Core Insights - The article discusses the transformation of TAL Education Group (好未来) in response to the "double reduction" policy, highlighting its strategic shift towards "AI + education hardware" and offline franchise expansion as a means to achieve profitability by fiscal year 2025 [1][9]. Group 1: Business Transformation - TAL Education has shifted from traditional subject training to an "AI + hardware" ecosystem, with smart hardware becoming a key growth driver [1][3]. - By fiscal year 2025, the revenue from content solutions has increased to 29.4% of total revenue, with sales of learning machines growing by 88% year-on-year, reaching 356,000 units [3]. - The integration of the self-developed MathGPT model into hardware has enabled differentiated features, achieving an 80% active user rate and an average daily usage time of one hour [3]. Group 2: Financial Performance - Despite achieving a net profit of $84.59 million for the fiscal year 2025, the company reported a quarterly loss of $7.31 million in Q4, raising concerns about its long-term profitability [9]. - The sales expenses for the hardware business increased by 73% year-on-year to $218 million in Q4 2025, indicating high R&D and marketing costs [3][9]. Group 3: Market Strategy - TAL Education is targeting the mid-range market by lowering prices, with the learning machine series priced at 2,699 yuan, capturing over 50% of online sales in this segment by Q1 2025 [6][8]. - The company has expanded its offline learning centers to 450, a 50% increase year-on-year, with 70% of new centers located in lower-tier cities [8]. Group 4: Competitive Landscape - The main competitor in the smart hardware market is Zuoyebang (作业帮), and TAL Education is focusing on penetrating the mid-range market to challenge its dominance [5][8]. - TAL Education has launched the "Jiuzhang Aixue" smart education brand, leveraging its technological advantages, particularly in mathematics [4]. Group 5: Challenges and Risks - The company faces challenges from high operational costs and increasing competition in the quality education market, necessitating innovation in content and service quality for long-term growth [3][11]. - Regulatory risks are heightened due to stricter education policies, impacting course design and hardware functionality [11].

每经记者｜彭斐 每经编辑｜文多 关键指标虽在2024年转正，但*ST开元（即开元教育，SZ300338，股价4.30元，市值17.31亿元）退市危 机，仍不可彻底放心。 5月21日盘后，*ST开元公告披露，公司已向深交所提交撤销对公司股票交易实施退市风险警示的申 请，目前正处在补充材料阶段，能否获得深交所批准尚存在不确定性。 《每日经济新闻》记者以投资者身份于5月21日下午致电*ST开元证券部门，相关工作人员表示，需要 补充的材料非财务类，此次申请主要是申请撤销退市风险警示，通过后公司股票简称仍将带有"ST"。 撤销退市风险警示还需补材料 披露2024年财报的当天（4月28日），*ST开元已被实行退市风险警示和其他风险警示一年。公司披 露，已经向深交所提交了撤销退市风险警示的申请。 公告显示，*ST开元2023年度经审计的期末净资产为负值，触及深交所股票上市规则第10.3.1条第一款 第二项规定的"最近一个会计年度经审计的期末净资产为负值"情形，公司股票于2024年5月6日开市起被 实施退市风险警示。 *ST开元2024年度财务报告经中审亚太会计师事务所（特殊普通合伙）审计，并出具了带持续经营重大 不确定性段 ...

Core Viewpoint - Dou Shen Education has shown significant growth in net profit and is actively integrating AI technology into its educational offerings, despite facing regulatory scrutiny from the China Securities Regulatory Commission. Financial Performance - For the fiscal year 2024, Dou Shen Education reported a net profit attributable to shareholders of 137 million yuan, representing a year-on-year increase of 334.04% [2] - The company's non-GAAP net profit reached 100 million yuan, marking a year-on-year growth of 119.86% [2] AI Education Capabilities - Dou Shen Education emphasizes its core advantages in AI education through self-developed intelligent products and a strong corpus of educational resources [3] - The company has established a dedicated AI team that has made advancements in knowledge graph construction and targeted algorithm development [3] - An intelligent teaching engine based on domestic large model technology has been developed, significantly enhancing course production efficiency and teaching quality [3] Regulatory Issues - On December 20, 2024, Dou Shen Education received a notice from the China Securities Regulatory Commission regarding an investigation for suspected violations of information disclosure laws [4] - Investors who suffered losses due to the company's alleged misconduct may be eligible for compensation if they purchased shares between the company's listing and December 20, 2024 [4] Intellectual Property and Market Engagement - Dou Shen Education has participated in 23 bidding projects and holds 112 trademark registrations [5]

据相关负责人介绍，继 2024 年首期项目向全国 100 所小学捐赠微型博物馆后，二期项目全面升级，在延续资源支持的基础上，升级构建 "硬件支持+师资培 养+成果孵化" 的科学教育生态链，致力于将博物馆资源转化为乡村学校的常态化科学教育力量。 学而思方面指出，自 "给孩子 100 座博物馆" 公益项目在去年博物馆日启动以来，学而思已向全国偏远山区、中西部地区的近百所学校捐赠了"微型博物 馆"。值得一提的是，许多学校的学生主动成为"小小申领员"，为自己的学校争取到了优质的博物资源。 "微型博物馆" 是一组体系化的教具盒子，每个盒子对应自然、科技、文史等专属主题，内含藏品及配套课程，孩子们可以零距离接触到来自亿万年前的化 石、丰富珍贵的自然标本、炫酷的科学装置和博古通今的历史器物，极大地激发了他们的好奇心。 在该公益项目的推动下，一些乡村学校的科学教育有了新抓手、新亮点。河南省嵩县鹤鸣小学党支部书记程小飞老师，全程主导 "微型博物馆" 的申请、布 展及科技节组织等工作，并且主动担任博物讲解员。 他结合河南洛阳 "十三朝古都" 的地域文化，以收到的 "古代铜车马模型" 为例，向孩子们讲解古代车马制度：洛阳 "天子驾 ...

消息面上，中共中央、国务院发布关于弘扬教育家精神加强新时代高素质专业化教师队伍建设的意见， 提出到2035年数字化赋能教师发展成为常态。 政策利好频出 教育板块的反弹仍在持续。 8月28日，中公教育涨停，豆神教育、*ST开元涨超4%，昂立教育、科德教育涨超2%，全通教育、创业 黑马、行动教育等跟涨。 | 代码 | 名称 | 涨幅� | 涨跌 | 现价 | | --- | --- | --- | --- | --- | | 002607 中公教育 | | +10.30% | +0.17 | 1.82 | | 300010 | 豆神教育 | +4.45% | +0.11 | 2.58 | | 300338 | *ST 7 | +4.09% | +0.07 | 1.78 | | 600661 | 昂立教育 | +2.95% | +0.31 | 10.81 | | 300192 科德教育 | | +2.18% | +0.23 | 10.76 | | 200880 | 博瑞传播 | +2.03% | +0.07 | 3.52 | | 300688 | 创不苦过 | +1.96% | +0.43 | 22.33 | | ...

筑牢预付式消费权益保障的"防火墙"。首先，应持续完善法律法规，明确监管主体和职责，并加强合同 条款的监管。《最高人民法院关于审理预付式消费民事纠纷案件适用法律若干问题的解释》已于5月1日 正式施行，直击"卷款跑路""霸王条款""收款不退""举证难"等侵犯消费者合法权益的痛点堵点，通过法 治手段划定消费者权益保护的红线，筑牢消费者权益保护屏障。其次，应加大监管与执法力度，建立预 付式消费监管平台，运用大数据、云计算等技术手段，实时监控商家经营状况。对违规商家进行严厉处 罚，并公开曝光典型案例，借助"信用监管+"模式，将履约情况与企业征信紧密挂钩，倒逼企业规范经 营。 近年来，预付式消费在健身、教育培训、美容美发等多个领域盛行。这种先付费后享受服务的消费方 式，虽为消费者带来优惠和便利，但也潜藏不少风险。比如，服务缩水、退费难、商家跑路等问题频 发。这些乱象正不断透支着公众信任，不仅侵害消费者合法权益，也影响预付式消费市场的健康发展。 （文章来源：经济日报） 构建健康的市场生态离不开全社会的共同努力。行业协会应建立健全黑名单共享机制。平台机构需定期 发布商家信用评级，为消费者提供理性选择的依据。引入第三方保障机制 ...

据介绍，星河华商书院广州分院为广州地区乃至全国的企业家们提供一个提升国学素养、增强商业智慧 的优质平台，以国学商道为桥梁，将博大精深的中华传统文化传播至世界各地。通过商业活动与文化交 流的有机结合，推动国学智慧在全球范围内的认知与应用，助力中华优秀传统文化出海，促进不同文化 间的相互理解与交融。 剪彩仪式在众人的期待中隆重举行，嘉宾共同上台，手持金剪，为星河华商书院广州分院剪出一条充满 希望与无限可能的发展之路，标志着分院正式扬帆起航。在圆桌对话环节，围绕《中华传统文化与现代 商业的融合》这一主题，嘉宾各抒己见，展开了一场精彩纷呈、思想碰撞的深度探讨。活动临近尾声， 国家二级茶艺师董子昕带来了一场美轮美奂的茶艺展示，让嘉宾们在悠悠茶香中沉浸式感受国学的独特 魅力，为本次揭幕仪式画上了圆满而精彩的句号。 南都讯 记者叶斯茗 日前，星河华商书院广州分院在楠花文化艺术空间盛大举行揭幕仪式。众多商界翘 楚、国学志士齐聚一堂，共同见证这一承载着深厚历史使命与崭新发展愿景的重要时刻，正式开启国学 商道融合及文化出海的崭新篇章。 活动上，星河华商书院广州分院院长葛莹详细阐述了这次广州分院重启的始末。她强调，书院通过19年 ...

近年来,国家鼓励非师范生报考教师资格证,并逐步消除对非师范生的限制。通过教师资格证考试后,非师 范生可以应聘公办或民办学校及机构,从事幼儿、小学、中学等不同层次的教育工作。在追求教师职业 梦想的道路上,非师范生同样能够凭借努力与正确的方法,成功跨越教师资格证考试的门槛。欧思教育以 专业的培训体系和贴心的服务,为非师范生们点亮了一盏明灯,指引他们高效备考,助力非师范生顺利拿到 教师资格证。 在准备笔试阶段,需要选对科目,确定报考学段。首先,非师范生需要明确自己想要报考的是小学、初中还 是高中的教资。小学教资笔试仅考两门,而初中和高中则需多考一门学科知识。选择时,可结合自己的兴 趣与擅长领域,如数学、语文等,以提升备考效率。进一步地再去了解考试内容,如科目一考综合素质,多考 查教师职业素养;科目二考知识与能力,多考查教育学、心理学、教育心理的学识,因此,对非师范生的难 度较大。非师范生需特别注意科目二,需投入更多精力。 在准备面试时,需要熟悉面试流程,掌握结构化与试讲技巧,了解常见的面试问题类型,如教育教学理念、班 级管理策略等,提前准备答案模板,展现自己的综合素质。在试讲环节,这是面试的核心部分。非师范生需 通 ...

科德教育（300192.SZ）深度报告 油墨龙头战略转型，AI+教育值得期待 2025 年 05 月 14 日 ➢ 油墨+教育双主业发展，投资收益增强弹性。科德教育原名是科斯伍德，主要 从事胶印油墨和 UV 油墨研发、生产和销售等业务，旗下的"东吴牌"和"Kingswood" 品牌的油墨销量处于行业较高地位。受油墨化工行业发展空间影响，公司战略转型教 育服务行业，通过外延并购将龙门教育、西安培英、天津旅外和毛坦中学等纳入旗下， 快速抢占中高考复读、营利性高中和中职教育等市场，形成了油墨化工和教育服务双 主业发展态势。同时，公司积极寻找投资机会，战略投资中国自研推理和训练芯片公 司——中昊芯英，为布局 AI+教育提供了有利条件。受益于双主业发展和投资收益， 公司营业收入稳步增长，盈利能力显著提升，投资收益增强弹性，业绩快速释放。 ➢ "双减"加速供给出清，AI+教育龙头受益。2021 年 7 月"双减"政策来袭， 校外培训受到严重影响和冲击，教培公司采取收缩、转型和退出等策略，教培行业供 给出清。根据教育部数据，截至 2022 年 2 月末，线下教培机构减少 92.14%，线上 教培机构减少 87.07%。受益 ...

Group 1: Economic Growth and Financial Support - The financial total is expected to maintain reasonable growth following the introduction of a package of incremental policies in May, which will solidify the foundation for the continuous recovery of the domestic economy [1] - Despite increased external uncertainties since April, the domestic economy shows strong resilience, with social financing scale growth accelerating and RMB loan balance increasing by 7.2% year-on-year [1][2] - The foreign trade growth trend continues, with the total value of goods trade in the first four months increasing by 2.4% year-on-year in RMB terms and 1.3% in USD terms, indicating a recovery in export resilience [1] Group 2: Credit Structure Improvement - From January to April, RMB loans increased by 1.006 trillion yuan, with the balance of inclusive small and micro loans reaching 34.31 trillion yuan, growing by 11.9% year-on-year, and medium to long-term loans for manufacturing at 14.71 trillion yuan, growing by 8.5% [2] - The evolution of credit structure reflects economic structural changes, with a notable shift in loan distribution towards real enterprises, as corporate loans increased from 63% to approximately 68% of total loans from 2021 to present [3] - The proportion of loans to small and micro enterprises rose from 31% to about 38%, while loans to large and medium enterprises decreased from 69% to about 62%, indicating a significant impact from inclusive small and micro loan initiatives [3] Group 3: Industry Focus and Policy Direction - Financial institutions have increasingly directed credit resources towards manufacturing and technological innovation, with the proportion of manufacturing loans in total medium to long-term loans rising from 5.1% to approximately 9.3% since 2021 [4] - The focus of macroeconomic policy is shifting towards promoting consumption, with financial policies aimed at supporting high-quality consumer goods supply, while addressing employment, income, and social security issues to enhance consumer willingness and capacity [4][5] - The development of consumer finance aims to expand effective consumer demand and ensure that consumer loans are genuinely used to support consumption, emphasizing a principle of reasonable moderation [5] Group 4: Monetary Policy and Future Outlook - The central bank and other departments released a package of policy measures on May 7, including interest rate cuts and structural tool optimizations, to create a favorable monetary environment for economic recovery [6] - The central bank's recent monetary policy practices have focused on a combination of different policy tools to enhance effectiveness, benefiting various market participants and boosting market expectations and investment confidence [6][7] - Recent structural policy adjustments by the central bank are aligned with the macroeconomic strategy of tapping economic potential and promoting consumption, indicating a clear focus on technology and consumption as key support areas [7]