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新东方-S(09901) - 2024 - 年度业绩
09901NEW ORIENTAL(09901)2024-07-31 09:21

Financial Performance - For the fourth quarter of fiscal year 2024, net revenue increased by 32.1% year-over-year to 1,136.7million[3].Operatingprofitforthefourthquarterdecreasedby78.11,136.7 million[3]. - Operating profit for the fourth quarter decreased by 78.1% year-over-year to 10.5 million[3]. - Net profit attributable to New Oriental shareholders for the fourth quarter decreased by 6.9% year-over-year to 27.0million[3].Forthefullfiscalyear2024,netrevenuewas27.0 million[3]. - For the full fiscal year 2024, net revenue was 4,313.6 million, representing a 43.9% increase from 2,997.8millioninfiscalyear2023[5].Fullyearoperatingprofitincreasedby84.42,997.8 million in fiscal year 2023[5]. - Full year operating profit increased by 84.4% to 350.4 million compared to 190.0millioninthepreviousyear[5].Thecompanyreportedatotalcurrentassetvalueof190.0 million in the previous year[5]. - The company reported a total current asset value of 5.39 billion, up from 4.41billion,markinganincreaseofapproximately22.24.41 billion, marking an increase of approximately 22.2%[23]. - For the fiscal year ended May 31, 2024, net revenue was 4,313,586, an increase of 43.8% from 2,997,760inthefiscalyear2023[31].OperatingprofitforthefiscalyearendedMay31,2024,was2,997,760 in the fiscal year 2023[31]. - Operating profit for the fiscal year ended May 31, 2024, was 350,425, an increase of 84.5% compared to 190,046inthefiscalyear2023[31].NetprofitattributabletoshareholdersforthefiscalyearendedMay31,2024,was190,046 in the fiscal year 2023[31]. - Net profit attributable to shareholders for the fiscal year ended May 31, 2024, was 309,591, an increase of 74.5% from 177,341inthefiscalyear2023[31].RevenueGrowthThecompanyreporteda50.3177,341 in the fiscal year 2023[31]. Revenue Growth - The company reported a 50.3% year-over-year revenue growth in its new education businesses during the fourth quarter[8]. - In Q4 FY2024, the company's net revenue was 1,136.7 million, a year-over-year increase of 32.1% driven by new educational services and the growth of self-operated products and live e-commerce business[11]. - The company expects Q1 FY2025 net revenue (excluding live e-commerce business) to be between 1,254.7millionand1,254.7 million and 1,283.5 million, reflecting a year-over-year growth rate of 31% to 34%[17]. Operating Expenses - Operating costs and expenses for the quarter were 1,126.2million,ayearoveryearincreaseof38.61,126.2 million, a year-over-year increase of 38.6%, with Non-GAAP operating costs rising 40.7% to 1,100.4 million[12]. - Total operating expenses for the three months ended May 31, 2024, were 1,126,152,anincreaseof38.71,126,152, an increase of 38.7% from 812,517 in the same period of 2023[25]. - The total operating expenses, excluding stock-based compensation, were 3,840,703,000fortheperiod,upfrom3,840,703,000 for the period, up from 2,717,926,000 in 2023, indicating a rise of 41.2%[33]. Profit Margins - The company's GAAP operating profit margin for the quarter was 0.9%, while the Non-GAAP operating profit margin was 3.2%[8]. - The company's operating profit for the quarter was 10.5million,adeclineof78.110.5 million, a decline of 78.1% year-over-year, resulting in an operating profit margin of 0.9% compared to 5.6% in the same quarter last year[12]. - The non-GAAP operating profit margin improved to 11.0% for the period ending May 31, 2024, up from 9.3% in the previous year[33]. Cash and Assets - Cash and cash equivalents as of May 31, 2024, were 1,389.4 million, with short-term investments amounting to 2,065.6million[14].Cashandcashequivalentsdecreasedto2,065.6 million[14]. - Cash and cash equivalents decreased to 1.39 billion from 1.66billion,adeclineofabout16.41.66 billion, a decline of about 16.4% year-over-year[23]. - As of May 31, 2024, total assets amounted to 7.53 billion, an increase from 6.39billionasofMay31,2023,representingagrowthofapproximately17.76.39 billion as of May 31, 2023, representing a growth of approximately 17.7%[23][24]. - The company reported a net cash provided by operating activities of 1,122,643,000 for the period, compared to 971,008,000in2023,anincreaseof15.6971,008,000 in 2023, an increase of 15.6%[36]. Shareholder Returns - The company has authorized a share repurchase plan of up to 400 million, with approximately 7.3 million ADS repurchased for about 296.1millionasofJuly30,2024[10].BasicanddilutedearningsperAmericanDepositaryShare(ADS)forthethreemonthsendedMay31,2024,were296.1 million as of July 30, 2024[10]. - Basic and diluted earnings per American Depositary Share (ADS) for the three months ended May 31, 2024, were 0.16, compared to 0.18forthesameperiodin2023[28].BasicearningsperAmericanDepositaryShare(ADS)increasedto0.18 for the same period in 2023[28]. - Basic earnings per American Depositary Share (ADS) increased to 2.30 for the period, compared to 1.54in2023,representingagrowthof49.41.54 in 2023, representing a growth of 49.4%[34]. User Growth - The number of active paying users for the smart learning system reached 188,000 in the fourth quarter[8]. - Total number of schools and learning centers increased to 1,025, up from 911 in the previous quarter and 748 a year ago[7]. Deferred Revenue - The deferred revenue balance at the end of Q4 FY2024 was 1,780.1 million, a 33.1% increase from $1,337.6 million at the end of Q4 FY2023[14].