On June 12, New Oriental-S rose 5.19% in regular trading, trading at 37.32 HKD/share, with turnover of 74.42 million HKD. The rebound comes after the stock had been pressured by lackluster forward guidance following its fiscal Q3 results.
On the news front, New Oriental founder Yu Minhong stated at a company event on June 10 that Sun Jin, since taking over as Executive President of subsidiary East Buy (Dongfang Zhenxuan) six months ago, has delivered what he described as miraculous business growth. The comments appear aimed at reassuring investors amid a wave of key anchor departures from the live-streaming platform, with five core hosts having resigned in recent months citing cultural clashes with the new management team.
New Oriental previously reported fiscal Q3 net revenue of USD 1.417 billion, up 19.8% year-over-year, with operating profit growing 44.8% and net income attributable to shareholders rising 45.3%, all exceeding market expectations. However, the company's subdued guidance had weighed on the stock, which declined 3.16% on June 9 before today's recovery.
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