北京凯文德信教育科技股份有限公司 详式权益变动报告书 上市公司名称：北京凯文德信教育科技股份有限公司 股票上市地点：深圳证券交易所 股票简称：凯文教育 股票代码：002659.SZ 信息披露义务人：北京市海淀区国有资产投资经营有限公司 住所：北京市海淀区西四环北路 9 号鑫泰大厦三层 通讯地址：北京市海淀区西四环北路 9 号鑫泰大厦三层 股份变动性质：同一实际控制人下股份增加（协议受让） 签署日期：2024 年 9 月 24 日 北京凯文德信教育科技股份有限公司 详式权益变动报告书 信息披露义务人声明 一、本报告书系信息披露义务人依据《中华人民共和国公司法》《中华人民 共和国证券法》《上市公司收购管理办法》《公开发行证券的公司信息披露内容 与格式准则第 15 号——权益变动报告书》《公开发行证券的公司信息披露内容 与格式准则第 16 号——上市公司收购报告书》等相关法律、法规和规范性文件 编写。 二、信息披露义务人签署本报告书已获得必要的授权和批准，其履行不违反 信息披露义务人章程或内部规则中的任何条款，或与之相冲突。 三、依据《中华人民共和国证券法》《上市公司收购管理办法》的规定，本 报告书已全面披露信息披 ...

股票代码：002659.SZ 北京凯文德信教育科技股份有限公司 简式权益变动报告书 上市公司名称：北京凯文德信教育科技股份有限公司 股票上市地点：深圳证券交易所 股票简称：凯文教育 信息披露义务人名称：八大处控股集团有限公司 住所：北京市海淀区杏石口路 65 号院 1 号楼 2 层 201 室 通讯地址：北京市海淀区杏石口路 65 号院 1 号楼 2 层 201 室 股份变动性质：同一实际控制人下股份减少（协议转让） 签署日期：2024 年 9 月 24 日 三、依据《中华人民共和国证券法》及《上市公司收购管理办法》的规定， 本报告书已全面披露了信息披露义务人在北京凯文德信教育科技股份有限公司 （以下简称"凯文教育"、"上市公司"）拥有权益的股份变动情况。截至本报 告书签署日，除本报告书披露的持股信息外，信息披露义务人没有通过任何其他 方式增加或减少在凯文教育中拥有权益的股份。 四、截至本报告书签署日，本次权益变动尚未正式生效。信息披露义务人本 次以协议转让方式减持凯文教育股份的生效条件详见本报告书"第四节 权益变 动方式"之"二、《股份转让协议》的主要内容"之"（六）生效、变更与解除"。 本次交易尚存在不确 ...

中德证券有限责任公司 关于 北京凯文德信教育科技股份有限公司 详式权益变动报告书 之 财务顾问核查意见 财务顾问 2024 年 9 月 中德证券有限责任公司关于北京凯文德信教育科技股份有限公司详式权益变动报告书之财务顾问核查意见 声 明 根据《中华人民共和国证券法》《上市公司收购管理办法》《公开发行证券 的公司信息披露内容与格式准则第 15 号——权益变动报告书》及《公开发行证 券的公司信息披露内容与格式准则第 16 号——上市公司收购报告书》等法律法 规和规范性文件的规定，中德证券有限责任公司（以下简称"财务顾问"）按照 行业公认的业务标准、道德规范，本着诚实信用、勤勉尽责的精神，对本次权益 变动的相关情况和资料进行了核查，对信息披露义务人出具的《北京凯文德信教 育科技股份有限公司详式权益变动报告书》所披露的内容出具核查意见，以供投 资者和有关各方参考。 为此，本财务顾问特作出以下声明： 1、本财务顾问已按照规定履行了尽职调查义务，对信息披露义务人披露的 《北京凯文德信教育科技股份有限公司详式权益变动报告书》进行了核查，确信 披露文件内容与格式符合规定，并有充分理由确信所发表的专业意见与信息披露 义务人披露 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative return of over 20% within the next six months [3][11]. Core Viewpoints - The company is expected to benefit from the transfer of shares from the shareholder, which will enhance resource integration and promote the strategic restructuring of state-owned enterprises [1]. - The company is positioned as the only education-related listed company under the Haidian District State-owned Assets Supervision and Administration Commission, leveraging quality educational resources to expand its business into vocational education [1]. - The financial forecasts predict a gradual recovery in profitability, with net profits expected to reach 0.06 billion, 0.31 billion, and 0.71 billion yuan from 2024 to 2026, respectively [2][6]. Financial Data Summary - The total revenue is projected to grow from 171.80 million yuan in 2022 to 601.22 million yuan in 2026, reflecting a compound annual growth rate (CAGR) of approximately 27.29% [6]. - The company's net profit is expected to turn positive by 2024, with a forecasted net profit of 6.10 million yuan, increasing to 70.96 million yuan by 2026 [6][7]. - The earnings per share (EPS) are projected to improve from -0.16 yuan in 2022 to 0.12 yuan in 2026, indicating a significant turnaround in profitability [6][7]. Valuation Metrics - The price-to-earnings (P/E) ratio is expected to decrease from -24.28 in 2022 to 33.05 in 2026, suggesting an improvement in the company's valuation as profitability increases [6][7]. - The price-to-book (P/B) ratio is projected to remain stable around 1.02 to 1.07 over the forecast period, indicating a consistent valuation relative to the company's book value [6][7]. Market Position - The company operates two Kevin schools, focusing on maintaining educational quality while expanding its service offerings in international education [2]. - The strategic partnership with Haiguotou is expected to enhance the company's operational capabilities and market presence, particularly in vocational education [1].

Investment Rating - The report maintains an "Accumulate" rating for Kevin Education (002659.SZ) with a market price of 3.88 CNY [1]. Core Views - The report highlights the restructuring of voting rights and shareholding relationships, with Haiguo Investment becoming the largest shareholder of Kevin Education, which is expected to facilitate the company's future development [1][2]. - The new national policies are anticipated to provide institutional incentives, prompting attention to the subsequent changes in Kevin Education [1][2]. - The report maintains its profit forecast, projecting a net profit attributable to the parent company of 0.10 billion CNY in 2024, 0.58 billion CNY in 2025, and 1.09 billion CNY in 2026, corresponding to P/E ratios of 235.1, 39.9, and 21.2 respectively [1][2]. Financial Summary - **Revenue Forecast**: - 2022: 172 million CNY - 2023: 254 million CNY - 2024E: 307 million CNY - 2025E: 385 million CNY - 2026E: 492 million CNY - Year-on-Year Growth: 2023: 48%, 2024E: 21%, 2025E: 26%, 2026E: 28% [1][2]. - **Net Profit Forecast**: - 2022: -97 million CNY - 2023: -50 million CNY - 2024E: 10 million CNY - 2025E: 58 million CNY - 2026E: 109 million CNY - Year-on-Year Growth: 2023: 49%, 2024E: 120%, 2025E: 489%, 2026E: 88% [1][2]. - **Earnings Per Share (EPS)**: - 2024E: -0.16 CNY - 2025E: -0.08 CNY - 2026E: 0.02 CNY, 0.10 CNY, 0.18 CNY [1][2]. - **Cash Flow**: - Operating cash flow for 2024E is projected at 57 million CNY, increasing to 166 million CNY by 2026E [2]. - **Valuation Ratios**: - P/E ratios are projected to improve from -24.0 in 2023 to 21.2 in 2026 [1][2]. Shareholding Changes - The report notes that Haiguo Investment has become the largest shareholder of Kevin Education following the transfer of shares from Baidaochu Holdings, which has reduced its holding to 16% [1][2]. Industry Context - The report emphasizes the potential for Kevin Education to leverage resources from Haiguo Investment for stable business development and the preservation and appreciation of state assets [1][2].

证券代码：002659 证券简称：凯文教育 公告编号：2024-037 北京凯文德信教育科技股份有限公司 关于股东协议转让部分股份和签订托管协议暨权益变动的提示 性公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 重要提示： 1、北京凯文德信教育科技股份有限公司（以下简称"公司"或"凯文教育"） 股东八大处控股集团有限公司（以下简称"八大处控股"）与公司控股股东北京 市海淀区国有资产投资经营有限公司（以下简称"海国投"）于2024年9月20日 签署了《股份转让协议》和《股权托管协议》，协议约定八大处控股将其所持有 的公司88,784,808股股份（占总股本的14.84%）以3.69元/股的价格通过非公开协 议转让的方式转让给海国投，同时约定八大处控股将持有的剩余83,734,486股公 司股份（占总股本的14%）对应的全部股东权益（财产权和收益权除外）继续委 托海国投全权管理和行使。 2、本次权益变动在同一实际控制人控制的不同主体之间进行，未触发要约 收购。 3、本次权益变动未导致公司控制权变更。公司的控股股东仍为海国投，实 际控制人仍为北京市海淀区人民政 ...

Investment Rating - The report maintains an "Accumulate" rating for Kevin Education (002659.SZ) with a market price of 3.76 yuan [1]. Core Views - The company's fundamentals continue to show positive confirmation, with expectations for revenue performance in the second half of the year [1]. - The performance aligns with expectations, with the company achieving a revenue of 152 million yuan in the first half of 2024, representing a year-on-year increase of 18.9% [1]. - The second quarter is anticipated to be the lowest revenue quarter for the year, but the overall revenue outlook remains optimistic due to potential improvements in enrollment for the new academic year [1]. Financial Performance Summary - **Revenue Forecasts**: - 2022: 172 million yuan - 2023: 254 million yuan - 2024E: 307 million yuan - 2025E: 385 million yuan - 2026E: 492 million yuan - Year-on-year growth rates: 2023: 48%, 2024E: 21%, 2025E: 26%, 2026E: 28% [1][2]. - **Net Profit Forecasts**: - 2022: -97 million yuan - 2023: -50 million yuan - 2024E: 10 million yuan - 2025E: 58 million yuan - 2026E: 109 million yuan - Year-on-year growth rates: 2024E: 120%, 2025E: 489%, 2026E: 88% [1][2]. - **Earnings Per Share (EPS)**: - 2024E: -0.16 to 0.18 [1]. - **Cash Flow**: - Cash flow per share is projected to improve from 0.11 in 2024E to 0.28 in 2026E [1]. - **Return on Equity (ROE)**: - Expected to turn positive by 2025E with a forecast of 2.9% [2]. Market Position and Strategy - The company is expanding its domestic education offerings, including partnerships with Huawei and other educational institutions, which are expected to contribute to revenue growth [1]. - The report highlights the importance of the upcoming academic year for enrollment and revenue generation, particularly through summer training programs [1].

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for the stock over the next six months [5][12]. Core Insights - The company reported a revenue of 0.8 million in Q2 2024, representing a year-on-year increase of 25.8%. The net profit attributable to the parent company was -0.06 million, with a growth of 33.6% year-on-year. For the first half of 2024, the total revenue reached 1.5 million, up 18.9% year-on-year, while the net profit attributable to the parent company was -0.1 million, reflecting a significant increase of 51.0% year-on-year [1][2]. - The company has achieved impressive academic results, with a 100% admission rate to the Top 50 US universities and a 71% admission rate to the Top 5 UK universities for the 2024 academic year. This success enhances the company's reputation and recognition both domestically and internationally [1][4]. - The company is expanding its domestic high school offerings, with new programs launched to meet diverse educational needs, including a boutique quality high school class at Chaoyang Kevin School, which started in the fall of 2023 [1][4]. Financial Performance - For the first half of 2024, the education services business generated revenue of 1.2 million, a year-on-year increase of 30.7%, accounting for 77.0% of total revenue. In contrast, the training business saw a revenue decline of 9.2%, contributing 21.6% to total revenue [3]. - The gross profit margin for the first half of 2024 was 27.8%, an increase of 5.7 percentage points year-on-year. The gross margin for the education services business was 35.4%, up 7.4 percentage points, while the training business gross margin decreased by 2.9 percentage points to 6.8% [1][3]. - The company forecasts a net profit attributable to the parent company of 0.06 million, 0.3 million, and 0.7 million for the years 2024 to 2026, with corresponding P/E ratios of 369X, 73X, and 32X [2][8].

| 非经营性资金占用 | 资金占用方名称 | 占用方与上市 公司的关联关 | 上市公司核算 的会计科目 | 2024 | 年期初占用 资金余额 | 年 月占 2024 1-6 用累计发生金额 | | 年 2024 1-6 占用资金的利 | 月 2024 | 年 偿还累计发生金 | 月占 1-6 | 2024 | 年 月 日 6 30 占用资金余额 | | 占用形成原 因 | 占用性质 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 系 | | | | （不含利息） | | 息（如有） | | 额 | | | | | | | | 控股股东、实际控制 | | | | | | | | | | | | | | | | | | 人及其附属企业 | | | | | | | | | | | | | | | | | | 小计 | | | | | | | | | | | | | | | | | | 前控股股东、实际控 | | | | | | | | | ...

证券代码：002659 证券简称：凯文教育 公告编号：2024-034 北京凯文德信教育科技股份有限公司 第六届董事会第十次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 北京凯文德信教育科技股份有限公司（以下简称"公司"）第六届董事会第 十次会议（以下简称"会议"）通知于 2024 年 8 月 16 日以传真、邮件、专人送 达等方式发出，会议于 2024 年 8 月 28 日以现场结合通讯表决方式召开。会议应 出席董事 7 人，实际出席董事 7 人，本次会议的出席人数、召集召开程序、议事 内容均符合《公司法》和《公司章程》的相关规定，会议合法有效。 会议由董事长王腾先生主持，与会董事经审议通过了以下议案： 一、《2024 年半年度报告及其摘要》 表决结果：7 票同意，0 票反对，0 票弃权 全体董事、监事、高级管理人员对公司《2024 年半年度报告及其摘要》签署 了书面确认意见，保证公司 2024 年半年度报告及其摘要内容真实、准确、完整， 不存在任何虚假记载、误导性陈述或者重大遗漏。 详细内容请见公司于同日在巨潮资讯网披露的《2024 年半年 ...