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"）于 2025 年 7 月 7 日召开第四届董事会第十六次会议审议通过了《关于 2024 年员工持股计划第一个锁定期解锁条件未成就的议案》，董事会认为 公司《2024 年员工持股计划（草案）》（以下简称"《持股计划（草 案）》"、"本持股计划"）规定的第一个锁定期解锁条件未成就， 相应 102.5474 万股标的股票不得解锁，应按《2024 年员工持股计划 （草案）》和《2024 年员工持股计划管理办法》（以下简称"《管理 办法》"）的相关规定进行处理。现将相关事项公告如下： 一、2024 年员工持股计划的基本情况 证券代码：300559 证券简称：佳发教育 公告编号：2025-025 成都佳发安泰教育科技股份有限公司 关于 2024 年员工持股计划第一个锁定期 解锁条件未成就的公告 （一）公司分别于 2024 年 3 月 26 日召开第四届董事会第七次会 议、第四届监事会第六次会议，2024 年 4 月 17 日召开 2023 年年度 股东大会，审议通过了《关于 ...

第四届董事会第十六次会议决议公告 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 四届董事会第十六次会议（以下简称"本次董事会会议"）通知于 2025 年 7 月 4 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 7 月 7 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）。 证券代码：300559 证券简称：佳发教育 公告编号：2025-023 成都佳发安泰教育科技股份有限公司 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。 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《关于 2023 年员工持股计划第二个锁定期解 锁条件成就的议案》； 根据 2024 年度公 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The report emphasizes the importance of AI applications and stablecoin investment opportunities, highlighting the release of the Doubao large model 1.6 and the Seedance 1.0 pro video generation model, which are expected to drive growth in AI applications and computing power investments [4][11] - Ant Group is actively entering the stablecoin market, with plans to establish operations in Hong Kong, Singapore, and Luxembourg, indicating a favorable environment for stablecoin investments due to supportive policies and market recognition [5][12] Summary by Sections Market Review - During the week of June 9-13, 2025, the CSI 300 index fell by 0.25%, while the computer index decreased by 2.52% [4][10] AI Applications - The Doubao large model 1.6 series supports advanced capabilities such as deep thinking and multimodal understanding, achieving top-tier performance in various assessments. The Seedance 1.0 pro model has the lowest industry cost for video generation, with a daily token usage exceeding 16.4 trillion, marking a growth of over 137 times since its launch [4][11] Stablecoin Developments - Ant Group's announcement to enter the stablecoin sector aligns with the upcoming implementation of the Stablecoin Regulation in Hong Kong on August 1, 2025. The successful IPO of Circle, the first stablecoin company, has garnered significant market attention [5][12] Investment Recommendations - Recommended stocks in AI applications include Kingsoft Office, iFlytek, and others, while computing power investments suggest companies like Sugon and Inspur. For stablecoins, Longxin Group is highlighted, with several beneficiary stocks listed [6][13]

Group 1 - Beijing's undergraduate application period will begin on June 27 and end on July 1, following the completion of the 2025 college entrance examination [1] - The Beijing Municipal Center for Science Education has been established to create a national-level scientific education think tank and promote a "Beijing model" for science education [2] - Chaoyang District is providing rental housing options for graduating students to address their temporary housing challenges, with a total of 387 units available [3] Group 2 - One Education Technology reported a 47.5% year-over-year reduction in net losses for Q1 2025, with revenue reaching 21.67 million yuan and adjusted net losses of 22.4 million yuan [4] - Jiafa Education and Huawei jointly launched an educational intelligent application platform to support various educational scenarios, including examinations and vocational education [5]

证券代码：300559 证券简称：佳发教育 公告编号：2025-022 成都佳发安泰教育科技股份有限公司 关于股东减持股份预披露的公告 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。 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。 特别提示： 1、持有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"）股份 18,753,080 股(占公司总股本比例 4.6940%)的 股东陈大强先生计划自本公告披露之日起 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%)。 2、陈大强先生、颜勤女士于 2024 年 10 月 14 日完成离婚财产分 割，陈大强先生将其持有的公司股份 12,000,000 股（占公司总股本 的 3.0036%）通过证券非交易过户的方式登记至颜勤女士名下，具体 内容详见公司于 2024 年 10 月 15 日在巨潮资讯网披露的《关于持股 5%以上股东权益变动进展暨股份完成过户登记的公告》（公告编号： ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [7]. Core Views - The company reported a revenue of 430 million yuan for 2024, a decrease of 28.87% year-on-year. The net profit attributable to the parent company was 36 million yuan, down 72.23% year-on-year. The net profit after deducting non-recurring items was 34 million yuan, a decrease of 73.19% year-on-year. The operating cash flow net amount was 50 million yuan, down 72.10% year-on-year [2][4]. - In Q1 2025, the company achieved a revenue of 55 million yuan, a decrease of 51.82% year-on-year, with a net profit attributable to the parent company of -10 million yuan, compared to a profit of 7 million yuan in the same period last year. The net profit after deducting non-recurring items was -11 million yuan, down from 6 million yuan year-on-year. The operating cash flow net amount was -8 million yuan, compared to -44 million yuan in the same period last year [2][4]. - The company focuses on standardized examination point construction and aims to leverage AI to drive a new growth curve in smart education and examination [4]. Summary by Sections Financial Performance - For 2024, the company’s total revenue was 430 million yuan, with a gross profit margin of 51.43%, which is relatively stable compared to 51.75% in 2023. The net profit margin was 6.96%, a significant decline of 14.48 percentage points year-on-year due to revenue pressure and fixed costs [10]. - The company’s sales, management, and R&D expenses for 2024 were 68 million yuan, 84 million yuan, and 42 million yuan respectively, with year-on-year changes of -13.15%, +25.78%, and -6.00% [10]. - The revenue from the core business of standardized examination products and solutions was 270 million yuan, down 35.91% year-on-year, while the revenue from smart education products was 93 million yuan, down 19.89% year-on-year [10]. Future Outlook - The company is expected to achieve revenues of 475 million yuan, 554 million yuan, and 680 million yuan for 2025, 2026, and 2027 respectively, with net profits of 68 million yuan, 88 million yuan, and 130 million yuan for the same years [10]. - The company is implementing an "AI+" strategy to assist in its transformation, with AI products expected to drive new business opportunities and enhance existing offerings [10].

Core Viewpoint - The company reported a significant decline in revenue and net profit for 2024, with a focus on AI-driven growth opportunities in the education sector [1][2][4] Financial Performance - In 2024, the company achieved revenue of 430 million yuan, a year-on-year decrease of 28.87% [1][2] - The net profit attributable to shareholders was 36 million yuan, down 72.23% year-on-year [1][2] - The operating cash flow net amount was 50 million yuan, a decrease of 72.10% year-on-year [1] - For Q1 2025, the company reported revenue of 55 million yuan, a decline of 51.82% year-on-year [1][2] Business Segments - The core business of standardized examination products and solutions generated revenue of 270 million yuan in 2024, down 35.91% year-on-year, with a gross margin of 58.01% [3] - The smart education products and solutions achieved revenue of 93 million yuan, a decrease of 19.89% year-on-year, with a gross margin of 37.32% [3] Strategic Focus - The company is focusing on the "AI+" strategy to drive transformation and innovation in response to market demand [3][4] - AI applications have been implemented in various examination processes, enhancing efficiency and fairness [3] - The company has established a strong brand presence in the smart examination sector, being one of the earliest entrants in the industry [4] Future Outlook - Revenue projections for 2025, 2026, and 2027 are estimated at 475 million, 554 million, and 680 million yuan, respectively, with net profits of 68 million, 88 million, and 130 million yuan [4] - The company is expected to benefit from AI-driven new products and business lines, potentially leading to a new growth curve [3][4]

Investment Rating - The investment rating for the company is "Buy" and is maintained [8] Core Insights - The company reported a revenue of 430 million yuan in 2024, a year-on-year decrease of 28.87%. The net profit attributable to the parent company was 36 million yuan, down 72.23% year-on-year. The net profit after deducting non-recurring items was 34 million yuan, a decrease of 73.19% year-on-year. The operating cash flow net amount was 50 million yuan, down 72.10% year-on-year. In Q1 2025, the company achieved a revenue of 55 million yuan, a year-on-year decrease of 51.82%, with a net profit attributable to the parent company of -10 million yuan, compared to 7 million yuan in the same period last year [2][5][11] - The company is a leader in standardized examination point construction, focusing on smart examination and smart education. The integration of AI is expected to create a new growth curve for the company [5][11] Summary by Sections Financial Performance - In 2024, the company's revenue was 430 million yuan, with a gross margin of 51.43%, which is relatively stable compared to 51.75% in 2023. The net profit margin was 6.96%, a significant decline of 14.48 percentage points year-on-year. The sales, management, and R&D expenses were 68 million, 84 million, and 42 million yuan respectively, with year-on-year changes of -13.15%, +25.78%, and -6.00% [11][12] - For Q1 2025, the company continued to face pressure with a revenue of 55 million yuan and a net profit of -10 million yuan, indicating ongoing challenges in the market [5][11] Business Segments - The core business segments faced pressure, with the standardized examination products generating 270 million yuan in revenue, down 35.91%, and a gross margin of 58.01%. The smart education products generated 93 million yuan, down 19.89%, with a gross margin of 37.32% [11][12] - The company is advancing its "AI+" strategy to support transformation, leveraging AI for smart examination and education solutions, which are expected to drive future growth [11][12] Future Projections - Revenue projections for 2025, 2026, and 2027 are 475 million, 554 million, and 680 million yuan respectively, with net profits of 68 million, 88 million, and 130 million yuan. The corresponding price-to-earnings ratios are projected to be 65, 50, and 34 times [11][12]

Core Viewpoint - The recent increase in terminated share transfer agreements among listed companies highlights a dual nature in the market, where some companies continue to pursue strategic investments while others face regulatory scrutiny and market conditions that hinder transactions [2][5][6]. Group 1: Market Dynamics - In May, 13 listed companies announced the termination of share transfer agreements, a significant increase compared to previous months, which typically saw only three to five cases [5]. - The reasons for termination often include incomplete procedures and market conditions where previously set transfer prices are now below current market values [5][6]. - Despite the rise in terminations, there are still ongoing agreements aimed at introducing strategic investors or changing actual controllers, indicating that the market remains active [7][8]. Group 2: Regulatory Environment - The tightening of regulations following the introduction of new reduction rules has led to increased scrutiny of share transfer agreements, with calls for clearer prohibitions on certain behaviors to prevent gray operations [3][9]. - The market is seeing a trend where parties involved in agreements are extending lock-up periods to enhance compliance and reduce the risk of speculative trading [10][11]. Group 3: Strategic Implications - Protocol transfers serve as an effective tool for major shareholders to meet liquidity needs while avoiding direct impacts on stock prices from secondary market sales [6][8]. - The presence of financial investors as transferees is becoming more challenging, but agreements aimed at strategic partnerships continue to progress normally [8]. - The market's dual characteristics suggest a need for balance between resource allocation functions and risk prevention in the context of share transfers [3][10].

Group 1 - The company has approved a cash dividend distribution plan for the year 2024, proposing a cash dividend of 1.5 yuan per 10 shares, with no bonus shares to be issued [1][2] - The total share capital for the distribution is 399,514,567 shares, and adjustments will be made if the share capital changes before the distribution [1][2] - The dividend distribution will be executed on May 30, 2025, with the record date set for May 29, 2025 [2][3] Group 2 - The distribution will be subject to different tax rates for various types of shareholders, with a 10% tax for Hong Kong investors and a differentiated tax rate for mainland investors [2] - The tax obligations for individual shareholders will depend on their holding period, with specific amounts to be paid based on the duration of their shareholding [2] - The company will bear all legal responsibilities for any shortfall in cash dividends distributed by the China Securities Depository and Clearing Corporation [3][4]