Attapeu Province reported a revenue budget of over LAK 1,230 billion (USD 56.7 million) in the first nine months of 2025, reaching 116 percent of its planned target.
Attapeu Exceeds 2025 Revenue Budget Target with Strong Economic Growth
In Hangzhou, a New Soccer Tournament Aims to Kickstart China’s Football Future
HANGZHOU, China, Oct. 30, 2025 /PRNewswire/ — The inaugural “Qiantang Cup,” an international youth football invitational, wrapped up its debut this week in this eastern Chinese city, aiming to do more than just crown a champion. The event, part of a broader push to elevate China’s standing in the world’s most popular sport, culminated with a victory by Shanghai Shenhua in a tense final that went to penalties.
But beyond the pitch, the six-day tournament served as a stage for a more significant goal: fostering the international exchanges that Chinese football officials say are crucial for the nation’s development in the sport.
On Monday, the final day of competition, Shanghai Shenhua clinched the title by defeating the Regional Youth Training Center team 6-3 in a penalty shootout after a 2-2 draw in regular time. Uzbekistan’s Pakhtakor secured third place with a 3-0 win over France’s AJ Auxerre.
The following day, Chinese Football Association (CFA) President Song Kai struck a determined note at a related development forum. “For Chinese football to develop, exchange is essential,” Song told an audience of officials and youth training experts from abroad. “The participation of athletes from different countries provides an excellent opportunity for our youth.”
His comments underscore a long-standing challenge for China, which has invested heavily in its domestic football system but has yet to see its national teams consistently compete at the highest international levels. The tournament, featuring ten under-14 teams from China and abroad, represents a localized effort to bridge that gap by exposing young players and coaches to different styles of play and training philosophies.
For Hangzhou, designated a “National Key City for Football Development,” the event was a chance to test its organizational muscle and showcase its ambitions. The city is working to build a distinct identity within China’s football landscape, and officials hope the Qiantang Cup will become a fixture.
“The CFA is very pleased and gratified to see the efforts made by the local government in Zhejiang to enhance the football atmosphere,” Song said, signaling the national body’s approval of the local initiative.
The forum that followed his speech delved into the specifics of player development, featuring voices from some of the clubs and nations that participated. Among the speakers were former Chinese international striker Yang Xu, Choi Jin-ho of South Korea’s Jeonbuk Hyundai Motors, and the U18 head coach from France’s AJ Auxerre. Their discussions focused on the nuanced systems for nurturing elite youth talent—a key area where China seeks to improve.
The tournament itself, while new, displayed the hallmarks of a professionally run competition. The 25 matches were characterized by a high technical level, reflecting the growing focus on youth development globally. For the host city, the event provided a blueprint for future international engagements and a tangible platform for its young athletes.
The success of this first edition offers a glimmer of optimism. As the lights dim on the inaugural Qiantang Cup, Hangzhou’s hope is that the connections forged and the lessons learned on its fields will contribute to a longer, more challenging game: building a sustainable football future for China, one pass and one partnership at a time.
With critical minerals in focus at APEC, Australia and South Korea should explore new opportunities in sustainable food and agriculture
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GOLD COAST, Australia, Oct. 30, 2025 /PRNewswire/ — While critical minerals are set to dominate discussions at the APEC Summit, there’s another opportunity for Australia and South Korea to deepen ties – drawing on Australia’s strengths in sustainable agriculture and South Korea’s expertise in technology and innovation to advance the next wave of food and agricultural research.
On the back of attending the QS Higher Ed Summit in Seoul next week, Southern Cross University (SCU) researchers plan to explore this emerging opportunity, meeting with Korean universities and industry partners to identify new ways of working together in plant science, natural products and functional food research.
These are shared priorities for Australia and South Korea, both investing heavily in research and innovation to improve how food is produced and used. Agriculture and food trade between the two nations has grown significantly, exceeding AUD$5.6 billion annually.
Southern Cross University researcher Dr Kwanho Jeong, a crop scientist whose work helps develop stronger, more sustainable crops – from rice and macadamias in Australia to other high-value foods suited to changing climates across the Asia-Pacific – said the visit is a great opportunity to connect Australian agricultural research with Korea’s strong focus on technology and innovation
“By combining our strengths, we can help develop crops and products that are more resilient, more nutritious and better suited to future conditions,” he said.
“I also hope to create opportunities for Korean students to take part in research at Southern Cross University, building stronger exchange pathways and collaboration between our institutions.”
At the QS Higher Ed Summit, Professor Renaud Joannes-Boyau, Acting Deputy Vice-Chancellor (Research), will chair a regional panel on Transformational Leadership in Challenging Times, exploring how universities can stay mission-driven and adaptive, and how international collaboration can spark new ideas and build resilience.
“Southern Cross University has built its reputation on doing research that matters – work that helps communities adapt, industries grow, and partners thrive,” said Professor Joannes-Boyau.
“The challenges facing higher education demand leadership that is adaptive, inclusive and focused on real impact. The conversations in Seoul are an opportunity to explore how we build that kind of future together.”
The Seoul visit follows SCU’s QS Five-Star rating, with five stars for Employability with graduate employment rates above 90 per cent (Graduate Outcomes Survey 2025).
J Hotel Shanghai Tower Unveils “Autumn’s Finest”, a Seasonal Hairy Crab Feast Crafted by Huaiyang Master Chef Zhou Xiaoyan
SHANGHAI, Oct. 30, 2025 /PRNewswire/ — As autumn paints Shanghai in shades of gold, J Hotel Shanghai Tower, perched atop China’s tallest building, introduces a limited-time “Hairy Crab Set Menu” at Heavenly Jin. Created in collaboration with Master Chef Zhou Xiaoyan, an inheritor of China’s Intangible Cultural Heritage in Huaiyang cuisine, the restaurant celebrates the season’s finest flavors. Guests are invited to dine above the clouds, where culinary craftsmanship meets breathtaking skyline views in a poetic encounter of tradition and innovation.
Heavenly Jin: Where Culinary Art Meets the Shanghai Skyline
Located on the 120th floor of Shanghai Tower, Heavenly Jin holds the Guinness World Records as the highest restaurant in a building. It reimagines the elegance of Jiangnan cuisine through a modern lens, combining refined techniques with artistic presentation. From every table, guests can take in pleasing panoramas of the city, the glittering towers of Lujiazui, the winding curves of the Huangpu River, and the far horizon where the Yangtze meets the sea. Here, dining becomes an experience suspended between sky and flavor, a quiet dialogue between cuisine and the city below.
Master Chef Zhou Xiaoyan: The Voice of Huaiyang Cuisine Heritage
Autumn in China has long been a season of flavor and reflection, a time to savor, gather, and enjoy the richness of the harvest. As the Inheritor of China’s Intangible Cultural Heritage in Huaiyang Cuisine and Culinary Consultant of Heavenly Jin, Chef Zhou Xiaoyan transforms this timeless culinary tradition into a modern expression of artistry and taste.
With nearly five decades of mastery, Chef Zhou brings the precision and poetry of Huaiyang cuisine to life, crafting each dish as both a feast and a story of the season. This “Hairy Crab Set Menu” uses premium hairy crabs from Yangcheng Lake, paired with seasonal ingredients like osmanthus, chrysanthemum, fish maw, and peanut sprouts etc. Each dish captures the poetry of the season and the craftsmanship of fine Chinese dining.
This seasonal tasting journey presents a series of exquisite dishes inspired by autumn’s bounty. Highlights include Amber Elegance, a delicate tofu sphere filled with crab roe and crab meat in a light jackfruit broth, balancing richness with gentle sweetness; Chrysanthemum Grace, wok-fried fish maw with crab oil and pickled peanut sprouts, topped with chrysanthemum petals for a subtle floral note; Golden Reunion, braised sturgeon tendon and bird’s nest cooked with rich crab roe, symbolizing prosperity and grace; and Steamed Hairy Crab with Osmanthus and Chinese Yellow Wine, where the natural sweetness of the crab is enhanced by the mellow fragrance of aged Chinese rice wine and the floral perfume of osmanthus blossoms.
From October 28th to December 8th, 2025, this exquisite autumn tasting menu is available at Heavenly Jin, priced at RMB 1,888 per person, subject to a 15% service charge. And guests may enhance the experience with an optional pairing of Gu Yue Long Shan 1959 Green Jade 20-Year Shaoxing Wine, with its rich aroma and smooth finish. This vintage Chinese rice wine complements the sweetness of crab meat and the creaminess of roe, creating a pairing deeply rooted in Chinese culinary tradition yet refined for the modern palate.
For reservations of the limited-time “Hairy Crab Set Menu”, please call +86 21 3886 8989. For a memorable stay experience above the clouds, visit the official Jin Jiang Rewards, Radisson Rewards, www.jhotel-shanghai.com or contact info@jhotel-shanghai.com.
ABOUT JIN JIANG RADISSON HOTELS
Established under Jin Jiang International Group, Jin Jiang Radisson Hotels is a business structure formed by Jin Jiang International Hotel Management Co., Ltd. and Radisson Hotel Group China. Jin Jiang Radisson Hotels provides a complete hospitality solution for luxury and high-end hotels, creating outstanding value and exceptional stay experience for guests while meeting the evolving needs of tourism industry.
The portfolio of Jin Jiang Radisson Hotels comprises of 10 brands: J, Yan Garden, Kunlun, Jin Jiang Hotel, Radisson Collection, Radisson Blu, Radisson, Radisson Individuals, Park Plaza, and Golden Tulip.
Jin Jiang Radisson Hotels offers dual loyalty programs: Jin Jiang Rewards and Radisson Rewards, tailormade for domestic and international guests. Our loyalty programs are designed to deliver an elevated experience that makes Every Moment Matter, offering exclusive privileges and benefits to our valued members.
ABOUT J
Above All Else
J is an important milestone for Jin Jiang International, being the first Chinese company successfully developed a top-of-class “Chinese global brand”. Meticulously crafted over the course of years, J brand inherits the essence of “Benevolence” advocated by Chinese Confucianism, conveying the cultural sentiment of “Like a Gentleman, with a Benevolent Heart”.
The letter “J” is derived from the phonetic sound of the Chinese character “锦” (Jin), sharing the same initial letter as “Jin Jiang”, thereby reflecting the close connection between the J brand and the Jin Jiang brand. The design inspiration for the J logo originates from the blooming magnolia, the official flower of Shanghai. The goal of J is to establish itself as a top global Chinese hotel brand positioned at the pinnacle of global hotel brands, originating from Shanghai and blooming worldwide.
TAL Education Group Announces Unaudited Financial Results for the Second Fiscal Quarter Ended August 31, 2025 and Issues Notice of Annual General Meeting
BEIJING, Oct. 30, 2025 /PRNewswire/ — TAL Education Group (NYSE: TAL) (“TAL” or the “Company”), a smart learning solutions provider in China, today announced its unaudited financial results for the second quarter of fiscal year 2026 ended August 31, 2025 and issued notice of Annual General Meeting.
Highlights for the Second Quarter of Fiscal Year 2026
- Net revenues were US$861.4 million, compared to net revenues of US$619.4 million in the same period of the prior year.
- Income from operations was US$96.1 million, compared to income from operations of US$47.6 million in the same period of the prior year.
- Non-GAAP income from operations, which excluded share-based compensation expenses, was US$107.8 million, compared to non-GAAP income from operations of US$64.5 million in the same period of the prior year.
- Net income attributable to TAL was US$124.1 million, compared to net income attributable to TAL of US$57.4 million in the same period of the prior year.
- Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$135.8 million, compared to non-GAAP net income attributable to TAL of US$74.3 million in the same period of the prior year.
- Basic net income per American Depositary Share (“ADS”) was US$0.22, and diluted net income per ADS was US$0.21. Non-GAAP basic and diluted net income per ADS, which excluded share-based compensation expenses, were both US$0.24. Three ADSs represent one Class A common share.
- Cash, cash equivalents and short-term investments totaled US$3,248.8 million as of August 31, 2025, compared to US$3,618.4 million as of February 28, 2025.
Highlights for the Six Months Ended August 31, 2025
- Net revenues were US$1,436.4 million, compared to net revenues of US$1,033.5 million in the same period of the prior year.
- Income from operations was US$110.4 million, compared to income from operations of US$30.3 million in the same period of the prior year.
- Non-GAAP income from operations, which excluded share-based compensation expenses, was US$133.0 million, compared to non-GAAP income from operations of US$65.4 million in the same period of the prior year.
- Net income attributable to TAL was US$155.4 million, compared to net income attributable to TAL of US$68.8 million in the same period of the prior year.
- Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$177.9 million, compared to non-GAAP net income attributable to TAL of US$103.9 million in the same period of the prior year.
- Basic and diluted net income per ADS were both US$0.26. Non-GAAP basic and diluted net income per ADS, which excluded share-based compensation expenses, were both US$0.30.
Financial Data——Second Quarter and First Six Months of Fiscal Year 2026
(In US$ thousands, except per ADS data and percentages)
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Three Months Ended |
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|
August 31, |
|||
|
2024 |
2025 |
Pct. Change |
|
|
Net revenues |
619,361 |
861,353 |
39.1 % |
|
Income from operations |
47,622 |
96,097 |
101.8 % |
|
Non-GAAP income from operations |
64,520 |
107,849 |
67.2 % |
|
Net income attributable to TAL |
57,431 |
124,084 |
116.1 % |
|
Non-GAAP net income attributable to TAL |
74,329 |
135,836 |
82.7 % |
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Net income per ADS attributable to TAL – basic |
0.09 |
0.22 |
129.6 % |
|
Net income per ADS attributable to TAL – diluted |
0.09 |
0.21 |
130.0 % |
|
Non-GAAP net income per ADS attributable to |
0.12 |
0.24 |
94.2 % |
|
Non-GAAP net income per ADS attributable to |
0.12 |
0.24 |
94.6 % |
|
Six Months Ended |
|||
|
August 31, |
|||
|
2024 |
2025 |
Pct. Change |
|
|
Net revenues |
1,033,548 |
1,436,352 |
39.0 % |
|
Income from operations |
30,292 |
110,443 |
264.6 % |
|
Non-GAAP income from operations |
65,396 |
132,958 |
103.3 % |
|
Net income attributable to TAL |
68,833 |
155,366 |
125.7 % |
|
Non-GAAP net income attributable to TAL |
103,937 |
177,881 |
71.1 % |
|
Net income per ADS attributable to TAL – basic |
0.11 |
0.26 |
132.4 % |
|
Net income per ADS attributable to TAL – diluted |
0.11 |
0.26 |
133.1 % |
|
Non-GAAP net income per ADS attributable to |
0.17 |
0.30 |
76.2 % |
|
Non-GAAP net income per ADS attributable to |
0.17 |
0.30 |
76.7 % |
“We delivered progress across our core businesses in the second quarter of fiscal year 2026. Both our enrichment learning programs and learning devices contributed to revenue growth, sequentially and year-over-year. Ongoing investments in user experience, technology, and educational model innovations continue to drive this momentum.” said Alex Peng, TAL’s President and Chief Financial Officer.
Mr. Peng added, “Strategically, we will continue to allocate resources on key areas critical to achieving sustainable growth. Our goal is to deliver transformative learning solutions that empower students’ holistic development while expanding access to high-quality educational content. “
Financial Results for the Second Quarter of Fiscal Year 2026
Net Revenues
In the second quarter of fiscal year 2026, TAL reported net revenues of US$861.4 million, representing a 39.1% increase from US$619.4 million in the second quarter of fiscal year 2025.
Operating Costs and Expenses
In the second quarter of fiscal year 2026, operating costs and expenses were US$766.7 million, representing a 34.0% increase from US$572.0 million in the second quarter of fiscal year 2025. Non-GAAP operating costs and expenses, which excluded share-based compensation expenses, were US$755.0 million, representing a 36.0% increase from US$555.1 million in the second quarter of fiscal year 2025.
Cost of revenues increased by 36.8% to US$370.3 million from US$270.6 million in the second quarter of fiscal year 2025. Non-GAAP cost of revenues, which excluded share-based compensation expenses, increased by 37.6% to US$369.8 million, from US$268.8 million in the second quarter of fiscal year 2025.
Selling and marketing expenses increased by 46.9% to US$267.3 million from US$181.9 million in the second quarter of fiscal year 2025. Non-GAAP selling and marketing expenses, which excluded share-based compensation expenses, increased by 48.6% to US$264.4 million, from US$177.9 million in the second quarter of fiscal year 2025.
General and administrative expenses increased by 8.0% to US$129.1 million from US$119.5 million in the second quarter of fiscal year 2025. Non-GAAP general and administrative expenses, which excluded share-based compensation expenses, increased by 11.5% to US$120.8 million, from US$108.3 million in the second quarter of fiscal year 2025.
Total share-based compensation expenses allocated to the related operating costs and expenses decreased by 30.5% to US$11.8 million in the second quarter of fiscal year 2026 from US$16.9 million in the same period of fiscal year 2025.
Gross Profit
Gross profit increased by 40.8% to US$491.0 million from US$348.7 million in the second quarter of fiscal year 2025. The gross margin for the second quarter of fiscal year 2026 was 57.0%, compared to 56.3% in the same period of the prior year.
Income from Operations
Income from operations was US$96.1 million in the second quarter of fiscal year 2026, compared to income from operations of US$47.6 million in the second quarter of fiscal year 2025. Non-GAAP income from operations, which excluded share-based compensation expenses, was US$107.8 million, compared to Non-GAAP income from operations of US$64.5 million in the same period of the prior year.
Other Income
Other income was US$67.1 million for the second quarter of fiscal year 2026, compared to other income of US$20.5 million in the second quarter of fiscal year 2025.
Impairment Loss on Long-term Investments
Impairment loss on long-term investment was US$1.4 million for the second quarter of fiscal year 2026, compared to US$4.9 million in the same period of fiscal year 2025.
Income Tax Expense
Income tax expense was US$51.1 million in the second quarter of fiscal year 2026, compared to US$25.6 million of income tax expense in the second quarter of fiscal year 2025.
Net Income attributable to TAL Education Group
Net income attributable to TAL was US$124.1 million in the second quarter of fiscal year 2026, compared to net income attributable to TAL of US$57.4 million in the second quarter of fiscal year 2025. Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$135.8 million, compared to Non-GAAP net income attributable to TAL of US$74.3 million in the second quarter of fiscal year 2025.
Basic and Diluted Net Income per ADS
Basic net income per ADS was US$0.22, and diluted net income per ADS was US$0.21 in the second quarter of fiscal year 2026. Non-GAAP basic and diluted net income per ADS, which excluded share-based compensation expenses, were both US$0.24 in the second quarter of fiscal year 2026.
Cash Flow
Net cash used in operating activities for the second quarter of fiscal year 2026 was US$58.1 million.
Cash, Cash Equivalents, and Short-Term Investments
As of August 31, 2025, the Company had US$1,542.2 million of cash and cash equivalents and US$1,706.6 million of short-term investments, compared to US$1,771.3 million of cash and cash equivalents and US$1,847.1 million of short-term investments as of February 28, 2025.
Deferred Revenue
As of August 31, 2025, the Company’s deferred revenue balance was US$822.7 million, compared to US$671.2 million as of February 28, 2025.
Financial Results for the First Six Months of Fiscal Year 2026
Net Revenues
For the first six months of fiscal year 2026, TAL reported net revenues of US$1,436.4 million, representing a 39.0% increase from US$1,033.5 million in the first six months of fiscal year 2025.
Operating Costs and Expenses
In the first six months of fiscal year 2026, operating costs and expenses were US$1,328.2 million, representing a 32.3% increase from US$1,004.1 million in the first six months of fiscal year 2025. Non-GAAP operating costs and expenses, which excluded share-based compensation expenses, were US$1,305.7 million, representing a 34.7% increase from US$969.0 million in the first six months of fiscal year 2025.
Cost of revenues increased by 33.8% to US$629.9 million from US$470.6 million in the first six months of fiscal year 2025. Non-GAAP cost of revenues, which excluded share-based compensation expenses, increased by 34.8% to US$628.8 million from US$466.5 million in the first six months of fiscal year 2025 .
Selling and marketing expenses increased by 47.2% to US$448.1 million from US$304.3 million in the first six months of fiscal year 2025. Non-GAAP selling and marketing expenses, which excluded share-based compensation expenses, increased by 49.4% to US$442.1 million from US$296.0 million in the first six months of fiscal year 2025.
General and administrative expenses increased by 9.2% to US$250.2 million from US$229.2 million in the first six months of fiscal year 2025. Non-GAAP general and administrative expenses, which excluded share-based compensation expenses, increased by 13.7% to US$234.8 million from US$206.6 million in the first six months of fiscal year 2025.
Total share-based compensation expenses allocated to the related operating costs and expenses decreased by 35.9% to US$22.5 million in the first six months of fiscal year 2026 from US$35.1 million in the same period of fiscal year 2025.
Gross Profit
Gross profit increased by 43.3% to US$806.4 million from US$562.9 million in the first six months of fiscal year 2025. The gross margin for the first six months of fiscal year 2026 was 56.1%, compared to 54.5% in the same period of the prior year.
Income from Operations
Income from operations was US$110.4 million in the first six months of fiscal year 2026, compared to income from operations of US$30.3 million in the same period of the prior year. Non-GAAP income from operations, which excluded share-based compensation expenses, was US$133.0 million, compared to US$65.4 million Non-GAAP income from operations in the same period of the prior year.
Other Income
Other income was US$76.5 million for the first six months of fiscal year 2026, compared to other income of US$33.6 million in the same period of the prior year.
Impairment Loss on Long-term Investments
Impairment loss on long-term investments was US$1.4 million for the first six months of fiscal year 2026, compared to US$8.7 million for the first six months of fiscal year 2025.
Income Tax Expense
Income tax expense was US$62.2 million in the first six months of fiscal year 2026, compared to US$27.9 million for the first six months of fiscal year 2025.
Net Income Attributable to TAL Education Group
Net income attributable to TAL was US$155.4 million in the first six months of fiscal year 2026, compared to net income attributable to TAL of US$68.8 million in the first six months of fiscal year 2025. Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$177.9 million, compared to US$103.9 million Non-GAAP income attributable to TAL in the same period of the prior year.
Basic and Diluted Net Income per ADS
Basic and diluted net income per ADS were both US$0.26 in the first six months of fiscal year 2026. Non-GAAP basic and diluted net income per ADS, which excluded share-based compensation expenses, were both US$0.30 in the first six months of fiscal year 2026.
Cash Flow
Net cash provided by operating activities for the first six months of fiscal year 2026 was US$289.7 million.
Share Repurchase
On July 28, 2025, TAL’s board of directors authorized a new share repurchase program under which the Company may repurchase up to US$600 million of the Company’s common shares over the next 12 months. Between July 31 and October 29, 2025, the Company has repurchased 4,195,065 common shares at an aggregate consideration of approximately US$134.7 million.
TAL to Hold Annual General Meeting on November 14, 2025
The Company announced that it will hold its annual general meeting of shareholders (the “AGM”) at TAL Building No.1, Courtyard No. 9, Qixin Middle Street, Changping District, Beijing, China, on November 14, 2025 at 3:00PM (Beijing time). No proposal will be submitted to shareholders for approval at the AGM. Instead, the AGM will serve as an open forum for shareholders and beneficial owners of the Company’s ADSs to discuss Company’s affairs with management.
The board of directors of the Company has fixed the close of business on November 3, 2025 (Eastern Standard Time) as the record date (the “Record Date”). Holders of record of the Company’s common shares at the close of business on the Record Date are entitled to notice of the AGM and any adjournment or postponement thereof. Beneficial owners of the Company’s ADSs are welcome to attend the AGM in person.
The notice of the AGM is available on the Investor Relations section of the Company’s website at https://ir.100tal.com/. The Company has filed its annual report on Form 20-F (the “Annual Report”), which includes the Company’s audited financial statements for the fiscal year ended February 28, 2025, with the U.S. Securities and Exchange Commission (the “SEC”). The Company’s Annual Report can be accessed on the Investor Relations section of its website at https://ir.100tal.com, as well as on the SEC’s website at http://www.sec.gov.
Conference Call
The Company will host a conference call and live webcast to discuss its financial results for the second fiscal quarter of fiscal year 2026 ended August 31, 2025 at 8:00 a.m. Eastern Time on October 30, 2025 (8:00 p.m. Beijing time on October 30, 2025).
Please note that you will need to pre-register for conference call participation at https://register-conf.media-server.com/register/BId11d22b63571450197297e0a9753b9bd.
Upon registration, you will receive an email containing participant dial-in numbers and unique Direct Event Passcode. This information will allow you to gain immediate access to the call. Participants may pre-register at any time, including up to and after the call start time.
A live and archived webcast of the conference call will be available on the Investor Relations section of TAL’s website at https://ir.100tal.com/.
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, TAL Education Group’s strategic and operational plans contain forward-looking statements. The Company may also make written or oral forward-looking statements in its reports filed with, 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 the Company’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 continue to provide competitive learning services and products; the Company’s ability to continue to recruit, train and retain talents; the Company’s ability to improve the content of current course offerings and develop new courses; the Company’s ability to maintain and enhance its brand; the Company’s ability to maintain and continue to improve its teaching results; and the Company’s ability to compete effectively against its competitors. Further information regarding these and other risks is included in the Company’s reports filed with, or furnished to the U.S. Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of this press release, and TAL Education Group undertakes no duty to update such information or any forward-looking statement, except as required under applicable law.
About TAL Education Group
TAL Education Group is a smart learning solutions provider in China. The acronym “TAL” stands for “Tomorrow Advancing Life”, which reflects our vision to promote top learning opportunities for students through both high-quality teaching and content, as well as leading edge application of technology in the education experience. TAL Education Group offers comprehensive learning solutions to students from all ages through diversified class formats. Our learning solutions mainly cover enrichment learnings programs and some academic subjects in and out of China. Our ADSs trade on the New York Stock Exchange under the symbol “TAL”.
About Non-GAAP Financial Measures
In evaluating its business, TAL considers and uses the following measures defined as non-GAAP financial measures by the SEC as supplemental metrics to review and assess its operating performance: non-GAAP cost of revenues, non-GAAP selling and marketing expenses, non-GAAP general and administrative expenses, non-GAAP operating costs and expenses, non-GAAP income from operations, non-GAAP net income attributable to TAL, non-GAAP basic and non-GAAP diluted net income per ADS. To present each of these non-GAAP measures, the Company excludes share-based compensation expenses. 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 table captioned “Reconciliations of non-GAAP measures to the most comparable GAAP measures” set forth at the end of this release.
TAL believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding share-based compensation expenses that may not be indicative of its operating performance from a cash perspective. TAL believes that both management and investors benefit from 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 TAL’s historical performance and liquidity. TAL computes its non-GAAP financial measures using the same consistent method from quarter to quarter and from period to period. TAL 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 non-GAAP measures is that these non-GAAP measures exclude share-based compensation charges that have been and will continue to be for the foreseeable future a significant recurring expense in the Company’s 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.
For further information, please contact:
Jackson Ding
Investor Relations
TAL Education Group
Tel: +86 10 5292 6669-8809
Email: ir@tal.com
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TAL EDUCATION GROUP |
||||
|
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS |
||||
|
(In thousands of U.S. dollars) |
||||
|
As of February 28, |
As of August 31, |
|||
|
ASSETS |
||||
|
Current assets |
||||
|
Cash and cash equivalents |
$ 1,771,260 |
$ 1,542,194 |
||
|
Restricted cash, current |
187,846 |
205,973 |
||
|
Short-term investments |
1,847,120 |
1,706,603 |
||
|
Inventory, net |
104,876 |
133,021 |
||
|
Amounts due from related parties, current |
37 |
28 |
||
|
Prepaid expenses and other current assets |
215,781 |
264,313 |
||
|
Total current assets |
4,126,920 |
3,852,132 |
||
|
Restricted cash, non-current |
32,625 |
33,242 |
||
|
Property and equipment, net |
472,366 |
499,833 |
||
|
Deferred tax assets |
3,487 |
1,741 |
||
|
Rental deposits |
22,131 |
25,273 |
||
|
Intangible assets, net |
394 |
48,382 |
||
|
Goodwill |
155 |
45,704 |
||
|
Land use rights, net |
182,880 |
184,640 |
||
|
Amounts due from related parties, non-current |
96 |
98 |
||
|
Long-term investments |
305,105 |
367,111 |
||
|
Long-term prepayments and other non-current assets |
27,844 |
28,194 |
||
|
Operating lease right-of-use assets |
329,064 |
366,289 |
||
|
Total assets |
$ 5,503,067 |
$ 5,452,639 |
||
|
LIABILITIES AND EQUITY |
||||
|
Current liabilities |
||||
|
Accounts payable |
$ 146,300 |
$ 157,374 |
||
|
Deferred revenue, current |
624,272 |
777,669 |
||
|
Amounts due to related parties, current |
93 |
89 |
||
|
Accrued expenses and other current liabilities |
582,227 |
649,957 |
||
|
Operating lease liabilities, current |
88,453 |
103,780 |
||
|
Total current liabilities |
1,441,345 |
1,688,869 |
||
|
Deferred revenue, non-current |
46,955 |
44,984 |
||
|
Deferred tax liabilities |
3,474 |
13,737 |
||
|
Operating lease liabilities, non-current |
244,895 |
269,551 |
||
|
Total liabilities |
1,736,669 |
2,017,141 |
||
|
Equity |
||||
|
Class A common shares |
154 |
154 |
||
|
Class B common shares |
49 |
49 |
||
|
Treasury stock |
– |
(17) |
||
|
Additional paid-in capital |
4,294,819 |
3,781,362 |
||
|
Statutory reserve |
179,537 |
177,230 |
||
|
Accumulated deficit |
(624,078) |
(466,405) |
||
|
Accumulated other comprehensive loss |
(83,914) |
(56,586) |
||
|
Total TAL Education Group’s equity |
3,766,567 |
3,435,787 |
||
|
Non-controlling interests |
(169) |
(289) |
||
|
Total equity |
3,766,398 |
3,435,498 |
||
|
Total liabilities and equity |
$ 5,503,067 |
$ 5,452,639 |
||
|
TAL EDUCATION GROUP |
|||||||
|
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
|||||||
|
(In thousands of U.S. dollars, except share, ADS, per share and per ADS data) |
|||||||
|
For the Three Months Ended |
For the Six Months Ended August 31, |
||||||
|
2024 |
2025 |
2024 |
2025 |
||||
|
Net revenues |
$ 619,361 |
$ 861,353 |
$ 1,033,548 |
$ 1,436,352 |
|||
|
Cost of revenues (note 1) |
270,632 |
370,340 |
470,640 |
629,911 |
|||
|
Gross profit |
348,729 |
491,013 |
562,908 |
806,441 |
|||
|
Operating expenses (note 1) |
|||||||
|
Selling and marketing |
181,900 |
267,286 |
304,328 |
448,059 |
|||
|
General and administrative |
119,499 |
129,107 |
229,181 |
250,226 |
|||
|
Total operating expenses |
301,399 |
396,393 |
533,509 |
698,285 |
|||
|
Government subsidies |
292 |
1,477 |
893 |
2,287 |
|||
|
Income from operations |
47,622 |
96,097 |
30,292 |
110,443 |
|||
|
Interest income, net |
20,397 |
14,161 |
42,919 |
32,883 |
|||
|
Other income |
20,466 |
67,076 |
33,617 |
76,548 |
|||
|
Impairment loss on long-term |
(4,925) |
(1,410) |
(8,692) |
(1,410) |
|||
|
Income before income tax |
83,560 |
175,924 |
98,136 |
218,464 |
|||
|
Income tax expense |
(25,635) |
(51,080) |
(27,930) |
(62,158) |
|||
|
Loss from equity method |
(587) |
(819) |
(1,572) |
(1,074) |
|||
|
Net income |
57,338 |
124,025 |
68,634 |
155,232 |
|||
|
Add: Net loss attributable to |
93 |
59 |
199 |
134 |
|||
|
Total net income attributable to |
$ 57,431 |
$ 124,084 |
$ 68,833 |
$ 155,366 |
|||
|
Net income per common share |
|||||||
|
Basic |
$ 0.28 |
$ 0.65 |
$ 0.34 |
$ 0.79 |
|||
|
Diluted |
0.28 |
0.64 |
0.34 |
0.78 |
|||
|
Net income per ADS (note 2) |
|||||||
|
Basic |
$ 0.09 |
$ 0.22 |
$ 0.11 |
$ 0.26 |
|||
|
Diluted |
0.09 |
0.21 |
0.11 |
0.26 |
|||
|
Weighted average shares used in |
|||||||
|
Basic |
201,768,916 |
189,830,408 |
201,668,024 |
195,905,541 |
|||
|
Diluted |
204,949,839 |
192,494,611 |
205,166,141 |
198,687,649 |
|||
|
Note1: Share-based compensation expenses are included in the operating costs and expenses as follows: |
|||||||
|
For the Three Months |
For the Six Months |
||||||
|
Ended August 31, |
Ended August 31, |
||||||
|
2024 |
2025 |
2024 |
2025 |
||||
|
Cost of revenues |
$ 1,793 |
$ 503 |
$ 4,155 |
$ 1,125 |
|||
|
Selling and marketing expenses |
3,953 |
2,905 |
8,328 |
5,976 |
|||
|
General and administrative expenses |
11,152 |
8,344 |
22,621 |
15,414 |
|||
|
Total |
$ 16,898 |
$ 11,752 |
$ 35,104 |
$ 22,515 |
|||
|
Note 2: Three ADSs represent one Class A common Share. |
|||||||
|
TAL EDUCATION GROUP |
|||||||
|
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF |
|||||||
|
COMPREHENSIVE INCOME |
|||||||
|
(In thousands of U.S. dollars) |
|||||||
|
For the Three Months Ended August 31, |
For the Six Months Ended August 31, |
||||||
|
2024 |
2025 |
2024 |
2025 |
||||
|
Net income |
$ 57,338 |
$ 124,025 |
$ 68,634 |
$ 155,232 |
|||
|
Other comprehensive income, |
24,744 |
11,355 |
17,164 |
27,342 |
|||
|
Comprehensive income |
82,082 |
135,380 |
85,798 |
182,574 |
|||
|
Add: Comprehensive loss |
2,378 |
53 |
2,333 |
120 |
|||
|
Comprehensive income |
$ 84,460 |
$ 135,433 |
$ 88,131 |
$ 182,694 |
|||
|
TAL EDUCATION GROUP |
|||||||
|
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF |
|||||||
|
CASH FLOWS |
|||||||
|
(In thousands of U.S. dollars) |
|||||||
|
For the Three Months Ended August 31, |
For the Six Months Ended August 31, |
||||||
|
2024 |
2025 |
2024 |
2025 |
||||
|
Net cash (used in)/provided by |
$ (576) |
$ (58,095) |
$ 246,217 |
$ 289,690 |
|||
|
Net cash (used in)/provided by |
(193,669) |
563,331 |
(318,304) |
36,022 |
|||
|
Net cash used in financing |
(6,799) |
(281,885) |
(6,794) |
(535,989) |
|||
|
Effect of exchange rate |
3,576 |
(328) |
2,359 |
(45) |
|||
|
Net (decrease)/increase in |
(197,468) |
223,023 |
(76,522) |
(210,322) |
|||
|
Cash, cash equivalents and |
$ 2,578,422 |
$ 1,558,386 |
$ 2,457,476 |
$ 1,991,731 |
|||
|
Cash, cash equivalents and |
$ 2,380,954 |
$ 1,781,409 |
$ 2,380,954 |
$ 1,781,409 |
|||
|
TAL EDUCATION GROUP |
|||||||
|
Reconciliation of Non-GAAP Measures to the Most Comparable GAAP Measures |
|||||||
|
(In thousands of U.S. dollars, except share, ADS, per share and per ADS data) |
|||||||
|
For the Three Months Ended August 31, |
For the Six Months |
||||||
|
2024 |
2025 |
2024 |
2025 |
||||
|
Cost of revenues |
$ 270,632 |
$ 370,340 |
$ 470,640 |
$ 629,911 |
|||
|
Share-based compensation expense |
1,793 |
503 |
4,155 |
1,125 |
|||
|
Non-GAAP cost of revenues |
268,839 |
369,837 |
466,485 |
628,786 |
|||
|
Selling and marketing expenses |
181,900 |
267,286 |
304,328 |
448,059 |
|||
|
Share-based compensation expense |
3,953 |
2,905 |
8,328 |
5,976 |
|||
|
Non-GAAP selling and marketing |
177,947 |
264,381 |
296,000 |
442,083 |
|||
|
General and administrative |
119,499 |
129,107 |
229,181 |
250,226 |
|||
|
Share-based compensation expense |
11,152 |
8,344 |
22,621 |
15,414 |
|||
|
Non-GAAP general and |
108,347 |
120,763 |
206,560 |
234,812 |
|||
|
Operating costs and expenses |
572,031 |
766,733 |
1,004,149 |
1,328,196 |
|||
|
Share-based compensation expense |
16,898 |
11,752 |
35,104 |
22,515 |
|||
|
Non-GAAP operating costs and |
555,133 |
754,981 |
969,045 |
1,305,681 |
|||
|
Income from operations |
47,622 |
96,097 |
30,292 |
110,443 |
|||
|
Share based compensation expenses |
16,898 |
11,752 |
35,104 |
22,515 |
|||
|
Non-GAAP income from |
64,520 |
107,849 |
65,396 |
132,958 |
|||
|
Net income attributable to TAL |
57,431 |
124,084 |
68,833 |
155,366 |
|||
|
Share based compensation expenses |
16,898 |
11,752 |
35,104 |
22,515 |
|||
|
Non-GAAP net income |
$ 74,329 |
$ 135,836 |
$ 103,937 |
$ 177,881 |
|||
|
Net income per ADS |
|||||||
|
Basic |
$ 0.09 |
$ 0.22 |
$ 0.11 |
$ 0.26 |
|||
|
Diluted |
0.09 |
0.21 |
0.11 |
0.26 |
|||
|
Non-GAAP Net income per ADS |
|||||||
|
Basic |
$ 0.12 |
$ 0.24 |
$ 0.17 |
$ 0.30 |
|||
|
Diluted |
0.12 |
0.24 |
0.17 |
0.30 |
|||
|
ADSs used in calculating net |
|||||||
|
Basic |
605,306,748 |
569,491,224 |
605,004,072 |
587,716,623 |
|||
|
Diluted |
614,849,517 |
577,483,833 |
615,498,423 |
596,062,947 |
|||
|
ADSs used in calculating Non- |
|||||||
|
Basic |
605,306,748 |
569,491,224 |
605,004,072 |
587,716,623 |
|||
|
Diluted |
614,849,517 |
577,483,833 |
615,498,423 |
596,062,947 |
|||
|
Note 3: The tax effect of share-based compensation expenses was immaterial in the second quarter and |
|||||||
Phuket, Thailand: A Tropical Investment Haven for UK Buyers
Laguna Phuket and Banyan Group Residences reveal £750 million pipeline of luxury real estate over the next 2-3 years, reinforcing Phuket as a prime destination for UK buyers seeking second homes or tropical escape.
PHUKET, THAILAND – Media OutReach Newswire – 30 October 2025 – Known as the “Land of Smiles,” Thailand blends breathtaking landscapes, world-renowned hospitality, and vibrant cultural heritage with some of the world’s most delicious cuisine.
The Kingdom’s idyllic tropical island of Phuket, now expecting record numbers of visitors as it enters the high season this month, is becoming the latest hotspot for Britons considering a second home or new life abroad, according to Banyan Group Residences, the island’s leading luxury property developer.
A unique blend of affordability, island scenery and modern infrastructure – with a cost of living 50-70% lower than in UK cities and private healthcare up to 80% cheaper – makes it ideal for retirees, families, and remote workers alike. There are also world-class international hospitals and British-curriculum schools.
The tropical climate is a major draw, offering a welcome escape from England’s cold, grey winters. Phuket’s year-round sunshine and warm sea temperatures create a permanent holiday-like atmosphere.
The island’s welcoming expat community, its ease of access and visa-friendly policies further enhance the appeal. In 2024, 250,000 British visitors travelled to Phuket, with many exploring opportunities to make it their long-term home.
Real Estate Opportunities
From beachfront villas to stylish contemporary condos, property options cater to diverse preferences and budgets. Laguna Phuket, an iconic 1,000-acre integrated resort by Banyan Group is one of the most desirable locations to own a home. It features seven hotels, an 18-hole golf course, restaurants, spas and the new RAVA Beach Club – Thailand’s largest. Plus some 5,000 luxury homes – with more under development. Upcoming projects include Laguna Lakelands, an eco-friendly community with tropical forests and lakes, and ultra-luxurious Banyan Tree Beach Residences for the ultimate in tropical living.
Phuket’s real estate market offers exceptional value compared to the UK. For £750,000, buyers can secure a luxurious 213 sqm home in a prime location, compared to just 33 sqm in London. Foreign buyers account for over 60% of condo sales, with UK nationals ranking among the top 10 investors. Property values have historically risen 5-10% annually, making it a solid long-term investment too.
Banyan Group: A Leader in Branded Residences
The Banyan Group, renowned for its award-winning Banyan Tree Hotels & Resorts, is a world leader in branded residences, ranking no.1 in Asia and no.5 in the world. Buyers can enjoy flexible ownership, using their homes part of the year while participating in a rental programme managed by Banyan’s 5-star hospitality team.
The Group also offers unparalleled after-sales service, including 24/7 concierge support, property management, and rental services.
Banyan Group’s expertise and seamless buying processes makes owning a home in Phuket easier than ever – replacing cold winters with sunny skies for a lifestyle that feels like a permanent holiday.
Hashtag: #BanyanGroup
The issuer is solely responsible for the content of this announcement.
Restoring the Light of Everyday Life: A New Chapter Unfolds on Ipponsugi Street Following the 2024 Noto Peninsula Earthquake
KANAZAWA, Japan, Oct. 30, 2025 /PRNewswire/ — In the wake of the 2024 Noto Peninsula Earthquake, Kanazawa Biyori continues to highlight sincere initiatives aimed at regional revitalization. One such endeavor begins on Ipponsugi Street in Nanao, where the long-established Urushitouho Araki opens a new chapter in collaboration with a new generation of culinary artisans. On November 1, a new food hub will quietly make its debut—reintroducing the comforting glow of everyday life to the street.
Rekindling the Familiar Warmth of Daily Life
Faced with a street that had fallen silent after the disaster, the eighth-generation owner of Araki acquired the neighboring former clothing store, envisioning a space that could once again serve as a gathering point for the community. The second floor of Araki will house the yakitori restaurant Tori to Matsuba, while the adjacent building will become Umi-machi Shoten, a casual eatery and local hangout. Together, they form a modest yet meaningful attempt to weave human connection back into the urban fabric.
Where Cuisine and Craft Come Together in Harmony
Tori to Matsuba offers meticulously grilled skewers, combining premium local chicken with the seasonal bounty of Noto. A curated selection of Ishikawa’s sake completes the experience—relaxed, yet thoughtfully executed.
Umi-machi Shoten serves as a versatile space: a lunch spot by day, a place to unwind with a meal and a drink by night. It aspires to be a welcoming neighborhood eatery, reminiscent of a “town corner store,” where both travelers and locals feel at ease.
Each dish is served on tableware created by Araki, including Wajima lacquerware and Kutani porcelain. The experience is not merely about food—it is a meeting point of craftsmanship and daily life, offering a uniquely Ipponsugi experience. The initiative is led by Junichi Shinjo of Araki, Isao Matsubayashi of Tori to Matsuba, and Takaaki Hino of Umi-machi Shoten—three individuals committed to creating visible, human-centered collaboration that gently restores the flow of life to the street.
- Urushitouho Araki
4 Ipponsugimachi, Nanao City, Ishikawa
TEL: 0767-52-4141 / 9:00–17:00 / Closed Tuesdays. Reopening: Saturday, November 1 - Yakitori Tori to Matsuba (2F of Araki)
TEL: 0767-88-9013 / 18:00–23:00 / Closed Tuesdays. Opening: Sunday, November 2 - Umi-machi Shoten (Former Clothing Store Site)
2 Ipponsugimachi, Nanao City
TEL: 0767-88-0281 / 11:00–14:00, 18:00–22:00 / Closed Tuesdays. Opening: Monday, December 1
A New Place to Encounter Today’s Noto
What begins as a small spark may one day grow into a steady light. With quiet hope, Kanazawa Biyori supports this meaningful step forward—one rooted in place, people, and the persistent spirit of renewal.
Contact Information
Company Name: Kanazawa Biyori Co., Ltd.
Address:
Sanpia Izumigaoka 511, 255 Fushimishinmachi,
Kanazawa City, Ishikawa 921-8172, Japan
Website: info@kanazawabiyori.com
Representative: Tatsunori Kita
Phone: +81-76-255-7663
CNOOC Limited Achieves Steady Project Progress and Production Growth in Q3 2025
|
HONG KONG, Oct. 30, 2025 /PRNewswire/ — CNOOC Limited (the “Company” or “CNOOC Limited”, SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) today announced its operating results for the third quarter of 2025.
In the first three quarters of 2025, CNOOC Limited continued to increase its reserves and production, achieving steady production growth from both domestic and overseas oilfields. The Company remained cost competitive, and demonstrated profitability resilience.
In the nine months, CNOOC Limited achieved a net production of 578.3 million barrels of oil equivalent (“BOE”), an increase of 6.7% year-on-year (“YoY”), of which natural gas production rose by 11.6%. The net production from China grew by 8.6% YoY to 400.8 million BOE, which was mainly attributable to the production from oil and gas fields including Shenhai-1 Phase II and Bozhong 19-2. Overseas net production rose by 2.6% YoY to 177.4 million BOE, which was mainly driven by increased production from projects including Mero 3 in Brazil. In the third quarter alone, the net production reached 193.7 million BOE, representing a YoY increase of 7.9%.
For exploration, the Company made 5 new discoveries and successfully appraised 22 oil and gas-bearing structures. In the third quarter, the Company successfully appraised Kenli 10-6, which has further expanded reserve scale and is expected to become a medium-sized oilfield. The successful appraisal of Lingshui 17-2 made remarkable progress in integrated rolling exploration. For development and production, 14 new projects, including Kenli 10-2 Oilfields Development Project (Phase I), Dongfang 29-1 Gas Field Development Project, Wenchang 19-1 Oilfield Development Project and the Yellowtail Project in Guyana, have commenced production.
In the first three quarters of 2025, the Brent oil prices fell by 14.6% YoY, whereas the Company’s profitability remained resilient. During the period, the oil and gas sales revenue of the Company reached RMB255.48 billion, and the net profit attributable to equity shareholders was RMB101.97 billion. At the same time, the Company stayed cost competitive. The all-in cost was US$27.35 per BOE, a decrease of 2.8% YoY. The Company’s capital expenditures were approximately RMB86.0 billion, mainly due to lower workloads of projects under construction. During the period, the Company’s health, safety and environmental performance remained stable.
Mr. Yan Hongtao, President of the Company, said, “In the first three quarters, CNOOC Limited advanced project construction in an orderly manner, achieved steady growth in oil and gas production, and maintained effective cost control measures. In the fourth quarter, we will focus on our targets, and strive to accomplish the full-year operating objectives.”
— End —
Notes to Editors:
More information about the Company is available at https://www.cnoocltd.com.
*** *** *** ***
This press release includes forward looking information, including statements regarding the likely future developments in the business of the Company and its subsidiaries, such as expected future events, business prospects or financial results. The words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify such forward-looking statements. These statements are based on assumptions and analyses made by the Company as of this date in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that the Company currently believes are appropriate under the circumstances. However, whether actual results and developments will meet the current expectations and predictions of the Company is uncertain. Actual results, performance and financial condition may differ materially from the Company’s expectations, including but not limited to those associated with macro-political and economic factors, fluctuations in crude oil and natural gas prices, the highly competitive nature of the oil and natural gas industry, climate change and environmental policies, the Company’s price forecast, mergers, acquisitions and divestments activities, HSSE and insurance policies and changes in anti-corruption, anti-fraud, anti-money laundering and corporate governance laws and regulations.
Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements. The Company cannot assure that the results or developments anticipated will be realised or, even if substantially realised, that they will have the expected effect on the Company, its business or operations.
*** *** *** ***
For further enquiries, please contact:
Ms. Cui Liu
Media & Public Relations
CNOOC Limited
Tel: +86-10-8452-6641
Fax: +86-10-8452-1441
E-mail: mr@cnooc.com.cn
Mr. Cheng Yao
Ever Bloom (HK) Communications Consultants Group Limited
Tel: +852 5540 0725
Fax: +852 2111 1103
Email: cnooc.hk.list@everbloom.com.cn
