OFFCN EDU(SZ:002607) Zheng Quan Shi Bao Wang·2025-10-30 11:15Core Viewpoint - The report highlights that Zhonggong Education has achieved a net profit growth of 39.34% quarter-on-quarter in Q3 2025, marking seven consecutive quarters of profitability, indicating a recovery in the company's earnings capacity [1][2]. Financial Performance - For the first three quarters of 2025, the company reported a total revenue of 1.657 billion yuan, with Q3 revenue reaching 502 million yuan [1]. - The net profit attributable to shareholders in Q3 was 30.3621 million yuan, reflecting a 39.34% increase compared to Q2 [1]. - The total operating costs for Q3 were 474 million yuan, a decrease of 15.72% year-on-year and a 13.98% reduction quarter-on-quarter [1]. - Sales expenses in Q3 amounted to 114 million yuan, down 29.31% year-on-year, attributed to organizational adjustments and digital transformation efforts [1]. Operational Efficiency - The company has optimized its operating efficiency and product models, contributing to a positive net profit for seven consecutive quarters, indicating a sustained upward trend in profitability [1]. - The operating cash flow has been positive for three consecutive quarters, showing a gradual recovery in the company's cash-generating ability [1]. New Business Development - The new business segment has shown strong growth, with the AI employment learning machine completing upgrades and achieving cumulative sales of over 10,000 units, becoming a mainstream choice for candidates [2]. - With the upcoming 2026 national examination, the company anticipates a new business cycle that may further enhance profitability, as the number of approved candidates for the national exam has surpassed 3.7 million, setting a new historical peak [2]. - The average competition ratio for the national exam has increased from 76:1 to 98:1, indicating a rising trend that may positively impact the provincial exams and other related assessments [2].