Group 1 - The core idea emphasizes the importance of founder's personal brand (IP) in influencing stock price fluctuations and investor perception, highlighting that it is a necessary aspect of business strategy rather than an optional one [2][4] - Building a founder's IP begins with identifying content positioning that resonates with investors, focusing on how the founder navigates the company through cycles rather than just showcasing past successes [2] - The choice of communication channels is crucial; high-end interviews are more effective for establishing authority compared to fragmented social media interactions [2] Group 2 - During crises, the performance of a founder's IP serves as a critical test, as demonstrated by Haidilao's management response to a hygiene scandal, which showcased accountability and transparency [3] - The creation of a founder's IP is not merely about exposure; it requires alignment with the company's strategic execution to avoid disconnects that can lead to reputational damage, as seen in the case of LeEco's founder [3] - A systematic approach to building a founder's IP is provided by the "Chief IPO" program, which focuses on deep dialogues to extract and present the founder's vision and resilience effectively [3] Group 3 - The essence of the capital market is trust, and when financial data becomes similar across companies, the thought leadership of founders becomes a key differentiator [4] - Establishing trust through professional content, amplifying influence through authoritative platforms, and solidifying image through crisis communication are identified as the correct pathways for building a public company's founder IP [4]

Core Viewpoint - New Oriental Education & Technology Group (NYSE: EDU) continues to struggle following a disappointing earnings report in early 2025, indicating ongoing challenges in the educational services sector in China [1]. Company Summary - New Oriental Education & Technology Group is a provider of educational services in China, facing difficulties in recovering from a downturn experienced earlier in the year [1].

Core Viewpoint - New Oriental Education & Technology Group (09901.HK) will hold a board meeting on October 27, 2025, to approve its unaudited financial results for the three months ending August 31, 2025 [1] Group 1 - The unaudited financial results will be published on October 28, 2025, before the U.S. market opens [1] - A conference call to discuss the financial results will take place on October 28, 2025, at 8 PM Hong Kong time [1] - Company management will participate in the conference call to discuss the results and answer questions [1]

NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC. 新 東 方 教 育 科 技（ 集 團 ）有 限 公 司 * （於開曼群島存續的有限公司） 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。 在會議開始前10分鐘內，您可以使用預先註冊時收到的確認電子郵件中提供的與會資訊 （包括撥入號碼及個人識別碼）。 1 （股份代號：9901） 董事會會議日期 董事會會議日期 New Oriental Education & Technology Group Inc.新東方教育科技（集團）有限公司*（「本公 司」）董事（「董事」）會（「董事會」）謹此公佈，董事會將於2025年10月27日（星期一）舉行會 議，藉以（其中包括）審批本公司截至2025年8月31日止三個月的未經審核業績（「業績」） 及其發佈。 我們將於 2025 年 10 月 28 日（星 期 二）（紐 約 時 間）美 國 市 場 開 市 前 在 香 ...

Core Viewpoint - The Nasdaq China Golden Dragon Index increased by 0.87% on October 9, indicating a positive trend in the performance of popular Chinese concept stocks [1] Company Performance - NIO saw a rise of over 4% [1] - New Oriental experienced an increase of over 3% [1] - Bilibili and Xpeng Motors both rose by over 2% [1] - iQIYI, however, declined by over 2% [1]

Core Viewpoint - Bank of America Securities has raised the non-GAAP earnings per share forecast for New Oriental Education & Technology Group (09901, EDU.US) for the fiscal years 2026 to 2027 by 4% and 5% respectively, primarily due to better-than-expected revenue decline in overseas business and improved profit margins [1] Group 1 - Target price increased by 5% to HKD 45.4, with the US stock target price rising to USD 58.2, maintaining a "Buy" rating [1] - The company holds USD 4.8 billion in cash and has strong free cash flow generation capabilities, estimated to reach USD 500 million to USD 700 million from fiscal years 2026 to 2028 [2] - Current dividend payout ratio is equivalent to 50% of net profit (USD 371 million for fiscal year 2025), indicating significant room for improvement [2] Group 2 - Management guidance indicates that overseas revenue is expected to decline in the low single digits for the August quarter and fiscal year 2026, but non-US/UK consulting and related services (accounting for about 60% of consulting revenue) are expected to grow above expectations [2] - K9 business growth may temporarily fall below the annual target of 20% due to course scheduling adjustments and competition, but is expected to accelerate again starting from the November quarter [2] - Profit margin resilience is anticipated due to cost control, improved margins in K12 and Dongfang Zhenxuan, and narrowing losses in the cultural tourism business, which may offset pressure on overseas business profit margins [2]

Core Viewpoint - Bank of America Securities has raised the target price for New Oriental-S (09901) to HKD 45.4, citing potential catalysts on the horizon, including improved overseas business performance and increased profit margins [1] Group 1: Earnings Forecast and Target Price Adjustment - The non-GAAP earnings per share forecast for the fiscal years 2026 to 2027 has been increased by 4% and 5% respectively, primarily due to a smaller-than-expected decline in overseas business revenue and improved profit margins [1] - The target price for New Oriental's U.S. stock has been raised to USD 58.2, maintaining a "Buy" rating [1] Group 2: Potential Catalysts - Shareholder returns are expected to improve, considering the company holds USD 4.8 billion in cash and has strong free cash flow generation capabilities projected to reach USD 500 million to USD 700 million from fiscal years 2026 to 2028. The current dividend payout ratio is equivalent to 50% of net profit, with significant room for increase. A 100% payout ratio in fiscal year 2026 would yield a dividend yield of 4.5% [2] - Overseas business performance is anticipated to exceed expectations, with management guiding for a single-digit percentage decline in overseas revenue for the August quarter and fiscal year 2026. Non-U.S./U.K. consulting and related services, which account for about 60% of consulting revenue, are expected to grow, partially offsetting declines in the U.S. (double-digit decline) and U.K. (moderate decline) [2] - The K9 business is expected to accelerate again, despite a potential slowdown in revenue growth for the August quarter due to course scheduling adjustments and competition from local small institutions. Growth is expected to resume in the November quarter as these negative factors dissipate [2] - Profit margin resilience is evident, with cost control measures, improved margins in K12 and Dongfang Zhenxuan, and a reduction in losses from the cultural tourism business expected to offset pressure on overseas business profit margins, driving an expansion in non-GAAP operating profit margins for fiscal year 2026 [2]

Core Viewpoint - Bank of America Securities has raised New Oriental's non-GAAP earnings per share forecast for the fiscal years 2026 to 2027 by 4% and 5% respectively, primarily due to a smaller-than-expected decline in overseas business revenue and an improvement in profit margins [1] Summary by Categories - **Earnings Forecast** - The non-GAAP earnings per share forecast for New Oriental for fiscal years 2026 and 2027 has been increased by 4% and 5% respectively [1] - **Revenue and Profitability** - The main reason for the earnings forecast adjustment is the overseas business revenue decline being less than anticipated, along with an increase in profit margins [1] - **Target Price Adjustment** - The target price for New Oriental's H-shares has been raised to 45.4 HKD, and the target price for its US shares has been increased to 58.2 USD [1] - **Investment Rating** - Bank of America Securities has reiterated a "Buy" rating for New Oriental [1] - **Potential Catalysts** - Potential catalysts for the stock include increased shareholder returns, better-than-expected performance in overseas business, a renewed acceleration in K9 business, and resilience in profit margins [1]

Group 1: Hong Kong Stocks - China Metallurgical Group (01618) rose nearly 7%, with institutions stating that the value of this resource-rich construction company needs urgent reassessment [1] - Rongchang Bio (09995) increased over 5%, as its innovative ophthalmic drug RC28 has been submitted for listing, following a partnership with Santen China [1] - Laikang Pharmaceutical-B (02105) surged nearly 6%, with a cumulative increase of 36% over the last three trading days, driven by positive preliminary results from the Phase I clinical MAD study of LAE102 [1] - UBTECH Robotics (09880) rose over 5%, with a report from CMB International recommending UBTECH as the top pick in the humanoid robot sector and raising its target price [1] - Innovent Biologics (09969) increased over 6%, as the company announced the first prescriptions for Tanshitumomab in several provinces [1] - BrainCo-B (06681) surged over 16%, benefiting from policy catalysts in the brain-computer interface industry, with its cognitive impairment digital therapy product having a first-mover advantage [1] - Yaoshi Bang (09885) rose over 10%, with high-margin business accelerating growth and POCT devices expected to see increased deployment in the second half of the year [1] - DCH Holdings (00179) fell over 7%, as Citigroup downgraded its investment rating from "Buy" to "Neutral," citing limited upside potential for the stock [1] - Minmetals Resources (01208) rose over 2%, planning to issue $500 million zero-coupon convertible bonds maturing in 2030 for overseas debt refinancing [1][2] Group 2: US Stocks - Alibaba (BABA.US) rose 4.65%, with Morgan Stanley reiterating an "Overweight" rating and raising the ADR target price from $165 to $200 [3] - Li Auto (LI.US) increased 3.57%, as the Li One officially commenced delivery at the Changzhou smart manufacturing base, with a report indicating that the i6 model's sales performance is expected to outperform the i8 [3] - JD.com (JD.US) rose 0.15%, announcing that the 2025 Double 11 shopping festival will start on October 9 at 8 PM, two days earlier than last year [3] - Xpeng Motors (XPEV.US) increased 1.76%, with the company announcing that the Xpeng MONA M03 has delivered a total of 180,000 units [3] - New Oriental (EDU.US) rose 4.38%, with a report indicating that the overall business development of the group is stabilizing [3] - Merus (MRUS.US) surged 35.97%, following an agreement with Danish biotech company Genmab for a cash acquisition at $97 per share [3] - Novo Nordisk (NVO.US) fell 0.20%, as Morgan Stanley downgraded its rating to "Sell" and reduced the target price from $99 to $47 [4] - MoonLake (MLTX.US) plummeted 89.93%, with trial results for its therapeutic drug falling far below expectations, leading to a significant target price cut by RBC [4] - TSMC (TSM.US) fell 0.05%, reaffirming that it has not engaged in discussions regarding potential investments or collaborations with any companies [4] - Micron Technology (MU.US) rose 4.22%, with Morgan Stanley predicting that the storage industry price increase cycle may continue into next year [4]

Group 1: U.S. Film Industry and Tariff Policy - President Trump stated that the U.S. film industry is being "stolen" by other countries and announced a proposal to impose a 100% tariff on films produced outside the U.S. [1] - The announcement led to a decline in stock prices for major companies like Netflix and Warner Bros. [1] Group 2: U.S. Government Funding and Potential Shutdown - The U.S. government is facing a funding deadline, with both parties in Congress showing significant disagreement on budget negotiations [2][5] - If an agreement is not reached by the deadline, the government will run out of funds, leading to potential furloughs for hundreds of thousands of workers and the shutdown of many public services [6] Group 3: Market Reactions and Economic Indicators - U.S. stock markets saw a collective rise, with the Dow Jones increasing by 0.15%, the S&P 500 by 0.26%, and the Nasdaq by 0.48% [8] - The technology sector showed mixed results, with Nvidia rising by 2.07% and Apple falling by 0.4% [10] - The copper and metals sector experienced significant gains, with Hudbay Minerals rising by 7.42% [13] Group 4: International Commodity Prices - International gold prices surged, with COMEX gold futures rising by 1.42% to $3862.9 per ounce, while oil prices fell, with WTI crude oil futures dropping by 3.45% to $63.45 per barrel [16]