Summary of the Conference Call for Zhengyuan Wisdom Company Overview - **Company**: Zhengyuan Wisdom - **Industry**: Education Technology and Smart Solutions Key Financial Performance - **Q3 2025 Net Profit**: Achieved a net profit of 25.56 million yuan, a year-on-year increase of 37.2% [2][3] - **Q3 2025 Non-recurring Net Profit**: Increased by 68.99% to 25.42 million yuan [2][3] - **Cumulative Net Profit for First Three Quarters**: 6.83 million yuan, a year-on-year decrease of 31.99% due to market conditions and rising costs [2][3] - **Operating Cash Flow**: Net cash flow from operating activities was -76.25 million yuan, but increased by 57.68% year-on-year due to a 130 million yuan increase in sales receipts [3] - **Revenue Growth**: Q3 revenue reached 308 million yuan, a 6% increase year-on-year; total revenue for the first three quarters was 768 million yuan, up 2.35% [3] Business Developments Education Sector - **Higher Education Projects**: Increased operational projects in higher education, with subsidiary Nipton generating 206 million yuan in revenue, up 40 million yuan year-on-year, and profits exceeding 36 million yuan [2][5] - **Data Projects**: Implemented 26 data projects in universities, including smart ideological and political education at Beijing University of Posts and Telecommunications and Nanjing Sports Institute [2][5] - **Basic Education Initiatives**: Led the construction of smart canteen standards in Beijing's Haidian District, totaling over 40 million yuan; implemented smart campus projects in Xuzhou and smart security projects in Henan, each around 18 million yuan [2][5] AI and Digital Currency - **AI Platform**: Launched a comprehensive service platform for universities, with over ten universities currently using it, though revenue contribution remains minimal due to limited school budgets [6][18] - **Digital Currency Investments**: Continued investment in digital RMB technology and patents, but contributions to performance are not significant due to the slow national rollout [6] Government Collaborations - **Tongshua Project**: Implemented in Zhejiang Province, connecting government canteens to reduce reception costs, with expansion into Anhui Province and contracts worth over 2 million yuan [7] Military Business - **Military Contracts**: Completed contracts worth 10 million yuan by providing management software and smart kitchen equipment to enhance combat effectiveness and reduce manpower costs [4][9] Strategic Focus - **Personnel Management**: Emphasis on human productivity, controlling personnel growth while optimizing staff [4][17] - **Investment in Hardware**: Plans to build a standard factory to improve hardware quality and production capacity [20] - **External Growth Strategy**: Focus on both organic and external growth, with recent acquisitions yielding significant results, particularly with Nipton [20] Market Positioning - **Competitive Landscape**: Compared to competitors like Xinkai Pu, Zhengyuan Wisdom has a higher revenue, with 768 million yuan in 2025 compared to Xinkai Pu's 557 million yuan [16] Conclusion Zhengyuan Wisdom is experiencing growth in its financial performance, particularly in the education sector, while also expanding its military and government collaborations. The company is strategically focused on enhancing operational efficiency, investing in technology, and maintaining a competitive edge in the market.

Company Overview - Zhengyuan Wisdom (SZ 300645) announced the convening of its fifth session of the eighth board meeting on October 28, 2025, to review the proposal for the "2025 Third Quarter Report" [1] Financial Performance - For the first half of 2025, the revenue composition of Zhengyuan Wisdom was 63.32% from schools and 36.68% from enterprises and institutions [1]

| 证券代码：300645 | 证券简称：正元智慧 公告编号：2025-100 债券简称：正元转 02 | | --- | --- | | 债券代码：123196 | | 根据《企业会计准则》、深圳证券交易所《创业板股票上市公司规则》相关 规定，公司基于谨慎性原则，对合并报表范围内的资产进行了分析，对存在减值 迹象的资产计提相应减值准备。公司对截至 2025 年 9 月 30 日的应收款项、存货 和商誉等资产进行了减值测试，判断存在发生减值的迹象，需要计提减值准备。 公司本次计提资产减值准备的资产项目主要为应收款项、存货和商誉，计提各项 资产减值准备合计 11,237,305.81 元，具体情况如下： | 项 目 | 2025 年前三季度计提减值损失金额（元） | | --- | --- | | 一、信用减值损失（损失以"-"号填列） | -8,781,463.70 | | 其中：应收票据坏账损失 | 83,244.64 | 1 正元智慧集团股份有限公司 关于 2025 年前三季度计提资产减值准备的公告 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。 正元智慧 ...

| 证券代码：300645 | 证券简称：正元智慧 | | 公告编号：2025-098 | | --- | --- | --- | --- | | 债券代码：123196 | 债券简称：正元转 | 02 | | 正元智慧集团股份有限公司 第五届监事会第六次会议决议公告 本公司及监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。 一、监事会会议召开情况 正元智慧集团股份有限公司（以下简称"公司"）第五届监事会第六次会议于 2025 年 10 月 28 日下午 15:30 在公司会议室以现场方式召开，会议通知已于 2025 年 10 月 23 日以书面和通讯方式送达全体监事。本次会议应出席监事 3 名，实际 出席监事 3 名，公司董事会秘书列席了本次会议。本次会议由监事会主席潘功君 先生主持，会议的召开和表决程序符合《中华人民共和国公司法》和《公司章程》 的有关规定。经与会监事认真审议本次会议议案并表决，形成如下决议： 1、审议通过《关于公司<2025 年第三季度报告>的议案》 公司《2025 年第三季度报告》具体内容详见公司于 2025 年 10 月 30 日在巨 潮资讯网 ...

| 证券代码：300645 | 证券简称：正元智慧 | 公告编号：2025-097 | | --- | --- | --- | | 债券代码：123196 | 债券简称：正元转 02 | | 正元智慧集团股份有限公司 第五届董事会第八次会议决议公告 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 正元智慧集团股份有限公司（以下简称"公司"）第五届董事会第八次会议于 2025 年 10 月 28 日下午 15:00 在公司会议室以现场方式召开，会议通知已于 2025 年 10 月 23 日以书面和通讯方式送达全体董事。本次会议应出席董事 7 名，实际 出席会议董事 7 名，公司监事、高级管理人员列席了本次会议。本次会议由董事 长陈艺戎女士主持，会议的召开和表决程序符合《中华人民共和国公司法》和《公 司章程》的有关规定。 二、董事会会议审议情况 1、公司《第五届董事会第八次会议决议》； 2、公司《第五届董事会审计委员会第四次会议决议》。 特此公告。 正元智慧集团股份有限公司董事会 2025 年 10 月 30 日 1、审议通过《关于公司<2 ...

Financial Performance - Revenue for Q3 2025 reached ¥307,974,923.91, an increase of 6.03% year-over-year, while year-to-date revenue was ¥768,028,601.08, up 2.35%[5] - Net profit attributable to shareholders for Q3 2025 was ¥25,563,025.35, a significant increase of 37.20% compared to the same period last year, but down 31.99% year-to-date[5] - Basic earnings per share for Q3 2025 was ¥0.18, reflecting a 38.46% increase year-over-year, while year-to-date earnings per share decreased by 28.57%[5] - Total operating revenue for the period reached ¥768,028,601.08, an increase of 2.2% compared to ¥750,379,997.37 in the previous period[26] - The company's net profit for the current period is 11,522,019.09, compared to 13,181,170.09 in the previous period, reflecting a decrease of approximately 12.6%[27] - The total comprehensive income for the current period is 12,416,892.79, down from 13,665,372.13 in the previous period, indicating a decline of about 9.1%[27] - The company's operating profit for the current period is 4,453,708.14, compared to 5,972,115.09 in the previous period, showing a decline of approximately 25.4%[27] - The company’s total profit for the current period is 2,253,691.58, down from 5,135,276.07 in the previous period, reflecting a decrease of about 56.1%[27] Assets and Liabilities - Total assets as of the end of Q3 2025 amounted to ¥3,038,155,068.80, representing a 6.32% increase from the end of the previous year[5] - Total assets reached ¥3,038,155,068.80, up from ¥2,857,565,523.02, reflecting a growth of 6.3%[24] - Total liabilities increased to ¥1,683,806,375.47 from ¥1,507,787,019.81, an increase of 11.7%[24] Cash Flow - Cash flow from operating activities showed a net outflow of ¥76,249,134.86 year-to-date, a decrease of 57.68% compared to the previous year[5] - Operating cash flow for the current period is -76,249,134.86, an improvement from -180,193,686.64 in the previous period[29] - Cash inflow from operating activities increased to 994,189,647.81, compared to 860,284,001.08 in the previous period, marking an increase of approximately 15.6%[29] - The company received cash from financing activities amounting to 798,343,464.50, compared to 689,491,873.86 in the previous period, reflecting an increase of approximately 15.8%[30] - The net cash flow from financing activities for the current period is 90,795,140.03, down from 109,501,673.74 in the previous period, indicating a decrease of about 17.1%[30] Shareholder Information - The total number of common shareholders at the end of the reporting period is 22,133[13] - The largest shareholder, Hangzhou Zhengyuan Shunran Industrial Co., Ltd., holds 25.81% of shares, totaling 36,680,617 shares[13] - The company has a repurchase account holding 3,303,000 shares, representing 2.32% of total shares, with no pledges or freezes[14] - The top ten shareholders do not include any shareholders participating in the securities lending business[14] - The company has no preferred shareholders or significant changes in restricted shares during the reporting period[15] - The company has not disclosed any related party transactions among the top ten shareholders[13] Operational Metrics - Total operating costs amounted to ¥765,773,145.81, up from ¥747,078,905.46, reflecting a rise of 2.5%[26] - Research and development expenses were ¥117,278,039.11, compared to ¥110,605,103.24, indicating an increase of 6.0%[26] - Accounts receivable rose to ¥822,035,565.53 from ¥731,269,224.10, representing an increase of 12.4%[22] - Inventory increased by 45.71% year-over-year to ¥548,046,191.88, attributed to a rise in orders and ongoing projects[10] - Inventory increased to ¥548,046,191.88 from ¥376,130,247.72, marking a significant rise of 45.6%[22] Investment and Financing - Investment income for the year-to-date period showed a loss of ¥3,826,042.02, a decline of 196.86% compared to the previous year, primarily due to losses from joint ventures[11] - Cash received from investment recoveries surged by 14,757.14% to ¥52,000,000.00, mainly due to the redemption of financial products[12] - The company’s long-term borrowings increased by 325.55% to ¥48,773,744.43, reflecting a rise in bank loans[10] Future Plans - The company plans to change the use of part of the raised funds, reallocating CNY 179.4 million from the "Basic Education Management and Service Integration Cloud Platform Project" to the "Higher Education Operation and Service Integration Platform Project"[17] - The company plans to continue investing in new technologies and market expansion strategies to drive future growth[26] Convertible Bonds - The company decided not to adjust the conversion price of its convertible bond "Zhengyuan Zhuang 02" despite the stock price falling below the adjustment threshold[19] - The company will not propose a downward adjustment of the conversion price for "Zhengyuan Zhuang 02" for the next six months, starting from October 16, 2025[20] - The total number of restricted shares at the end of the period is 2,786,071 shares, with 2,767,321 shares set to be released on April 15, 2025[16]

Core Insights - The company, Zhengyuan Wisdom, emphasizes its unique characteristics compared to similar enterprises, including the integration of software and hardware, as well as service operations [1] - The company has developed a digital industry ecosystem that encompasses hardware terminals, software platforms, and value-added services [1] - Leveraging its experience and technology in the education sector, the company is actively promoting the digital transformation and scalable development across various industries by exporting its mature digital solutions [1]

Core Viewpoint - Zhengyuan Zhihui (300645) confirmed on October 20 that the company's operations are normal and all work is progressing steadily, with no significant matters that should have been disclosed but were not [1] Group 1 - The company is operating normally and maintaining stable progress in its various activities [1] - There are no undisclosed significant matters that could impact investors [1]

Core Viewpoint - The company, Zhengyuan Wisdom, has officially launched its digital RMB international operation center in Shanghai, focusing on cross-border payments, blockchain services, and digital assets [1] Group 1: Business Development - The company is actively promoting the scenario-based services and social applications of digital RMB [1] - Future developments will align with industry policy guidance, market dynamics, and the company's strategic development plan [1] - The company aims to further optimize its digital RMB business layout and development [1]

Group 1 - The company, Zhengyuan Zhihui, confirmed that it currently has no business cooperation with Moore Threads [1]