展望未来，此举开启想象空间的同时也带来管理课题。集团需有效整合海外技术资源，并应对数字货币 市场波动对收益的潜在影响。投资者可关注后续财报中技术落地与收益使用的具体披露，以验证这一模 式的长期价值。 中国春来教育集团(01969)在科技与教育融合的探索上再进一步。集团最新公告显示，其主席侯春来先 生将透过捐赠方式，向集团免费提供其美国数据中心开发的AI与区块链技术使用权，并将该数据中心 所产生的全部利润捐予集团。这一"技术+收益"的双重捐赠模式，为核心教育主业配备科技与财务"双引 擎"。 此项安排为集团业务的深度融合开辟了清晰路径。在技术层面，捐赠的AI算力与区块链技术将直接赋 能于集团正在推进的AI教育战略,包括部署DeepSeek R1模型的教育平台，助力开发虚拟课堂、个性化学 习系统等创新应用。在财务层面，数据中心带来的利润将为集团提供稳定的额外资金，可定向用于智慧 校园升级、AI课程研发等长期项目，从而构建起"技术提升教育体验，收益反哺研发创新"的良性发展闭 环。 ...

此项安排为集团业务的深度融合开辟了清晰路径。在技术层面，捐赠的AI算力与区块链技术将直接赋 能于集团正在推进的AI教育战略,包括部署DeepSeek R1模型的教育平台，助力开发虚拟课堂、个性化学 习系统等创新应用。在财务层面，数据中心带来的利润将为集团提供稳定的额外资金，可定向用于智慧 校园升级、AI课程研发等长期项目，从而构建起"技术提升教育体验，收益反哺研发创新"的良性发展闭 环。 智通财经APP获悉，中国春来教育集团(01969)在科技与教育融合的探索上再进一步。集团最新公告显 示，其主席侯春来先生将透过捐赠方式，向集团免费提供其美国数据中心开发的AI与区块链技术使用 权，并将该数据中心所产生的全部利润捐予集团。这一"技术+收益"的双重捐赠模式，为核心教育主业 配备科技与财务"双引擎"。 展望未来，此举开启想象空间的同时也带来管理课题。集团需有效整合海外技术资源，并应对数字货币 市场波动对收益的潜在影响。投资者可关注后续财报中技术落地与收益使用的具体披露，以验证这一模 式的长期价值。 ...

Core Viewpoint - The Chinese AI agent industry has established a "SaaS-MaaS-RaaS" tripartite business model, driven by technology, policy, and ecosystem factors, accelerating the commercialization of a trillion-level market through regional differentiated competition [1]. Business Model Summary - The AI agent industry in China can be categorized into three main models based on service form, deployment method, and application scenario: - **SaaS Model**: Dominates the market with a 30% share, driven by the demand for standardized intelligent tools. It operates on a subscription basis, focusing on efficiency improvement through basic subscription fees and value-added services [3][12]. - **MaaS Model**: Fastest growth at 15%, reflecting the acceleration of model-as-a-service commercialization. It relies on computational power and model innovation for customer acquisition, with significant cost advantages, such as SenseTime's model inference cost being 60% lower than the industry average [3][8]. - **RaaS Model**: Accounts for 12% of the market, focusing on human-machine collaborative automation in sectors like manufacturing and finance, with notable improvements in operational efficiency [3][8]. Market Dynamics - The AI agent industry is experiencing a competitive race among innovation parks, with Shanghai's Xuhui District housing over 1,000 companies and offering substantial computational subsidies. SenseTime's generative AI revenue reached 2.4 billion yuan in 2024, constituting 63.7% of its total revenue [4]. - The industry is supported by policy initiatives, such as the Ministry of Industry and Information Technology promoting "AI + manufacturing" actions and various cities providing computational vouchers and project subsidies to foster ecosystem development [7][8]. Financial Metrics - **SaaS Model**: Average gross margin of 60%-80%, customer retention rate of 75%-90%, and annual customer spending between 50,000 to 500,000 yuan [11][12]. - **MaaS Model**: Average gross margin of 40%-60%, customer retention rate of 60%-75%, and annual customer spending between 100,000 to 2 million yuan [11][12]. - **RaaS Model**: Average gross margin of 30%-50%, customer retention rate of 50%-65%, and annual customer spending between 200,000 to 1 million yuan [11][12].