New Oriental Warns for big loss

 New Oriental Education & Tech Group Inc. (NYSE:EDU)  announced online that it expects to record a significant net loss for the six months ended November 30, 2019, compared with a net profit for the six months ended November 30, 2018.

The losses were mainly due to the following:

1, Administrative expenses,

2, research and development expenditure,

3, sales and marketing expenditure increased year-on-year.

The increase is due to the continued expansion of the Group’s business, in particular the cost of personnel incurred to support the Group’s evolving business operations.

New Oriental Online said this shows that the Group is stepping up its investment in upgrading the technical infrastructure that will strengthen New Oriental’s online education products, increase the teaching staff and services of New Oriental Online, improve curriculum portfolio and content development activities, and expand New Oriental Online’s core business divisions. In particular, the number of cities and provinces where the Oriental Premium business, a subsidiary of New Oriental Online, is located.

´╝łtranslated from sina.com´╝ë

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