Investment Rating - The report maintains a "Buy" rating for the company [8] Core Views - The company is expected to achieve a net profit attributable to shareholders of 1.54-1.85 billion yuan in Q2 2025, representing a year-on-year growth of 38.50%-65.89%. The net profit for the first half of 2025 is projected to be 2.28-2.59 billion yuan, with a year-on-year increase of 41.14%-60.02% [2][6] - The forecasted net profits for 2025-2027 are 2.75 billion, 3.38 billion, and 4.30 billion yuan, corresponding to price-to-earnings ratios of 23, 19, and 15 times respectively [2] Summary by Sections Company Performance - The company has shown robust demand with a significant increase in enrollment numbers, contributing to revenue growth alongside price increases. The number of operational centers expanded from over 240 to more than 300, covering over 100 cities with more than 4,000 dedicated teachers [12] - The second quarter typically sees a peak in course consumption, and the increase in customer unit price has led to substantial revenue growth [12] Profitability - Improved utilization rates of teachers and classrooms, along with refined management and cost reduction strategies, have enhanced overall profitability. The repayment of loans has also reduced interest expenses, leading to significant improvements in gross and net profit margins [12] Market Position and Strategy - As a leading player in personalized education, the company benefits from a favorable market environment characterized by high demand. The strategy focuses on expanding its network to increase market share while leveraging its brand, research, and management capabilities to ensure steady business growth [12] - The company is expected to continue improving profitability through increased revenue from core operations and enhanced operational efficiency as new centers mature [12] Financial Forecast - The projected net profits for 2025-2027 are 2.75 billion, 3.38 billion, and 4.30 billion yuan, with corresponding price-to-earnings ratios of 23, 19, and 15 times, respectively [2][12]

左印国际美术教育与雅昌文化集团正式签署战略合作协议现场。 艺术产业的全维度引领者 深圳商报·读创客户端记者 赵玉 近日，在第二十一届中国（深圳）国际文化产业博览交易会雅昌艺术中心分会场，左印国际美术教育与 雅昌文化集团正式签署战略合作协议。左印国际美术教育创始人陈学燕在签约仪式上发表致辞，表示双 方将在艺术教育领域展开深度合作，共同为儿童艺术成长搭建更广阔的平台。 雅昌文化集团董事长万捷致辞 雅昌文化集团作为行业内的领军企业，1993年成立至今成绩斐然。在艺术印刷领域，雅昌堪称世界艺术 印刷的引领者，独创行业标准，斩获1070余项国际大奖。在艺术数据服务方面，构建全球最大艺术品数 据库，以前沿科技赋能艺术生态；在艺术美育方面，雅昌以雅昌艺术中心搭建了艺术普及教育与美学欣 赏平台，开展了丰富多样的艺术活动。 以专业与匠心深耕艺术教育 左印国际美术教育创始人陈学燕女士致辞 左印国际美术创立于2014年，秉持"国际化、高品质、创新发展"理念，融合西方创意美学与东方思维， 独创创意美学体系，构建了覆盖3~15岁儿童的精品美术教育与国际化艺术教学实践课程体系。经过多 年发展，左印已在全国布局近200家校区，每年服务超5 ...