New Oriental Education's HK shares hit over 2-year peak after strong Q1

New Oriental Education & Technology

26/10/2023 08:52

** Hong Kong shares of New Oriental Education & Technology
Group  9901.HK  jump 9.4% to HK$52.50, highest since July 2021
    ** Stock marks the biggest one-day pct rise since Sept. 4;
biggest pct gainer in Hang Seng Composite Index  .HSCI  
    ** U.S.-listed shares  EDU.N  rose 2.9% on Wednesday  
    ** Beijing-based educational services provider says net
profit for first quarter ended in August jumped 150.6% YoY to
$165.4 mln with net revenues up 47.7% YoY to $1.1 bln, driven by
new educational business initiatives and livestreaming
e-commerce business among others
    ** Q2 net revenues seen in $785.0 mln-$804.2 mln range, up
23%-26% YoY - co   
    ** Hang Seng Composite Index  .HSCI  and Hang Seng Index
 .HSI  both slip 0.4%
    ** Hong Kong-listed stock up 79.3% YTD 

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))