Group 1 - The company announced a plan to repurchase shares through a concentrated bidding method, allowing for the reduction of up to 2,842,000 shares, which represents no more than 2% of the total share capital [2] - The total number of shares sold within any consecutive 90-day period will not exceed 1% of the company's total shares [2] - This decision was made during the fifth board meeting held on November 14, 2025, and follows the terms outlined in the repurchase report disclosed on February 3, 2024 [2]

Group 1 - The company, Zhengyuan Zhihui (300645.SZ), announced a plan to reduce its repurchased shares by a maximum of 2,842,000 shares, which accounts for no more than 2% of the total share capital [1] - The share reduction will be conducted through centralized bidding, with the total number of shares sold within any consecutive 90 natural days not exceeding 1% of the company's total shares [1]

Core Viewpoint - The company Zhengyuan Zhihui (300645.SZ) announced plans to reduce its repurchased shares by a maximum of 2% of its total share capital, amounting to no more than 2.842 million shares [1] Summary by Category - **Share Reduction Plan** - The company intends to reduce its repurchased shares through a centralized bidding process [1] - The maximum number of shares to be reduced is 2.842 million, which represents up to 2% of the company's total share capital [1]

Core Viewpoint - Zhengyuan Zhihui (300645.SZ) announced plans to reduce its repurchased shares by a maximum of 2% of the total share capital, amounting to 2.842 million shares through centralized bidding [1] Summary by Category - **Company Actions** - The company intends to reduce its repurchased shares by up to 2.842 million shares, which represents no more than 2% of its total share capital [1]

Group 1 - The company, Zhengyuan Wisdom, announced a plan to repurchase and reduce shares, allowing for the sale of up to approximately 2.84 million shares, which is not more than 2% of the total share capital [1] - The company reported that its revenue composition for the first half of 2025 was 63.32% from schools and 36.68% from enterprises and institutions [1] - As of the report, Zhengyuan Wisdom has a market capitalization of 2.7 billion yuan [1]

Group 1 - The company Zhengyuan Zhihui (300645) announced on November 14 that it plans to reduce its repurchased shares by no more than 2% of the total share capital, which amounts to a maximum of 2.842 million shares [1] - The funds obtained from the share reduction will be used to supplement the company's working capital needed for daily operations [1]

| 证券代码：300645 | 证券简称：正元智慧 | 公告编号：2025-101 | | --- | --- | --- | | 债券代码：123196 | 债券简称：正元转 02 | | 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"）第五届董事会第九次会议于 2025 年 11 月 14 日下午 15:00 在公司会议室以通讯方式召开，会议通知已于 2025 年 10 月 28 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、审议通过《关于回购股份集中竞价减持计划的议案》 董事会认为：公司本次减持已回购股份的所得资金，将用于补充公司日常经 营所需要的流动资金，有利于提高资金使用效率，推动公司业务拓展，提升公司 持续经营能力，维护公司和广大投资者的利益，同意公司以集中竞价方式减持已 回购股份不超过 2,842,000 股，即不超过公司总股本 2%。在任意连续 90 个自然 ...

Core Viewpoint - The education industry is experiencing a positive performance driven by policy improvements, demand release, and supply constraints, referred to as a "three-dimensional resonance" [1] Industry Overview - The education policy continues to optimize, and the AI+ education wave is emerging, which is expected to lead to a "Davis double hit" in performance and valuation for the industry [1] - The national two sessions in 2025 proposed to expand high-quality undergraduate enrollment, with an increase of 20,000 students in "Double First Class" universities, contributing to a growing demand for campus infrastructure and digital services [2] - The AI market in China is projected to grow from approximately $40 billion in 2024 to $170 billion by 2030, with a compound annual growth rate of 22.96% [2] Company Profile - Zhengyuan Wisdom is a leading provider of smart campus solutions and has established a diversified revenue structure through an integrated framework of "digital base + application services + intelligent terminals" [2] - The company has covered over 1,400 universities nationwide, with a market share ranking among the top in the country, and has launched successful solutions like the "Smart Logistics Integration Solution" [4] - The "Yixiaoyuan" APP platform has over 20 million users, with daily active users exceeding 3.5 million [4] AI Strategy - Zhengyuan Wisdom plans to accelerate its AI strategy by enhancing its product system with AI capabilities and applying AI across various educational scenarios [3] - The company aims to create a dedicated industry model for the education sector, leveraging its accumulated business understanding and data advantages [3] Financial Performance - In Q3 2025, Zhengyuan Wisdom reported a net profit of 25.56 million yuan, a year-on-year increase of 37.2%, with a 69% growth in net profit excluding non-recurring items, indicating significant improvement in core profitability [6] - The company's operating and service revenue for 2024 increased by 67.53 million yuan, reaching 399.67 million yuan, with a year-on-year increase in revenue share [5] Future Outlook - The company is committed to sustainable high-quality development, focusing on the historical opportunities presented by artificial intelligence and enhancing the application of AI models in the education sector [6] - Zhengyuan Wisdom plans to expand its market reach, particularly in basic education and government projects, while integrating internal and external resources to enhance collaborative value [6]

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]