事件： 2026 年1 月27 日，华图山鼎发布2025 年度业绩预告。公司预计2025 年度实现归属于上市公司股 东的净利润为2.8-4.2 亿元，同比2024 年的5,299.21 万元增长428.4%-692.6%；预计扣除非经常性损益后 的净利润为2.58 -3.87 亿元，同比2024 年的2,444.64 万元增长955.4%-1483.1%。 "直通车"大单品驱动，运营改革与技术升级成效显著：公司业绩大幅增长主要受益于：1）招录类考试 培训行业市场需求持续旺盛；2）通过区域运营改革，将产品交付下沉至地市，建立"轻型基地"，并聚 焦"考编直通车"大单品，锁定长周期生源，优化流程提升运营效率；3）加大前沿技术应用，实现招 生、排课、研发等环节的智能化升级，推出智能面试、申论批改等产品，在保障教学质量的同时有效降 低了单位交付成本，共同推动盈利能力显著提升。 盈利预测与投资评级：作为深耕公考培训20 年的职业教育龙头，华图教育以线下面授为主要形式，提 供培训课程产品和全流程咨询服务。员工持股完成、经营理顺后有望进一步释放利润，"直通车"大单品 驱动成长。维持2025-2027 年归母净利润分别为3.7 ...

Core Insights - The initiative to integrate human resources services with the manufacturing industry is a significant measure to promote high-quality employment and modern industrial systems [1][2] - The pilot program will be conducted in approximately 30 cities, focusing on developing specialized human resources service institutions for the manufacturing sector [2][3] Group 1: Pilot Program Objectives - The pilot aims to explore new pathways for industrial upgrading and employment promotion, fostering a collaborative development model between modern industrial systems and high-quality employment [1][2] - The program will support the development of innovative human resources service technologies, products, and models that align with the needs of the manufacturing industry [2][3] Group 2: Requirements for Pilot Cities - Selected pilot cities should have a significant manufacturing base, particularly in advanced manufacturing, and a well-developed human resources service industry [2] - Cities must coordinate various support policies, including employment, industry, finance, and land, to facilitate the deep integration of human resources services and manufacturing [2][3] Group 3: Development Focus Areas - The pilot will focus on creating human resources management consulting, global talent recruitment, specialized talent assessment, and digital human resources management services [3] - Support will be provided for manufacturing companies to collaborate with human resources service institutions on outsourcing HR tasks and establishing shared HR centers [3] Group 4: Implementation Timeline - By July 18, provincial human resources departments will recommend cities willing to undertake the pilot tasks, with expert evaluations to follow [4] - By the end of September, pilot cities are expected to develop and publish implementation plans for the integration of human resources services and manufacturing [4]