GSX Techedu Shares Break Previous Records
The NYSE-listed Chinese education firm is now valued over USD 13 billion. The shares of the firm reached USD 57.81 on Tuesday which is the highest since its listing in June 2019.
Source: Yahoo finance
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TAL Goes from Loss to Profit in Q1 of Fiscal Year 2021
According to the report, TAL has generated a revenue of USD 910.7 million, a YoY increase of 35.2% that exceeded previous expectations of USD 875-896 million.
Meanwhile, TAL's operating profit for the quarter was USD 35.5 million, a YoY decrease of 26.8% and a net profit of USD 81.7 million.
With revenue exceeding USD 900 million in a single quarter, and the growth rate returning to more than 30%, TAL has set a record compared to its previous quarters.
Luo Rong, Chief Financial Officer of the company, said, "The performance growth in the first quarter was mainly driven by the business of Xueersi, maintaining healthy growth." He further added, "Offline businesses are still under pressure due to the epidemic, but as China has made progress in the fight against it, we are gradually resuming various offline businesses within the scope permitted by the state."
New Oriental Generates a Staggering USD 3.6 Billion in Net Income
New Oriental’s full-year net income for the fiscal year 2020 was approximately USD 3.579 billion, a YoY increase of 15.6% and an operating profit of USD399 million, a YoY increase of 30.6%. Net profit attributable to New Oriental was USD 413 million, which is a significant YoY of 73.6%.
The financial report shows that net income in the fourth quarter of fiscal 2020 was over USD 798 million, a YoY decrease of 5.3%; operating profit was USD 10.3 million, a YoY decrease of 86.7%. Net profit attributable to the company was USD 13.2 million, a decrease of 69.5% YoY.
According to statistics, the number of student registrations in the fourth quarter of New Oriental's 2020 fiscal year was approximately 2,585,600, a decrease of 6.2% YoY. As of May 31, 2020, the total number of schools and learning centers reached 1,465, a net increase of 211 compared with the same period last year (the total number of learning centers in 2019 was 1,254), and a net increase of 49 compared with the previous quarter.
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GSX Techedu Touches USD 20 Billion Valuation
GSX Techedu stock closed trading at USD 78.22 as of Wednesday, July 8, an increase of USD 9.16, or 13.17% from the previous closing price of USD 69.06. The stock traded between USD 69.84 and USD 83.13, pushing the total market value to a staggering USD 18.672 billion.
The market value is increasing by each day, even after being shorted 11 times by research firms such as Muddy Waters, Citron Research, Grizzly Research and Scorpio VC. The latest report was published by EducationEquity – research based on Grizzly Research’s’ open-source data, saying GSX gave their explanations about some of the short-seller questions, but always evading the important subject under discussion, and giving many false and misleading responses.
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