Core Viewpoint - The board of directors of New Oriental New Materials Co., Ltd. has made several important decisions regarding organizational restructuring and compliance with regulatory requirements following a directive from the Anhui Securities Regulatory Bureau [11][20]. Group 1: Board Meeting Overview - The sixth board meeting was held on October 22, 2025, with all nine directors present, complying with relevant regulations and company bylaws [3]. - The board approved multiple resolutions, including adjustments to the organizational structure and management systems [4][6]. Group 2: Voting Results - The resolution on organizational restructuring received 5 votes in favor, 0 against, and 4 abstentions, with specific concerns raised by the abstaining directors regarding the lack of strategic basis and quantifiable objectives [5]. - The resolution to revise the management system for controlling subsidiaries passed unanimously with 9 votes in favor [7]. - The resolution regarding the corrective action report in response to the Anhui Securities Regulatory Bureau's directive also passed unanimously with 9 votes in favor [9]. Group 3: Organizational Restructuring - The company received a directive from the Anhui Securities Regulatory Bureau on September 23, 2025, requiring corrective actions to address identified issues [11][20]. - The restructuring aims to enhance governance and operational efficiency, implementing a management control system led by the general manager [20]. - Specific changes include the cancellation of the comprehensive service department and the establishment of a general manager's office and human resources department [21]. Group 4: Compliance and Rectification Measures - The company has established a special task force to address the issues raised in the regulatory directive, ensuring compliance with accounting and internal control standards [12]. - Rectification measures include reassessing ERP system roles, enhancing financial oversight, and improving procurement and expense management processes [15][17]. - The company is committed to ongoing improvements in internal controls and governance to protect shareholder interests [19].

Market Performance - The three major U.S. stock indices closed mixed, with the Dow Jones Industrial Average rising by 0.47%, the S&P 500 remaining flat, and the Nasdaq Composite declining by 0.16% [1] - The Dow reached a new all-time high [1] Sector Performance - The Philadelphia Gold and Silver Index experienced a significant drop of 9.57% [1] - Large-cap tech stocks showed mixed results, with Amazon rising over 2%, while Google fell more than 2% and Tesla dropped over 1% [1] Notable Stock Movements - General Motors surged nearly 15%, marking its best single-day performance in five years [1] - Beyond Meat, referred to as the "first stock of artificial meat," skyrocketed over 146%, with a cumulative increase of approximately 600% over the last three trading days [1] Chinese Stocks - The Nasdaq Golden Dragon China Index fell by 0.97%, with notable declines in several popular Chinese stocks, including Daqo New Energy down over 5% and Alibaba and NIO down over 3% [1] - Some Chinese stocks like New Oriental and Bilibili saw gains of 5% and 6%, respectively [1]

Core Viewpoint - New Oriental (EDU.US) shares rose over 3% to $59.93 following Moody's confirmation of its "Ba1" corporate family rating and a positive outlook adjustment from stable to positive [1] Group 1: Rating and Outlook - Moody's Vice President and Senior Analyst Shawn Xiong stated that the positive outlook reflects New Oriental's successful recovery and expansion of its business scale and scope amid economic cycles and regulatory changes, while maintaining strong financial metrics for its rating category [1] - Moody's expects the company to continue adhering to prudent financial policies while developing its business, maintaining a strong balance sheet and good liquidity [1]

Core Viewpoint - New Oriental (EDU.US) shares rose over 3% to $59.93 following Moody's confirmation of its "Ba1" corporate family rating and a positive outlook adjustment from stable to positive [1] Group 1: Rating and Outlook - Moody's Vice President and Senior Analyst Shawn Xiong stated that the positive outlook reflects New Oriental's successful recovery and expansion of its business scale and scope amid economic cycles and regulatory changes, while maintaining strong financial metrics for its rating category [1] - Moody's expects the company to continue adhering to prudent financial policies while developing its business, maintaining a strong balance sheet and good liquidity [1]

Core Insights - The forum organized by New Oriental focuses on cultivating lifelong reading habits among children, introducing a bilingual reading system designed for progressive learning [1][3] Group 1: Importance of Reading - Reading is essential for children's growth, providing three key values: expanding horizons, enhancing cognition, and fostering emotional development [3] - The cultivation of reading habits requires collaboration among family, schools, and society to nurture lifelong readers and creators [3] Group 2: Bilingual Reading System - New Oriental has developed a systematic bilingual reading framework that emphasizes the principle of "comprehensible input," ensuring reading materials match children's cognitive levels [5][7] - The reading system is divided into nine progressive stages (S1 to L6) covering children aged 3 to 12, aligning with their cognitive and language development [7] Group 3: Implementation and Resources - The New Oriental Xiaoshutong APP supports the reading system by creating a learning loop, with over 3,000 original books available and a five-step learning method [7][8] - The partnership with Houghton Mifflin Harcourt's Heinemann Leveled Literacy Intervention series provides a core resource for children needing reading skill enhancement [8]

Core Insights - New Oriental Education Technology Group successfully held the second China Children's Reading Literacy Forum, introducing its bilingual reading system designed to provide a clear reading path for youth and support their overall development [1] Group 1: Reading System Development - The bilingual reading system is based on a scientific progressive design and a blended learning model that combines online and offline resources [1] - New Oriental has invested in creating a reading platform online and establishing reading spaces offline to help children develop good reading habits [1] Group 2: Learning Platform and User Engagement - The New Oriental Xiaoshutong APP is a key tool for implementing the reading system, creating a learning loop that connects online and offline experiences [1] - The platform has introduced over 3,000 authentic original books and employs a five-step learning method to facilitate efficient independent reading [1] - By the end of the 2025 fiscal year, students using the Xiaoshutong APP are expected to have read 8.3 million picture books, with total reading volume on the platform reaching nearly 80 million books [1] Group 3: Content Resource Development - New Oriental is gradually building a systematic reading material matrix through both imported and self-developed resources, with the Heinemann graded reading series from Houghton Mifflin Harcourt Group being a core resource [2]

Core Viewpoint - New Oriental Education is focusing on developing a bilingual reading system to cultivate lifelong reading habits among children, addressing challenges such as maintaining interest and unclear progression paths in English reading [1][2] Group 1: Bilingual Reading System - The bilingual reading system is designed with a scientific progressive structure, combining online and offline learning modes to provide a clear reading path for youth [1] - The reading system is divided into 9 progressive stages from S1 to L6, covering children aged 3 to 12, aligning with their cognitive development and language ability growth [1] - The early stages emphasize nursery rhymes and listening/speaking training, while later stages introduce phonics and simple chapter books, culminating in a focus on scientific literature and academic reading skills [1] Group 2: Implementation and Impact - New Oriental is leveraging the "Little Bookworm" app to create an effective online-offline learning loop, featuring over 3,000 original books [2] - The app employs a five-step learning method: "Guided Learning - Vocabulary Learning - Listening - Reading Along - Practice," to help children establish efficient independent reading paths [2] - By the end of the 2025 fiscal year, students using the app are expected to have read 8.3 million picture books, with a total reading volume of nearly 80 million books on the platform [2]

Group 1: Company Performance - The stock price of Lao Pu Huang Jin (06181) has shown strong performance, closing at 803.5 HKD, surpassing the upper Bollinger Band around 770 HKD, with some investors optimistic about a potential rise to 900 HKD [2] - China Southern Airlines (01055) has also demonstrated robust stock movement, closing at 4.4 HKD, with a peak at 4.52 HKD, and some investors speculating it could reach 6 HKD [5] - Geely Automobile (00175) has seen its stock price rise to 19.25 HKD, but there are concerns about a potential pullback due to resistance at 20 HKD [8] - New Oriental (09901) has experienced a significant surge, closing at 45.7 HKD, breaking through the upper Bollinger Band, indicating strong momentum [12] - Pop Mart (09992) has shown impressive growth, closing at 288.2 HKD, with a notable increase in trading volume and an RSI indicator above 80 [14] Group 2: Derivative Products Analysis - For Lao Pu Huang Jin, there is limited choice in call options, with only one product available at an exercise price of around 838 HKD, which has a leverage of 3.5 times and an implied volatility of 73% [3] - In the case of China Southern Airlines, there is only one call option available expiring in January 2026, making it difficult to assess its terms, thus suggesting investors should monitor the stock's performance before making decisions [5] - Geely Automobile has two in-the-money products with exercise prices of 18.8 HKD and 18.9 HKD, both expiring in December 2025, with one showing better terms than the other [9] - For Pop Mart, there are six call options with exercise prices around 300 HKD, with significant differences in terms such as leverage and implied volatility, highlighting the importance of comparing products [15][16]

Group 1 - The core viewpoint of the article highlights the strategic cooperation between Tibet People's Publishing House and New Oriental Smart Education, focusing on the planning, publishing, and distribution of publications over a five-year period [1] - The collaboration aims to integrate the strengths of both parties to enhance the vitality of publishing and contribute to the cultural prosperity and educational development in Tibet [1] - New Oriental's Vice President expressed the honor of promoting the book "I Love You, Tibet," which aims to help more domestic and international friends understand and appreciate Tibet [1] Group 2 - The event also marked the release of the book series "I Love You, Tibet," which consists of seven volumes, each addressing specific themes related to Tibet's geography, natural resources, flora and fauna, technology, culture, and experiences [2] - Each volume contains 60 questions, collectively covering over a thousand knowledge points, presented in an encyclopedic Q&A format, complemented by over a thousand exquisite photographs [2] - The series aims to showcase the rapid development and achievements of Tibet since the establishment of the Tibet Autonomous Region 60 years ago [2]

香港交易及結算所有限公司及香港聯合交易所有限公司（「香港聯交所」）對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不會就本公告全部或任何部分內容而產生或因倚賴該等內容而引致 的任何損失承擔任何責任。 NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC. 新 東 方 教 育 科 技（ 集 團 ）有 限 公 司 * 中國北京，2025年10月17日 於本公告日期，本公司董事會包括董事俞敏洪先生、周成剛先生及謝東螢先生；以及獨立董事李彥宏先生、 李廷斌先生及諸葛越博士。 （於開曼群島存續的有限公司） （股份代號：9901） 股東週年大會委託書 茲隨附New Oriental Education & Technology Group Inc.新东方教育科技（集團）有限公司* （「本公司」或「我 們」）股 東 週 年 大 會（「股東週年大會」）適 用 的 代 表 委 任 表 格， 當中載述將在股東週年大會上審議的事項。本代表委任表格亦可於本公司網站 http://investor.neworiental.org閱覽。 承董事會命 New Oriental ...