New Oriental Ed & Technology G Stock Price, News & Analysis

New Oriental Education & Technology Group Inc. (NYSE: EDU) announced the outcomes of its extraordinary general meeting held on March 8, 2021. Key resolutions adopted include a stock subdivision effective March 10, 2021, where each common share will be subdivided into ten shares, reducing the par value to US$0.001. Additionally, the company will adopt a new dual foreign name, subject to registration in the Cayman Islands. The company's authorized share capital will be adjusted to US$3,000,000, divided into 3,000,000,000 shares. New Oriental continues as China's largest private educational services provider, offering a range of educational programs.

New Oriental Education & Technology Group announced an extraordinary general meeting (EGM) for shareholders on March 8, 2021, at 5:00 p.m. Beijing time. Shareholders as of February 1, 2021, will be eligible to vote. The board supports the proposed resolutions outlined in the Notice of EGM. New Oriental also filed its annual report on Form 20-F with the SEC, detailing financial performance for the fiscal year ending May 31, 2020. The company provides diverse educational services across China and is listed on NYSE: EDU and SEHK: 9901.

New Oriental Education & Technology Group (NYSE: EDU) reported its Q2 FY2021 results, with total net revenues rising 13.1% year-over-year to US$887.7 million. However, the company faced an operating loss of US$32.1 million, contrasting with an operating income of US$25.3 million last year. Net income attributable to the company was US$53.9 million, a slight increase of 0.9%. Operating expenses surged by 21%, primarily due to increased teacher compensation and rental costs. The company anticipates Q3 revenues between US$1,098.6 million and US$1,144.8 million, suggesting growth of 19-24% year-over-year.

New Oriental Education & Technology Group Inc. (NYSE: EDU) announced the appointment of Mr. Zhihui Yang as Executive President, effective January 15, 2021. Mr. Yang, who has served as Chief Financial Officer since April 2015, has extensive experience within the company and the education sector. His promotion is expected to enhance leadership as New Oriental continues its growth as China's largest private educational services provider. The company offers diverse educational programs, including K-12 tutoring, test preparation, and online education.

New Oriental Education and Technology Group Inc. (NYSE: EDU) will release its financial results for the second quarter ended November 30, 2020, before the U.S. market opens on January 22, 2021. An earnings conference call will take place at 8 AM ET the same day. Participants can register for the call through a provided link. New Oriental is recognized as the largest private education provider in China, offering various educational programs, including K-12 tutoring and online education.

New Oriental Education & Technology Group Inc. (NYSE: EDU) announced the pricing of its global offering of 8,510,000 new common shares at HK$1,190.00 per share. This equates to approximately US$153.45 per American depositary share (ADS). The gross proceeds are expected to be around HK$10.13 billion, or HK$11.65 billion if the over-allotment option is exercised. The funds will be allocated to enhance learning technologies, business growth, and acquisitions. The shares are set to begin trading on the Hong Kong Stock Exchange on November 9, 2020.

New Oriental Education & Technology Group Inc. (NYSE: EDU) announced its Hong Kong Public Offering, part of a Global Offering of 8,510,000 new common shares, which will be listed on the Main Board of The Stock Exchange of Hong Kong under stock code "9901." The Offering includes 510,600 shares for Hong Kong and 7,999,400 shares for international investors. The maximum offer price is set at HK$1,399.00 per share. Proceeds will enhance learning technologies, support business growth, and general corporate purposes. The public offering opens on October 29, 2020, and closes on November 3, 2020.

New Oriental Education & Technology Group Inc. (EDU) reported an 8.0% decline in net revenues for Q1 FY2021, totaling US$986.4 million. Operating income fell by 38.9% to US$150.3 million, with net income decreasing by 16.4% year-over-year to US$174.7 million. Despite these declines, student enrollments in academic subjects increased by 13.5%, reaching approximately 2.96 million. The company expects Q2 FY2021 revenues between US$863.7 million and US$887.3 million, indicating potential recovery. Operational margins saw some improvement due to cost control measures amidst COVID-19 challenges.

New Oriental Education and Technology Group Inc. (NYSE: EDU), the largest private education provider in China, will announce its financial results for the first fiscal quarter ending August 31, 2020, on October 13, 2020, before U.S. market opening. An earnings conference call is scheduled for the same day at 8 AM ET. Participants can register in advance to receive access information. New Oriental offers diverse educational services, including language training, online education, and overseas study consulting. More details will be available on their investor relations website.