Jinwu Financial News | According to the Northeast Securities Research Report, New Oriental-S (09901) released Summary] FY2024Q3 Quarterly Report. From December 2023 to February 2024, the company achieved net revenue of US$1.27 billion/+60.1%, operating profit of US$113 million/ +70.6%, net profit to mother of US$87 million/ +6.8%, non-GAAP operating profit of US$141 million/ +60.3%, non-GAAP net profit of US$105 million/ +9.8%; the revenue side exceeded the previous period The guideline is the upper limit of $1,071 to $1,094 million. The company expects FY2024Q4 net revenue to be US$1,102 to US$1,127 million/ +28% to 31%, and the RMB volume growth rate is expected to reach 34% to 37%.
According to the bank, policy supervision is gradually being clarified and refined, and New Oriental's advantage as an industry leader is prominent in the current supply and demand pattern. Considering the continued restoration of traditional businesses and the accelerated growth of new businesses, FY2024-FY2026's net profit due to mother is estimated to be US$3065/57,765 million, and non-GAAP operating profit of US$5.07/759/1,049 million, maintaining the “buy” rating.