（2025 年 4 月） 华图山鼎设计股份有限公司（以下简称"公司"）为了进一步建立、健全公司长 效激励机制，吸引和留住优秀人才，充分调动公司核心团队的积极性，有效地将股东 利益、公司利益和核心团队个人利益结合在一起，使各方共同关注公司的长远发展， 在充分保障股东利益的前提下，根据《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》"）、《上市公司股权激励管理办法》 （以下简称"《管理办法》"）、《深圳证券交易所创业板股票上市规则》《深圳证券交易 所创业板上市公司自律监管指南第 1 号——业务办理》等有关法律法规和规范性文 件以及《公司章程》的规定，制定了 2025 年限制性股票激励计划。 为保证 2025 年限制性股票激励计划的顺利实施，现根据《公司法》《证券法》《管 理办法》等有关法律法规和规范性文件以及《公司章程》《华图山鼎设计股份有限公 司 2025 年限制性股票激励计划（草案）》的规定，并结合公司的实际情况，特制定本 办法。 一、考核目的 进一步完善公司法人治理结构，建立和完善公司激励约束机制，保证公司 2025 年限制性股票激励计划的顺利实施，并在最 ...

华图山鼎设计股份有限公司 2025 年员工持股计划管理办法 第一章 总则 第一条 为规范华图山鼎设计股份有限公司（以下简称"华图山鼎"或"公 司"）2025 年员工持股计划（以下简称"员工持股计划"或"本持股计划"）的 实施，根据《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》"）、《中国证监会关于上市公司实 施员工持股计划试点的指导意见》（以下简称"《指导意见》"）、《深圳证券 交易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》（以下简称 "《自律监管指引第 2 号》"）等相关法律、行政法规、规章、规范性文件和《华 图山鼎设计股份有限公司章程》（以下简称"《公司章程》"）、《华图山鼎设 计股份有限公司 2025 年员工持股计划（草案）》之规定，特制定《华图山鼎设 计股份有限公司 2025 年员工持股计划管理办法》（以下简称"本办法"）。 第二章 员工持股计划的制定 第二条 员工持股计划的基本原则 （一）依法合规原则 公司实施员工持股计划，严格按照法律、行政法规的规定履行程序，真实、 准确、完整、及时地实施信息披露。任何人不得利用员工持股计划进 ...

Financial Performance - The company's revenue for Q1 2025 was ¥826,994,785.21, representing an increase of 18.91% compared to ¥695,465,400.35 in the same period last year[5]. - Net profit attributable to shareholders was ¥121,447,627.68, a significant increase of 67.38% from ¥72,558,354.23 year-on-year[5]. - The net profit after deducting non-recurring gains and losses reached ¥117,667,362.35, up 107.04% from ¥56,834,191.92 in the previous year[5]. - Basic earnings per share increased by 65.38% to ¥0.86 from ¥0.52 year-on-year[5]. - Total operating revenue for the current period reached ¥826,994,785.21, an increase of 18.9% compared to ¥695,465,400.35 in the previous period[13]. - Net profit for the current period was ¥121,447,627.68, representing a 67.2% increase from ¥72,558,354.23 in the previous period[14]. - The total comprehensive income for the current period was ¥121,447,627.68, compared to ¥72,558,354.23 in the previous period, reflecting strong overall performance[15]. Cash Flow and Investment - The company's cash flow from operating activities decreased by 57.60%, amounting to ¥142,767,695.43 compared to ¥336,745,234.06 in the same period last year[5]. - Cash flow from operating activities generated a net amount of ¥142,767,695.43, down from ¥336,745,234.06 in the previous period[16]. - The net cash flow from investment activities was $97,788,452.32, compared to a negative cash flow of -$384,737,860.18 in the previous period, indicating a significant improvement[17]. - The cash inflow from investment activities amounted to $911,337,485.30, while cash outflows were $813,549,032.98, resulting in a net cash inflow of $97,788,452.32[17]. - The company reported a cash distribution of $28,097,294.00 in dividends and interest payments during the financing activities[17]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,008,552,546.77, reflecting a growth of 7.58% from ¥1,866,997,188.81 at the end of the previous year[5]. - The company's total assets as of March 31, 2025, amount to CNY 2,008,552,546.77, an increase from CNY 1,866,997,188.81 at the beginning of the period[10]. - The total current assets are CNY 1,301,874,937.80, up from CNY 1,153,147,701.14[10]. - The total non-current assets decreased to CNY 706,677,608.97 from CNY 713,849,487.67[11]. - The total current liabilities are CNY 1,263,194,168.50, slightly increased from CNY 1,256,217,119.20[11]. - Total liabilities rose to ¥1,627,227,760.24, compared to ¥1,579,022,735.96 in the previous period, reflecting a growth of 3.1%[12]. Shareholder Information - The company's total equity attributable to shareholders rose by 32.42% to ¥381,324,786.53 from ¥287,974,452.85 at the end of the previous year[5]. - The total number of common shareholders at the end of the reporting period is 4,033[9]. - The largest shareholder, Tianjin Huatu Hongyang Enterprise Management Co., Ltd., holds 51.00% of shares, totaling 71,648,100 shares, with 64,366,580 shares pledged[9]. - The company's total equity attributable to shareholders increased to ¥381,324,786.53 from ¥287,974,452.85, marking a growth of 32.4%[12]. Research and Development - Research and development expenses surged by 511.59% to ¥35,694,032.71, compared to ¥5,836,268.22 in the same period last year, mainly due to an increase in R&D personnel[8]. - Research and development expenses increased significantly to ¥35,694,032.71, up from ¥5,836,268.22, indicating a focus on innovation[13]. Taxation - The company reported a 12507.40% increase in income tax expenses, totaling ¥34,087,712.32, up from ¥270,378.59, driven by a rise in total profit[8]. Inventory and Receivables - The company reported a decrease in inventory from CNY 23,608,442.90 to CNY 13,349,794.95[10]. - Accounts receivable increased to CNY 208,936,545.33 from CNY 193,754,043.38[10]. - The company's contract liabilities rose to CNY 833,941,539.17 from CNY 779,349,814.11[11]. Audit Status - The company has not yet audited its first-quarter report for 2025, which may impact the reliability of the financial data presented[18].

Financial Performance - The company's operating revenue for 2024 reached ¥2,832,798,778, representing a 1,046.34% increase compared to ¥247,117,419 in 2023[17]. - Net profit attributable to shareholders was ¥52,992,079.60, a significant turnaround from a loss of ¥91,968,662.29 in the previous year, marking a 157.62% improvement[17]. - The net profit after deducting non-recurring gains and losses was ¥24,446,376.98, up 123.09% from a loss of ¥105,895,804.41 in 2023[17]. - The cash flow from operating activities showed a net inflow of ¥824,170,813.12, a 323.93% increase from ¥194,410,743.89 in the previous year[17]. - Basic and diluted earnings per share improved to ¥0.38, compared to a loss of ¥0.65 in 2023, reflecting a 158.46% increase[17]. - The total assets of the company at the end of 2024 were ¥1,866,997,188.81, an 82.87% increase from ¥1,020,926,050.17 in 2023[17]. - The net assets attributable to shareholders increased by 37.38% to ¥287,974,452.85 from ¥209,614,521.24 in the previous year[17]. - The weighted average return on equity improved to 20.94%, up 56.77% from -35.83% in 2023[17]. Revenue Breakdown - The company reported a quarterly revenue breakdown with Q1 at ¥695,465,400.35, Q2 at ¥810,564,516.38, Q3 at ¥624,845,702.12, and Q4 at ¥701,923,159.15[19]. - In 2024, the company's non-operating income from non-recurring transactions amounted to CNY 25,485,848.54, an increase of 90.5% compared to CNY 13,362,341.42 in 2023[23]. - The total revenue from the construction engineering design and consulting services was impacted by a 10.6% decline in national real estate development investment, totaling CNY 1,002.8 billion in 2024[27]. - The new residential sales area decreased by 12.9% year-on-year, with a total of 97,385 million square meters sold in 2024[27]. - The company has seen a 17.1% decline in new residential sales revenue, totaling CNY 967.5 billion in 2024[27]. Vocational Education Focus - The company is focusing on vocational education, which has received multiple policy supports aimed at enhancing the quality of vocational training and aligning it with national strategic needs[32]. - The government emphasized the importance of employment stability, with over 11.7 million college graduates in 2024, necessitating enhanced employment support measures[31]. - The company is committed to expanding its market presence in vocational training, supported by recent reforms aimed at improving the vocational education system[32]. - The Chinese vocational education market size grew from RMB 604.5 billion in 2018 to RMB 871.9 billion in 2022, with a CAGR of 9.6%[33]. - The non-degree vocational education market size increased from RMB 120.5 billion in 2016 to RMB 221.5 billion in 2021, achieving a CAGR of 12.9%[33]. - The number of participants in non-degree vocational education rose from 25.4 million in 2016 to 36.8 million in 2021, with a CAGR of 7.7%[33]. AI and Technology Integration - The company has established an AI department to enhance its AI strategy across various operational segments, including teaching and management[37]. - The company has developed multiple AI applications, such as AI interview and AI essay grading, significantly improving operational efficiency[37]. - The company is integrating AI technology into classroom learning assessments and feedback processes to enhance service timeliness and relevance[48]. - The company aims to leverage AI technology to improve operational efficiency and provide personalized learning services for students[121]. - The company is enhancing its technological capabilities to support new educational products and services[181]. Governance and Management - The company maintains an independent business system and does not rely on controlling shareholders or related parties[152]. - The company has a complete and independent financial accounting department, capable of making independent financial decisions[156]. - The company’s governance structure includes an independent shareholders' meeting, board of directors, supervisory board, and management team[155]. - The company’s independent directors actively participated in meetings and provided valuable insights for the company's development[148]. - The company’s governance practices align with legal and regulatory requirements, with no significant discrepancies identified[150]. - The company announced a change in leadership with the election of new board members and executives on November 14, 2024, including the appointment of Wu Zhenggao as Chairman and Yi Xiaoying as General Manager[160]. Employee and Training Initiatives - The total number of employees at the end of the reporting period is 10,425, with 98 in the parent company and 10,327 in major subsidiaries[193]. - The professional composition includes 1,235 management personnel, 864 R&D personnel, and 3,190 teaching staff[193]. - New teachers undergo a rigorous 3-month training program with a 40% elimination rate before qualifying for teaching positions[197]. - Existing teachers must participate in annual assessments with a 10% mandatory elimination rate to ensure proficiency in new products[197]. - Management training is tiered and categorized, with specific programs for potential leaders to prepare them for future roles[200]. Strategic Growth and Market Expansion - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by 2025[167]. - New product launches are expected to contribute an additional 200 million RMB in revenue over the next fiscal year[168]. - The company is actively pursuing mergers and acquisitions to bolster its market position and expand its service capabilities[181]. - The company is focusing on expanding its market presence through strategic appointments and leadership restructuring[181]. - The company plans to introduce "installment payment" courses to improve product competitiveness and meet market demand[64].

华图山鼎设计股份有限公司 关于控股股东部分股份质押及解质押的公告 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。 华图山鼎设计股份有限公司（以下简称"公司"）近日收到控股股东天津华图宏阳企业管 理有限公司（以下简称"天津华图企管"）的通知，获悉其已将所持有的公司部分股份办理了 股票质押式回购购回解除质押（以下简称"解质押"）以及股票质押式回购初始质押，相关质 押及解除质押手续已办理完毕，本次质押及解质押变动完成后，天津华图企管累计质押的股份 数量以及占其持有公司股份的比例与前次相比未发生变化，具体事项如下： 证券代码：300492 证券简称：华图山鼎 公告编号：2025-011 2、股东本次股份解质押情况 | 股东 | 是否为控股股东或 第一大股东及其一 | 本次解除质押数 | 占其所持 | 占公司总股 | 起始日 | 解除日期 | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | | 量（股） | 股份比例 | 本比例 | | | | | | 致行动人 | | | | | | | | ...

华图山鼎设计股份有限公司（以下简称"公司"）近日收到控股股东天津华图宏阳企业管 理有限公司（以下简称"天津华图企管"）的通知，获悉其已将所持有的公司部分股份质押， 并将部分股份解除质押，相关质押及解除质押手续已办理完毕，具体事项如下：现将具体内容 公告如下： 一、股东股份质押及解质押的基本情况 | 股东 | 是否为控股 股东或第一 | 本次质押数 | 占其所 持股份 | 占公司总 | 是否为 限售股 | 是否为 | 质押 | 质押 | 质权人 | 质押用途 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 大股东及其 | 量（股） | | 股本比例 | | 补充质押 | 起始日 | 到期日 | | | | | 一致行动人 | | 比例 | | 份 | | | | | | | 天津华 | 是 | 15,000,000 | 20.94% | 10.68% | 否 | 是 | 2025 年 4 月 14 | 办理解除 质押登记 | 北京银行股 份有限公司 | 补充质押 | | 图企管 | | | | | | | ...

证券代码：300492 证券简称：华图山鼎 公告编号：2025-009 华图山鼎设计股份有限公司 关于控股股东部分股份质押的公告 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。 华图山鼎设计股份有限公司（以下简称"公司"）近日收到控股股东天津华图宏阳企业管 理有限公司（以下简称"天津华图企管"）的通知，获悉其已将所持有的公司部分股份质押， 相关质押手续已办理完毕，现将具体内容公告如下： 一、股东股份质押的基本情况 1、股东本次股份质押情况 | | 是否为控股 | | | | 是否为 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东 | 股东或第一 | 本次质押数量 | 占其所持股 | 占公司总 | 限售股 | 是否为 | 质押 | 质押 | 质权人 | 质押 | | 名称 | 大股东及其 | （股） | 份比例 | 股本比例 | | 补充质押 | 起始日 | 到期日 | | 用途 | | | 一致行动人 | | | | 份 | | | | | ...

证券代码：300492 证券简称：华图山鼎 公告编号：2025-008 华图山鼎设计股份有限公司 关于控股股东部分股份解除质押的公告 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。 华图山鼎设计股份有限公司（以下简称"公司"）近日收到控股股东天津华图宏阳企业管 理有限公司（以下简称"天津华图企管"）的通知，获悉其已将质押给兴业银行股份有限公司 北京西城支行的部分股份办理了解除质押手续，具体事项如下： 一、股东股份解除质押的基本情况 1、股东本次股份解除质押情况 华图山鼎设计股份有限公司 董事会 | 股东 | 是否为控股股东 或第一大股东及 | 本次解除质押 | 占其所持 | 占公司总 | 起始日 | 解除日期 | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | | 数量（股） | 股份比例 | 股本比例 | | | | | | 其一致行动人 | | | | | | | | 天津华图 | 是 | 34,366,580 | 47.97% | 24.46% | 2021 年 11 月 | ...

华图山鼎设计股份有限公司 关于控股股东部分股份质押的公告 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。 特别风险提示： 近日，华图山鼎设计股份有限公司（以下简称"公司"）的控股股东天津华图宏阳企业 管理有限公司（以下简称"天津华图企管"）因办理置换前期质押融资（具体为：兴业银行 股份有限公司北京西城支行并购贷款担保），向北京银行股份有限公司北京经济开发区分行 质押了持有的部分公司的股份。截至本公告披露日，天津华图企管前期质押的解质押工作尚 在办理中，天津华图企管累计质押所持公司股份数量（含本次）占其所持公司股份数量比例 超过 80%，请投资者注意相关风险。 证券代码：300492 证券简称：华图山鼎 公告编号：2025-007 公司近日收到控股股东天津华图企管的通知，获悉其已将其所持有的公司部分股份质押， 相关质押手续已办理完毕，现将具体内容公告如下： 一、股东股份质押的基本情况 1、股东本次股份质押情况 | 股东 | 是否为控股 股东或第一 | 本次质押数 | 占其所持 | 占公司总 | 是否为 | 是否为 | 质押 | 质押 | | 质押用 | | -- ...

Investment Rating - The report maintains a "Recommended" rating for the company [5][7]. Core Viewpoints - The company has transformed into a new leader in offline civil service examination training, leveraging its strategic shift towards vocational education and extensive resource support from its major shareholder [1][5]. - The civil service examination training market is experiencing strong demand, with the company rapidly gaining market share due to the decline of its main competitor, and it is expected to expand into new training areas [2][5]. - The company has established a robust national network for vocational training, focusing on civil service, public institutions, and healthcare systems, which has led to significant revenue growth [3][5]. Summary by Sections Company Overview - The company, originally focused on architectural design, has undergone a strategic transformation to become a leader in civil service examination training, supported by its major shareholder's resources [1][11]. - The major shareholder has transferred various intangible assets related to vocational training to the company, facilitating its entry into the non-degree training market [1][3][46]. - The company has rapidly established over 1,000 training centers across 31 provinces, significantly expanding its operational footprint [1][19]. Industry Analysis - The vocational training market is characterized by strong demand, with a shift in market leadership occurring as competitors struggle [2][39]. - Government policies are increasingly supportive of vocational training, contributing to rapid growth in the non-degree training sector [28][31]. - The number of college graduates is at a record high, driving demand for examination training, particularly in competitive fields like civil service [35][36]. Financial Analysis - The company has a strong asset base with high liquidity, and its cash flow is robust due to a prepayment business model [4][5]. - Revenue from non-degree training has surged, with projections indicating continued growth in the coming years [3][5][6]. - The company is expected to achieve significant revenue growth, with forecasts indicating revenues of 27.01 billion, 33.28 billion, and 41.60 billion yuan for 2024, 2025, and 2026, respectively [5][6].