Core Viewpoint - Guosheng Securities reports that New Oriental Education's business fundamentals are stable, with positive guidance on K12 education business and profit margins starting from Q2 [1] Financial Performance - For FY2026 Q1 (June 1, 2025 - August 31, 2025), the company achieved net revenue of $1.523 billion, a year-over-year increase of 6.1%, exceeding the previous quarter's guidance of $1.464 to $1.507 billion [1] - Operating profit for the same period was $311 million, reflecting a year-over-year increase of 6.0% [1] - The net profit attributable to shareholders was $241 million, a year-over-year decrease of 1.9%, while Non-GAAP net profit attributable to shareholders was $258 million, a decrease of 1.6% [1] Future Outlook - The company has adjusted its profit forecast, expecting Non-GAAP net profit attributable to shareholders to reach $568 million, $642 million, and $707 million for FY2026-2028, representing year-over-year growth of 9.7%, 13.2%, and 10.0% respectively [1] - Starting from FY26, the company plans to allocate no less than 50% of its net profit attributable to shareholders for shareholder returns, as part of a three-year shareholder return plan [1] Shareholder Returns - On July 29, the company announced a plan to distribute approximately $190 million in cash dividends and approved a share repurchase plan of up to $300 million within the next 12 months [1]