China News Service, July 27. On July 27, New Oriental disclosed its unaudited financial results for the fourth quarter and year ended May 31, 2022.
It shows that in the fourth quarter of fiscal 2022, net revenue fell 56.8% year-on-year to $524 million, with an operating loss of $105.6 million and a net loss attributable to shareholders of $189.3 million.
New Oriental's fiscal year 2022 net revenue is approximately US$3.105 billion, and operating loss is approximately US$983 million.
As at 31 May 2022, the total number of schools and learning centres was 744.
This is a decrease of 925 compared to 1,669 as of May 31, 2021.
As of May 31, 2022, the total number of schools is 107.
Yu Minhong, Executive Chairman of New Oriental's Board of Directors, said that fiscal 2022 is a year full of challenges and opportunities.
To comply with the latest policy, New Oriental has restructured its core business and operations and has entered a new stage.
The remaining major businesses of New Oriental performed steadily, laying a solid foundation for future development.
The various new businesses launched at the beginning of the year also achieved encouraging results.
(Zhongxin Finance)