Financial Performance - For the fourth quarter of fiscal year 2024, net revenue increased by 32.1% year-over-year to $1,136.7 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 $27.0 million[3]. - For the full fiscal year 2024, net revenue was $4,313.6 million, representing a 43.9% increase from $2,997.8 million in fiscal year 2023[5]. - Full year operating profit increased by 84.4% to $350.4 million compared to $190.0 million in the previous year[5]. - The company reported a total current asset value of $5.39 billion, up from $4.41 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 $2,997,760 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 $190,046 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 $177,341 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 $1,254.7 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 $1,126.2 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, an increase of 38.7% from $812,517 in the same period of 2023[25]. - The total operating expenses, excluding stock-based compensation, were $3,840,703,000 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 $10.5 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 $2,065.6 million[14]. - Cash and cash equivalents decreased to $1.39 billion from $1.66 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 $6.39 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 $971,008,000 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 $296.1 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 $0.18 for the same period in 2023[28]. - Basic earnings per American Depositary Share (ADS) increased to $2.30 for the period, compared to $1.54 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].
新东方-S(09901) - 2024 - 年度业绩