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20-F: FY2024 Annual Report

20-F: FY2024 Annual Report

20-F：2024财年年报
美股SEC公告 ·  09/25 06:42
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New Oriental, a leading provider of private educational services in China, reported a significant increase in total net revenues, rising by 43.9% from US$2,997.8 million in the fiscal year ended May 31, 2023, to US$4,313.6 million in the fiscal year ended May 31, 2024. This growth was attributed to the expansion in new educational business initiatives and the success of East Buy's private label products and livestreaming e-commerce platform. Net service revenues saw a 37.6% increase, while net product revenues surged by 79.4%. Operating costs and expenses also rose by 41.2%, in line with revenue growth and expansion efforts. The company's net income improved by 38.2%, reaching US$325.2 million. New Oriental's financial position remains strong with US$1,389.4 million in cash and cash equivalents as of...Show More
New Oriental, a leading provider of private educational services in China, reported a significant increase in total net revenues, rising by 43.9% from US$2,997.8 million in the fiscal year ended May 31, 2023, to US$4,313.6 million in the fiscal year ended May 31, 2024. This growth was attributed to the expansion in new educational business initiatives and the success of East Buy's private label products and livestreaming e-commerce platform. Net service revenues saw a 37.6% increase, while net product revenues surged by 79.4%. Operating costs and expenses also rose by 41.2%, in line with revenue growth and expansion efforts. The company's net income improved by 38.2%, reaching US$325.2 million. New Oriental's financial position remains strong with US$1,389.4 million in cash and cash equivalents as of May 31, 2024. The company's strategic shift following regulatory changes in China's education sector, including the cessation of K-9 Academic AST Services, has led to a focus on non-academic tutoring and other educational services. Looking ahead, New Oriental plans to continue investing in technology and systems to enhance the learning experience and operational efficiency.
新东方是中国领先的私人教育服务提供商，报告显示，截至2023年5月31日的财政年度，总营业收入大幅增长43.9%，从2,997.8万美元增至2024年5月31日财政年度的431,360.0000000001万美元。这一增长归因于新教育业务举措的扩张以及东方甄选的私人品牌产品和直播电子商务平台的成功。服务净收入增长37.6%，产品净收入激增79.4%。营运成本和费用也增长了41.2%，与收入增长和扩张努力保持一致。公司净利润提升了38.2%，达到3,252.0万美元。截至2024年5月31日，新东方的现金及现金等价物为1,389.4万美元，财务状况依然强劲。公司在中国教育板块的监管变化后进行战略转变，包括停止K-9 Academic ASt服务，转而专注于非学术辅导和其他教育服务。展望未来，新东方计划继续投资科技和系统，以增强学习体验和运营效率。
新东方是中国领先的私人教育服务提供商，报告显示，截至2023年5月31日的财政年度，总营业收入大幅增长43.9%，从2,997.8万美元增至2024年5月31日财政年度的431,360.0000000001万美元。这一增长归因于新教育业务举措的扩张以及东方甄选的私人品牌产品和直播电子商务平台的成功。服务净收入增长37.6%，产品净收入激增79.4%。营运成本和费用也增长了41.2%，与收入增长和扩张努力保持一致。公司净利润提升了38.2%，达到3,252.0万美元。截至2024年5月31日，新东方的现金及现金等价物为1,389.4万美元，财务状况依然强劲。公司在中国教育板块的监管变化后进行战略转变，包括停止K-9 Academic ASt服务，转而专注于非学术辅导和其他教育服务。展望未来，新东方计划继续投资科技和系统，以增强学习体验和运营效率。
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