Welcome to our dedicated page for New Oriental Ed & Technology G news (Ticker: EDU), a resource for investors and traders seeking the latest updates and insights on New Oriental Ed & Technology G stock.
New Oriental Education and Technology Group Inc. (NYSE: EDU; SEHK: 9901) is a provider of private educational services in China whose news flow is closely tied to its diverse education and e-commerce activities. Company announcements regularly describe a wide range of educational programs, services and products, including educational services and test preparation courses, private label products and livestreaming e-commerce, overseas study consulting services, and educational materials and distribution.
On this page, readers can follow news related to New Oriental’s quarterly and annual financial results, which are typically released through detailed earnings press releases and furnished to the SEC on Form 6-K. These updates discuss net revenues, operating income, net income attributable to New Oriental, non-GAAP financial measures, operating margins and cash flow, as well as operating highlights such as the performance of overseas test preparation, overseas study consulting, domestic test preparation for adults and university students, and new educational business initiatives.
New Oriental’s news also covers technology and product developments such as its OMO (online-merge-offline) teaching system, intelligent learning systems and devices, and the integration of AI technologies into its education ecosystem, including AI-powered Intelligent Learning Devices and AI-driven Smart Study Solutions. The company provides operating metrics on student enrollments in non-academic tutoring courses and active paid users of intelligent learning devices across dozens of cities in China.
In addition, investors can track capital allocation and governance updates, including the three-year shareholder return plan, ordinary cash dividends, share repurchase programs, notices of annual general meetings, and results of shareholder votes, as disclosed in press releases and related filings. For those following EDU, revisiting this news feed provides a consolidated view of New Oriental’s financial performance, operational trends, technology initiatives and shareholder-related announcements over time.
New Oriental Education & Technology Group Inc. (NYSE: EDU) announced plans to cease K-9 academic tutoring services by the end of 2021 due to new Chinese regulations. This change is expected to significantly decrease revenue, as K-9 services constituted approximately 50-60% of total revenues in recent fiscal years. The company will redirect efforts towards non-academic offerings like test prep and language courses. New Oriental remains committed to compliance and will adjust operations as required amidst ongoing market changes.
New Oriental Education & Technology Group Inc. (NYSE: EDU) will hold its annual general meeting on November 18, 2021, at 5:00 p.m. in Beijing. No shareholder proposals will be presented; the meeting will instead facilitate discussions between management and shareholders. The record date for shareholders is set for October 29, 2021. The company has filed its annual report, including audited financial statements for the fiscal year ended May 31, 2021, available on its website and the SEC's site.
New Oriental Education & Technology Group Inc. (NYSE: EDU) announced the filing of its annual report on Form 20-F for the fiscal year ending May 31, 2021, with the SEC on September 24, 2021. The report includes audited consolidated financial statements and is accessible on the investor relations website and the SEC’s site. Additionally, the company published its annual report for Hong Kong, aligning with HKEX regulations. This move underscores New Oriental's commitment to transparency and regulatory compliance in the educational services sector in China.
On August 18, 2021, New Oriental Education & Technology Group Inc. (NYSE: EDU) announced the impact of new regulations from the Beijing Municipality aimed at reducing homework and after-school tutoring burdens on students. The 'Beijing Measures' prohibit new after-school tutoring providers for academic subjects and restrict existing providers, mandating non-profit registration. Additionally, the measures limit operational hours and pricing, drastically affecting New Oriental's revenue from after-school tutoring, particularly during weekends and holidays, which historically contributed significantly to the company's income.
New Oriental Education & Technology Group Inc. (NYSE: EDU) has canceled its scheduled earnings release for Q4 of fiscal year 2021, originally set for August 3, 2021. This decision is in response to recent regulatory developments in China impacting the education sector. The company will provide further updates at a later date.
New Oriental Education & Technology Group (NYSE: EDU) announced on July 24, 2021, that China's state media disclosed a new regulation impacting after-school tutoring services. The regulation mandates that institutions must register as non-profit, prohibits foreign ownership, and disallows new academic tutoring institutions. Additionally, companies like New Oriental cannot raise capital for academic tutoring in compulsory education. The company anticipates significant adverse effects on its academic after-school programs and will comply with the new rules.
New Oriental Education & Technology Group (NYSE: EDU) addressed media reports regarding potential new PRC regulations affecting after-school tutoring services in China. The company clarified that these regulations have not been officially published and that they do not comment on market speculations. As the largest private educational service provider in China, New Oriental offers a broad array of educational programs, including K-12 tutoring and online education.
New Oriental Education and Technology Group (NYSE: EDU) announced it will report its financial results for the fourth quarter ending May 31, 2021, on August 3, 2021, before U.S. market opens. The management will host an earnings conference call at 8 AM ET the same day, with access via registration. New Oriental is the largest private educational services provider in China, offering a variety of educational programs across the country. Its shares are traded on NYSE and SEHK, with ADSs representing common shares.
New Oriental Education & Technology Group reported a 29.0% increase in net revenues, reaching US$1.19 billion for Q3 FY2021. However, operating income decreased by 13.5% year-over-year to US$101.5 million. Net income rose by 9.9% to US$151.3 million. Total student enrollments surged 43% to approximately 2.3 million. Despite challenges from a COVID-19 outbreak, the company sees strong demand recovery and projects Q4 revenues between US$1.10 billion and US$1.14 billion, representing a growth of 38% to 43%.
New Oriental Education and Technology Group Inc. (NYSE: EDU) will announce its third-quarter financial results for the period ending February 28, 2021, before U.S. markets open on April 20, 2021. The management will hold an earnings conference call at 8 AM ET on the same day, which participants can join via a registration link. The Company, recognized as the largest private education provider in China, offers diverse educational services, including K-12 tutoring and online education. For further updates, a live webcast will also be available.
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