Welcome to our dedicated page for New Oriental Education and Technology Group American Depositary Shares (each representing ten (10) Common Shares) news (Ticker: EDU), a resource for investors and traders seeking the latest updates and insights on New Oriental Education and Technology Group American Depositary Shares (each representing ten (10) Common Shares) stock.
New Oriental Education & Technology Group, Inc. (NYSE: EDU, SEHK: 9901) is the preeminent private educational services provider in China, distinguished by its comprehensive range of educational programs, services, and products. Founded in 1993 by Michael Yu, New Oriental has built an extensive portfolio that includes foreign language training, test preparation courses, all-subjects tutoring, primary and secondary education, and specialized online education offerings.
With over 23.4 million student enrollments since inception, New Oriental has become a household name in Chinese private education, embodying a blend of interactive teaching techniques and traditional Chinese educational values. The company's recent ventures, including non-academic tutoring and intelligent learning systems, are gaining traction, evidenced by the 629,000 student enrollments in non-academic tutoring and 99,000 active users of its intelligent learning devices as of May 31, 2023.
New Oriental also boasts significant financial growth, reporting a 64.2% year-over-year increase in net revenues for the fourth fiscal quarter of 2023, mainly driven by its new educational initiatives and East Buy's private label products and e-commerce business. The company achieved an operating income of $48.1 million and a GAAP operating margin of 5.6% for the same period.
Additionally, New Oriental maintains robust liquidity, with cash and cash equivalents totaling approximately $4.5 billion as of the end of fiscal year 2023. The company also actively pursues share repurchase programs, repurchasing approximately $191.7 million worth of ADSs from the open market under its current program.
New Oriental's commitment to quality and innovation is reflected in its sustained revenue growth, diverse educational offerings, and strategic investments in technology and e-commerce. The company's executive leaders, including Michael Yu, Chenggang Zhou, and Stephen Zhihui Yang, underscore its strategic initiatives and financial health, ensuring long-term value for both customers and shareholders.
New Oriental Education & Technology Group (NYSE: EDU / 9901.SEHK) announced changes in its board composition. Dr. John Zhuang Yang has resigned as independent director and from his positions in the audit committee, compensation committee, and as chairperson of the nominating and corporate governance committee, effective December 16, 2024.
The company appointed Dr. Yue Zhuge as his replacement, taking on all the same roles. Dr. Zhuge brings extensive experience as a partner at NGP Capital and QuarkStar, and previously served as General Manager and VP of R&D at Hulu Beijing. She holds multiple advanced degrees including a Ph.D. in computer science from Stanford University.
New Oriental Education & Technology Group (NYSE: EDU) reported strong financial results for Q1 FY2025. Total net revenues increased by 30.5% year-over-year to US$1,435.4 million. Operating income rose 42.9% to US$293.2 million, while net income grew 48.4% to US$245.4 million. The company's core educational business showed significant growth, with overseas test preparation and consulting growing 18.8% and 20.7% respectively. Domestic test preparation saw 30.4% growth, while new educational initiatives surged 49.8%. The company expanded to 1,089 schools and learning centers, with non-academic tutoring courses reaching 484,000 student enrollments across 60 cities. The company maintains a strong financial position with US$4.9 billion in cash and investments.
New Oriental Education & Technology Group Inc. (NYSE: EDU and SEHK: 9901) has announced its annual general meeting of shareholders, scheduled for November 25, 2024 at 5:00 p.m. local time in Beijing, China. The meeting will serve as an open forum for shareholders to discuss company affairs with management, with no proposals submitted for shareholder approval.
The record date for determining shareholder eligibility is set for November 1, 2024. Holders of record of common shares and beneficial owners of ADSs are welcome to attend in person. The company has filed its annual report on Form 20-F for the fiscal year ended May 31, 2024, which is accessible on the company's website, SEC's website, and HKEX's website for Hong Kong purposes.
New Oriental Education and Technology Group Inc. (NYSE: EDU/ 9901.SEHK), a provider of private educational services in China, has announced that it will report its financial results for the first quarter ended August 31, 2024, before the U.S. market opens on October 23, 2024. The company's management will host an earnings conference call at 8 AM on October 23, 2024, U.S. Eastern Time (8 PM on October 23, 2024, Beijing/Hong Kong Time).
Participants can join the conference call by dialing in after registering in advance or by joining via a live webcast. A replay of the conference call will be available until October 23, 2025. The company has provided detailed instructions for accessing the call and webcast through various methods.
New Oriental Education & Technology Group Inc. (NYSE: EDU and SEHK: 9901), a leading provider of private educational services in China, has announced the filing of its annual report on Form 20-F for the fiscal year ended May 31, 2024. The report was filed with the Securities and Exchange Commission (SEC) on September 25, 2024.
The annual report is accessible on New Oriental's investor relations website and the SEC's website. The company will provide a hard copy of the report, including audited consolidated financial statements, free of charge to shareholders and ADS holders upon request.
Additionally, New Oriental has published its annual report for Hong Kong purposes in compliance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong (HKEX). This report is available on the company's investor relations website and the HKEX's website.
New Oriental Education & Technology Group Inc. (NYSE: EDU and SEHK: 9901), a leading private educational services provider in China, has announced a special cash dividend of US$0.06 per common share or US$0.6 per ADS. The total dividend payout will be approximately US$100 million. Shareholders of record as of September 9, 2024, will be eligible for the dividend, which is expected to be paid around September 23, 2024 for common shareholders and September 26, 2024 for ADS holders. This move demonstrates New Oriental's commitment to delivering value to its shareholders and reflects the company's strong financial position.
New Oriental Education & Technology Group Inc. (NYSE: EDU, SEHK: 9901) has announced an upsizing of its share repurchase program. The company's board of directors has approved an increase in the program's value from US$400 million to US$700 million, effective through May 31, 2025. As of the announcement date, New Oriental had already repurchased approximately US$330.3 million worth of its ADSs under the original program, which was launched on July 28, 2022. The repurchases may be conducted through various means, including open market transactions, private negotiations, and block trades, subject to market conditions and applicable regulations.
New Oriental Education & Technology Group (NYSE: EDU) announced its Q4 FY2024 and FY2024 financial results. Net revenues for Q4 FY2024 rose by 32.1% Y/Y to $1.14 billion, while operating income fell by 78.1% to $10.5 million. Net income decreased by 6.9% to $27 million. For the full year, net revenues grew by 43.9% to $4.31 billion, and operating income surged by 84.4% to $350.4 million. The number of schools and learning centers expanded to 1,025. The company attributed the growth to its new educational business initiatives and East Buy private label products. However, operating costs increased significantly due to capacity expansion and other investments. New Oriental's outlook for Q1 FY2025 expects net revenues to be between $1.25 billion to $1.28 billion, reflecting a Y/Y increase of 31% to 34%.
New Oriental Education and Technology Group will announce its financial results for Q4 of FY2024 on July 31, 2024, before the U.S. market opens. The results cover the quarter ending May 31, 2024. An earnings conference call will be hosted by the management at 8 AM U.S. Eastern Time (8 PM Beijing/Hong Kong Time) on the same day.
Participants can join the conference call by registering in advance to receive dial-in numbers and a unique personal PIN. Alternatively, the call can be accessed via a live webcast available on the company's investor relations website. A replay of the call will also be available on-demand until July 31, 2025.
New Oriental Education & Technology Group (NYSE: EDU, SEHK: 9901) announced an extension of its Share Repurchase Program through May 31, 2025. The program, initially launched in 2022 and amended in 2023, allows the company to repurchase up to US$153.7 million worth of shares. As of the press release date, New Oriental has already repurchased US$246.3 million worth of its ADSs. The repurchases can be executed through various means, including open market transactions and privately negotiated deals, depending on market conditions. The board will periodically review the program and may adjust its terms and size.
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