世纪天鸿教育科技股份有限公司 2023 年年度股东大会决议公告 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。 证券代码：300654 证券简称：世纪天鸿 公告编号：2024-018 特别提示： 1、本次股东大会未出现否决议案的情形； 2、本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 1、会议召开情况 （1）会议召开时间： 现场会议时间：2024年4月22日14:30 网络投票时间：通过深圳证券交易所交易系统进行网络投票的时间为2024年 4月22日的交易时间，即9:15-9:25，9:30-11:30和13:00-15:00；通过互联网投票系 统的进行网络投票的具体时间为股东大会召开当日9:15-15:00。 （2）会议召开地点：淄博市高新区天鸿路9号，公司四楼会议室。 （6）会议召开的合法、合规性：本次会议的召集、召开和表决程序符合 《公司法》《深圳证券交易所股票上市规则》等有关法律、行政法规、部门规 章、规范性文件和《公司章程》的规定。 2、会议出席情况 （1）参加本次股东大会现场会议和网络投票的股东及股东授权委托代表共 18 ...

国投证券股份有限公司 | 1．是否建立了防止控股股东、实际控制人及其关联人直接或者间 | 是 | | | | --- | --- | --- | --- | | 接占用上市公司资金或者其他资源的制度 | | | | | 2．控股股东、实际控制人及其关联人是否不存在直接或者间接 | 是 | | | | 占用上市公司资金或者其他资源的情形 | | | | | 3．关联交易的审议程序是否合规且履行了相应的信息披露义务 | 注 是 | | | | 4．关联交易价格是否公允 | 是 | | | | 5．是否不存在关联交易非关联化的情形 | 是 | | | | 6．对外担保审议程序是否合规且履行了相应的信息披露义务 | | | 不适用 | | 7．被担保方是否不存在财务状况恶化、到期不清偿被担保债务等 | | | 不适用 | | 情形 | | | | | 8．被担保债务到期后如继续提供担保，是否重新履行了相应的审 | | | 不适用 | | 批程序和披露义务 | | | | | （五）募集资金使用 | | | | | 现场检查手段：查阅三方监管协议、银行对账单、募集资金使用审批表等，并对公司总经理、 | | | | | ...

国投证券股份有限公司 关于世纪天鸿教育科技股份有限公司 2023 年年度持续督导跟踪报告 | 保荐机构名称：国投证券股份有限公司 | 被保荐公司简称：世纪天鸿（300654） | | --- | --- | | 保荐代表人姓名：何畏 | 联系电话：021-35082257 | | 保荐代表人姓名：孙素淑 | 联系电话：021-55518389 | 一、保荐工作概述 1 | 项目 | 工作内容 | | --- | --- | | （3）现场检查发现的主要问题及整改情况 | 不适用 | | 6．发表专项意见情况 | - | | （1）发表专项意见次数 | 5 次 | | （2）发表非同意意见所涉问题及结论意见 | 无 | | 7．向本所报告情况（现场检查报告除外） | - | | （1）向本所报告的次数 | 次 0 | | （2）报告事项的主要内容 | 不适用 | | （3）报告事项的进展或者整改情况 | 不适用 | | 8．关注职责的履行情况 | - | | （1）是否存在需要关注的事项 | 否 | | （2）关注事项的主要内容 | 不适用 | | （3）关注事项的进展或者整改情况 | 不适用 | | 9．保荐 ...

Investment Rating - The report maintains an "Overweight" rating for Century Tianhong, with current valuations at 84.6x, 71.1x, and 59.9x for 2024-2026 respectively [12][61] Core Views - Century Tianhong's 2023 revenue reached RMB 507 million, a YoY increase of 17.2%, with net profit attributable to shareholders of RMB 42 million, up 18.9% YoY [1][64] - The company's gross margin improved significantly to 37.2% in 2023, up 4.1 percentage points YoY, driven by enhanced R&D capabilities and product quality [33][70] - Century Tianhong's smart education products continue to break through, with the "Xiaohong Teaching Assistant 4.0" version being upgraded and the "Bishen Composition" APP accumulating over 18 million users [21] Financial Performance Revenue and Profit - 2023Q4 revenue was RMB 139 million, up 3.3% YoY, with net profit attributable to shareholders of RMB 11 million, a 33.4% YoY increase [1] - Non-GAAP net profit attributable to shareholders in 2023 was RMB 39 million, up 27.2% YoY [1] Cost Structure - 2023 sales, management, and R&D expense ratios were 14.6%, 10.6%, and 1.0% respectively, with sales expenses increasing due to marketing and salary expenditures [2][21] - 2023Q4 sales, management, and R&D expense ratios were 18.2%, 11.0%, and 1.2% respectively, showing significant increases compared to the same period last year [2] Profitability - 2023 gross margin for educational materials was 35.0%, up 3.6 percentage points YoY, while consulting services gross margin reached 74.3%, up 4.7 percentage points YoY [16] - 2023Q4 gross margin was 42.2%, up 10.4 percentage points YoY, with a net margin of 8.0%, up 2.3 percentage points YoY [33] Business Development - The company published 2,818 books in 2023, totaling approximately 1.1 billion words, and upgraded the 2024 edition of the "Blue Book of College Entrance Examination" [59] - Century Tianhong's digital education solutions have been piloted and promoted in provinces such as Shandong and Guangdong, offering a comprehensive package of "technology platform + content resources + teaching research services" [21] Industry Outlook - The growth rate of the national birth rate and the number of K12 students is lower than expected, which may impact the demand for educational materials [8] - The rapid growth of short video and live e-commerce in retail channels may further intensify competition in the book industry, potentially squeezing profit margins [62]

◼ 公司 2023 年收入实现 5.07 亿元，同比增长 17.2%；归母净利润实现 42.34 百万元，归母净利率同比略微提升至 8.3%；扣非归母净利润实现 38.93 百万元，扣非归母净利率约 7.7%。23Q4 收入实现 1.39 亿元，同 比增长 3.3%；归母净利润实现 10.95 百万元，扣非归母净利润实现 9.33 百万元，扣非归母净利率同比提升 1.8pct 至 6.7%。2023 年度公司拟派 发现金红利约 1819 万元。 《世纪天鸿(300654)：小鸿助教持续 迭代，看好公司 AI+教育业务发展》 2023-12-12 公司点评报告 请务必阅读正文之后的免责声明部分 免责及评级说明部分 东吴证券投资评级标准 买入：预期未来 6 个月个股涨跌幅相对基准在 15%以上； 增持： 预期未来 6 个月内，行业指数相对强于基准 5%以上； 中性： 预期未来 6 个月内，行业指数相对基准-5%与 5%； 减持： 预期未来 6 个月内，行业指数相对弱于基准 5%以上。 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- ...

Investment Rating - The report maintains a "Hold" rating for the company, indicating that it is expected to perform in line with the market over the next six months [10][12]. Core Views - The company is projected to achieve revenue growth of 16% in 2024, followed by 6.9% in 2025 and 6.4% in 2026, with net profit growth rates of 33.5%, 11.7%, and 8.1% respectively [2][12]. - The integration of research and marketing activities is expected to enhance market penetration and drive sales growth [11][24]. Financial Summary - The company reported a revenue of 510 million yuan in 2023, representing a year-on-year increase of 17.2%, with a net profit of 42.34 million yuan, up 18.9% [10][12]. - Forecasted revenues for 2024, 2025, and 2026 are 588.4 million yuan, 629.3 million yuan, and 669.5 million yuan respectively, with corresponding net profits of 56.53 million yuan, 63.15 million yuan, and 68.23 million yuan [2][13]. - The projected PE ratios for 2024, 2025, and 2026 are 84, 75, and 69 respectively [12][13]. Business Segments - The company anticipates a 15% growth in the issuance of educational supplementary books in 2024, with a gradual decline to 5% in subsequent years, while maintaining stable pricing [18][30]. - The gross margin for educational supplementary books is expected to improve slightly, reaching 35.5% in 2024 and 36.5% by 2026 [30]. Market Position - The company is positioned as a leading player in the private publishing sector, with a focus on AI in education, which is expected to further open growth opportunities [12][25]. - The integration of AI technology in products like "Xiao Hong Assistant" is showing initial success, with significant user engagement and content generation capabilities [25][26].

Financial Performance - The company's operating revenue for 2023 reached ¥507,410,689, representing a 17.20% increase compared to ¥432,962,210 in 2022[16]. - The net profit attributable to shareholders for 2023 was ¥42,335,482, an 18.86% increase from ¥35,605,959 in 2022[16]. - The net profit after deducting non-recurring gains and losses was ¥38,928,496, marking a 27.19% increase from ¥30,594,509 in 2022[16]. - The total assets at the end of 2023 amounted to ¥1,123,506,725, a 7.78% increase from ¥1,041,883,057 at the end of 2022[16]. - The net assets attributable to shareholders increased by 5.66% to ¥821,142,655 at the end of 2023 from ¥777,142,765 at the end of 2022[16]. - The company reported a basic earnings per share of ¥0.12 for 2023, a 20.00% increase from ¥0.10 in 2022[16]. - The company achieved a revenue of 507 million yuan in 2023, representing a year-on-year growth of 17.20%[54]. - The net profit attributable to shareholders reached 42.34 million yuan, an increase of 18.86% compared to the previous year[54]. - The main business revenue accounted for ¥501,041,211.63, which is 98.74% of total revenue, showing a 16.92% growth from ¥428,522,113.44 in the previous year[66]. Dividend Distribution - The company plans to distribute a cash dividend of 0.50 RMB per 10 shares (including tax) based on a total share capital of 363,863,206 shares as of December 31, 2023[3]. - The company has a total of 363,863,206 shares outstanding as of the end of 2023, which will be the basis for the dividend distribution[3]. - The company’s cash dividend distribution plan aligns with its articles of association and dividend management policies[164]. - The company has no plans for stock bonuses or capital reserve conversion in the current fiscal year, focusing solely on cash dividends[165]. Market Position and Strategy - The company operates in a mature and stable competitive landscape within the educational auxiliary book industry, with a solid market share and low risk of significant competitive disruption[26]. - The company has established strong barriers to entry in the educational auxiliary market due to high resource control requirements and regulatory policies[26]. - The company is well-positioned in the market due to its industry resources, content quality, brand, and channel advantages[26]. - The company aims to leverage the growing market for educational products and services, which supports a market size exceeding RMB 10 trillion, by focusing on AI and educational technology[105]. - The company will continue to focus on the core educational support business while expanding its brand presence in the consumer market[105]. Research and Development - The company has a product development capability of over 3,000 new items annually, supported by a comprehensive research and development team[49]. - The company is actively investing in AI, big data, and cloud computing technologies to enhance its educational offerings and explore new applications in smart education[40]. - The company is enhancing its research and development capabilities by implementing a "dual product manager system" to ensure effective integration of research and sales[107]. - The company has established a professional team focused on new college entrance examination consulting services, utilizing educational big data to offer various systems and services for schools and students[40]. Educational Trends and Opportunities - The number of students in primary, junior high, and high school reached 108.36 million, 52.44 million, and 28.04 million respectively in 2023, showing increases of 1.0397 million, 1.231 million, and 897,500 compared to the previous year[27]. - The national college entrance examination (Gaokao) candidates are projected to grow from 10.78 million in 2021 to 13.53 million in 2024, indicating a steady increase in demand for educational materials[27]. - The ongoing high school entrance examination reform across 29 provinces is expected to create new opportunities for educational content providers, as the focus shifts towards comprehensive student development[33]. - The new examination reforms emphasize practical problem-solving and the integration of teaching and assessment, providing a favorable environment for companies with strong educational content capabilities[34]. Technology Integration - The Ministry of Education's 2023 action plan emphasizes the integration of digital technology in education, aiming to enhance teaching quality and efficiency through digital resources and innovative teaching methods[29]. - The government is promoting the "AI + Education" initiative, which aims to develop a competitive digital industry cluster, thereby increasing the demand for digital educational products[30]. - The introduction of advanced AI models like GPT and Gemini is expanding the application of AIGC technology in education, enhancing the quality and accessibility of educational content[31]. - The company is strategically focusing on the development of AI and digital educational products to meet the evolving needs of teachers and students, aiming to improve teaching efficiency and personalized learning[35]. Operational Efficiency - The company is focusing on expanding its direct sales channels and e-commerce partnerships to enhance its market reach and operational efficiency[42]. - The company has implemented a "research and sales integration" strategy, enhancing its research capabilities and product offerings[55]. - The company is restructuring its marketing system and exploring new business models to drive growth, particularly in the "in-school" business[108]. - The company has implemented new strategies to improve operational efficiency, aiming for a cost reduction of around 5% in the upcoming fiscal year[140]. Governance and Compliance - The company emphasizes strict compliance with corporate governance regulations, ensuring independent operations from its controlling shareholders[125]. - The board of directors consists of 7 members, including 3 independent directors, ensuring compliance with legal requirements[126]. - The company maintains a commitment to social responsibility and stakeholder engagement, balancing interests among shareholders, employees, and the community[130]. - The company has established an independent financial department with dedicated personnel and a standardized accounting system, ensuring independent financial decision-making[133]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements and potential operational risks in future business development[3]. - The company faces risks from policy changes that could impact the educational publishing industry, necessitating close monitoring of regulatory developments[113]. - The company acknowledges the existence of internal and external risks that may affect future profitability, and the implementation of measures does not guarantee future profits[197]. Employee Development - The company has established a comprehensive training system to enhance employee skills and support strategic goals[163]. - The company has invested in talent development, selecting over 100 employees for its "third tier" plan to cultivate future core talents[63]. - The company has implemented a performance evaluation mechanism to ensure competitive compensation for employees[161]. - The company is committed to strengthening its talent acquisition and training efforts to support sustainable development[111].

国投证券股份有限公司 关于世纪天鸿教育科技股份有限公司 2023 年度募集资金存 放与使用情况的专项核查意见 国投证券股份有限公司（2023 年 12 月由"安信证券股份有限公司"更名为 "国投证券股份有限公司"，以下简称"国投证券"或"保荐机构"）作为世纪天 鸿教育科技股份有限公司（以下简称"世纪天鸿"或"公司"）首次公开发行股 票并在创业板上市持续督导、2020 年向特定对象发行股票并在创业板上市及持 续督导的保荐机构，根据《证券发行上市保荐业务管理办法》《深圳证券交易所 创业板股票上市规则（2023 年 8 月修订）》《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（2023 年 12 月修订）》《深圳证券交易 所上市公司自律监管指引第 13 号—保荐业务》等有关法律法规的规定，对世纪 天鸿 2023 年度募集资金存放与使用情况进行了核查，具体情况如下： 2．向特定对象发行股票募集资金 经中国证监会《关于同意世纪天鸿教育科技股份有限公司向特定对象发行股 票注册的批复》（证监许可〔2021〕1657 号）同意，公司向特定对象发行人民币 普通股（A 股）股票 29,843,080 ...

独立董事 2023 年度述职报告 本人潘石坚作为世纪天鸿教育科技股份有限公司（以下简称"公司"）的独 立董事，严格按照《公司法》《关于加强社会公众股股东权益保护的若干规定》 《关于在上市公司建立独立董事制度的指导意见》《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》等有关法律法规、规范性文件 及《公司章程》《公司独立董事工作制度》的规定和要求，独立履行职责，主动 了解公司生产、经营情况，按时出席公司 2023 年任职期间的相关会议，认真审 议各项议案，并依法对相关事项发表独立意见，切实维护了公司股东特别是中小 股东的利益。现就 2023 年任职期间本人履职情况报告如下： 一、出席会议情况 2023 年任职期间，本人严格按照法律法规、规范性文件等关于公司独立董 事的要求，独立公正履行职责，勤勉尽职，未发生缺席应出席会议的情形。2023 年任职期间，本人亲自出席了公司召开的董事会会议 6 次，列席了公司 2022 年 年度股东大会、2023 年第一次临时股东大会。在会议期间，本人认真仔细审阅会 议相关材料，与相关人员充分沟通；积极参与各项议题的讨论，以谨慎的态度行 使表决权，充分发表独 ...

世纪天鸿教育科技股份有限公司监事会 关于公司 2023 年度内部控制自我评价报告的核查意见 世纪天鸿教育科技股份有限公司监事会 2024 年 3 月 27 日 根据《企业内部控制基本规范》《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》等法律法规的要求，结合世纪天鸿教育科技 股份有限公司（以下简称"公司"）内部控制制度，在内部控制日常监督和专项监 督的基础上，公司董事会对公司截至 2023 年 12 月 31 日的内部控制有效性进行 了评价，并出具《2023 年度内部控制自我评价报告》。公司监事会审阅了公司 《2023 年度内部控制自我评价报告》，现发表意见如下： 2023 年度，公司根据《公司法》《证券法》《深圳证券交易所创业板股票上市 规则》《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》《企业内部控制基本规范》《公司章程》及相关规定，结合公司实际情况， 建立了较为完善和合理的内部控制体系，并且得到了有效地执行。内部控制体系 的建立与有效执行保证了公司各项业务活动的有序、高效开展，起到了较好的风 险防范和控制作用，确保公司资产的安全、完整，维护了公司及 ...