第六条 在年审注册会计师出具初步审计意见后和审议年度报告的董事会会议召 开前，独立董事应当再次参加与年审注册会计师见面会，与注册会计师沟通初审意见。 独立董事应关注公司是否及时安排前述见面会并提供相关支持，并记入工作笔录。 中公教育科技股份有限公司 独立董事年报工作规程 （2025 年 11 月修订） 第一条 为进一步完善中公教育科技股份有限公司（以下简称"公司"）的治理机 制，加强内部控制制度的建设，夯实信息披露编制工作的基础，充分发挥独立董事在信 息披露方面的作用，根据《上市公司独立董事管理办法》《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》（以下简称"《自律监管指引第 1 号》"）、 《公司章程》、《公司独立董事任职及议事制度》、《公司信息披露事务管理制度》等有关 规定，特制定本工作规程。 第二条 独立董事应在公司年报编制和信息披露过程中切实履行独立董事的责任 和义务，勤勉尽责地开展工作，独立董事应当按照有关法律、行政法规、规范性文件和 公司章程的要求，认真履行职责，维护公司整体利益，尤其要关注中小股东的合法权益 不受损害。 第三条 独立董事应认真学习中国证监会、深圳证券交易 ...

中公教育科技股份有限公司 媒体来访和投资者调研接待工作管理制度 （2025 年 11 月修订） 第一章 总 则 第一条 为维护中公教育科技股份有限公司(以下简称"公司")和投资者的合法权 益，加强公司对外接待及与外界的交流和沟通，提高公司投资者关系管理水平，规范 中公教育科技股份有限公司对外接待行为，根据《中华人民共和国公司法》、《中华 人民共和国证券法》、《深圳证券交易所股票上市规则》（以下简称"《股票上市规 则》"）、《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、法规和规范性文件以及《中公教育科技股份有限公司公司章程》（以下 简称"《公司章程》"）、《中公教育科技股份有限公司信息披露事务管理制度》 （以下简称"《信息披露事务管理制度》"）、《中公教育科技股份有限公司投资者 关系管理制度》（以下简称"《投资者关系管理制度》"）的规定，结合公司实际， 特制定本制度。 第二条 本制度所述的投资者调研接待工作，是指公司通过接受投资者、媒体、证券机 构的调研、一对一沟通、一对多沟通、现场参观、分析师会议、路演和业绩说明会、新闻采 访等活动，增进资本市场对公司的了解和认同的工作。 第 ...

中公教育科技股份有限公司 董事和高级管理人员离职管理制度 （2025年11月制定） 第一章 总 则 第一条 为规范中公教育科技股份有限公司（以下简称"公司"）董事、高级 管理人员离职程序，保障公司治理结构的连续性和稳定性，维护公司及全体股东 的合法权益，根据《中华人民共和国公司法》 《中华人民共和国证券法》 《深 圳证券交易所股票上市规则》等相关法律、行政法规、部门规章及《公司章程》 的规定，结合公司实际情况，制定本制度。 第二条 本制度适用于公司董事（含独立董事）及高级管理人员因任期届满、 辞任、被解除职务或其他原因离职的情形。 第二章 离职情形与生效条件 第三条 董事可以在任期届满以前辞任。董事辞任应当向公司提交书面辞职 报告，公司收到辞职报告之日辞任生效，公司将在两个交易日内披露有关情况。 出现下列规定情形的，在改选出的董事就任前，原董事仍应当按照有关法律、 法规和公司章程的规定继续履行职责： （一）董事任期届满未及时改选，或者董事在任期内辞职导致董事会成员低 于法定最低人数； （二）审计委员会成员辞职导致审计委员会成员低于法定最低人数，或者欠 缺会计专业人士； （三）独立董事辞职导致公司董事会或者其专 ...

中公教育科技股份有限公司 章 程 二○二五年十一月 | | | | 第二节 内部审计 . | | --- | | 第三节 会计师事务所的聘任 | | 第九章 通知和公告 | | 第一节 通 知… | | 第二节 公 告 | | 第十章 合并、分立、增资、减资、解散和清算…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………… 50 | | 第一节 合并、分立、增资和减资 | | 第二节 解散和清算 . | | 第十一章 修改章程 | | 第十二章 附 则 …………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………… 54 | 中公教育科技股份有限公司 公司章程 第一章 总 则 第一条 为维护公司、股东、职工和债权人的合法权益，规范公司的组织和 行为，根据《中华人民共和国公司法》（以下简称《公司法》）、《中华人民共 和国证券法》（以下简称《证券法》）、 ...

中公教育科技股份有限公司 内部审计制度 （2025 年 11 月修订） 第一章 总 则 第一条 为进一步规范中公教育科技股份有限公司（以下简称"公司"）及其控股 公司、具有重大影响的参股公司的内部审计工作，提高内部审计工作质量，保护投资者 合法权益，依据《中华人民共和国审计法》《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》等有关法律、法规、规章、规范性文件和《中公教育 科技股份有限公司章程》（以下简称"《公司章程》"）规定，制定本制度。 第二条 本制度适用于对公司及控股子公司、具有重大影响的参股公司的财务管理、 会计核算和生产经营所进行的内部审计工作。本制度所称内部审计，是指由公司内部机 构或人员，对其内部控制和风险管理的有效性、财务信息的真实性和完整性以及经营活 动的效率和效果等开展的一种评价活动。 （三）保障公司资产的安全； （四）确保公司信息披露的真实、准确、完整和公平。 第四条 公司应当依照国家有关法律、法规、规章及规范性文件的规定，结合本公 司所处行业和生产经营特点，建立健全内部审计制度，防范和控制公司风险，增强公司 信息披露的可靠性。 第五条 公司董事会应当对内部控制制度 ...

《中公教育科技股份有限公司章程》及其附件修订对照表 | | 法定代表人因为执行职务造成他人损害的，由 | | --- | --- | | | 公司承担民事责任。公司承担民事责任后，依 | | | 照法律或者本章程的规定，可以向有过错的法 | | | 定代表人追偿。 | | 第九条 公司全部资产分为等额股份，股东 | 第九条 股东以其认购的股份为限对公司承担 | | 以其认购的股份为限对公司承担责任，公司 | 责任，公司以其全部资产对公司的债务承担责 | | 以其全部资产对公司的债务承担责任。 | 任。 | | 第十五条 公司股份的发行，实行公开、公 | 第十五条 公司股份的发行，实行公开、公平、 | | 平、公正的原则，同种类的每一股份应当具 | | | 有同等权利。 | 公正的原则，同类别的每一股份具有同等权利。 | | | 同次发行的同类别股票，每股的发行条件和价 | | 同次发行的同种类股票，每股的发行条件和 | 格相同；认购人所认购的股份，每股支付相同 | | 价格应当相同；任何单位或者个人所认购的 | 价额。 | | 股份，每股应当支付相同价额。 | | | 第十六条 公司发行的股票，以人民币标明 ...

Market Overview - On Thursday, the Shanghai Composite Index rose by 1.0%, the CSI 300 increased by 1.4%, the STAR Market 50 surged by 3.3%, the CSI 1000 climbed by 1.2%, the ChiNext Index went up by 1.8%, and the Hang Seng Index gained 2.1% [5][6] - The best-performing sectors on Thursday included non-ferrous metals (+3.1%), electronics (+3.0%), telecommunications (+2.4%), basic chemicals (+2.0%), and automobiles (+1.8%). The worst-performing sectors were media (-1.4%), social services (-1.1%), retail (-1.0%), beauty and personal care (-0.5%), and banking (-0.4%) [5][6] - The total transaction amount in the Shanghai and Shenzhen markets on Thursday was 20,553 billion yuan, with a net inflow of 5.48 billion Hong Kong dollars from southbound funds [6] Important Recommendations Company Analysis: *ST He (002816) - The company is undergoing a strategic transformation and diversification, anticipating a recovery in profitability. The leading position in cleaning equipment is expected to benefit from the semiconductor business expansion [7] - Revenue projections for 2025-2027 are 273 million, 419 million, and 543 million yuan, with growth rates of 1010%, 54%, and 29% respectively. Net profit forecasts are 11.77 million, 53.39 million, and 87.16 million yuan, with growth rates of -354%, 63% [7] - Catalysts include the delivery of maskless lithography equipment and new equipment orders [7] Company Analysis: Jianfa Co. (600153) - Jianfa Co. is expected to experience a turnaround, with previously pessimistic market expectations regarding its joint venture and home furnishing business being challenged by new operational changes [8] - Revenue forecasts for 2025-2027 are 652,563 million, 672,826 million, and 697,093 million yuan, with growth rates of -6.95%, 3.11%, and 3.61%. Net profit projections are 2,286 million, 3,076 million, and 4,560 million yuan, with growth rates of -22.39%, 34.55%, and 48.26% [8] - Key drivers include changes in management and operational strategy [8] Important Insights Fixed Income Credit Bonds - The financial bond market has become the largest sector for non-bank institutional investment, showcasing higher market value due to its safety compared to interest rate bonds and liquidity of public bonds [10] - The likelihood of unexpected credit events in the future is considered low, and there is a detailed analysis of the investment value in niche financial sectors such as AMC, financial leasing, and commercial leasing [10] Media Industry Analysis - The proportion of heavy positions in media stocks rose to 4.66% in Q3 2025, an increase of 0.55 percentage points, significantly above the industry standard of 2.88% [11] - The top ten media heavy positions include Tencent, Kuaishou, Giant Network, and ST Huasheng, with notable increases in holdings for gaming-related stocks [11] - Investment opportunities are highlighted for ST Huasheng, which may expand significantly if it completes its delisting process [11]

Core Viewpoint - The education sector experienced a decline of 0.75% on November 6, with Chuangye Heima leading the drop. In contrast, the Shanghai Composite Index rose by 0.97% and the Shenzhen Component Index increased by 1.73% [1] Group 1: Market Performance - The education sector's performance was mixed, with individual stocks showing varied results. For instance, ST Dongshi rose by 4.86%, while Chuangye Heima fell by 3.07% [1][2] - The trading volume for ST Dongshi was 178,900 shares, with a transaction value of 67.52 million yuan, while Chuangye Heima had a trading volume of 114,300 shares and a transaction value of 350 million yuan [1][2] Group 2: Capital Flow - The education sector saw a net outflow of 217 million yuan from institutional investors, while retail investors contributed a net inflow of 185 million yuan [2] - The capital flow data indicates that ST Dongshi had a net outflow of 9.235 million yuan from institutional investors, while it attracted a net inflow of 3.754 million yuan from retail investors [3]

Group 1 - The number of applicants for the 2026 national civil service exam reached a record high of 3.718 million, with only 38,100 positions available, resulting in an acceptance ratio of approximately 98:1 [1] - Major players in the civil service exam training industry, such as Zhonggong Education, are experiencing significant revenue and profit declines, with Zhonggong's revenue dropping from 6.9 billion to 2.6 billion over four years [3][4] - The training institutions are heavily reliant on a model called "guaranteed pass classes," where students pay upfront and receive a full refund if they do not pass, leading to a paradox of increasing enrollment but decreasing profitability [3][4] Group 2 - The upfront payments from students are recorded as liabilities rather than income, creating a financial strain when refund requests increase [4][5] - Zhonggong Education expanded aggressively using prepayments and introduced a loan program that allowed students to enroll with no upfront cost, which initially boosted enrollment and revenue [5][7] - As the number of applicants increases and exam difficulty rises, refund claims have surged, with Zhonggong's refund liabilities exceeding training fees for the first time in Q3 2021 [7][9] Group 3 - The civil service training industry is facing intensified competition due to policies and the entry of other educational institutions, which has made traditional marketing and profit models less effective [9] - Universities are now providing their own civil service exam resources, further squeezing the market for training institutions [9]

Core Insights - The education sector experienced a slight increase of 0.35% on November 5, with Guomai Technology leading the gains [1] - The Shanghai Composite Index closed at 3969.25, up 0.23%, while the Shenzhen Component Index closed at 13223.56, up 0.37% [1] Education Sector Performance - Guomai Technology (002093) closed at 11.89, up 3.93% with a trading volume of 627,700 shares and a transaction value of 741 million [1] - Other notable performers included *ST Chuan Zhi (003032) with a 3.81% increase, and Xue Da Education (000526) with a 1.50% increase [1] - Conversely, Kevin Education (002659) saw a slight decline of 0.17%, while both Dou Shen Education (300010) and Zhong Gong Education (002607) experienced declines of 0.28% and 0.37% respectively [1][2] Capital Flow Analysis - The education sector saw a net outflow of 685,200 yuan from institutional investors, while retail investors contributed a net inflow of 1,083,120 yuan [2][3] - Guomai Technology had a net inflow of 69.57 million yuan from institutional investors, while *ST Chuan Zhi experienced a net inflow of 6.85 million yuan [3] - In contrast, Dou Shen Education and *ST Guo Hua faced significant net outflows of 3.04 million yuan and 6.32 million yuan from institutional investors respectively [3]