三年前才易主，如今这家潮汕上市公司又将再次变更控股权。 高乐股份停牌筹划控股权变更 股价提前涨停 11月24日晚间， 高乐股份 （002348.SZ）一则停牌公告引发资本市场广泛关注。公司公告称，第一大股东华统集团正筹划转让所持股份或委托表决权，可 能导致公司控制权发生变更，股票自11月25日起停牌，预计停牌不超过2个交易日。 杨氏家族成员杨广城，目前为高乐股份第二大股东，持股比例为6.15%，同时担任公司副总经理,非独立董事 高乐股份创始人为杨镇欣，1939年出生于广东普宁，具备丰富的玩具行业生产经营的经验，为玩具行业的"骁楚人物"。他于1973年创立香港兴昌塑胶五金 厂有限公司。1986年，他率先回到流沙租厂房办厂，于1989年创建普宁市振兴制造厂有限公司，2002年改成股份制企业，更名为高乐玩具股份有限公司。 目前，高乐股份业务主要包括玩具和 互联网 教育两大业务板块。玩具业务方面，公司拥有独立自主的"GOLDLOK"品牌和涵盖研发、设计、模具制造、生 产、销售的完整产业体系，主要产品包括盲盒潮玩系列、电动火车、互动对打 机器人 等。公司的互联网教育业务，主要致力于推动教育信息化、智慧校园 的建设。 值 ...

中国基金报记者 牛思若 1 1月24日 晚 ，高乐股份 发布 公告 称 ，公司第一大股东华统集团正在筹划转让其持有的公 司股份或（及）委托表决权，可能导致公司控制权变更。 鉴于事项存在不确定性，公司股票自2025年11月25日起停牌，预计不超过2个交易日。 【导读】 高乐股份第一大股东 拟 筹划控制权变更 高乐股份在停牌前一个交易日（ 11月24日 ） ，开盘后直线涨停， 而后 股价牢牢封在涨停 板。 截至当日收盘，高乐股份报4.81元/股，涨幅为10.07%，最新市值为45.56亿元。 | 高乐股份@ | | | | | (Ai) [ Q | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 002348 L1 ▼ | | | | | | | | | 4.81 | 今开 | | 4.49 最高 | 4.81 最低 | | | 4.49 | | 1007% 044 快手 | | | 2.97% 总手 | 26.79万 金额 | | | 1.26亿 | | 总值 45.56亿 流值 43.46亿 市盈利0-292.74 | | | | | | | 重 ...

Group 1: Company Overview and Product Features - The core product, the "全课云 AI Platform," aims to break the traditional education "impossible triangle" by offering unique innovative advantages compared to similar market products [3] - The platform features a comprehensive teaching model that integrates teaching strategy, activities, assessment, and analysis, promoting continuous improvement in educational outcomes [3] - It covers multiple educational scenarios, facilitating collaboration between schools and families, and ensuring seamless educational processes [3] Group 2: Product Development and Market Readiness - The "全课云 AI Platform" is currently in the pilot phase, with initial development completed and feedback being collected from classroom applications [3] - As of November 7, 2025, the company has visited 253 schools and signed 20 pilot agreements since the pilot work began in mid-October [3] Group 3: Marketing and Promotion Strategy - The company plans to leverage its extensive service network across over 100 cities to ensure effective market penetration and operational support [4] - A multi-layered agency cooperation model will be utilized to expand the depth and breadth of marketing efforts [5] - The marketing strategy includes both online and offline initiatives to enhance brand awareness and customer engagement [5] Group 4: Financial Projections and Business Model - The pricing and profit model for the "全课云 AI Platform" will be determined after the pilot phase concludes [4] - The company anticipates that the product's promotion will significantly contribute to its performance, although specific projections are not yet available [4]

Core Insights - The article discusses the evolution of the education sector, highlighting the initial enthusiasm from major internet companies and the subsequent challenges faced as market dynamics shifted [2][3] - Tencent's approach to education is characterized by a strategic pivot towards B2B services, focusing on providing digital solutions rather than competing directly in the education content space [5][12] Group 1: Major Players in Education - Internet giants initially entered the education sector with high ambitions, leveraging their technological strengths to explore growth opportunities [4] - ByteDance adopted an aggressive strategy with significant investments and a commitment to long-term growth, while Alibaba focused on integrating education with its e-commerce ecosystem [4] - Baidu emphasized technological innovation in education, aiming to address personalized learning needs through AI and smart hardware [4] Group 2: Tencent's Unique Position - Unlike other companies that drastically cut back on their education initiatives, Tencent maintained a steady focus on the sector, demonstrating a unique resilience and strategic patience [5][6] - Tencent shifted its focus from consumer-facing products to B2B solutions, integrating its education services with Tencent Cloud to provide comprehensive digital solutions for educational institutions [7][8] Group 3: Strategic Transformation - Tencent's transformation is marked by three key shifts: moving from direct consumer engagement to serving enterprises and institutions, redefining its role from a competitor to an enabler within the education ecosystem, and transitioning from content-driven competition to a technology-driven approach [12][13][14] - The company aims to empower educational institutions by providing stable cloud services and innovative AI capabilities, rather than competing for market share [13] Group 4: Long-term Vision - Tencent's strategy reflects a long-term commitment to the education sector, recognizing that meaningful educational advancements require time and sustained effort [16] - The company’s approach is aligned with the inherent nature of the education industry, which values gradual development over rapid growth [16][17]

一个个编程指令，见证大山孩子们的成长蜕变。教育信息化为孩子们打开了通往广阔世界的大门，也丰 富了他们表达内心的方式。向开云想开发一款小游戏，让更多人了解自己的家乡。朴素的话语，道出了 教育的价值和意义。 无人机、3D打印、人工智能……越来越多高科技走进山乡课堂，让梦想与时代同频，让渴望探索的孩 子，拥抱更广阔的未来。 位于群山之间的沧源县，近百名学生获得省级以上编程比赛奖项；其中在省级大赛中崭露头角的向开 云，才上小学六年级。 《 人民日报 》（ 2025年10月30日 03 版） (责编：白宇、卫嘉) ...

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company's revenue and net profit for Q3 2025 were 6.97 million and 0.01 million respectively, showing a year-on-year growth of 11.19%, but the net profit fell significantly by 89.90% due to rapid expansion leading to upfront labor and sales costs, resulting in a decline in gross and net profit margins [2] - For the first three quarters of 2025, the company reported revenues of 26.13 million, a year-on-year increase of 16.30%, while operating cash flow was 7.62 million, reflecting a 10.35% growth, primarily driven by increased advance payments in the education training business [2] - The company is experiencing a slowdown in revenue growth due to intensified industry competition and a slight decrease in market conditions, although contract liabilities continue to grow rapidly [3] - The gross margin for Q3 2025 was 27.2%, down 5.1 percentage points year-on-year, while the net profit margin was 0.2%, down 2.1 percentage points year-on-year [3] Summary by Sections Financial Performance - The company’s revenue for 2025 is projected to be 32.01 billion, 35.67 billion, and 39.58 billion for the years 2025-2027, with corresponding net profit estimates adjusted to 2.41 billion, 3.00 billion, and 3.57 billion [4] - The earnings per share (EPS) estimates for 2025-2027 have been revised to 1.98, 2.46, and 2.93 respectively, with a price-to-earnings (PE) ratio of 21, 17, and 14 for the same period [4] Investment Recommendations - In the short term, despite increased competition and a slight downturn in market conditions, the company’s position as a leader in one-on-one training and its potential for net profit margin improvement remain intact [4] - In the medium to long term, the high-margin small class and full-time base businesses are expected to enhance overall net profit margins [4] - The report highlights potential growth in vocational education due to rising demand, alongside opportunities in educational technology and cultural spaces as long-term growth drivers [4]

Core Viewpoint - The recognition of Wang Yiran as an "Excellent Builder of Socialism with Chinese Characteristics" reflects the importance placed on private enterprises and their leaders by the Guangdong provincial government, highlighting the commitment to innovation and responsibility in business development [1] Company Development - Under Wang Yiran's leadership, the company has evolved from a small startup with fewer than 100 employees to a leading enterprise in the liquid crystal display control board and interactive smart panel industry over the past 20 years [1] - The company has integrated a spirit of patriotism, dedication, innovation, law-abiding, integrity, and contribution into its corporate culture, emphasizing the alignment of business growth with national development [1] Technological Innovation - The company has established a comprehensive R&D system covering cutting-edge fields such as visual computing, artificial intelligence, and the Internet of Things, with an annual R&D expenditure ratio of approximately 7% [2] - As of the end of 2024, the company is expected to hold over 11,000 authorized patents and has assembled a team of over a hundred professional doctors and senior experts [2] Product Development - The development of the "full-area pressure touchpad technology" significantly enhances the user experience of mechanical touchpads in most Windows laptops, positioning the company as a leader in the computing device sector [4] - The company has launched its self-developed "Seewo Teaching Model," which aims to share educational resources through AI, with 19 key application demonstration areas established across 3,000 schools by June 2023 [6] Market Expansion - In the first half of this year, the company's MAXHUB overseas brand revenue grew nearly 60% year-on-year, with products reaching over 140 countries and regions, attributed to a "localization + scenario-based" dual strategy [7] - The company has formed ecological partnerships with international firms like Microsoft and Zoom to align technology standards with local needs, enhancing its global market presence [7] Social Responsibility - The company has trained 1,676 "Xingtan Mentors" through the Xingtan Program, impacting over 200,000 teachers to improve their digital application capabilities [8] - The company is committed to fulfilling its social responsibilities in areas such as stable employment, green development, and public welfare [8]

Core Viewpoint - The integration of third-party login features in smart campus systems significantly enhances user experience by simplifying the login process for students and teachers, allowing them to use familiar social media accounts for access [1][4][15] Group 1: User Experience Improvement - Students and teachers no longer need to remember multiple usernames and passwords, as they can log in with a single click using their social media accounts [3][4] - The convenience of third-party login is particularly beneficial on mobile devices, making it easier for users to access necessary systems and services [3][12] - The integration of popular social platforms like WeChat, QQ, and DingTalk streamlines the login process and improves overall user satisfaction [4][6][12] Group 2: Security and Management - Concerns regarding account security are addressed by the robust security mechanisms of major social platforms and the use of standard authorization protocols in smart campus systems [8][10] - Users can manage their authorized applications easily, allowing them to revoke access to services they no longer use, ensuring transparency and control over their information [10][12] - The reduction in password-related issues decreases the complexity of account management for schools, leading to improved system efficiency [8][12] Group 3: Educational Resource Accessibility - The third-party login feature allows for seamless access to educational resources and services, enabling learning and administrative tasks to be performed anytime and anywhere [12][15] - This enhancement not only improves user experience but also provides schools with better service delivery methods [12][15]

Core Viewpoint - The three major stock indices opened lower on September 26, with the Shanghai Composite Index down by 0.35%, the Shenzhen Component Index down by 0.38%, and the ChiNext Index down by 0.42% [1] Industry Summary - The education informatization, CPO, and fiberglass sectors experienced the largest declines in the market [1]

Core Viewpoint - The article emphasizes the necessity for higher education English teachers to enhance their professional competencies in the context of educational informationization, driven by advancements in information technology such as cloud computing, artificial intelligence, and big data. Group 1: Professional Competencies Required for English Teachers - Information Technology Application Ability: Teachers must not only use basic IT tools but also integrate various digital resources into the teaching process to enhance educational outcomes [1][2] - Information Technology Teaching Design and Implementation Ability: Teachers should design high-quality teaching activities that connect technology with educational goals, utilizing tools like micro-videos and online collaboration platforms to improve classroom interaction [2][3] - Educational Data Analysis and Evaluation Ability: Teachers need to analyze educational data to assess learning progress and individual student needs, enabling more tailored teaching strategies [3][4] - Cross-Cultural Communication and Digital Interaction Ability: Teachers must guide students in cross-cultural communication, understanding cultural nuances, and using digital media effectively [4][5] - Continuous Learning and Innovative Development Awareness: Teachers should adopt a mindset of lifelong learning and innovation to keep pace with rapidly evolving technologies [5][6] Group 2: Development Pathways for English Teachers - Establishing a Multi-Layered Information Technology Training System: A systematic training framework is essential to help teachers master IT skills and move beyond basic applications to more integrated uses [6][7] - Building a Professional Development Learning Community: Creating a collaborative environment for teachers to share experiences and resources can enhance professional growth [7] - Promoting Deep Integration of Information Technology and English Teaching: Classrooms should serve as practice grounds for integrating technology into teaching processes, enhancing the quality of education [6][7] - Strengthening School-Enterprise Cooperation and Industry-Academia Integration: Collaborations with enterprises can provide teachers with access to cutting-edge resources and practical training opportunities [6][7] - Improving Teacher Professional Development Evaluation and Incentive Mechanisms: A revised evaluation system should focus on the effectiveness and innovation of technology use in teaching, alongside traditional metrics [7]