Financial Performance - For the fourth quarter of fiscal year 2025, net revenue increased by 9.4% year-over-year to $1,243.2 million, while net revenue excluding self-operated products and live e-commerce business rose by 18.7% to $1,088.5 million[6][7]. - The operating loss for the fourth quarter was $8.7 million, compared to an operating profit of $10.5 million in the same quarter last year, marking a decline of 182.4%[6][7]. - The net profit attributable to New Oriental shareholders decreased by 73.7% year-over-year to $7.1 million[7]. - Non-GAAP operating profit for the fourth quarter was $81.7 million, a significant increase of 116.3% compared to $37.8 million in the previous year[6][7]. - For the full fiscal year 2025, net revenue reached $4,900.3 million, representing a 13.6% increase from $4,313.6 million in fiscal year 2024[8]. - The operating profit for the full fiscal year was $428.3 million, up 22.2% from $350.4 million in the previous year[8]. - The net profit attributable to New Oriental shareholders for the full fiscal year increased by 20.1% to $371.7 million[8]. - The Non-GAAP net profit attributable to New Oriental shareholders for FY2025 was $517.1 million, reflecting an 11.4% year-over-year increase[24]. - Basic earnings per American Depositary Share (ADS) was $2.29, up from $1.87 in 2024, reflecting a 22.5% increase[50]. Revenue Growth - The company reported a 32.5% year-over-year revenue growth in new educational businesses during the fourth quarter[10]. - For Q4 FY2025, the net revenue of New Oriental was $1,243.2 million, representing a year-over-year increase of 9.4%. Excluding the revenue from self-operated products and live e-commerce, the net revenue was $1,088.5 million, up 18.7% year-over-year[14]. - For the full FY2026, New Oriental projects net revenue between $5,145.3 million and $5,390.3 million, with a year-over-year growth rate of 5% to 10%[25]. Operating Expenses and Cash Flow - The total operating expenses for the quarter were $1,251.8 million, reflecting an 11.2% year-over-year increase[15]. - The net cash flow from operating activities for Q4 FY2025 was approximately $399.1 million, with capital expenditures of $65.9 million[21]. - Cash generated from operating activities was $896,592, down from $1,122,643 in 2024, indicating a decrease of 20.2%[54]. - Operating cash flow for the three months ended May 31, 2025, was $399,122, an increase of 5.9% from $376,835 for the same period in 2024[46]. Assets and Liabilities - Total assets as of May 31, 2025, were $7,805,499, an increase of 3.6% from $7,531,673 as of May 31, 2024[38]. - Total liabilities as of May 31, 2025, were $3,851,767, an increase of 10.6% from $3,482,659 as of May 31, 2024[38]. - Cash and cash equivalents as of May 31, 2025, were $1,612,379, an increase of 16.1% from $1,389,359 as of May 31, 2024[37]. - Cash and cash equivalents at the end of the period increased to $1,817,133 from $1,589,104 in 2024, showing a growth of 14.3%[54]. Future Outlook - New Oriental expects Q1 FY2026 net revenue to be between $1,464.1 million and $1,507.2 million, representing a year-over-year increase of 2% to 5%[25]. - The revenue outlook reflects New Oriental's current perspective and may be adjusted based on future currency exchange rates[25]. Shareholder Returns - The board approved a share repurchase plan extending to May 31, 2025, with a total repurchase value increased to $700 million, having repurchased approximately 14.5 million ADS[12]. - The company plans to return at least 50% of its net profit attributable to shareholders in the form of dividends and/or share repurchases starting in FY2026[13]. Goodwill Impairment - The company reported a goodwill impairment of $60,299 for the three months ended May 31, 2025[40]. - The company reported a goodwill impairment of $60,299, which was not present in the previous year[48].
新东方(09901) - 2025 - 年度业绩