证券代码：300010 证券简称：豆神教育 公告编号：2025-020 豆神教育科技（北京）股份有限公司 第六届董事会第六次会议决议公告 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、董事会会议召开情况 豆神教育科技（北京）股份有限公司（以下简称"公司"）第六届董事会第六次 会议于 2025 年 5 月 22 日在北京市海淀区东北旺西路 8 号院 25 号楼豆神教育集团会 议室以现场会议与电话会议相结合的方式召开，会议通知已于 2025 年 5 月 19 日以 电子邮件等方式送达全体董事，与会的各位董事已知悉与所议事项相关的必要信息。 本次董事会会议应出席董事 9 名，实际出席会议董事 9 名。本次会议由董事长窦昕 先生主持，公司部分监事、高级管理人员列席了本次会议。会议的召开和表决程序 符合《中华人民共和国公司法》《公司章程》和《董事会议事规则》的相关规定。 二、董事会会议审议情况 与会董事认真审议并通过了如下议案： 1、审议通过《关于选举文继旭先生为公司第六届董事会独立董事的议案》 鉴于公司独立董事陈重先生因个人原因辞去独立董事职务，根据《公司法》《 ...

Core Viewpoint - The establishment of Tianshui Zhiliang Machine Tool Co., Ltd. by Dou Shen Education raises questions about the company's shift from education to manufacturing, particularly in the AI and robotics sectors [1][3][4]. Group 1: Company Background and Financial Performance - Dou Shen Education reported a revenue of 757 million yuan in 2024, a decrease of 23.77% year-on-year, while net profit increased by 334.04% to 137 million yuan [1][9]. - The company's live e-commerce business, which accounted for 41.39% of total revenue in 2023, saw a significant decline of approximately 37 percentage points in 2024 [2][13]. - R&D expenses have drastically decreased from 114 million yuan in 2020 to 4.62 million yuan in 2024, marking an 88.98% drop compared to 2023 [10]. Group 2: Strategic Shifts and New Ventures - Dou Shen Education is actively expanding into AI and robotics, with plans to develop AI hardware for educational purposes, including a humanoid robot for learning assistance [5][8]. - The newly established Tianshui Zhiliang has a registered capital of 50 million yuan and focuses on manufacturing industrial and special operation robots, fully owned by Dou Shen Education [4][6]. - The company has set up multiple subsidiaries related to AI and robotics, indicating a strong commitment to this new direction [6][10]. Group 3: Market Position and Future Outlook - Despite the ambitious plans in AI and robotics, the revenue from AI education remains low, contributing only 3.61% to total revenue in 2024 [11]. - Dou Shen Education's live e-commerce segment generated approximately 259 million yuan in 2024, accounting for 34.17% of total revenue, but this also reflects a decline from previous years [12][13]. - The company aims to leverage its educational expertise to enhance its AI offerings, although the effectiveness of this strategy remains to be seen [10][11].

Core Viewpoint - The article discusses the transformation of Dou Shen Education (300010.SZ) towards AI education amidst its financial struggles and the leadership change from Chi Yanming to Dou Xin, highlighting the company's efforts to recover from past losses and its current challenges in the competitive AI education market [1][19][26]. Company Background - Dou Shen Education was formerly known as Li Si Chen, founded by Chi Yanming, a Tsinghua University graduate, who faced significant financial difficulties leading to a series of losses and a total cash-out of approximately 1.05 billion yuan [1][10]. - The company underwent bankruptcy restructuring, reducing its debt by 2.6 billion yuan, and Dou Xin, another academic figure, became the new actual controller [1][16][17]. Financial Performance - In 2024, Dou Shen Education reported a profit of 137 million yuan, and in Q1 of the current year, it achieved a profit of 37 million yuan, although its revenue has been consistently declining [1][24]. - From 2020 to 2023, the company incurred a total net loss of over 4.5 billion yuan, with a slight recovery in 2024 attributed to financial and governance improvements [23]. AI Education Development - Dou Shen Education has begun to focus on AI education, with AI education revenue accounting for only 3.6% of total revenue in 2024, generating approximately 27.31 million yuan [20][23]. - The company has launched AI-assisted learning products and formed strategic partnerships to enhance its AI education offerings, including a collaboration with Microsoft [22][26]. Market Challenges - Despite the push into AI education, Dou Shen Education's revenue has been on a downward trend, with total revenues decreasing from 1.386 billion yuan in 2020 to 757 million yuan in 2024 [23]. - The company faces stiff competition in the AI education sector from established players like New Oriental and tech giants such as Tencent and Alibaba, raising concerns about its ability to maintain profitability [26].

Core Viewpoint - Dou Shen Education has shown significant growth in net profit and is actively integrating AI technology into its educational offerings, despite facing regulatory scrutiny from the China Securities Regulatory Commission. Financial Performance - For the fiscal year 2024, Dou Shen Education reported a net profit attributable to shareholders of 137 million yuan, representing a year-on-year increase of 334.04% [2] - The company's non-GAAP net profit reached 100 million yuan, marking a year-on-year growth of 119.86% [2] AI Education Capabilities - Dou Shen Education emphasizes its core advantages in AI education through self-developed intelligent products and a strong corpus of educational resources [3] - The company has established a dedicated AI team that has made advancements in knowledge graph construction and targeted algorithm development [3] - An intelligent teaching engine based on domestic large model technology has been developed, significantly enhancing course production efficiency and teaching quality [3] Regulatory Issues - On December 20, 2024, Dou Shen Education received a notice from the China Securities Regulatory Commission regarding an investigation for suspected violations of information disclosure laws [4] - Investors who suffered losses due to the company's alleged misconduct may be eligible for compensation if they purchased shares between the company's listing and December 20, 2024 [4] Intellectual Property and Market Engagement - Dou Shen Education has participated in 23 bidding projects and holds 112 trademark registrations [5]

股票代码：300010 股票简称：豆神教育 豆神教育科技（北京）股份有限公司 投资者关系活动记录表 编号：2025-001 投资者关系活动类 别 □特定对象调研 □分析师会议 □媒体采访 √业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他 （请文字说明其他活动内容） 参与单位名称及人 员姓名 线上参与豆神教育 2024 年年度网上业绩说明会的投资 者 时间 2025 年 05 月 16 日（星期五）下午 15:00-17:00 地点 "豆神教育投资者关系"微信小程序 上市公司接待人员 姓名 董事长：窦昕先生 董事兼首席执行官（CEO）：赵伯奇先生 独立董事：杨博乐先生 财务总监：李冠超先生 董事会秘书兼副总裁：崔霄雨先生 投资者关系活动主要内容介绍 1、高管您好。请问贵公司本期财务报告中，盈利表现如何？谢谢。 答：尊敬的投资者您好，公司 2024 年度实现归属于上市公司股东的净利润 1.37 亿元，同比增长 334.04%；实现扣非净利润 1.00 亿元，同比增长 119.86%。感 谢您的提问。 2、贵公司在 AI 教育方面有哪些核心优势？ 答：尊敬的投资者您好，公司 AI 教育方面的核心优势体现在 ...

重整旗鼓展新颜，AI 课程具巧思 [Table_CoverStock] —豆神教育(300010)公司首次覆盖报告 [Table_ReportDate] 2025 年 05 月 14 日 [Table_CoverAuthor] 范欣悦 教育人服行业首席分析师 S1500521080001 fanxinyue@cindasc.com 证券研究报告 公司研究 [Table_ReportType] 公司首次覆盖报告 [Table_StockAndRank] 豆神教育(300010) 投资评级 买入 上次评级 无 [Table_BaseData] 公司主要数据 | 收盘价（元） | 7.38 | | --- | --- | | 52 周内股价波动区间 | 12.96-2.38 | | (元) | | | 最近一月涨跌幅(％) | 4.83 | | 总股本(亿股) | 20.67 | | 流通 A 股比例(％) | 80.49 | | 总市值(亿元) | 152.52 | | 资料来源：聚源，信达证券研发中心 | | 信达证券股份有限公司 CINDA SECURITIES CO.,LTD 北京市西城区宣武门西大街甲12 ...

5月13日，北京市密云区"双师课堂"项目学校工作推进会在北京市朝阳区实验小学密云学校召开。会议 议程包括资源型双师教学观摩、市区合作办学双师教学观摩以及解读《密云区关于推进"双师课堂"工作 指导意见》等。 【3】西安印发科技类校外培训机构准入指引 【1】北京发布"中小学生身心健康二十条" 5月13日，据"首都教育"微信公众号消息，日前，北京市委教育科技人才工作领导小组印发《关于促进 中小学生身心健康发展的若干意见》，首次对学生身心健康进行一体谋划部署，同步提升学生强健体魄 和积极心理品质。在学校育人方面，"身心健康二十条"提出，组织形式多样的班集体活动，积极支持学 生融入学校、融入团体，建立学习小组、兴趣小组、学生社团、"学伴"等互助机制，每名学生至少参加 1个兴趣小组或社团。 【2】北京密云召开"双师课堂"项目推进会 5月13日，学大教育发布公告，截至当日，公司通过回购专用证券账户以集中竞价交易方式累计回购公 司股份数量近130万股，占公司目前总股本的1.07%，其中最高成交价为52.74元/股，最低成交价为48.5 元/股，支付总金额为6470.7万元（不含交易费用）。 【5】豆神教育融资余额创近一年新高 ...

证券代码：300010 证券简称：豆神教育 公告编号：2025-019 豆神教育科技（北京）股份有限公司 特此公告。 豆神教育科技（北京）股份有限公司董事会 2025 年 5 月 7 日 1 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。 豆神教育科技（北京）股份有限公司（以下简称"公司"）董事会于近日收到公 司独立董事陈重先生的书面辞职报告。因个人原因，陈重先生申请辞去公司第六届 董事会独立董事之职，同时辞去第六届董事会薪酬与考核委员会主任委员、提名委 员会委员职务。辞职后，陈重先生不再公司担任任何职务。 陈重先生的辞职将导致公司独立董事人数占董事会全体成员的比例低于三分之 一、董事会下属薪酬与考核委员会及提名委员会独立董事成员未超过半数，根据《公 司法》等相关法律法规和《公司章程》的有关规定，陈重先生的辞职报告将在公司 股东大会选举产生新任独立董事填补其空缺后生效。在新任独立董事就任前，陈重 先生将按照法律法规和《公司章程》等有关规定继续履行职责。 独立董事陈重先生原定任期届满日为 2027 年 5 月 22 日。截至本公告披露日， 陈重先生未持有公司股份 ...

Summary of Key Points from the Conference Call Industry Overview - The conference call focuses on the **media industry** and highlights significant opportunities in **AI** and **AI glasses** for the second quarter and second half of 2025, particularly following positive guidance from President Xi Jinping regarding AI glasses, which may catalyze the industry [1][2] - The **gaming sector** is noted for its strong performance, with several companies exceeding market expectations in the first quarter of 2025 [2] Core Insights and Arguments - **AI and AI Glasses**: The media industry should pay attention to AI and AI glasses, with a projected market size of **4.71 billion** yuan by 2027, and **Inpaas** expected to generate over **90 million** yuan in net profit, contributing to a market capitalization increase of **2.8 billion** yuan [1][5] - **Film and Gaming Projects**: Anticipated summer releases include animated films like **"Three Kingdoms Starry Sky"** and **"Wang Wang Island,"** along with games such as **"One Ring"** and **"SLG 5,000 Years,"** which are expected to drive revenue for related companies [1][4] - **Fengjun Media**: Reported first-quarter revenue of **2.858 billion** yuan, a **4.7%** year-on-year increase, and a net profit of **1.135 billion** yuan, up **9.14%** year-on-year, with a dividend yield exceeding **6%** [1][8] - **Gaming Sector Performance**: The gaming sector reported a profit of **3.476 billion** yuan in Q1 2025, a **41.7%** increase year-on-year, with notable performances from companies like **Kying Network**, **Perfect World**, **ST Huayun**, and **Jibite** [1][11] Additional Important Insights - **Mergers and Acquisitions**: Fengjun Media's recent acquisition of **Xinchao** is expected to enhance overall efficiency and bargaining power, positively impacting future performance [1][9] - **Education Sector**: The education sector is highlighted for its strong domestic demand characteristics, with recommendations to focus on high-performance, high-dividend stocks like **Oriental Education**, which saw a **15%-35%** increase in spring enrollment [2][12] - **Doushen Education**: As the first AI+ education application stock in A-shares, its **AI class** product is expected to launch in Q2, potentially replacing online language courses and driving significant revenue growth [2][15][16] - **Market Dynamics**: The K12 education sector is advised to focus on AI-enabled education, with companies like **Doushen Education** and **Shengtong Co.** showing promise for future growth [2][14][17] This summary encapsulates the key points discussed in the conference call, providing insights into the media and gaming industries, as well as emerging opportunities in AI and education sectors.

Investment Rating - The report assigns an "Accumulate" rating for the company, marking its first coverage [2][10][11]. Core Insights - The company reported a revenue of 760 million yuan for 2024, a year-on-year decrease of 23.8%, while the net profit attributable to shareholders reached 140 million yuan, showing a significant increase of 334% year-on-year [2]. - In Q1 2025, the company achieved a revenue of 190 million yuan, a slight decline of 0.6% year-on-year, with a net profit of 37.37 million yuan, reflecting a growth of 68.1% year-on-year [3]. - The improvement in profitability is attributed to a 46.2% decrease in procurement costs for software, hardware, and services, leading to a 14.2 percentage point increase in overall gross margin [2][10]. Financial Performance Summary - For 2024, the company’s gross margin improved to 46%, with a net profit margin of 18.1%, up by 14.9 percentage points year-on-year [2][11]. - The company’s operating expenses as a percentage of revenue were 29.8% for sales, 12.7% for management, and a reduction in R&D expenses due to increased capitalized expenditures [2]. - The forecast for 2025-2027 indicates expected revenues of 960 million yuan, 1.185 billion yuan, and 1.387 billion yuan, respectively, with net profits projected at 203 million yuan, 293 million yuan, and 372 million yuan [9][10][11]. AI Integration and Product Development - The company has integrated AI into its curriculum, generating revenue of 27.31 million yuan from AI education services in 2024 [4]. - The AI live classes have shown positive feedback during internal testing, enhancing the classroom experience with real-time interaction and monitoring of student engagement [4][8]. Market Performance - As of April 30, 2025, the company's stock price was 7.15 yuan, with a market capitalization of approximately 14.78 billion yuan [6][11]. - Over the past 12 months, the company's stock has outperformed the CSI 300 index, with a return of 173.9% compared to the index's 4.6% [6].