Core Insights - The company reported a revenue of 273 million yuan for the first half of 2025, a year-on-year increase of 5.03%, while the net profit attributable to shareholders decreased by 4.60% to 40.78 million yuan, indicating a situation of "increased revenue but decreased profit" [1][2] - The company plans not to distribute dividends or issue new shares for the half-year period [1] - The company aims to develop an industry AI Agent to reconstruct the entire teaching scenario, having fully integrated the DeepSeek large model [2] Financial Performance - The company's revenue from standardized examination products and overall solutions decreased by 11.93% to approximately 154 million yuan, with a slight decline in gross margin [1] - Revenue from smart education products and overall solutions increased by 66.55% to approximately 94.58 million yuan, although the gross margin for this segment fell by 15.07 percentage points to 28.8% [1] - The company incurred employee stock ownership plan expenses of approximately 7.89 million yuan, impacting net profit by about 6.71 million yuan [2] Quarterly Analysis - In Q1 2025, the company experienced a significant revenue decline of 51.82% to 5.5 million yuan, resulting in a net loss of 10 million yuan [2] - In Q2 2025, the company rebounded with a revenue increase of 49.23% to 21.9 million yuan and a net profit increase of 40.3% to 5.1 million yuan [2] Shareholder Changes - Notable changes among the top ten shareholders include an increase of approximately 178,000 shares by Sichuan Development Securities Investment Fund Management Co., and an increase of about 32,600 shares by Yin Hui [3]

Core Viewpoint - Jiafa Education reported a revenue of 273 million yuan for the first half of 2025, marking a year-on-year increase of 5.03%, but the net profit attributable to shareholders decreased by 4.60% to 40.78 million yuan, indicating a situation of "increased revenue but decreased profit" [1][2]. Financial Performance - The company's revenue from the "standardized examination point products and overall solutions" declined by 11.93% to approximately 154 million yuan, while the gross margin for this product line decreased by 0.47 percentage points [2]. - Revenue from "smart education products and overall solutions" increased by 66.55% to approximately 94.58 million yuan, although the gross margin for this segment fell by 15.07 percentage points to 28.8% [2]. - Operating costs rose by 20.94%, significantly outpacing the revenue growth of 5.03% [2]. - In Q1, the company experienced a substantial revenue decline of 51.82% to 55 million yuan, resulting in a net loss of 10 million yuan. However, Q2 showed improvement with a revenue increase of 49.23% to 219 million yuan and a net profit increase of 40.3% to 51 million yuan [2]. Strategic Developments - Jiafa Education aims to "build an industry AI Agent and reconstruct the entire teaching scene," having fully integrated the DeepSeek large model and developed a comprehensive educational AI application base [3]. - The company is in the early stages of market expansion for its AI-related products, which have seen increasing recognition and demand, but the business scale has not yet met expectations [3]. Shareholder Changes - In Q2 2025, notable changes among the top ten shareholders included an increase of approximately 178,000 shares by Sichuan Development Securities Investment Fund Management Co., and an increase of about 32,600 shares by Yin Hui [3].

编制单位：成都佳发安泰教育科技股份有限公司 单位：人民币万元 | 非经营性资金占用 | 资金占用方名称 | 占用方与上市公 | 上市公司 | 2025 年期 初占用资 | 2025 半年度占 用累计发生金 | 2025 半年 度占用资 | 2025 半年 度偿还累 | 2025 年期 末占用资金 | 占用形成 | 占用性质 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 司的关联关系 | 核算的会计科目 | 金余额 | 额 | 金的利息 | 计发生金 | 余额 | 原因 | | | | | | | | （不含利息） | （如有） | 额 | | | | | 控股股东、实际控 | | | | | | | | | | | | 制人及其附属企业 | | | | | | | | | | | | 小计 | | | | | | | | | | | | 前控股股东、实际 | | | | | | | | | | | | 控制人及其附属企 | | | | | | | | | | | | 业 | | | | | | | | | ...

证券代码：300559 证券简称：佳发教育 公告编号：2025-029 成都佳发安泰教育科技股份有限公司 2025年半年度报告披露提示性公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完 整，没有虚假记载、误导性陈述或重大遗漏。 成都佳发安泰教育科技股份有限公司（以下简称"公司"）于2025 年8月20日召开第四届董事会第十七次会议、第四届监事会第十二次 会议，审议通过公司《2025年半年度报告全文及其摘要》。 成都佳发安泰教育科技股份有限公司 董事会 2025 年 8 月 21 日 公司《2025年半年度报告全文及其摘要》于2025年8月21日刊登 在 中 国 证 监 会 指 定 创 业 板 信 息 披 露 网 站 巨 潮 资 讯 网 （http://www.cninfo.com.cn）,敬请投资者注意查阅。 特此公告 ...

证券代码：300559 证券简称：佳发教育 公告编号：2025-031 成都佳发安泰教育科技股份有限公司 第四届监事会第十二次会议决议公告 本公司及监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、监事会会议召开情况 1.成都佳发安泰教育科技股份有限公司（以下简称"公司"）第 四届监事会第十二次会议（以下简称"本次监事会会议"）通知于 2025 年 8 月 10 日以电子邮件、电话等方式发出，会议通知中包括会议的 相关材料，同时列明了会议的召开时间、地点、内容和方式。 2.本次监事会会议于 2025 年 8 月 20 日下午 14:00 时在公司会议 室以现场表决方式召开。 3.本次会议应出席监事 3 名，实际出席监事 3 名。会议由监事会 主席郭银海先生主持。 监事会 （一）审议并通过《2025 年半年度报告全文及其摘要》； 经审核，监事会认为董事会编制和审核公司《2025 年半年度报 告全文及其摘要》的程序符合法律、行政法规和中国证监会的规定， 报告内容真实、准确、完整地反映了公司的实际情况，不存在任何虚 假记载、误导性陈述或者重大遗漏。 具体内容详见公司同日公 ...

证券代码：300559 证券简称：佳发教育 公告编号：2025-030 成都佳发安泰教育科技股份有限公司 第四届董事会第十七次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、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 1.成都佳发安泰教育科技股份有限公司（以下简称"公司"）第 四届董事会第十七次会议（以下简称"本次董事会会议"）通知于 2025 年 8 月 10 日以电子邮件、电话等方式发出，会议通知中包括会 议的相关材料，同时列明了会议的召开时间、地点、内容和方式。 2.本次董事会会议于 2025 年 8 月 20 日上午 10:00 在公司会议室 以现场结合通讯表决方式召开（其中独立董事任淑、周雄俊、季至宇 以通讯表决方式出席会议）。 3.本次董事会会议应出席董事 7 名，实际出席会议的董事 7 名。 会议由董事长袁斌先生主持，公司监事、高级管理人员列席会议。 2．《第四届董事会审计委员会 2025 年第三次会议决议》。 4.会议的召开和表决程序符合《公司法》等法律法规和《公司章 程》的规定。 二、 董事会会议审议情况 （一）审议并通过《2025 年半年度报告全 ...

[Important Notice, Table of Contents, and Definitions](index=2&type=section&id=Item%201.%20Important%20Notice%2C%20Table%20of%20Contents%2C%20and%20Definitions) This section provides important notices, the table of contents, and definitions for the report [Company Profile and Key Financial Indicators](index=6&type=section&id=Item%202.%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section introduces the company and presents its key financial performance metrics [Company Profile](index=6&type=section&id=I.%20Company%20Profile) Chengdu Jiafa Antai Education Technology Co., Ltd. (Jiafa Education, stock code 300559) is a company listed on the Shenzhen Stock Exchange, with Yuan Bin as its legal representative | Stock Abbreviation | Jiafa Education | | :--- | :--- | | **Stock Code** | **300559** | | **Stock Exchange** | Shenzhen Stock Exchange | | **Company's Chinese Name** | Chengdu Jiafa Antai Education Technology Co., Ltd. | | **Legal Representative** | Yuan Bin | [Key Accounting Data and Financial Indicators](index=7&type=section&id=IV.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) During the reporting period, the company achieved operating revenue of **RMB 273 million**, a **5.03% increase**, but net profit attributable to shareholders decreased by **4.60%** to **RMB 40.78 million**, while operating cash flow grew by **24.08%** | Indicator | Current Period | Prior Period | YoY Change | | :--- | :--- | :--- | :--- | | **Operating Revenue (RMB)** | 273,407,645.57 | 260,324,998.11 | 5.03% | | **Net Profit Attributable to Shareholders (RMB)** | 40,781,555.35 | 42,747,174.11 | -4.60% | | **Net Profit Attributable to Shareholders Excluding Non-recurring Gains and Losses (RMB)** | 39,061,222.96 | 41,901,770.05 | -6.78% | | **Net Cash Flow from Operating Activities (RMB)** | 53,768,188.19 | 43,334,720.12 | 24.08% | | **Basic Earnings Per Share (RMB/share)** | 0.1021 | 0.1070 | -4.58% | | **Weighted Average Return on Net Assets** | 3.34% | 3.50% | -0.16% | | **Total Assets (RMB)** | 1,396,999,241.81 | 1,410,182,898.36 | -0.93% (vs. end of prior year) | | **Net Assets Attributable to Shareholders (RMB)** | 1,199,863,410.38 | 1,211,120,290.06 | -0.93% (vs. end of prior year) | [Non-recurring Gains and Losses and Amounts](index=7&type=section&id=VI.%20Non-recurring%20Gains%20and%20Losses%20and%20Amounts) Non-recurring gains and losses totaled **RMB 1.72 million**, primarily from government subsidies and financial asset-related gains, while VAT refunds and personal income tax handling fee rebates totaling **RMB 3.06 million** were classified as recurring - Total non-recurring gains and losses for the reporting period amounted to **RMB 1,720,332.39**, primarily comprising government subsidies of **RMB 1,088,152.06** and gains/losses from financial assets of **RMB 764,368.08**[25](index=25&type=chunk) - The company classified VAT refunds (**RMB 2.9568 million**) and personal income tax handling fee rebates (**RMB 0.1070 million**) as recurring gains and losses, as they are closely related to normal operations and continuously enjoyed[26](index=26&type=chunk) [Management Discussion and Analysis](index=9&type=section&id=Item%203.%20Management%20Discussion%20and%20Analysis) This section provides management's perspective on the company's operations, financial condition, and future outlook [Company's Main Business During the Reporting Period](index=9&type=section&id=I.%20Company%27s%20Main%20Business%20During%20the%20Reporting%20Period) The company is an education digitalization solution provider operating across **31 provinces**, leveraging AI and large models to build a **"1+4+N" innovation system** focused on education examination, English speaking, sports, and STEM experiment businesses, with revenue of **RMB 273 million** and net profit of **RMB 40.78 million** in H1 2025 - The company's core business revolves around a **'1+4+N' innovation system**, with education examination as the foundation (1), collaborative development of four specialized businesses—English speaking and listening, physical education, STEM experiments, and higher education informatization (4)—and expansion into innovative businesses such as data asset value mining (N)[28](index=28&type=chunk)[32](index=32&type=chunk)[39](index=39&type=chunk)[42](index=42&type=chunk) - The company launched the **'Linggu Education Large Model'** and **'AI+' series products**, building AI solutions covering teaching, learning, examination, evaluation, and research scenarios, including AI intelligent invigilation and AI question generation assistants[28](index=28&type=chunk) Consolidated Financial Performance (H1 2025) | Financial Indicator | H1 2025 | YoY Change | | :--- | :--- | :--- | | **Operating Revenue** | RMB 273 million | +5.03% | | **Net Profit Attributable to Parent** | RMB 40.78 million | -4.60% | [(IV) Main Performance Driving Factors](index=14&type=section&id=(IV)%20Main%20Performance%20Driving%20Factors) Performance is driven by national policy support, government funding, technological iteration, and a rich product and channel portfolio, with education digitalization and AI integration enhancing market demand and company offerings - National education digitalization strategy continues to strengthen, with the 2025 education expenditure budget reaching **RMB 4.46 trillion**, including approximately **RMB 63 billion** for education informatization, a **18% year-on-year increase**, providing core impetus for industry development[46](index=46&type=chunk)[47](index=47&type=chunk) - The deep integration of AI, cloud computing, and other technologies with education scenarios has raised industry competition barriers, and the company, with data and case accumulation covering **over 500,000 classrooms**, possesses the advantage of precisely matching technology with customer needs[48](index=48&type=chunk) - The company's product lines have expanded into new areas such as English computer-based testing, smart sports, and STEM experiments, with its business model evolving from single product sales to a diversified model integrating products, solutions, operations, and leasing services, extending its customer base from G/B-end to C-end[49](index=49&type=chunk) [(V) Company's Business Development During the Reporting Period](index=17&type=section&id=(V)%20Company%27s%20Business%20Development%20During%20the%20Reporting%20Period) The company provided technical support for the national college entrance examination for the **19th consecutive year**, integrated DeepSeek large models into its products, partnered with Huawei Ascend, launched the **"Lingyutong"** English education sub-brand, and collaborated with universities to apply AI in higher education and sports - The company provided technical assurance for the national college entrance examination in **31 provinces** for the **nineteenth consecutive year**, with its AI intelligent invigilation solution widely adopted in **24 provincial-level administrative regions** and **tens of thousands of examination venues**[56](index=56&type=chunk)[57](index=57&type=chunk) - The company's products are fully integrated with the domestic AI large model **DeepSeek**, and it jointly released the **'Jiafa Education Industry Intelligent Agent Application Base Solution'** with Huawei Ascend, building a vertical education intelligent agent covering examination, teaching, management, evaluation, learning, and research scenarios[59](index=59&type=chunk) - The company launched its new English education sub-brand **'Lingyutong'** and collaborated with Chongqing Normal University to transform **66 classrooms**, creating an innovative practice of AI-empowered higher education[60](index=60&type=chunk)[62](index=62&type=chunk) - The company's **'AI New Sports Exam'** solution served **over 2 million candidates** in **14 provinces** during the 2025 national physical education middle school entrance examination, with cumulative test counts reaching **hundreds of millions**[63](index=63&type=chunk) [Core Competitiveness Analysis](index=23&type=section&id=II.%20Core%20Competitiveness%20Analysis) The company's core competitiveness stems from its **over 20 years** of industry experience, brand recognition, market entry advantages from undertaking national and provincial examination platforms, extensive market coverage across **31 provinces**, and strong technological capabilities with **nearly 500 software copyrights** - Brand Advantage: The company is a comprehensive supplier of national standardized examination center core products, enjoying high industry recognition[78](index=78&type=chunk) - Entry Advantage: Undertaking national and multiple provincial-level examination business platforms provides data integration and customer resource advantages for expanding into school-end businesses[78](index=78&type=chunk) - Market Advantage: Business covers **31 provinces**, autonomous regions, and municipalities directly under the central government, serving **tens of thousands of schools**, possessing a mature sales system and channel resources[79](index=79&type=chunk) - Technological Advantage: Possesses **over 40 core patents** and **nearly 500 software copyrights**, with long-term investment in core technological innovations such as AI and big data[79](index=79&type=chunk) [Main Business Analysis](index=24&type=section&id=III.%20Main%20Business%20Analysis) Operating revenue increased by **5.03%**, but a **20.94%** surge in operating costs led to a **6.83 percentage point** decline in gross margin to **48.06%**; smart education product revenue grew by **66.55%** despite a **15.07 percentage point** drop in gross margin, while standardized examination products decreased by **11.93%**, with the Southwest region showing **94.71%** growth Key Financial Indicators | Financial Indicator | Current Period (RMB) | Prior Period (RMB) | YoY Change | Main Reason | | :--- | :--- | :--- | :--- | :--- | | **Operating Revenue** | 273,407,645.57 | 260,324,998.11 | 5.03% | - | | **Operating Cost** | 142,018,440.41 | 117,429,775.92 | 20.94% | - | | **Selling Expenses** | 27,103,683.66 | 36,791,418.07 | -26.33% | - | | **R&D Investment** | 14,790,300.55 | 23,255,671.99 | -36.40% | Decrease in R&D expensed items | | **Net Cash Flow from Financing Activities** | -59,937,697.16 | -43,357,777.58 | -38.24% | Increase in short-term loan repayments | Revenue and Gross Margin by Product/Service | Product/Service | Operating Revenue (RMB) | Revenue YoY | Gross Margin | Gross Margin YoY | | :--- | :--- | :--- | :--- | :--- | | **Standardized Examination Center Products** | 153,619,069.96 | -11.93% | 59.71% | -0.47% | | **Smart Education Products** | 94,582,913.27 | 66.55% | 28.80% | -15.07% | - From the regional revenue structure, the Southwest region became the company's largest revenue source and growth engine, with revenue reaching **RMB 115 million** during the reporting period, a **94.71% year-on-year increase**[85](index=85&type=chunk) [Risks Faced by the Company and Countermeasures](index=30&type=section&id=X.%20Risks%20Faced%20by%20the%20Company%20and%20Countermeasures) The company faces risks including delayed policy implementation, high dependence on the education informatization industry, gross margin fluctuations, management challenges from rapid growth, and the risk of lagging technological innovation, which it addresses through R&D, product diversification, and internal management optimization - Policy Risk: While policy dividends for education informatization are expected to continue, there remains a risk of tightening fiscal budgets in some regions and policy implementation falling short of expectations[105](index=105&type=chunk) - Industry Dependence Risk: The company's main business is highly dependent on the development of the education informatization industry; changes in relevant policies could impact customer demand[106](index=106&type=chunk) - Gross Margin Fluctuation Risk: The increasing revenue share of smart education business, which may face intense competition, and its product structural fluctuations could lead to overall gross margin volatility[107](index=107&type=chunk) - Technological Risk: The industry in which the company operates experiences rapid technological development, posing risks of lagging technological innovation and delayed returns on R&D investment[111](index=111&type=chunk) [Corporate Governance, Environment, and Society](index=32&type=section&id=Item%204.%20Corporate%20Governance%2C%20Environment%2C%20and%20Society) This section details changes in corporate governance, including executive appointments, profit distribution plans, and employee incentive programs [Changes in Directors, Supervisors, and Senior Management](index=32&type=section&id=I.%20Changes%20in%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) During the reporting period, the company's Chief Financial Officer changed, with Zhou Junlong resigning due to work reassignment and Zhang Bochao taking over | Name | Position Held | Type | Date | Reason | | :--- | :--- | :--- | :--- | :--- | | Zhou Junlong | Chief Financial Officer | Resignation | April 19, 2025 | Work Reassignment | | Zhang Bochao | Chief Financial Officer | Appointment | April 19, 2025 | Work Reassignment | [Profit Distribution and Capital Reserve Conversion to Share Capital in the Current Reporting Period](index=32&type=section&id=II.%20Profit%20Distribution%20and%20Capital%20Reserve%20Conversion%20to%20Share%20Capital%20in%20the%20Current%20Reporting%20Period) The company plans no cash dividends, bonus shares, or capital reserve conversions to share capital for the first half of 2025 - The company plans no profit distribution or capital reserve conversion to share capital for the half-year period[116](index=116&type=chunk) [Implementation of Share Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=32&type=section&id=III.%20Implementation%20of%20Share%20Incentive%20Plans%2C%20Employee%20Stock%20Ownership%20Plans%2C%20or%20Other%20Employee%20Incentive%20Measures) The company implemented two employee stock ownership plans in 2023 and 2024, with the 2024 plan seeing a reduction to **88 participants** due to one employee's departure, resulting in a **RMB 7.89 million** expense and a **RMB 6.71 million** impact on net profit during the reporting period - During the reporting period, the company amortized employee stock ownership plan expenses of **RMB 7,888,750.02**, impacting net profit by **RMB 6,705,437.52**[120](index=120&type=chunk) [Significant Matters](index=37&type=section&id=Item%205.%20Significant%20Matters) This section covers significant events, including the fulfillment of commitments and major related-party transactions [Fulfillment of Commitments by the Company's Actual Controller, Shareholders, Related Parties, Acquirers, and the Company During the Reporting Period and Overdue Unfulfilled Commitments as of the End of the Reporting Period](index=37&type=section&id=I.%20Fulfillment%20of%20Commitments%20by%20the%20Company%27s%20Actual%20Controller%2C%20Shareholders%2C%20Related%20Parties%2C%20Acquirers%2C%20and%20the%20Company%20During%20the%20Reporting%20Period%20and%20Overdue%20Unfulfilled%20Commitments%20as%20of%20the%20End%20of%20the%20Reporting%20Period) All commitments made by the company and related parties during the initial public offering, such as share lock-ups, avoidance of horizontal competition, and regulation of related-party transactions, were being fulfilled normally as of the end of the reporting period, with no overdue unfulfilled items - All commitments made by the company and related parties during the initial public offering were being fulfilled normally as of the end of the reporting period[129](index=129&type=chunk)[130](index=130&type=chunk)[131](index=131&type=chunk)[132](index=132&type=chunk)[133](index=133&type=chunk)[134](index=134&type=chunk)[135](index=135&type=chunk) [Major Related-Party Transactions](index=44&type=section&id=XI.%20Major%20Related-Party%20Transactions) During the reporting period, the company had no major related-party transactions concerning daily operations, asset or equity acquisitions/disposals, or joint external investments - The company had no major related-party transactions during the reporting period[143](index=143&type=chunk)[144](index=144&type=chunk)[145](index=145&type=chunk) [Share Changes and Shareholder Information](index=47&type=section&id=Item%206.%20Share%20Changes%20and%20Shareholder%20Information) This section details changes in the company's share capital and provides information on its shareholders [Share Change Information](index=47&type=section&id=I.%20Share%20Change%20Information) As of the end of the reporting period, the company's total share capital was **399,514,567 shares**, with no changes during the period; restricted shares accounted for **22.12%**, and unrestricted shares for **77.87%** Share Capital Structure | Share Type | Quantity (shares) | Proportion | | :--- | :--- | :--- | | **Restricted Shares** | 88,377,734 | 22.12% | | **Unrestricted Shares** | 311,136,833 | 77.87% | | **Total Share Capital** | **399,514,567** | **100.00%** | [Company Shareholder Numbers and Shareholding Information](index=48&type=section&id=III.%20Company%20Shareholder%20Numbers%20and%20Shareholding%20Information) As of the end of the reporting period, the company had **14,712 common shareholders**, with Yuan Bin, Ling Yun, and Tibet Deyuan Tai Information Technology Co., Ltd. being the top three shareholders - As of the end of the reporting period, the company had **14,712 common shareholders**[162](index=162&type=chunk) Top Shareholders | Shareholder Name | Shareholding Proportion | Number of Shares Held (shares) | | :--- | :--- | :--- | | Yuan Bin | 29.43% | 117,568,630 | | Ling Yun | 8.04% | 32,140,839 | | Tibet Deyuan Tai Information Technology Co., Ltd. | 6.34% | 25,320,591 | | Chen Daqiang | 4.69% | 18,753,080 | [Bond-Related Information](index=53&type=section&id=Item%207.%20Bond-Related%20Information) This section provides details on the company's bond-related activities [Bond-Related Information](index=53&type=section&id=Item%207.%20Bond-Related%20Information) The company had no bond-related matters during the reporting period - The company had no bond-related matters during the current reporting period[170](index=170&type=chunk) [Financial Report](index=54&type=section&id=Item%208.%20Financial%20Report) This section presents the company's unaudited financial statements for the reporting period [Financial Statements](index=54&type=section&id=II.%20Financial%20Statements) The company's H1 2025 financial report is unaudited, showing total assets of **RMB 1.397 billion**, total equity attributable to parent company of **RMB 1.200 billion**, operating revenue of **RMB 273 million**, net profit attributable to parent company of **RMB 40.78 million**, and net cash flow from operating activities of **RMB 53.77 million** - The company's half-year financial report is unaudited[172](index=172&type=chunk) Consolidated Balance Sheet Key Items (June 30, 2025) | Item | Period-end Balance (RMB) | | :--- | :--- | | **Total Assets** | 1,396,999,241.81 | | **Total Liabilities** | 176,861,026.58 | | **Total Equity Attributable to Parent Company Owners** | 1,199,863,410.38 | Consolidated Income Statement Key Items (H1 2025) | Item | Amount (RMB) | | :--- | :--- | | **Total Operating Revenue** | 273,407,645.57 | | **Operating Profit** | 47,502,427.23 | | **Total Profit** | 47,835,137.67 | | **Net Profit** | 43,038,828.82 | | **Net Profit Attributable to Parent Company Shareholders** | 40,781,555.35 | Consolidated Cash Flow Statement Key Items (H1 2025) | Item | Amount (RMB) | | :--- | :--- | | **Net Cash Flow from Operating Activities** | 53,768,188.19 | | **Net Cash Flow from Investing Activities** | -41,366,497.63 | | **Net Cash Flow from Financing Activities** | -59,937,697.16 | | **Net Increase in Cash and Cash Equivalents** | -47,536,006.60 |

Investment Rating - The report maintains a "Recommended" rating for the AI sector, indicating a positive outlook for the industry based on current developments and market conditions [2][32]. Core Insights - The AI industry is experiencing significant support from both central and local government policies, which aim to enhance the integration of AI technologies across various sectors such as manufacturing, services, healthcare, and education [8][9]. - ByteDance has launched the "Seed Diffusion Preview," an experimental language model that significantly improves code generation speed and accuracy, achieving a performance increase of 5.4 times compared to traditional models [13][14]. - Major tech companies like Microsoft and Meta have reported strong financial results, driven by their AI and cloud computing segments, with Microsoft achieving a quarterly revenue of $764.4 billion and Meta's ad revenue growing by 21% [18][21]. Summary by Sections 1. Artificial Intelligence - Central and local governments have introduced policies to support AI development, including the "Artificial Intelligence+" action plan, which emphasizes leveraging China's comprehensive industrial system and large market scale [8]. - Shanghai has implemented measures to expand AI applications, including the issuance of 1 billion yuan in AI vouchers to support various AI-related initiatives [9][10]. - ByteDance's "Seed Diffusion Preview" model focuses on code generation, achieving a speed of 2146 tokens per second, which is a significant advancement in the field [13][14]. 2. Market Performance Review - The computer sector saw a slight decline of 0.20% in the last week of July 2025, with notable stock performances from companies like Chuangzhong Technology and Zhuoyi Information, which increased by over 20% [26]. - Microsoft and Meta's financial results highlight the robust growth in their AI and cloud services, with Microsoft reporting a 34% increase in Azure revenue and Meta's ad revenue growing significantly [18][21].

本公司及董事会全体成员保证信息披露内容的真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 成都佳发安泰教育科技股份有限公司（以下简称"公司"或"佳 发教育"）于 2025 年 6 月 10 日披露《关于股东减持股份预披露的公 告》（公告编号：2025-022），股东陈大强先生计划自预披露公告之 日起 15 个交易日后的三个月内以集中竞价或大宗交易的方式减持公 司股份不超过 11,985,437 股(占公司总股本比例 3.00%)，具体内容 详见当日公告。 证券代码：300559 证券简称：佳发教育 公告编号：2025-026 成都佳发安泰教育科技股份有限公司 关于股东股份减持计划实施完成的公告 股东陈大强先生保证向本公司提供的信息内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 近日，公司收到股东陈大强先生出具的《股份减持计划实施完成 的告知函》，上述股东减持计划已实施完成，根据《上市公司股东减 持股份管理暂行办法》《深圳证券交易所上市公司自律监管指引第 18 号——股东及董事、高级管理人员减持股份》等有关规定，现将相关 事项公告如下： 一、股东减持情况 1、股东减持股份情况 | | | ...

Core Points - The stock price of Jiafa Education (300559) closed at 11.68 yuan on July 11, 2025, down by 0.26% with a turnover rate of 2.74% and a trading volume of 85,100 lots, amounting to 99.07 million yuan [1] - The company experienced a net outflow of main funds amounting to 18.96 million yuan, accounting for 19.14% of the total transaction amount, with significant outflows from large orders [1] Financial Performance - For the first quarter of 2025, Jiafa Education reported total operating revenue of 54.87 million yuan, a year-on-year decrease of 51.82% [1] - The net profit attributable to shareholders was 10.04 million yuan, down 253.84% year-on-year, while the non-recurring net profit was 11.18 million yuan, a decrease of 280.16% [1] - The company's liquidity ratios are as follows: current ratio at 7.168, quick ratio at 6.263, and debt-to-asset ratio at 9.52% [1] Company Overview - Chengdu Jiafa Antai Education Technology Co., Ltd. was established in 2002 and is primarily engaged in software and information technology services [2] - The company has a registered capital of 3.995 billion yuan and a paid-in capital of 538 million yuan [1] - Jiafa Education has made investments in 21 companies, participated in 1,124 bidding projects, and holds 46 trademark registrations and 82 patents [2]