New Oriental Signed a Contract with the Employment and Career Development Research Center for Normal Students

New Oriental Prepares for a Secondary Listing in Hong Kong

Another rumor suggesting that the edtech giant is edging towards a secondary listing in Hong Kong has been circulating in the Chinese media today. It is said that the company is looking to raise around USD 1 billion from the IPO. New Oriental chose not to comment on the matter upon being asked by Chinese media channel TechWeb. This is not the first time that New Oriental has been rumored to be preparing to go to Hong Kong for a second listing. As early as early June, we reported that New Oriental and TAL, two of China's US-listed edtech veterans, were each considering a secondary listing in Hong Kong. New Oriental's financial results for the fourth quarter of the fiscal year 2020 and the full year as of May 31, 2020, show that the firm's net income in the fourth quarter of the fiscal year 2020 was around USD 798 million, a year-on-year decrease of 5.3% with a net profit of USD 13.2 million, a year-on-year decrease of 69.5%. New Oriental's full-year net income for the fiscal year 2020 was approximately USD 3.579 billion, a year-on-year increase of 15.6% with a net profit of USD 413 million – up 73.6% year-on-year.

GSX Techedu's Market Value Exceeds that of New Oriental

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.

New Oriental Online Worth HKD 40 Billion as Shares Continue to Rise

New Oriental Splits Adult Training Business

GSX Techedu Shares Break Previous Records

GSX Received the Tenth Short-Selling Report from Scorpio VC, Who Claims that the Former Falsified Revenue through VAT

New Oriental Comments on the Trend of Studying Abroad in a Complex International Context

TAL Cooperates with Alibaba Cloud

Owl Ventures Leads Lele's USD 40 Million Financing

Midea Group: The Repurchase Price Does Not Exceed CNY 75 Per Share

Midea to Release Home Appliances Equipped with Harmony OS

Haier Smart Home Submits a Listing Application to HKEX

Gome Appoints Xiang Hailong as Executive Vice President of Gome Retail Holdings

Online Children's Education Company iHuman to Go Public on NYSE

SUNMnet Closes CNY 100 Mn Plus Series B1 Round

Revenue in Home Appliance Industry Down 12% from January to July

GSX Techedu Reports 2Q 2020 Earnings