27日，是杭州春假的第一天，"春假大军"不少已经陆续出发。对于春假，有些家长直呼"有心无 力"："要正常上班，孩子没人管怎么办？"今年开始，有人能帮忙托管了。 记者了解到，为解决中小学生春季看护难，上城区教育局推出"春意暖暖漫上城"行动，为有需求的 义务教育段学生提供免费春季托管服务。 "我们经过前期排摸，发现浙江元宇宙产业基地家长的暑托需求比较大，不少家长都是双职工，夏 令营就近开到企业里，上下班可以顺便接送孩子，让家长能更省心、安心，届时，不只是产业园的企业 员工，其他家长有暑托需求也可以报名。"上城区团区委志愿者工作指导中心工作人员介绍。 目前，杭州青少年活动中心已经和浙江元宇宙产业基地基本完成对接，目前进入签协议流程，下个 月全面招生，预计7月初开班。 不仅如此，对于暑期"小候鸟"之家，今年上城也有了新的探索模式，将首次把暑期夏令营搬到社 区，本次试点位于南星街道馒头山社区，让"小候鸟"们拥有一个安全、快乐、充实、丰富的暑假生活， 同样，预计7月初开班。 同时，暑假期间上城区教育局将开展"百特助力"行动，根据企业员工需求，就近部署校园暑托点 位，将百余名特级教师资源导入，开展百余项特色课程，丰富学生暑 ...

Group 1 - The collective lesson preparation meeting aims to integrate the teaching of ideological and political courses across primary, secondary, and higher education in Hainan, emphasizing the importance of the Qiongya spirit in education [3][5][6] - Over 10,000 teachers participated in the meeting through both online and offline formats, promoting a collaborative teaching and research model [3][5] - The event is part of a broader initiative to deepen the integration of ideological and political education in schools, which has been recognized at the national level [5][6] Group 2 - Teachers presented engaging lessons that connect historical events with contemporary values, demonstrating the emotional and educational impact of the Qiongya spirit [4][5] - The meeting showcased various teaching methods and approaches, highlighting the importance of adapting content for different educational stages [5] - The event is seen as a significant opportunity to instill the revolutionary spirit into the curriculum, aiming to cultivate a new generation of responsible citizens [6]

南都讯 记者梁艳燕 在人工智能深度赋能教育、新课标全面落地的背景下，语文教学正经历从"知识本 位"向"素养本位"的转型。2025年4月27日,"核心素养导向下的'单元整组'教学模式专题研讨会暨全国第 十届小学'语文整体改革'项目年会"(以下简称"会议")在广州正式启幕。会议以"大单元任务教学重构课 堂逻辑，AI技术助力全链条素养提升"为主题，吸引了教育局领导、教研员、校长及一线语文教师近400 人齐聚花城，共探语文教育创新路径。 会议以专家报告引领方向，碰撞前沿理念。特邀全国知名专家分享最新研究成果:如杨春生(深圳市福田 区教科院原副院长)解析《新课程视域下项目式学习的理念与策略》，强调跨学科任务设计对学生综合 素养的促进作用;冯琛莉(浙江省特级教师)以《生成式AI赋能小学古诗教学优化策略与实践》为题，结合 《芙蓉楼送辛渐》AI教学课例，展示技术如何深化古诗情感理解;段正山(语文整体改革课题组核心成员) 提出"双减"背景下小学习作教学应构建"实"体系，夯实学生表达根基。 此外，会议还聚焦"单元整组"教学模式，通过大单元任务设计整合识字、写字、阅读与表达环节，结合 AI技术优化教学流程，助力学生核心素养进阶。来 ...

Investment Rating - The report maintains an "Accumulate" rating for the company with a target price of RMB 5.38 [7][13]. Core Views - The company's fundamentals are improving, with expectations of turning profitable for the full year 2025, supported by steady growth in its core business and operational efficiency improvements [1][5]. - The K12 school operations are showing robust growth, while vocational education is expanding through partnerships with leading companies [2][5]. - The company has optimized its operational efficiency, leading to an upward trend in profit margins [3][5]. - The change in major shareholders, with Haiguotou becoming the largest shareholder, is expected to facilitate better decision-making and resource allocation [4][5]. Summary by Sections Financial Performance - In 2024, the company achieved revenue of RMB 320 million, a year-on-year increase of 25.92%, and a net profit loss of RMB 37 million, reducing losses by 25.66% [1][6]. - For Q1 2025, the company reported revenue of RMB 90.67 million, a year-on-year increase of 17.68%, and a net profit of RMB 468,400, marking a return to profitability [1][6]. Business Segments - Revenue from education services, training services, and housing leasing in 2024 was RMB 260 million, RMB 55 million, and RMB 5 million, respectively, with year-on-year changes of +41.86%, -16.90%, and +10.13% [2][5]. - The K12 school segment is experiencing steady growth in student enrollment, while vocational education is expanding through collaborations with major companies [2][5]. Operational Efficiency - The company has successfully reduced sales, management, and financial expenses by 18%, 4%, and 14%, respectively, leading to improved cost control [3][5]. - The gross profit margin for Q1 2025 was reported at 32%, indicating a steady increase in profitability [3][5]. Shareholder Changes - Haiguotou's acquisition of 14.84% of shares from the previous major shareholder has increased its stake to 16%, positioning it as the largest shareholder [4][5]. Profit Forecast and Valuation - The company is projected to achieve net profits of RMB 25.16 million, RMB 46.65 million, and RMB 56.32 million for the years 2025, 2026, and 2027, respectively [5][6]. - The target price of RMB 5.38 is based on a DCF valuation, with an updated WACC of 9.36% and a perpetual growth rate of 2% [5][13].

Investment Rating - The report maintains a "Recommended" rating for the company [4][7]. Core Views - The company is a leader in personalized education, focusing on services for high school entrance exams and actively developing vocational education, cultural reading, and medical education integration, leading to rapid revenue growth and performance release [1][4]. - The company is expected to achieve revenues of 3.22 billion yuan, 3.72 billion yuan, and 4.09 billion yuan for the years 2025, 2026, and 2027, respectively, with corresponding EPS of 2.11 yuan, 2.54 yuan, and 2.93 yuan, indicating strong future growth potential [4][6]. Financial Performance - In 2024, the company achieved operating revenue of 2.786 billion yuan, a year-on-year increase of 25.90%, and a net profit attributable to shareholders of 180 million yuan, up 16.84% [1][6]. - For Q1 2025, the company reported operating revenue of 864 million yuan, a 22.46% increase year-on-year, and a net profit of 74 million yuan, reflecting a significant growth of 45.45% [1][6]. - The gross profit margins for 2024 and Q1 2025 were 34.56% and 32.02%, respectively, while net profit margins were 6.33% and 8.51% [2][6]. Debt and Cash Flow - The company's asset-liability ratio has decreased from 96.24% in 2020 to 79.04% in 2024, indicating improved financial health [3][6]. - The cash collection ratio for 2024 and Q1 2025 was 108.51% and 125.68%, respectively, demonstrating strong cash flow management [3][6]. Business Expansion - The number of personalized learning centers increased from over 240 to more than 300 by the end of 2024, covering over 100 cities and employing more than 4,000 teachers, which supports the company's expansion strategy [4][6]. - The company's contract liabilities grew significantly, with figures of 932 million yuan and 1.139 billion yuan for 2024 and Q1 2025, respectively, indicating strong growth potential [4][6].

推进教育数字化，就是为了更好地通过国家搭建的平台将优质教育资源汇聚起来，任何人都能由此在互 联网上轻松获取优质教育资源，从而缩小区域教育差距，更好提升核心素养，最终实现教育公平。 党的二十大提出"加快建设数字中国"并将"教育数字化"写入报告，这为新时代新征程进一步发展教育数 字化指明了方向、提供了遵循。近日，教育部等九部门联合发布《关于加快推进教育数字化的意见》， 进一步部署了教育数字化的推进措施和重点任务，这是贯彻落实《教育强国建设规划纲要（2024-2035 年）》、推进教育数字化强力落实落地的助推器，最终就是要实现让优质教育"人人可享、处处可达"， 助力建设人人皆学、处处能学、时时可学的学习型社会，为有效应对新一轮科技革命和产业变革、加快 建设教育强国提供有力支撑。 推进教育数字化实现优质教育普及的价值意义 —————————— 加快人工智能技术发展。高校作为教育、科技、人才的"交汇点"，要勇于承担社会发展使命，主动服务 国家战略需求，加快布局建设高水平人工智能学院，真正打造集"人才培养、技术研发、产业孵化、国 际合作"于一体的人工智能教科产融合基地。同时，高校要加强与企业的合作，加快推进人工智能关键 ...

Group 1: Financial Performance - In the fourth quarter and full year of fiscal 2025, the company reported a net revenue of $2.25 billion, representing a year-on-year growth of 51% [2] - The net profit attributable to the company was $84.59 million, a significant improvement from a net loss of $3.57 million in the same period last year [2] - Under non-GAAP measures, the net profit attributable to the company was $150 million, compared to $85.32 million in the previous year [2] Group 2: AI Ecosystem Development - The company has established a comprehensive "AI + Education" ecosystem, leveraging its proprietary "Jiuzhang" model and AI technology to enhance educational services [3][4] - The launch of the "Jiuzhang" model in August 2023 marked a significant step in the company's AI strategy, enabling the development of various applications such as Jiuzhang Aixue App and Suishiwen App [3] - The "Jiuzhang Aixue" solution integrates AI applications across the entire educational process, from lesson preparation to post-class learning [4] Group 3: Product Offerings and Innovations - The company has introduced multiple AI learning devices, including the Xueersi Learning Machine, which integrates the Jiuzhang model and covers K12 subjects [6] - The upgraded Xueersi Learning Machine, set to launch in May 2024, will feature new AI functionalities such as homework mode and AI speaking practice [6] - The company is also focusing on providing AI solutions to educational institutions and schools, facilitating their digital transformation [6][7] Group 4: Industry Impact and Future Outlook - The company's AI strategy is seen as forward-looking and strategic, enhancing the quality and efficiency of educational services [7] - As AI technology continues to evolve, the company's AI business is expected to maintain rapid growth, potentially becoming a new growth engine for the company [7]

Financial Performance - In Q1 2025, the company achieved revenue of 91 million, representing a year-on-year growth of 17.68%, and net profit turned positive for the first time [2] - The company reported significant improvement in its financial performance compared to previous periods [2] Business Segments - The company's operations are divided into three main segments: K12 school operations, quality education, and vocational education [2] - K12 school operations have expanded, achieving record high admission results and continuously developing the K12 curriculum [2] - In quality education, the company leverages its resources in arts, music, and sports to offer various camp and research activities for students [2] - In vocational education, the company has established a platform through Haike Vocational Education (Beijing) Technology Co., Ltd., and has opened a branch in Shandong, collaborating with multiple institutions to create industry colleges [2] Future Plans - The company plans to seize market opportunities by expanding into new educational sectors, including partnerships to build industry colleges and focusing on digital economy and AI-related programs [3] - The company aims to enhance the variety of educational services and improve asset returns through light asset operation models to increase business scale and profitability [3]

继去年教师招聘人数减半之后，今年江西的教师招聘人数，再度跳水。 3月25日，江西省人力资源和社会保障厅官网披露： 2025年江西省中小学教师招聘人数计划2146名。 来源：江西省人力资源和社会保障厅官网 这一数据，相比于去年下降了45.8%。相比于2020年的14158人，下降了84.8%。 正在搞一个汽车号，对汽车、企业、科技感兴趣的读者，可以同步关注一下我的"飞箭财经"↓ 作者：余飞 01 教师招聘，不断缩水 制图：城市财经；数据： 江西省人力资源和社会保障厅官网 教师招聘人数下滑背后，是学生荒造成的教师队伍严重过剩。 我在江西省的官网查询了一下，江西省教师招聘人数2020年见顶，之后一路下滑，过去三年下滑速度在加快。 这一时间点正好对应着江西省的幼儿园、小学、初中在校生的人数见顶时间。 江西省统计局数据显示，幼儿园在园人数于2020年见顶，当年为170万人，去年降至114.4万人。 制图：城市财经；数据：江西省统计局 江西统计局披露的小学生数据来看，无论是招生人数，还是在校生人数，这几年一直都在减少。 | | 江西省小学招生与在校生人数 单位: 万人 | | | --- | --- | --- | | ...

Core Viewpoint - Kevin Education has shown significant improvement in its financial performance, achieving profitability in Q1 2025 after a loss in the previous year, driven by a focus on K12, quality education, and vocational training sectors [1][2]. Financial Performance - In 2024, the company reported a revenue of 320 million yuan, a year-on-year increase of 25.92% [1]. - For Q1 2025, the revenue reached 90.67 million yuan, reflecting a year-on-year growth of 17.68% [1]. - The net profit attributable to shareholders for Q1 2025 was 468,400 yuan, marking a significant turnaround with a year-on-year increase of 113.24% [2]. Business Strategy - The company leverages its state-owned background to enhance its social influence and business expansion capabilities, integrating regional educational resources effectively [3]. - As the only education-related publicly listed company under the Haidian District State-owned Assets Supervision and Administration Commission, Kevin Education is focused on both basic education services and expanding into vocational education [3]. Vocational Education Development - The vocational education team consists of industry experts and experienced teachers, providing a strong foundation for talent training and course development [4]. - The subsidiary, Haike Vocational Education, has established partnerships with leading companies like Xiaomi, Baidu, Tencent, and Huawei, facilitating resource integration for talent cultivation [4]. Operational Experience and Service Enhancement - Since entering the education sector in 2015, the company has successfully established two Kevin schools, demonstrating excellence in planning and operational management [5]. - The schools have gained high social recognition due to their outstanding graduation results and top-notch facilities, which support the expansion of vocational education and light asset educational services [5]. Focus on Quality Education - The company has invested in top-tier quality education resources, creating a comprehensive quality education system that includes arts, music, and sports [6]. - Future plans include expanding unique course offerings to reach a broader audience and tapping into the potential of quality education training [6]. - Kevin Education is actively assessing the impact of new educational policies and technological advancements on the industry, aiming to enhance its K12 operations and vocational education scale while promoting talent training for various sectors [6].