竞业达：2025年1-9月公司实现营业收入1.9亿元，教育收入占比79%

Core Viewpoint - The company reported a revenue of 190 million yuan for the first three quarters of 2025, with education revenue accounting for 79% of total revenue, indicating a significant reliance on this segment [1] Group 1: Revenue and Financial Performance - The company's revenue fluctuation is primarily influenced by seasonal factors, with a notable decrease in revenue from rail transit projects, which dropped by 93.1 million yuan year-on-year, contributing to the overall decline in revenue [1] - Despite the short-term profit pressure due to project acceptance seasonality and strategic investments, the company maintains a robust order reserve in core businesses such as smart education and smart rail [1] Group 2: Strategic Investments and Growth Initiatives - The company is committed to investing and positioning itself in key areas such as industry large models, AIGC applications, and intelligent agents, with R&D expenditure increasing by 7.82% year-on-year [1] - The company is accelerating the construction of its marketing system and expanding its national sales network, resulting in an increase of approximately 250 employees compared to the end of 2024, which led to a rise in three major expenses by 14.97 million yuan year-on-year [1] Group 3: Long-term Development Outlook - The company is building momentum for the next phase of recovery and development through its marketing system expansion and talent investment, continuously strengthening its long-term development foundation [1]