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]

Group 1: Company Overview - Sheng Tong Printing Co., Ltd. is involved in the education sector through its investment in the brand "Mai Ge Sen," which targets youth aged 3-18 with a customer price of approximately 20,000 yuan [2] - Mai Ge Sen has established 23 direct-operated locations across major cities including Beijing, Tianjin, and Guangzhou, with around 7,000 students currently enrolled [3] Group 2: Business Performance - Mai Ge Sen boasts a renewal rate exceeding 85%, indicating strong customer retention [3] - The company sees significant growth potential in second and third-tier cities, suggesting that the profitability ceiling is still far off [3] Group 3: Product and Market Positioning - The pricing for Lego-based training services ranges from 10,000 to 13,000 yuan, while the company's product "Le Bo" is priced between 6,000 and 7,500 yuan, positioning it as a mid-range offering [4] - Le Bo's sales expense ratio is around 7%-8%, with marketing efforts primarily focused on referrals and offline promotions, indicating a low reliance on internet marketing [4] Group 4: Operational Insights - Direct-operated stores incur costs mainly from teacher salaries, rent, and teaching materials, while franchise stores focus on franchise fees and equipment [4] - Each store typically employs 6 teachers, 2 administrative staff, 2 sales personnel, and 1 principal, with average teacher salaries ranging from 5,000 to 6,000 yuan [4] Group 5: Future Strategies - Post-acquisition, Le Bo's management has been integrated into Sheng Tong's financial system, with plans to expand its B2B business and implement equity incentives for key personnel [5] - The company currently holds over 200 million yuan in cash and may consider issuing shares for larger investment opportunities [5] Group 6: Industry Trends - The publishing market is experiencing diversification with a trend towards smaller print runs, leading to a more fragmented industry, while the printing sector is moving towards consolidation and scale [5] - Sheng Tong aims to enhance its main business profits by providing comprehensive supply chain services and solutions based on capacity management and raw materials [5]

证券代码：002599 证券简称：盛通股份 编号：2018003 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 | 东方证券资管 | | 王焯 华创证券 徐呈隽、桑梓 | | 员姓名 | 五矿资本 苏灵 中山证券 张国平 | | | | | 九州证券 岳志强 超赢投资 李红 | | | | | 世纪华中 栾天 文广资本 游雅婕 | | | | 时间 | 2018 年 3 月 14 | 日 | | | 地点 ...