留学市场变数增多，相关业务收入增速放缓，新东方寻增量挖掘“银发留学”潜力

Group 1 - The study abroad industry is facing challenges due to changes in the global economic environment and educational competition, leading to a cautious approach from families regarding overseas education, resulting in a slowdown in the growth of outbound students [2] - New Oriental's revenue from overseas exam preparation and consulting services grew by approximately 7.1% and 21.4% year-on-year for Q3 of FY2025, but both business segments experienced a decline in growth rate compared to previous periods [2][5] - The report indicates a shift in study abroad destinations, with the UK surpassing the US in popularity among Chinese students due to its shorter academic programs and stable political environment [3] Group 2 - The demand for study abroad is diversifying, with students increasingly focusing on employment outcomes rather than merely enhancing their resumes, particularly among master's and doctoral candidates [4] - Engineering, economics, and management are the top three preferred fields of study for prospective international students, with a slight increase in the proportion of students choosing engineering disciplines [4] - The study abroad market is entering a period of slow growth, with a noticeable decrease in the total number of international students being admitted to traditional destinations like the US, UK, Australia, and Canada [5] Group 3 - New Oriental is expanding its study abroad services to cater to different age groups, including the growing market for "silver-haired" students, who are retirees seeking short-term study opportunities abroad [6] - The company is also exploring the potential for inbound international students, as the quality of Chinese education continues to rise, attracting students from Southeast Asia [6] - The value of studying abroad remains significant, with returnees playing a crucial role in the Chinese job market, particularly in enterprises that require professionals with a global perspective [6]