New Oriental Education & Technology Group Inc. (EDU) Management on Q1 2021 Results – Earnings Call Transcript

New Oriental Education & Technology Group Inc. (NYSE:EDU) Q1 2021 Results Earnings Conference Call October 13, 2020 8:00 AM ET

Company Participants

Sisi Zhao – Director, Investor Relations

Stephen Yang – Chief Financial Officer

Conference Call Participants

Tian Hou – T.H. Capital

Felix Liu – UBS

Jin Yoon – Newstreet Research

Mark Li – Citi

Alex Xie – Credit Suisse

Sheng Zhong – Morgan Stanley

Lucy Yufrom – Bank of America Securities

Alex Liu – China Renaissance

DS Kim – JPMorgan

Tommy Wong – China Merchant Securities

Liping Zhao – CICC


Good evening and thank you for standing by for New Oriental’s FY 2021 First Quarter Results Earnings Conference Call. At this time all participants are in a listen-only mode. After managements prepared remarks there will be a question-and-answer session. Today’s conference call is being recorded. If you have any objections, you may disconnect at this time.

I’d now

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Globe provides connectivity solutions for online learning at STI Education Services Group, Inc.

Online learning is part of the new normal as the COVID-19 pandemic continues to rage on in the country. With educational institutions transitioning to distance learning as part of the Department of Education and the Commission on Higher Education’s mandate, STI Education Services Group Inc. partnered with Globe for their Load Up service, which will prove vital in students’ access to learning management systems, websites, and various apps needed for online education. 

Through the partnership, the institution secured Globe’s Load Up service, which gives unlimited prepaid credits to multiple recipients. The Load Up service can only be accessed via a secure web-based platform where recipients of the prepaid load credits or promos from Globe are managed in real-time.

“As internet connectivity becomes of greater importance for education, we have sought plans and solutions to make learning more accessible for students coming from different walks of life. Our partnership with Globe

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The Meet Group Teams with ConnectSafely to Further Safer Dating Education

To Provide Consultation on Safety, Privacy, and Security Issues Related to Technology

The Meet Group, Inc., a leading provider of interactive dating solutions, announced it is collaborating with ConnectSafely, a nonprofit organization dedicated to educating technology users about safety, privacy, and security.

This press release features multimedia. View the full release here:

“We’re proud to be joining forces with ConnectSafely, an organization we have known for many years as a leader in creating a safer and better internet,” said Geoff Cook, Chief Executive Officer of The Meet Group. “Educating our members about how to date safely is core to our safety initiatives. Earlier this year we introduced a safety education pledge requirement, released safer dating tips for dating in a pandemic with our Safer Dating Advisory Board of epidemiologists and infectious disease experts, and shared full-screen reminders of our content standards to streamers before they go live.”

“ConnectSafely is

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ADGS Advisory, Inc. Announces New Share Structure in Acquisition of Quality Online Education Group Inc.

TORONTO, ON / ACCESSWIRE / October 7, 2020 / ADGS Advisory, Inc (OTC PINK:ADGS) is pleased to announce the amendment of its Articles of Incorporation in relation to its recent Merger Agreement with Quality Online Education Group Inc. (QOEG), a leading e-Learning company that specializes in providing real-time online English lessons to students in China and Southeast Asia.

ADGS has increased the number of authorized common shares to 5.02 billion, up to 3 billion of which will be reserved in order to enact the Merger Agreement, after passing the necessary resolutions of the Board of Directors and a two-thirds approval of its shareholders. The remainder of the increase will be reserved to fund potential new product line development, market expansion, and any further mergers and acquisitions as such opportunities arise. At the same time, an exchangeable shares structure will be used to finalize the current acquisition of QOEG.

ADGS Advisory

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Hailiang Education Group Inc. Acquires Jinhua Hailiang Foreign Language School

HANGZHOU, China, Sept. 18, 2020 /PRNewswire/ — Hailiang Education Group Inc. (Nasdaq: HLG) (“Hailiang Education”, the “Company” or “we”), an education and management services provider of primary, middle, and high schools in the PRC, today announced that the Company has signed a sponsorship transfer agreement (the “Agreement”) with its affiliate Hailiang Education Investment Group Co., Ltd. (“Hailiang Investment”) on July 15, 2020 to acquire Jinhua Hailiang Foreign Language School (“JHFL”) for a total consideration of RMB 34 million from Hailiang Investment. After obtaining the relevant administrative approval on September 16, 2020, Hailiang Education completed all the required process to obtain the sponsorship of JHFL from Hailiang Investment. Prior to this transaction, Hailiang Education provided operation management services to JHFL.

Located in Jindong District, Jinhua City, Zhejiang Province, China, JHFL is a private non-profit school sponsored by Hailiang Investment in 2018 and comprises primary and middle schools, which

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Former Obama education secretary forms political group

ANNAPOLIS, Md. (AP) — A former U.S. education secretary and potential candidate for governor of Maryland in 2022 announced a new political group in the state on Monday that includes other alumni of former President Barack Obama’s administration.

John King, Jr., who served as Obama’s education secretary in the last year of his presidency, said Strong Future Maryland will focus on helping Maryland recover from the coronavirus pandemic and battling systemic racism.

King also said the group will focus on advancing action to fight climate change.

“This effort is really one to try to put some additional wind in the sail of progressive policy change in the legislature,” King, who lives in Silver Spring, Maryland, said in an interview Monday.

King said he has raised more than $1 million to fund the organization.

Strong Future Maryland will include other former officials in the Obama administration, including Denis McDonough, who was

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Group seeks to inform homeowners approached by Valero for buy-out

Organizers say the meeting is to inform residents about how to negotiate the sale of their home to the refinery.

PORT ARTHUR, Texas — A Port Arthur environmental advocacy group is holding a town hall meeting Thursday evening to educate west Port Arthur residents who may be approached to sell their homes to a refinery in the neighborhood.

Several residents near the southeast corner of the Valero Port Arthur Refinery on the west side of the city have been approached or received letters from Valero expressing interest in buying their property according to John Beard, Jr. of the Port Arthur Community Action Network.

Beard’s group will be holding a town hall meeting at 6 p.m. Thursday evening about the “buy-out” offers in the neighborhood at the Westside Center at 601 W. Ransom Howard Street.

The meeting is to inform residents about how to negotiate the sale of their home to

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Hailiang Education Group Inc. Receives Multiple Awards in September 2020

HANGZHOU, China, Sept. 29, 2020 /PRNewswire/ — Hailiang Education Group Inc. (Nasdaq: HLG) (“Hailiang Education”, the “Company” or “we”), an education and management services provider of primary, middle, and high schools in the PRC, today announced it was awarded The Best China Concept Stock in Education Sector 2020 by Zhitongcaijing, a leading financial media agency in China. Additionally, at the 2020 (Fourth) China Brand Bo‘ao Summit, the Company received the Top 10 Influential Brands of Chinese Education Enterprises Award, and Mr. Junwei Chen, our Chairman and Chief Executive Officer, received the Outstanding Chinese Youth Award.

(PRNewsfoto/Hailiang Education Group Inc.)
(PRNewsfoto/Hailiang Education Group Inc.)

Mr. Junwei Chen remarked, “We are honored that Hailiang Education has been widely recognized. These awards underscore our strong history of combining education resources with scientific management, which resulted in our high-quality and diversified K12 education services that could benefit more students. Maintaining our market

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Group that organized webinars where Manitoba education minister spoke has ties to Russian ‘oligarch’

Even as intelligence agencies from around the world are raising flags about Russian interference in Western democracies, Manitoba’s education minister spoke at home-schooling teleconferences last spring organized by a group whose board includes an associate of a wealthy Russian who has been the subject of sanctions by the U.S. and Canada.

Russian national Alexey Komov sits on the board of Global Home Education Exchange (GHEX), the international home-school advocacy group that hosted two webinars attended by Manitoba Education Minister Kelvin Goertzen.

Komov is better known for his work with Konstantin Malofeev, a Vladimir Putin ally and pro-family advocate who has been sanctioned by Canada and the U.S. for funding Russian aggression in Ukraine. 

GHEX says it invited almost every Canadian education minister, but Goertzen was the only one who took part.

“I’m a little bit surprised that the minister would have been involved,” said Marcus Kolga, a senior fellow with

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Education group on board to save the planet

THE Are You the Master of Sustainability? board game created by Sunway Education Group teaches people how to take care of the world we live in.

The board game is aimed at getting people to act responsibly so that the resources on our planet will be able to support many generations to come.

In the board game developed by Sunway University staff and students, players can learn about the United Nations 17 Sustainable Development Goals (UNSDGs) which are an urgent call for people to come together and work towards achieving a better world.

The board game is more about participation than winning.

It will introduce players to the UNSDGs in an engaging and interactive way.

“This board game is designed to promote the adoption of UNSDGs among young people through an interactive and fun learning experience,” said Sunway Education Group chief executive officer Dr Elizabeth Lee.

“We have created this

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