量表 | 7 | | 8．所有者（股东）权益变动表 | 8-9 | | 9．财务报表附注 | 10-38 | 审计报告 澄宇专字( 2025 )第0057号 江阴启芯领航半导体有限公司全体股东： 一、审计意见 我们审计了江阴启芯领航半导体有限公司（以下简称江阴启芯）财务报 表，包括 2025 年 9 月 30 日的合并资产负债表，2025 年度 1-9 月的合并利润 表、合并现金流量表、合并股东权益变动表以及相关财务报表附注。 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规定编 制，公允反映了江阴启芯 2025 年 9 ...