According to Futu News on September 27th,$New Oriental(EDU.US)$It was higher before the market. As of press release, it has now risen 3.86 percent to $58.19, with a turnover of $1831 million.
According to the news, Yamato reiterated its “buy” rating for New Oriental. The bank said that based on STEAM (educational philosophy) and strong demand from study tours to prepare for overseas examinations, Yamato raised New Oriental's profit forecast for the 2024-25 fiscal year by 1%-4%. Daiwa predicts a 38% year-on-year increase in revenue for the first quarter of FY2024, which is 32%-35% higher than the company guidelines, and a 35-36% increase in market expectations; it also predicts that New Oriental's operating profit will expand to 15.1% under non-GAAP (Non-GAAP).
Furthermore, the China Private Education Association spoke yesterday about”Out-of-school training will be completely banned from October 15” The rumor was refuted. The Association stated that the Ministry of Education announced to the public that the “Interim Measures on Administrative Penalties for Out-of-School Training” will be implemented from October 15, 2023. It is not an internet report that completely prohibits out-of-school training, but rather regulates out-of-school training institutions, so that compliants can be protected, violators pay the price, and promote the healthy development of the education industry.