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CHINAPLAS Focuses on Green, Smart, and High-Tech Solutions for a Sustainable Future of the Plastics and Rubber Industries


SHENZHEN, CHINA – Media OutReach Newswire – 23 January 2025 – China remains crucial in global economic growth, with a steadily expanding Purchasing Managers’ Index (PMI) and confidence in meeting growth targets, solidifying its position as a powerhouse in the global economy. In November 2024, the PMI of China’s manufacturing industry reached 50.3%, an increase for three consecutive months, indicating an accelerating pace in the expansion of the manufacturing industry, according to the National Bureau of Statistics of China. Building upon this momentum, CHINAPLAS 2025, themed “Transformation * Collaboration * Sustainability,” will take place at Shenzhen World Exhibition & Convention Center, PR China, on April 15-18, 2025. Expanding from its 2023 edition in Shenzhen, CHINAPLAS 2025 will host over 4,000 international exhibitors, with 380,000 sqm of space across all 19 halls, showcasing the latest innovations in plastics and rubber solutions. Together with 9 country/region pavilions, CHINAPLAS 2025 will facilitate collaboration along the upstream and downstream industry chains, leading the way with green, smart and high-tech solutions to drive high-quality industrial growth.

Pre-register Now

Green: Innovating for Circular Economy

Sustainability and environmental awareness have become global industry trends. By emphasizing the reuse of resources to minimize waste and stimulate economic growth, the exhibition will demonstrate a clear dedication to addressing environmental challenges. This focus aligns seamlessly with China’s progressive policies promoting sustainability and recycling initiatives, reflecting the industry’s proactive stance towards a more sustainable future. Suppliers in the plastics and rubber industries are consistently unveiling biodegradable materials, recycling, and sustainable solutions as they actively propel efforts toward a circular economy.

CHINAPLAS 2025 will feature three thematic zones, namely Recycled Plastics, Bioplastics, and Recycling Technology, covering around 16,000 sqm and gathering leading material suppliers and recycling machine manufacturers, including Veolia, Faurecia, ALBA, Esun, NatureWorks, Erema, Starlinger, NGR, Zerma, Sorema, Sesotec, Avian, Tomra, Jwell, etc. which will present their sustainable technologies and solutions, supporting the industry’s goals for environmentally friendly development. Live demonstrations of two recycling production lines, focusing on ‘Bottle-to-Bottle Closed-Loop Recycling’ and ‘Turning PE Waste into Treasure,’ will unveil advanced equipment technology and high-value utilization solutions within the plastic recycling sector. The sports and leisure industry, a promising market for plastics and rubber applications, will also be highlighted at CHINAPLAS with the “SportsTech Chic + Green” event, collaborating with renowned sports brands to showcase the innovation and sustainability of plastics and rubber in sports products. CHINAPLAS x CPRJ will host the 6th Edition Plastics Recycling & Circular Economy Conference & Showcase in Shenzhen, gathering global stakeholders to delve into the latest recycling trends. Collaborating with the China Packaging Federation, CHINAPLAS will first introduce the Sustainable Plastics Packaging Networking Forum, connecting industry experts and exploring sustainable packaging solutions worldwide.

Smart: Evolving digitally in Manufacturing

Smart Manufacturing, encompassing technologies like automation, artificial intelligence and IoT integration, enhances manufacturing processes and revolutionizes industries by boosting efficiency, productivity, and flexibility. Through tools like predictive maintenance, real-time monitoring, and automated quality control, production output and quality is improved that eventually fosters sustainability efforts in the plastics and rubber industries.

At CHINAPLAS 2025, an extensive range of smart manufacturing solutions and machinery will be unveiled in the Injection Molding Solutions Zone and Injection Molding and Smart Manufacturing Solutions Zone, covering a substantial 53,000 sqm. Leading global companies like Arburg, Kraussmaffei, Wittmann, Fanuc, JSW, Siemens, Kawata, Matsui, Keba, Beckhoff, Gimatic, Star Seiki, Hong Kong Plastic Machinery Association Pavilion, etc. will demonstrate digitalization, ensuring sustainable growth and competitive advantages in a rapidly evolving digital landscape.

China’s High Tech: Empowering the Global Plastics and Rubber Markets

China remains in the spotlight for cutting-edge advancements and industry collaborations. Within the plastics and rubber industries, China’s high technology stands as a cornerstone for innovation and progress. China’s strides in cutting-edge fields like artificial intelligence, robotics, and intelligent manufacturing solutions are actively reshaping the industry’s direction, driving sustainable growth and fostering a culture of continuous advancement. These breakthroughs underscore China’s commitment to pushing the boundaries of what’s possible in the plastics and rubber industries, setting new standards for efficiency, quality, and technological sophistication.

CHINAPLAS 2025 will shine a spotlight on a diverse selection of cutting-edge materials and machinery technologies. These include carbon fiber composites tailored for the low-altitude economy, photovoltaic films, high-performance films, food-grade rPET, UV-resistant functional fabrics, lightweight and electrification solutions, and digitalized smart manufacturing solutions. This year, the exhibition will gather 900 registered exhibitors which are recognized as “Professionalization, Refinement, Specialization and Innovation (PRSI)”. It aims to support the innovation of niche companies and advance the initiatives of the Government of the People’s Republic of China.

Click HERE to pre-register for CHINAPLAS 2025 now for an admission ticket at RMB 50 or USD 7.5. For more information about the show, please click HERE.
Hashtag: #CHINAPLAS

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

TAL Education Group Announces Unaudited Financial Results for the Third Fiscal Quarter Ended November 30, 2024

BEIJING, Jan. 23, 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 third quarter of fiscal year 2025 ended November 30, 2024.

Highlights for the Third Quarter of Fiscal Year 2025

  • Net revenues were US$606.4 million, compared to net revenues of US$373.5 million in the same period of the prior year.
  • Loss from operations was US$17.4 million, compared to loss from operations of US$32.2 million in the same period of the prior year.
  • Non-GAAP loss from operations, which excluded share-based compensation expenses, was US$1.9 million, compared to non-GAAP loss from operations of US$10.2 million in the same period of the prior year.
  • Net income attributable to TAL was US$23.1 million, compared to net loss attributable to TAL of US$23.9 million in the same period of the prior year.
  • Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$38.6 million, compared to non-GAAP net loss attributable to TAL of US$1.9 million in the same period of the prior year.
  • Basic and diluted net income per American Depositary Share (“ADS”) were both US$0.04. Non-GAAP basic and diluted net income per ADS, which excluded share-based compensation expenses, were both US$0.06. Three ADSs represent one Class A common share.
  • Cash, cash equivalents and short-term investments totaled US$3,835.8 million as of November 30, 2024, compared to US$3,303.3 million as of February 29, 2024.

Highlights for the Nine Months Ended November 30, 2024

  • Net revenues were US$1,640.0 million, compared to net revenues of US$1,060.9 million in the same period of the prior year.
  • Income from operations was US$12.9 million, compared to loss from operations of US$58.2 million in the same period of the prior year.
  • Non-GAAP income from operations, which excluded share-based compensation expenses, was US$63.5 million, compared to non-GAAP income from operations of US$10.2 million in the same period of the prior year.
  • Net income attributable to TAL was US$91.9 million, compared to net loss attributable to TAL of US$31.1 million in the same period of the prior year.
  • Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$142.5 million, compared to non-GAAP net income attributable to TAL of US$37.3 million in the same period of the prior year.
  • Basic and diluted net income per ADS were both US$0.15. Non-GAAP basic net income per ADS, which excluded share-based compensation expenses, was US$0.24, and Non-GAAP diluted net income per ADS, which excluded share-based compensation expenses, was US$0.23.

Financial Data——Third Quarter and First Nine Months of Fiscal Year 2025
(In US$ thousands, except per ADS data and percentages)

Three Months Ended

November 30,

2023

2024

Pct. Change

Net revenues

373,506

606,446

62.4 %

Loss from operations

(32,185)

(17,432)

(45.8 %)

Non-GAAP loss from operations

(10,184)

(1,920)

(81.1 %)

Net (loss)/income attributable to TAL

(23,946)

23,069

(196.3 %)

Non-GAAP net (loss)/income attributable to TAL

(1,945)

38,581

(2,083.6 %)

Net (loss)/income per ADS attributable to TAL –
basic

(0.04)

0.04

(195.5 %)

Net (loss)/income per ADS attributable to TAL –
diluted

(0.04)

0.04

(194.1 %)

Non-GAAP net (loss)/income per ADS attributable
to TAL – basic

(0.00)

0.06

(2,066.2 %)

Non-GAAP net (loss)/income per ADS attributable
to TAL – diluted

(0.00)

0.06

(2,037.0 %)

Nine Months Ended

November 30,

2023

2024

Pct. Change

Net revenues

1,060,877

1,639,994

54.6 %

(Loss)/income from operations

(58,168)

12,860

(122.1 %)

Non-GAAP income from operations

10,229

63,476

520.5 %

Net (loss)/income attributable to TAL

(31,081)

91,902

(395.7 %)

Non-GAAP net income attributable to TAL

37,316

142,518

281.9 %

Net (loss)/income per ADS attributable to TAL –
basic

(0.05)

0.15

(399.0 %)

Net (loss)/income per ADS attributable to TAL –
diluted

(0.05)

0.15

(394.1 %)

Non-GAAP net income per ADS attributable to
TAL – basic

0.06

0.24

286.2 %

Non-GAAP net income per ADS attributable to
TAL – diluted

0.06

0.23

286.3 %

“We achieved healthy year-on-year revenue growth this quarter. Our AI learning devices remained one of our faster-growing business lines and received encouraging user feedback and market recognition,” said Alex Peng, TAL’s President & Chief Financial Officer.

“We will continue to enhance our products’ capabilities and adaptability across learning services and content solutions. As always, we are committed to helping more users discover learning solutions that meet their unique needs while also contributing positively to society.”

Financial Results for the Third Quarter of Fiscal Year 2025

Net Revenues

In the third quarter of fiscal year 2025, TAL reported net revenues of US$606.4 million, representing a 62.4% increase from US$373.5 million in the third quarter of fiscal year 2024.

Operating Costs and Expenses

In the third quarter of fiscal year 2025, operating costs and expenses were US$624.7 million, representing a 53.9% increase from US$405.8 million in the third quarter of fiscal year 2024. Non-GAAP operating costs and expenses, which excluded share-based compensation expenses, were US$609.2 million, representing a 58.7% increase from US$383.8 million in the third quarter of fiscal year 2024.

Cost of revenues increased by 65.5% to US$286.7 million from US$173.2 million in the third quarter of fiscal year 2024. Non-GAAP cost of revenues, which excluded share-based compensation expenses, increased by 67.2% to US$285.4 million, from US$170.7 million in the third quarter of fiscal year 2024.

Selling and marketing expenses increased by 85.6% to US$226.4 million from US$122.0 million in the third quarter of fiscal year 2024. Non-GAAP selling and marketing expenses, which excluded share-based compensation expenses, increased by 91.0% to US$222.4 million, from US$116.4 million in the third quarter of fiscal year 2024.

General and administrative expenses increased by 0.8% to US$111.5 million from US$110.7 million in the third quarter of fiscal year 2024. Non-GAAP general and administrative expenses, which excluded share-based compensation expenses, increased by 4.8% to US$101.4 million, from US$96.7 million in the third quarter of fiscal year 2024.

Total share-based compensation expenses allocated to the related operating costs and expenses decreased by 29.5% to US$15.5 million in the third quarter of fiscal year 2025 from US$22.0 million in the same period of fiscal year 2024.

Gross Profit

Gross profit increased by 59.6% to US$319.8 million from US$200.3 million in the third quarter of fiscal year 2024.

(Loss)/Income from Operations

Loss from operations was US$17.4 million in the third quarter of fiscal year 2025, compared to loss from operations of US$32.2 million in the third quarter of fiscal year 2024. Non-GAAP loss from operations, which excluded share-based compensation expenses, was US$1.9 million, compared to Non-GAAP loss from operations of US$10.2 million in the same period of the prior year.

Other Income, Net

Other income was US$18.2 million for the third quarter of fiscal year 2025, compared to other income of US$13.3 million in the third quarter of fiscal year 2024.

Impairment Loss on Long-term Investments

Impairment loss on long-term investments was nil for the third quarter of fiscal year 2025, compared to US$2.3 million for the third quarter of fiscal year 2024.

Income Tax (Expense)/Benefit

Income tax benefit was US$3.6 million in the third quarter of fiscal year 2025, compared to US$15.4 million of income tax expense in the third quarter of fiscal year 2024.

Net (Loss)/Income attributable to TAL Education Group

Net income attributable to TAL was US$23.1 million in the third quarter of fiscal year 2025, compared to net loss attributable to TAL of US$23.9 million in the third quarter of fiscal year 2024. Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$38.6 million, compared to Non-GAAP net loss attributable to TAL of US$1.9 million in the third quarter of fiscal year 2024.

Basic and Diluted Net (Loss)/Income per ADS

Basic and diluted net income per ADS were both US$0.04 in the third quarter of fiscal year 2025. Non-GAAP basic and diluted net income per ADS, which excluded share-based compensation expenses, were both US$0.06 in the third quarter of fiscal year 2025.

Cash Flow

Net cash provided by operating activities for the third quarter of fiscal year 2025 was US$378.0 million.

Cash, Cash Equivalents, and Short-Term Investments

As of November 30, 2024, the Company had US$2,240.8 million of cash and cash equivalents and US$1,595.0 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 November 30, 2024, the Company’s deferred revenue balance was US$825.6 million, compared to US$428.3 million as of February 29, 2024.

Financial Results for the First Nine Months of Fiscal Year 2025

Net Revenues

For the first nine months of fiscal year 2025, TAL reported net revenues of US$1,640.0 million, representing a 54.6% increase from US$1,060.9 million in the first nine months of fiscal year 2024.

Operating Costs and Expenses

In the first nine months of fiscal year 2025, operating costs and expenses were US$1,628.8 million, representing a 44.1% increase from US$1,130.7 million in the first nine months of fiscal year 2024. Non-GAAP operating costs and expenses, which excluded share-based compensation expenses, were US$1,578.2 million, representing a 48.6% increase from US$1,062.3 million in the first nine months of fiscal year 2024.

Cost of revenues increased by 57.1% to US$757.3 million from US$482.1 million in the first nine months of fiscal year 2024. Non-GAAP cost of revenues, which excluded share-based compensation expenses, increased by 58.3% to US$751.9 million from US$475.1 million in the first nine months of fiscal year 2024.

Selling and marketing expenses increased by 58.0% to US$530.8 million from US$335.9 million in the first nine months of fiscal year 2024. Non-GAAP selling and marketing expenses, which excluded share-based compensation expenses, increased by 63.6% to US$518.4 million from US$316.8 million in the first nine months of fiscal year 2024.

General and administrative expenses increased by 9.0% to US$340.7 million from US$312.7 million in the first nine months of fiscal year 2024. Non-GAAP general and administrative expenses, which excluded share-based compensation expenses, increased by 13.9% to US$307.9 million from US$270.4 million in the first nine months of fiscal year 2024.

Total share-based compensation expenses allocated to the related operating costs and expenses decreased by 26.0% to US$50.6 million in the first nine months of fiscal year 2025 from US$68.4 million in the same period of fiscal year 2024.

Gross Profit

Gross profit increased by 52.5% to US$882.7 million from US$578.8 million in the first nine months of fiscal year 2024.

(Loss)/Income from Operations

Income from operations was US$12.9 million in the first nine months of fiscal year 2025, compared to loss from operations of US$58.2 million in the same period of the prior year. Non-GAAP income from operations, which excluded share-based compensation expenses, was US$63.5 million, compared to US$10.2 million Non-GAAP income from operations in the same period of the prior year.

Other Income, Net

Other income was US$51.8 million for the first nine months of fiscal year 2025, compared to other income of US$11.5 million in the same period of the prior year.

Impairment Loss on Long-term Investments

Impairment loss on long-term investments was US$8.7 million for the first nine months of fiscal year 2025, compared to US$33.0 million for the first nine months of fiscal year 2024.

Income Tax (Expense)/Benefit

Income tax expense was US$24.3 million in the first nine months of fiscal year 2025, compared to US$8.9 million of income tax expense in the first nine months of fiscal year 2024.

Net (Loss)/Income Attributable to TAL Education Group

Net income attributable to TAL was US$91.9 million in the first nine months of fiscal year 2025, compared to net loss attributable to TAL of US$31.1 million in the first nine months of fiscal year 2024. Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$142.5 million, compared to US$37.3 million Non-GAAP net income attributable to TAL in the same period of the prior year.

Cash Flow

Net cash provided by operating activities for the first nine months of fiscal year 2025 was US$624.3 million.

Basic and Diluted Net (Loss)/Income per ADS

Basic and diluted net income per ADS were both US$0.15 in the first nine months of fiscal year 2025. Non-GAAP basic net income per ADS, which excluded share-based compensation expenses, was US$0.24, and Non-GAAP diluted net income per ADS, which excluded share-based compensation expenses, was US$0.23 in the first nine months of fiscal year 2025.

Conference Call

The Company will host a conference call and live webcast to discuss its financial results for the third fiscal quarter of fiscal year 2025 ended November 30, 2024 at 7:00 a.m. Eastern Time on January 23, 2025 (8:00 p.m. Beijing time on January 23, 2025).

Please note that you will need to pre-register for conference call participation at https://register.vevent.com/register/BI252a8b58f53a47cebdf55358dda997b1.

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 operating costs and expenses, non-GAAP cost of revenues, non-GAAP selling and marketing expenses, non-GAAP general and administrative expenses, non-GAAP income/(loss) from operations, non-GAAP net income/(loss) attributable to TAL, non-GAAP basic and non-GAAP diluted net income/(loss) 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,
2024

As of

November 30,
2024

ASSETS

Current assets

  Cash and cash equivalents

$ 2,208,756

$ 2,240,827

  Restricted cash-current

167,656

306,549

  Short-term investments

1,094,593

1,595,027

  Inventory

68,328

98,021

  Amounts due from related parties-current

343

387

  Prepaid expenses and other current assets

159,498

207,943

Total current assets

3,699,174

4,448,754

  Restricted cash-non-current

81,064

41,078

  Property and equipment, net

405,319

460,566

  Deferred tax assets

4,620

5,165

  Rental deposits

16,947

20,669

  Intangible assets, net

1,988

964

  Land use right, net

189,049

184,937

   Amounts due from related parties-non-current

59

59

   Long-term investments

284,266

276,254

   Long-term prepayments and other non-current assets

14,359

28,055

   Operating lease right-of-use assets

231,104

322,563

Total assets

$ 4,927,949

$ 5,789,064

LIABILITIES AND EQUITY

 Current liabilities

 Accounts payable

$ 127,321

$ 189,271

 Deferred revenue-current

400,286

780,909

 Amounts due to related parties-current

96

107

 Accrued expenses and other current liabilities

491,911

625,274

 Short-term debt

55,231

 Operating lease liabilities, current portion

62,604

82,513

 Total current liabilities

1,082,218

1,733,305

 Deferred revenue-non-current

27,993

44,710

 Deferred tax liabilities

2,360

4,040

 Operating lease liabilities, non-current portion

176,614

243,346

Total liabilities

1,289,185

2,025,401

  Equity

  Class A common shares

152

154

  Class B common shares

49

49

  Additional paid-in capital

4,256,957

4,280,212

  Statutory reserve

165,138

164,370

  Accumulated deficit

(694,270)

(601,600)

  Accumulated other comprehensive loss 

(65,928)

(70,493)

 Total TAL Education Group’s equity

3,662,098

3,772,692

  Noncontrolling interests

(23,334)

(9,029)

Total equity

3,638,764

3,763,663

Total liabilities and equity

$ 4,927,949

$ 5,789,064

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
November 30,

For the Nine Months Ended

November 30,

2023

2024

2023

2024

Net revenues

$ 373,506

$ 606,446

$ 1,060,877

$ 1,639,994

Cost of revenues (note 1)

173,180

286,689

482,075

757,329

Gross profit

200,326

319,757

578,802

882,665

Operating expenses (note 1)

  Selling and marketing

121,977

226,441

335,902

530,769

  General and administrative

110,678

111,537

312,707

340,718

Total operating expenses

232,655

337,978

648,609

871,487

  Government subsidies

144

789

11,639

1,682

(Loss)/income from operations

(32,185)

(17,432)

(58,168)

12,860

Interest income, net

20,076

21,491

64,033

64,410

Other income, net

13,324

18,150

11,511

51,767

Impairment loss on long-term
investments

(2,270)

(33,031)

(8,692)

(Loss)/income before income tax
(expense)/benefit and loss from
equity method investments

(1,055)

22,209

(15,655)

120,345

Income tax (expense)/benefit

(15,374)

3,582

(8,875)

(24,348)

Loss from equity method
investments

(7,644)

(2,765)

(6,936)

(4,337)

Net (loss)/income

(24,073)

23,026

(31,466)

91,660

Add: Net loss attributable to
noncontrolling interests

127

43

385

242

Total net (loss)/income 

  attributable to TAL
Education Group

$ (23,946)

$ 23,069

$ (31,081)

$ 91,902

Net (loss)/income per common
share

  Basic

$ (0.12)

$ 0.11

$ (0.15)

$ 0.46

  Diluted

(0.12)

0.11

(0.15)

0.45

Net (loss)/income per ADS (note
2)

Basic

$ (0.04)

$ 0.04

$ (0.05)

$ 0.15

Diluted

(0.04)

0.04

(0.05)

0.15

Weighted average shares used in
calculating net (loss)/income
per common share

Basic

200,134,875

201,905,486

204,020,823

201,746,602

Diluted

200,134,875

204,949,612

204,020,823

205,093,389

 Note1: Share-based compensation expenses are included in the operating costs and expenses as follows:

For the Three Months

For the Nine Months

Ended November 30,

Ended November 30,

2023

2024

2023

2024

Cost of revenues

$ 2,499

$ 1,271

$ 6,989

$ 5,426

Selling and marketing expenses

5,558

4,082

19,120

12,410

General and administrative expenses

13,944

10,159

42,288

32,780

Total

$ 22,001

$ 15,512

$ 68,397

$ 50,616

Note 2: Three ADSs represent one Class A common Share.

TAL EDUCATION GROUP

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF

COMPREHENSIVE (LOSS)/INCOME

(In thousands of U.S. dollars)

For the Three Months Ended

November 30,

For the Nine Months Ended

November 30,

2023

2024

2023

2024

Net (loss)/income

$ (24,073)

$ 23,026

$ (31,466)

$ 91,660

Other comprehensive income/
(loss), net of tax

18,356

(21,512)

(26,239)

(4,348)

Comprehensive (loss)/income

(5,717)

1,514

(57,705)

87,312

Add: Comprehensive
loss/(income) attributable to
noncontrolling interests

557

(2,308)

(356)

25

Comprehensive (loss)/income
attributable to TAL
Education Group

$ (5,160)

$ (794)

$ (58,061)

$ 87,337

TAL EDUCATION GROUP

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF

CASH FLOWS

(In thousands of U.S. dollars)

For the Three Months Ended

November 30,

For the Nine Months Ended

November 30,

2023

2024

2023

2024

Net cash provided by operating
activities

$ 247,123

$ 378,038

$ 329,918

$ 624,255

Net cash (used in)/provided by
investing activities

(208,847)

(214,435)

133,955

(532,739)

Net cash provided by/(used in)
financing activities

207

48,731

(233,301)

41,937

Effect of exchange rate
changes

6,805

(4,834)

(3,111)

(2,475)

Net increase in cash, cash
equivalents and restricted
cash

45,288

207,500

227,461

130,978

Cash, cash equivalents and
restricted cash at the
beginning of period

2,477,080

2,380,954

2,294,907

2,457,476

Cash, cash equivalents and
restricted cash at the end
of period

$ 2,522,368

$ 2,588,454

$ 2,522,368

$ 2,588,454

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 November 30,

For the Nine Months
Ended November 30,

2023

2024

2023

2024

Cost of revenues

$ 173,180

$ 286,689

$ 482,075

$ 757,329

Share-based compensation expense in
cost of revenues

2,499

1,271

6,989

5,426

Non-GAAP cost of revenues

170,681

285,418

475,086

751,903

Selling and marketing expenses

121,977

226,441

335,902

530,769

Share-based compensation expense in
selling and marketing expenses

5,558

4,082

19,120

12,410

Non-GAAP selling and marketing
expenses

116,419

222,359

316,782

518,359

General and administrative expenses

110,678

111,537

312,707

340,718

Share-based compensation expense in
general and administrative expenses

13,944

10,159

42,288

32,780

Non-GAAP general and
administrative expenses

96,734

101,378

270,419

307,938

Operating costs and expenses

405,835

624,667

1,130,684

1,628,816

Share-based compensation expense in
operating costs and expenses

22,001

15,512

68,397

50,616

Non-GAAP operating costs and
expenses

383,834

609,155

1,062,287

1,578,200

(Loss)/income from operations

(32,185)

(17,432)

(58,168)

12,860

Share based compensation expenses

22,001

15,512

68,397

50,616

Non-GAAP (loss)/income from
operations

(10,184)

(1,920)

10,229

63,476

Net (loss)/income attributable to
TAL Education Group

(23,946)

23,069

(31,081)

91,902

Share based compensation expenses

22,001

15,512

68,397

50,616

Non-GAAP net (loss)/income
attributable to TAL Education
Group
(note 3)

$ (1,945)

$ 38,581

$ 37,316

$ 142,518

Net (loss)/income per ADS

Basic

$ (0.04)

$ 0.04

$ (0.05)

$ 0.15

Diluted

(0.04)

0.04

(0.05)

0.15

Non-GAAP net (loss)/income per ADS

Basic

$ (0.00)

$ 0.06

$ 0.06

$ 0.24

Diluted

(0.00)

0.06

0.06

0.23

ADSs used in calculating net (loss)/income per ADS

Basic

600,404,625

605,716,458

612,062,469

605,239,806

Diluted

600,404,625

614,848,836

612,062,469

615,280,167

ADSs used in calculating Non-GAAP net (loss)/income per ADS

Basic

600,404,625

605,716,458

612,062,469

605,239,806

Diluted

600,404,625

614,848,836

622,332,267

615,280,167

  Note 3: The tax effect of share-based compensation expenses was immaterial in the third quarter and in the first nine months of fiscal year 2025.

Clubpets Hosts Singapore Cat Carnival 2025 On 22 & 23 February


SINGAPORE – Media OutReach Newswire – 23 January 2025 – The Singapore Cat Carnival 2025, the first cat-exclusive event at Marina Bay Sands, is set to captivate feline enthusiasts on 22 and 23 February 2025 at Marina Bay Sands Expo & Convention Centre, Level 1, Hall C. Running from 10 AM to 8 PM, the event aims to bring together cat owners, breeders, and enthusiasts to celebrate all aspects of feline care, welfare, and appreciation through a lineup of activities, workshops, and informative sessions.

Organised by Clubpets, one of the event’s standout highlights is the ISFC International Cat Grooming Certification and Competition, the biggest cat grooming competition in Singapore, attracting international participants from Taiwan, Malaysia, Thailand, Indonesia, and Myanmar. Organised by the International Society of Feline Cosmetologists (ISFC), this global competition showcases the talent of grooming professionals while promoting international standards in feline grooming education. Originating from the United States, the ISFC is renowned for raising grooming standards worldwide and fostering a global network of skilled cat groomers. At the carnival, participants and spectators alike will witness incredible grooming artistry as professionals demonstrate their expertise live. The Singapore Cat Carnival will serve as a stage for showcasing this talent, with international students and grooming professionals gathering in Singapore for this event.

Another key highlight is the Breeds of The World Showcase presented by Feline Club Singapore, where visitors can observe and interact with popular cat breeds like the Maine Coon, British Shorthair, and Siberian in immersive rooms. The showcase also provides a breed talk throughout the two days, where there would be educational perspectives on the origins, characteristics, and care requirements of each breed, offering insights for potential cat owners and enthusiasts interested in breed-specific traits. Expert handlers will be present on-site to answer questions, ensuring visitors leave with a better understanding of feline diversity and the importance of responsible cat ownership.

To further engage attendees, the carnival offers hands-on workshops and talks, covering essential topics like cat care, nutrition, and healthcare, alongside interactive play sessions where visitors can book time slots to interact and play with the cats. Additionally, attendees can book slots for free skin and coat consultations and basic grooming services, including nail trimming, ear cleaning, and paw pad shaving, ensuring an engaging and educational experience for all.

The event will also host a series of interactive contests, including the Best Dressed Cat, Cutest Cat, and Most Talented Cat competitions. These activities aim to foster a fun and inclusive atmosphere while celebrating the creativity and bond between cats and their owners.

The carnival seeks to foster a sense of community among cat lovers while raising awareness about responsible pet ownership. With a mission to promote cat welfare, the event provides a platform to learn about ethical breeding practices, professional grooming, and the importance of adopting shelter animals.

Since its inception in 2002, Clubpets has been a premier pets magazine platform and a trusted name in connecting pet enthusiasts and professionals in Singapore. With a strong focus on education and community, the Singapore Cat Carnival 2025 continues this legacy by creating an unforgettable experience for all attendees.

For more information on the Singapore Cat Carnival 2025, please visit https://sgcatcarnival.com/.
Hashtag: #Clubpets #SingaporeCatCarnival2025



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

European Wellness Biomedical Group (EWBG) Partners with Toviyah Life to Unveil Cutting-Edge Health Technology

KOTA KINABALU, Malaysia, Jan. 23, 2025 /PRNewswire/ — The European Wellness Biomedical Group (EWBG) and Toviyah Life Pte Ltd (Toviyah) have announced a new partnership aimed at improving wellness through a handheld device called BeLight. The two companies signed a Memorandum of Understanding (MOU) today, marking an exciting step towards making wellness easier for everyone.

Prof. Dato' Sri Dr. Mike Chan and Kevin Chua exchange MOU signings, marking a significant partnership between European Wellness Biomedical Group and Toviyah Life Pte Ltd. This collaboration aims to revolutionize wellness solutions.
Prof. Dato’ Sri Dr. Mike Chan and Kevin Chua exchange MOU signings, marking a significant partnership between European Wellness Biomedical Group and Toviyah Life Pte Ltd. This collaboration aims to revolutionize wellness solutions.

The BeLight device is a cutting-edge, blood-targeted low-level laser therapy (LLLT) tool designed to enhance overall wellness. Utilizing advanced European technology, it emits a 650nm laser through five diodes with a 5mW output, providing safe and effective treatment in just 30 minutes per session, up to three times a day. This device is ideal for improving energy levels and addressing chronic conditions, offering a painless, non-invasive, and drug-free solution. With its ergonomic design, BeLight is perfect for on-the-go use and comes with a 1-year international warranty for added peace of mind.

This collaboration combines EWBG’s experience in the wellness market with Toviyah’s innovative BeLight device, which aims to provide simple and effective wellness solutions that anyone can use.

“We’re really excited to work with Toviyah. Their advanced laser technology fits perfectly with our mission to make wellness accessible to all,” said Prof. Dato’ Sri Dr. Mike Chan, Founder and Chairman of EWBG. “I believe this is one of the best inventions. It’s incredibly practical, won’t slip from your hand, and boasts a strong grip.”

Kevin Chua, CEO of Toviyah, highlighted the importance of blood circulation, stating, “At Toviyah Life, our mission is to empower individuals with a portable solution that enhances blood circulation and cellular function anytime, anywhere.” He added, “We are not just launching a groundbreaking product—the BeLight device—but also sharing the future of personalized health and wellness, starting right here in Malaysia.”

The MoU signing was attended by key members from both companies, including Francis Chung, Group COO, Dr. Glen Alvin, Director of Clinics at EW Clinic, along with EWBG’s Medical team. Malaysia will serve as the first market for these new wellness solutions, allowing the companies to gather feedback and adjust their approach before expanding to other regions. This careful planning ensures that the products will meet the varied needs of consumers effectively.

“I want to extend my heartfelt congratulations to Toviyah Life and Kevin for their hard work, years of planning, and dedication to prototyping. It takes immense brainpower, effort, and resilience to bring such a device to fruition,” Prof. Mike Chan expressed during the ceremony.

In closing, Prof. Mike Chan remarked, “We lead the way, and while others may follow, it’s perfectly fine. We are continually advancing to the next level.”

About European Wellness Biomedical Group (EWBG)

EWBG is a well-known leader in the field of health and wellness for four decades, focusing on innovative and non-invasive treatments. The company works in several countries and collaborates with top researchers and medical institutions to offer advanced wellness solutions. They are committed to helping people take charge of their health through education and a range of targeted organ-specific and brain-specific stem cell therapies designed to enhance vitality and well-being.

About Toviyah Life Pte Ltd

Founded in 2010, Toviyah Life is a global maker of health and wellness devices. Their mission is to create user-friendly products that promote better health. One of their latest innovations is the BeLight handheld device, which uses non-invasive laser therapy to improve health, sleep, energy levels, and mood.

This partnership between EWBG and Toviyah promises to bring exciting new wellness solutions that are both effective and easy to use, making it easier for everyone to take care of their health.

CONTACT: Justin Chew, +60-17-890 2530, justin.chew@european-wellness.com  

Laos Mining Sector Attracts Over USD 2.4 Billion in 2024 Investments

Laos Mining Sector Attracts Over USD 2.4 Billion in 2024 Investments
Miners and engineers operate deep within a mining site managed by Lanexang Mineral Company in Laos (Photo credit: Energy and Mines Center)

Laos’ mining industry attracted nearly USD 2.5 billion in investments in 2024, surpassing annual targets and showcasing the sector’s critical role in driving economic growth, according to the Department of Mines Management report.

Fourth Time on the List! Kingdee Credit Tech Earns Spot on “2024 KMPG China Fintech 50”

SHENZHEN, China, Jan. 23, 2025 /PRNewswire/ — Recently, the “2024 KPMG China Fintech 50” list release and award ceremony was held in Shanghai. Kingdee Credit Technology (Shenzhen) Co., Ltd. (“Kingdee Credit Tech”), a leader in the field of enterprise digital credit, was recognized for the fourth time for its outstanding contributions to empowering inclusive finance over the past decade.

Since the launch of KPMG China’s first “Fintech 50” list in 2016, the “KPMG Fintech 50” has attracted significant attention from the industry. The selection committee for this year’s list included dozens of professionals and representatives from KPMG’s global and China offices, reflecting the cutting-edge technology and innovation in China’s fintech sector.

In his speech, Zhang Chudong, KPMG’s Asia-Pacific and China Financial Services Managing Partner, emphasized that the development of cutting-edge technologies like generative AI is driving fintech innovation in areas such as financial product development, service optimization, and risk management, empowering the five major areas of the financial industry: technology finance, green finance, inclusive finance, pension finance, and digital finance.

In the rapidly transforming fintech field, data has become the key fuel driving innovation and decision-making. Kingdee Credit Tech’s inclusion for the fourth time is a testament to its ongoing commitment to “ensuring every enterprise has digital credit.” By leveraging core technologies such as AI, big data, graph computing, and RPA, Kingdee Credit Tech integrates multi-dimensional data from authorized financial, tax, invoice, and corporate legal sources. Through self-developed and bank-collaborated credit risk assessment models, the company supports financial institutions in achieving precise marketing and risk management, effectively contributing to the growth of the real economy. Currently, Kingdee Credit Tech collaborates with over 200 banks and financial institutions and has helped 700,000 small businesses access over 180 billion yuan in digital credit.

Kingdee Credit Tech’s “Industry Transaction Map” has been widely applied in areas such as microfinance and supply chain finance, offering banks accurate solutions for reaching high-quality enterprises within the industrial chain. With a vast accumulation of authorized data and advanced graph computing technology, banks can accurately identify the relationship networks and transaction links of enterprises and their upstream and downstream partners. This allows them to filter out high-quality companies and even identify small businesses with up to six layers of transactional or equity relationships with core enterprises, thereby enhancing customer acquisition and risk control efficiency. For example, in partnership with JD Technology, Kingdee Credit helped 500,000 businesses within the industry map gain higher supply chain financing, effectively improving liquidity in the supply chain. In the microfinance sector, Kingdee Credit Tech launched the Kingdee Feiqi App, providing small enterprises with efficient and intelligent online financing services.

In the field of small and micro-enterprise services, Kingdee Credit Tech has launched Ailit, a SaaS APP for inventory and sales management specifically tailored for Chinese businesses and entrepreneurs. It supports multiple languages, currencies, and exchange rate switching, including Simplified Chinese, Traditional Chinese, English, Portuguese, and Spanish. Ailit meets the needs of overseas clients in areas such as invoicing, inventory management, financial reconciliation, and business analysis, helping to enhance the operational efficiency of their international businesses.

Looking ahead, Kingdee Credit Tech will continue to leverage the value of digital credit and actively explore innovative fintech applications to support the high-quality development of digital inclusive finance.

 

Changsha Positions Itself as a Global Destination this Lunar New Year with Trip.com Group

SHANGHAI, Jan. 23, 2025 /PRNewswire/ — Changsha, the vibrant capital of Hunan Province, is becoming a must-visit destination for global travellers, thanks to its rich history, cultural diversity, and modern allure. This Lunar New Year, the city celebrated its growing global appeal through the “Taste of Chinese New Year, Joyful Changsha Flavour” event, held from January 12-14.

This special initiative, co-organised by the Changsha Municipal Bureau of Culture, Tourism, Radio, and Television in partnership with Trip.com Group, welcomed 11 groups of international travellers from 12 countries and regions, including the UK, South Korea, Japan, Spain, Australia, and Canada.


Showcasing Changsha’s Cultural and Scenic Offerings

The event highlighted Changsha’s diverse cultural and tourism assets. Guests were introduced to the city’s heritage at the Intangible Cultural Heritage Museum, which blends traditional craftsmanship with modern technology. The experience continued at Tongguan Kiln National Style Park, featuring captivating cultural performances such as “iron flower” and “fire pot,” showcasing the city’s unique traditions.

Travellers also visited Juzizhou (Orange Isle), an iconic site renowned for its scenic beauty. Culinary experiences were central to the program, with visitors sampling authentic Hunan cuisine at the Huogongdian (Fire Palace) on Pozi Street. Signature dishes such as tangyuan (glutinous rice balls) provided a cultural and gastronomic connection to the festive spirit.

Changsha’s Transformation into a Global City

The city’s modernisation and enhanced infrastructure left a strong impression on visitors. Travelers noted improvements in public facilities, high-speed rail efficiency, and a youthful vibrancy that reflects Changsha’s growing appeal as an international destination. Returning visitors highlighted its evolving global relevance, with one traveller describing the city as “more fashionable and international” compared to prior visits.

Driving Growth in Global Tourism

According to Trip.com data, inbound tourism to China during the Spring Festival period surged by 203% year-on-year, with Hunan Province achieving a 61% increase and Changsha reporting a significant 98% growth in bookings. This reflects the city’s expanding global appeal, supported by strategic initiatives to enhance its tourism offerings and international outreach.

As Changsha continues to innovate and expand its global footprint, its collaboration with Trip.com Group and commitment to enhancing its tourism ecosystem position it as a rising star in the global travel market, offering an exceptional blend of history, culture, and modernity to international travellers.

About Trip.com Group

Trip.com Group is a leading global travel service provider comprising of Trip.com, Ctrip, Skyscanner, and Qunar. Across its platforms, Trip.com Group helps travellers around the world make informed and cost-effective bookings for travel products and services and enables partners to connect their offerings with users through the aggregation of comprehensive travel-related content and resources, and an advanced transaction platform consisting of apps, websites and 24/7 customer service centres. Founded in 1999 and listed on NASDAQ in 2003 and HKEX in 2021, Trip.com Group has become one of the best-known travel groups in the world, with the mission “to pursue the perfect trip for a better world”. Find out more about Trip.com Group here. Follow us on Twitter, Facebook, LinkedIn, and YouTube.

Logistics Management & Hikvision white paper: Harnessing the power of open and collaborative systems in logistics

HANGZHOU, China, Jan. 23, 2025 /PRNewswire/ — In today’s rapidly evolving e-commerce landscape, the ability to manage high-volume logistics operations efficiently and effectively is more critical than ever. Supply chain disruptions, changing customer expectations, and rising costs are just a few of the challenges that logistics managers face daily. To navigate these complexities, companies are increasingly turning to integrated technology solutions that can streamline processes, improve decision-making, automate tasks, and enhance customer service levels.

Logistics Management Magazine and Hikvision have jointly released a new white paper to explore the transformative power of open and collaborative systems in logistics.
Logistics Management Magazine and Hikvision have jointly released a new white paper to explore the transformative power of open and collaborative systems in logistics.

Logistics Management Magazine and Hikvision have jointly released a new white paper to explore the transformative power of open and collaborative systems in logistics. The white paper shares insights into how integrated technology ecosystems can help organizations break down data silos, improve end-to-end visibility, and achieve significant operational efficiencies.

  • Disparate systems lead to inefficiencies

In the modern logistics landscape, traditional on-premises legacy systems often struggle to communicate with each other, resulting in data silos, manual interventions, and poor visibility across the organization. These issues are particularly pronounced in e-commerce, where accurate and timely insights have become more important than ever for logistics and supply chain operations.

  • Integration is the solution

To address these and other challenges, smart organizations are using more integrated solutions that break down silos. By connecting different systems such as Enterprise Resource Planning (ERP), Warehouse Management Systems (WMS), Transportation Management Systems (TMS), Yard Management Systems (YMS), and Video Management Systems (VMS), companies can achieve a unified view of their end-to-end supply chain.

  • Real-world applications

The white paper provides practical examples of how integrated logistics solutions have helped e-commerce and high-volume logistics parks. For instance, integrated parcel tracking solutions have enabled warehouses to determine responsibility for damage and lost items, reducing the cost of compensation. Yard management systems, integrated with transportation management platforms, use AI to recognize license plates and container numbers, ensuring the orderly movement of vehicles at the gate, loading dock, and yard. 

Discover how open and collaborative systems help organizations adapt to the ever-evolving logistics landscape, ensuring a competitive edge in today’s fast-paced market. Download the full white paper here.