粉笔(02469)涨超6%，截至发稿，涨6.21%，报3.42港元，成交额1.64亿港元。 消息面上，粉笔近日宣布粉笔事考AI刷题系统班即将重磅上线。据悉，课程上线发布会将在8月25日举 行。信达证券（601059）此前研报指出，粉笔25年4月基于自研AI垂类模型推出AI刷题系统班，定价为 399元人民币，截至6月末，销售约5万人次，收款约2000万元。该行认为，AI刷题系统班销售数据表现 优异，且吸引大量之前未付费的用户，说明提升付费转化初具效果，随着其他科目陆续推出AI大班 课，公司有望凭借AI应用实现非线性增长。 ...

本文源自：智通财经网 智通财经获悉，周一，尚德机构(STG.US)涨近12%，报10.824美元。消息面上，近日，尚德机构公布了 2025年第二季度及上半年未经审计的财务数据。财报显示，该公司上半年实现营收10.27亿元，净利润 2.02亿元。其中，第二季度营收达5.39亿元，同比增长9.5%；净利润1.27亿元，同比增长54%，净利率 由去年同期的16.7%提升至23.5%。 ...

智通财经APP获悉，周一，多邻国(DUOL.US)股价走高，截至发稿，该股涨近10%，报359.01美元。花 旗首予该股"买入"评级，目标价400美元。KeyBanc也将该股票评级上调至"增持"。 ...

Core Viewpoint - Sangfor Technologies (STG.US) experienced a nearly 12% increase in stock price, reaching $10.824, following the release of its unaudited financial data for Q2 and the first half of 2025 [1] Financial Performance - The company reported a revenue of 1.027 billion yuan for the first half of the year, with a net profit of 202 million yuan [1] - In Q2, revenue reached 539 million yuan, representing a year-on-year growth of 9.5% [1] - The net profit for Q2 was 127 million yuan, showing a significant year-on-year increase of 54% [1] - The net profit margin improved from 16.7% in the same period last year to 23.5% [1]

财务数据显示，截至2025年06月30日，尚德机构收入总额10.27亿人民币，同比增长1.1%；归母净利润 2.02亿人民币，同比增长3.5%。 2018年3月23日,尚德机构成功登陆美国纽交所,成为国内首家赴美上市的成人在线教育机构,股票代 码"STG"。目前,尚德机构的培训内容涉及学历教育培训,职业资格证书培训以及国际教育。 本文源自：金融界 大事提醒： 8月14日，尚德机构2025财年中报归属股东应占溢利2.018亿人民币，同比增长3.5%，基本每股收益 29.87人民币。 资料显示，尚德科技集团("尚德机构")于2014年6月6日起,从线下培训模式全面转型为互联网教育模式,建 立起国内领先的成人教育在线直播平台。截至目前,尚德机构已累计服务全国百余万学员。凭借先进的 技术优势、不断创新的教学产品、领先的互联网教育运营理念以及"大班直播课+班主任"的模式优势,尚 德机构正朝着成为"中国新锐互联网大学"的目标大步迈进。 8月18日，尚德机构(STG)盘中上涨10.55%，截至21:36，报10.69美元/股，成交1.74万美元，总市值1.44 亿美元。 作者：行情君 ...

Core Viewpoint - CICC maintains a "outperform industry" rating for NetEase Youdao, setting a target price of $13, highlighting the company's strong performance in Q2 2025 with both revenue and profit exceeding expectations due to accelerated AI commercialization and effective business structure optimization [1] Financial Performance - In Q2 2025, Youdao's net revenue reached 1.42 billion yuan, representing a year-on-year growth of 7.2%, surpassing market expectations [1] - The Non-GAAP net profit attributable to the parent company was 12.52 million yuan [1] - Operating profit recorded was 28.8 million yuan, an increase of 7.5 percentage points year-on-year, marking the first time the company achieved profitability in the same period [1]

想象一个课堂：讲台上是永不疲倦的AI讲师，台下是专注于启发和引导的人类导师。本期播客，听听他们关于AI如何重塑教育、老师角色以及适应力为 何是新一代职业保障的深刻洞见。 本期OpenAI播客，受访小姐姐Yabi来自USC，男生就读于加州大学伯克利分校EECS。 Yabi第一次用ChatGPT，是一个很搞笑的场景。 当时，她给它的第一个指令是让它写一篇同人小说（fan fiction）。 对她来说，那个「顿悟时刻」在于，意识到AI不仅仅可以用于教育或研究，更可以用于处理日常的琐事。 教授如何适应AI？ 学习模式最厉害的一点是，它不会假设你听完一遍就记住了。 可能过了几分钟，它会回过头来给你一个小测验：「嘿，来检查一下，你还记得这个概念吗？」 然后你需要再次回答。这才是我们大脑中真正形成神经连接、记住这些概念的方式。 受访者会让它扮演一个顶级公司的顾问，告诉他如何处理某个问题；或者让它扮演一个研究这个领域的、极具创意的教授，为我提出独特的解决方案。 将ChatGPT置于一个特定的角色、视角和专业人士的身份中，会激发它表现得更好。 就作业和课程内容而言，现在正处于一个过渡期。这感觉很像小时候，从用手算除法，过渡到使 ...

文 | 电商在线 晚上11点55分，刚准备入睡的打工人紧急掏出手机，手指在屏幕上滑动戳点，嘴里还念念有词。 他不是在峡谷激战，也不是刷短视频上瘾，而是怕被一只绿色猫头鹰追杀——毕竟，只要有一天不登陆 APP学习，这只名叫"Duo（多儿）"的绿色猫头鹰就会开始大变身，还会向你发来催促的短信："每次你 漏学，我都心痛到无法呼吸！" 当传统语言培训机构还在为高昂学费和枯燥课程绞尽脑汁时，这只2011年起家于卡内基梅隆大学校园的 绿色猫头鹰，靠着把背单词、学语法和练听力变"通关"游戏的魔法，悄无声息地攻占了全球用户的手机 屏幕和碎片时间，用游戏上瘾的逻辑，横扫了整个语言学习江湖。 被多邻国硬控的5亿用户不是在上课，而是在闯关、赚宝石、冲击好友排行榜，用自己的学习时间和成 就解锁一个又一个多儿的抽象表情包和动态图，更有甚者直接在社交平台发出疑问：多邻国到底有啥魔 力，能让我不爱学习的男友/刚做完手术的妈妈/熬夜加班的朋友，为了一个"连胜"记录挑灯夜战，奋发 图强？ 这只绿色猫头鹰一边把学习变成游戏，一边靠玩"抽象"，蹭着各种热门内容，从登上时尚盛典，到亲自 宣布自己的"死讯"，再到最近和瑞幸小鹿官宣"结婚"……每一个话 ...

Group 1 - The core viewpoint of the article highlights the performance and market position of Dongfang Zhenxuan, a leading player in the online extracurricular education sector in China, which has expanded its business into various areas including live commerce and vocational education [1][2]. - As of the latest financial report, Dongfang Zhenxuan reported a total revenue of 2.187 billion yuan and a net loss of 96.799 million yuan for the first half of 2024 [2]. - The company's stock price increased by 2.47% to 42.26 yuan per share, with a trading volume of 1.165 billion yuan as of August 18 [1]. Group 2 - Dongfang Zhenxuan is set to disclose its annual report for the fiscal year 2024 on August 22 [3].

Group 1: NetEase (NTES US) - The gaming improvement trend for the second half of the year is clear, with new games expected in 2026, leading to a target price increase from $143 to $155, reflecting a potential upside of 19.5% [3] - Q2 2025 results were in line with expectations, with gaming revenue slightly below market expectations but gross margin improvement exceeding expectations [3] - Strong performance of flagship games in July and August indicates a robust recovery in mobile gaming, with a strong year-on-year growth expected in the second half of the year [3] Group 2: NetEase Cloud Music (9899 HK) - The company reported better-than-expected profits for the first half of 2025, leading to a target price increase from HKD 240 to HKD 339, indicating a potential upside of 25.5% [4] - Revenue for the first half of 2025 was HKD 3.83 billion, a year-on-year decline of 6%, primarily due to a decrease in social entertainment revenue, while subscription revenue grew by 15% [4] - Adjusted net profit for the first half was HKD 1.1 billion, exceeding market expectations [4] Group 3: JD Logistics (2618 HK) - The company is experiencing accelerated growth in external integration revenue due to prior investments, with a target price of HKD 18.50, indicating a potential upside of 32.5% [6] - Q2 2025 results met expectations, with revenue driven by the group's food delivery service and profits aligning with forecasts [6] - The company expects continued growth trends in the second half of the year [8] Group 4: JD (JD US) - The company faced higher-than-expected losses in new businesses, but retail revenue and profits are expected to grow by approximately 10% year-on-year in Q3 2025 [9] - The target price remains at $40, reflecting a potential upside of 26.7%, with a focus on improving cross-selling efficiency between food delivery and retail [9] - The company anticipates a narrowing of losses in new businesses by Q4 2025 [9] Group 5: Youdao (DAO US) - The company turned profitable in Q2 2025, focusing on AI and high school education, with a target price of $12, indicating a potential upside of 23% [10] - Revenue growth is supported by strong demand in AI-enhanced high school products and advertising business [10] - The company expects a decline in learning services and hardware revenue but a significant increase in advertising revenue [10] Group 6: Geely Automobile (175 HK) - The company reported a 27% year-on-year revenue increase to RMB 150.3 billion in the first half of 2025, with a net profit growth of 102% to RMB 6.66 billion, exceeding market expectations [11] - The target price is raised to HKD 24.21, indicating a potential upside of 27.8%, driven by improved brand integration and sales growth [11] - The company is expected to benefit from industry trends that reduce price competition, focusing more on configuration and driving experience [11] Group 7: Hesai Group (HSAI US) - The company continues to see high growth in shipments, with a target price of $27.52, indicating a potential upside of 18% [12] - Q2 2025 revenue reached RMB 706 million, with a gross margin of 42.5% [13] - The company expects to achieve a total shipment of 1.4 million units in 2025, with significant growth in ADAS and robotics products [12][13] Group 8: QFIN Technology (QFIN US) - The company achieved a net profit of RMB 1.73 billion in Q2 2025, a year-on-year increase of 25.7%, with a target price of $58, indicating a potential upside of 74.2% [14] - The company is focusing on improving asset quality and enhancing risk control measures [15] - Despite short-term uncertainties from new regulations, the company maintains a strong competitive advantage and attractive valuation [15] Group 9: SF REIT (2191 HK) - The company reported a 1.2% year-on-year revenue increase to HKD 225 million in the first half of 2025, with a target price of HKD 3.84, indicating a potential upside of 25.5% [16] - The overall occupancy rate was 97.5% as of June 2025, with expectations for moderate revenue growth in 2025 [17] - The company anticipates potential rental pressure in 2026 following lease renewals with SF Holdings [17] Group 10: Pharmaceutical Industry - The pharmaceutical sector is expected to see steady growth driven by multiple favorable factors in the second half of 2025, with a focus on high-growth opportunities in biotechnology and prescription drugs [18] Group 11: Internet Industry - E-commerce revenue growth in July 2025 exceeded expectations, with a year-on-year increase of 8.3%, driven by strong performance in communication equipment and home appliances [19] - The industry is benefiting from regulatory measures that promote healthy development and reduce aggressive subsidy strategies [19] - Investment insights suggest that Alibaba's revenue adjustments may offset the impact of flash sales subsidies, while JD's new business investments are expected to stabilize overall profit margins [19]