（文章来源：证券日报） 证券日报网讯 12月24日，凯文教育在互动平台回答投资者提问时表示，截至12月19日，公司股东户数 为23952户。 ...

证券日报网讯12月24日，凯文教育（002659）在互动平台回答投资者提问时表示，智启APP目前已经在 海淀区主要的中学及集团校和部分小学进行测试使用，数量会根据每个学校教学进度和准备情况逐步推 广。目前学生和老师需要使用内测的账号密码登录使用。公司根据测试的反馈每周都在更新产品，同时 也会根据市场的需求及时调整和优化策略，未来将以市场化方式来对外推广。 ...

凯文教育（002659.SZ）12月24日在投资者互动平台表示，智启APP目前已经在海淀区主要的中学及集 团校和部分小学进行测试使用中，数量会根据每个学校教学进度和准备情况逐步推广。目前学生和老师 需要使用内测的账号密码登录使用。公司根据测试的反馈每周都在更新产品，同时也会根据市场的需求 及时调整和优化策略，未来将以市场化方式来对外推广。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：凯文智启APP下载量，应用情况，及未来的市场前景如 何？还有网上的下载量，海淀区有哪一些学校在用，有多少学生在用？未来走向市场的可能性有多大？ ...

Group 1 - The core business of Kevin Education (002659.SZ) includes five segments: youth sports clubs, systematic sports curriculum teaching in schools, sports event operation services, sports project training, and sports venue operation [1] - The company has not yet ventured into the esports sector [1]

Group 1 - The education industry is experiencing a "three-dimensional resonance" with marginal policy improvements, supply clearing, and demand release, shifting the investment logic from policy-driven to performance-driven, with potential for a "Davis double hit" in performance and valuation [1] - The trend of "AI + education" is emerging as a key investment theme, with leading education companies expected to benefit from the integration of AI technologies [2] - The upcoming "golden decade" for high school and college entrance exams is anticipated due to the increase in newborn population from the two-child policy, leading to sustained growth in the examination market [3] Group 2 - Recent policy improvements and encouragement of childbirth are expected to release educational demand, with a focus on developing and regulating the education sector [4] - Education companies are showing strong operational performance, with key variables such as new enrollments, renewal rates, and pricing impacting profitability, indicating a positive outlook for future earnings [5] - The landscape of the public examination sector is changing significantly, with new leaders emerging and strong recovery in management training, suggesting a favorable environment for education companies [5]

Group 1 - The report emphasizes the "Three-dimensional Resonance" in the education industry, driven by policy improvements, supply-side clearing, and demand release, indicating a shift from policy-driven to performance-driven investment logic [8][12][58] - The "AI + Education" trend is highlighted as a significant growth opportunity, with major companies actively investing in AI technologies and educational hardware, positioning themselves to benefit from this integration [8][19][24] - The report predicts a "golden decade" for the high school and college entrance examination markets due to demographic changes, with a significant increase in the number of students entering these systems [33][34] Group 2 - The education sector is experiencing a recovery, characterized by a "survivor takes all" phenomenon, where remaining companies are expected to benefit significantly from the market rebound [9][58] - The report identifies four key variables—new enrollments, renewal rates, average revenue per user, and course scheduling—that determine the profitability of education companies, indicating strong performance potential [8][12][58] - The report recommends specific companies such as Kevin Education, Action Education, Xueda Education, and Huatu Shanding for investment, while suggesting a cautious approach towards companies like Angli Education and Kede Education [3][12][11] Group 3 - The report outlines the positive impact of recent policy changes, including the recognition of reasonable demand for extracurricular training, which is expected to foster a healthier development environment for the education sector [58][62] - The introduction of a national childcare subsidy program is expected to stimulate demand for early childhood education, further supporting the education market [63][64] - The report notes that the public examination market is becoming increasingly competitive, with a significant rise in the number of candidates, indicating strong growth potential for companies involved in civil service exam training [55][51][56] Group 4 - The report highlights the rapid growth of the AI hardware market in education, projecting a market size exceeding 100 billion yuan by 2025, driven by technological advancements and increasing demand [29][30] - The report discusses the emergence of various AI educational models and products from leading companies, indicating a trend towards innovative educational solutions that leverage AI technology [24][28][27] - The report emphasizes the importance of integrating AI into educational practices, suggesting that companies that effectively adopt these technologies will enhance their competitive edge and operational efficiency [19][24][8]

Investment Rating - The report maintains an "Overweight" investment rating for the consumer services industry, expecting the industry index to outperform the market index by over 10% in the next six months [29]. Core Insights - The macroeconomic environment is experiencing fluctuations, and increasing domestic demand to boost consumption has become a crucial driver for economic growth. Recent policies have significantly enhanced support for service consumption, including a notice from the Ministry of Commerce to strengthen financial collaboration and support for service consumption [29][19]. - The consumer services industry index experienced a slight decline of 0.52% from December 5 to December 18, 2025, underperforming the CSI 300 index by approximately 0.66 percentage points [7]. - The report highlights a divergence in the performance of sub-sectors within the consumer services industry, with the education sector showing strength while the tourism and leisure sector faced challenges due to risks associated with major stakeholders [8][11]. - The overall price-to-earnings (PE) ratio for the consumer services industry is approximately 37.57 times, remaining stable compared to the previous period but below the average valuation of 43.42 times since 2016 [14]. Summary by Sections Market Review - The consumer services industry index showed a slight decline, ranking sixteenth among all CITIC first-level industry indices [7]. - Sub-sector performance varied, with comprehensive services and tourism leisure declining by 3.42% and 2.86%, respectively, while the education sector increased by 4.22% [8]. - A total of 31 listed companies in the industry achieved positive returns, with the top five performers being China High-Tech, Zhonggong Education, Tianmu Lake, Qujiang Cultural Tourism, and Doushen Education, with increases ranging from 10.11% to 17.76% [11]. - The industry’s overall PE ratio is approximately 37.57 times, which is lower than the historical average [14]. Industry News - The Ministry of Commerce issued a notice to enhance support for service consumption, focusing on various sectors including hospitality, education, and tourism [19]. - Hunan Province is promoting strategic mergers and acquisitions in the cultural tourism sector to support quality enterprises [18]. Company Announcements - China Duty Free Group won bids for two duty-free segments at Shanghai Airport, marking a significant expansion in its operations [23]. - Xiangyuan Cultural Tourism's major shareholder faces judicial freezes on shares, which may impact the company's stability [24]. Weekly Outlook - The report suggests focusing on themes such as ice and snow tourism and duty-free shopping as potential catalysts for growth in the consumer services sector. Recommended stocks include Jinjiang Hotels, Changbai Mountain, Emei Mountain A, and China Duty Free [29][30][32].

证券日报网讯12月18日，凯文教育（002659）在互动平台回答投资者提问时表示，截至11月20日，公司 股东户数为24639户。 ...

Company Overview - Kevin Education (SZ 002659) announced the convening of its 20th meeting of the 6th Board of Directors on December 12, 2025, to discuss the proposal for the reappointment of the auditing firm for the fiscal year 2025 [1] - As of the report date, Kevin Education has a market capitalization of 3.4 billion yuan [1] Revenue Composition - For the first half of 2025, Kevin Education's revenue composition is as follows: education services account for 98.62% and other businesses account for 1.38% [1]

北京凯文德信教育科技股份有限公司 董事、高级管理人员薪酬管理制度 北京凯文德信教育科技股份有限公司 董事、高级管理人员薪酬管理制度 第一章 总 则 第一条 为进一步完善北京凯文德信教育科技股份有限公司（以下简称"公 司"）治理结构，加强和规范公司董事、高级管理人员的薪酬管理，建立科学合 理的激励和约束机制，提高公司的经营管理水平，保障公司持续、稳定、健康的 发展，根据《中华人民共和国公司法》《上市公司治理准则》等法律、法规和规 范性文件以及《北京凯文德信教育科技股份有限公司章程》（以下简称"《公司 章程》"）的规定，结合公司的实际情况，制定本制度。 第二条 本制度适用于《公司章程》规定的董事、高级管理人员。 第三条 公司董事、高级管理人员薪酬管理遵循以下原则： （一）公平原则：体现收入水平符合公司规模与业绩的原则，同时兼顾市场 薪酬水平； （二）责、权、利统一原则：体现薪酬与岗位价值、履行责任义务相符； （三）长远发展原则：体现薪酬与公司持续健康发展的目标相符； （四）激励约束并重原则：体现薪酬发放与考核、奖惩挂钩，与公司激励机 制挂钩。 第三章 薪酬标准 1 北京凯文德信教育科技股份有限公司 董事、高级管理 ...