证券代码：003005 证券简称：竞业达 北京竞业达数码科技股份有限公司 投资者关系活动记录表 编号：2024-009 | --- | --- | --- | |----------------|--------------------------|----------------------------------------------------| | | | | | 投资者关系活动 | | 特定对象调研 □分析师会议 | | 类别 | □媒体采访 □业绩说明会 | | | | □新闻发布会 | 路演活动 | | | □现场参观 | | | | □其他 | | | | | 鹏华基金管理有限公司、华夏财富创新投资管理有限公 | | | | 司、上海涌津投资管理有限公司、德邦基金管理有限公 | | | | 司、博时基金管理有限公司、上海于翼资产管理合伙企业 | | | | （有限合伙）、西藏东财基金管理有限公司、新华基金、 | | | | 深圳瑞信致远私募证券基金管理有限公司、广发基金管理 | | | | 有限公司、平安资产管理有限责任公司、长城财富保险资 | | | | 管、华富基金管理有限公司、千合资本 ...

Investment Rating - Buy (first-time rating) [1] Core Investment Thesis - The company's core business in smart examination systems shows strong demand resilience, with first-mover advantages and technological barriers creating entry barriers [1] - The smart education and campus business is expected to grow due to low penetration rates and funding support, with AIGC-based educational analysis reports gaining traction [1] - The smart rail transit business is expected to rebound in the short term, with high visibility in 2025/2026 due to improved payment capabilities of urban rail transit customers [2] Business Segments Analysis Smart Examination Systems - Revenue contribution: 62.9% in 1H24 [1] - Core drivers: policy-driven penetration, technological upgrades, and increasing number of candidates [1] - Market capacity expected to grow until 2035 due to rising college entrance exam candidates [1] - Competitive landscape dominated by the company and Jiafa Education, with both maintaining gross margins above 50% [46] Smart Education and Campus - Revenue contribution: 24.7% in 1H24 [1] - Smart classroom penetration rate in universities was 15.3% in 2023, indicating significant growth potential [1] - Average annual IT funding per university increased to 13.18 million yuan in 2023, up 11.5% from 2021 [1] - AIGC-based educational analysis reports are being deployed, with the company launching the "StarSky Education Large Model" [1] Smart Rail Transit - Short-term performance turnaround expected due to project deliveries, with nearly 300 million yuan in orders [2] - Revenue conversion cycle is 2-3 years, with improved payment capabilities expected in 2025/2026 [2] Financial Projections - Revenue forecast: 568 million yuan in 2024, 681 million yuan in 2025, and 796 million yuan in 2026 [2] - Net profit forecast: 57 million yuan in 2024, 81 million yuan in 2025, and 114 million yuan in 2026 [2] - EPS forecast: 0.38 yuan in 2024, 0.55 yuan in 2025, and 0.77 yuan in 2026 [2] - Target price: 38.38 yuan/share based on 70x PE for 2025 [2] Competitive Landscape - The company and Jiafa Education are the main players in the smart examination systems market, with both maintaining high gross margins [46] - In the smart education and campus segment, the company's revenue surpassed Jiafa Education in 2023, with gross margins also exceeding Jiafa's [77] - AIGC-based solutions are expected to improve competitive dynamics in the smart education sector [77] Growth Drivers - Smart examination systems: driven by policy support, technological upgrades, and increasing exam candidates [1] - Smart education and campus: driven by low penetration rates, funding support, and AIGC-based solutions [1] - Smart rail transit: driven by project deliveries and improved payment capabilities [2]

Key Points Industry/Company Involved - **Company**: Jinmeida - **Industry**: Education Technology, AI in Education Core Views and Arguments - **AI Education Products Launched**: Jinmeida has launched a series of AI-based educational products using its large model, targeting universities and colleges. These products include automatic generation of knowledge graphs, teaching plans, and layered homework, along with 24/7 intelligent Q&A services ([1](1)). - **Market Competitiveness and Digital Transformation**: The introduction of these AI products aims to enhance market competitiveness and drive the transformation of education from informatization to digitalization. This is expected to break the previous scattered market competition格局 ([1](1)). - **Headquarters Advantage and Market Expansion**: Jinmeida's position as a leading enterprise in the industry is expected to strengthen as it expands its market coverage. The application of AI and AI technology is expected to significantly increase the price of smart classrooms and laboratories ([2](2)). - **Subscription-Based Service Model**: Jinmeida has shifted to a subscription-based service model for providing analysis and service reports, which has proven to be more effective than traditional project-based models. This has led to higher毛利率 and a significant increase in the value of the business ([4](4)). - **AI in Smart Recruitment and Public Security**: Jinmeida has entered the recovery stage in the smart recruitment and public security market. The company has a leading position in video and public security system construction in over 20 cities across the country ([5](5)). - **AI in Smart Exams**: Jinmeida is one of the earliest entrants and most product-rich companies in the national standardized exam market. The company has supported AI exam pilot projects in 2023 and 2024 and has achieved large-scale deployment in Urumqi, Xinjiang ([6](6)). - **Business Growth and Revenue**: Jinmeida expects higher exponential growth in its business, leading to new revenue streams ([6](6)). Other Important Points - **Market Expansion and New Regional Headquarters**: Jinmeida plans to establish new regional headquarters in cities like Shanghai, Guangzhou, Wuhan, Xi'an, Sichuan, and Hefei to expand its market share over the next two years ([13](13)). - **Data and Scene as Core Advantages**: Jinmeida's core advantages lie in its long-term partnerships with educational institutions and its deep understanding of the industry's data and needs ([15](15)). - **Education Budget Allocation**: The national education informationization fund is growing, but there is some budget tension among users. However, the allocation of funds has shifted from purchasing equipment to investing in professional content and integrated or AI services ([16](16)). - **Subscription-Based Service Model**: Jinmeida's AI education business is primarily promoted through two models: direct promotion to existing users and new users through trial use, and cooperation with local education bureaus to implement large-scale projects ([19](19)). - **Competitive Landscape**: Jinmeida faces competition from traditional education informationization companies that are expanding into AI education. However, Jinmeida's competitive advantage lies in its access to educational training data and its ability to automate data analysis and report generation ([21](21)).

证券代码：003005 证券简称：竞业达 公告编号：2024-048 北京竞业达数码科技股份有限公司 股票交易异常波动公告 1．公司前期披露的信息不存在需要更正、补充之处； 2．公司未发现近期公共传媒报道了可能或已经对本公司股票交易价格产生 较大影响的未公开重大信息； 3．近期公司经营情况正常，内外部经营环境未发生重大变化； 4．公司、控股股东和实际控制人不存在关于本公司的应披露而未披露的重 大事项，或处于筹划阶段的重大事项； 5．控股股东、实际控制人在股票异常波动期间不存在买卖公司股票的情形。 三、是否存在应披露而未披露信息的说明 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、股票交易异常波动的情况介绍 北京竞业达数码科技股份有限公司（以下简称"公司")股票连续三个交易日 （2024 年 11 月 20 日、2024 年 11 月 21 日、2024 年 11 月 22 日）收盘价格涨幅 偏离值累计达到 20.77%，根据《深圳证券交易所股票上市规则》的有关规定，属 于股票交易异常波动的情况。 二、说明关注、核实情况 针对公司股票异常波动，公司对有关事 ...

Group 1: Company Overview and Strategic Positioning - The company positions itself as a pioneer in intelligent education during the AIGC era, transitioning from informatization to intelligentization [2] - The focus is on enhancing AIGC applications and enriching educational services across the entire talent cultivation chain [2][3] Group 2: Financial Performance and Investment - Sales expenses increased by 24% year-on-year in Q1-Q3 2024, reflecting the company's investment in marketing and regional headquarters [3] - R&D investment also rose by 8.31% year-on-year in Q1-Q3 2024, supporting long-term growth and industry leadership [3] - The gross margin for intelligent education services is around 45%, improving from 44.48% in 2022 to 47.34% in H1 2024 [4] Group 3: Revenue Fluctuations and Business Dynamics - Revenue exhibits seasonal fluctuations, with higher income typically in Q2 and Q4 due to project acceptance timelines influenced by government funding [3][4] - The company’s revenue is primarily driven by public sector clients, with a focus on educational and transportation sectors [4] Group 4: Business Model and Client Management - The company employs a subscription-based model for AIGC service reports, charging users annually based on different types of reports [4] - Accounts receivable are mainly from the intelligent transportation sector, with clients including government and large state-owned enterprises, ensuring reliable cash flow [4]

证券代码：003005 证券简称：竞业达 北京竞业达数码科技股份有限公司 投资者关系活动记录表 编号：2024-007 | --- | --- | --- | |----------------|------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | 投资者关系活动 | □特定对象调研 □分析师会议 | | | 类别 | □媒体采访 □业绩说明会 | | | | □新闻发布会 | 路演活动 | | | 现场参观 | | | | 其他 （走进上市公司活动） | | | | | 深圳南粤应波股权投资基金管理有限公司、物产中大集团 | | | | 投资有限公司、浙江宁聚投资管理有限公 ...

一、发行概况 国金证券股份有限公司 关于 北京竞业达数码科技股份有限公司 2023 年度向特定对象发行 A 股股票 发行过程和认购对象合规性的报告 经中国证券监督管理委员会（以下简称"中国证监会"）《关于同意北京竞 业达数码科技股份有限公司向特定对象发行股票注册的批复》（证监许可〔2024〕 229 号）批复，同意北京竞业达数码科技股份有限公司（以下简称"竞业达"、 "发行人"、"公司"）向特定投资者发行人民币普通股（A 股）（以下简称 "本次发行"）。国金证券股份有限公司（以下简称"国金证券"或"保荐人 （主承销商）"）作为竞业达本次发行的保荐人（主承销商），对公司本次发 行过程及认购对象的合规性进行了核查，认为竞业达本次发行过程及认购对象 符合《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》"）、《证券发行与承销管理办法（2023 年修订）》《上市公司证券发行注册管理办法》以及《深圳证券交易所上市公 司证券发行与承销业务实施细则》等有关法律、法规、规章制度的要求及竞业 达有关本次发行的董事会、股东大会决议，符合竞业达及其全体股东的利益。 具体情况如下： ...

2024 年 11 月 北京 • 上海 • 深圳 • 广州 • 武汉 • 成都 • 重庆 • 青岛 • 杭州 • 南京 • 海口 • 东京 • 香港 • 伦敦 • 纽约 • 洛杉矶 • 旧金山 • 阿拉木图 Beijing • Shanghai • Shenzhen • Guangzhou • Wuhan • Chengdu • Chongqing • Qingdao • Hangzhou • Nanjing • Haikou • Tokyo • Hong Kong • London • New York • Los Angeles • San Francisco • Almaty 北京市中伦律师事务所 关于北京竞业达数码科技股份有限公司 2023 年度向特定对象发行 A 股股票 发行过程及认购对象合规性的 法律意见书 | 第一部分 律师声明事项 | 3 | | --- | --- | | 第二部分 | 法律意见书正文 4 | | 一、 | 本次发行的授权和批准 5 | | 二、 | 本次发行过程的合规性 6 | | 三、 | 本次发行认购对象的合规性 11 | | 四、 | 结论意见 13 | 北京市中伦律 ...

股票简称：竞业达 股票代码：003005 北京竞业达数码科技股份有限公司 2023 年度向特定对象发行 A 股股票 2 北京竞业达数码科技股份有限公司 年 月 日 发行情况报告书 保荐人（主承销商） （成都市青羊区东城根上街 95 号） 二〇二四年十一月 1 发行人及全体董事、监事、高级管理人员声明 本公司全体董事、监事及高级管理人员承诺本发行情况报告书不存在虚假 记载、误导性陈述或重大遗漏，并对其真实性、准确性、完整性承担相应的法 律责任。 全体董事签名： 钱瑞 张爱军 江源东 曹伟 岳昌君 周绍妮 徐伟 全体监事签名： 林清 董广元 祁劲峰 全体高级管理人员签字确认： 张爱军 江源东 曹 伟 张永智 李 丽 李文波 刘春丽 安尼瓦尔 杜中华 王 栩 | 发行人及全体董事、监事、高级管理人员声明 2 | | --- | | 释 义 4 | | 第一节 本次发行的基本情况 5 | | 一、本次发行履行的相关程序 5 | | 二、本次发行股票的基本情况 7 | | 三、本次发行对象基本情况 10 | | 四、本次发行的申购报价及获配情况 16 | | 五、本次发行的相关机构 20 | | 第二节 发行前后相关情 ...

北京竞业达数码科技股份有限公司 XYZH/2024CDAA1B0435 北京竞业达数码科技股份有限公司 北京竞业达数码科技股份有限公司： 我们接受委托，审验了北京竞业达数码科技股份有限公司（以下简称"贵公司"）截 至 2024 年 11 月 8 日止新增注册资本及股本的情况。按照法律法规以及协议、章程的要 求出资，提供真实、合法、完整的验资资料，保护资产的安全、完整是全体股东及贵公 司的责任。我们的责任是对贵公司新增注册资本及股本的情况发表审验意见。我们的审 验是依据《中国注册会计师审计准则第 1602 号—验资》进行的。在审验过程中，我们 结合贵公司的实际情况，实施了检查等必要的审验程序。 贵公司原注册资本为人民币 148,400,000.00 元，股本为人民币 148,400,000.00 元。 经贵公司第二届董事会第二十五次会议、2022 年年度股东大会、第三届董事会第三次会 议、第三届董事会第四次会议、第三届董事会第六次会议、2024 年第一次临时股东大会 通过，以及中国证券监督管理委员会出具《关于同意北京竞业达数码科技股份有限公司 向特定对象发行股票注册的批复》（证监许可〔2024〕229 号）批准 ...