Financial Performance - Total net revenues for the third fiscal quarter of 2024 increased by 60.1% year over year to US$1,207.3 million[2] - Operating income rose by 70.6% year over year to US$113.4 million, with a GAAP operating margin of 9.4%[10] - Net income attributable to New Oriental increased by 6.8% year over year to US$87.2 million, with diluted net income per ADS of US$0.52[11] - New Oriental reported net revenues of $1,207,286 for the three months ended February 29, 2024, representing an increase of 60% compared to $754,153 for the same period in 2023[29] - Operating income for the same period was $113,432, up from $66,491, indicating a significant improvement in operational efficiency[29] - The company’s net income attributable to shareholders was $87,167, compared to $81,648 in the prior year, reflecting a year-over-year increase of 6.2%[29] - For the three months ended February 29, 2024, net income attributable to New Oriental was $87,167, an increase of 6.3% from $81,648 for the same period in 2023[31] - Non-GAAP net income attributable to New Oriental for the three months ended February 29, 2024, was $104,716, compared to $95,362 for the same period in 2023, reflecting a growth of 9.8%[31] - For the nine months ended February 29, 2024, net revenues were $3,176,907, a significant increase of 48.7% from $2,137,189 in the same period of 2023[37] - Operating income for the nine months ended February 29, 2024, was $339,898, compared to $141,992 for the same period in 2023, marking an increase of 139.5%[37] - Non-GAAP operating income for the nine months ended February 29, 2024, was $436,559, up from $201,242 in the same period of 2023, reflecting a growth of 116.7%[39] Cash and Assets - Cash and cash equivalents, term deposits, and short-term investments totaled approximately US$4.8 billion by the end of the quarter[5] - Cash and cash equivalents increased to $2,013,627 as of February 29, 2024, from $1,662,982 as of May 31, 2023, showing a growth of 21%[27] - Total current assets rose to $5,127,095, up from $4,413,887, marking an increase of 16%[27] - Cash, cash equivalents, and restricted cash at the end of the period on February 29, 2024, were $2,189,074, compared to $1,431,001 at the end of the same period in 2023[35] - The company’s total assets reached $7,189,543, an increase from $6,392,458, representing a growth of 12.5%[27] Liabilities and Expenses - Operating costs and expenses increased by 59.1% year over year to US$1,093.9 million, driven by growth in East Buy private label products[8] - The company’s operating cost and expenses totaled $1,093,854, compared to $687,662 in the previous year, reflecting a 59% increase[29] - Total liabilities increased to $3,039,460 from $2,577,670, which is a rise of 17.9%[27] - Total operating costs and expenses for the three months ended February 29, 2024, were $1,093,854, up 59% from $687,662 in the same period of 2023[31] Deferred Revenue and Enrollment - Deferred revenue increased by 30.8% year over year to US$1,521.7 million, reflecting cash collected upfront from customers[14] - New educational business initiatives achieved 72.7% revenue growth year over year, with approximately 355,000 student enrollments in non-academic tutoring courses[5] - The total number of schools and learning centers reached 911, an increase of 199 compared to the previous year[4] Future Outlook - The company expects total net revenues for the fourth quarter of fiscal year 2024 to be in the range of US$1,101.5 million to US$1,127.3 million, representing a year-over-year increase of 28% to 31%[17]

Financial Performance - For the third quarter of fiscal year 2024, net revenue increased by 60.1% year-over-year to $1,207.3 million[3] - Operating profit for the third quarter rose by 70.6% year-over-year to $113.4 million[3] - Net profit attributable to New Oriental shareholders increased by 6.8% year-over-year to $87.2 million[3] - For the third quarter of fiscal year 2024, the company's net revenue was $1,207.3 million, representing a year-over-year increase of 60.1%[10] - The company reported a Non-GAAP net profit attributable to shareholders of $104.7 million for the third quarter, a year-over-year increase of 9.8%[14] - New Oriental's net profit attributable to shareholders for the nine months ended February 29, 2024, was $282,619, compared to $148,382 for the same period in 2023, marking an increase of approximately 90.4%[35] - The diluted earnings per American Depositary Share (ADS) for the three months ended February 29, 2024, was $0.52, compared to $0.48 for the same period in 2023, representing an increase of approximately 8%[29] - New Oriental's basic net profit per American depositary share (ADS) increased to $1.71 for the nine months ended February 29, 2024, compared to $0.88 for the same period in 2023, representing a growth of 94.3%[38] - The diluted net profit per ADS under non-GAAP increased to $2.05 for the nine months ended February 29, 2024, up from $1.14 in the same period of 2023, reflecting an increase of 80.7%[38] Revenue and Growth - Revenue from overseas exam preparation and consulting services grew by approximately 52.6% and 25.7% respectively[8] - Non-academic tutoring business revenue increased by 72.7%, with 355,000 registrations in nearly 60 cities[8] - For the first nine months of fiscal year 2024, the company's net revenue was $3,176.9 million, a year-over-year increase of 48.6%[16] - For the three months ended February 29, 2024, New Oriental reported a net revenue of $3,176,907, an increase from $2,137,189 for the same period in 2023, representing a growth of approximately 48.7%[35] Operating Costs and Expenses - Operating costs and expenses for the quarter were $1,093.9 million, up 59.1% year-over-year, with a significant increase in costs related to self-operated products and live e-commerce[11] - The total operating costs and expenses for the three months ended February 29, 2024, amounted to $1,093,854, up from $687,662 in the previous year, which is an increase of approximately 59%[29] - The company incurred general and administrative expenses of $287,809 for the three months ended February 29, 2024, compared to $215,471 for the same period in 2023, which is an increase of approximately 33.5%[31] - Total operating expenses for the three months ended February 29, 2024, were $1,093,854, compared to $687,662 for the same period in 2023, reflecting an increase of about 59.0%[31] Cash Flow and Liquidity - The company recorded a net operating cash flow of approximately $109.4 million for the quarter[8] - As of February 29, 2024, the company's cash and cash equivalents amounted to $2,013.6 million, with deferred revenue increasing by 30.8% year-over-year to $1,521.7 million[15] - Cash and cash equivalents increased to $2,013,627 as of February 29, 2024, compared to $1,662,982 as of May 31, 2023, marking a growth of approximately 21%[27] - The company reported cash and cash equivalents of $2,189,074 as of February 29, 2024, compared to $1,431,001 at the end of the same period in 2023, indicating a year-over-year increase of about 53.0%[34] - Net cash provided by operating activities for the nine months ended February 29, 2024, was $745,808 thousand, an increase from $549,399 thousand in the same period of 2023, representing a rise of 35.7%[39] Future Outlook - The company expects net revenue for the fourth quarter of fiscal year 2024 to be between $1,101.5 million and $1,127.3 million, representing a year-over-year growth rate of 28% to 31%[18] Shareholder Returns - The company has authorized a share repurchase plan allowing for the repurchase of up to $400 million of its American Depositary Shares or common stock[9] Assets and Liabilities - Total assets as of February 29, 2024, were $7,189,543, up from $6,392,458 as of May 31, 2023, reflecting an increase of about 12%[27] - Total liabilities increased to $3,039,460 as of February 29, 2024, compared to $2,577,670 as of May 31, 2023, which is an increase of approximately 18%[28] - The company’s total equity rose to $4,150,083 as of February 29, 2024, from $3,814,788 as of May 31, 2023, indicating an increase of about 9%[28]

Core Viewpoint - New Oriental Education & Technology Group Inc. reported strong financial results for the third fiscal quarter of 2024, with significant year-over-year growth in revenues and operating income, driven by its educational initiatives and e-commerce business [1][2][10]. Financial Highlights - Total net revenues for the third fiscal quarter reached US$1,207.3 million, a 60.1% increase year over year [2][10]. - Operating income increased by 70.6% year over year to US$113.4 million [2][13]. - Net income attributable to New Oriental rose by 6.8% year over year to US$87.2 million [2][14]. Key Financial Results - Non-GAAP operating income for the quarter was US$140.9 million, reflecting a 60.3% increase year over year [3][13]. - Non-GAAP net income attributable to New Oriental was US$104.7 million, a 9.8% increase year over year [15]. - Basic and diluted net income per ADS were US$0.53 and US$0.52, respectively, marking increases of 7.7% and 8.6% year over year [14][15]. Operating Highlights - The total number of schools and learning centers increased to 911, up from 843 in the previous quarter and 712 a year ago [6]. - New educational business initiatives achieved 72.7% revenue growth year over year, with non-academic tutoring courses attracting approximately 355,000 student enrollments [7]. Business Growth - The overseas test preparation and study consulting businesses grew by approximately 52.6% and 25.7% year over year, respectively [7]. - The domestic test preparation business targeting adults and university students recorded a growth of approximately 53.2% year over year [7]. Cash Flow and Balance Sheet - The company reported a positive operating cash flow of US$109.4 million for the quarter, with cash and cash equivalents totaling approximately US$4.8 billion by the end of the quarter [7][16]. - Deferred revenue increased by 30.8% year over year to US$1,521.7 million, indicating strong demand for future services [18]. Share Repurchase Program - As of April 23, 2024, the company repurchased approximately 6.0 million ADSs for about US$195.3 million under its share repurchase program [8][9]. Outlook - New Oriental expects total net revenues for the fourth quarter of fiscal year 2024 to be in the range of US$1,101.5 million to US$1,127.3 million, representing a year-over-year increase of 28% to 31% [21].

隔夜股市 欧洲股市周四（4月18日）多数走高，美股三大指数涨跌不一，标普、纳指双双录得日线五连跌。个股方面，特斯拉跌3.55%，股价收于2023年1月以来最低水平。 热门中概股多数走高，纳斯达克中国金龙指数涨0.99%，终结四连跌。新东方涨2.77%，腾讯音乐涨2.75%。 商品市场 WTI原油期货结算价涨0.05%，报82.73美元/桶，布伦特原油期货结算价跌0.21%，报87.11美元/桶。COMEX黄金期货收涨0.25%，报2394.4美元/盎司；COMEX白银期货跌0.28%，报28.32美元/盎司。 巴以冲突快报 ①巴勒斯坦“入联”决议草案在安理会遭美国一票否决，巴方强烈谴责 ②美国对涉及伊朗的16名个人和2个实体实施制裁 ③以军称一周摧毁哈马斯上百个军事设施 ④白宫发声明称以色列同意考虑美国对进攻拉法的担忧 ⑤标普下调以色列长期发行人评级至A+（之前为AA-评级），前景展望负面 其他市场消息 【美联储威廉姆斯：完全没有感觉到降息紧迫性】 纽约联邦储备银行行长威廉姆斯表示，不急于降低利率，经济数据将决定时机。“货币政策处于良好位置，目前的利率水平正在逐步推动我们实现目标。所以我完全不觉得有降息的 ...

交银国际研究 公司更新 教育 收盘价 目标价 潜在涨幅 2024年4月10日 港元66.25 港元94.00↑ +41.9% 新东方教育科技 (9901 HK) 教培行业延续高增长，集团利润率持续改善趋势不改  2024财年3季度业绩预览：公司将于4月24日（北京时间）发布业绩， 个股评级 我们预计收入10.88亿美元，同比+44%（人民币77.8亿元，同比+50%）。 买入 估算调整后运营利润1.3亿美元，净利润1.2亿美元，相比此前预期，下调 毛利润及运营利润1200万美元，运营利润率/净利润率下调1个百分点至 12%/11%。 1年股价表现 9901 HK  新业务收入占比提升，对利润率优化有小幅负面作用。分业务看，预计出 160% MSCI中国指数 国留学备考收入同比+32%/高中+16%/非学科素养+115%/东方甄选+45%，对 140% 120% 比Visible Alpha预期的34%/23%/114%/48%。收入增量主要来自出国咨询、 100% 80% 高中，以及创新业务的非学科素养和东方甄选。我们估算3季度创新业务 60% 收入占比51%，但东方甄选受扩张、供应链建设及品牌日活动等因 ...

Core Viewpoint - New Oriental Education and Technology Group Inc. will report its financial results for the third quarter ended February 29, 2024, on April 24, 2024, before the U.S. market opens [1] Group 1: Financial Reporting - The earnings conference call will take place at 8 AM U.S. Eastern Time on April 24, 2024, which corresponds to 8 PM Beijing/Hong Kong Time on the same day [1] - Participants can register for the conference call in advance and will receive dial-in numbers and a unique personal PIN upon registration [3] - A live and archived webcast of the conference call will be available for access [3][4] Group 2: Company Overview - New Oriental is a provider of private educational services in China, offering a variety of educational programs, services, and products [5] - The company's offerings include educational services, test preparation courses, private label products, livestreaming e-commerce, and overseas study consulting services [5] - New Oriental is listed on both NYSE (NYSE: EDU) and SEHK (9901.SEHK), with its American Depositary Shares (ADSs) representing ten common shares [5]

【新东方回应“归巢计划”：主要针对东方甄选及新东方文旅等新兴业务发展需要 不涉及义务教育阶段学科类培训】财联社2月26日电，新东方教育科技集团发布声明，日前，新东方“归巢计划”受到部分媒体关注，针对有关情况特作如下说明：一、“归巢计划”为2022年8月首次提出，主要针对东方甄选及新东方文旅等新东方新兴业务发展需要，旨在安置老员工再就业，不涉及义务教育阶段学科类培训。该计划并非针对近期发布的《校外培训管理条例》征求意见稿。新东方始终认为，只有依法治理才能保障行业健康发展。新东方一如既往坚决拥护中央“双减”重大决策部署，原有义务教育阶段学科类培训已按要求完成整改，转为非营利主体，并与上市主体剥离。新东方坚决执行中央“双减”文件关于“各地不再审批新的面向义务教育阶段学生的学科类校外培训机构”的政策要求，已在新东方集团全面落实。 ...

转自：北京商报 北京商报讯（记者 赵博宇）2月23日，新东方发布“归巢计划”的消息引发热议。对此，北京商报记者向新东方方面进行求证，工作人员表示“一直都有归巢计划”。 据“新东方招聘”微信公众号消息，目前，厦门、大连、西安等多地的新东方学校均在招聘教育及文旅领域岗位。文旅领域岗位包括文旅管家、文旅直播编导等。天眼查信息则显示，近两个月时间内，新东方文旅已在重庆、唐山、贵州、宁波等多地成立新公司。 海量资讯、精准解读，尽在新浪财经APP ...

转自：北京商报 近日，西安新东方发布“归巢计划”，力邀疫情期间离开的员工回归。“好久不见，甚是想念，欢迎回家”，这是新东方在官网上对离职员工发出的热情呼唤。据悉，本次招聘岗位除素质素养、初高中、智慧学习机等教师岗位外，还增设了文旅主播、文旅直播运营、文旅顾问、文旅短视频运营、视频编导等职位。（21世纪经济报道） 海量资讯、精准解读，尽在新浪财经APP ...

写在除夕夜。回顾 2023 这一年，教培行业的发展，离不开政策环境、科技驱动、消费者需求及市场竞争等多维度思辨。 政策环境方面，预计在 2024 年将会有系列教培行业政策进一步落定；在科技驱动方面，2024年，大模型将为教培行业开辟更广阔的舞台，孵化更多更具创新力的产品；消费者需求层面，「双减」砍掉的是 K9 学科教育培训，却砍不掉消费者需求，把握消费者需求成为教培机构寻求增长的关键之法；市场竞争层面，头部效应仍将持续，传统头部企业将充分发挥内容优势，进一步整合细分市场，互联网头部企业将继续借力科技，向数智化方向转型。 教育行业，新兴龙头企业和超级个体将逐步崛起，共同打造显著的头部竞争格局。回望 2023 年这变动调整的一年，多鲸针对教育行业以及各细分赛道的多个现象都曾发表过一系列观点。 头部教育公司业务版图百花齐放，科技成为转型重要驱动力 2023 年，对于头部教育学习公司而言，是充满着动荡与未知的一年。各家公司在各自的转型赛道，作出了不一样的选择，纷纷进军不同领域与行业，形成了各自新的业务版图。 新东方、 学而思、高途等阔步前行，除拓展原有教育业务之外，同步进军直播电商。2023 年开始，文旅业务更是正 ...