从用户端反馈来看，粉笔系列AI产品销量不错。 盈利增长原因：主要得益于门店网络持续扩张带动收入增加约6.96亿至11.7 【方正社服】绿茶&粉笔业绩预告 绿茶：预计25年收入/经调整净利润同比分别增长31.4%~45.1%/33.2%~47.4% 事件：公司发布2025年业绩预告，预计2025年度净利润约为4.6亿至5.08亿元，同比增长31.4%至45.1%；经调整净 利润预计为4.81亿至5.32亿元，同比增长33.2%至47.4%。 盈利增长原因：主要得益于门店网络持续扩张带动收入增加约6.96亿至11.74亿元，以及经营效率提升改善门店盈 利能力等。 粉笔：预计25年收入/经调整净利润同比下滑分别不多于4.8%/25.5% 事件：公司发布2025年业绩预告，预计2025年收入不少于26.56亿元，同比下滑不多于4.8%，主要系行业竞争加剧 导致培训服务及图书的销量下跌；经调整净利润不少于2.7亿元，同比下滑不多于25.5%，主要系收入减少。 【方正社服】绿茶&粉笔业绩预告 绿茶：预计25年收入/经调整净利润同比分别增长31.4%~45.1%/33.2%~47.4% 事件：公司发布2025年业绩预告，预 ...

Core Viewpoint - The company, Fenbi (02469.HK), anticipates a revenue of no less than RMB 2.656 billion and an adjusted net profit of no less than RMB 270 million for the fiscal year ending December 31, 2025, driven by increasing demand in the employment services market due to relaxed age restrictions for civil service examinations [1][3]. Group 1: Financial Performance - For the fiscal year 2025, Fenbi expects to achieve a revenue of at least RMB 2.656 billion and an adjusted net profit of no less than RMB 270 million [1]. - The company is experiencing a robust user growth, with over 30 million users served by its AI products by the end of 2025, including more than 2.38 million paying users [1]. Group 2: Market Demand - The demand for employment services remains strong, as indicated by the National Civil Service Bureau's data showing that in the 2026 national examination, there were 3.718 million applicants, with a ratio of approximately 98:1 between the number of qualified candidates and the recruitment plan [1]. Group 3: Technological Investment - Fenbi is increasing its investment in AI research and development, reallocating a total of HKD 60.8 million from its IPO funds, with HKD 12 million specifically for AI vertical model development and commercialization, and HKD 48.8 million for high-end talent and infrastructure [1]. - The company aims to leverage its decade-long educational research content and ongoing technological investments to strengthen its competitive edge in the "AI + Employment" sector [1]. Group 4: Future Plans - In 2026, Fenbi plans to expand its service range to create a "one-stop employment service platform" for over 70 million users, utilizing its self-developed vocational education large model as the engine for providing comprehensive employment services [2].