NEW ORIENTAL(EDU) - 2022 Q3 - Quarterly Report

Financial Performance - Total net revenues for the six months ended November 30, 2021, were $1,967,132, representing an increase from $1,874,055 for the same period in 2020, a growth of approximately 5%[4] - Operating loss for the six months ended November 30, 2021, was $(735,670), compared to an operating income of $118,158 for the same period in 2020[4] - Net loss attributable to New Oriental Education & Technology Group Inc. for the six months ended November 30, 2021, was $(875,980), a significant decline from a net income of $228,554 in the same period of 2020[4] - The total operating costs and expenses for the six months ended November 30, 2021, were $2,702,802, significantly higher than $1,755,897 for the same period in 2020, an increase of approximately 53.8%[4] Assets and Liabilities - Total current assets decreased to $5,154,963 as of November 30, 2021, down from $6,574,155 as of May 31, 2021, a decline of approximately 21.5%[2] - Cash and cash equivalents decreased to $1,026,912 as of November 30, 2021, compared to $1,612,211 as of May 31, 2021, a decrease of about 36.2%[2] - Total liabilities as of November 30, 2021, were $5,132,877, down from $3,433,761 as of May 31, 2021, indicating a significant increase in liabilities[3] - Total equity decreased to $4,180,551 as of November 30, 2021, from $5,018,176 as of May 31, 2021, reflecting a decline of approximately 16.7%[3] Cash Flow - The company reported a net cash used in operating activities of $(1,074,835) for the six months ended November 30, 2021, compared to net cash provided by operating activities of $802,276 for the same period in 2020[6] - The company had a net cash provided by investing activities of $653,374 for the six months ended November 30, 2021, contrasting with net cash used in investing activities of $(796,800) for the same period in 2020[6]