New Oriental Education & Technology Group Inc. Cancels Scheduled Earnings Release and Earnings Call

Rhea-AI Summary

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.

Positive

• None.

Negative

• Cancellation of Q4 earnings release may indicate potential regulatory pressures affecting financial performance.
• Absence of guidance and updates raises concerns among investors regarding future prospects.

BEIJING, July 30, 2021 /PRNewswire/ -- New Oriental Education & Technology Group Inc. ("New Oriental" or the "Company") (NYSE: EDU and SEHK: 9901), the largest provider of private educational services in China, today announced that in light of the recent regulatory developments, it will cancel the earnings release for the fourth quarter of fiscal year 2021, as well as the corresponding earnings conference call and live webcast previously scheduled at 8:00 a.m. U.S. Eastern Time (8:00 p.m. Beijing Time) on Tuesday, August 3, 2021. The Company will provide further updates at an appropriate time in the future.

About New Oriental

New Oriental is the largest provider of private educational services in China offering a wide range of educational programs, services and products to a varied student population throughout China. New Oriental's program, service and product offerings consist of K-12 after-school tutoring, test preparation, language training for adults, pre-school education, primary and secondary school education, education materials and distribution, online education, and other services. New Oriental is listed on NYSE (NYSE: EDU) and SEHK (9901.SEHK), respectively. New Oriental's ADSs, each of which represents one common share. The Hong Kong-listed shares are fully fungible with the ADSs listed on NYSE.

For more information about New Oriental, please visit http://www.neworiental.org/english/.

Contacts

For investor and media inquiries, please contact:
Ms. Sisi Zhao
New Oriental Education & Technology Group Inc.
Tel: +86-10-6260-5568
Email: zhaosisi@xdf.cn

Ms. Rita Fong
FTI Consulting
Tel: +852 3768 4548
Email: rita.fong@fticonsulting.com

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SOURCE New Oriental Education and Technology Group Inc.

FAQ

What led to the cancellation of New Oriental's Q4 earnings release?

The cancellation was due to recent regulatory developments impacting the education sector in China.

When was the Q4 earnings call for New Oriental supposed to take place?

The Q4 earnings call was scheduled for August 3, 2021, at 8:00 a.m. U.S. Eastern Time.

What is the stock symbol for New Oriental?

New Oriental is listed under the stock symbol 'EDU' on NYSE.

Is there a new date for New Oriental's earnings release?

No new date has been announced yet; the company will provide updates in the future.

What services does New Oriental provide?

New Oriental is the largest provider of private educational services in China, offering K-12 tutoring, test preparation, and various educational programs.