Core Insights - New Oriental Education & Technology Group reported a 2.0% year-on-year decline in net revenue for Q3 2025, amounting to $1.183 billion, while net revenue excluding self-operated products and live e-commerce increased by 21.2% to $1.0383 billion [1] - The operating profit rose by 9.8% year-on-year to $124.5 million, with a 5.0% increase to $125.5 million when excluding losses from self-operated products and live e-commerce [1] - The net profit attributable to shareholders increased by 0.1% to $87.3 million [1] Financial Performance - For the first nine months of FY2025, New Oriental's net revenue reached $3.657 billion, a 15.1% increase year-on-year [1] - Operating profit for the same period was $436.9 million, reflecting a 28.5% year-on-year growth [1] - Net profit attributable to shareholders for the first nine months was $364.6 million, up 29.0% year-on-year [1] Future Guidance - New Oriental expects Q4 FY2025 net revenue (excluding self-operated products and live e-commerce) to be between $1.009 billion and $1.0366 billion, representing a year-on-year growth rate of 10% to 13% [1] - The company anticipates revenue growth in RMB for Q4 FY2025 to be between 12% and 15% [1] Business Segments - The revenue from overseas exam preparation and consulting services grew by approximately 7.1% and 21.4% year-on-year, respectively [2] - Domestic exam preparation services for adults and university students recorded a year-on-year growth of about 17.0% [2] - New educational businesses maintained strong growth, with a revenue increase of 34.5% year-on-year [2] Operational Strategies - The company is focusing on optimizing teaching space and enhancing operational efficiency in line with business growth [2] - New Oriental is advancing its OMO (Online-Merge-Offline) teaching system and increasing investments in AI technology applications in education [2] - The company is developing innovative technologies to support teachers and staff, improving operational efficiency and service satisfaction [2] Profitability Metrics - The GAAP operating profit margin (excluding self-operated products and live e-commerce) for the quarter was 12.1%, down from 14.0% in the same period last year [2] - The Non-GAAP operating profit margin for the quarter was 13.3%, compared to 15.1% in the previous year [2] - The slowdown in overseas business revenue growth and investments in newly integrated cultural tourism businesses have temporarily impacted operating profit [2]

Financial Performance - For the third quarter of fiscal year 2025, net revenue decreased by 2.0% year-over-year to $1,183.1 million, while net revenue excluding self-operated products and live e-commerce increased by 21.2% to $1,038.3 million[9]. - Operating profit for the third quarter increased by 9.8% year-over-year to $124.5 million, with operating profit excluding losses from self-operated products and live e-commerce rising by 5.0% to $125.5 million[9]. - Net profit attributable to New Oriental shareholders for the third quarter rose by 0.1% year-over-year to $87.3 million[9]. - In the first nine months of fiscal year 2025, net revenue increased by 15.1% year-over-year to $3,657.1 million, and operating profit rose by 28.5% to $436.9 million[10]. - The company reported a Non-GAAP operating profit margin of 13.3% for the third quarter, down from 15.1% in the same period last year[12]. - The operating profit for the quarter was $124.5 million, an increase of 9.8% year-over-year, with a Non-GAAP operating profit of $142.1 million, a slight decrease of 0.2%[17]. - The net profit attributable to shareholders for the quarter was $87.3 million, a year-over-year increase of 0.1%, with basic and diluted earnings per ADS of $0.54[20]. - The Non-GAAP net profit attributable to shareholders was $113.3 million, a year-over-year decrease of 14.3%, with Non-GAAP earnings per ADS of $0.70[21]. - For the first nine months of fiscal year 2025, net revenue was $3,657.1 million, a year-over-year increase of 15.1%[24]. - Net revenue for the three months ended February 28, 2025, was $1,183,055, a decrease of 2.1% compared to $1,207,286 for the same period in 2024[42]. - Operating profit increased to $124,519, representing a 9.6% increase from $113,432 in the prior year[42]. - Net profit attributable to shareholders was $87,255, slightly up from $87,167 year-over-year[42]. - For the nine months ended February 28, 2025, net revenue rose to $3,657,107, an increase of 15.1% from $3,176,907 in the previous year[49]. - Operating profit for the nine-month period was $436,924, a 28.5% increase compared to $339,898 in the same period last year[49]. Cash and Assets - As of February 28, 2025, cash and cash equivalents totaled $1,418.8 million, with deferred revenue increasing by 15.0% year-over-year to $1,749.9 million[23]. - As of February 28, 2025, total assets amounted to $7,447.2 million, a decrease from $7,531.7 million as of May 31, 2024[39]. - Total liabilities decreased slightly to $3,471.7 million from $3,482.7 million during the same period[40]. - Shareholders' equity totaled $3,686.2 million, down from $3,775.9 million[40]. - Cash and cash equivalents increased to $1,418.8 million from $1,389.4 million[39]. - Short-term investments decreased to $1,853.6 million from $2,065.6 million[39]. - Cash and cash equivalents at the end of February 28, 2025, were $1,589,277, a decrease from $2,189,074 at the end of February 29, 2024[54]. Operational Efficiency and Strategy - The company is focusing on enhancing product quality and operational efficiency to drive sustainable growth and profitability[12]. - New Oriental is increasing investments in artificial intelligence technology applications in the education sector to improve operational efficiency and service satisfaction[12]. - The company is actively managing the expansion of its school network and executing strategic plans amid regulatory uncertainties in the private education sector in China[34]. - The company is focused on maintaining and enhancing the "New Oriental" brand while ensuring teaching and service quality[34]. - Future outlook includes potential benefits from recent and upcoming acquisitions, despite ongoing litigation risks[34]. Shareholder Returns and Financial Metrics - The total value of the share repurchase plan has been increased to $700 million, with approximately 14.4 million ADS repurchased for a total value of about $695.5 million as of April 22, 2025[13]. - The company reported a net profit excluding stock-based compensation and other adjustments, indicating a focus on Non-GAAP financial metrics[35]. - The company emphasized the importance of Non-GAAP financial indicators for assessing performance and liquidity[36]. - The weighted average shares used for calculating basic net profit per ADS decreased from 1,653,742,514 in 2024 to 1,630,423,658 in 2025, a reduction of approximately 1.4%[52]. - New Oriental's basic net profit per American depositary share (ADS) for the nine months ended February 28, 2025, was $2.24, up from $1.71 for the same period in 2024, representing a 31% increase[52]. - The diluted net profit per ADS under non-GAAP for the nine months ended February 28, 2025, was $2.55, compared to $2.40 for the same period in 2024, reflecting a 6.25% increase[52]. Cash Flow and Expenses - Operating cash flow for the nine months ended February 28, 2025, was $497,470, down from $745,808 in the same period of 2024, indicating a decrease of approximately 33.3%[54]. - Total revenue costs for the nine months ended February 28, 2025, amounted to $31,297, significantly reduced from $96,661 in the same period of 2024, showing a decrease of about 67.6%[52]. - The company reported a significant increase in cash flow from investing activities, which amounted to $79,891, compared to $11,285 in the previous year[47]. - The company experienced a net cash used in financing activities of $(486,494) for the nine months ended February 28, 2025, compared to $(51,208) in the same period of 2024, indicating a substantial increase in cash outflow[54]. - The impact of foreign exchange rate changes resulted in a cash outflow of $(5,667) for the nine months ended February 28, 2025, compared to $(21,041) in the same period of 2024, showing a decrease in negative impact[54].

新东方(09901.HK)2025财年Q3净利润0.873亿美元，去年同期0.872亿美元。 ...

智通财经4月23日电，新东方第三财季净营收11.8亿美元，市场预估12.4亿美元；第三财季调整后每ADS 收益 0.70美元。 ...

Core Viewpoint - New Oriental Education & Technology Group Inc. reported its financial results for the third fiscal quarter of 2025, highlighting a decrease in total net revenues but significant growth in specific educational segments and ongoing strategic initiatives aimed at long-term development and operational efficiency [1][4][9]. Financial Highlights - Total net revenues for the third fiscal quarter were US$1,183.1 million, a decrease of 2.0% year over year. Excluding revenues from East Buy private label products and livestreaming business, revenues increased by 21.2% to US$1,038.3 million [6][9]. - Operating income rose by 9.8% year over year to US$124.5 million. Excluding losses from East Buy, operating income increased by 5.0% to US$125.5 million [6][12]. - Net income attributable to New Oriental was US$87.3 million, reflecting a slight increase of 0.1% year over year [6][14]. Operating Performance - The company experienced a 21.2% year-over-year increase in revenues from its core educational services, with overseas test preparation and study consulting businesses growing by approximately 7.1% and 21.4%, respectively [4][9]. - New educational initiatives saw a revenue growth of 34.5% year over year, with non-academic tutoring courses attracting around 408,000 student enrollments [4][9]. - The operating margin for the quarter was 10.5%, compared to 9.4% in the same period of the prior fiscal year, while the non-GAAP operating margin was 12.0%, up from 11.8% [12][13]. Cash Flow and Balance Sheet - As of February 28, 2025, the company had cash and cash equivalents of US$1,418.8 million, along with US$1,411.7 million in term deposits and US$1,853.6 million in short-term investments [17]. - Net operating cash inflow for the quarter was approximately US$1.0 million, with capital expenditures amounting to US$52.4 million [16]. Share Repurchase Program - The board approved an extension of the Share Repurchase Program, increasing the total authorized repurchase amount from US$400 million to US$700 million, with approximately 14.4 million ADSs repurchased for about US$695.5 million as of April 22, 2025 [8]. Outlook - For the fourth quarter of fiscal year 2025, New Oriental expects total net revenues, excluding East Buy and livestreaming business, to be in the range of US$1,009.1 million to US$1,036.6 million, representing a year-over-year increase of 10% to 13% [25].

各位亲爱的企业家朋友，大家下午好。非常开心来到第十二届智纲智库大会，能有这样一个场合和大家做点分享和交流。 一、人生本自由，月涌大江流 前两个礼拜，我带着新东方的团队在海南岛直播骑行了14天，这现在算是我的一种工作和生活方式，就是把自己喜欢做的事情和工作结合起来。这几十年 我最幸运的事情就是，一直在做我喜欢做的事情，这比你做多少公司、赚多少钱都要更加重要。 我是一个勤奋的人。我在农村从小就开始参与劳动，而且是一个劳动能手。在学习上我也非常勤奋，那个时候农村的孩子是不读书的，所以从我开始认字 到我18岁进入北京大学，我的周边都只有我一个人在读书，而我的父母是不认字的。也不知道老天为什么给了我这样一个喜欢读书的个性，读书确实贯穿 了我到今天为止的人生，也很大程度上改变了我的命运。如果没有读书，我现在也有可能是我们江苏江阴的某个民营企业家，因为我小时候那几个不喜欢 读书的小伙伴，后来也都当了民营企业家。我进入大学之后，一直到大学毕业，再到做新东方，一路都很勤奋，也非常努力，平均每天连工作带应酬、学 习、读书，差不多要十四五个小时左右，从来没有懈怠过。 以上是我一些简单的想法。但今天这个场合下，我也想分享一些我对做企 ...

Core Insights - The article presents the market capitalization rankings of the top 50 Chinese technology and internet companies as of April 21, 2025, highlighting significant players in the industry [1]. Group 1: Market Capitalization Rankings - JD.com ranks 8th with a market capitalization of $504.58 billion [3]. - SMIC (Semiconductor Manufacturing International Corporation) is in 9th place with a market cap of $473.13 billion [3]. - Kuaishou Technology holds the 10th position with a market cap of $277.81 billion [3]. - Li Auto is ranked 12th with a market capitalization of $247.49 billion [3]. - Tencent Music is in 14th place with a market cap of $210.91 billion [3]. Group 2: Additional Notable Companies - Xpeng Motors is ranked 16th with a market cap of $173.41 billion [3]. - NIO is in 21st place with a market capitalization of $79.71 billion [3]. - Bilibili holds the 23rd position with a market cap of $67.76 billion, showing an upward trend [3]. - Vipshop is ranked 27th with a market cap of $64.15 billion [4]. - Kingsoft has a market cap of $62.85 billion, placing it 28th [4]. Group 3: Market Trends - The rankings reflect the competitive landscape of the Chinese technology sector, with significant fluctuations in market capitalizations among the top companies [1]. - The data is calculated based on the daily market values, converted using the current exchange rate between USD and HKD [5].

Group 1 - The Nasdaq Golden Dragon China Index experienced a preliminary decline of 2.6% [1] - Notable declines were observed in popular Chinese concept stocks, with Xiaoma Zhixing down 10%, XPeng and JD.com dropping over 5%, and Alibaba and Xiaomi ADRs falling over 4% [1] - Other companies such as Bilibili, Li Auto, NIO, New Oriental, and Baidu saw declines of at least 2%, while Tencent ADR, Pinduoduo, and Yum China dropped over 1% [1] Group 2 - The Chinese concept ETF YANG increased by 6.6%, while CQQQ and KWEB decreased by 2.1% and 2.8% respectively [1]

Group 1 - The Nasdaq Golden Dragon China Index experienced a preliminary decline of 0.4% [1] - Notable Chinese concept stocks such as Xiaopeng fell over 5.9%, Pony.ai dropped over 3%, while JD.com, Li Auto, Alibaba, NetEase, Bilibili, and Yum China all decreased by more than 1% [1] - NIO saw a slight increase of 0.5%, and New Oriental rose by 3.8% [1] Group 2 - Chinese concept ETFs YINN and DRAG fell by more than 1%, while CQQQ decreased by over 0.9% and KWEB dropped by over 0.6% [1]

Core Viewpoint - New Oriental Education and Technology Group Inc. will report its financial results for the third quarter ended February 28, 2025, on April 23, 2025, before the U.S. market opens [1] Group 1: Financial Reporting - The earnings conference call is scheduled for 8 AM on April 23, 2025, U.S. Eastern Time [1] - Participants can register in advance for the conference call to receive dial-in numbers and a unique personal PIN [2] - A live and archived webcast of the conference call will be available on the company's investor relations website [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]