中证报中证网讯(记者连润)9月17日，量子之歌公布截至2025年6月30日的2025财年第四季度及全年财 报。财报显示，2025财年，公司全年实现营收27.26亿元人民币，净利润3.57亿元；第四季度营收6.18亿 元，净利润1.08亿元。 值得关注的是，本季度首次纳入披露的潮玩业务实现营收6578万元，占总营收约10.6%。公司现金储备 达10.41亿元，为潮玩业务的IP开发、渠道拓展及国际化布局提供充足资金保障。 截至本公告发布之日，公司达成全资控股深圳熠起文化有限公司("Letsvan")的相关安排，并完成品牌升 级，中文品牌名焕新为"奇梦岛"。与此同时，公司已启动对原有非潮玩业务的重组，以集中资源深耕高 成长赛道，战略聚焦进一步明晰。 深化渠道布局加速国际化发展进程 渠道拓展方面，自2025年4月整合资源启动线上自营以来，GMV(商品交易总额)快速提升，8月已突破 1800万元，是4月的9倍以上。内容营销同步发力，两大平台总曝光量突破6.9亿(其中抖音超5.5亿，小红 书1.4亿)，粉丝数超25万，有效助推线上销量增长。 线下渠道通过分销商合作伙伴，网络覆盖超1万家终端，并借助潮玩展与快闪店提升品牌声 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [2] Core Views - The report highlights that the fine management of Chinese cuisine releases profit elasticity, while economic structural changes drive technological advancements [1][4] - The education sector is experiencing new opportunities due to social changes, with vocational education gaining traction as parents and students shift their views from "fallback options" to "active choices" [4][21] - The nutrition and health food market in China is steadily growing, with a focus on high-quality cross-border imported health brands [6][34] Summary by Sections Travel and Tourism - The summer travel volume has reached a historical high, with July's passenger transport volume expected to reach 71.2 million, a year-on-year increase of 3.0% [15] - Airlines have adopted a price-for-volume strategy, leading to a 7.5% decline in average domestic economy class ticket prices [15][16] Education - China Oriental Education expects a 7% year-on-year increase in new enrollment and a 10% increase in revenue for the first half of 2025, with net profit projected to grow by 45%-50% [21][23] - Good Future's revenue for FY2026 Q1 is expected to rise by 38.8% year-on-year, with net profit increasing by 174.4% [24][27] - New Oriental's revenue for FY2026 Q1 is projected to be $1.243 billion, a 9.4% increase year-on-year, despite a slowdown in overseas study demand [29] Chinese Cuisine - The "Little Garden" restaurant chain anticipates a net profit of RMB 360-380 million for the first half of 2025, reflecting a year-on-year increase of 28.6%-35.7% [30][35] - The Green Tea Group expects a net profit of RMB 230-237 million for the first half of 2025, a year-on-year increase of 32%-36% [32][33] Nutrition and Health - China's health food import value has grown from $408 million in 2008 to an estimated $7.753 billion in 2024, with a compound annual growth rate of 20.21% [34][37] - Cross-border imported health products are expected to gain market share due to relaxed entry qualifications and diverse consumer demands [43][44]