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 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.
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.