Bright Scholar E - BEDU STOCK NEWS

Bright Scholar Education Holdings Limited (NYSE: BEDU) reported its financial results for the fourth quarter and fiscal year ending August 31, 2020. Q4 revenue fell by 8.4% year-over-year to RMB652.1 million, with net loss ballooning to RMB148.6 million. Full-year revenue grew 31.3% to RMB3,366.5 million, while net income decreased by 35% to RMB164.2 million. The company noted a strong recovery in domestic K-12 enrollment and ongoing digital transformation, though overseas operations remained challenged by COVID-19. A new share repurchase plan of up to US$50 million has been approved by the Board.

Bright Scholar Education Holdings Limited (NYSE: BEDU) has announced a US$50 million share repurchase program, effective from November 20, 2020 to November 19, 2021. The buyback aims to enhance shareholder value by repurchasing outstanding American depositary shares (ADSs) based on market conditions. The company plans to finance the repurchases through existing cash or future operating cash. The Board retains the discretion to modify or terminate the program without prior notice, depending on various factors, including market conditions and working capital requirements.

Bright Scholar Education Holdings Limited (NYSE: BEDU) has scheduled the release of its unaudited financial results for the fourth fiscal quarter and the fiscal year ending August 31, 2020, on November 11, 2020, after market close. A conference call will follow on November 12, 2020, at 8:00 am ET to discuss these results and recent business activities. The company operates 80 schools in China and 8 internationally, with approximately 51,970 students enrolled as of May 31, 2020. Investors can access the earnings report and call through the investor relations page.

Bright Scholar Education Holdings Limited (NYSE: BEDU) announced plans to acquire a 60% equity interest in Leti Camp Education, a provider of inquiry-based learning and camp activities for teenagers. The transaction aims for completion by November 2020, subject to regulatory approvals. Leti Camp has served approximately 100,000 students since its establishment in 2017. CEO Zi Chen emphasized the potential for synergies and expansion in Bright Scholar’s camp business, enhancing the company's educational offerings with a focus on increasing student engagement and curiosity.

Bright Scholar Education Holdings Limited (BEDU) has declared a cash dividend of US$0.12 per ordinary share, totaling approximately US$14 million. The dividend will be paid on August 24, 2020 to shareholders on record as of August 10, 2020. This decision reflects the company’s ongoing focus on shareholder returns, based on its current financial performance and operations. As of May 31, 2020, Bright Scholar operated 80 schools in China and had an average enrollment of 51,970 students.

Bright Scholar Education Holdings Limited (BEDU) reported its third fiscal quarter results for 2020, showing revenue of RMB739.4 million, a 6.7% increase year-over-year. However, net income fell sharply by 50.5% to RMB68.0 million, driven by the pandemic's impact on operations. The gross profit margin decreased to 39.5% from 45.9%. For the nine-month period, revenue surged 46.6% to RMB2,714.4 million, with adjusted EBITDA increasing by 37.3%. The company reaffirmed its revenue guidance for the fiscal year, expecting between RMB3.37 billion and RMB3.47 billion.

Bright Scholar Education Holdings Limited (NYSE: BEDU) announced the release of its unaudited financial results for the third fiscal quarter ended May 31, 2020, scheduled for July 22, 2020, after the US market closes. A conference call will take place on July 23, 2020, at 8:00 am ET to discuss results and business activities. The company operates 80 schools across China and eight overseas, serving 51,879 enrolled students as of February 29, 2020. Further details and earnings can be accessed on their investor relations website.

Bright Scholar Education Holdings Limited (NYSE: BEDU) held its 2020 annual general meeting of shareholders on June 24, 2020. During the meeting, shareholders ratified the appointment of Deloitte Touche Tohmatsu Certified Public Accountants LLP as the independent registered public accounting firm for the fiscal year ending August 31, 2020. Bright Scholar is focused on providing quality international education and operates 80 schools in China and eight overseas, with an average enrollment of 51,879 students as of February 29, 2020.

Bright Scholar Education Holdings Limited (NYSE:BEDU) has launched the virtual "Future Global School," an online educational platform offering international curriculums. Utilizing an Online-Merge-Offline (OMO) model, the school enables students to engage in online classes while also attending physical locations. Starting from September 2020, the school will offer A-Level, Cambridge English, and plans to expand to AP and IB courses. With about 80 schools across China and abroad, Bright Scholar aims to enhance global access to quality education through this innovative approach.