Operating profit was approximately US $ 25.3 million, compared with an operating loss of US $ 28.6 million in the same period last year.
Today, New Oriental announced Q2 and interim financial results for fiscal year 2020: Of which, Q2 fiscal year 2020 net income exceeded US $ 785 million, a year-on-year increase of 31.5%; operating profit was approximately US $ 25.3 million, and operating loss for the same period last year was US $ 28.6 million; Net profit attributable to New Oriental was approximately US $ 53.4 million, and net loss for the same period last year was US $ 25.8 million.
In the first half of fiscal 2020, New Oriental achieved net income of approximately $ 1.857 billion, a year-on-year increase of 27.5%; operating profit of approximately $ 271 million, a year-on-year increase of 104.5%; net profit attributable to New Oriental was approximately $ 262 million , A year-on-year increase of 169.4%.
The number of New Oriental Q2 students enrolled in Q2 in fiscal year 2020 was approximately 3.789 million, a year-on-year increase of 63.3%. As of November 30, 2019, the total number of learning centers reached 1,304, a net increase of 179 compared to the same period last year (the total number of learning centers in the same period in 2018 was 1,125), and a net increase of 43 compared to the previous quarter. As of November 30, 2019, the total number of schools was 97.
Yu Minhong, executive chairman of the board of directors of New Oriental, said that during the quarter, New Oriental K-12 elementary and secondary school general education business continued to maintain a strong momentum, achieving approximately 46% revenue growth. Among them, the middle school business achieved about 43% year-on-year revenue growth, and the primary school business grew about 51% year-on-year.
New Oriental CEO Zhou Chenggang added that during the quarter, New Oriental added a net 41 learning centers in existing cities, opened a new training school in Huizhou, and opened a dual teacher school in Chengde. As of the end of the second quarter of this fiscal year, the total classroom area of New Oriental has increased by about 25% year-on-year and 6% month-on-month.
“Non-GAAP operating profit for the quarter reached US $ 36.5 million (a loss of US $ 14.9 million for the same period last year), while non-GAAP operating profit margin increased from -2.5% a year ago to 4.7%, a year-on-year increase of 720 basis points. “New Oriental CFO Yang Zhihui said that this is mainly due to New Oriental’s improvement in classroom use efficiency and campus operation efficiency. On the same day, New Oriental Online Technology Holdings Co., Ltd. (“New Oriental Online” or “Koolearn.com”), a pure online education platform of New Oriental, also announced its interim results for fiscal year 2020: it realized revenue of 568 million yuan (approximately $ 81 million). , A year-on-year increase of 18.8%.
As of November 30, 2019, New Oriental Online’s K-12 online education business achieved 69.4% revenue growth and 158.6% student enrollment growth. Among them, Dongfang Youbiao’s online small class covers 128 third- and fourth-tier cities across the country, and the number of student registrations has increased by 186.2% compared with the same period last year.