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From Smart Rings to Smart Glasses – DR H Redefines the Aesthetics of Technology

—Hong Kong brand DR H fuses Eastern philosophy and cutting-edge innovation to reshape the global smart wearables landscape.


HONG KONG SAR – Media OutReach Newswire – 28 October 2025 – In today’s smart wearables market, the hottest segment of the Consumer Electronics industry, leading brands dominate resources, while endless spec races and price wars leave consumers overwhelmed and uninspired. Beneath this seeming prosperity lies a landscape of homogeneity and aesthetic fatigue.

Amidst this, DR H, a rising smart wearables brand from Hong Kong Science Park, is charting a new course, where technology meets aesthetics, and intelligence meets emotion. By fusing cutting-edge innovation with refined design, DR H is transforming wearables from mere devices into intelligent lifestyle companions.

Precise Positioning: Finding Space in a Saturated Market

While most wearable brands focus on technical specs, DR H identified a clear gap—the lack of thoughtful design.

According to insights shared at the 2025 Rednote Trend & Tech Summit, young consumers are shifting their focus from technical specs to prioritizing experiential scenarios. They seek products that express personality, complement their style, and fit seamlessly into everyday life, rather than focusing on powerful devices.

At this pivotal moment, DR H seized the opportunity to merge rational technology with emotional aesthetics. Collaborating with renowned Hong Kong designer Alan Chan, the brand infuses Eastern philosophy into its products—drawing on concepts like TAIJI and WUJI to balance technology and lifestyle. The result: smart devices that transcend cold hardware to become elegant, expressive fashion accessories.

By making design its core competitive advantage, DR H has established a clear identity in a homogeneous market—not selling gadgets, but curating a refined, intelligent, and balanced way of life.

https://youtu.be/lB16kKGf9WU?si=jJ27LGPeAbanEUCZ

Growth Through Emerging Niches

In the fast-evolving tech landscape, success lies not in chasing trends but in recognizing the turning points. DR H’s rise reflects this strategic foresight. Rather than competing in the saturated smartwatch category, the brand focused on emerging, unsaturated niches like smart rings and smart glasses, optimizing products for specific lifestyle scenarios and unlocking new growth opportunities.

  • TAIJI Smart Ring: A Philosophy of Balance for Day and Night

The brand’s first TAIJI Smart Ring integrates Eastern balance philosophy, introducing an innovative dual-ring system for day and night use. It offers 24/7 monitoring of heart rate, blood oxygen, body temperature, emotional stress, sleep quality, and activity levels, helping users understand both physical and emotional well-being. During the November 2024 e-commerce sale season, the TAIJI Smart Ring achieved a position within the Top 3 in the smart ring category on JD.com, signifying DR H’s significant success in the health wearables sector.

  • WUJI Smart Ring: Where Jewelry Meets Technology

The WUJI Smart Ring takes the concept of Luxury Technology further. Inspired by the ancient Chinese notion of round heaven and square earth, its distinctive square-inside-round shape is both symbolic and elegant. With a full-diamond finish and adjustable fit, it’s not just a wellness tracker but a statement of taste and individuality.

  • Smart Glasses: Entering the Audio-Visual Intelligence Era

In smart eyewear, DR H once again demonstrates its instinct for innovation. Two distinct series cater to different lifestyles:

DR H IntelliShade Sunglasses – A stylish fusion of sunglasses, headphones, and smart interaction for trendsetters on the go.

DR H IntelliView Glasses – Sleek rimless glasses for professionals, supporting music playback, calls, navigation, remote photo control, and voice interaction—a discreet assistant for the modern workplace.

In addition, DR H plans to launch smart brooches, smart bracelets, and other niche wearables, continuously expanding the boundaries of smart lifestyle design.

True Innovation That Cares

In an industry crowded with “conceptual” products and superficial gimmicks, DR H pursues authentic, tangible innovation, making technology genuinely perceptible and emotionally resonant. Its holistic approach connects functionality, emotional value, and service ecosystems, building multidimensional competitiveness from hardware to experience.

This vision comes to life through the brand’s companion app, DR HHH, which powers the smart ring ecosystem:

  • Comprehensive Health Insights: Aggregates mind-body data into visual weekly, monthly, and annual reports, complete with personalized guidance.
  • Personal Health IP: TAIJI GIRL – A virtual companion offering free, evidence-based wellness advice informed by over a million medical studies.
  • Value-Added Ecosystem: Integrates mindfulness courses, psychological counseling, and wellness services via DR H’s strategic partners, creating a complete “Monitor–Analyze–Act” loop for holistic health.


From Hong Kong to the World

Rooted in Hong Kong yet born with a global vision, DR H is actively expanding into Europe, the Middle East, and beyond, adapting its designs and marketing to local cultures.

In an increasingly competitive market, DR H stands out by redefining what smart wearables can be, where technology meets aesthetics, data meets humanity, and function meets emotion. With its commitment to design, innovation, and empathy, DR H continues to paint a new picture of wearable technology—one that is intelligent, stylish, and deeply human.

The issuer is solely responsible for the content of this announcement.

GS1 Hong Kong Summit 2025 Shaping the Future with Sustainability, Transformation, AI & Resilience

HONG KONG, Oct. 28, 2025 /PRNewswire/ — The GS1 Hong Kong Summit 2025 (“the Summit”) themed “Powering Next-Gen Business with STAR” concluded on a high note today at the Hong Kong Convention and Exhibition Centre. Drawing 600 senior executives, policymakers, and industry pioneers, the Summit served as a premier platform for dialogue and collaboration to explore how enterprises can harness STAR – Sustainability, Transformation, Artificial Intelligence (AI) and Resilience to enhance competitiveness and drive success in future.

The GS1 Hong Kong Summit 2025 (“the Summit”) themed “Powering Next-Gen Business with STAR” concluded on a high note today. Ms Mable Chan, JP, Secretary for Transport and Logistics of the HKSAR Government was the Guest of Honour
The GS1 Hong Kong Summit 2025 (“the Summit”) themed “Powering Next-Gen Business with STAR” concluded on a high note today. Ms Mable Chan, JP, Secretary for Transport and Logistics of the HKSAR Government was the Guest of Honour

Ms Mable Chan, JP, Secretary for Transport and Logistics of the HKSAR Government was the Guest of Honour and delivered opening address, “The evolvement of Environment, Social and Governance (ESG) is exciting as businesses take steps to protect our Mother Earth and assume more social responsibilities in their business practices to make our world greener and more equitable. The Government is also spearheading the adoption of Al in logistics through the Port Community System (PCS), which will be implemented for industry use starting in early 2026.” She also emphasized that resilience is the key element to place Hong Kong among the world’s top logistics hubs.

As highlighted in the Policy Address, one of the strategic priorities is to develop Hong Kong into a leading multinational supply chain management centre, serving as a gateway for enterprises to “go global.” In alignment with this vision, the Summit featured strategies supporting Mainland enterprises in entering Hong Kong, or even Asia Pacific market.

Mr Roy Ng, Chairman of GS1 HK, shared how the STAR framework empowers companies to enhance their competitiveness, “GS1 standards are evolving alongside the industry trends, serving as enabler of ‘STAR’. Driven by rising consumers’ expectation, regulatory requirements, ‘S’ – sustainability is no longer optional, but a must for businesses. Products selling to EU will be required to feature a Digital Product Passport that shows consumers the product’s lifecycle – where it comes from, what it’s made of, how sustainable it is, and whether it can be recycled. QR codes powered by GS1 standards capture unique product identifiers – GTIN (barcodes), GLN (location identifiers), etc, and provide instant access to these verified data, supporting companies meet regulatory requirements and build consumer trust.”

Ms Anna Lin, Chief Executive of GS1 Hong Kong, highlighted the importance of AI and data at the plenary, “The power of AI lies in the reliability of the data it consumes. To prevent ‘garbage in, garbage out’, businesses must prioritize structured, verifiable, and trusted data. Data and AI technologies are inseparable — effectively managing both is key to unlocking their full potential and driving tangible business value.”

In addition, the 2nd edition of GS1 HK’s Digital Transformation Awards was also held at the event, recognising businesses that have successfully implemented digital transformation initiatives in 10 award categories, including excellence in AI innovation, customer experience, digital enablement, ESG & sustainability, digital trust & data management, etc. (Please refer to appendix for the list of “Digital Transformation Awards” winners.)

Concluding the Summit was the Chairman Club, where businesses across sectors —including food, health & wellness, retail, and consumer electronics brands—exchanged insights on how they navigated challenges and grew with winning strategies.

Download Photos: photos

Appendix

Digital Transformation Awards Winners List (in alphabetical order):

Award category

Awarded Company

Digital Transformation Enterprise of the Year

HKT

Excellence in AI Innovations

Maxim’s Caterers Limited

SP Infinite Technology Limited

Swire Coca-Cola Limited

Excellence in Customer Experience

DCH Business Innovations / DCH Living

HKT

Hospital Authority

Mannings, DFI Retail Group

Excellence in Digital Culture

HKT

Swire Coca-Cola Limited

Excellence in Digital Enablement

HKT

MTR Corporation

Rondish Company Limited

Excellence in Digital Trust & Data Management

Check Point Software Technologies Limited

HGC Global Communications Limited

Excellence in ESG & Sustainability

AS Watson Group (HK) Limited – AS Watson Industries

Catalo Natural Health Science Limited

FoodTech AI Company Limited

Excellence in Operational Impact

DCH Business Innovations / DCH Toolbox

HGC Global Communications Limited

MTR Corporation

Excellence in Sales & Marketing

FrieslandCampina (Hong Kong) Limited

Hong Kong Technology Venture Company Limited

Maxim’s Caterers Limited

Excellence in Supply Chain & Logistics

Geek Plus International Co., Limited / Wellcome Supermarket

Loscam (Greater China) Holdings Limited

SME Innovator

Antelope International Limited

ShipAny Limited

 

About GS1 Hong Kong

Founded by the Hong Kong General Chamber of Commerce in 1989, GS1 Hong Kong is the local chapter of GS1®. GS1 Hong Kong’s mission is to empower businesses of their digital transformation, improve supply chain visibility and efficiency, ensure product authenticity, facilitate commerce connectivity and enable sustainable value chain through the provision of global supply chain standards (including GTIN & barcodes), and a full spectrum of platforms, solutions and services.

GS1 Hong Kong currently supports close to 8,000 corporate members from 20 sectors including retail & consumer packaged goods, food & beverage and food services, healthcare, apparel & footwear, logistics & ICT. By working closely with communities of trading partners, industry organizations, government, and technology providers, we can foster a collaborative ecosystem, paving the way for “Go Digital, Go Green“.

As a non-profit organization, GS1 develops and drives global adoption of supply chain standards. Headquartered in Brussels, Belgium, GS1 has member organisations in over 120 countries.

Website:www.gs1hk.org

Bybit Rides the Gold Wave: New Copy Trading TradFi Protection Vouchers Empower Traders to Trade Smarter and Safer

DUBAI, UAE, Oct. 28, 2025  /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is helping traders capture the momentum of the gold rally and heightened forex market activity through its Copy Trading TradFi platform. The company has launched two exclusive Protection Vouchers designed to help both new and existing users trade confidently while managing risk effectively.

Bybit’s “TradFi” — short for traditional finance — expands the platform beyond digital assets, giving traders access to markets such as gold, forex, indices, commodities, and U.S. stock CFDs. Built on MetaTrader 5 (MT5), Bybit TradFi integrates the sophistication of institutional trading with the accessibility of its user-friendly ecosystem, bridging the gap between crypto and conventional finance.

With global markets showing renewed volatility, Bybit Copy Trading TradFi allows users to automatically replicate the strategies of professional traders across traditional financial instruments. This initiative combines smart trading tools with risk protection, empowering users to make the most of every market move.

New users who copy trade with at least 100 USDT can receive up to 100 USDT in bonus protection if their first trade results in a loss, while existing users who copy trade with at least 800 USDT can earn up to 50 USDT in protection on a losing trade. These vouchers are available exclusively for Bybit’s Copy Trading Classic platform under its TradFi offering.

To participate, users must complete Identity Verification Lv. 1 and claim the voucher via the product page. Eligible participants can register during the event period, and rewards are distributed within three days of a qualifying loss. The voucher serves as a non-withdrawable trading bonus that can be used as margin for Copy Trading Classic, while profits generated from it remain withdrawable.

Participation is limited to verified users outside restricted regions, including the European Economic Area (EEA).

For full terms and conditions, visit Bybit Copy Trading TradFi.

#Bybit / #CryptoArk 

Bybit Rides the Gold Wave: New Copy Trading TradFi Protection Vouchers Empower Traders to Trade Smarter and Safer
Bybit Rides the Gold Wave: New Copy Trading TradFi Protection Vouchers Empower Traders to Trade Smarter and Safer

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For updates, please follow: Bybit’s Communities and Social Media

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Ping An Reports Significant Improvements in Operating Profit in 9M 2025, Life & Health NBV Robustly Increases 46.2% YoY

Net Profit Surges 45.4% YoY in 3Q 2025

HONG KONG, SHANGHAI, Oct. 28, 2025 /PRNewswire/ — Ping An Insurance (Group) Company of China, Ltd. (hereafter “Ping An“, the “Company”, or the “Group”, HKEX: 2318 / 82318; SSE: 601318) today announced its results for the nine months ended September 30, 2025.

Despite a complex, fluid external environment, China’s economy achieved steady progress amid overall stability as domestic demand potential was unleashed and development resilience was enhanced in the first nine months of 2025. Ping An focused on core financial businesses and strengthened the insurance protection function to serve the real economy. Advancing the technology-enabled “integrated finance + health and senior care” dual-pronged strategy, Ping An remained customer-needs oriented, pursued high-quality development, and achieved significant improvements in overall business results.

In the first nine months of 2025, operating profit attributable to shareholders of the parent company grew 7.2% year on year to RMB116,264 million. Operating profit attributable to shareholders of the parent company grew 15.2% year on year in the third quarter of 2025. Despite the financial treatment of non-recurring items, including one-off transactions related to Ping An Good Doctor, Autohome, and Ping An HealthKonnect, as well as the revaluation on the conversion value of the convertible bonds issued by the Company, net profit attributable to shareholders of the parent company was RMB132,856 million, up 11.5% year on year in the first nine months of 2025, and surged 45.4% year on year in the third quarter of 2025. As of September 30, 2025, the Group’s equity attributable to shareholders of the parent company amounted to RMB986,406 million, representing a 6.2% increase from the beginning of the year after dividends, demonstrating the resilience of the balance sheet, robust profitability, and sustainable dividend-paying capability. In the first nine months of 2025, revenue amounted to RMB901,668 million, up 4.6% year on year.

High-quality development yielded notable results. In the first nine months of 2025, Life & Health’s new business value (“NBV”) increased 46.2% year on year; NBV per agent increased 29.9% year on year; bancassurance channel NBV surged 170.9% year on year. Insurance funds investment performance improved significantly. Ping An’s insurance funds investment portfolio achieved an unannualized comprehensive investment yield of 5.4% in the first nine months of 2025, up 1.0 pps year on year.

1.  Overall Business Results Significantly Improved; Life & Health NBV Robustly Increased 46.2% YoY.

Life & Health business sustained growth with high-quality multi-channel development. In the first nine months of 2025, Life & Health’s NBV increased 46.2% year on year to RMB35,724 million, and NBV margin based on annualized new premium rose 9.0 pps year on year. Ping An Life consistently deepened the transformation and built multi-channel professional sales capabilities. In respect of the agency channel, Ping An Life built a team development framework that prioritizes the cultivation, recruitment and fostering of high-quality agents. Agency channel NBV grew 23.3% year on year in the first nine months of 2025, driven by a 29.9% year-on-year increase in NBV per agent. In respect of the bancassurance channel, Ping An Life developed high-quality channels, expanded high-quality teams, and improved product competitiveness. Bancassurance channel NBV surged 170.9% year on year in the first nine months of 2025. In respect of the community finance channel, Ping An Life adopted a farmer-like approach of focusing on retained customers, and made consistent breakthroughs in customer development as the overall persistency ratio of retained customers improved by 0.6 pps year on year in the first nine months of 2025. Bancassurance, community finance and other channels contributed 35.1% of Ping An Life’s NBV in the first nine months of 2025.

Under a customer-centric philosophy, Ping An Life advanced “insurance + service” strategy. In respect of insurance products, Ping An Life launched and upgraded flagship wealth management, pension and protection insurance products. Moreover, Ping An Life launched “An Yi Zun Xiang,” a participating annuity product featuring dual insureds and new “e Sheng Bao” medical insurance products for high-end, mid-range and basic customer segments to meet diverse demands. In respect of services, Ping An focused on building capabilities in health care, home-based senior care and premium senior care services. Ping An Life provided over 16 million customers with health management services in the first nine months of 2025, which were widely welcomed by customers. Ping An’s home-based senior care services covered 85 cities nationwide, and nearly 240,000 customers were entitled to the home-based senior care services as of September 30, 2025. Ping An unveiled a total of six premium health and senior care communities, which are currently in operation or under construction, in five cities as of September 30, 2025. A community in Shanghai named “ZHEN CITY•Shanghai” has opened for business, and another in Shenzhen is scheduled to start a soft opening by the end of 2025.

Ping An P&C achieved solid growth with consistently improving business quality. Ping An P&C’s premium income rose 7.1% year on year to RMB256,247 million in the first nine months of 2025. Overall combined ratio improved by 0.8 pps year on year to 97.0%. Focusing on its core responsibilities and businesses, Ping An P&C strengthened innovation-driven development. Premium income of auto insurance and non-auto insurance reached RMB166,116 million and RMB90,131 million respectively, up 3.5% and 14.3% year on year respectively. Through building a full-scenario, end-to-end customer service system to deliver “worry-free, time-saving, and money-saving” experience, Ping An P&C boosted insurance revenue by 3.0% year on year to RMB253,444 million. Operating profit climbed 8.3% year on year to RMB15,143 million.

Insurance funds investment performance improved significantly. The Company adheres to the philosophies of long-term investing and liability matching for insurance funds investment. The insurance funds investment portfolio achieved an unannualized comprehensive investment yield of 5.4%, up by 1.0 pps year on year, and an unannualized net investment yield of 2.8% in the first nine months of 2025. The insurance funds investment portfolio grew 11.9% from the beginning of the year to over RMB6.41 trillion as of September 30, 2025. Ping An proactively managed interest rate fluctuations and actively allocated to interest rate bonds when rates were high, keeping a good match between costs, incomes and durations. While keeping risks under control, the Company fully seized market opportunities and increased allocation to equities to outperform markets with robust long-term investment returns. Ping An also actively increased investment in high-quality alternative assets and the real economy to diversify the sources of assets and incomes.

Ping An Bank maintained steady business performance and asset quality. Ping An Bank’s revenue and net profit totaled RMB100,668 million and RMB38,339 million respectively in the first nine months of 2025. Ping An Bank kept overall asset quality stable by consistently strengthening risk management. Non-performing loan ratio dropped by 0.01 pps from the beginning of the year to 1.05% as of September 30, 2025. Provision coverage ratio was 229.60% and deviation of loans more than 60 days overdue was 0.77 as of September 30, 2025. Core tier 1 capital adequacy ratio rose 0.40 pps from the beginning of the year to 9.52% as of September 30, 2025. Ping An Bank strengthened asset quality control and management, and enhanced non-performing asset recovery and disposal, reducing impairment losses on credit and other assets by 18.8% year on year to RMB25,989 million. Corporate loan balance rose 5.1% from the beginning of the year to RMB1,688,561 million as of September 30, 2025 as Ping An Bank stepped up support for the real economy.

Integrated finance-enabled core competitive moat and steadily improving customer development efficiency. Ping An’s retail customers increased 2.9% from the beginning of the year to nearly 250 million as of September 30, 2025. There were 26.28 million new customers in the first nine months of 2025, up 6.8% year on year. Contracts per customer increased 0.7% from the beginning of the year to 2.94. Ping An achieved high retail customer retention rates. The retention rate of customers holding four or more contracts within the Group was 97.5% as of September 30, 2025, 12.8 pps higher than that of those holding only one contract. The retention rate of customers served by Ping An for five or more years was 94.4% as of September 30, 2025, 41.0 pps higher than that of first-year customers.

2.  Advancing the Health and Senior Care Strategy, with Leading AI Capabilities Empowering High-Quality Development

Ping An’s health and senior care ecosystem enabled its core financial businesses though differentiated “Product + Service” offerings. Ping An achieved nearly RMB127 billion in health insurance premium income for the first nine months of 2025, including nearly RMB58.8 billion from medical insurance, up 2.6% year on year. Nearly 63% of Ping An’s nearly 250 million retail customers were entitled to services benefits in the health and senior care ecosystem as of September 30, 2025. They held approximately 3.38 contracts and about RMB63,400 in assets under management (“AUM”) per capita, 1.6 times and 4.0 times those held by retail customers not entitled to these service benefits respectively. Customers entitled to service benefits in the health and senior care ecosystem contributed nearly 70% of Ping An Life’s NBV in the first nine months of 2025.

Ping An made significant progress in both retail and corporate customer development by effectively integrating insurance with health and senior care services. Ping An’s health and senior care ecosystem had over 87,000 paying corporate clients as of September 30, 2025. Over 16 million of Ping An Life’s customers used health management services in the first nine months of 2025. In respect of proprietary flagships, PKU Healthcare Group’s revenue grew steadily to nearly RMB4.1 billion in the first nine months of 2025, driven by its robust operations. Peking University International Hospital consistently strengthened discipline development, streamlined operations management, and comprehensively improved patient services. The hospital’s revenue amounted to RMB1.94 billion and outpatient visits exceeded 970,000 in the first nine months of 2025. In respect of partner networks, Ping An provides an “online, in-store, in-home and in-company” service network by integrating domestic and overseas premium resources. Ping An had about 50,000 in-house and contracted external doctors in China as of September 30, 2025. Ping An partnered with over 37,000 hospitals (including all top 100 hospitals and 3A hospitals), over 107,000 health management institutions and nearly 241,000 pharmacies (over 35% of all pharmacies) in China as of September 30, 2025. Overseas, Ping An partnered with over 1,300 medical institutions in 35 countries across the world as of September 30, 2025.

Ping An built leading AI capabilities to accelerate the development of its ecosystems. Ping An has constructed an artificial intelligence moat based on massive data and tech companies pursuing technology development and application. The Group ranks among the top in the world by its massive data which serves as the core foundation for AI-driven value creation. Ping An uses its massive data to train large AI models. The Group’s databases have accumulated 30 trillion bytes of data covering nearly 250 million retail customers. Ping An has accumulated over 3.2 trillion high-quality tokens, approximately 310,000 hours of labeled speeches, and over 7.5 billion images. Ping An enables financial businesses to improve experience, manage risks, cut costs and promote sales by consistently deepening and expanding scenario-oriented AI applications.

In improving experience, by leveraging breakthrough AI technologies including multimodal perception and intelligent reasoning, 89% of Ping An P&C’s policies sold via the auto dealer channel can be intelligently issued within one minute on average. Ping An P&C applied the technology to end-to-end automatic non-auto insurance claim settlement. With the technology, 63% of personal injury claims were settled automatically within as little as 51 seconds. Leveraging cutting-edge technologies including AI-powered robotics, smart recognition cameras, and AI-powered claim review, Ping An has created a new brand image of life insurance claim service with “111 Quick Claims” featuring one-sentence case reporting, one-click material uploading, and one minute claim review. In the first nine months of 2025, 58% of claims were settled via the quick claim service. In managing risks, AI enables Ping An’s insurance business lines to enhance risk management capabilities. Ping An P&C’s claims savings via smart fraud detection totaled RMB9.15 billion in the first nine months of 2025. In cutting costs, the volume of services provided by Ping An’s AI service representatives reached over 1,292 million times, accounting for 80% of Ping An’s total customer service volume in the first nine months of 2025. Ping An actively promoted the application of AI coding tools, achieving an AI coding rate of 10% and enabling higher efficiency of R&D staff. In promoting sales, AI agents assisted sales of RMB99,074 million in the first nine months of 2025 by enabling demand analysis, personalized recommendation, sales pitches, and so on. Ping An built a smart “AI + human” reinstatement task assignment system. As a result, Ping An reinstated 23% more policies, effectively renewing coverage for customers.

Ping An actively fulfilled its social responsibilities, supporting green development and rural vitalization. Ping An’s green insurance premium income amounted to RMB55,279 million and funds provided for rural industrial vitalization via “Ping An Rural Communities Support” totaled RMB47,390 million in the first nine months of 2025.

Prospects of Future Development

Looking ahead, China’s “14th Five-Year Plan” is nearing its conclusion, and a new journey under the “15th Five-Year Plan” is about to begin. China’s economy is on solid foundations, demonstrating advantages in many areas, strong resilience, and great potential. The conditions and underlying trends supporting long-term growth remain unchanged. Ping An will continue to implement its business policy of “focusing on core businesses, boosting revenue and cutting costs, advancing reform and innovation, and preventing risks”. The Company will consistently advance its technology-enabled “integrated finance + health and senior care” dual-pronged strategy, promote comprehensive digital transformation and the value proposition of “worry-free, time-saving, and money-saving” services, and steadily improve operations and management to drive robust business growth. In doing so, Ping An aims to create long-term, stable, and sustainable value for its clients, employees, shareholders, and society.

 

LISTEN HERE FOR CITY SOUNDS – NICCOLO CHANGSHA CELEBRATES ITS 7TH ANNIVERSARY

CHANGSHA, China, Oct. 28, 2025 /PRNewswire/ — This autumn, Niccolo Changsha proudly celebrates its 7th anniversary with a series of exclusive limited-time offerings and special privileges. In collaboration with renowned city sound curator Da Wu (大悟), the hotel successfully hosted an episode of ‘Niccolo Lectures’ event and a multimedia submission campaign, inviting the public to share cherished auditory memories of the city.

 

Continuing its artistic spirit as a cultural landmark within the city, Niccolo Changsha once again hosted its signature event­ — Niccolo Lectures — this time featuring Da Wu as guest speaker. Held on 19 October at The Conservatory on the hotel’s 8th floor, the event brought together hotel guests, social media followers, and local influencers to explore the theme ‘Changsha City Sound Walk’. Mr. Da Wu began by sharing a variety of sounds captured throughout Changsha: the resonant bells atop Yuelu Mountain (岳麓山), crashing waves at Orange Isle (橘子洲), the sizzle of stinky tofu being fried, hawkers’ calls and murmured conversations in alleyways, catchy local dialect rhymes, and even the distinctive traffic signals at Jiefang West Road’s (解放西路) bustling intersection. These familiar soundscapes, collected over more than a decade of Mr. Da Wu’s fieldwork, stirred deep emotional responses among attendees. Guests then engaged in heartfelt discussions around topics such as ‘What sounds define Changsha‘, ‘The disappearing voices of the city’, and ‘The gap between evolving urban sounds and feelings’. These exchanges, along with Mr. Da Wu’s insights, inspired thoughtful reflection and brought the event to a memorable close.


Building on this artistic dialogue from ‘Niccolo Lecture’, Niccolo Changsha has launched an online image submission contest themed ‘Listen Here for City’. Participants are invited to share treasured moments captured in Changsha that reflect themes such as ‘past and present’, ‘fast and slow’, or ‘city and nature’. The submission period is from now until 3 November 2025. Entries can be submitted via Niccolo Changsha’s official WeChat account, RedNote or email. Prizes include Niccolo Changsha guest room complimentary experience and Niccolo Kitchen signature steak menu for two. Winning submissions will be creatively integrated into Mr. Da Wu’s audio works to produce a series of immersive audiovisual features – capturing and preserving the soul and essence of life in Changsha.


Niccolo Lectures is an exclusive event series that embodies Niccolo’s brand spirit of exploration and its motto of “New Encounters and Timeless Pleasures.” Dedicated to creating compelling experiences, Niccolo Hotels presents these events as a platform for contemporary and future entrepreneurs, fashion leaders, and business innovators to share their insights and remarkable life stories.

For more information, please visit the hotel, follow the hotel WeChat Official “Niccolo Changsha” (长沙尼依格罗酒店 in Chinese) or call +86 731 8895 8888.

About Niccolo Changsha

New Encounters. Timeless Pleasures.

Niccolo Changsha is located in Hunan capital’s premier address in Furong District entertainment and business hub. Opened in October 2018, the hotel offers 241 contemporary urban chic rooms and spectacular suites between the 86th and 92nd floors of Changsha IFS Tower One. Situated in the most vibrant part of the city, the hotel’s facilities include contemporary function and meeting spaces offering scenic views of the city and Xiang River, elaborate conference and social event venues including The Conservatory, the luxurious Niccolo Ballroom, a sophisticated Tea Lounge, Bar 93, Niccolo Kitchen, The Spa at Niccolo and the Fitness Centre. Reservations may be made at niccolohotels.com.

About Niccolo Hotels

Niccolo Hotels is a collection of five contemporary chic hotels inspired by luxury fashion. Underpinning the brand is the desire to make life effortlessly luxurious for guests with engaging experiences, art and design, and sophisticated spaces. The brand’s first property opened in Chengdu in 2015 and it is now present in Hong Kong SAR, Changsha, Chongqing and Suzhou. Niccolo Hotels is part of Wharf Hotels portfolio and a member of Global Hotel Alliance, the world’s largest alliance of independent hotel brands. For more information, please visit niccolohotels.com, Instagram or LinkedIn.

About GHA and GHA DISCOVERY

Global Hotel Alliance (GHA) is the world’s largest alliance of independent hotel brands with 45 brands and 850 properties in 100 countries. Its award-winning loyalty programme—GHA DISCOVERY—provides 32 million members recognition, D$ rewards and exclusive experiences across its hotels and partners, both with and without a stay. GHA DISCOVERY generated US$2.7 billion in revenue and 11 million room nights in 2024. Through GHA membership, brands significantly expand their global reach, generating incremental revenue and reducing dependence on third-party channels, all while maintaining management independence and individual positioning.

For more information, visit globalhotelalliance.com or www.ghadiscovery.com.

China Yuchai Announces Board Change

SINGAPORE, Oct. 28, 2025 /PRNewswire/ — China Yuchai International Limited (NYSE: CYD) (“China Yuchai” or the “Company”) announced today that Mr. Wu Qiwei has resigned as a Director of the Company with effect from October 27, 2025. Mr. Wu has also resigned as a Director of the Company’s main operating subsidiary, Guangxi Yuchai Machinery Company Limited.  

With Mr. Wu’s resignation, China Yuchai’s Board of Directors now comprises eight (8) directors, three (3) of whom are independent directors.

About China Yuchai International

China Yuchai International Limited, through its subsidiary Guangxi Yuchai Machinery Company Limited (“Yuchai”), is one of the leading powertrain solution providers in China. Yuchai specializes in the design, manufacture, assembly, and sale of a wide variety of light-, medium- and heavy-duty engines for trucks, buses, pickups, construction and agricultural equipment, and marine and power generation applications. Yuchai offers a comprehensive portfolio of powertrain solutions, including but not limited to diesel, natural gas, and new energy products such as pure electric, range extenders, and hybrid and fuel cell systems.  Through its extensive network of regional sales offices and authorized customer service centers, Yuchai distributes its engines directly to auto OEMs and distributors while providing after-sales services across China and globally.  Founded in 1951, Yuchai has established a reputable brand name, built a strong research and development team, and achieved a significant market share in China. Known for its high-quality products and reliable after-sales support, Yuchai has also expanded its footprint into overseas markets.  In 2024, Yuchai sold 356,586 engines, further solidifying its position as a leading manufacturer and distributor of engines in China.  For more information, please visit http://www.cyilimited.com.

Safe Harbor Statement:

This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe”, “expect”, “anticipate”, “project”, “targets”, “optimistic”, “confident that”, “continue to”, “predict”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that may be deemed forward-looking statements. These forward-looking statements, including, but not limited to, statements concerning China Yuchai’s and the joint ventures’ operations, financial performance and condition, are based on current expectations, beliefs and assumptions which are subject to change at any time. China Yuchai cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors such as government and stock exchange regulations, competition, political, economic and social conditions around the world and in China, including those discussed in China Yuchai’s Form 20-Fs under the headings “Risk Factors”, “Results of Operations” and “Business Overview” and other reports filed with the Securities and Exchange Commission from time to time. All forward-looking statements are applicable only as of the date they are made and China Yuchai specifically disclaims any obligation to maintain or update the forward-looking information, whether of the nature contained in this release or otherwise, in the future.

For more information:

Investor Relations
Kevin Theiss
Tel: +1-212-510-8922
Email: cyd@bluefocus.com

New Oriental Announces Results for the First Fiscal Quarter Ended August 31, 2025

BEIJING, Oct. 28, 2025 /PRNewswire/ — New Oriental Education & Technology Group Inc. (the “Company” or “New Oriental”) (NYSE: EDU/ 9901.SEHK), a provider of private educational services in China, today announced its unaudited financial results for the first fiscal quarter ended August 31, 2025, which is the first quarter of New Oriental’s fiscal year 2026.

Financial Highlights for the First Fiscal Quarter Ended August 31, 2025

  • Total net revenues increased by 6.1% year over year to US$1,523.0 million for the first fiscal quarter of 2026.
  • Operating income increased by 6.0% year over year to US$310.8 million for the first fiscal quarter of 2026.
  • Net income attributable to New Oriental decreased by 1.9% year over year to US$240.7 million for the first fiscal quarter of 2026.

Key Financial Results 

(in thousands US$, except per ADS(1) data)

1Q FY2026

1Q FY2025

% of
change

Net revenues

1,522,980

1,435,416

6.1 %

Operating income

310,827

293,150

6.0 %

Non-GAAP operating income (2)(3)

335,543

301,448

11.3 %

Net income attributable to New Oriental

240,723

245,430

-1.9 %

Non-GAAP net income attributable to New Oriental (2)(3)

258,255

262,411

-1.6 %

Net income per ADS attributable to New Oriental – basic

1.52

1.49

1.8 %

Net income per ADS attributable to New Oriental – diluted

1.50

1.48

1.7 %

Non-GAAP net income per ADS attributable to New Oriental – basic (2)(3)(4)

1.63

1.59

2.2 %

Non-GAAP net income per ADS attributable to New Oriental – diluted (2)(3)(4)

1.61

1.58

2.1 %

(1)  Each ADS represents ten common shares. The Hong Kong-listed shares are fully fungible with the ADSs listed on NYSE.

(2)  GAAP represents Generally Accepted Accounting Principles in the United States of America.

(3)  New Oriental provides non-GAAP financial measures on net income attributable to New Oriental, operating income and net
income per ADS attributable to New Oriental that exclude share-based compensation expenses, amortization of intangible
assets resulting from business acquisitions, (gain)/loss from fair value change of investments, loss/(gain) from equity method
investments, impairment of long-term investments, impairment of goodwill, gain on disposals of investments and others, as
well as tax effects on non-GAAP adjustments. For further details on these adjustments, please refer to the section titled
“About Non-GAAP Financial Measures” and the tables captioned “Reconciliations of Non-GAAP Measures to the Most
Comparable GAAP Measures” set forth at the end of this release.

(4)  The Non-GAAP net income per ADS attributable to New Oriental is computed using Non-GAAP net income attributable to
New Oriental and the same number of shares and ADSs used in GAAP basic and diluted EPS calculation.

Operating Highlights for the First Fiscal Quarter Ended August 31, 2025

Michael Yu, New Oriental’s Executive Chairman, commented, “We are very pleased to begin the fiscal year 2026 with a healthy top-line growth of 6.1%, surpassing the upper end of our expected range. Notably, revenues from overseas test preparation and overseas study consulting businesses increased by approximately 1.0% and 2.0% year over year, respectively. In addition, the domestic test preparation business targeting adults and university students grew by approximately 14.4% year over year. Our new educational business initiatives recorded a revenue growth of 15.3% year over year. Our non-academic tutoring courses were offered in around 60 cities, attracting approximately 530,000 student enrollments during the quarter. Concurrently, our intelligent learning system and devices were adopted in around 60 cities, with approximately 452,000 active paid users. As we move forward in the current fiscal year, we will maintain our strategic direction, continuing to execute our long-term development strategy with an unwavering focus on enhancing our core education business. Building on our ongoing efforts, we will prioritize further enhancement to product capabilities and quality, systematic development of educational resources, and operational efficiency improvements. Our commitment to delivering exceptional client service, elevating our brand influence, and creating sustainable long-term value for our shareholders remains steadfast. We are confident that our strategic initiatives and dedication to excellence will drive continued growth in the years to come.”

Chenggang Zhou, New Oriental’s Chief Executive Officer, added, “During this fiscal quarter, we maintained a disciplined approach to capacity expansion, ensuring alignment between revenue growth and operational efficiency. In parallel, we focused on enhancing our OMO (online-merge-offline) teaching system and invested in the integration of AI technologies across our education ecosystem. The successful introduction of our AI-powered Intelligent Learning Device and Smart Study Solution is an important step forward in our efforts to enhance the learning experience and better support our students. Encouraged by the positive initial feedback, we remain committed to continuously refining these products and further embedding AI across our offerings to strengthen our core capabilities. In addition to enhancing our educational offerings, we are also expanding the application of AI to streamline internal operations, driving efficiency gain and elevating support for our teaching staff and employees. In this fiscal quarter, East Buy continued to invest in its strategic ‘healthy and high-quality’ private label products initiative, focusing on enriching product categories, achieving breakthrough innovations, and developing stable and widely applicable products. As a result, its private label products have become household staples, garnering increased market recognition and delivering exceptional quality and value to its customers.”

Stephen Zhihui Yang, New Oriental’s Executive President and Chief Financial Officer, commented, “Despite the challenges posed by the continued slowdown in our overseas businesses, we delivered a year over year improvement in our Non-GAAP operating margin, driven by our relentless focus on cost optimization and operational efficiency enhancements. This is reflected in our quarterly Non-GAAP operating margin of 22.0%, up by 100 basis points compared to the same period last fiscal year. Building on this momentum, we will continue to exercise this discipline and extend our cost and efficiency initiatives across all business lines for the remainder of the fiscal year, positioning ourselves for more sustainable and profitable growth.”

Update on Shareholder Return Plan

The Company’s board of directors (the “Board”) approved a three-year shareholder return plan on July 29, 2025, under which no less than 50% of the Company’s net income attributable to New Oriental for the preceding fiscal year will be dedicated to returning value to shareholders, commencing with the fiscal year 2026.

The Company has announced today that to implement the share return plan for the fiscal year 2026, the board of directors has approved an ordinary cash dividend and a new share repurchase program:

  • Ordinary cash dividend: the ordinary cash dividend of US$0.12 per common share, or US$1.2 per ADS, will be paid in two installments, with an aggregate amount of approximately US$190 million. The first installment, US$0.06 per common share, or US$0.6 per ADS, will be paid to holders of common shares and ADSs of record as of the close of business on November 18, 2025, Beijing/Hong Kong Time and New York Time, respectively. The second installment, US$0.06 per common share, or US$0.6 per ADS, is expected to be paid around six months after the payment date of the first installment to holders of common shares and ADSs of a record date to be further determined by the board of directors. Details of the second installment will be announced in due course.
  • Share repurchase program: Pursuant to the new share repurchase program, the Company may repurchase up to US$300 million of its ADSs or common shares over the next 12 months.

Financial Results for the First Fiscal Quarter Ended August 31, 2025

Net Revenues

For the first fiscal quarter of 2026, New Oriental reported net revenues of US$1,523.0 million, representing a 6.1% increase year over year. The growth was mainly driven by the increase in net revenues from the Company’s new educational business initiatives.

Operating Costs and Expenses

Operating costs and expenses for the quarter were US$1,212.2 million, representing a 6.1 % increase year over year.

  • Cost of revenues increased by 9.3 % year over year to US$637.8 million.
  • Selling and marketing expenses increased by 3.6 % year over year to US$200.6 million.
  • General and administrative expenses for the quarter increased by 2.4% year over year to US$373.8 million.

Total share-based compensation expenses, which were allocated to related operating costs and expenses, increased by 239.8% to US$23.3 million in the first fiscal quarter of 2026.

Operating Income and Operating Margin

Operating income was US$310.8 million, representing a 6.0% increase year over year. Non-GAAP income from operations for the quarter, excluding share-based compensation expenses and amortization of intangible assets resulting from business acquisitions, was US$335.5 million, representing an 11.3% increase year over year.

Operating margin for the quarter was 20.4%, compared to 20.4% in the same period of the prior fiscal year. Non-GAAP operating margin, which excludes share-based compensation expenses and amortization of intangible assets resulting from business acquisitions, for the quarter was 22.0%, compared to 21.0% in the same period of the prior fiscal year.

Net Income and Net Income per ADS

Net income attributable to New Oriental for the quarter was US$240.7 million, representing a 1.9% decrease year over year. Basic and diluted net income per ADS attributable to New Oriental were US$1.52 and US$1.50, respectively.

Non-GAAP Net Income and Non-GAAP Net Income per ADS

Non-GAAP net income attributable to New Oriental for the quarter, excluding share-based compensation expenses, amortization of intangible assets resulting from business acquisitions, (gain)/loss from fair value change of investments, loss/(gain) from equity method investments, as well as tax effects on non-GAAP adjustments, was US$258.3 million, representing a 1.6% decrease year over year. Non-GAAP basic and diluted net income per ADS attributable to New Oriental were US$1.63 and US$1.61, respectively.

Cash Flow

Net operating cash inflow for the first fiscal quarter of 2026 was approximately US$192.3 million and capital expenditures for the quarter were US$55.4 million.

Balance Sheet

As of August 31, 2025, New Oriental had cash and cash equivalents of US$1,282.3 million. In addition, the Company had US$1,570.2 million in term deposits and US$2,178.1 million in short-term investment.

New Oriental’s deferred revenue, which represents cash collected upfront from customers and related revenue that will be recognized as the services or goods are delivered, at the end of the first quarter of fiscal year 2026 was US$1,906.7 million, an increase of 10.0% as compared to US$1,733.1 million at the end of the first quarter of fiscal year 2025.

Outlook for the Second Quarter and Full Year of the Fiscal Year 2026

New Oriental expects total net revenues in the second quarter of the fiscal year 2026 (September 1, 2025 to November 30, 2025) to be in the range of US$1,132.1 million to US$1,163.3 million, representing year over year increase in the range of 9% to 12%.  

New Oriental confirms the previously provided guidance of total net revenues in the fiscal year 2026 (June 1, 2025 to May 31, 2026) to be in the range of US$5,145.3 million to US$5,390.3 million, representing a year over year increase in the range of 5% to 10%.

This forecast reflects New Oriental’s current and preliminary view, which is subject to change. The forecast is based on the current USD/RMB exchange rate, which is also subject to change. 

Conference Call Information

New Oriental’s management will host an earnings conference call at 8 AM on October 28, 2025, U.S. Eastern Time (8 PM on October 28, 2025, Beijing/Hong Kong Time). 

Please register in advance of the conference, using the link provided below. Upon registering, you will be provided with participant dial-in numbers, and unique personal PIN.

Conference call registration link:
https://register-conf.media-server.com/register/BIb9d756453ea343d59d489f9b00d73bf9.

It will automatically direct you to the registration page of “New Oriental FY2026 Q1 Earnings Conference Call” where you may fill in your details for RSVP.

In the 10 minutes prior to the call start time, you may use the conference access information (including dial in number(s) and personal PIN) provided in the confirmation email received at the point of registering.

Joining the conference call via a live webcast:

Additionally, a live and archived webcast of the conference call will be available at http://investor.neworiental.org.

Listening to the conference call replay:

A replay of the conference call may be accessed via the webcast on-demand by registering at https://edge.media-server.com/mmc/p/qn2a5drn first. The replay will be available until October 28, 2026.

About New Oriental

New Oriental is a provider of private educational services in China offering a wide range of educational programs, services and products to a varied student population throughout China. New Oriental’s program, service and product offerings mainly consist of educational services and test preparation courses, private label products and livestreaming e-commerce, overseas study consulting services, and educational materials and distribution. New Oriental is listed on NYSE (NYSE: EDU) and SEHK (9901.SEHK), respectively. New Oriental’s ADSs, each of which represents ten common shares, are listed and traded on the NYSE. The Hong Kong-listed shares are fully fungible with the ADSs listed on NYSE.

For more information about New Oriental, please visit http://www.neworiental.org/english/.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the outlook for the second quarter and full year of fiscal year 2026, quotations from management in this announcement, as well as New Oriental’s strategic and operational plans, contain forward-looking statements. New Oriental may also make written or oral forward-looking statements in its reports filed or furnished to the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about New Oriental’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s ability to effectively and efficiently manage changes of its existing business and new business; its ability to execute its business strategies; uncertainties in relation to the interpretation and implementation of or proposed changes to, the PRC laws, regulations and policies regarding the private education industry; its ability to attract students without a significant increase in course fees; its ability to maintain and enhance its “New Oriental” brand; its ability to maintain consistent teaching quality throughout its school network, or service quality throughout its brand; its ability to achieve the benefits it expects from recent and future acquisitions; the outcome of ongoing, or any future, litigation or arbitration, including those relating to copyright and other intellectual property rights; competition in the private education sector and livestreaming e-commerce business in China; the continuing efforts of its senior management team and other key personnel, health epidemics and other outbreaks in China; and general economic conditions in China. Further information regarding these and other risks is included in its annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. New Oriental does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release and in the attachments is as of the date of this press release, and New Oriental undertakes no duty to update such information, except as required under applicable law.

About Non-GAAP Financial Measures

To supplement New Oriental’s consolidated financial results presented in accordance with GAAP, New Oriental uses the following measures defined as non-GAAP financial measures by the SEC: net income excluding share-based compensation expenses, amortization of intangible assets resulting from business acquisitions, (gain)/loss from fair value change of investments, loss/(gain) from equity method investments, impairment of long-term investments and goodwill, gain on disposals of investments and others, as well as tax effects on non-GAAP adjustments; operating income excluding share-based compensation expenses, amortization of intangible assets resulting from business acquisitions, and impairment of goodwill; operating margin excluding share-based compensation expenses, amortization of intangible assets resulting from business acquisitions, and impairment of goodwill; and basic and diluted net income per ADS and per share excluding share-based compensation expenses, amortization of intangible assets resulting from business acquisitions, loss/(gain) from fair value change of investments, loss/(gain) from equity method investments, impairment of long-term investments and goodwill, gain on disposals of investments and others, as well as tax effects on non-GAAP adjustments. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the tables captioned “Reconciliations of non-GAAP measures to the most comparable GAAP measures” set forth at the end of this release.

New Oriental believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding from each non-GAAP measure certain items that may not be indicative of its operating performance from a cash perspective. New Oriental believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management’s internal comparisons to New Oriental’s historical performance and liquidity. New Oriental believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using these non-GAAP measures is that they exclude from each non-GAAP measure certain items that have been and will continue to be for the foreseeable future a significant recurring expense in its business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables have more details on the reconciliations between GAAP financial measures that are most directly comparable to non-GAAP financial measures.

Contacts

For investor and media inquiries, please contact:

Ms. Rita Fong

Ms. Sisi Zhao

FTI Consulting

New Oriental Education & Technology Group Inc.

Tel:        +852 3768 4548

Tel:         +86-10-6260-5568

Email:    rita.fong@fticonsulting.com

Email: zhaosisi@xdf.cn

 

 

NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

As of August 31

As of May 31

2025

2025

(Unaudited)

(Audited)

USD

USD

ASSETS:

Current assets:

Cash and cash equivalents

1,282,311

1,612,379

Restricted cash, current

167,983

180,724

Term deposits, current

1,208,370

1,092,115

Short-term investments

2,178,072

1,873,502

Accounts receivable, net

35,805

33,629

Inventory, net

86,283

80,884

Prepaid expenses and other current assets, net

345,064

307,902

Amounts due from related parties, current

6,709

6,567

Total current assets

5,310,597

5,187,702

Restricted cash, non-current

90,353

24,030

Term deposits, non-current

361,859

355,665

Property and equipment, net

808,635

767,346

Land use rights, net

55,175

54,900

Amounts due from related parties, non-current

12,509

12,464

Long-term deposits

49,457

48,815

Intangible assets, net

11,703

13,020

Goodwill, net

44,243

43,832

Long-term investments, net

394,015

388,481

Deferred tax assets, net

73,759

97,932

Right-of-use assets

786,541

793,842

Other non-current assets

14,079

17,470

Total assets

8,012,925

7,805,499

LIABILITIES AND EQUITY

Current liabilities:

Accounts payable

85,195

80,484

Accrued expenses and other current liabilities

746,059

830,583

Income taxes payable

213,425

167,881

Amounts due to related parties

317

405

Deferred revenue

1,906,668

1,954,464

Operating lease liability, current

260,219

255,997

Total current liabilities

3,211,883

3,289,814

Deferred tax liabilities

18,811

14,174

Unsecured senior notes

14,403

Operating lease liabilities, non-current

523,827

533,376

Total long-term liabilities

542,638

561,953

Total liabilities

3,754,521

3,851,767

Equity

  New Oriental Education & Technology Group Inc.
shareholders’ equity

3,952,677

3,661,873

  Non-controlling interests

305,727

291,859

Total equity

4,258,404

3,953,732

Total liabilities and equity

8,012,925

7,805,499

 

 

NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands except for per share and per ADS amounts)

For the Three Months Ended August 31

2025

2024

(Unaudited)

(Unaudited)

USD

USD

Net revenues

1,522,980

1,435,416

Operating cost and expenses (note 1)

Cost of revenues

637,795

583,521

Selling and marketing

200,576

193,692

General and administrative

373,782

365,053

Total operating cost and expenses

1,212,153

1,142,266

Operating income

310,827

293,150

Gain/(Loss) from fair value change of investments

7,786

(11,913)

Other income, net

20,610

39,087

Provision for income taxes

(91,542)

(77,551)

(Loss)/Gain from equity method investments

(158)

210

Net income

247,523

242,983

Net (income)/loss attributable to non-controlling interests

(6,800)

2,447

Net income attributable to New Oriental Education &
Technology Group Inc.’s shareholders

240,723

245,430

Net income per share attributable to New Oriental-
Basic (note 2)

0.15

0.15

Net income per share attributable to New Oriental-
Diluted (note 2)

0.15

0.15

Net income per ADS attributable to New Oriental-
Basic (note 2)

1.52

1.49

Net income per ADS attributable to New Oriental-
Diluted (note 2)

1.50

1.48

 

 

NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC.

RECONCILIATIONS OF NON-GAAP MEASURES TO THE MOST COMPARABLE GAAP MEASURES

(In thousands except for per share and per ADS amounts)

For the Three Months Ended August 31

2025

2024

(Unaudited)

(Unaudited)

USD

USD

Operating income

310,827

293,150

Share-based compensation expenses

23,284

6,853

Amortization of intangible assets resulting from
business acquisitions

1,432

1,445

Non-GAAP operating income

335,543

301,448

Operating margin

20.4 %

20.4 %

Non-GAAP operating margin

22.0 %

21.0 %

Net income attributable to New Oriental

240,723

245,430

Share-based compensation expenses

22,410

7,389

(Gain)/Loss from fair value change of investments

(7,786)

11,913

Amortization of intangible assets resulting from
business acquisitions

888

904

Loss/(Gain) from equity method investments

158

(210)

Tax effects on Non-GAAP adjustments

1,862

(3,015)

Non-GAAP net income attributable to New Oriental

258,255

262,411

Net income per ADS attributable to New
Oriental- Basic (note 2)

1.52

1.49

Net income per ADS attributable to New
Oriental- Diluted (note 2)

1.50

1.48

Non-GAAP net income per ADS attributable to
New Oriental – Basic (note 2)

1.63

1.59

Non-GAAP net income per ADS attributable to
New Oriental – Diluted (note 2)

1.61

1.58

Weighted average shares used in calculating
basic net income per ADS (note 2)

1,587,936,854

1,648,666,786

Weighted average shares used in calculating
diluted net income per ADS (note 2)

1,598,588,465

1,659,034,134

Net income per share – basic

0.15

0.15

Net income per share – diluted

0.15

0.15

Non-GAAP net income per share – basic

0.16

0.16

Non-GAAP net income per share – diluted

0.16

0.16

 

Notes:

Note 1: Share-based compensation expenses (in thousands) are included in the operating cost and
expenses as follows:

For the Three Months Ended August 31

2025

2024

(Unaudited)

(Unaudited)

USD

USD

Cost of revenues

213

(3,146)

Selling and marketing

611

(599)

General and administrative

22,460

10,598

Total

23,284

6,853

Note 2: Each ADS represents ten common shares.

 

 

NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

For the Three Months Ended August 31

2025

2024

(Unaudited)

(Unaudited)

USD

USD

Net cash provided by operating activities

192,318

183,210

Net cash used in investing activities

(451,712)

(295,156)

Net cash used in financing activities

(29,435)

(153,494)

Effect of exchange rate changes

12,343

27,487

Net change in cash, cash equivalents and restricted cash

(276,486)

(237,953)

Cash, cash equivalents and restricted cash at
beginning of period

1,817,133

1,589,104

Cash, cash equivalents and restricted cash at end of
period

1,540,647

1,351,151

 

MyRepublic Launches Exclusive Broadband Bundles featuring Disney Lorcana Trading Card Game


SINGAPORE – Media OutReach Newswire – 28 October 2025 – MyRepublic today announced the launch of two exclusive broadband bundles in collaboration with Disney Consumer Products to feature Disney Lorcana Trading Card Game (TCG). Disney Lorcana TCG is a trading card game set in the wondrous realm of Disney Lorcana, where players take on the role of Ilumineers and wield magic ink to summon a team of Disney characters, who appear in both familiar and fantastical ways. The collaboration coincides with the upcoming release of Disney Lorcana TCG: Whispers in the Well, the tenth set in the Disney Lorcana TCG series.

Disney Lorcana: Whispers in the Well
Disney Lorcana: Whispers in the Well

The collaboration highlights MyRepublic’s high-speed connectivity and one of the most anticipated trading card game expansions of the year, creating an integrated offering for both collectors and players in Singapore.

Two broadband promotional bundles will be introduced as part of this limited-time initiative. The Disney Lorcana TCG GAMER 3Gbps Plan, priced at S$48.99 per month, includes two Disney Lorcana TCG: Whispers in the Well Booster Boxes valued at S$384. Meanwhile, the Disney Lorcana TCG GAMER 10Gbps Plan, offered at S$61.99 per month with a one-time top-up of S$50, includes two Booster Boxes of the same value and a Wi-Fi 7 Router worth S$799. Both bundles combine MyRepublic’s high-performance broadband service with Disney Lorcana TCG product sets, delivering an integrated experience for collectors and gamers alike.

The first 30 customers to subscribe to any of the promotional bundles will receive a Disney Lorcana TCG playmat featuring artwork of Jasmine or The Brave Little Prince, worth $27.

The initiative underscores MyRepublic’s continued investment in Singapore’s gaming and trading card ecosystem, which further integrates premium connectivity with community-based entertainment experiences.

“Our collaboration with Disney Consumer Products to feature Disney Lorcana Trading Card Game aligns with MyRepublic’s focus on providing customers with differentiated, experience-driven connectivity solutions,” said Terry Williams, VP Consumer, MyRepublic. “We’re passionate about growing the trading card community, making it easier for anyone to get started, connect with others, and enjoy the game with friends and family.”

The Disney Lorcana TCG: Whispers in the Well broadband bundles will be available from 23 October 2025, exclusively via MyRepublic’s website and retail outlets while stocks last. For more information on Disney Lorcana TCG, please visit the official website, DisneyLorcana.com.

For more information on the bundles, please visit https://myrepublic.net/sg/disney-lorcana/

Hashtag: #MyRepublic #MyRepublicGAMER #MyRepublicxMTG #WhispersInTheWellBundle #GAMER #Broadband #GeeksUseUs





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MyRepublic Broadband Pte Ltd

MyRepublic is an award-winning telecom operator whose values lie in the future of connectivity, the next opportunity to disrupt, and innovations that will make a real difference. The provider’s priority is to redefine broadband and mobile connectivity in the markets it operates and empower customers to understand what a true modern connectivity experience can be.