Financial Data and Key Metrics Changes - Total net revenue for Q4 2025 increased by 18.7% year over year, driven by the expansion of new ventures [6][7] - Non-GAAP operating margin reached 6.5%, a year-over-year improvement of 410 basis points [7] - Net income attributable to New Oriental for the quarter was $7.1 million, representing a 73.7% decrease year over year [19] - Non-GAAP net income attributable to New Oriental was $98.1 million, a 59.4% increase year over year [19] Business Line Data and Key Metrics Changes - Overseas test prep business recorded a revenue increase of 15% year over year [7] - Overseas studies consulting business reported an 8% revenue increase year over year [7] - Adults and university students business saw a 17% revenue increase year over year [7] - New educational business initiatives reported a revenue increase of 33% year over year [9] - Integrated tourism-related business line recorded a revenue increase of about 71% year over year [9][10] Market Data and Key Metrics Changes - The top 10 cities contributed over 60% of the nonpayment tutoring business revenue [8] - The top 10 cities contributed over 50% of the intelligent learning system and device business revenue [9] - Domestic and international study tours and research camps were conducted across 55 cities, with the top 10 cities contributing over 50% of the revenue [10] Company Strategy and Development Direction - The company is focusing on enhancing operational consistency and driving long-term value creation [6] - Continued investments in AI and new educational initiatives are aimed at improving learning outcomes and operational efficiency [11][13] - The company is committed to a three-year shareholder return plan, allocating at least 50% of net income to dividends and share repurchases [24][82] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for fiscal year 2026, expecting total net revenue growth of 5% to 10% [22] - The company anticipates revenue growth acceleration starting in Q2 2026, despite a conservative Q1 outlook due to high base comparisons and economic factors [23][32] - Management acknowledged challenges from the economic environment and international relations affecting overseas business [44] Other Important Information - The company invested $28 million in upgrading its OMO teaching platform during the quarter [11] - Goodwill impairment of $58.3 million was recorded, compared to nil in the same period of the prior fiscal year [18] Q&A Session Summary Question: Can you provide more details on Q1 and full year guidance? - Management noted that Q1 guidance reflects a conservative approach due to economic conditions and high base comparisons from the previous year [28][29] Question: What is the basis for the shareholder return program? - The program is based on GAAP net income, and future guidance will include the Easter buy business [36][37] Question: What are the reasons for revenue deceleration? - Revenue slowing is attributed to economic conditions and increased competition, particularly in the K-12 sector [44][45] Question: How will margin trends look for FY '26? - Management expects margin expansion due to cost control measures implemented since March [55][66] Question: What is the plan for capacity expansion in learning centers? - The company plans to monitor capacity expansion closely, aligning it with revenue growth [67][68] Question: How is the summer enrollment looking? - Demand is slightly lower than expected, but retention rates are improving [97][100]

Financial Data and Key Metrics Changes - Total net revenue for Q4 2025 increased by 18.7% year over year, driven by the expansion of new ventures [6] - Non-GAAP operating margin reached 6.5%, a year-over-year improvement of 410 basis points [7] - Operating loss was $8.7 million compared to an operating income of $10.5 million in the same period last year [19] - Non-GAAP net income for the quarter was $98.1 million, representing a 59.4% increase year over year [19] - Cash and cash equivalents stood at $1.51 billion as of May 31, 2025 [20] Business Line Data and Key Metrics Changes - Overseas test prep business recorded a revenue increase of 15% year over year [7] - Adults and university students business saw a revenue increase of 17% year over year [8] - New educational business initiatives reported a revenue increase of 33% year over year [9] - Integrated tourism-related business line recorded a revenue increase of about 71% year over year [10] Market Data and Key Metrics Changes - The top 10 cities contributed over 60% of the nonpayment tutoring business revenue [8] - The top 10 cities contributed over 50% of the intelligent learning system and device business revenue [9] - Domestic and international study tours and research camps were conducted across 55 cities nationwide [11] Company Strategy and Development Direction - The company is focused on enhancing operational consistency and driving long-term value creation [6] - Continued investments in AI and new educational business initiatives are aimed at improving learning efficiency and customer retention [12][14] - A three-year shareholder return plan was approved, allocating no less than 50% of net income to dividends and/or share repurchases [24] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about revenue growth while emphasizing profitability across all business lines [21] - The company expects total net revenue for Q1 FY26 to be in the range of $1.46 billion to $1.51 billion, representing a year-over-year increase of 2% to 5% [22] - Management noted that the economic environment and international relations changes have adversely affected business [30][48] Other Important Information - The company invested $28 million during the quarter to upgrade and maintain its OMO teaching platform [11] - The company repurchased approximately 14.5 million ADSs for about $700 million from the open market [16] Q&A Session Summary Question: Can you provide more details on Q1 and full-year guidance? - Management indicated that Q1 guidance reflects a conservative approach due to economic conditions and a high base from the previous year [29][30] Question: What has changed in the guidance compared to last quarter? - The guidance now includes the entire group, including Easter buy, which has undergone restructuring [38] Question: What is the outlook for operating margins? - Management expects margin expansion in Q1 and throughout FY26 due to cost control measures [55] Question: What are the reasons for revenue deceleration? - Revenue deceleration is attributed to the economic environment and changes in international relations [48] Question: How is the company planning to allocate capital between dividends and share buybacks? - The board will decide on the allocation based on the final audit report and discussions regarding the best approach for shareholder returns [80]

Core Insights - New Oriental Education Technology Group reported its unaudited financial results for the fourth quarter and fiscal year ending May 31, 2025, showing a net revenue of $4.9 billion, a year-on-year increase of 13.6%, and a net profit of $372 million, up 20.1% [1] Financial Performance - For the fourth quarter of fiscal year 2025, New Oriental's net revenue reached $1.243 billion, reflecting a year-on-year growth of 9.4%, while the net profit attributable to the company was $7.1 million, a significant decrease of 73.7% [1] - Excluding revenue from self-operated products and live e-commerce business, the net revenue for the fourth quarter increased by 18.7% year-on-year [1] Business Segments - Revenue from overseas exam preparation and consulting services grew approximately 14.6% and 8.2% year-on-year, respectively [1] - Domestic exam preparation services targeting adults and university students saw a year-on-year growth of about 17% [1] - New Oriental's new educational businesses maintained strong growth momentum, recording a year-on-year revenue increase of 32.5% in the quarter [1] - Non-subject tutoring services were launched in nearly 60 cities, with approximately 918,000 registrations in the quarter [1] - The smart learning system and devices were adopted in around 60 cities, with about 255,000 active paying users in the quarter [1] Strategic Outlook - Over the past year, New Oriental has gradually consolidated its long-term development strategy [1]

Core Insights - The China Education Theme Index (931456) closed down 0.79% at 1192.58 points with a trading volume of 11.132 billion yuan [1] - Over the past month, the index has increased by 1.59%, 8.73% over the last three months, and 9.83% year-to-date [1] - The index comprises 50 liquid and large-cap education-related companies listed globally, reflecting the overall performance of Chinese education companies [1] Index Composition - The top ten holdings of the index are: New Oriental-S (14.38%), TAL Education (13.64%), Zhonggong Education (6.93%), Doushen Education (5.74%), UBTECH (5.31%), Visionox (5.02%), Tsinghua Tongfang (5.0%), iFLYTEK (4.85%), Newcapec (3.37%), and Guomai Technology (2.91%) [1] - The market distribution of the index holdings is as follows: Shenzhen Stock Exchange 52.23%, Hong Kong Stock Exchange 27.07%, New York Stock Exchange 15.45%, and Shanghai Stock Exchange 5.25% [1] Industry Breakdown - The industry composition of the index holdings shows: Consumer Discretionary 57.05%, Information Technology 36.54%, Industrials 3.81%, Materials 1.75%, and Communication Services 0.84% [2] - The index samples are adjusted semi-annually, with adjustments implemented on the next trading day after the second Friday of June and December [2] Investment Products - Public funds tracking the China Education sector include the Bosera China Education ETF [3]

Exhibit 99.1 New Oriental Announces Results for the Fourth Fiscal Quarter and the Fiscal Year Ended May 31, 2025 BEIJING, July 30, 2025 /PRNewswire/ – New Oriental Education & Technology Group Inc. (the "Company" or "New Oriental") (NYSE: EDU/ 9901.SEHK), a provider of private educational services in China, today announced its unaudited financial results for the fourth fiscal quarter and fiscal year ended May 31, 2025. Financial Highlights for the Fourth Fiscal Quarter Ended May 31, 2025 Key Financial Resul ...

Core Insights - New Oriental's net revenue for the fiscal year 2025 reached $4.9 billion, representing a year-on-year increase of 13.6% [1][2] - The net profit attributable to shareholders was $372 million, up 20.1% compared to the previous year [1][2] Fiscal Year 2025 Summary - Total net revenue: $4,900,262,000, an increase of 13.6% from $4,313,586,000 in fiscal year 2024 [2] - Operating profit: $428,250,000, a rise of 22.2% from $350,425,000 [2] - Non-GAAP operating profit: $554,228,000, up 15.8% from $478,786,000 [2] - Net profit attributable to shareholders: $371,716,000, an increase of 20.1% from $309,591,000 [2] - Non-GAAP net profit attributable to shareholders: $517,071,000, up 11.4% from $463,956,000 [2] Q4 Fiscal Year 2025 Summary - Q4 net revenue: $1,243,155,000, a year-on-year increase of 9.4% from $1,136,679,000 [3][5] - Q4 net profit attributable to shareholders: $7,100,000, a decrease of 73.7% from $26,972,000 [3][5] - Q4 operating loss: $8,674,000, compared to an operating profit of $10,527,000 in the same quarter last year, a decline of 182.4% [3][5] - Non-GAAP net profit for Q4: $98,083,000, an increase of 59.4% from $61,539,000 [5] Business Segment Performance - Core education business revenue (excluding self-operated products and live e-commerce) grew by 18.7% year-on-year [5] - Revenue from overseas exam preparation and consulting services increased by approximately 14.6% and 8.2%, respectively [5] - Domestic exam preparation for adults and university students recorded a year-on-year growth of about 17.0% [5] - New business segments (non-subject tutoring, intelligent learning systems) saw a revenue increase of 32.5% year-on-year [5] Financial Position - As of May 31, 2025, New Oriental had cash and cash equivalents amounting to $1.612 billion [9] - The company's share buyback plan has increased to a total value of $700 million, up from the original $400 million [9] - On July 30, 2025, New Oriental's stock closed at HKD 36.5, with a total market capitalization of HKD 60.4 billion [9]

Core Insights - New Oriental Education & Technology Group reported a net revenue of $1.243 billion for the fourth quarter ending May 31, 2025, representing a year-on-year increase of 9.4% [2] - The company's net profit attributable to shareholders was $7.1 million, a decrease of 73.7% year-on-year, with earnings per ADS at $0.04 [2] - For the fiscal year 2025, the group achieved a net revenue of $4.9 billion, a year-on-year increase of 13.6%, and a net profit attributable to shareholders of $372 million, reflecting a 20.1% increase [2] Revenue Growth - The fourth quarter's net revenue growth of 9.4% was driven by a significant increase of 18.7% in revenue excluding self-operated products and live e-commerce [3] - Revenue from overseas exam preparation and inquiry services grew approximately 14.6% and 8.2% respectively, while domestic exam preparation for adults and university students saw a growth of about 17.0% [3] - New educational businesses maintained strong growth, achieving a revenue increase of 32.5% in the quarter, with non-subject tutoring services operating in nearly 60 cities and approximately 918,000 registrations [3] Operational Efficiency - The company is focusing on optimizing teaching space layout to align with business growth and operational efficiency [3] - Investment in an OMO (Online-Merge-Offline) teaching system and artificial intelligence technology is ongoing, with the introduction of AI-driven learning devices and solutions [3] - Non-GAAP operating profit margin for the quarter, excluding self-operated products and live e-commerce, was 6.5%, an increase of 410 basis points year-on-year [3] Strategic Focus - The company aims to enhance product capability and quality, systematically develop educational resources, and improve operational efficiency in the new fiscal year [3] - Continuous investment in high-quality self-operated products is expected to diversify offerings and achieve significant breakthroughs [3] - The overall strategy includes cost optimization and efficiency enhancement across all business segments to pursue sustainable revenue growth and higher profitability [3]

Group 1 - The company reported a net revenue of $1.243 billion for the fourth quarter ending May 31, 2025, representing a year-on-year increase of 9.4% [1] - The net profit attributable to shareholders was $7.1 million, a decrease of 73.7% year-on-year, with earnings per ADS at $0.04 [1] - For the fiscal year 2025, the company achieved a net revenue of $4.9 billion, a year-on-year increase of 13.6%, and a net profit attributable to shareholders of $372 million, an increase of 20.1% [1] Group 2 - The Executive Chairman expressed satisfaction with the 9.4% year-on-year growth in net revenue for the quarter, highlighting an 18.7% increase in revenue excluding self-operated products and live e-commerce [2] - Revenue from overseas exam preparation and consultation services grew approximately 14.6% and 8.2% year-on-year, respectively, while domestic exam preparation for adults and university students saw a growth of about 17.0% [2] - New educational businesses maintained strong growth, achieving a revenue increase of 32.5% in the quarter, with non-subject tutoring services operating in nearly 60 cities and approximately 918,000 registrations [2] Group 3 - The CEO emphasized the focus on optimizing teaching space layout to align with business growth and operational efficiency, alongside investments in AI technology for the educational ecosystem [2] - The company launched a new generation of AI-driven smart learning devices and solutions, integrating new technologies into both offline and online products to enhance product capabilities [2] - The CFO noted that the Non-GAAP operating profit margin, excluding self-operated products and live e-commerce, was 6.5% for the quarter, an increase of 410 basis points year-on-year, with an annual Non-GAAP operating profit margin of 12.8%, up 150 basis points [2]

本文源自：金融界AI电报 新东方第四财季净营收12.4亿美元，同比增长9.4%，预估11.9亿美元第四财季调整后每ADS收益0.61美 元，预估0.39美元第四财季经营亏损867万美元，预估收益2780万美元 ...

Group 1 - The core viewpoint of the article highlights New Oriental-S (9901.HK) reporting its financial performance for the fiscal year ending May 31, 2025, with a net revenue of 4.9 billion USD, representing a year-on-year increase of 13.6% [1] - The company achieved a net profit of 372 million USD, which is a year-on-year increase of 20.1% [1]