公司首款儿童智能硬件产品"阳仔"AI陪伴机定位于4-8岁儿童的成长伙伴，以"懂孩子、伴成长"为核心 理念。公司携手阿里云共创儿童专属AI智能体，并联合儿童心理学专家及香港中文大学（深圳）冥想 研究中心MOCICI深度合作，聚焦儿童专注力与情绪管理的培养。区别于传统AI设备，"阳仔"采用拟人 化交互逻辑，打造"能听懂、会回应、善引导"的儿童专属AI伙伴。该产品具备情绪识别与共情回应、童 趣化自然对话和成长引导三大核心能力，既能理解孩子的情绪并温暖回应，又能以契合认知规律的交流 方式进行互动，同时在习惯养成、情绪安抚和专注力培养等方面持续赋能，帮助儿童逐步形成稳定的心 理基础与良好的适应能力。 "开口喵"AI口语系统专为6-15岁学生设计，深度融合生成式AI与数字人技术，提供"剑桥标准课程+自由 对话+趣味训练"三维口语提升方案。通过实时纠错、情感交互、学情跟踪，解决"哑巴英语"痛点，实 现"开口提分"双目标。"同步喵"是一款基于小学英语知识学习设计的移动端学习平台，利用人工智能技 术，配套学、练、测资源，为用户提供单词、句型、口语、语法、听力等多维度英语学习功能，同时具 备新课标主题情景对话演绎功能。该产品从易 ...

关于公司发布新产品的公告 证券代码：300235 证券简称：方直科技 公告编号：2025-055 深圳市方直科技股份有限公司 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、 误导性陈述或者重大遗漏。 公司本次推出的"阳仔"AI 陪伴机、"开口喵"及"同步喵"三款新产品，标志着公司从 传统中小学教育领域向儿童成长陪伴与家庭智能教育生态的战略性拓展。不仅为公司开 辟了学前与低龄儿童情感陪伴这一全新赛道，更通过"硬件+内容+服务"的深度融合，构 建了覆盖情感发展、学科同步与能力提升的立体化产品矩阵。 公司长期深耕中小学教育领域，拥有扎实的教育资源基础与丰富的教学实践经验， 深知科学陪伴与情感连接对孩子成长的重要性。随着 AI 技术的深入发展，公司将教育 理念、内容优势与智能科技深度融合，推动儿童智能陪伴产品的标准化与专业化。"阳 仔"AI 陪伴机的发布不仅标志着公司在儿童智能陪伴领域迈出关键一步，也意味着公司 在家庭教育场景的拓展和教育资源数字化应用探索进入新阶段。通过硬件、内容与服务 的协同，公司将持续巩固在教育与智能科技交叉领域的创新优势，致力于成为儿童智能 陪伴的领先品牌，为家庭育儿 ...

据了解，"阳仔"的研发初衷坚持围绕4至8岁儿童成长的三大核心维度心理发展、社交表达、习惯养成展 开，希望以智能陪伴的形式，为这一关键期的孩子提供适宜支持。刘东胜认为，4至8岁是儿童成长 的"奠基阶段"，心理健康状态会影响后续成长的心理基调，日常习惯建立关系到生活秩序认知，顺畅的 社交表达则是融入集体的基础，这三点直接关联孩子未来的学习适应与社会融入能力。"我们不做知识 灌输，而是通过陪伴式互动，帮孩子逐步建立内在稳定感与外在适应力。" 2025云栖大会9月24日至26日在杭州盛大启幕。方直科技（300235）携旗下重磅产品"阳仔AI陪伴 机"（简称"阳仔"）登场。这款产品不仅将为大会AI板块注入儿童陪伴场景的创新活力，更让市场对"AI 如何深度赋能低龄儿童成长陪伴"充满期待。 不同于市场上部分偏向教育功能的儿童智能设备，方直科技明确将"阳仔"定位为儿童陪伴产品，专为4 至8岁低龄儿童量身打造。这款产品以自然语言处理、情感计算等前沿AI技术为核心，结合儿童心理学 研究成果，跳出"功能化工具"的局限，构建起"懂孩子、能共情、伴成长"的智能陪伴生态。 方直科技AI消费电子事业部总经理刘东胜介绍，"阳仔"的核心竞争力 ...

Financial Performance - The company reported total revenue of 30.57 million yuan for the first half of 2025, a decrease of 28.03% year-on-year [1] - The net profit attributable to shareholders was 3.01 million yuan, down 69.36% compared to the previous year [1] - In Q2 2025, total revenue was 7.06 million yuan, reflecting a decline of 43.63% year-on-year, with a net profit of -3.54 million yuan, a staggering drop of 7626.53% [1] - The gross margin was 82.05%, down 3.91% year-on-year, while the net margin fell to 9.86%, a decrease of 57.33% [1] - Total expenses (selling, administrative, and financial) amounted to 13.90 million yuan, accounting for 45.47% of revenue, an increase of 13.36% year-on-year [1] Cash Flow and Debt - The net cash flow from operating activities decreased by 55.34%, attributed to reduced cash receipts from sales and related activities [3] - The company’s cash assets are reported to be very healthy, indicating a strong ability to meet short-term obligations [4] Business Model and Strategy - The company relies heavily on research and marketing to drive its performance, necessitating a thorough examination of the underlying factors behind these drivers [5] - Plans to develop smart education products include creating integrated solutions for educational digitalization and smart upgrades, collaborating with vocational schools and research institutions [6] - The company aims to launch consumer electronic products designed for children by 2025, focusing on emotional support, psychological guidance, and personalized learning experiences [6]

Summary of Key Points Core Viewpoint - The company announced that the performance conditions for the first vesting period of the 2024 restricted stock incentive plan were not met, resulting in the cancellation and expiration of certain granted but unvested restricted stocks [1][7]. Group 1: Overview of the 2024 Restricted Stock Incentive Plan - The 2024 restricted stock incentive plan was approved on May 13, 2024, allowing the grant of 988,900 shares to three incentive targets, representing 0.3928% of the company's total share capital of 251,746,635 shares [1][2]. - The grant price was set at 4.43 yuan per share, with a maximum validity period of 36 months, divided into two vesting periods, each with a 50% vesting ratio [1][2]. Group 2: Granting and Adjustment of Restricted Stocks - On May 17, 2024, the company granted a total of 988,900 restricted stocks to three incentive targets, with the distribution confirmed by the supervisory board [2]. - The grant price was adjusted from 4.48 yuan to 4.43 yuan due to the implementation of the 2023 annual profit distribution plan [2]. Group 3: Performance Conditions and Non-Achievement - The performance conditions for the first vesting period required a 10% increase in revenue compared to 2023 as a trigger value and a 25% increase as a target value [5][6]. - The company reported a revenue of 92,147,310.26 yuan for 2024, which represented a 9.43% decrease from 2023, failing to meet the performance conditions [7]. Group 4: Cancellation of Restricted Stocks - The board of directors approved the cancellation of 494,450 shares of restricted stock that were to vest in the first period due to the unmet performance conditions [7][8]. - The decision was made in compliance with relevant laws and regulations, and it was confirmed that this cancellation would not adversely affect the company's operations or core team stability [8][9]. Group 5: Legal and Compliance Aspects - The legal opinion confirmed that the cancellation of unvested restricted stocks was in accordance with the company's incentive plan and relevant regulations [8][9]. - The company has fulfilled its disclosure obligations regarding this matter and will continue to comply with legal requirements for information disclosure [9].

Group 1 - The core viewpoint of the article is that Fangzhi Technology (300235.SZ) reported a significant decline in both revenue and net profit for the first half of 2025 compared to the same period last year [1] Group 2 - The company achieved operating revenue of 30.5693 million yuan, representing a year-on-year decrease of 28.03% [1] - The net profit attributable to shareholders of the listed company was 3.0076 million yuan, down 69.36% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 67298 yuan, reflecting a 90.00% year-on-year decline [1] - The basic earnings per share were 0.01 yuan [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。 深圳市方直科技股份有限公司《2025 年半年度报告》及《2025 年半年度报 告摘要》于 2025 年 8 月 26 日在中国证监会指定的创业板信息披露网站巨潮资讯 网（www.cninfo.com.cn）上披露，敬请投资者注意查阅。 特此公告。 深圳市方直科技股份有限公司 董事会 2025 年 8 月 26 日 证券代码：300235 证券简称：方直科技 公告编号：2025-051 深圳市方直科技股份有限公司 关于 2025 年半年度报告披露的提示性公告 ...

深圳市方直科技股份有限公司 | 总计 | - | - | - | - | - | - | - | - | - | - | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 其他关联资金往来 | 资金往来方名称 | 往来方与上市公司的 关联关系 | 上市公司 核算的会 计科目 | 2025 年期 初往来资 金余额 | 2025 年半年 度往来累计 发生金额 （不含利 | 2025 年半 年度往来 资金的利 息（如有） | 2025 年半年 度偿还累计 发生金额 | 2025 年半年 度期末往来 资金余额 | 往来形成 原因 | 往来性质 | | | | | | | 息） | | | | | | | 控股股东、实际控制人及其 附属企业 | 无 | - | - | - | - | - | - | - | - | - | | 小计 | - | - | - | - | - | - | - | - | - | - | | 上市公司的子公司及其附 属企业 | 深圳市木愚科技有限公司 | 子公司 | 其他应收款 | 800.00 | 7 ...

证券代码：300235 证券简称：方直科技 公告编号：2025-054 本次会议以书面记名投票方式进行表决，经与会董事们认真审议通过以下决议： 1、审议通过《关于 2025 年半年度报告及其摘要的议案》 全体董事一致认为公司《2025 年半年度报告》及其摘要的编制程序、内容、格式符 合相关文件的规定；2025 年半年度报告编制期间，未有泄密及其他违反法律法规、《公 司章程》或损害公司利益的行为发生；公司的财务报告真实、准确、完整地反映了公司 的财务状况和经营成果，不存在任何虚假记载、误导性陈述或者重大遗漏。 表决结果：同意票 7 票，反对票 0 票，弃权票 0 票 深圳市方直科技股份有限公司 第六届董事会第三次会议决议公告 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 深圳市方直科技股份有限公司（以下简称"公司"）第六届董事会第三次会议的通知 已于 2025 年 8 月 11 日以电话、邮件等方式通知全体董事。本次会议于 2025 年 8 月 22 日在公司会议室以现场方式召开。本次会议应出席董事 7 名，实际出席董事 7 名。本次 ...

[Important Notes, Table of Contents, and Definitions](index=2&type=section&id=Important%20Notes%2C%20Table%20of%20Contents%2C%20and%20Definitions) This section provides essential disclaimers, outlines the report's structure, lists reference documents, and defines key terms used throughout the report [Important Notes](index=2&type=section&id=Important%20Notes) The board and senior management guarantee the report's truthfulness, accuracy, and completeness, with no plans for cash dividends or bonus shares - The company's board of directors and senior management guarantee the truthfulness, accuracy, and completeness of the report, assuming legal responsibility[4](index=4&type=chunk) - Company head Huang Yuanzhong, chief accountant He Linying, and head of accounting department Shan Qiuping declare the financial report is true, accurate, and complete[4](index=4&type=chunk) - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital[5](index=5&type=chunk) [Table of Contents](index=3&type=section&id=Table%20of%20Contents) This chapter lists the report's eight main sections and their starting page numbers, covering important notes, company profile, management discussion and analysis, corporate governance, significant matters, share changes, bond information, and financial reports - The report is divided into eight main chapters, covering various aspects such as company operations, finance, governance, and significant matters[7](index=7&type=chunk) [Reference Documents](index=4&type=section&id=Reference%20Documents) This chapter lists reference documents available for inspection during the reporting period, including signed financial statements, original public disclosure documents, the semi-annual report, and other related materials, located at the company's securities affairs department - Reference documents include signed and sealed financial statements, original drafts of documents publicly disclosed on the CSRC-designated website, the original semi-annual report text, and other relevant materials[9](index=9&type=chunk)[10](index=10&type=chunk)[11](index=11&type=chunk)[12](index=12&type=chunk) - All reference documents are kept at the company's securities affairs department[13](index=13&type=chunk) [Definitions](index=5&type=section&id=Definitions) This chapter defines common terms used in the report, including company names, controlling shareholders, regulatory bodies, laws, accounting firms, subsidiary names, and specific timeframes for the reporting period and prior year, noting potential rounding differences in data - **"Company"**, **"this Company"**, or **"FangZhi Technology"** all refer to Shenzhen FangZhi Technology Co., Ltd[14](index=14&type=chunk) - The reporting period refers to the first half of **2025**, and the prior year period refers to the first half of **2024**[14](index=14&type=chunk) - Data listed in the report may have slight rounding differences when compared to the direct sum of individual items[14](index=14&type=chunk) [Company Profile and Key Financial Indicators](index=6&type=section&id=Company%20Profile%20and%20Key%20Financial%20Indicators) This section provides the company's basic information, contact details, key financial performance indicators, and details on non-recurring gains and losses [Company Profile](index=6&type=section&id=Company%20Profile) This chapter introduces the company's basic information, including stock abbreviation, code, listing exchange, Chinese and English names, and legal representative Huang Yuanzhong Company Basic Information | Indicator | Content | | :--- | :--- | | Stock Abbreviation | FangZhi Technology | | Stock Code | 300235 | | Stock Listing Exchange | Shenzhen Stock Exchange | | Company's Chinese Name | Shenzhen FangZhi Technology Co., Ltd. | | Company's Legal Representative | Huang Yuanzhong | [Contact Persons and Information](index=6&type=section&id=Contact%20Persons%20and%20Information) This chapter provides contact information for the company's Board Secretary Li Feng and Securities Affairs Representative Zhou Jinjiao, including address, phone, fax, and email Company Contact Information | Position | Name | Contact Address | Phone | Fax | Email | | :--- | :--- | :--- | :--- | :--- | :--- | | Board Secretary | Li Feng | 9F, Block B, Innovation Tower, No. 198 Daxin Road, Nanshan District, Shenzhen | 0755-86336966 | 0755-86336977 | feng.li@kingsunsoft.com | | Securities Affairs Representative | Zhou Jinjiao | 9F, Block B, Innovation Tower, No. 198 Daxin Road, Nanshan District, Shenzhen | 0755-86336966 | 0755-86336977 | jinjiao.zhou@kingsunsoft.com | [Other Information](index=6&type=section&id=Other%20Information) This chapter states that the company's contact information, information disclosure, and reference document locations, as well as registration status, remained unchanged during the reporting period, with details available in the 2024 annual report - The company's registered address, office address, website, email, and other contact information remained unchanged during the reporting period[18](index=18&type=chunk) - Information disclosure and reference document locations remained unchanged during the reporting period[19](index=19&type=chunk) - The company's registration status remained unchanged during the reporting period[20](index=20&type=chunk) [Key Accounting Data and Financial Indicators](index=7&type=section&id=Key%20Accounting%20Data%20and%20Financial%20Indicators) This chapter presents the company's key accounting data and financial indicators for the first half of 2025, showing significant year-on-year declines in operating revenue, net profit, non-recurring net profit, and net cash flow from operating activities, with slight reductions in total assets and net assets attributable to shareholders Key Accounting Data and Financial Indicators (YoY) | Indicator | This Reporting Period (RMB) | Prior Year Period (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 30,569,258.43 | 42,477,883.48 | -28.03% | | Net Profit Attributable to Listed Company Shareholders | 3,007,612.06 | 9,817,456.68 | -69.36% | | Net Profit Attributable to Listed Company Shareholders After Non-recurring Gains/Losses | 672,976.20 | 6,733,018.79 | -90.00% | | Net Cash Flow from Operating Activities | 12,122,071.96 | 27,142,676.96 | -55.34% | | Basic EPS (RMB/share) | 0.01 | 0.04 | -75.00% | | Diluted EPS (RMB/share) | 0.01 | 0.04 | -75.00% | | Weighted Average Return on Net Assets | 0.43% | 1.40% | -0.97% | Key Balance Sheet Indicators (Period-End Comparison) | Indicator | Period-End (RMB) | Prior Year-End (RMB) | YoY Change at Period-End | | :--- | :--- | :--- | :--- | | Total Assets | 703,601,517.55 | 723,296,826.82 | -2.72% | | Net Assets Attributable to Listed Company Shareholders | 695,959,081.56 | 703,681,294.32 | -1.10% | [Differences in Accounting Data under Domestic and Foreign Accounting Standards](index=7&type=section&id=Differences%20in%20Accounting%20Data%20under%20Domestic%20and%20Foreign%20Accounting%20Standards) This chapter states that there are no differences in net profit and net assets between financial reports prepared under international or foreign accounting standards and Chinese accounting standards during the reporting period - The company had no differences in net profit and net assets under domestic and foreign accounting standards during the reporting period[22](index=22&type=chunk)[23](index=23&type=chunk) [Non-recurring Gains and Losses and Amounts](index=7&type=section&id=Non-recurring%20Gains%20and%20Losses%20and%20Amounts) This chapter details the company's non-recurring gains and losses and their amounts for the reporting period, primarily including disposal gains/losses on non-current assets, government grants, fair value changes in financial assets, and wealth management income, totaling 2,334,635.86 RMB Non-recurring Gains and Losses and Amounts | Item | Amount (RMB) | Notes | | :--- | :--- | :--- | | Disposal Gains/Losses on Non-current Assets | -53,605.11 | | | Government Grants Recognized in Profit or Loss | 86,169.55 | Government Grants | | Fair Value Change Gains/Losses and Disposal Gains/Losses of Financial Assets and Liabilities | 1,103,351.28 | Fair Value Change Gain from Wealth Management Products | | Gains/Losses from Entrusted Investments or Asset Management | 1,584,210.87 | Wealth Management Income | | Other Non-operating Income and Expenses | 5.97 | Other | | Less: Income Tax Impact | 385,496.70 | | | **Total** | **2,334,635.86** | | - The company has no other profit or loss items that meet the definition of non-recurring gains and losses, nor has it classified non-recurring gains and losses as recurring gains and losses[26](index=26&type=chunk) [Management Discussion and Analysis](index=9&type=section&id=Management%20Discussion%20and%20Analysis) This section provides an in-depth analysis of the company's main operations, core competencies, financial performance, investment activities, and outlines key risks and mitigation strategies [Main Businesses Engaged by the Company During the Reporting Period](index=9&type=section&id=Main%20Businesses%20Engaged%20by%20the%20Company%20During%20the%20Reporting%20Period) The company is a leading intelligent education service provider in China, focusing on R&D, design, sales, and services for K-12 education products and 'AI + Education Digitalization' products. During the reporting period, the company continued to invest in key projects, actively planned future business growth points, including new product R&D (such as KaiKouMiao, TongBuMiao, FangZhi AI Companion) and market cultivation, and steadily operated its core education business - The company is a leading intelligent education service provider in China, focusing on R&D, design, sales, and services for **K-12 education products** and **"AI + Education Digitalization" products**[28](index=28&type=chunk) - The company actively expands **"AI + Education Digitalization"** related products into higher education, vocational education, finance, and knowledge dissemination fields[28](index=28&type=chunk) - In the first half of **2025**, the company continued to increase investment in new product R&D and talent acquisition, focusing on the development and market cultivation of intelligent education products (**KaiKouMiao**, **TongBuMiao**) and **FangZhi AI Companion**[33](index=33&type=chunk) [Company's Industry Position and Main Businesses](index=9&type=section&id=Company%27s%20Industry%20Position%20and%20Main%20Businesses) The company holds a leading position in intelligent education, building an educational application ecosystem by integrating internal and external resources, focusing on product digitalization, and providing solutions for publishing and distribution enterprises. The company emphasizes channel cooperation and online operations, strengthens performance management and talent development, and empowers education with digital technology to promote educational digital transformation - The company has built an educational application ecosystem in the online education sector with underlying interoperability, data interconnection, and complementary functions[29](index=29&type=chunk) - The company provides digital publishing and distribution solutions for publishing and distribution enterprises, successfully implemented in multiple regions[29](index=29&type=chunk) - The company uses digital technology to provide supporting educational digital resources and services for teachers, students, and parents, helping to improve teaching quality and learning abilities[30](index=30&type=chunk) - The company deepens school-enterprise collaborative education mechanisms, leverages artificial intelligence to promote the improvement of vocational education talent training systems, and actively participates in high-level industry dialogue platforms[31](index=31&type=chunk)[32](index=32&type=chunk) [Main Products and Functions](index=12&type=section&id=Main%20Products%20and%20Functions) The company's main products are divided into K-12 teaching and intelligent education. K-12 teaching products include textbook-matching software, teacher's book-matching software, digital education applications and services, and educational hardware, aiming to provide interactive self-learning solutions. Intelligent education products include AIGC practical training solutions and AI digital course production systems, dedicated to cultivating composite talents and efficiently producing courses. The company will also launch children's AI growth intelligent hardware in 2025 Main Products and Functions | Business Segment | Product Category | Product Description | | :--- | :--- | :--- | | K-12 Teaching | Student Textbook-Matching Software | Matches multiple versions of K-12 textbooks in China, serving student self-study and fostering learning interest | | | Teacher's Book-Matching Software | Improves teaching quality and efficiency | | | Digital Education Applications and Services | Provides students with digital value-added services such as learning, practice, testing, evaluation, and communication | | | Educational Hardware | Improves learning efficiency, enhances learning outcomes and interest | | Intelligent Education | AIGC Practical Training Solution | Based on AI, digital human, and other technologies, provides integrated hardware and software intelligent training equipment to cultivate AIGC industry digital artisans | | | AI Digital Course Production System | AI empowers the entire process of course planning, filming, and creation, building a digital security system and improving course production efficiency | - The company will launch its first children's **AI growth intelligent hardware** in **2025**, designed for **4-8 year olds**, offering emotional companionship and behavioral guidance[43](index=43&type=chunk) - **FangZhi Golden Sun Education Software** utilizes human-computer dialogue, animation simulation, AI diagnosis, and voice comparison technologies to stimulate students' learning interest and cultivate independent learning abilities[44](index=44&type=chunk) - **Muyu Technology's AIGC practical training solution** aims to help vocational colleges cultivate composite talents with cutting-edge technical capabilities and innovative thinking[46](index=46&type=chunk) [Integrated R&D, Production, and Sales Operating Model](index=14&type=section&id=Integrated%20R%26D%2C%20Production%2C%20and%20Sales%20Operating%20Model) The company adopts an integrated R&D, design, and sales operating model, ensuring products closely align with market demand. The R&D model is market-oriented, focusing on AI core technology breakthroughs, and actively responding to national policies by developing HarmonyOS versions of its apps. For production, digital education products are outsourced, while intelligent education software is self-developed and hardware is outsourced. Sales models include education system procurement, direct sales, channel sales, online sales, and co-operations, with intelligent education products primarily relying on channel sales supplemented by direct sales - The company's intelligent education business conducts independent R&D, relying on its postdoctoral innovation practice base and provincial engineering technology research center to tackle core technologies such as **multimodal AIGC**, **intelligent interaction**, and **AI security**[48](index=48&type=chunk) - The company has initiated the R&D of the **"TongBuXue" HarmonyOS version APP** to provide a smoother, more personalized learning experience[49](index=49&type=chunk) - K-12 teaching product sales models are diverse, including education system procurement, direct sales, channel sales, online sales, and co-operations[51](index=51&type=chunk) - Intelligent education business products primarily adopt a channel sales-led, direct sales-supplemented model, serving customers including higher education institutions, vocational colleges, education authorities, and enterprises[52](index=52&type=chunk) [Performance Driving Factors](index=15&type=section&id=Performance%20Driving%20Factors) The company's performance is primarily driven by five factors: national policies and market demand, the education digitalization strategy, vocational education industry-education integration, technological innovation and product development, and market marketing and sales networks. Continuous government promotion of education informatization, the popularization of smart education platforms and AI education applications, support for vocational education industry-education integration policies, the company's sustained R&D investment, and digital marketing strategies collectively drive its business growth - The continuous promotion of education informatization by national policies, coupled with increased demand from students and parents for personalized and efficient learning tools, are significant market drivers for the company's performance growth[53](index=53&type=chunk) - The nation continues to advance the **Education Digitalization Strategy Action**, promoting equitable distribution of quality educational resources and the construction of a lifelong learning system, providing policy support for the company's development[54](index=54&type=chunk)[55](index=55&type=chunk) - The **"Implementation Plan for Empowering and Enhancing Industry-Education Integration in Vocational Education (2024-2026)"** will drive the company's artificial intelligence business development in the vocational education sector[56](index=56&type=chunk) - The company continuously increases R&D investment, promoting the deep integration of artificial intelligence technology with the education industry, forming core technologies with independent intellectual property rights[57](index=57&type=chunk) - The company strengthens its digital marketing strategy, enhancing brand influence and market share through exhibitions, advertising, deepening cooperation with education departments, and improving its customer relationship management system[58](index=58&type=chunk) [Core Competitiveness Analysis](index=16&type=section&id=Core%20Competitiveness%20Analysis) The company, driven by its 'AI + Education Digitalization' dual strategy, has built a closed-loop education technology ecosystem covering product R&D, scenario-based solutions, and full-lifecycle services. Its core competencies include brand and customer resource advantages, core talent advantages, comprehensive product layout advantages, and technological R&D advantages, possessing numerous software copyrights, literary works copyrights, design patents, invention patents, and registered trademarks - The company, driven by its **"AI + Education Digitalization" dual strategy**, has built a closed-loop education technology ecosystem covering product R&D, scenario-based solutions, and full-lifecycle services[58](index=58&type=chunk) - The company boasts a **tens of millions-level teacher-student user ecosystem**, serving **67 million users** across **30 provincial-level administrative regions** and **100+ core cities**[60](index=60&type=chunk) - The company has built an innovation engine with industry-academia-research collaboration, where its postdoctoral innovation practice base ensures technological leadership, its marketing team is experienced, and its composite talent matrix provides strategic support[61](index=61&type=chunk) - The company has built a **"cloud + edge + service" three-in-one full-stack delivery capability**, taking the lead in completing its education digitalization ecosystem layout[62](index=62&type=chunk) - As of the end of the reporting period, the company owned **145 software copyrights**, **31 literary works copyrights**, **9 design patents**, **22 invention patents**, and **79 registered trademarks**[64](index=64&type=chunk) [Main Business Analysis](index=19&type=section&id=Main%20Business%20Analysis) The company's main business faced market changes and business structure adjustments during the reporting period, leading to a 28.03% year-on-year decrease in operating revenue and a 69.36% decline in net profit attributable to the parent company. AI digital product revenue significantly dropped by 88.96%, primarily due to project initiation, implementation, and acceptance cycles. FangZhi Golden Sun Education Software remains the main revenue source, with a gross profit margin of 83.97%. Net cash flow from operating activities decreased by 55.34% Key Financial Data Year-on-Year Changes | Indicator | This Reporting Period (RMB) | Prior Year Period (RMB) | YoY Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 30,569,258.43 | 42,477,883.48 | -28.03% | Primarily due to market changes and business structure impacts during this reporting period | | Net Profit Attributable to Listed Company Shareholders | 3,007,612.06 | 9,817,456.68 | -69.36% | | | Net Cash Flow from Operating Activities | 12,122,071.96 | 27,142,676.96 | -55.34% | Primarily due to decreased cash received from sales of goods, provision of services, and other operating activities this period | | Net Cash Flow from Investing Activities | -66,915,532.18 | 6,535,165.35 | -1,123.93% | Primarily due to the company's rolling purchase of bank wealth management products with idle funds and settlement cycle differences during the reporting period | | Net Increase in Cash and Cash Equivalents | -66,077,557.02 | 11,090,982.41 | -695.78% | | Products or Services Accounting for Over 10% of Revenue | Product or Service | Operating Revenue (RMB) | Operating Cost (RMB) | Gross Profit Margin | YoY Change in Operating Revenue | | :--- | :--- | :--- | :--- | :--- | | FangZhi Golden Sun Education Software | 25,794,212.34 | 4,135,323.00 | 83.97% | -16.90% | | AI Digital Products | 542,963.74 | 337,084.21 | 37.92% | -88.96% | - **AI digital product revenue** significantly decreased by **88.96%** year-on-year, primarily due to factors such as project initiation, implementation, and acceptance cycles[70](index=70&type=chunk)[73](index=73&type=chunk) [Non-Main Business Analysis](index=21&type=section&id=Non-Main%20Business%20Analysis) This chapter states that the company had no non-main business analysis during the reporting period - The company had no non-main business analysis during the reporting period[74](index=74&type=chunk) [Asset and Liability Status Analysis](index=21&type=section&id=Asset%20and%20Liability%20Status%20Analysis) The company's total assets at the end of the reporting period were 703,601,517.55 RMB, a 2.72% decrease from the end of the previous year. Cash and cash equivalents and accounts receivable significantly decreased, while non-current assets due within one year substantially increased. Trading financial assets amounted to 315,441,757.25 RMB at period-end, mainly comprising bank and brokerage wealth management products. Total liabilities were 7,642,435.99 RMB, a significant decrease from the end of the previous year Significant Changes in Asset Composition | Item | Period-End Amount (RMB) | Share of Total Assets | Prior Year-End Amount (RMB) | Share of Total Assets | Change in Proportion | | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 98,166,212.11 | 13.95% | 164,243,769.13 | 22.71% | -8.76% | | Accounts Receivable | 13,131,751.49 | 1.87% | 32,429,273.64 | 4.48% | -2.61% | | Non-current Assets Due Within One Year | 140,626,849.31 | 20.00% | 50,154,452.05 | 6.93% | 13.07% | | Contract Liabilities | 496,178.25 | 0.07% | 4,315,605.75 | 0.60% | -0.53% | Financial Assets Measured at Fair Value | Item | Beginning Balance (RMB) | Fair Value Change Gain/Loss for the Period (RMB) | Amount Purchased This Period (RMB) | Amount Sold This Period (RMB) | Period-End Balance (RMB) | | :--- | :--- | :--- | :--- | :--- | :--- | | Trading Financial Assets | 335,443,471.56 | 1,103,351.28 | 722,000,000.00 | 744,689,276.46 | 315,441,757.25 | - The company's main asset measurement attributes did not undergo significant changes during the reporting period, and there were no asset rights restrictions as of the end of the reporting period[79](index=79&type=chunk) [Investment Status Analysis](index=22&type=section&id=Investment%20Status%20Analysis) The company had no significant equity or non-equity investments during the reporting period. Trading financial assets measured at fair value totaled 315,441,757.25 RMB at period-end, primarily bank and brokerage wealth management products purchased with proprietary funds, with a fair value change gain of 1,103,351.28 RMB for the period. The company's wealth management transactions amounted to 361 million RMB, with 315 million RMB outstanding and no overdue unrecovered amounts Financial Assets Measured at Fair Value | Asset Category | Initial Investment Cost (RMB) | Fair Value Change Gain/Loss for the Period (RMB) | Amount Purchased This Period (RMB) | Amount Sold This Period (RMB) | Other Changes (RMB) | Period-End Balance (RMB) | Source of Funds | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Other | 335,443,471.56 | 1,103,351.28 | 722,000,000.00 | 744,689,276.46 | 1,584,210.87 | 315,441,757.25 | Proprietary Funds | Overview of Wealth Management During the Reporting Period | Specific Type | Source of Wealth Management Funds | Amount of Wealth Management Transactions (RMB '0000) | Outstanding Balance (RMB '0000) | | :--- | :--- | :--- | :--- | | Bank Wealth Management Products | Proprietary Funds | 32,100 | 27,500 | | Brokerage Wealth Management Products | Proprietary Funds | 4,000 | 4,000 | | Total | | 36,100 | 31,500 | - The company had no use of raised funds, derivative investments, or entrusted loans during the reporting period[81](index=81&type=chunk)[83](index=83&type=chunk)[84](index=84&type=chunk) [Major Asset and Equity Sales](index=23&type=section&id=Major%20Asset%20and%20Equity%20Sales) This chapter states that the company did not sell any major assets or equity during the reporting period - The company did not sell any major assets during the reporting period[85](index=85&type=chunk) - The company did not sell any major equity during the reporting period[86](index=86&type=chunk) [Analysis of Major Holding and Participating Companies](index=23&type=section&id=Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) The company's main subsidiaries include Shenzhen Muyu Technology Co., Ltd. and Shenzhen Lianbang Information Technology Co., Ltd., with Jiangxi Xinhua Cloud Education Technology Co., Ltd. as an associate. During the reporting period, Muyu Technology's operating revenue and net profit both significantly declined, primarily due to the project cycle of AI digital products. The company deregistered its controlled subsidiary, Shenzhen FangZhi Education Technology Co., Ltd Major Subsidiaries and Associates Information | Company Name | Company Type | Main Business | Registered Capital (RMB) | Operating Revenue (RMB) | Net Profit (RMB) | | :--- | :--- | :--- | :--- | :--- | :--- | | Shenzhen Muyu Technology Co., Ltd. | Subsidiary | R&D, services, and marketing related to AI + Education | 10,000,000.00 | 528,529.78 | -2,404,709.32 | | Shenzhen Lianbang Information Technology Co., Ltd. | Subsidiary | Trade Services | 2,000,000.00 | 2,029.93 | -137,582.03 | | Jiangxi Xinhua Cloud Education Technology Co., Ltd. | Associate | Vocational Education | 20,700,000.00 | 5,537,323.01 | -7,584,546.77 | - During the reporting period, **Muyu Technology's operating revenue decreased by 88.83%** and **net profit decreased by 142.31%**, primarily due to the project initiation, implementation, and acceptance cycles of AI digital products[87](index=8