EDU240802C88000
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- -0.38-50.67%
New Oriental Newsroom
Brokerage swhy maintains a buy rating for New Oriental (09901), despite the limited negative impact on e-commerce business caused by the departure of top anchor Dong Yuhui.
Swhy's research report states that there has been a personnel change at East Buy, a subsidiary of New Oriental (09901), with the departure of top anchor Dong Yuhui. The bank expects East Buy's revenue to decline to 5.56 billion yuan and 6.13 billion yuan (approximately 0.77 billion US dollars and 0.85 billion US dollars) for 2025 and 2026 respectively. During the same period, profits are expected to decline to 0.129 billion yuan and 0.164 billion yuan (approximately 0.018 billion US dollars and 0.023 billion US dollars). As New Oriental holds 57.04% of East Buy, East Buy's contribution to New Oriental's revenue for fiscal years 2025 and 2026 will decrease by 0.25 billion US dollars and 0.32 billion US dollars respectively.
Hong Kong stocks surged | New Oriental-S (09901) rose more than 4% at the opening. Institutions said the market overreacted to Dong Yuhui's departure. E-commerce business had limited drag on the company.
New Oriental-S (09901) opened up more than 4% and as of press time, it rose 4.64% to HKD 57.5 with a turnover of HKD 6.495 million.
Morgan Stanley: It will not be surprised if East Buy (01797) cannot make profits in the future, but the impact on New Oriental-S (09901) is controllable.
Morgan Stanley may need to remove about 10% of its operating profit and about 5% of its net income from the forecast of Eastbuy (01797).
East Buy Shares Sink After Top Chinese Livestreaming Influencer Departs
Hong Kong stock market fluctuations | New Oriental-S (09901) plunged more than 8% in early trading. Dong Yuhui resigned from East Buy. Institutions said that the drag of e-commerce business is limited.
New Oriental-S (09901) fell more than 8% in early trading. As of the time of publication, it fell 6.96%, with a price of 53.5 Hong Kong dollars and a turnover of 28.2342 million Hong Kong dollars.
Zhitoon Hong Kong Stocks Early Warning | Two departments support the replacement of old home appliances with new ones. New Oriental (EDU.US) fell more than 5%.
The National Development and Reform Commission and the Ministry of Finance jointly issued a notice on several measures to support large-scale equipment renewal and consumer goods replacing the old with the new, aiming to promote equipment renewal and consumer goods replacing the old with the new.
US stock market opening: New Oriental fell about 4%, Ford Motor fell about 14%, and golden industrial concept stocks fell generally.
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Express News | New Oriental's pre-market trading has plunged, now down over 8%. Earlier, Eastbuy announced that well-known host Dong Yuhui had resigned.
East Buy (01797): New Oriental Xunce Network Technology in Beijing intends to sell 100% equity of Huitongxing (Beijing) Technology for CNY 76.5855 million to Dong Yuhui.
East Buy (01797) announced that on July 25, 2024, the buyer Dong Yuhui and the seller New Oriental in Beijing...
China's Top Live-streaming Influencer Dong Yuhui Departs East Buy to Pursue Own Venture
Hong Kong stocks anomaly | New Oriental-S (09901) rose more than 4% and the company will release its performance next Tuesday. Institutions expect a 36.9% year-on-year growth in fourth-quarter revenue.
New Oriental-S (09901) is now up more than 4%, as of press time, up 3.97%, at HKD 57.65, with a turnover of HKD 20.6746 million.
Overnight news: White House raises its 2024 US economic growth and inflation forecasts. CrowdStrike causes the largest IT failure in history. Duff & Phelps says that Biden's withdrawal from the race is unfavorable to the US dollar.
For more global financial information, please visit the 7x24-hour real-time financial news market closing: The Dow fell 370 points, and the S&P index recorded its largest weekly decline in three months. The top 20 US stock transactions on July 19: CrowdStrike caused the largest IT system failure in history. WTI crude oil fell 3.3%, and investors focused on the Gaza ceasefire hopes. Popular Chinese concept stocks rose and fell on Friday, and New Oriental rose 3.2% while Taiwan Semiconductor fell 3.6%. European stocks collectively fell: German Dax30 index fell 1.09%. The White House's macroeconomic outlook for 2024 raises US economic growth and inflation forecasts, calling for the passing of the torch.
Zheshang Securities' education sector performance in the second quarter: K12 expansion speed up, while adult and vocational education growth is temporarily under pressure.
The expansion of production capacity of K12 leading enterprises continued to accelerate, while maintaining market share expansion.
New Oriental Sets Date for Quarterly Earnings Call
NEW ORIENTAL-S: DATE OF BOARD MEETING
New Oriental WoXing Tianxia International Travel Co., Ltd. was established in Beijing, with Yu Minhong serving as the director.
Jingu Finance News | According to the Tianyancha App, Beijing Peking New Oriental Wow Travel World International Travel Co., Ltd. was recently established with a registered capital of 5 million RMB. The legal representative and chairman of the board of directors is Yu Minhong. Its business scope includes tourism, conference and exhibition services, camping site services, organizing sports performances, sports competition organization, organizing cultural and artistic exchange activities, ticket agency services, etc. The panoramic penetration map of equity shows that the company is wholly owned by Beijing Peking New Oriental Wakefield International Education Travel Co., Ltd., which is a wholly-owned subsidiary of Beijing New Oriental Wenhua Tourism Co., Ltd.
Brokerage Swhy maintains a buy rating for New Oriental (09901) and expects its education business to continue to grow significantly.
Shenwan Hongyuan released a research report, predicting that in the fourth quarter of the fiscal year 2024 (4QFY24, March to May 2024), New Oriental's revenue will reach 1.178 billion US dollars, a year-on-year increase of 36.9%, and non-GAAP net income attributable to the mother will be 0.058 billion US dollars, a year-on-year decrease of 6.5%. The high growth in revenue was driven by the continued growth of the education business and the continued growth of the GMV of Eastbuy. The negative growth in profit was due to the increase in store opening costs caused by the accelerated expansion of teaching sites, the growth in year-end bonus expenses, and the narrowing of the profit margin of Eastbuy. The bank expects to benefit from cultural and educational training and studying abroad.
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