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Four Seasons Education (Cayman) Inc., listed on the NYSE under the symbol FEDU, is a Shanghai-based company offering a broad range of after-school education services, chiefly for kindergarten, elementary, and middle school students. The company has diversified its portfolio to include research practice services, educational informatization equipment, high-quality educational resources, teacher training, and a digital publishing business. Recently, it has broadened its focus, delving into educational research and informatization.
The company's mission is to maximize learners' potential by leveraging advanced technology and enriched educational content. Four Seasons Education has developed various learning products and services to cater to the evolving needs of students and educators. These include non-academic tutoring programs, school-based tutoring product solutions, teacher training programs, study camps, and learning trips. Additionally, the company is building a robust portfolio of tourism programs specifically tailored for senior adults, highlighting its commitment to lifelong learning.
Recent Achievements and Financial Condition
For the first half of fiscal year 2024, Four Seasons Education reported a substantial revenue increase of 347.5%, climbing to RMB61.8 million (US$8.5 million) from RMB13.8 million in the previous year. This growth was primarily driven by the company's expanding tourism and non-academic tutoring businesses. Gross profit also saw a significant rise of 650.1%, reaching RMB26.7 million (US$3.7 million), while general and administrative expenses decreased by 10.6%. Further, the company achieved a positive net income of RMB5.7 million (US$0.8 million), reversing a net loss of RMB23.9 million from the previous year.
Strategic Partnerships and Future Projects
A pivotal development for Four Seasons Education is a facility agreement with China Merchants Bank Co., Ltd. Singapore Branch, securing an uncommitted credit facility of up to RMB110 million. This credit facility will back a domestic fixed assets loan aimed at constructing the Wuyuan Siji Gongda Integrated Practical Study Camp Project.
Innovative Services and Market Expansion
The company continues to innovate within its educational offerings, integrating unique non-academic tutoring programs and themed enrichment learning trips. Its recent initiatives include developing overseas learning preparation and consulting services to provide a more comprehensive educational experience for students and communities. Moreover, Four Seasons Education remains committed to enhancing shareholder value by diversifying its customer base and investing in core capabilities.
For the latest updates and more information, please visit the investor relations website.
Four Seasons Education announced a share repurchase program effective September 23, 2021, allowing for the buyback of up to US$15 million of its American depositary shares (ADSs) over the next year. This initiative aims to enhance shareholder value and will be funded through available working capital or future operational cash flows. Buybacks may occur via open market purchases or private transactions, with share price caps set by the CEO. This move reflects the company's confidence in its financial health and commitment to returning value to shareholders.
Four Seasons Education (Cayman) Inc. (NYSE: FEDU) has faced significant changes due to new regulations announced on July 24, 2021, by China's state media regarding after-school tutoring services. The regulations mandate that tutoring institutions for compulsory education must register as non-profit entities and prohibits foreign ownership and capital-raising for such services. The company anticipates that these changes will adversely affect its operations and results, as it assesses compliance with the new policies.
Four Seasons Education (Cayman) Inc. (NYSE: FEDU), based in Shanghai, has received a non-compliance notice from the NYSE due to its American depositary shares (ADSs) trading below the $1.00 threshold over a consecutive 30-day period. The company has six months from June 22, 2021, to regain compliance by ensuring the closing price and average share price both exceed $1.00. Failure to do so may lead to suspension and delisting from the NYSE. Four Seasons Education is exploring market conditions and options to address this issue.
Four Seasons Education (Cayman) Inc. (NYSE: FEDU) has filed its annual report on Form 20-F for the fiscal year ended February 28, 2021. The report includes audited financial statements and is accessible on the company’s investor relations website and the SEC's website. The Shanghai-based company specializes in after-school education services, with a primary focus on math education and recently expanded offerings including physics, chemistry, and languages for various grade levels. Shareholders can request a hard copy of the report at no charge.
Four Seasons Education (NYSE: FEDU) reported its unaudited financial results for Q4 and FY 2021, ending February 28, 2021. Q4 revenue declined slightly to RMB70.2 million (US$10.8 million), with a gross profit increase of 14.1% year-over-year, reaching RMB28.3 million (US$4.4 million). Operating loss improved significantly to RMB8.5 million (US$1.3 million) from RMB168.2 million last year. Net loss also decreased to RMB11.5 million (US$1.8 million) from RMB145.4 million. For FY 2021, revenue dropped to RMB280.3 million (US$43.3 million) due to COVID-19 effects, while total student enrollment grew 26.4% to 30,343.
Four Seasons Education (Cayman) Inc. (NYSE: FEDU) will announce its unaudited financial results for the fourth quarter and fiscal year 2021 on May 13, 2021, before the U.S. market opens. An earnings conference call is scheduled for 8:00 AM ET on the same day. The company specializes in after-school education services, particularly in high-quality math education. As part of its mission, Four Seasons Education aims to enhance students' academic potential across various subjects and grade levels, backed by a team of experienced educators.
Four Seasons Education (NYSE: FEDU) reported third quarter fiscal 2021 results, showing a revenue decline to RMB67.6 million (US$10.3 million) from RMB103.5 million year-over-year. Gross profit dropped to RMB25.2 million (US$3.8 million) from RMB53.0 million. The company experienced an operating loss of RMB12.8 million (US$1.9 million) compared to an operating income of RMB10.9 million last year. Total student enrollment decreased to 53,493 from 67,714. The company anticipates fourth-quarter revenue between RMB64.0 million and RMB67.5 million, reflecting ongoing impacts from regulatory changes and COVID-19.
Four Seasons Education (Cayman) Inc. (NYSE: FEDU) will announce its third quarter fiscal year 2021 unaudited financial results on January 12, 2021, before U.S. market opening. The earnings conference call is scheduled for 8:00 AM ET on the same day, with details available on the company's investor relations website. The press release emphasizes the company's commitment to providing high-quality after-school education services, particularly in math, and showcases its systematic approach to curriculum development aimed at improving student outcomes.
Four Seasons Education (NYSE: FEDU) reported its Q2 FY2021 results, revealing revenue of RMB83.8 million (US$12.2 million), a decline from RMB128.8 million year-over-year. Gross profit also fell to RMB35.6 million (US$5.2 million) from RMB71.0 million. The company recorded an operating loss of RMB2.7 million (US$0.4 million) compared to an operating income of RMB28.3 million last year. Despite the challenges posed by COVID-19 and regulatory changes, the company expects Q3 FY2021 revenue between RMB62.1 million to RMB67.2 million.
Four Seasons Education (NYSE: FEDU) received a non-compliance letter from the NYSE on October 2, 2020, due to its American depositary shares trading below $1.00 for a consecutive 30-day period. The company has a six-month period to restore compliance by achieving an average closing price of at least $1.00. Failure to do so may result in suspension and delisting. Four Seasons Education aims to monitor market conditions while exploring options to address this issue. The company specializes in after-school education services, primarily focusing on math.
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