Thai Princess Maha Chakri Sirindhorn has concluded her official visit to Laos, held from 21 to 24 April, following an invitation from Lao President Thongloun Sisoulith.
Thai Princess Sirindhorn Concludes Visit to Laos

Vantage Wraps Up a Successful Showcase at iFX Expo Mexico LATAM 2025
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PORT VILA, Vanuatu, April 24, 2025 /PRNewswire/ — Vantage Markets is proud to conclude a highly successful appearance at iFX Expo Mexico LATAM 2025, where the brand not only engaged with industry stakeholders, but also received widespread recognition for its innovation, technology, and strong industry collaboration.
Held in the vibrant city of México, the event brought together some of the biggest names in the online trading and fintech industry. For Vantage, it was a week filled with thought leadership, strategic discussions, engaging entertainment, and meaningful connection with industry leaders.
At the core of the expo were powerful discussions around the future of trading, fintech innovation, and industry engagement. Alejandro Zelniker, Affiliates and Partners Business Strategist, took the stage as a panelist to discuss trends shaping the trading ecosystem, while Federico Pereira, Regional Business Development Lead, conducted an insightful workshop, sharing valuable perspectives with attendees.
Additionally, Alejandro and Juliana Reyes, Marketing and Partnerships Specialist, were invited to an exclusive interview with El Economista, one of Mexico’s leading financial publications. Their participation also featured in the “Oye Cracks” podcast, where they delved into the affiliate ecosystem and shared perspectives on the evolving role of women in the fintech industry.
Vantage was honored to receive two prestigious awards during the expo – “Best Multi-Asset Broker” and “Best Trading App”. These recognitions highlight Vantage’s commitment to providing a premium trading experience backed by cutting-edge technology, transparency, and product diversity.
To celebrate the successful showcase and to network with industry stakeholders, Vantage hosted an unforgettable Cocktail Party with over 100 guests in attendance. The evening was a true celebration of the community, featuring live saxophone music, mariachis, a mesmerizing alebrijes dance show, an energetic DJ set, and a vibrant mixology experience.
“We’re incredibly proud of what we’ve achieved at iFX Expo Mexico LATAM 2025,” said Alejandro Zelniker. “From winning major awards to sharing our expertise and connecting with the region’s most influential leaders. We’re excited for what’s ahead.”
Vantage’s participation at iFX Expo Mexico LATAM 2025 reflects the brand’s commitment to engaging with the wider fintech community, sharing educational resources, and supporting industry dialogue.
To stay connected with Vantage’s updates, follow our official channels or visit www.vantagemarkets.com.
About Vantage
Vantage Markets (or Vantage) is a multi-asset CFD broker offering clients access to a nimble and powerful service for trading Contracts for Difference (CFDs) products, including Forex, Commodities, Indices, Shares, ETFs, and Bonds.
With over 15 years of market experience, Vantage transcends the role of broker, providing a trusted trading ecosystem, an award-winning mobile trading app, and a user-friendly trading platform that empowers clients to seize trading opportunities. Download the Vantage App on App Store or Google Play.
trade smarter @vantage
RISK WARNING : CFDs are complex instruments and carry a high risk of losing money rapidly due to leverage. Ensure you understand the risks before trading.
Disclaimer: This article is provided for informational purposes only and does not constitute financial advice, an offer, or solicitation of any financial products or services. The content is not intended for residents of any jurisdiction where such distribution or use would be contrary to local law or regulation. Readers are advised to seek independent professional advice before making any investment or financial decisions. Any reliance you place on the information presented is strictly at your own risk.
Bright Scholar Schedules Unaudited Financial Results for the Second Quarter of Fiscal 2025 Ended February 28, 2025
CAMBRIDGE, England and FOSHAN, China, April 24, 2025 /PRNewswire/ — Bright Scholar Education Holdings Limited (“Bright Scholar,” the “Company,” “we” or “our”) (NYSE: BEDU), a global premier education service company, today announced that it will release its unaudited financial results for the second quarter of fiscal 2025 ended February 28, 2025, on April 28, 2025, before the US market opens.
The Company’s management will host an earnings conference call at 7:00 a.m. U.S. Eastern Time (7:00 p.m. Beijing/Hong Kong Time) on April 28, 2025.
Dial-in details for the earnings conference call are as follows:
Mainland China: |
4001-201203 |
Hong Kong: |
800-905945 |
United States: |
1-888-346-8982 |
International: |
1-412-902-4272 |
Participants should dial-in at least 5 minutes before the scheduled start time and ask to be connected to the call for “Bright Scholar Education Holdings Limited.”
Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at http://ir.brightscholar.com/.
A replay of the conference call will be accessible after the conclusion of the live call until May 5, 2025, by dialing the following telephone numbers:
United States Toll Free: |
1-877-344-7529 |
International: |
1-412-317-0088 |
Replay Passcode: |
2410484 |
About Bright Scholar Education Holdings Limited
Bright Scholar is a global premier education service Group. The Company primarily provides quality international education to global students and equips them with the critical academic foundation and skillsets necessary to succeed in the pursuit of higher education.
For more information, please visit: https://ir.brightscholar.com/.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company’s business plans and development, which can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.
IR Contact:
Email: BEDU@thepiacentegroup.com
Phone: +86 (10) 6508-0677/ +1-212-481-2050
Media Contact:
Email: media@brightscholar.com
X-PHY Inc Unveils Real-Time Deepfake Detection Tool Ahead of RSA Conference 2025
Expanding its AI-powered security suite, X-PHY takes aim at the rising threat of AI-generated deception
SAN FRANCISCO, April 24, 2025 /PRNewswire/ — X-PHY Inc, a leading innovator in embedded cybersecurity technology, has announced the launch of its latest solution ahead of RSA Conference (RSAC) 2025 – Deepfake Detector – a real-time deepfake detection tool that empowers users to verify the authenticity of videos, audio, and images directly on their devices, without relying on the cloud. Live demonstrations will be held for the first time during RSAC.
The growth of deepfakes has been exponential – deepfake content on social media alone grew 550% between 2019 and 2023, and the World Economic Forum states it is a key global risk. X-PHY’s innovation is designed to combat AI-generated deception, enabling users to verify the authenticity of digital media – including videos, images, and audio – with up to 90% accuracy, in real-time. This marks X-PHY’s expansion into AI-driven content integrity solutions, bridging data protection with digital trust.
“At X-PHY, we are committed to extending our ethos of Security by Design beyond data protection,” said Camellia Chan, CEO and Co-Founder of X-PHY Inc. “The X-PHY Deepfake Detector strengthens our vision of a Community Root of Trust, where every layer – from hardware to data to content – serves as a checkpoint for authenticity and security. By combining deepfake detection with our existing hardware-embedded defences, we’re ensuring every endpoint not only protects data, but actively discerns and verifies the trustworthiness of the information flowing through it.”
On-Demand Deepfake Detection
Upon activation, the X-PHY Deepfake Detector uses multi-modal AI to analyze video, image, and audio streams in real time. By examining facial micro-expressions, voice fingerprints, and Generative Adversarial Network (GAN)-generated artifacts, it flags signs of manipulation – even across multiple video windows. Detection is performed entirely on-device, preserving privacy and functioning even without an internet connection.
This is achieved through the Deepfake Detector’s use of advanced temporal and spatial AI analysis, powered by pre-trained neural networks. These models are capable of identifying subtle inconsistencies across facial movements, audio waveforms, and image artifacts – common signs of AI-generated content.
When combined with X-PHY’s patented hardware-based protections, this forms a seamless security ecosystem, protecting both stored data and the integrity of digital communications.
Flexible Deployment, Fuss-Free Integration
Designed for seamless adoption, the Deepfake Detector offers flexible deployment options to suit varying enterprise needs. It can be installed as a lightweight software agent on personal computers and laptops running on Windows operating systems or packaged with the X-PHY Cybersecure SSD – creating a unified defense layer that spans data protection, ransomware prevention, and deepfake detection.
The solution is application-agnostic, compatible with leading platforms like Teams, Zoom, Webex, Chrome, YouTube, and Meta. Users can activate it with a single click when joining a meeting, where it runs autonomously for a preset duration and can be re-engaged as needed.
Built on Zero Trust principles, the solution adds an additional layer of authentication and verification at the device level, helping organizations strengthen their cyber resilience against AI-powered deception and reducing reliance on external validation systems that often introduce unnecessary operational complexity.
X-PHY Deepfake Detector is now available for purchase through the official X-PHY website and from authorized global channel partners. For enterprise enquiries or bulk deployments, please contact our sales team at info@x-phy.com.
Experience live demonstrations at X-PHY Inc’s Booth #5368, located in the North Expo Hall of the Moscone Center, from April 28 to May 1 during RSA Conference 2025.
About X-PHY Inc
X-PHY Inc is a pioneering cybersecurity company dedicated to hardware-based cybersecurity solutions that protect data at its core. Built on the principle of Security by Design, X-PHY embeds protection directly at the physical layer for proactive, autonomous, and real-time defense against evolving cyber threats. Headquartered in California, USA, X-PHY Inc was established in 2021 and has since developed a growing portfolio of 43 patents, reinforcing its commitment to innovative AI-embedded security at the hardware level. The company’s patented solutions safeguard endpoints, servers, and data centers, ensuring zero-trust resilience across industries.
X-PHY Inc is part of the Flexxon Group, a leader in hardware engineering and memory solutions, leveraging its legacy of innovation and expertise in secure storage to build cutting-edge cybersecurity technologies for the digital world.
For more information, please visit:
X-PHY: x-phy.com
Flexxon: flexxon.com
TAL Education Group Announces Unaudited Financial Results for the Fourth Fiscal Quarter and the Fiscal Year 2025
BEIJING, April 24, 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 fourth quarter and the fiscal year ended February 28, 2025.
Highlights for the Fourth Quarter of Fiscal Year 2025
- Net revenues were US$610.2 million, compared to net revenues of US$429.6 million in the same period of the prior year.
- Loss from operations was US$16.0 million, compared to loss from operations of US$11.1 million in the same period of the prior year.
- Non-GAAP loss from operations, which excluded share-based compensation expenses, was US$1.7 million, compared to non-GAAP income from operations of US$9.4 million in the same period of the prior year.
- Net loss attributable to TAL was US$7.3 million, compared to net income attributable to TAL of US$27.5 million in the same period of the prior year.
- Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$7.0 million, compared to non-GAAP net income attributable to TAL of US$48.0 million in the same period of the prior year.
- Basic and diluted net loss per American Depositary Share (“ADS”) were both US$0.01. Non-GAAP basic and diluted net income per ADS, which excluded share-based compensation expenses, were both US$0.01. Three ADSs represent one Class A common share.
- Cash, cash equivalents and short-term investments totaled US$3,618.4 million as of February 28, 2025, compared to US$3,303.3 million as of February 29, 2024.
Highlights for the Fiscal Year Ended February 28, 2025
- Net revenues were US$2,250.2 million, compared to net revenues of US$1,490.4 million in the prior year.
- Loss from operations was US$3.2 million, compared to loss from operations of US$69.2 million in the prior year.
- Non-GAAP income from operations, which excluded share-based compensation expenses, was US$61.8 million, compared to non-GAAP income from operations of US$19.7 million in the prior year.
- Net income attributable to TAL was US$84.6 million, compared to net loss attributable to TAL of US$3.6 million in the prior year.
- Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$149.5 million, compared to non-GAAP net income attributable to TAL of US$85.3 million in the prior year.
- Basic and diluted net income per ADS were both US$0.14. Non-GAAP basic and diluted net income per ADS, which excluded share-based compensation expenses, were US$0.25 and US$0.24, respectively.
Financial Data——Fourth Quarter and Fiscal Year 2025
(In US$ thousands, except per ADS data and percentages)
Three Months Ended |
|||||
February 29/28, |
|||||
2024 |
2025 |
Pct. Change |
|||
Net revenues |
429,563 |
610,239 |
42.1 % |
||
Loss from operations |
(11,061) |
(16,015) |
44.8 % |
||
Non-GAAP income/(loss) from operations |
9,440 |
(1,692) |
(117.9 %) |
||
Net income/(loss) attributable to TAL |
27,508 |
(7,311) |
(126.6 %) |
||
Non-GAAP net income attributable to TAL |
48,009 |
7,012 |
(85.4 %) |
||
Net income/(loss) per ADS attributable to TAL – |
0.05 |
(0.01) |
(126.4 %) |
||
Net income/(loss) per ADS attributable to TAL – |
0.04 |
(0.01) |
(126.9 %) |
||
Non-GAAP net income per ADS attributable to |
0.08 |
0.01 |
(85.5 %) |
||
Non-GAAP net income per ADS attributable to |
0.08 |
0.01 |
(85.4 %) |
Fiscal Year Ended |
|||||
February 29/28, |
|||||
2024 |
2025 |
Pct. Change |
|||
Net revenues |
1,490,440 |
2,250,233 |
51.0 % |
||
Loss from operations |
(69,229) |
(3,155) |
(95.4 %) |
||
Non-GAAP income from operations |
19,669 |
61,784 |
214.1 % |
||
Net (loss)/income attributable to TAL |
(3,573) |
84,591 |
(2,467.5 %) |
||
Non-GAAP net income attributable to TAL |
85,325 |
149,530 |
75.2 % |
||
Net (loss)/income per ADS attributable to TAL – |
(0.01) |
0.14 |
(2,483.2 %) |
||
Net (loss)/income per ADS attributable to TAL – |
(0.01) |
0.14 |
(2,445.4 %) |
||
Non-GAAP net income per ADS attributable to |
0.14 |
0.25 |
76.4 % |
||
Non-GAAP net income per ADS attributable to |
0.14 |
0.24 |
76.7 % |
“We are pleased to share our fiscal fourth-quarter and full-year performance, delivering year-over-year revenue growth across both learning services and content solutions. We continued to receive positive user feedback in both online and offline enrichment learning programs, as more families seek solutions that enable learners’ holistic development,” said Alex Peng, TAL’s President & Chief Financial Officer.
“Our learning devices have also gained momentum over the past year, reflecting their growing role in students’ self-learning journeys. Moving forward, by integrating in-person teaching, interactive online programs, and smart learning tools, we are confident in TAL’s full-stack capability to deliver value to students and families.”
Financial Results for the Fourth Quarter of Fiscal Year 2025
Net Revenues
In the fourth quarter of fiscal year 2025, TAL reported net revenues of US$610.2 million, representing a 42.1% increase from US$429.6 million in the fourth quarter of fiscal year 2024.
Operating Costs and Expenses
In the fourth quarter of fiscal year 2025, operating costs and expenses were US$628.8 million, representing a 41.2% increase from US$445.4 million in the fourth quarter of fiscal year 2024. Non-GAAP operating costs and expenses, which excluded share-based compensation expenses, were US$614.5 million, representing a 44.6% increase from US$424.9 million in the fourth quarter of fiscal year 2024.
Cost of revenues increased by 44.7% to US$292.6 million from US$202.2 million in the fourth quarter of fiscal year 2024. Non-GAAP cost of revenues, which excluded share-based compensation expenses, increased by 46.1% to US$291.7 million, from US$199.6 million in the fourth quarter of fiscal year 2024.
Selling and marketing expenses increased by 73.1% to US$218.0 million from US$125.9 million in the fourth quarter of fiscal year 2024. Non-GAAP selling and marketing expenses, which excluded share-based compensation expenses, increased by 77.9% to US$214.3 million, from US$120.4 million in the fourth quarter of fiscal year 2024.
General and administrative expenses increased by 0.8% to US$118.2 million from US$117.2 million in the fourth quarter of fiscal year 2024. Non-GAAP general and administrative expenses, which excluded share-based compensation expenses, increased by 3.5% to US$108.5 million, from US$104.9 million in the fourth quarter of fiscal year 2024.
Total share-based compensation expenses allocated to the related operating costs and expenses decreased by 30.1% to US$14.3 million in the fourth quarter of fiscal year 2025 from US$20.5 million in the fourth quarter of fiscal year 2024.
Gross Profit
Gross profit increased by 39.7% to US$317.6 million from US$227.3 million in the fourth quarter of fiscal year 2024.
Loss from Operations
Loss from operations was US$16.0 million in the fourth quarter of fiscal year 2025, compared to loss from operations of US$11.1 million in the fourth quarter of fiscal year 2024. Non-GAAP loss from operations, which excluded share-based compensation expenses, was US$1.7 million, compared to Non-GAAP income from operations of US$9.4 million in the fourth quarter of fiscal year 2024.
Other Income
Other income was US$13.0 million in the fourth quarter of fiscal year 2025, compared to other income of US$37.3 million in the fourth quarter of fiscal year 2024.
Impairment Loss on Long-term Investments
Impairment loss on long-term investments was US$4.2 million in the fourth quarter of fiscal year 2025, compared to US$14.0 million in the fourth quarter of fiscal year 2024.
Income Tax Expense
Income tax expense was US$14.0 million in the fourth quarter of fiscal year 2025, compared to US$6.5 million of income tax expense in the fourth quarter of fiscal year 2024.
Net Income/(Loss) attributable to TAL Education Group
Net loss attributable to TAL was US$7.3 million in the fourth quarter of fiscal year 2025, compared to net income attributable to TAL of US$27.5 million in the fourth quarter of fiscal year 2024. Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$7.0 million, compared to Non-GAAP net income attributable to TAL of US$48.0 million in the fourth quarter of fiscal year 2024.
Basic and Diluted Net Income/(Loss) per ADS
Basic and diluted net loss per ADS were both US$0.01 in the fourth quarter of fiscal year 2025. Non-GAAP basic and diluted net income per ADS, which excluded share-based compensation expenses, were both US$0.01 in the fourth quarter of fiscal year 2025.
Cash Flow
Net cash used in operating activities in the fourth quarter of fiscal year 2025 was US$226.3 million.
Cash, Cash Equivalents, and Short-Term Investments
As of February 28, 2025, the Company had US$1,771.3 million of cash and cash equivalents and US$1,847.1 million of short-term investments, compared to US$2,208.7 million of cash and cash equivalents and US$1,094.6 million of short-term investments as of February 29, 2024.
Deferred Revenue
As of February 28, 2025, the Company’s deferred revenue balance was US$671.2 million, compared to US$428.3 million as of February 29, 2024.
Financial Results for the Fiscal Year Ended February 28, 2025
Net Revenues
In fiscal year 2025, TAL reported net revenues of US$2,250.2 million, representing a 51.0% increase from US$1,490.4 million in fiscal year 2024.
Operating Costs and Expenses
In fiscal year 2025, operating costs and expenses were US$2,257.6 million, representing a 43.2% increase from US$1,576.1 million in fiscal year 2024. Non-GAAP operating costs and expenses, which excluded share-based compensation expenses, were US$2,192.7 million, representing a 47.4% increase from US$1,487.2 million in fiscal year 2024.
Cost of revenues increased by 53.4% to US$1,050.0 million in fiscal year 2025 from US$684.3 million in fiscal year 2024. Non-GAAP cost of revenues, which excluded share-based compensation expenses, increased by 54.7% to US$1,043.6 million in fiscal year 2025 from US$674.7 million in fiscal year 2024.
Selling and marketing expenses increased by 62.1% to US$748.8 million in fiscal year 2025 from US$461.9 million in fiscal year 2024. Non-GAAP selling and marketing expenses, which excluded share-based compensation expenses, increased by 67.6% to US$732.6 million in fiscal year 2025 from US$437.2 million in fiscal year 2024.
General and administrative expenses increased by 6.7% to US$458.9 million in fiscal year 2025 from US$429.9 million in fiscal year 2024. Non-GAAP general and administrative expenses, which excluded share-based compensation expenses, increased by 11.0% to US$416.4 million in fiscal year 2025 from US$375.3 million in fiscal year 2024.
Total share-based compensation expenses allocated to the related operating costs and expenses decreased by 27.0% to US$64.9 million in fiscal year 2025 from US$88.9 million in fiscal year 2024.
Gross Profit
Gross profit increased by 48.9% to US$1,200.3 million in fiscal year 2025 from US$806.1 million in fiscal year 2024.
Loss from Operations
Loss from operations was US$3.2 million in fiscal year 2025, compared to loss from operations of US$69.2 million in fiscal year 2024. Non-GAAP income from operations, which excluded share-based compensation expenses, was US$61.8 million in fiscal year 2025, compared to US$19.7 million Non-GAAP income from operations in fiscal year 2024.
Other Income
Other income was US$64.7 million in fiscal year 2025, compared to other income of US$48.8 million in fiscal year 2024.
Impairment Loss on Long-term Investments
Impairment loss on long-term investments was US$12.9 million in fiscal year 2025, compared to US$47.0 million in fiscal year 2024.
Income Tax Expense
Income tax expense was US$38.3 million in fiscal year 2025, compared to US$15.4 million of income tax expense in fiscal year 2024.
Net Income/(Loss) Attributable to TAL Education Group
Net income attributable to TAL was US$84.6 million in fiscal year 2025, compared to net loss attributable to TAL of US$3.6 million in fiscal year 2024. Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$149.5 million in fiscal year 2025, compared to US$85.3 million Non-GAAP net income attributable to TAL in fiscal year 2024.
Cash Flow
Net cash provided by operating activities in fiscal year 2025 was US$397.9 million.
Basic and Diluted Net Income/(Loss) per ADS
Basic and diluted net income per ADS were both US$0.14 in fiscal year 2025. Non-GAAP basic net income per ADS, which excluded share-based compensation expenses, was US$0.25, and Non-GAAP diluted net income per ADS was US$0.24.
Extension of Share Repurchase Program by the Company
The Company’s board of directors (the “Board”) has authorized to extend the Company’s share repurchase program (the “Share Repurchase Program”) initially launched in April 2021 by another 12 months. The Company has repurchased its ADSs, every three representing one Class A common share, at an aggregate consideration of approximately US$13.1 million under the Share Repurchase Program between April 1, 2024 and April 24, 2025. Pursuant to the extended Share Repurchase Program, the Company may repurchase up to approximately US$490.7 million of its common shares through April 30, 2026. The share repurchases may be effected from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and will be implemented in accordance with applicable rules and regulations. The Company expects to fund the repurchases out of its existing cash balance.
Board Member Changes
The Board has appointed Mr. Yi Wang as an independent director, effective April 22, 2025. Mr. Wang will also serve as Chair of the Compensation Committee and as a member of both the Audit Committee and the Nominating and Corporate Governance Committee. Dr. Weiru Chen has resigned from the Board and all Board committees for personal reasons. Dr. Chen will continue to support the Company in an advisory capacity.
“We are pleased to welcome Mr. Wang to the Board of TAL. Mr. Wang brings extensive experience across both the business and education sectors, and we are confident that his insights will further strengthen TAL’s strategic direction, governance, and operational excellence,” said Mr. Bangxin Zhang, Founder, Chairman of the Board, and Chief Executive Officer of TAL, “We also want to express our deep appreciation to Dr. Weiru Chen for his outstanding service and invaluable contributions over the past decade. We look forward to continuing our collaboration with Dr. Chen in his new advisory role.”
Since 2014, Mr. Wang has served as the Executive Director of the Harvard Center Shanghai, where he oversees Harvard University’s initiatives and programs in China. Prior to his role at Harvard, Mr. Wang held significant positions in the corporate sector, including Managing Director at Goldman Sachs and Partner at McKinsey & Company. He also served the financial industry as an independent director of Citibank (China) from 2017 to 2023. In addition to his professional endeavors, Mr. Wang is deeply committed to education-related charitable work. He is the co-founder and Vice Chair of the Board of UWC Changshu China and a founding board member of Tsinglan School in Dongguan, China.
Conference Call
The Company will host a conference call and live webcast to discuss its financial results for the fourth fiscal quarter of fiscal year 2025 ended February 28, 2025 at 8:00 a.m. Eastern Time on April 24, 2025 (8:00 p.m. Beijing time on April 24, 2025).
Please note that you will need to pre-register for conference call participation at
https://register-conf.media-server.com/register/BI775d26b88d684bfd81abe62dd23861a6.
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 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/(loss) 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 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
TAL EDUCATION GROUP |
||||
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS |
||||
(In thousands of U.S. dollars) |
||||
As of February 29, |
As of February 28, |
|||
ASSETS |
||||
Current assets |
||||
Cash and cash equivalents |
$ 2,208,756 |
$ 1,771,260 |
||
Restricted cash-current |
167,656 |
187,846 |
||
Short-term investments |
1,094,593 |
1,847,120 |
||
Inventory |
68,328 |
104,876 |
||
Amounts due from related parties-current |
343 |
37 |
||
Prepaid expenses and other current assets |
159,498 |
215,781 |
||
Total current assets |
3,699,174 |
4,126,920 |
||
Restricted cash-non-current |
81,064 |
32,625 |
||
Property and equipment, net |
405,319 |
472,366 |
||
Deferred tax assets |
4,620 |
3,487 |
||
Rental deposits |
16,947 |
22,131 |
||
Land use rights, net |
189,049 |
182,880 |
||
Amounts due from related parties-non-current |
59 |
96 |
||
Long-term investments |
284,266 |
305,105 |
||
Long-term prepayments and other non-current assets |
16,347 |
28,393 |
||
Operating lease right-of-use assets |
231,104 |
329,064 |
||
Total assets |
$ 4,927,949 |
$ 5,503,067 |
||
LIABILITIES AND EQUITY |
||||
Current liabilities |
||||
Accounts payable |
$ 127,321 |
$ 146,300 |
||
Deferred revenue-current |
400,286 |
624,272 |
||
Amounts due to related parties-current |
96 |
93 |
||
Accrued expenses and other current liabilities |
491,911 |
582,227 |
||
Operating lease liabilities, current portion |
62,604 |
88,453 |
||
Total current liabilities |
1,082,218 |
1,441,345 |
||
Deferred revenue-non-current |
27,993 |
46,955 |
||
Deferred tax liabilities |
2,360 |
3,474 |
||
Operating lease liabilities, non-current portion |
176,614 |
244,895 |
||
Total liabilities |
1,289,185 |
1,736,669 |
||
Equity |
||||
Class A common shares |
152 |
154 |
||
Class B common shares |
49 |
49 |
||
Additional paid-in capital |
4,256,957 |
4,294,819 |
||
Statutory reserve |
165,138 |
179,537 |
||
Accumulated deficit |
(694,270) |
(624,078) |
||
Accumulated other comprehensive loss |
(65,928) |
(83,914) |
||
Total TAL Education Group’s equity |
3,662,098 |
3,766,567 |
||
Noncontrolling interests |
(23,334) |
(169) |
||
Total equity |
3,638,764 |
3,766,398 |
||
Total liabilities and equity |
$ 4,927,949 |
$ 5,503,067 |
||
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 Fiscal Year Ended February 29/28, |
||||||
2024 |
2025 |
2024 |
2025 |
||||
Net revenues |
$ 429,563 |
$ 610,239 |
$ 1,490,440 |
$ 2,250,233 |
|||
Cost of revenues (note 1) |
202,241 |
292,646 |
684,316 |
1,049,975 |
|||
Gross profit |
227,322 |
317,593 |
806,124 |
1,200,258 |
|||
Operating expenses (note 1) |
|||||||
Selling and marketing |
125,949 |
217,981 |
461,851 |
748,750 |
|||
General and administrative |
117,240 |
118,177 |
429,947 |
458,895 |
|||
Total operating expenses |
243,189 |
336,158 |
891,798 |
1,207,645 |
|||
Government subsidies |
4,806 |
2,550 |
16,445 |
4,232 |
|||
Loss from operations |
(11,061) |
(16,015) |
(69,229) |
(3,155) |
|||
Interest income, net |
20,895 |
19,072 |
84,928 |
83,482 |
|||
Other income |
37,255 |
12,950 |
48,766 |
64,717 |
|||
Impairment loss on long-term |
(13,951) |
(4,241) |
(46,982) |
(12,933) |
|||
Income before income tax |
33,138 |
11,766 |
17,483 |
132,111 |
|||
Income tax expense |
(6,504) |
(13,972) |
(15,379) |
(38,320) |
|||
Income/(loss) from equity method |
694 |
(5,194) |
(6,242) |
(9,531) |
|||
Net income/(loss) |
$ 27,328 |
$ (7,400) |
$ (4,138) |
$ 84,260 |
|||
Add: Net loss attributable to |
180 |
89 |
565 |
331 |
|||
Total net income/(loss) |
$ 27,508 |
$ (7,311) |
$ (3,573) |
$ 84,591 |
|||
Net income/(loss) per common |
|||||||
Basic |
$ 0.14 |
$ (0.04) |
$ (0.02) |
$ 0.42 |
|||
Diluted |
0.13 |
(0.04) |
(0.02) |
0.41 |
|||
Net income/(loss) per ADS (note |
|||||||
Basic |
$ 0.05 |
$ (0.01) |
$ (0.01) |
$ 0.14 |
|||
Diluted |
0.04 |
(0.01) |
(0.01) |
0.14 |
|||
Weighted average shares used in |
|||||||
Basic |
201,140,767 |
202,627,554 |
203,304,744 |
201,963,823 |
|||
Diluted |
205,157,437 |
202,627,554 |
203,304,744 |
205,222,753 |
|||
Note1: Share-based compensation expenses are included in the operating costs and expenses as follows: |
|||||||
For the Three Months |
For the Fiscal Year |
||||||
Ended February 29/28, |
Ended February 29/28, |
||||||
2024 |
2025 |
2024 |
2025 |
||||
Cost of revenues |
$ 2,626 |
$ 963 |
$ 9,615 |
$ 6,389 |
|||
Selling and marketing expenses |
5,505 |
3,691 |
24,625 |
16,101 |
|||
General and administrative expenses |
12,370 |
9,669 |
54,658 |
42,449 |
|||
Total |
$ 20,501 |
$ 14,323 |
$ 88,898 |
$ 64,939 |
|||
Note 2: Three ADSs represent one Class A common Share. |
TAL EDUCATION GROUP |
|||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF |
|||||||
COMPREHENSIVE INCOME/(LOSS) |
|||||||
(In thousands of U.S. dollars) |
|||||||
For the Three Months Ended February 29/28, |
For the Fiscal Year Ended February 29/28, |
||||||
2024 |
2025 |
2024 |
2025 |
||||
Net income/(loss) |
$ 27,328 |
$ (7,400) |
$ (4,138) |
$ 84,260 |
|||
Other comprehensive loss, net |
(8,062) |
(13,376) |
(34,301) |
(17,724) |
|||
Comprehensive income/(loss) |
19,266 |
(20,776) |
(38,439) |
66,536 |
|||
Add: Comprehensive |
(40) |
44 |
(396) |
69 |
|||
Comprehensive income/(loss) |
$ 19,226 |
$ (20,732) |
$ (38,835) |
$ 66,605 |
TAL EDUCATION GROUP |
|||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF |
|||||||
CASH FLOWS |
|||||||
(In thousands of U.S. dollars) |
|||||||
For the Three Months Ended February 29/28, |
For the Fiscal Year Ended February 29/28, |
||||||
2024 |
2025 |
2024 |
2025 |
||||
Net cash (used in)/provided by |
$ (23,746) |
$ (226,332) |
$ 306,172 |
$ 397,923 |
|||
Net cash (used in)/provided by |
(38,887) |
(314,289) |
95,068 |
(847,028) |
|||
Net cash provided by/(used in) |
206 |
(55,104) |
(233,095) |
(13,167) |
|||
Effect of exchange rate |
(2,465) |
(998) |
(5,576) |
(3,473) |
|||
Net (decrease)/increase in |
(64,892) |
(596,723) |
162,569 |
(465,745) |
|||
Cash, cash equivalents and |
2,522,368 |
2,588,454 |
2,294,907 |
2,457,476 |
|||
Cash, cash equivalents and |
$ 2,457,476 |
$ 1,991,731 |
$ 2,457,476 |
$ 1,991,731 |
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 February 29/28, |
For the Fiscal Year Ended February 29/28, |
||||||
2024 |
2025 |
2024 |
2025 |
||||
Cost of revenues |
$ 202,241 |
$ 292,646 |
$ 684,316 |
$ 1,049,975 |
|||
Share-based compensation expenses |
2,626 |
963 |
9,615 |
6,389 |
|||
Non-GAAP cost of revenues |
199,615 |
291,683 |
674,701 |
1,043,586 |
|||
Selling and marketing expenses |
125,949 |
217,981 |
461,851 |
748,750 |
|||
Share-based compensation expenses |
5,505 |
3,691 |
24,625 |
16,101 |
|||
Non-GAAP selling and marketing |
120,444 |
214,290 |
437,226 |
732,649 |
|||
General and administrative |
117,240 |
118,177 |
429,947 |
458,895 |
|||
Share-based compensation expenses |
12,370 |
9,669 |
54,658 |
42,449 |
|||
Non-GAAP general and |
104,870 |
108,508 |
375,289 |
416,446 |
|||
Operating costs and expenses |
445,430 |
628,804 |
1,576,114 |
2,257,620 |
|||
Share-based compensation expenses |
20,501 |
14,323 |
88,898 |
64,939 |
|||
Non-GAAP operating costs and |
424,929 |
614,481 |
1,487,216 |
2,192,681 |
|||
Loss from operations |
(11,061) |
(16,015) |
(69,229) |
(3,155) |
|||
Share-based compensation expenses |
20,501 |
14,323 |
88,898 |
64,939 |
|||
Non-GAAP income/(loss) from |
9,440 |
(1,692) |
19,669 |
61,784 |
|||
Net income/(loss) attributable to |
27,508 |
(7,311) |
(3,573) |
84,591 |
|||
Share-based compensation expenses |
20,501 |
14,323 |
88,898 |
64,939 |
|||
Non-GAAP net income |
$ 48,009 |
$ 7,012 |
$ 85,325 |
$ 149,530 |
|||
Net income/(loss) per ADS |
|||||||
Basic |
$ 0.05 |
$ (0.01) |
$ (0.01) |
$ 0.14 |
|||
Diluted |
0.04 |
(0.01) |
(0.01) |
0.14 |
|||
Non-GAAP Net income per ADS |
|||||||
Basic |
$ 0.08 |
$ 0.01 |
$ 0.14 |
$ 0.25 |
|||
Diluted |
0.08 |
0.01 |
0.14 |
0.24 |
|||
ADSs used in calculating net |
|||||||
Basic |
603,422,301 |
607,882,662 |
609,914,232 |
605,891,469 |
|||
Diluted |
615,472,311 |
607,882,662 |
609,914,232 |
615,668,259 |
|||
ADSs used in calculating Non- |
|||||||
Basic |
603,422,301 |
607,882,662 |
609,914,232 |
605,891,469 |
|||
Diluted |
615,472,311 |
616,868,733 |
620,629,080 |
615,668,259 |
|||
Note 3: The tax effect of share-based compensation expenses was immaterial in the fourth quarter and in the fiscal year 2025. |
Towards new trends, gathering new trends and innovating: China Changan makes its debut at the 2025 Shanghai Auto Show
SHANGHAI, April 24, 2025 /PRNewswire/ — China Changan makes its debut at the 2025 Shanghai Auto Show with the theme of “Towards New Trends, Gathering New Trends, and Innovative Power”, bringing 88 products to showcase its innovative technologies and product portfolio.
Towards new trends, creating core technology driving force
China Changan has built a “1255+” technological innovation system and transformed into an innovative technology group. At the auto show, Chenzhi Technology releases a new generation of intelligent chassis sports integrated solutions, covering EMB full-wire control brake and other technologies, with multiple power combinations, system-level redundancy and other features, and its performance indicators are leading the world. Chongqing Qingshan launches the “GI-Drive2.0” intelligent electric drive platform, which contains 293 invention patents and uses EDS4 distributed electric drive assembly with an efficiency of 96.5%. It demonstrates scenes such as turning around on the spot and shows precise control capabilities.
Gathering new trends and building a smart travel ecosystem
China Changan participates in the exhibition with a “3+2+N” business layout:
Powertrain and electric drive: Dongan Power displays the M15NTDE engine and other products with leading thermal efficiency; Chongqing Qingshan exhibits the all-in-one electric drive assembly; Huachuan Denso brings products such as extended-range generators.
Intelligent chassis: Chenzhi Technology demonstrates its full-stack capabilities including wire-controlled braking and steering; Sichuan Jianan’s third-generation electric drive axle is about to be mass-produced.
Thermal management: The Innovation Research Institute exhibits super-integrated thermal management modules; Southern Inter displays multi-zone air-conditioning boxes and other products.
Electronics, appliances and parts: The Electronics and Appliances Division brings products such as power domain controllers; Hunan Tianyan displays transformation results such as superchargers.
Changan Minsheng Logistics presents full-process digital logistics solutions and intelligent equipment.
Innovation brings together new momentum for the industry
China Changan adheres to the brand connotation of “innovation-led”, provides customized cooperation models, introduces intelligent manufacturing and digital management, and strictly controls quality. At the same time, it promotes green supply chains, deploys battery recycling, explores cutting-edge fields with industry chain partners, and promotes high-quality development of the automobile industry.
Lao, China Bilateral Trade Increases to USD 8.23 Billion in 2024, Marking Significant Growth
In 2024, Laos and China achieved a significant milestone in trade, with a total value of USD 8.23 billion, marking a 15.91 percent increase compared to 2023. This growth was driven by international transactions across several sectors, including the Lao-China railway, investment, and development projects.
Chinachem Group Pioneers Asia’s First Triple-Themed Syndicated Loan
Accelerating Green Buildings & Socially Inclusive Urban Development
HONG KONG SAR – Media OutReach Newswire – 24 April 2025 – Chinachem Group (“CCG”) announced today the successful closure of an HK$8 billion syndicated loan facility (“the Facility”), marking its debut syndicated loan and establishing a new benchmark for sustainable finance in Asia. As the region’s first syndicated loan to combine green, social and sustainability-linked components, the Facility garnered exceptional market reception, with final commitments from 12 leading international, regional and local banks, oversubscribed by over 2.5 times the initial target.

The overwhelming responses reflect CCG’s exceptional financial position and strong corporate governance, which secure unwavering support and confidence from our banking partners despite the prevailing cautious market environments and geopolitical tension. With the new financing secured, CCG’s financial and liquidity position is further bolstered, enabling it to continue investing, driving growth, and delivering sustainable long-term value.
Adding to the enhanced financial strength, the innovative financing structure of the Facility also reinforces CCG’s position at the forefront of responsible development while creating a replicable model for aligning financial instruments with sustainable urban transformation.
Peter Brien, Chairman and Independent Non-Executive Director of Chinachem Group Holdings Limited, says, “This triple-themed Facility exemplifies our vision of building sustainable legacies – where environmental stewardship, social responsibility and financial performance converge. It directly accelerates our CCG 3050+ carbon reduction roadmap, which commits by 2030 to reduce carbon intensity by at least 51.8% from our 2020 baseline. By aligning financing with measurable sustainability outcomes, we’re institutionalising responsible development at every level of our business.”
Andy Cheung, Executive Director and Chief Executive Officer of Chinachem Group, says, “The overwhelming support from our banking partners demonstrates our shared commitment to future-proofing Hong Kong’s development. The Facility provides both the capital and accountability framework we need to deliver lasting value – for our stakeholders, our communities and our urban environment.”
The Facility operates under CCG’s enhanced Sustainable Finance Framework, fully aligned with the “Hong Kong Taxonomy for Sustainable Finance” published by the Hong Kong Monetary Authority.
The Facility is backed by:
Mandated Lead Arrangers and Bookrunners
1. Bank of China (Hong Kong) Limited
2. DBS Bank Hong Kong
3. Hang Seng Bank Limited
4. The Hongkong and Shanghai Banking Corporation Limited
Mandated Lead Arrangers
5. Fubon Financial Holding Co., Ltd.
6. Bank of Communications (Hong Kong) Limited
7. Industrial Bank Co., Ltd., Hong Kong Branch
Lead Arranger
8. OCBC Bank (Hong Kong) Limited
Arrangers
9. Bank of East Asia
10. China Everbright Bank Co., Ltd., Hong Kong Branch
11. Chiyu Banking Corporation Limited
12. Nanyang Commercial Bank, Limited
Facility Agent
Hang Seng Bank Limited
Sole ESG Coordinator
The Hongkong and Shanghai Banking Corporation Limited
Hashtag: #ChinachemGroup
The issuer is solely responsible for the content of this announcement.
About Chinachem Group
Founded in 1960, Chinachem Group (“CCG”) is a leading private real estate company in Hong Kong. CCG manages a diverse portfolio of investment and development properties with a footprint of over 9 million square feet. Leveraging its extensive expertise in real estate development, CCG delivers high-quality residential spaces and maintains a robust pipeline of commercial projects, while its property services business creates value by managing assets for sustainable, long-term growth.
CCG is also a hotel owner and operator, managing and operating properties under the Nina Hotels and Lodgewood by Nina Hospitality brands. The acquisition of Pine Care Group marks CCG’s expansion into elderly care services, underscoring its commitment to delivering pristine care for the elderly.
With a workforce of over 4,000 employees, CCG is dedicated to making better places to live, work and raise future generations in Hong Kong and beyond.
Please visit www.chinachemgroup.com/en