地址：北京市丰台区丽泽路 16 号聚杰金融大厦 12 楼 邮编：100073 电话：(010) 63357658 北京澄宇会计师事务所(特殊普通合伙) BEIJING CHENGYU CERTIFIED PUBLIC ACCOUNTANTS LLP 江阴启芯领航半导体有限公司 2025年9月30日 审计报告 目 录 | 一、审计报告 | 1-3 | | --- | --- | | 二、已审财务报表 | | | 5．资产负债表 | 4-5 | | 6．利润表 | 6 | | 7．现金流量表 | 7 | | 8．所有者（股东）权益变动表 | 8-9 | | 9．财务报表附注 | 10-38 | 审计报告 澄宇专字( 2025 )第0057号 江阴启芯领航半导体有限公司全体股东： 一、审计意见 我们审计了江阴启芯领航半导体有限公司（以下简称江阴启芯）财务报 表，包括 2025 年 9 月 30 日的合并资产负债表，2025 年度 1-9 月的合并利润 表、合并现金流量表、合并股东权益变动表以及相关财务报表附注。 我们认为，后附的财务报表在所有重大方面按照企业会计准则的规定编 制，公允反映了江阴启芯 2025 年 9 ...

证券代码：000526 证券简称：学大教育 公告编号：2026-002 学大（厦门）教育科技集团股份有限公司 关于财务负责人辞职及聘任财务负责人的公告 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。 一、财务负责人辞职情况 学大（厦门）教育科技集团股份有限公司（以下简称"公司"）董事会于近 日收到副总经理、财务负责人李玉玲女士提交的书面辞职报告，李玉玲女士因个 人工作安排原因辞去公司副总经理、财务负责人职务，其辞职事项自辞职报告送 达董事会时生效。辞职后，李玉玲女士不再担任公司及控股子公司任何职务。截 至本公告披露之日，李玉玲女士未持有公司股票，承诺遵守中国证监会及深圳证 券交易所股份管理相关规定，不存在应当履行而未履行的承诺事项，亦没有特别 向董事会说明的情况。 根据《公司法》《深圳证券交易所股票上市规则》《深圳证券交易所上市公司 自律监管指引第 1 号——主板上市公司规范运作》等法律法规、规范性文件及 《公司章程》的有关规定，李玉玲女士辞去公司财务负责人及副总经理职务的申 请自书面辞职报告送达公司董事会之日起生效。 公司董事会对李玉玲女士任职期间所做贡献表 ...

证券代码：000526 证券简称：学大教育 公告编号：2026-003 学大（厦门）教育科技集团股份有限公司 关于与关联方专业投资机构共同新设合伙企业及对外投资 的公告 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。 1、基本信息 企业名称：共青城学成启航创业投资合伙企业（有限合伙） 基金规模：3611 万元 组织形式：有限合伙企业 执行事务合伙人：银润（上海）私募基金管理有限公司 一、交易概述 学大（厦门）教育科技集团股份有限公司（以下简称"公司"）为拓展战略 业务发展空间，积极顺应国家新兴产业导向和打造高技能人才教育新场景，拟通 过全资子公司北京学大信息技术集团有限公司（以下简称"学大信息"）以新设 合伙企业的方式，向专注 EDA 工具与半导体 IP 研发的江阴启芯领航半导体有限 公司（以下简称"江阴启芯领航""投资标的"）进行增资，预计新设合伙企业 认缴出资额不超过人民币 3,610 万元，向江阴启芯领航增资金额不超过人民币 3,500 万元，投资完成后预计持有江阴启芯领航股权 6.4791%。其中，新设合伙 企业及投资江阴启芯领航涉及关联交易。 公司于 ...

证券代码：000526 证券简称：学大教育 公告编号：2026-001 （一）审议通过《关于聘任财务负责人的议案》 学大（厦门）教育科技集团股份有限公司 第十一届董事会第五次会议决议公告 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。 一、董事会会议召开情况 学大（厦门）教育科技集团股份有限公司（以下简称"公司"）第十一届董 事会第五次会议的通知已于 2026 年 1 月 23 日以电子邮件方式送达全体董事，本 次会议于 2026 年 1 月 26 日上午 10:00 在北京市朝阳区樱辉科技中心学大教育会 议室以现场结合通讯方式召开。本次会议应参加表决董事 8 人，实际参加表决董 事 8 人，本次会议由董事长金鑫先生主持。公司高级管理人员列席了本次会议。 本次会议的召开符合《中华人民共和国公司法》等有关法律、法规、规范性文件 和《公司章程》的有关规定。经与会董事审议，一致表决通过了如下事项： 二、董事会会议审议情况 表决结果：同意：8 票，反对：0 票，弃权：0 票。 该议案已经公司第十一届董事会提名委员会 2026 年第 1 次会议、第十一届 董事会审计委员 ...

Market Overview - The education sector experienced a decline of 2.45% on January 26, with China High-Tech leading the drop [1] - The Shanghai Composite Index closed at 4132.61, down 0.09%, while the Shenzhen Component Index closed at 14316.64, down 0.85% [1] Individual Stock Performance - Notable performers included: - Chuangye Heima (300688) with a closing price of 32.56, up 2.88% and a trading volume of 201,700 shares, totaling 662 million yuan [1] - ST Guohua (600636) closed at 9.51, up 0.53% with a trading volume of 50,600 shares, totaling 47.77 million yuan [1] - Conversely, China High-Tech (600730) saw a significant drop of 6.00%, closing at 10.50 with a trading volume of 420,400 shares, totaling 452 million yuan [2] - Other notable declines included: - Kede Education (300192) down 4.52% to 21.75 [2] - Dongshi ST (603377) down 0.51% to 3.91 [1] Capital Flow Analysis - The education sector experienced a net outflow of 441 million yuan from institutional investors, while retail investors saw a net inflow of 377 million yuan [2] - The capital flow for individual stocks showed: - Chuangye Heima had a net outflow of 51.57 million yuan from institutional investors [3] - ST Guohua experienced a net outflow of 4.60 million yuan from institutional investors [3] - Kede Education had a net inflow of 4.29 billion yuan from retail investors [2]

相对走势 -10% 3% 17% 30% 2025/1 2025/7 2026/1 消费者服务 沪深300 教育行业周报 2026 年普通高校招生工作部署，学科专业迭代优化 glmszqdatemark 行业动态：（1）1 月 16 日，教育部发布《关于做好 2026 年普通高校招生工作的 通知》，对 2026 年普通高校招生工作进行部署。《通知》要求，各地各高校要围 绕科技创新、产业发展、国家战略需求，进一步向基础学科、新兴学科、交叉学 科和急需学科专业倾斜，加快推进存量学科专业的迭代优化。《通知》围绕考试招 生安全公平、招生计划向重点学科及中西部等地区倾斜、深化考试招生制度改革、 优化招考服务、职教高考、特殊类型招生等方面部署工作，助力教育高质量发展。 （2）1 月 19 日，教育部等七部门印发意见推进中华优秀语言文化传承发展。教 育部等 7 部门印发《关于深入推进中华优秀语言文化传承发展 提高全民语言文 化素养的意见》。《意见》旨在推动中华优秀语言文化创造性转化、创新性发展， 提升全民尤其是青少年语言文化素养，服务铸牢中华民族共同体意识与构建人类 命运共同体，为建设教育强国、文化强国和人才强国提供支撑。 ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 600636 | *ST国化 | 9.35 | 0.97% | 5.22万 | 4845.76万 | | | 000526 | 学大教育 | 40.64 | 0.69% | 1.42万 | 5742.15万 | | | 605098 | 行动教育 | 46.35 | 0.65% | 9676.0 | 4461.85万 | | | 003032 | *ST传智 | 6.73 | 0.45% | 1 5.19万 | 3480.85万 | | | 002093 | 国脉科技 | 11.61 | 0.43% | 22.13万 | | 2.57亿 | | 002659 | 凯文教育 | 6.35 | 0.32% | 18.90万 | | 1.20亿 | | 300192 | 科德教育 | 22.92 | 0.22% | 12.92万 | | 2.96亿 | | 300359 | 全通教育 | 5.63 | 0.00% | 14.12万 | 7 ...

Investment Rating - The industry investment rating is "Buy" [3] Core Insights - In December 2025, the year-on-year growth of social retail sales was 0.9%, with a total of 4.5 trillion yuan, indicating a decline of 0.4 percentage points compared to November 2025. Excluding automobiles, the total was 4.0 trillion yuan, growing by 1.7% year-on-year [5] - The report emphasizes the importance of service consumption sectors for the upcoming Spring Festival opportunities [5] - The report suggests a shift in retail industry logic from "adjusting input" to "adjusting output," with a focus on improving same-store sales and customer flow, which will enhance profit elasticity as the share of high-margin private brands increases [5] Summary by Sections Retail Sector Performance - In December 2025, retail sales of goods reached 3.9 trillion yuan, growing by 0.7% year-on-year, while catering revenue was 0.6 trillion yuan, with a year-on-year growth of 2.2% [5] - The growth rates for various categories in December included: - Grain and oil food retail sales grew by 3.9% - Beverage retail sales grew by 1.7% - Tobacco and alcohol retail sales declined by 2.9% [5] - In the optional consumer goods category, cosmetics and gold and silver jewelry retail sales grew by 8.8% and 5.9%, respectively [5] E-commerce Insights - The e-commerce penetration rate slightly decreased, with online retail sales of physical goods reaching 13.1 trillion yuan in 2025, a year-on-year increase of 5.2%. The penetration rate was 26.1%, a decrease of 0.7 percentage points year-on-year [5] - For the year, the growth rates for e-commerce categories were: food (14.5%), clothing (1.9%), and daily necessities (4.1%) [5] Investment Recommendations - Retail: Focus on companies like Bubugao, Huijia Times, Yonghui Supermarket, and Chongqing Department Store [5] - Cosmetics: Prefer high-end brand assets and consider low-positioned stocks like Maogeping and Yixian E-commerce [5] - Jewelry: Anticipate strong sales during the traditional gold sales peak in Q1, with recommendations for Laopu Gold and Mankalon [5] - Tourism: Focus on winter sports themes and the Spring Festival market, with recommendations for Changbai Mountain and Huangshan Tourism [5] - Education: Highlight opportunities in undervalued vocational education stocks like China Oriental Education and Action Education [5]

Group 1 - The core activity "National Studies Immersion · Parent-Child Reading" was launched by Xueda Education and Beijing Zhongxue Business District Experimental Primary School, focusing on the theme of "Ren" and promoting the reading of classic texts like "Disciples' Rules" among first-grade students [1][2] - The initiative aims to cultivate cultural confidence and moral character in children through systematic and deep reading of classics, responding to the upcoming "National Reading Promotion Regulations" and the first national "National Reading Activity Week" [2][3] - The collaboration reflects a consensus on "holistic education" and aims to create a new model for "book-scented campus" construction, emphasizing the importance of reading in personal and national development [3][8] Group 2 - The "National Reading Promotion Regulations" set to be implemented by December 2025 signify a new phase of institutionalized reading promotion, aiming to create a comprehensive and efficient reading promotion system [3][8] - Xueda Education's founder emphasized the importance of physical spaces for deep reading in the digital age, positioning bookstores as incubators for knowledge and public spaces for spiritual growth [3][5] - The bookstore has developed a composite operational model focusing on children's and family-friendly reading ecosystems, offering personalized reading guidance and a complete operational loop from content planning to professional reading guidance [5][8] Group 3 - The partnership aims to address the challenges of limited resources and scenarios in education by integrating school curricula with external cultural services, aligning with the emphasis on strengthening "book-scented campus" construction in the regulations [10] - The bookstore's activities have seen significant engagement, with nearly 2000 cultural reading events planned for 2024 and 2025, reaching over 49,510 participants, indicating the viability of its business model and its impact on cultural needs [8][10] - The collaboration also aims to enhance teachers' reading guidance capabilities, aligning with the regulations' focus on improving teacher training in reading guidance [10]

Market Overview - The education sector declined by 0.8% on January 19, with ST Dongshi leading the drop [1] - The Shanghai Composite Index closed at 4114.0, up 0.29%, while the Shenzhen Component Index closed at 14294.05, up 0.09% [1] Individual Stock Performance - Key performers included: - Kede Education (300192) with a closing price of 24.14, up 5.05% and a trading volume of 356,200 shares, totaling 847 million yuan [1] - ST Guohua (600636) closed at 9.59, up 1.37% with a trading volume of 69,500 shares [1] - Chuangye Dengdiao (300688) closed at 31.20, up 1.30% with a trading volume of 159,200 shares [1] - Notable declines included: - ST Dongshi (603377) closed at 4.07, down 4.91% with a trading volume of 21,700 shares [2] - Dou Shen Education (300010) closed at 7.81, down 3.10% with a trading volume of 1,532,200 shares [2] - Zhonggong Education (002607) closed at 2.94, down 1.34% with a trading volume of 2,539,100 shares [2] Capital Flow Analysis - The education sector experienced a net outflow of 228 million yuan from institutional investors, while retail investors saw a net inflow of 208 million yuan [2] - Key capital flows included: - Kede Education (300192) had a net inflow of 38.87 million yuan from institutional investors [3] - ST Dongshi (603377) faced a significant net outflow of 2.85 million yuan from institutional investors [3] - Chuangye Dengdiao (300688) had a net outflow of 40.44 million yuan from institutional investors [3]