Group 1: Company Overview and Strategy - The company emphasizes its commitment to the education sector, planning to invest more capital and resources in the future [3] - The acquisition strategy focuses on integrating quality educational resources and expanding in the STEAM education sector [3] - The company aims to leverage its existing educational publishing business to enhance its market position [3] Group 2: Market Analysis and Competitors - The chairman of LeBo Education highlighted the market size of robotics education and identified key competitors and industry barriers [3] - LeBo Education's core competencies and strategic advantages were discussed, emphasizing the trust and resource support from the partnership with ShengTong [3] Group 3: Financial Insights and Projections - Franchise stores can achieve profitability with 100-150 students, while direct-operated campuses generate revenue between 200,000 to 250,000 [4] - LeBo Education plans to open 23-24 new campuses annually, with an average cost of 300,000 to 500,000 per new location [4] - The company will slow its expansion pace by 2019, focusing on operational efficiency and synergy with existing businesses [4] Group 4: Future Directions and Online Strategy - The company currently prioritizes offline expansion, with online education not seen as a necessity for K12 education [4] - Future considerations for online business development are acknowledged, but the focus remains on physical locations for the time being [4] Group 5: M&A Fund and Investment Focus - The internal M&A team consists of 5 members, while the industry fund has 3 dedicated personnel, focusing on a broader range of educational targets [5] - The company is exploring international markets, particularly in the U.S. and South Korea, for quality educational resources [5] - The investment strategy will include both acquisition and equity participation in various educational projects [5]

Group 1: Company Strategy and Development - The company has strategically chosen to enter the education sector after extensive planning and consideration, aiming to leverage its established relationships with well-known publishers to create synergies with its main business [2][3] - The company anticipates stable growth in its main business over the next few years, having adjusted its production capacity to increase the proportion of children's books and educational materials [3] Group 2: Cloud Printing and Platform Projects - The cloud printing service is designed to provide rapid online printing services, primarily targeting small businesses and individuals, while the cloud platform project aims to connect various stakeholders in the publishing industry through a comprehensive service platform [3][4] - The cloud printing focuses on commercial printing, whereas the cloud platform extends to the entire publishing industry supply chain, enhancing information, logistics, and financial flows [4] Group 3: Financial and Operational Insights - The rental cost for Lebo stores in first-tier cities ranges from 200,000 to 300,000 CNY, with a focus on cost-effective locations; the current corporate tax rate for the company is 15%, while Lebo's is 25%, pending a reduction to 15% upon successful high-tech enterprise qualification [4] - Lebo's franchise fee varies between 50,000 to 300,000 CNY depending on the city, with limited plans for future expansion of franchise stores [4] Group 4: Government Subsidies - In 2015, the subsidiary Shanghai Shengtong Times Printing Co., Ltd. received a government subsidy of 35 million CNY, which is being amortized over the expected useful life of the project assets; the company has also received over 7 million CNY in government subsidies to date [4]

证券代码：002599 证券简称：盛通股份 北京盛通印刷股份有限公司投资者关系活动记录表 | --- | --- | --- | |-------------------------|-------------------------|----------------------------------------------------| | | | | | 投资者关系活动类 | ■ | 特定对象调研 □分析师会议 | | 别 | □ 媒体采访 □业绩说明会 | | | | □新闻发布会 □路演活动 | | | | □ 现场参观 | | | | □ | 其他 （请文字说明其他活动内容） | | 参与单位名称及人 员姓名 | 华安基金 王青雷 | | | 时间 | 2016 年 8 月 19 | 日 | | | | | | 地点 | | 北京盛通印刷股份有限公司四层会议室 | | 上市公司接待人员 | 董事会秘书 肖薇 | | | 姓名 | | | | 投资者关系活动主 | | 本次投资者调研活动主要情况如下： | | 要内容介绍 | 1 | 、问：公司云印刷业务及主要客户？ | | | 答: | 公司云印刷 ...

Group 1: Company Overview and Acquisition - Beijing Shengtong Printing Co., Ltd. announced the acquisition of 100% equity in Lebo Education for a price of 430 million CNY, along with raising 344.53 million CNY in supporting funds [4] - The acquisition received unconditional approval from the China Securities Regulatory Commission on November 10, 2016 [5] - Lebo Education is a leading company in children's robotics education, providing training services to approximately 40,000 students across 23 provinces in China [5] Group 2: Financial Projections and Performance - Lebo Education has committed to net profits of 24.58 million CNY, 32.30 million CNY, 40.67 million CNY, and 51.25 million CNY for the years 2016 to 2019, representing a compound annual growth rate of 27.8% [5] - The company operates 79 direct stores and 135 franchise stores, with a plan to expand by 10-20 new stores annually [7] Group 3: Market Position and Strategy - The robotics education market is described as a "blue ocean" with relatively low competition compared to traditional education sectors [6] - The company aims to leverage its platform as a publicly listed entity to enhance governance and facilitate business collaboration with Lebo [8] - Direct stores account for over 80% of Lebo's revenue, with a strategic plan to maintain a ratio of 1:2 between direct and franchise stores [9] Group 4: Future Development and Expansion - The company plans to expand its direct school locations to 117 by 2018, with a focus on maintaining a stable growth strategy [8] - Future product lines will include STEAM education materials, with ongoing partnerships for product development with international companies [10] - The average tuition fee is currently 6,000 CNY, with a potential 30% increase based on market comparisons [12]

Group 1: Company Overview - The company is Beijing Shengtong Printing Co., Ltd., with stock code 002599 [1] - The investor relations activity took place on December 9, 2016, in the company's conference room [2] Group 2: Business Performance - The company has opened 79 direct-operated stores and 136 franchise stores in 2016, aligning with its plans [3] - By 2019, the company aims to have 117 direct-operated stores and 260 franchise stores [3] Group 3: Financial Structure - Employee salaries account for approximately 45% of total costs, while rent constitutes about 15%, and the remaining 40% is for teaching materials and other expenses [4] - The company has a four-year lock-in period for 60 key management and core staff who participated in the fundraising [3] Group 4: Market Position and Strategy - The robot training market is estimated to be between 10 billion to 15 billion RMB, with around 13,000 training stores nationwide, and the company's market share is approximately 1% [4] - The company has invested in Korean LeBo, acquiring an 18% stake, with the Korean market share exceeding 50% [4] Group 5: Educational Trends and Policies - The Ministry of Education's guidelines indicate a growing emphasis on STEAM education and innovative teaching methods, with a focus on enhancing students' comprehensive abilities [5] - By 2019, the evaluation of students will increasingly consider comprehensive qualities rather than solely exam results, reflecting a shift in educational standards [6]

证券代码：002599 证券简称：盛通股份 北京盛通印刷股份有限公司投资者关系活动记录表 | --- | --- | --- | |------------------|-----------------------------|----------------------------------------------------| | | | | | 投资者关系活动类 | □ | 特定对象调研 □分析师会议 | | 别 | □ | 媒体采访 ■业绩说明会 | | | | □新闻发布会 □路演活动 | | | □ 现场参观 | | | | □ 其他 | | | 参与单位名称及人 | | 国金证券吴劲草、招商证券王光兵、工银瑞信袁文涛、中 | | 员姓名 | | 国证券报董文胜、证券时报马晨雨、中金公司丁民杰、中 | | | | 信建投丰毅、中信建投孙金琦、中信证券冯重光、中信建 | | | | 投宋兴达、方正证券姚蕾、太平洋证券朱璐、太平洋证券 | | | | 倪爽、广发证券汪达、广发证券杨艾莉、广发证券旷实、 | | | | 华创证券肖丽荣、天风证券张璐芳、民生证券赵汐雯、民 | | | | 生证券吴清羽 ...

证券代码：002599 证券简称：盛通股份 北京盛通印刷股份有限公司投资者关系活动记录表 | --- | --- | --- | |------------------|-----------------------------|----------------------------------------------------| | | | | | 投资者关系活动类 | □ | 特定对象调研 □分析师会议 | | 别 | □ | 媒体采访 ■业绩说明会 | | | | □新闻发布会 □路演活动 | | | □ 现场参观 | | | | □ 其他 | | | 参与单位名称及人 | | 国金证券吴劲草、招商证券王光兵、工银瑞信袁文涛、中 | | 员姓名 | | 国证券报董文胜、证券时报马晨雨、中金公司丁民杰、中 | | | | 信建投丰毅、中信建投孙金琦、中信证券冯重光、中信建 | | | | 投宋兴达、方正证券姚蕾、太平洋证券朱璐、太平洋证券 | | | | 倪爽、广发证券汪达、广发证券杨艾莉、广发证券旷实、 | | | | 华创证券肖丽荣、天风证券张璐芳、民生证券赵汐雯、民 | | | | 生证券吴清羽 ...

证券代码：002599 证券简称：盛通股份 北京盛通印刷股份有限公司投资者关系活动记录表 编号：2017001 | --- | --- | --- | |-----------------------|-------------------------|----------------------------------------------------| | | | | | 投资者关系活动类 | ■ | 特定对象调研 □分析师会议 | | 别 | □ | 媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | | | □ 现场参观 | | | | □ 其他 | | | 参与单位名称及人 | | 华创证券-石伟晶 民生证券-方方、陈柏儒 | | 员姓名 | | 中信建投-陈乐然 康曼德资本-段桂培 | | | 东方证券-江舟 | | | 时间 | 2017 年 1 月 11 | 日 | | 地点 | 盛通股份四层会议室 | | | 上市公司接待人员 姓名 | 董事会秘书 肖薇 | | | 投资者关系活动主 | | 本次投资者调研活动主要情况如下： | | 要内容介绍 | 1 | ．问：请问公司 ...

Group 1: Company Overview - The company is Beijing Shengtong Printing Co., Ltd., with the stock code 002599 [1] - The investor relations activity took place on September 7, 2017, at the Asian Games Village Library Building [2] Group 2: Business Model and Operations - Each LeBo Education store employs approximately 10 staff members, including 5-6 teachers and 1-2 administrative personnel [2] - The main customer acquisition channel is ground promotion, with online channels accounting for about 10% [4] - The average fee for a beginner course is around 7,000 RMB per year, covering 32 classes [4] Group 3: Financial Insights - Labor costs represent 40%-50% of a single store's maximum expenses, while rent accounts for 15%-20% [4] - The company expects to pay approximately 6 million USD for equipment procurement to the Korean LeBo this year [4] - New stores are projected to break even within two years [4] Group 4: Customer Retention and Staff Qualifications - The renewal rate for LeBo courses can reach 70%-80% [5] - 70% of LeBo teachers hold at least a bachelor's degree, with rigorous internal training for new course instructors [5] Group 5: Market Position and Future Plans - LeBo Education views LEGO products positively but believes it has advantages in channels and services [5] - The company is actively exploring opportunities in quality education sectors such as sports, arts, and music [5] - There are no current barriers to expanding B-end business, with ongoing diversification of product channels [6] Group 6: Franchise Management - Strict selection criteria are in place for franchisees, including financial strength and industry experience [6] - The company has mechanisms to manage franchisees, including training and oversight [6] - If a franchise does not perform well, the company offers a development period and may assist with transfer or buyback [6] Group 7: Store Distribution - Directly operated stores are located in urban areas of first and second-tier cities, while franchise stores are in suburban areas and third to fourth-tier cities [7] - Special classes are organized during summer and winter breaks, including domestic summer camps and international study tours [7]

Group 1: Company Performance - The company experienced significant revenue and profit growth due to the launch of the publishing service cloud platform, with a notable increase in the publishing services segment [1] - In 2017, the company benefited from national policies that promoted the rapid development of large-scale enterprises, enhancing its competitive advantage [2] Group 2: Education Business Insights - The age range for students in the LeBo education program is broad, covering ages 4 to 15, with a comprehensive curriculum that has been in use in South Korea for ten years [2] - The renewal rate for franchise stores is generally positive, with franchise fees expected to increase by approximately 15% upon contract expiration [2] - LeBo's direct stores are strategically located near schools, communities, and shopping malls, with rental costs accounting for about 10% of revenue [2] Group 3: Store Operations and Financials - Currently, there are 93 direct stores, with around 40 located in major cities like Beijing, Shanghai, Guangzhou, and Shenzhen, generating over 60% of total revenue [3] - The average revenue per store is approximately 2 million yuan, and new stores typically reach breakeven within 1 to 1.5 years [3] - Customer acquisition costs are low, primarily relying on offline activities and referrals, with refund rates below 5% [3] Group 4: Challenges and Future Outlook - The main challenge for LeBo is to balance healthy rapid growth with effective team management, as each new store requires about 10 employees [4]