Core Viewpoint - New Oriental (EDU.US) reported a strong performance in FY2025 Q4, with total net revenue reaching $1.24 billion, reflecting a year-over-year growth of 9.4% [1] Financial Performance - Total net revenue for FY2025 Q4 was $1.24 billion, up 9.4% year-over-year [1] - Excluding self-operated products and live e-commerce from Dongfang Zhenxuan, total revenue was $1.09 billion, showing an 18.7% year-over-year increase [1] Business Outlook - Dongwu Securities' latest report indicates that the company's core business is growing steadily, and operational efficiency is continuously improving [1] - The normalized shareholder return mechanism is expected to create long-term value for shareholders [1]

Investment Rating - The report maintains a "Buy" rating for New Oriental-S (09901.HK) [1][3] Core Insights - The company's core business profitability is improving, and a new shareholder return plan demonstrates confidence in future performance [1][3] - The report adjusts the Non-GAAP net profit forecasts for FY2026 and FY2027 down to $580 million and $630 million respectively, with an expectation of $690 million for FY2028 [3] - The current stock price corresponds to a PE ratio (Non-GAAP) of 12, 11, and 10 times for FY2026 to FY2028 [3] Financial Performance Summary - FY2025Q4 total net revenue reached $1.24 billion, a year-on-year increase of 9.4%, while excluding self-operated products and live e-commerce, total revenue was $1.09 billion, up 18.7% year-on-year [8] - The operating cash inflow for FY2025Q4 was $399 million, with capital expenditures of $65.9 million [8] - The company expects a 2% to 5% year-on-year growth in net revenue for FY26Q1 and a 5% to 10% growth for FY2026 [8] - The core business showed robust performance, with revenue from overseas exam preparation and consulting growing by 14.6% and 8.2% respectively, and domestic exam preparation for adults and college students increasing by approximately 17.0% [8] - Non-GAAP net profit for FY2025Q4 was $98.08 million, a year-on-year increase of 59.4%, indicating significant improvement in core education business profitability [8] Financial Forecasts - Total revenue projections for FY2024A to FY2028E are $4.314 billion, $4.900 billion, $5.372 billion, $5.854 billion, and $6.277 billion respectively, with year-on-year growth rates of 43.89%, 13.60%, 9.63%, 8.96%, and 7.24% [1][9] - The forecasted Non-GAAP net profits for FY2024A to FY2028E are $464 million, $517 million, $577 million, $632 million, and $685 million, with growth rates of 79.15%, 11.44%, 11.57%, 9.60%, and 8.38% respectively [1][9] - The report highlights a significant increase in operating profit for Non-GAAP, which is projected to reach $688.83 million by FY2028 [9]

Core Viewpoint - New Oriental's financial report for the fourth quarter and full year of fiscal year 2025 shows a revenue increase but a significant decline in net profit due to goodwill impairment [2][7]. Financial Performance - For the fourth quarter of fiscal year 2025, revenue was $1.243 billion, a year-on-year increase of 9.4%, while net profit was $7.1 million, down 73.7% [2][3]. - Excluding the Oriental Selection business, the fourth quarter revenue was $1.089 billion, up 18.7% year-on-year [2]. - For the entire fiscal year 2025, revenue reached $4.9 billion, a 13.6% increase, and net profit was $371.7 million, up 20.1% [3]. Business Segments - The overseas examination preparation and consulting businesses saw revenue growth of approximately 14.6% and 8.2% respectively in the fourth quarter [4]. - The growth rate of the overseas study business has slowed compared to previous quarters, with earlier growth rates of 18.8%, 21.1%, and 7.1% [5]. - New Oriental's new education business grew by 32.5% in the fourth quarter, with non-subject tutoring services expanding to nearly 60 cities [5]. Cost and Impairment - The significant drop in net profit was primarily due to a $60.3 million goodwill impairment related to kindergarten acquisitions made 8-10 years ago [7]. - Operating costs and expenses for the fourth quarter were $1.252 billion, an 11.2% increase year-on-year, with stock-based compensation expenses rising by 11% to $28.6 million [7]. Future Guidance - New Oriental expects a revenue growth rate of 2%-5% for the first quarter of fiscal year 2026 and 5%-10% for the entire fiscal year [7]. - The company has adjusted its business guidance to include the Oriental Selection business, which has undergone restructuring [8].

Core Viewpoint - New Oriental's financial report for the fourth quarter and full year of fiscal year 2025 shows a revenue increase but a significant decline in net profit due to goodwill impairment, indicating challenges in certain business segments and a strategic shift towards AI investments and new educational solutions [1][3][6]. Financial Performance - For the fourth quarter of fiscal year 2025, revenue reached $1.243 billion, a year-on-year increase of 9.4%, while net profit was $7.1 million, down 73.7% due to a $60.3 million goodwill impairment [1][2]. - Excluding the Oriental Selection business, the fourth quarter revenue was $1.089 billion, reflecting an 18.7% year-on-year growth [1]. - For the entire fiscal year 2025, total revenue was $4.9 billion, up 13.6%, and net profit was $371.7 million, a 20.1% increase [2]. Business Segment Performance - The overseas study preparation and consulting businesses saw revenue growth of approximately 14.6% and 8.2%, respectively, although growth rates have slowed compared to previous quarters [3]. - The new education business experienced a 32.5% revenue increase, with significant engagement in non-subject tutoring across 60 cities [3][4]. - The cultural tourism business reported a 71% revenue growth, driven by domestic and international study tours [4][5]. Cost and Impairment Issues - The significant drop in net profit was primarily attributed to a $60.3 million goodwill impairment related to past acquisitions of kindergartens, reflecting changes in policy and market conditions [6]. - Operating costs and expenses for the fourth quarter were $1.252 billion, up 11.2%, with stock-based compensation expenses increasing by 11% to $28.6 million [6]. Future Guidance - The company anticipates a revenue growth rate of 2%-5% for the first quarter of fiscal year 2026 and 5%-10% for the entire fiscal year, indicating a more stable and sustainable growth phase [6][7]. - The guidance now includes the Oriental Selection business, reflecting its operational stabilization after restructuring [7].

36氪获悉，粉笔发布2025年半年度业绩预告，预计上半年营收不少于人民币14.72亿元，净利润不少于 2.15亿元，经调整净利润不少于2.60亿元。 大公司： 丰立智能：上半年归母净利润322.44万元，同比下降68.79% 36氪获悉，丰立智能公告，公司上半年实现营业收入2.42亿元，同比增长0.25%；归属于上市公司股东 的净利润322.44万元，同比下降68.79%；基本每股收益0.03元。 瑞可达：人形机器人产品现已开始小批量供货，预计2025年销售收入约1000万 36氪获悉，瑞可达公告，近期有媒体关注到公司有应用于人形机器人的产品，已小批量供货中。截至目 前，公司人形机器人产品经过前期的研发，现已开始小批量供货，预计2025年该业务板块的销售收入约 1000万，占2024年营业收入比例为0.41%，由于目前尚处于产业初期，在公司的实际业绩中占比较小， 该业务板块当年实现的销售收入尚存在不确定性。 滴滴顺风车联合上海闵行警方，打击多款顺风车外挂 36氪获悉，今年5月，闵行公安分局新镇派出所接到滴滴报案称，有黑产利用外挂软件帮助顺风车车主 快速抢到订单，严重破坏了顺风车抢单的公平性和交易秩序。近日，近 ...

证券日报网讯 8月4日晚间，学大教育发布公告称，截至2025年7月31日，公司通过回购专用证券账户以 集中竞价交易方式累计回购公司股份数量为2，171，301股，占公司目前总股本的1.78%。 （编辑 任世碧） ...

Group 1 - The core point of the article is that Xueda Education announced a share buyback plan, having repurchased approximately 2.17 million shares, which accounts for 1.78% of the total share capital, with a total expenditure of about 111 million yuan [2] - The highest transaction price during the buyback was 54.94 yuan per share, while the lowest was approximately 48.50 yuan per share [2] - For the fiscal year 2024, the revenue composition of Xueda Education is as follows: education training service fees account for 96.83%, other businesses for 3.01%, equipment leasing for 0.14%, and property leasing for 0.02% [2]

格隆汇8月4日丨学大教育(000526.SZ)公布，截至2025年7月31日，公司通过回购专用证券账户以集中竞 价交易方式累计回购公司股份数量为2,171,301股，占公司目前总股本的1.78%，其中最高成交价为 54.940元/股，最低成交价为48.499元/股，支付总金额为1.11亿元(不含交易费用)。 ...

Group 1: Conference Overview - The RISE conference held in Shenzhen focused on educational innovation and industrial upgrading, emphasizing the cultivation of composite talents for future needs [1] - Experts from various sectors discussed the importance of integrating local cultural heritage, technological thinking, and international perspectives in talent development [1] Group 2: Educational Practices - Shenzhen Foreign Language School's approach includes respecting individual differences and optimizing the education system to promote diverse development [2] - The school offers six foreign language courses and engages in international exchanges to enhance students' global perspectives and cross-cultural communication skills [2] Group 3: Industry Needs - The life sciences sector requires innovative talents with interdisciplinary skills, including data analysis, engineering thinking, and continuous learning capabilities [3] - The emphasis on "comprehensive abilities" is crucial for addressing complex biomedical challenges, highlighting the need for critical thinking and teamwork [3] Group 4: Educational Trends - 瑞思教育 has served over 1 million children and families since its inception, focusing on developing both personal and social competencies essential for success in the AI era [4] - The organization aims to shape future students' key abilities through project-based learning, aligning education with the demands of the evolving job market [4] Group 5: Future Expectations - The conference provided a platform for sharing theoretical and practical experiences in cultivating children's comprehensive abilities, aiming to foster educational innovation and industrial synergy in Shenzhen [4] - Participants expressed the hope that Shenzhen will continue to leverage its urban advantages to explore educational innovations and develop talents that meet the demands of the times [4]

在高考逐梦的赛道上，总有一群学子，距离清北之门仅差临门一脚，却因资源、指导的缺失，难以跨越 最后沟壑。今日，秒题星正式推出"全额赞助2026届100名高考学子上清北"计划，以专业助力与全额支 持，为潜力学子铺就冲刺清北的通途。 三维赋能体系，构筑冲刺核心支撑 当前成绩距清北线差距在50分以内，且在高一、高二的期中和期末考试中展现出稳定实力与冲刺潜力的 学子，可申请参与本计划。这并非简单的分数筛选，而是致力于挖掘"差一步即可触达清北"的苗子—— 他们具备扎实基础与强劲冲劲，所欠缺的正是专业助力。秒题星愿成为这股助力，陪伴100人从"有潜 力"蜕变为"有实力"。 教育温度，点亮逐梦灯塔 教育的本质是点亮，秒题星以全额资助为灯，照亮100人冲刺清北的道路。这并非商业噱头，而是一群 深耕高考领域的教育者，对"让更多人触摸顶尖学府"的执着追求。我们坚信，每一个接近清北的潜力学 子，都值得被托举;每一份向上的冲劲，都应得到专业赋能。 即日起，符合上述条件的孩子可申请本计划。让我们以专业为刃突破知识壁垒，以资助为基筑牢冲刺底 气，共同向清北之门发起冲击!未来，秒题星也将持续深耕高考赋能领域，让更多逐梦故事在专业助力 中绽放 ...