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New Oriental Education

New Oriental is a leading private education provider in China. K-9 academic after-school tutoring used to account for 50%-60% of New Oriental's revenue before the regulatory crackdown in 2021. After terminating its K-9 academic after-school tutoring business, New Oriental has identified a few new initiatives such as nonacademic tutoring and intelligent learning systems and devices. The remaining businesses include high school academic after-school tutoring and overseas-related test preparation and consulting business. The company also owns 55% of East Buy, a market leader in livestreaming e-commerce.

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Shares of US-listed Chinese stocks are trading higher after China's Sept. retail sales and industrial production data beat estimates.

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CZR</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>06/20/25</td>
<td>$45.00</td>
<td>$69.0K</td>
<td>6.5K</td>
<td>1.6K</td>
</tr>
<tr>
<td>TSLA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$420.00</td>
<td>$27.7K</td>
<td>6.9K</td>
<td>1.1K</td>
</tr>
<tr>
<td>DAN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$11.00</td>
<td>$37.5K</td>
<td>1.1K</td>
<td>1.0K</td>
</tr>
<tr>
<td>LI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$30.00</td>
<td>$70.9K</td>
<td>11.3K</td>
<td>477</td>
</tr>
<tr>
<td>CVNA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$187.50</td>
<td>$25.3K</td>
<td>956</td>
<td>330</td>
</tr>
<tr>
<td>F</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$12.17</td>
<td>$32.0K</td>
<td>50.9K</td>
<td>283</td>
</tr>
<tr>
<td>SABR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/19/25</td>
<td>$3.00</td>
<td>$33.3K</td>
<td>838</td>
<td>250</td>
</tr>
<tr>
<td>EDU</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$70.00</td>
<td>$93.5K</td>
<td>185</td>
<td>209</td>
</tr>
<tr>
<td>CBRL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$45.00</td>
<td>$41.1K</td>
<td>425</td>
<td>209</td>
</tr>
<tr>
<td>SBUX</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$80.00</td>
<td>$30.0K</td>
<td>1.8K</td>
<td>206</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For CZR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>), we notice a call option trade that happens to be neutral, expiring in 247 day(s) on June 20, 2025. This event was a transfer of 100 contract(s) at a $45.00 strike. The total cost received by the writing party (or parties) was $69.0K, with a price of $690.0 per contract. There were 6516 open contracts at this strike prior to today, and today 1664 contract(s) were bought and sold. 
• For TSLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), we notice a call option sweep that happens to be bearish, expiring in 93 day(s) on January 17, 2025. This event was a transfer of 550 contract(s) at a $420.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $27.7K, with a price of $50.0 per contract. There were 6972 open contracts at this strike prior to today, and today 1180 contract(s) were bought and sold. 
• For DAN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAN#NYSE">DAN</a>), we notice a call option trade that happens to be bullish, expiring in 30 day(s) on November 15, 2024. This event was a transfer of 500 contract(s) at a $11.00 strike. The total cost received by the writing party (or parties) was $37.5K, with a price of $75.0 per contract. There were 1162 open contracts at this strike prior to today, and today 1000 contract(s) were bought and sold. 
• Regarding LI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>), we observe a call option sweep with bullish sentiment. It expires in 93 day(s) on January 17, 2025. Parties traded 452 contract(s) at a $30.00 strike. This particular call needed to be split into 19 different trades to become filled. The total cost received by the writing party (or parties) was $70.9K, with a price of $157.0 per contract. There were 11385 open contracts at this strike prior to today, and today 477 contract(s) were bought and sold. 
• Regarding CVNA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>), we observe a call option sweep with bearish sentiment. It expires in 2 day(s) on October 18, 2024. Parties traded 35 contract(s) at a $187.50 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $25.3K, with a price of $725.0 per contract. There were 956 open contracts at this strike prior to today, and today 330 contract(s) were bought and sold. 
• For F (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), we notice a call option sweep that happens to be bullish, expiring in 93 day(s) on January 17, 2025. This event was a transfer of 1000 contract(s) at a $12.17 strike. This particular call needed to be split into 15 different trades to become filled. The total cost received by the writing party (or parties) was $32.0K, with a price of $32.0 per contract. There were 50902 open contracts at this strike prior to today, and today 283 contract(s) were bought and sold. 
• For SABR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SABR#NASDAQ">SABR</a>), we notice a call option trade that happens to be bullish, expiring in 429 day(s) on December 19, 2025. This event was a transfer of 249 contract(s) at a $3.00 strike. The total cost received by the writing party (or parties) was $33.3K, with a price of $134.0 per contract. There were 838 open contracts at this strike prior to today, and today 250 contract(s) were bought and sold. 
• For EDU (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDU#NYSE">EDU</a>), we notice a put option trade that happens to be bearish, expiring in 30 day(s) on November 15, 2024. This event was a transfer of 199 contract(s) at a $70.00 strike. The total cost received by the writing party (or parties) was $93.5K, with a price of $470.0 per contract. There were 185 open contracts at this strike prior to today, and today 209 contract(s) were bought and sold. 
• Regarding CBRL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBRL#NASDAQ">CBRL</a>), we observe a put option sweep with bearish sentiment. It expires in 30 day(s) on November 15, 2024. Parties traded 208 contract(s) at a $45.00 strike. This particular put needed to be split into 51 different trades to become filled. The total cost received by the writing party (or parties) was $41.1K, with a price of $202.0 per contract. There were 425 open contracts at this strike prior to today, and today 209 contract(s) were bought and sold. 
• Regarding SBUX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), we observe a put option trade with bullish sentiment. It expires in 156 day(s) on March 21, 2025. Parties traded 150 contract(s) at a $80.00 strike. The total cost received by the writing party (or parties) was $30.0K, with a price of $200.0 per contract. There were 1879 open contracts at this strike prior to today, and today 206 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Shares of US-listed Chinese stocks are trading lower after China's September exports missed estimates. China stimulus uncertainty has also weighed on stocks recently.

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Shares of US-listed Chinese stocks are trading lower after Chinese planning officials reportedly fell short of investor stimulus expectations.

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Shares of US-listed Chinese stocks are trading higher as the sector rebounds following Thursday's selloff. Strength may be due to the recent stimulus package and the Golden Week holidays.

ATGL

Shares of US-listed Chinese stocks are trading lower as the sector pulls back from recent strength. These companies rallied after the People's Bank of China announced a new stimulus package ahead of the Golden Week holidays.

U.S. stocks were slightly lower, with the Dow Jones index falling around 0.1% on Monday.
Shares of Prime Medicine, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRME#NASDAQ">PRME</a>) rose sharply during Monday's session after the company announced a strategic research collaboration and license agreement with Bristol Myers Squibb to develop reagents for the next generation of ex vivo T-cell therapies. Also, it announced that it is focusing its pipeline on a set of <a href="https://www.benzinga.com/quote/PRME/news">high value programs</a>. 
Prime Medicine shares jumped 39.6% to $4.8317 on Monday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Uxin Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UXIN#NASDAQ">UXIN</a>) gained 28% to $6.68.</li>
<li>UP Fintech Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TIGR#NASDAQ">TIGR</a>) gained 26% to $5.80.</li>
<li>Capricor Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAPR#NASDAQ">CAPR</a>) shares jumped 25% to $12.43.</li>
<li>LexinFintech Holdings Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LX#NASDAQ">LX</a>) rose 20% to $2.8750.</li>
<li>Futu Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FUTU#NASDAQ">FUTU</a>) gained 18% to $101.15.</li>
<li>iQIYI, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IQ#NASDAQ">IQ</a>) gained 14% to $3.2250.</li>
<li>NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) rose 13.8% to $7.42 after investors agreed to invest an aggregate of 3.3 billion yuan in its Nio China subsidiary while the company agreed to invest 10 billion yuan.</li>
<li>ZEEKR Intelligent Technology Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZK#NYSE">ZK</a>) gained 12.4% to $23.71. Shares of US-listed Chinese companies traded higher on continued strength amid stimulus efforts. September PMI data beat estimates but factory activity fell, which may raise stimulus hopes.</li>
<li>MINISO Group Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNSO#NASDAQ">MNSO</a>) climbed 9.5% to $18.76. Shares of US-listed Chinese companies traded higher on continued strength amid stimulus efforts. September PMI data beat estimates but factory activity fell, which may raise stimulus hopes.</li>
<li>RLX Technology Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RLX#NYSE">RLX</a>) gained 8.6% to $1.8250.</li>
<li>New Oriental Education &amp; Technology Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDU#NYSE">EDU</a>) gained 7.8% to $79.24.</li>
<li>Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) gained 7.4% to $27.69. Shares of US-listed Chinese companies traded higher on continued strength amid stimulus efforts. September PMI data beat estimates but factory activity fell, which may raise stimulus hopes.</li>
<li>Structure Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GPCR#NASDAQ">GPCR</a>) gained 6.5% to $44.45.</li>
<li>Weibo Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WB#NASDAQ">WB</a>) gained 6.2% to $10.52.</li>
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Shares of US-listed Chinese companies are trading higher on continued strength amid stimulus efforts. September PMI data beat estimates but factory activity fell, which may raise stimulus hopes.

Shares of US-listed Chinese companies are trading higher possibly amid continued strength following a report suggesting China will issue up to $284 billion of sovereign debt as part of a stimulus.

U.S. stocks were higher, with the Dow Jones index gaining around 250 points on Thursday.
Shares of Jabil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>) rose sharply in today's session after the company reported better-than-expected fourth-quarter financial results and approved a $1 billion share buyback.
Jabil reported fourth-quarter revenue of $6.96 billion, down by 17.7% year-on-year, beating the analyst consensus estimate of $6.59 billion. The print manufacturing company's adjusted EPS of $2.30 beat the analyst consensus estimate of $2.22.
Jabil shares jumped 11.2% to $126.18 on Thursday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>SBC Medical Group Holdings Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SBC#NYSE">SBC</a>) jumped 25.4% to $10.01.</li>
<li>Gaotu Techedu Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOTU#NYSE">GOTU</a>) shares jumped 25.4% to $3.65.</li>
<li>Adaptive Biotechnologies Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADPT#NASDAQ">ADPT</a>) gained 24.1% to $4.9650.</li>
<li>TAL Education Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAL#NYSE">TAL</a>) gained 21.7% to $10.13.</li>
<li>Ispire Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISPR#NASDAQ">ISPR</a>) surged 18.6% to $6.91 following FY24 financial results.</li>
<li>Studio City International Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSC#NYSE">MSC</a>) gained 17.8% to $7.43.</li>
<li>KE Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEKE#NYSE">BEKE</a>) surged 17.4% to $19.22. Shares of Chinese stocks traded higher following a report suggesting China will issue up to $284 billion of sovereign debt as part of a stimulus.</li>
<li>H World Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTHT#NASDAQ">HTHT</a>) gained 16.7% to $36.60. Shares of Chinese stocks traded higher following a report suggesting China will issue up to $284 billion of sovereign debt as part of a stimulus.</li>
<li>New Oriental Education &amp; Technology Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDU#NYSE">EDU</a>) gained 14.4% to $71.19.</li>
<li>Micron Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) gained 14.2% to $109.37 following strong quarterly results.</li>
<li>Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>) jumped 14.2% to $43.60.</li>
<li>The Estée Lauder Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>) gained 10% to $100.78.</li>
<li>Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) climbed 9.9% to $31.19 after the company announced it plans a $2.5 billion share repurchase program and issued its third-quarter RASM guidance. Also, the company announced it reduced headcount through controlled hiring and attrition and has contracts with all labor groups.</li>
<li>Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) gained 9.7% to $104.73 following a report suggesting China will issue up to $284 billion of sovereign debt as part of a stimulus.</li>
<li>Trip.com Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCOM#NASDAQ">TCOM</a>) rose 9.1% to $55.74.</li>
<li>Celanese Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CE#NYSE">CE</a>) gained 6.6% to $138.71.</li>
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Shares of Chinese stocks are trading higher following a report suggesting China will issue up to $284 billion of sovereign debt as part of a stimulus.

Shares of US-listed Chinese stocks are possibly trading higher ahead of expectations that the People's Bank of China will cut rates. Also, the sector may be experiencing strength after the Fed cut rates by 50 basis points.

<h4>Key Takeaways:</h4>
<ul>
<li>Before the restrictions, academic education contributed nearly 90% of Beststudy&rsquo;s revenue but the company&rsquo;s new extra-curricular courses now account for 40% of turnover</li>
<li>The company has also launched study tours to gain a foothold in a market valued at more than a hundred billion yuan</li>
</ul>
　
By Molly Wen
The latest earnings from&nbsp;China Beststudy Education Group&nbsp;(3978.HK) offer a lesson in using creative or critical thinking to find a way out of a crisis.
The company was badly hit by a clampdown on after-school tutoring three years ago, when the government acted to relieve study pressure on children. Beststudy was able to salvage its test-revision business from the cull, which targeted private tuition on subjects in the school curriculum, and then shifted towards offering enrichment programs and study tours to nurture non-academic talents.
Meanwhile, the policy environment recently became more supportive for education in general. In early August, China&rsquo;s government highlighted education services as a means of boosting consumption amid an uneven economic recovery, leading some investors to sense a possible loosening of the regulatory screws. Against this backdrop, the CSI SWS Education Index, which tracks training-related stocks, rose for nine days in a row.
Beststudy, a leading training enterprise in the south of China, benefited from the education rally. The company&rsquo;s share price has risen nearly 70% since the start of the year and investors got more positive news last week when Beststudy&rsquo;s revised business strategy helped to drive a jump in&nbsp;<a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0808/2024080801034.pdf">half-year earnings</a>.
Revenue for the first six months of the year rose 68% to 317 million yuan ($44.30 million) from the same period a year earlier, while adjusted net profit surged nearly 169% to 54.41 million yuan. Turnover was still a far cry from the 1.1 billion yuan logged in the first half of 2021, but the profit leap serves to validate the decision to focus on holistic education, sidestepping the official school syllabus.
Before the clampdown in July 2021, Beststudy specialized in providing academic tutoring for individuals or small classes, segments that contributed nearly 90% of its revenue. The regulations wiped out the tutoring business, but Beststudy was still able to offer intensive pre-test coaching for students who were preparing to retake entrance exams for high school or college. The company also launched a range of vocational training courses as well as enrichment programs for school students, covering skills such as critical thinking, computer programming, literature appreciation and outdoors learning.
Income from full-time test preparation services jumped nearly 20% to 124 million yuan in the first half of the year. The company started out in 2000 by coaching high school students for college entrance exams. Five years later it added similar services for children preparing to take entrance tests for high schools. The pre-test business, which survived the government clampdown, offered the company a lifeline while it restructured its business.
<h4>Exploring other talents</h4>
Faced with the regulatory crisis, other training enterprises shifted to e-commerce and sales of educational hardware. But Beststudy saw a future in promoting learning outside the confines of the school syllabus, with programs labelled as talent education. The talent-based programs were designed to promote skills in areas such as critical thinking, nature study and scientific enquiry with courses including &ldquo;Curious Young Reporter&rdquo;, &ldquo;Thinking Planet&rdquo; and &ldquo;Literature and Aesthetic Education&rdquo;.
These courses were among the first batch of talent products to gain non-academic accreditation from education authorities in Guangdong Province in 2022. In the first half of 2024, Beststudy&rsquo;s revenue from the talent segment rocketed 321% to 118 million yuan, and the share of total revenue increased from nearly 15% in the first half of 2023 to just under 37%.
The company has also launched study tours to widen horizons and facilitate learning outside the classroom.&nbsp; China&rsquo;s market for study trips has flourished in recent years, reaching about 146.9 billion yuan in 2023, a year-on-year rise of nearly 62%, according to data from iiMedia Research. The research firm projects the market for educational travel will reach 242.2 billion yuan in 2026.
Players such as Beijing New Oriental Culture and Tourism, an arm of leading education firm&nbsp;New Oriental&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/edu#NYSE">EDU</a>), and various travel agencies have also stepped into the market. Study tours typically include lessons from professional teachers and instructors, giving a familiar brand such as Beststudy an advantage when attracting learners.
Keen to boost economic growth, China issued guidelines on Aug. 3 highlighting areas with the potential for higher consumption, including education and training. The directive said education institutions, scientific research bodies and social organizations should be encouraged to make high-quality educational resources available to a wider public. Market-watchers initially saw the move as a signal of easing restrictions on tutoring services. But the policy actually aims to improve the quality and impact of vocational education, while encouraging qualified institutions to provide tutoring on non-academic subjects as a public service, with no fundamental changes to compulsory education.
In any case, the education sector is repairing the damage from the last few turbulent years, judging from operating profits and revenues in recent earnings reports. U.S.-listed&nbsp;TAL Education&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tal#NYSE">TAL</a>) recently returned to profit and reported revenues jumped 50% to $414 million for its first quarter to May 31.
Beststudy&rsquo;s price-to-earnings (P/E) ratio stands at around 17 times, well below the 36 times for New Oriental on the Hong Kong market. At these levels the stock may be worth the attention of investors, as education-related demand is still going strong, outpacing overall consumption.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

Asia

Beststudy Scores Profits By Thinking Outside The Box

New Oriental Education &amp; Technology Group Inc. ("New Oriental" or the "Company") (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDU#NYSE">EDU</a>), a provider of private educational services in China, today announced that its board of directors has approved a special cash dividend of US$0.06 per common share, or US$0.6 per ADS, to holders of common shares and ADSs of record as of the close of business on September 9, 2024, Beijing/Hong Kong Time and New York Time, respectively, payable in U.S. dollars. The aggregate amount of the cash dividend to be paid will be approximately US$100 million.&nbsp;

Dividends

New Oriental Board Approved A Special Cash Dividend Of $0.6/ADS

Shares of US-listed Chinese stocks are trading lower ahead of upcoming economic data.

<h4>Key Takeaways:</h4>
<ul>
<li>YXT.com has filed for a New York IPO, aiming to sell investors on its position as China&rsquo;s largest digital corporate learning company</li>
<li>YXT is trying to sell investors on its big growth potential, even as its revenue contracted in this year&rsquo;s first quarter</li>
</ul>
By Edith Terry
When corporate learning software as a service (SaaS) company&nbsp;YXT.com Group Holding Ltd.&nbsp;<a href="https://www.sec.gov/Archives/edgar/data/1872090/000119312524191095/d196858df1a.htm">filed to list</a>&nbsp;on the Nasdaq last week, the reaction was hardly one of excitement. One analyst said to &ldquo;avoid it,&rdquo; noting the company&rsquo;s declining revenues and history of losses.
But the muted response hasn&rsquo;t stopped YXT.com from moving ahead with what could be one of the larger IPOs by a Chinese company in New York this year. YXT.com plans to sell 2.75 million American Depositary Shares (ADS) for between $11 and $13 apiece, raising up to $36 million. A pricing at the middle of that range would give the company a market cap of about $650 million.
Despite its commanding position as China&rsquo;s largest digital corporate learning SaaS provider, YXT.com&rsquo;s financials have been relatively weak in the last two years. Its revenue fell slightly from 431 million yuan ($69 million) in 2022 to 424 million yuan last year &ndash; never a great sign for any company in a growth industry.
What&rsquo;s worse, the revenue declines accelerated in this year&rsquo;s first quarter, skidding 33% to 83.2 million from 122.2 million yuan a year earlier. Gross profit for the latest three-month period fell as well, from 77.6 million yuan in 2023 to 52 million yuan in 2024.
Those contractions aren&rsquo;t too surprising, since many corporations have begun reining in their spending as China&rsquo;s economy slows after years of rapid growth. Still, the accelerating rate of contraction this year will hardly reassure potential investors.
One brighter spot was YXT.com&rsquo;s bottom line profit, which turned positive in the first quarter of 2024, to 35 million yuan from a loss of 65.2 million yuan a year earlier. But even there, that profit was only possible due to a one-time gain, and the company continued to lose money on an operating basis. Its losses in general are narrowing, falling from 1 billion yuan in 2022 to 230 million yuan last year.
YXT.com said some of its red ink owes to an ongoing legal battle involving a publisher affiliated with the highly regarded Shanghai-based China Europe International Business School (CEIBS). CEIBS Publishing was established in 2007, in an agreement between the school and venture capitalist and CEIBS board member Eric X. Li, to publish business case studies and other materials generated by CEIBS.
In 2018 and 2019, CEIBS became unhappy with the arrangement, and in 2019 Li and other shareholders sold their 39% of the company to the holding company previously behind YXT.com, called Unicentury. YXT.com later absorbed the publishing company into its subscription-based corporate business. But when CEIBS found out about that, it issued a complaint and the case went into arbitration in Hong Kong.
While the arbitration is still ongoing, YXT.com removed CEIBS Publishing&rsquo;s finances from its own income statement as of last January. In the first three months of 2024, that resulted in 20.6 million yuan in lost revenue. If that figure was added back to YXT.com&rsquo;s first-quarter results this year, its revenue would have declined by a milder &ndash; but still not encouraging &ndash; 15% to 103.8 million yuan this year from 122.2 million yuan in 2023.
<h3>Customer Hit</h3>
The CEIBS dispute has also affected YXT.com&rsquo;s customer list. At the end of last year the company had 3,501 customers, including 200 Fortune 500 companies in China, in 20 industries, including consumer, healthcare, manufacturing, technology and electric vehicles. But the number had dropped to 2,545 customers by the end of March, after the elimination of 845 customers from CEIBS Publishing Group.
While the CEIBS dispute doesn&rsquo;t look encouraging, YXT.com &ndash; whose name means &ldquo;cloud learning palace&rdquo; &ndash; does have a more stable story to tell with its core subscription services for corporate learning. Most of its revenue comes from such subscriptions, and revenues from that segment grew from 81.4% of the total in the first three months of 2023 to 92.5% in the first quarter of 2024. Still, that part of the business is also contracting.
The company is also a leader in its space, with five times the number of subscribers of its nearest competitors. That could position it well for growth in a Chinese corporate learning market where digital services accounted for just 19.6% of the overall market last year.
The digital services share of the corporate learning market is expected to grow to 23.3% of the total by 2028, worth about 300 billion yuan out of 1.2 trillion yuan for broader market. YXT.com is also turning its focus away from smaller customers to focus on more profitable large enterprises.
Meanwhile, the company&rsquo;s cash is starting to run low, which may explain the timing of its IPO. It had just 219 million yuan in cash at the end of March 2024, down by about a third from 320 million yuan at the end of last year and 432 million at the end of 2022.
The company boasts an A-list of backers, including Tencent and Sequoia Capital, and raised $190 million in a funding round in 2021. That valued YXT.com at $1 billion at the time, meaning it has lost roughly a third of its value since then.
Anyone who follows China&rsquo;s edtech sector will recall that investors got badly burned after a massive crackdown in 2021, when the government banned most after-school tutoring services from K-12 educators. The resulting bloodbath wiped billions of dollars off the market value of companies like&nbsp;New Oriental Education&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/edu#NYSE">EDU</a>) and&nbsp;TAL Education&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tal#NYSE">TAL</a>).
Some companies went on to reinvent themselves in completely different sectors, while others moved into areas like study abroad preparation and early education that weren&rsquo;t affected. Providers of education for adults, including vocational education and the kinds of services offered by YXT.com, were never affected, though private education in general remains a sensitive sector in China.
A potential peer comparison for YXT.com could be San Francisco-based online corporate training company&nbsp;Udemy&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/udmy#NASDAQ">UDMY</a>), which entered the China market in August 2022 with local partner Sanjieke, an online education platform targeting IT professionals. Udemy is aiming for 2,000 customers by 2025 &ndash; still far lower than YXT.com&rsquo;s portfolio.
Udemy currently trades at a price-to-sales (P/S) ratio of 1.42. That compares with a far higher ratio of nearly 11 that YXT.com would be seeking if its shares price in the middle of their range. That suggests YXT.com it believes investors will buy into its growth story even as China&rsquo;s economy runs into headwinds.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

Small Cap

General

UDMY

Don't Write Off China Edtech Just Yet, Says IPO-Bound YXT.com

U.S. stocks were higher, with the Dow Jones index gaining over 300 points on Tuesday.
Shares of Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>) rose sharply during Tuesday's session after the company reported better-than-expected second-quarter earnings and <a href="https://www.benzinga.com/news/earnings/24/08/40181443/restaurant-company-yum-china-posts-mixed-q2-results-announces-cfo-change">announced a CFO transition.</a>
Core operating profit grew 12% Y/Y to $275 million, with a margin of 10.0% vs. 9.3% a year ago quarter. EPS of 55 cents surpassed the street view of 47 cents.
Yum China shares surged 11.6% to $33.26 on Tuesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Lumen Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUMN#NYSE">LUMN</a>) shares surged 90% to $4.92 after the company announced it secured $5 billion in new business from companies seeking to secure their fiber capacity.</li>
<li>Clear Secure, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YOU#NYSE">YOU</a>) gained 26.4% to $24.61 after the company reported better-than-expected second-quarter financial results and issued third-quarter revenue guidance above estimates.</li>
<li>Serve Robotics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SERV#NASDAQ">SERV</a>) climbed 24.9% to $17.01 after falling around 7% on Monday.</li>
<li>TG Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TGTX#NASDAQ">TGTX</a>) gained 21.2% to $20.85  after the company reported better-than-expected quarterly financial results and raised its FY24 Briumvi U.S. net product revenue. The company entered into a term loan facility with Blue Owl Capital.</li>
<li>Castle Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSTL#NASDAQ">CSTL</a>) rose 17.8% to $25.76 after the company reported better-than-expected second-quarter financial results and increased its FY24 revenue guidance above estimates.</li>
<li>Bioventus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BVS#NASDAQ">BVS</a>) jumped 18.5% to $7.42 after the company reported better-than-expected second-quarter financial results and raised its FY24 guidance above estimates.</li>
<li>Vimeo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VMEO#NASDAQ">VMEO</a>) gained 17.2% to $4.18 after the company reported better-than-expected quarterly financial results and raised its FY24 revenue guidance.</li>
<li>Cabot Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBT#NYSE">CBT</a>) rose 15.2% to $100.21 following upbeat quarterly results.</li>
<li>Kenvue Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KVUE#NYSE">KVUE</a>) climbed 13.7% to $20.69 after the company reported better-than-expected quarterly financial results.</li>
<li>Vornado Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>) gained 13.2% to $30.85 following better-than-expected quarterly earnings.</li>
<li>New Oriental Education &amp; Technology Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDU#NYSE">EDU</a>) gained 11.6% to $72.87  after the company upsized its share repurchase program.</li>
<li>BellRing Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRBR#NYSE">BRBR</a>) gained 11.2% to $54.85 following upbeat quarterly earnings.</li>
<li>TransMedics Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMDX#NASDAQ">TMDX</a>) gained 9.3% to $162.20.</li>
<li>BioMarin Pharmaceutical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMRN#NASDAQ">BMRN</a>) rose 9.3% to $87.99 after the company reported better-than-expected quarterly financial results. Also, Evercore ISI Group maintained an Outperform rating on the stock and raised its price target from $113 to $115.</li>
<li>Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>) rose 9.1% to $152.55. The company announced that it entered into exchange agreements with a limited number of noteholders of its 6% Convertible Senior Notes due 2025</li>
<li>Materion Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTRN#NYSE">MTRN</a>) gained 9% to $112.74 following strong quarterly earnings.</li>
<li>Planet Fitness, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>) rose 9% to $78.53 after the company reported better-than-expected second-quarter financial results and reiterated 2024 outlook.</li>
<li>Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>) rose 6.7% to $54.58  after the company reported better-than-expected quarterly financial results.</li>
<li>Apollo Global Management, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) gained 5.9% to $105.02 after B of A Securities upgraded the stock from Neutral to Buy.</li>
</ul>
Now Read This:<a href="https://www.benzinga.com/news/24/08/40188563/this-crowdstrike-analyst-turns-bullish-here-are-top-5-upgrades-for-tuesday"> </a>
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40188563/this-crowdstrike-analyst-turns-bullish-here-are-top-5-upgrades-for-tuesday">This CrowdStrike Analyst Turns Bullish; Here Are Top 5 Upgrades For Tuesday</a></li>
</ul>

BMRN

BRBR

CSTL

KVUE

LUMN

MTRN

PLNT

SERV

TGTX

TMDX

VMEO

Yum China Posts Upbeat Earnings, Joins Clear Secure, TG Therapeutics, Bioventus And Other Big Stocks Moving Higher On Tuesday

New Oriental Education shares are trading higher after the company upsized its share repurchase program.

New Oriental Education &amp; Technology Group Inc. (&quot;New Oriental&quot; or the &quot;Company&quot;) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDU#NYSE">EDU</a>), a provider of private educational services in&nbsp;China, today announced that its board of directors has approved the upsizing of its share repurchase program. As previously disclosed, the Company launched a share repurchase program (the &quot;Share Repurchase Program&quot;) whereby the Company was authorized to repurchase up to&nbsp;US$400 million&nbsp;of the Company&#39;s ADSs and/or common shares during the period from&nbsp;July 28, 2022&nbsp;through&nbsp;May 31, 2023. The Share Repurchase Program was extended by two years through&nbsp;May 31, 2025. &nbsp;As of the date of this press release, the Company had repurchased approximately&nbsp;US$330.3 million&nbsp;worth of its ADSs under the Share Repurchase Program.
The Company&#39;s board of directors has approved an adjustment to the Share Repurchase Program, pursuant to which the aggregate value of shares that the Company is authorized to repurchase under the Share Repurchase Program is increased from&nbsp;US$400 million&nbsp;to&nbsp;US$700 million. The upsized Share Repurchase Program is effective through&nbsp;May 31, 2025.

Buybacks

New Oriental Education Upsizes Share Repurchase Program By $300M to $700 Million, Extends By 2 Years Through 2025

U.S. stocks were lower, with the Dow Jones index falling over 900 points on Monday.
Shares of Sotera Health Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHC#NASDAQ">SHC</a>) rose sharply during Monday's session after the company reported better-than-expected <a href="https://www.benzinga.com/quote/SHC/earnings">quarterly financial results.</a>
Sotera Health shares jumped 10.2% to $14.57 on Monday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Kellanova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/K#NYSE">K</a>) shares surged 12.6% to $71.01 in pre-market trading following a report suggesting Mars is considering an acquisition of the company.</li>
<li>Ispire Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISPR#NASDAQ">ISPR</a>) gained 11.1% to $7.50.</li>
<li>New Oriental Education &amp; Technology Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDU#NYSE">EDU</a>) climbed 6.9% to $64.07.</li>
<li>Sonic Automotive, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAH#NYSE">SAH</a>) gained 6.6% to $59.58 following better-than-expected earnings.</li>
<li>ZTO Express (Cayman) Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTO#NYSE">ZTO</a>) rose 6.4% to $19.53. ZTO Express (Cayman) will release its unaudited financial results for the second quarter, after the closing bell on Aug. 20.</li>
<li>Gaotu Techedu Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOTU#NASDAQ">GOTU</a>) jumped 6.1% to $4.2450. Citigroup analyst Mark Li maintained Gaotu Techedu with a Buy and lowered the price target from $12.34 to $5.81.</li>
<li>Twist Bioscience Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWST#NASDAQ">TWST</a>) gained 5.2% to $45.20. Twist Bioscience and bitBiome reported a strategic collaboration and first offering to deliver one-of-a-kind enzymes for biocatalysis.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40161976/home-depot-to-rally-more-than-14-here-are-10-top-analyst-forecasts-for-monday">Home Depot To Rally More Than 14%? Here Are 10 Top Analyst Forecasts For Monday</a></li>
</ul>

TWST

Sotera Health Posts Upbeat Results, Joins Thoughtworks, Sonic Automotive And Other Big Stocks Moving Higher On Monday

New Oriental Education & Technology Group Inc. (EDU) Q4 2024 Earnings Call Transcript

New Oriental Education Tech (EDU – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Saiyi HE ...

Buy Rating Justified by New Oriental Education's Strong Financial Performance and Growth Prospects

New Oriental Education & Technology jumps 5% on upsizing buyback program

New Oriental Education & Technology declares $0.06 special dividend

New Oriental Education: Capital Return Improvement And Margin Expansion Are Potential Catalysts

These stocks are rallying after China announced stimulus measures

Las Vegas Sands, JD.com and XPeng headline big rally in China-related stocks

David Tepper is uber bullish on China: It's a 'buy everything moment'

CGS-CIMB analyst Lei Yang CFA reiterated a Buy rating on New Oriental Education & Technology Group, Inc. (N1U0 – Research Report) on September 25 a...

Buy Rating Affirmed for New Oriental Education & Technology Group Amid Robust Growth and Margin Expansion

Here is how many Chinese ADRs are performing from the past week

AACAF

AACAY

BYDDF

BYDDY

FOSL

GOOS

LKNCY

MCHI

MLCO

MOMO

NWOEF

PSNY

THCH

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Press Releases

New Oriental to Report Third Quarter 2024 Financial Results on April 24, 2024

Earnings

New Oriental Announces Results for the Third Fiscal Quarter Ended February 29, 2024

New Oriental Extends Share Repurchase Program

New Oriental to Report Fourth Quarter 2024 Financial Results on July 31, 2024

New Oriental Announces Results for the Fourth Fiscal Quarter and the Fiscal Year Ended May 31, 2024

New Oriental Announces Upsizing of Share Repurchase Program

New Oriental Announces a Special Cash Dividend

New Oriental Announces Filing of Annual Report on Form 20-F for Fiscal Year 2024

New Oriental to Report First Quarter 2025 Financial Results on October 23, 2024

New Oriental to Hold Annual General Meeting on November 25, 2024

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