证券日报网讯竞业达9月15日在互动平台回答投资者提问时表示，截至2025年9月10日，公司总户数为 32787户（未合并融资融券信用账户），其中个人户数为32171户，机构户数为616户。 （文章来源：证券日报） ...

Core Viewpoint - The company, Jingyeda Digital Technology Co., Ltd., has shown fluctuations in stock performance and financial metrics, indicating potential investment opportunities and challenges in the context of its business operations and market conditions [1][2][3]. Financial Performance - As of August 8, 2025, Jingyeda reported a revenue of 1.18 billion yuan, a year-on-year decrease of 18.41%, and a net profit attributable to shareholders of -189.8 million yuan, down 37.87% year-on-year [2]. - The stock price has increased by 17.54% year-to-date, with a recent 5-day increase of 0.27%, a 20-day decrease of 3.52%, and a 60-day increase of 12.05% [1]. Stock Market Activity - On September 9, 2025, the stock price reached 22.50 yuan per share, with a trading volume of 80.5281 million yuan and a turnover rate of 2.89%, resulting in a total market capitalization of 5.206 billion yuan [1]. - The company has appeared on the "Dragon and Tiger List" four times this year, with the most recent appearance on July 28, 2025, showing a net buy of -72.5091 million yuan [1]. Business Overview - Jingyeda's main business includes the development, production, sales, and service of information technology products and solutions for educational informatization and urban rail transit security, with a focus on smart city expansion [2]. - The revenue composition is as follows: Smart Examination 52.39%, Smart Rail 25.77%, Smart Teaching and Campus 21.78%, and Others 0.06% [2]. Shareholder Information - As of June 30, 2025, the number of shareholders was 41,400, a decrease of 7.21% from the previous period, with an average of 3,066 circulating shares per person, an increase of 7.77% [2][3]. - The company has distributed a total of 1.22 billion yuan in dividends since its A-share listing, with 52.888 million yuan distributed over the past three years [3].

Group 1 - The stock of Jingyeda increased by 2.19% on September 1, closing at 22.87 yuan, with a significant block trade involving 162,000 shares and a total transaction value of 3.2635 million yuan [1] - The first transaction price was 20.14 yuan for 162,000 shares, resulting in a transaction value of 3.2635 million yuan, with a premium rate of -11.94%. The buyer was CITIC Securities Co., Ltd. Beijing Asian Games Village Securities Branch, and the seller was Shenwan Hongyuan Securities Co., Ltd. Shanghai Hongkou District Huangpu Road Securities Branch [1] - Over the past three months, the stock has recorded 23 block trades with a total transaction value of 102 million yuan. In the last five trading days, the stock has declined by 5.57%, with a net outflow of main funds amounting to 66.9854 million yuan [1]

Core Viewpoint - The company is expanding its AI+ educational analysis and diagnostic report business, with a focus on providing quality and balanced development services in compulsory education, which has been successfully replicated in the Nanming District of Guizhou and is being promoted in other provinces [1] Group 1 - The user acceptance of the company's services has increased compared to last year, with several institutions expressing significant deployment demands [1] - There is an expected increase in average revenue per user, indicating a positive trend in customer spending [1] - As of the end of July, the company has over ten million orders in hand for this type of product, suggesting a substantial growth in revenue for the year [1]

Group 1: Financial Performance and Market Trends - The gross margin for the smart education and campus business decreased significantly in the first half of the year due to a small revenue base and reliance on a single large client, impacting overall profitability [3] - The overall budget for higher education institutions is tightening, but there is a shift towards AI education support, with increased funding for intelligent transformation [4] - The company anticipates a significant increase in revenue for AI-related products, with orders exceeding tens of millions by the end of July [5] Group 2: AI Application and Product Development - The "Starry Sky Education Model" has shown a performance improvement of approximately 100% compared to last year, with enhanced capabilities for multi-modal data input [4] - AI applications in education are expanding, with three main commercialization models: AI product sales, comprehensive solutions, and diagnostic analysis reports [5] - The company is actively developing new training programs in AI-related fields, with a focus on vocational skills and partnerships with universities for practical training [5] Group 3: Business Strategy and Operational Model - The company employs a hybrid business model of direct sales, distribution, and operational services, covering 30 provinces [5] - A differentiated strategy is used for market penetration, focusing on high-value clients for customized projects in smart education and standardized products for examination services [5] - The company is enhancing its service ecosystem with offerings such as AIGC report subscriptions and AI equipment leasing [5]

Financial Performance - The company reported a total revenue of 118 million yuan for the first half of 2025, a year-on-year decrease of 18.41% [1] - The net profit attributable to shareholders was -18.98 million yuan, down 37.87% year-on-year [1] - In Q2 2025, total revenue was 84.995 million yuan, a decline of 26.92% year-on-year, while net profit was 2.2374 million yuan, down 81.04% [1] - The gross margin was 47.4%, a decrease of 3.2% year-on-year, and the net margin was -16.05%, down 66.61% year-on-year [1] - Total expenses (selling, administrative, and financial) reached 71.6988 million yuan, accounting for 60.62% of total revenue, an increase of 47.4% year-on-year [1] - Earnings per share were -0.08 yuan, an increase of 11.64% year-on-year, while operating cash flow per share was -0.15 yuan, down 70.46% year-on-year [1] Business Evaluation - The company's return on invested capital (ROIC) was 2.02% last year, indicating weak capital returns [2] - The net profit margin was 8.73%, suggesting average added value for products or services [2] - Historical data shows a median ROIC of 14.49% since the company went public, with the worst year being 2023 at 0.34% [2] - The company has a healthy cash asset position [2] Accounts Receivable - The accounts receivable situation is concerning, with accounts receivable to profit ratio reaching 563.04% [3] Market Opportunities - The company anticipates a market growth driven by the increasing number of students and the demand for smart classrooms, with only 15% penetration compared to 70% for multimedia classrooms [4] - The overall market size is expected to grow significantly due to supportive policies for education digitization and artificial intelligence [4] - The company aims to leverage its advantages in scenario chains, training data, and large model technologies to enhance competitiveness in the market [5]

Investment Rating - The report maintains a "Buy" rating for the company [3][11] Core Views - The company is expected to achieve revenue of 4.96 billion, 6.09 billion, and 7.23 billion RMB for the years 2025, 2026, and 2027 respectively, with corresponding net profits of 0.28 billion, 0.47 billion, and 0.64 billion RMB [3][8] - The current price corresponds to a PE valuation of approximately 190.2, 116.0, and 85.0 times for the years 2025, 2026, and 2027 respectively [3][8] Revenue and Profit Forecast - The company's revenue for 2023 is projected at 4.10 billion RMB, with a growth rate of -6.76% compared to the previous year [8] - The net profit for 2023 is estimated at 0.10 billion RMB, with a significant increase of 321.88% expected in 2024 [8] - The diluted earnings per share are forecasted to be 0.068 RMB in 2023, increasing to 0.276 RMB by 2027 [8] Financial Performance - In the first half of 2025, the company reported a revenue of 1.18 billion RMB, a year-over-year decrease of 18.41% [9] - The gross margin for the first half of 2025 was 47.4%, reflecting a slight decline of 1.57 percentage points year-over-year [9] - The company’s expenses in R&D, sales, and management have increased, indicating a focus on expanding its sales network in the smart education sector [9] Business Segments - The smart education segment saw a revenue decline of 28.13% in the first half of 2025, while the smart examination segment grew by 32.06% [9] - The smart rail segment experienced a robust growth of 71.03% in the same period, indicating strong demand in that area [9] Valuation Metrics - The report provides a detailed breakdown of the company's valuation metrics, including a projected P/E ratio of 190.23 for 2025, which reflects the company's growth expectations [8][10] - The return on equity (ROE) is expected to improve from 0.68% in 2023 to 2.75% by 2027, indicating better profitability over time [8][10]

Group 1 - The company announced that its third board meeting of the 16th session will be held on August 26, 2025, combining in-person and remote voting methods [1] - The meeting will review the full text of the 2025 semi-annual report and other documents [1] Group 2 - The news highlights a significant medical advancement with the world's first successful transplantation of gene-edited pig lungs into a human [1] - The article includes a dialogue with key participants discussing the timeline for clinical applications of this breakthrough [1]

北京竞业达数码科技股份有限公司 2025 年半年度财务报告 北京竞业达数码科技股份有限公司 2025 年半年度财务报告 2025 年 8 月 1 北京竞业达数码科技股份有限公司 2025 年半年度财务报告 第一部分 财务报表 一、审计报告 半年度报告是否经过审计 □是 否 公司半年度财务报告未经审计。 二、财务报表 财务附注中报表的单位为：元 1、合并资产负债表 编制单位：北京竞业达数码科技股份有限公司 2025 年 06 月 30 日 单位：元 | 项目 | 期末余额 | 期初余额 | | --- | --- | --- | | 流动资产： | | | | 货币资金 | 527,305,158.06 | 1,065,395,314.24 | | 结算备付金 | | | | 拆出资金 | | | | 交易性金融资产 | 534,456,653.18 | 96,465,385.29 | | 衍生金融资产 | | | | 应收票据 | 11,733,956.14 | 31,197,647.23 | | 应收账款 | 240,390,689.39 | 286,300,483.98 | | 应收款项融资 | | | ...

竞业达数码科技股份有限 | | | | 编制单位：北京竞业达数码科技股份有限2 | 日 | | | | | 单位:万元 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 非经营性资金占 | 与用友 | 市公司的关 占用方与上 | 日 上市公司核算 的会计科 | 2024 年半年度占用累 计发生金额(不含利 占用资金余额 2024 年期初 | 2024 年半年度偿 占用资金的利息 还累计发生金额 2024 年半年度 | 占用资金余额 2024年6月期末 | 占用形成 原因 | 占用性质 | | 股股东、实际控制人及其附属企业 | H | 联关系 | | 息) | | | | | | 1188 前控股股东、实际控制人及其附属企业 企业 其他关联方及其附 | HS 不适用 | | | | | | | | | 总计 | - | - | - | | | | | 1 | | 其他关联资金往 | 资金往来方名 | 往来方与上 市公司的关 联关系 | E 上市公司核算 的会计科 | 2025 年半度往来累计 往来资金余额 发生金额(不含利息) 20 ...