其次是获客效率持续优化。洪恩选择将产品接入智能音箱与车载系统，把学习体验嵌入家庭与出行等高 频生活场景。在这些环境中，用户接触自然发生，无需额外营销即可实现有效触达。这种"场景即渠 道"的策略，在流量红利见顶的当下，显著提升了用户获取的性价比，也增加了渠道的丰富度。 本报讯 （记者李春莲）12月29日，北京洪恩教育科技股份有限公司（以下简称"洪恩"）发布2025年三 季度财报显示，第三季度实现营业收入2.058亿元，净利润为2160万元。 最后是品牌资产的厚植。洪恩旗下的鲲鹏动画工作室于今年10月推出《彩虹护卫队》第二季，自有IP的 持续运营说明洪恩正在构建内容护城河。这种持续深耕并不断推出精品内容的策略，正是洪恩持续厚植 品牌资产的关键所在。 作为中国领先的科技益智产品经营企业，洪恩不断加速数字化转型、强化精细化运营能力，业绩呈现稳 健发展态势，连续15个季度保持盈利。 连续15个季度盈利的背后，依靠的是洪恩建立的"三重驱动力"商业模式。首先是产品结构多元化。洪恩 AI伙伴的推出，打破了市场上同类产品"冰冷化"、陪伴玩具"浅层化"的割裂困境，其毛绒形态与无屏幕 设计，瞄准了家长对"护眼+情感陪伴"的需求，这 ...

Core Insights - iHuman Inc. reported its unaudited financial results for Q3 2025, highlighting a strategic focus on product innovation and expansion into older age cohorts to enhance user engagement and long-term growth [1][4][9]. Financial Performance - Revenues for Q3 2025 were RMB205.8 million (US$28.9 million), a decrease from RMB239.4 million in the same period last year, attributed to a decline in China's newborn population and conservative consumer spending [7][10]. - Gross profit was RMB140.6 million (US$19.8 million), down from RMB163.9 million year-over-year, with a gross margin of 68.3% compared to 68.4% in the previous year [12]. - Operating income decreased to RMB16.7 million (US$2.3 million) from RMB20.7 million in the same period last year [15]. - Net income was RMB21.6 million (US$3.0 million), down from RMB25.1 million year-over-year, with basic and diluted net income per ADS at RMB0.42 (US$0.06) and RMB0.40 (US$0.06), respectively [16]. User Engagement and Market Reach - Average total Monthly Active Users (MAUs) for Q3 were 26.13 million, down from 29.12 million in the same period last year, primarily due to the decline in China's newborn population [10]. - The company launched the second season of its successful Kunpeng Animation Studio's "Rainbow Crew," which has maintained high rankings among children's programs on major streaming platforms, enhancing brand influence [8]. Product Innovation - iHuman has made significant advancements in its product offerings, including enhancements to the iHuman English app and the introduction of the iHuman AI Pal, a plush AI companion designed to support children's learning and emotional development [5][6]. - The company is expanding its digital products into smart home ecosystems and in-vehicle experiences, partnering with NIO to integrate core apps into their electric vehicles, thereby broadening user access [9]. Financial Health - Cash, cash equivalents, and short-term investments totaled RMB1,128.2 million (US$158.5 million) as of September 30, 2025, a slight decrease from RMB1,168.7 million at the end of 2024 [18]. - Deferred revenue and customer advances were RMB230.4 million (US$32.4 million) as of September 30, 2025, down from RMB283.3 million at the end of 2024 [17]. Strategic Outlook - The company plans to continue prioritizing strategic investments in innovation and technology to meet evolving family needs, maintaining confidence in its brand and product pipeline for future growth [9].

转自：今晚报 【#洪恩识字自动续费扣款10个月无提醒# 律师：涉嫌侵犯消费者选择权】#客服称苹果支付导致APP自 动续费# 今年1月，天津市民张先生的孩子在使用"洪恩识字"APP时开通了会员。可直到11月，张先生才 发现，"洪恩识字"APP有自动续费功能，而且已经连续扣费10个月。通过栏目投诉后，12月中旬，市场 监管部门给予协调，商家同意为张先生退还5个月的会员费。针对此事，@津云新闻 记者咨询了天津律 云律师事务所合伙人刘波律师。《中华人民共和国消费者权益保护法实施条例》第二十条规定：经营者 采取自动展期、自动续费等方式提供服务的，应当以显著方式提请消费者注意，确保消费者在充分知情 的前提下自主选择。《网络交易监督管理办法》第十八条规定：网络交易经营者采取自动展期、自动续 费等方式提供服务的，应当在消费者接受服务前和自动展期、自动续费等日期前，以显著方式提请消费 者注意。刘波律师说，首先，上述条例和规定，都要求商家必须尊重并保障消费者的自主选择权。消费 者开通会员时默认自动续费，商家没有取消自动续费选项，涉嫌侵犯了消费者的自主选择权。然后，要 判断商家在页面上的"连续订阅"是否能够让消费者明确知晓会自动续 ...

据交易所数据显示，12月15日，洪恩(IH)开盘上涨5.61%，截至22:30，报2.26美元/股，成交1.33万美 元，总市值1.16亿美元。 财务数据显示，截至2025年06月30日，洪恩收入总额4.11亿人民币，同比减少8.78%；归母净利润 5840.7万人民币，同比增长24.36%。 12月25日，洪恩将披露2025财年三季报（数据来源于纳斯达克官网，预计披露日期为美国当地时间，实 际披露日期以公司公告为准）。 资料显示，洪恩公司是中国领先的科技益智产品企业。公司致力于让家长育儿更轻松,孩子成长更快 乐。受益于20余年的亲子行业经验、卓越的原创内容、先进的科技创新以及前沿研发实力的深厚积累, 洪恩为家长提供高效的亲子陪伴资源并通过独特、有趣的互动式产品体验,激发孩子们天然的好奇心与 探索欲。 洪恩经过创新研发的高品质、多种类的产品,包含自主互动App、互动内容和智能设备等,覆盖多样化的 主题内容,培养孩子们的语言力、逻辑力、阅读力与创造力以及对中国传统文化的自然兴趣。凭借在3D 引擎、AI/AR互动和儿童行为及心理的大数据分析方面所积累的独特先进的技术实力,洪恩将持续以高品 质的科技益智产品,为中国 ...

Editor's note: Seeking Alpha is proud to welcome Michael Ting as a new contributing analyst. You can become one too! Share your best investment idea by submitting your article for review to our editors. Get published, earn money, and unlock exclusive SA Premium access.I am a specialist in Asian equities after having been a sellside analyst for 13 years. I have covered the casino, automotive, industrial, consumer and technology sectors in Asia. I have also worked on the buyside as a fund manager in long only ...

Core Insights - The article introduces Michael Ting as a new contributing analyst specializing in Asian equities, emphasizing his extensive experience in various sectors including casino, automotive, industrial, consumer, and technology [2]. Group 1: Analyst Background - Michael Ting has 13 years of experience as a sell-side analyst and has also worked on the buy-side as a fund manager and analyst, focusing on Asian equities [2]. - His expertise includes a deep understanding of Asian companies and economies, particularly in China, with a focus on identifying companies with strong business fundamentals despite inherent risks [2]. - Ting has a track record of uncovering small-cap companies that have significantly increased in equity value, highlighting his ability to identify investment opportunities [2]. Group 2: Investment Philosophy - The analyst aims to assist investors in making informed decisions regarding Asian equities by focusing on fundamental analysis rather than momentum trading [2]. - He emphasizes the importance of examining key financial metrics, assessing balance sheet strength, and analyzing competitive advantages to identify companies lacking proper investment merit [2]. - The article also notes the prevalence of scams in Chinese small-cap companies, indicating a need for careful scrutiny to avoid share price manipulation [2].

Core Insights - iHuman Inc. will present at NobleCon21 on December 3rd, 2025, showcasing its tech-powered intellectual development products aimed at enhancing child upbringing experiences for parents and children [1][2]. Company Overview - iHuman Inc. is a leading provider of tech-powered intellectual development products in China, focusing on making child upbringing easier for parents and transforming intellectual development into an enjoyable journey for children [3]. - The company has nearly three decades of experience in the parenthood industry, combining superior original content, advanced technology, and research capabilities to empower parents [3]. - iHuman offers a comprehensive suite of innovative products, including self-directed apps, interactive content, and smart devices, aimed at developing children's abilities in speaking, critical thinking, independent reading, and creativity [3]. - The company leverages advanced technologies such as 3D engines, AI/AR functionality, and big data analysis to enhance the experience for both parents and children [3]. Event Details - Interested investors can attend the presentation at a discounted rate using the code [IHNOBLECON], and a high-definition video webcast will be available the following day on Noble Capital Markets' website and Channelchek [2].

Core Insights - Beijing Hongen Education Technology Co., Ltd. reported Q2 revenue of 200.2 million yuan and a net profit of 31.9 million yuan, marking the 14th consecutive quarter of profitability [1] - The company has entered a strategic partnership with the internationally recognized children's brand Cricket Media, enhancing its global content strategy and product offerings [1] - The collaboration introduces a new reading product, "Reading Stars," and strengthens Hongen's presence in the U.S. consumer market, improving brand recognition and establishing long-term distribution channels [1] Financial Performance - Q2 revenue reached 200.2 million yuan, with a net profit of 31.9 million yuan [1] - The company has maintained a steady operational capability, reflecting rigorous execution and a commitment to sustainable development [1] Strategic Partnerships - The partnership with Cricket Media brings diverse reading product resources, injecting new vitality into the global content strategy [1] - This collaboration is expected to enhance Hongen's international market expansion and brand influence [1] Market Positioning - In the context of industry growth slowdown, Hongen is diversifying its product matrix and expanding into international markets through strategic partnerships [1] - The company's future success will depend on its ability to deepen market penetration, optimize product innovation, and provide high-quality educational content [1]

Financial Performance - Revenues for Q2 2025 were RMB200.2 million (US$27.9 million), a decrease of 6.8% from RMB215.1 million in the same period last year[8] - Gross profit was RMB135.7 million (US$19.0 million), down from RMB151.7 million, resulting in a gross margin of 67.8%, compared to 70.5% last year[14] - Operating income increased to RMB19.5 million (US$2.7 million), compared to RMB18.8 million in the same period last year[17] - Net income rose to RMB31.9 million (US$4.5 million), up from RMB24.7 million, with basic and diluted net income per ADS at RMB0.62 (US$0.09) and RMB0.60 (US$0.08) respectively[18] - Total revenues for the three months ended June 30, 2025, were RMB 200,162, a decrease of 6.1% compared to RMB 215,107 for the same period in 2024[33] - Gross profit for the six months ended June 30, 2025, was RMB 279,524, down from RMB 319,846 in the same period of 2024, representing a decline of 12.6%[33] - Operating income for the three months ended June 30, 2025, was RMB 19,489, compared to RMB 18,827 for the previous quarter, reflecting an increase of 3.5%[36] - Net income for the three months ended June 30, 2025, was RMB 31,889, an increase of 29.5% from RMB 24,663 in the same period of 2024[33] - Adjusted net income for the three months ended June 30, 2025, was RMB 31,976, showing a growth of 25.5% year-over-year[36] Expenses and Liabilities - Total operating expenses decreased by 12.5% to RMB116.3 million (US$16.2 million) from RMB132.9 million in the same period last year[15] - Research and development expenses were RMB52.8 million (US$7.4 million), a decrease of 7.7% from RMB57.2 million last year[15] - Research and development expenses for the three months ended June 30, 2025, were RMB 52,834, a decrease of 7.5% from RMB 57,219 in the previous quarter[33] - Total liabilities increased to RMB 458,796 as of December 31, 2024, compared to RMB 365,696 as of June 30, 2025, indicating a rise of 25.5%[30] Cash and Investments - Cash, cash equivalents, and short-term investments were RMB1,100.1 million (US$153.6 million) as of June 30, 2025, down from RMB1,168.7 million at the end of 2024[20] - Cash and cash equivalents as of December 31, 2024, were RMB 1,123,292, significantly higher than RMB 605,136 as of June 30, 2025[30] User Metrics - Average total MAUs for the quarter were 23.72 million, a decline of 3.5% from 24.57 million in the same period last year[12] Strategic Initiatives - The company established a strategic partnership with Cricket Media to enhance its global content strategy and expand its presence in the U.S. education market[6] Deferred Revenue - Deferred revenue and customer advances were RMB240.0 million (US$33.5 million) as of June 30, 2025, compared to RMB283.3 million as of December 31, 2024[19] Shareholder Information - The weighted average number of ADSs for diluted earnings per share was 53,478,410 for the three months ended June 30, 2025[36]

Core Viewpoint - iHuman Inc. reported its unaudited financial results for the second quarter of 2025, highlighting a decrease in revenues and average monthly active users (MAUs), while maintaining profitability for the 14th consecutive quarter through product innovation and strategic partnerships [1][6][8]. Financial Performance - Revenues for the second quarter were RMB200.2 million (US$27.9 million), a decrease from RMB215.1 million in the same period last year [6][9]. - Gross profit was RMB135.7 million (US$19.0 million), down from RMB151.7 million year-over-year, with a gross margin of 67.8%, compared to 70.5% in the previous year [12][9]. - Operating income was RMB19.5 million (US$2.7 million), slightly up from RMB18.8 million in the same period last year [14][9]. - Net income increased to RMB31.9 million (US$4.5 million) from RMB24.7 million year-over-year, with basic and diluted net income per ADS at RMB0.62 (US$0.09) and RMB0.60 (US$0.08), respectively [15][9]. User Engagement and Product Development - Average total MAUs for the quarter were 23.72 million, down from 24.57 million in the same period last year [10][9]. - The flagship app, iHuman Chinese, introduced new features including photo recognition for Chinese characters and a speaking feature for real-time pronunciation feedback [4][6]. - Aha Makeover underwent a major upgrade, transforming into a story-driven experience with missions and a rewards system, enhancing user engagement [4][5]. Strategic Partnerships and Content Expansion - iHuman established a strategic partnership with Cricket Media to enhance its global content strategy, launching the Reading Stars app to provide interactive reading experiences [5][6]. - The company is expanding its entertainment content through its animation studio, Kunpeng, with the Cosmicrew franchise continuing to perform well on streaming platforms [6][7]. Operational Efficiency and AI Integration - Total operating expenses decreased by 12.5% to RMB116.3 million (US$16.2 million), with reductions in research and development, sales and marketing, and general administrative expenses [13][14]. - The company is actively integrating AI across its operations to improve user experiences and operational efficiencies [8][9].