Consumer Discretionary, Industrials Jan 24, 2022 10:19 PM (GMT+8) · EqualOcean
New Oriental announced on the Hong Kong stock exchange that since the total revenue generated by K-9 discipline training services accounts for about 50% to 60% of the group's total revenue in fiscal years 2020 and 2021 respectively, we expect that the termination of business will have a significant adverse impact on the total revenue for the fiscal year ended May 31, 2022 and subsequent periods. In addition, for the six months ended November 30, 2021, significant costs ("additional costs") were incurred due to the closure of the learning center, termination of the lease agreement and layoffs.

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