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2026-04-22
18:00
Newborn Town Releases First Operating Update Since Stock Connect Inclusion, Reporting 33.0%-39.6% YoY Revenue Growth

HONG KONG, April 22, 2026 /PRNewswire/ -- Newborn Town, a leading global social entertainment company, released its unaudited operating data for the first quarter of 2026.

For the three months ended 31 March 2026, the company's total revenue is estimated to reach RMB 2,030 million to RMB 2,130 million, reflecting a year-on-year increase of approximately 33.0% to 39.6%. Revenue from social networking business amounted to approximately RMB 1,785 million to RMB 1,865 million, representing a year-on-year increase of approximately 31.3% to 37.2%.

Revenue from innovative business recorded approximately RMB 245 million to RMB 265 million, representing a year-on-year growth of approximately 46.7% to 58.7%, maintaining strong growth momentum.


Social Networking Business Deepened Its Competitive Moat as Flagship Products Continue to Strengthen Market Leadership

According to the announcement, the steady growth of social networking business revenue was driven by the company's continued global expansion and the deep integration of AI across the entire business chain, supporting the sustained growth of its flagship products.

In the first quarter of 2026, the company continued to advance its successful strategy of replicating its product operations and market expansion experiences, further strengthening its leadership in core markets such as the MENA region and Southeast Asia, while using flagship products as strategic pioneers to accelerate expansion into high-growth and high-value markets including Latin America, Europe, Japan, and South Korea, further enhancing its global social entertainment footprint.

In 2026, the Company's flagship products continued to deliver strong performance. The game-oriented social platform TopTop further improved its market position across GCC countries. According to data from Sensor Tower, in Q1, TopTop ranked 6th in the social apps category on the App Store's revenue rankings for the Middle East.

In new markets, TopTop continued to expand its footprint. TopTop made solid progress in high-value markets such as Japan and Europe, ranking among the Top 10 free casual games on the Japanese App Store multiple times during the first quarter.

Meanwhile, TopTop continues to leverage its UGC-driven ecosystem to expand into developed markets. It has grown into a widely adopted app in GCC markets such as Saudi Arabia and ranks among the leading products in its category globally.

The company's diverse-audience social networking business also maintained steady growth. HeeSay, the company's global community platform for diverse audiences, further strengthened its presence in Southeast Asia, consistently ranking among the Top 10 grossing social apps on the App Store in countries such as Vietnam and the Philippines.

A research report by Huaxi Securities noted that social networking and gaming apps continue to outperform across downloads, user engagement, and monetization. With its expanding global footprint, Newborn Town is well positioned to continue benefiting from these long-term industry trends, further reinforcing the certainty of its long-term growth trajectory.

Innovative Business Gained Strong Momentum, with AI Driving Rapid Revenue Growth

The company's innovative business also demonstrated strong growth momentum in the first quarter of 2026. According to the announcement, the growth in revenue from the innovative business segment was driven by the rapid expansion of the short drama business, supported by AI-powered content production and operations.

During the period, the company's short drama business progressed steadily across multiple overseas markets including Europe and North America, validating its full-chain capabilities in content creation and blockbuster content incubation.

Building on this foundation, Newborn Town is actively expanding into AI short dramas, leveraging AI technology to amplify content production, diversify genres, and optimize production costs, positioning short drama as a new growth engine for the innovative business.

Recently, the Company's short-form drama business was officially integrated with Seedance 2.0, becoming one of its first partner platforms. At the same time, through joint operations with platforms such as TikTok, the global reach of its short-form content has continued to expand. According to TikTok's first-quarter revenue-sharing report for short dramas, one of the Company's hit titles ranked No. 2 on the platform by first-month revenue.

In recent years, the company has continued to deepen the application of AI technologies across core business scenarios, comprehensively empowering R&D, operations, and commercialization efficiency. Its self-developed multimodal algorithm model, Boomiix, continues to upgrade, improving the accuracy of social matching and the intelligence of operations.

The company's Siyu AI, an internal data intelligence platform, significantly shortened turnaround times for data queries, anomaly analysis, and report generation. Its proprietary AI-powered design platform KIVI has also greatly enhanced both the efficiency and diversity of content production, including virtual gifts and marketing creatives.

In addition, the company continued to expand into consumer-facing AI applications by launching Aippy, exploring new ways to create emotional value through AI. To date, Aippy has surpassed 2 million cumulative downloads. Beyond this, the Company has launched NUSD Pay, an AI agent-based payment solution, which has completed core system development and entered the commercialization stage.

The company announced to allocate approximately HK$ 300 million over the next two years for share repurchases, which may be used for the company's employee equity incentive plans or cancellation in accordance with applicable laws, regulations, and listing rules. The Board believes that implementing share repurchases under the current circumstances reflects confidence in the company's long-term business outlook and will ultimately benefit the company while creating value for shareholders.

On 6 March, Newborn Town was officially included in the list of eligible securities under the Stock Connect, broadening access for mainland investors. Since its inclusion, the company has seen significantly stronger market attention and trading activity. As of April 21, its average daily trading value exceeded HKD 180 million, approximately doubling compared to the three months prior to inclusion.

Following its inclusion in Stock Connect, the Company's shareholder base has continued to diversify, while its market presence has further strengthened, providing solid support for its long-term growth.

Information Provided by PR Newswire [Disclaimer]
17:00
New Oriental Announces Results for the Third Fiscal Quarter Ended February 28, 2026

BEIJING, April 22, 2026 /PRNewswire/ -- New Oriental Education & Technology Group Inc. (the "Company" or "New Oriental") (NYSE: EDU/ 9901.SEHK), a provider of private educational services in China, today announced its unaudited financial results for the third fiscal quarter ended February 28, 2026, which is the third quarter of New Oriental's fiscal year 2026.

Financial Highlights for the Third Fiscal Quarter Ended February 28, 2026

  • Total net revenues increased by 19.8% year over year to US$1,417.3 million for the third fiscal quarter of 2026. 
  • Operating income increased by 44.8% year over year to US$180.3 million for the third fiscal quarter of 2026.
  • Net income attributable to New Oriental increased by 45.3% year over year to US$126.8 million for the third fiscal quarter of 2026.

Key Financial Results

(in thousands US$, except per ADS(1) data)

3Q FY2026

3Q FY2025

% of 
change

Net revenues

1,417,341

1,183,055

19.8 %

Operating income

180,320

124,519

44.8 %

Non-GAAP operating income (2)(3)

202,885

142,056

42.8 %

Net income attributable to New Oriental

126,815

87,255

45.3 %

Non-GAAP net income attributable to New Oriental (2)(3)

152,183

113,344

34.3 %

Net income per ADS attributable to New Oriental - basic

0.80

0.54

48.7 %

Net income per ADS attributable to New Oriental - diluted

0.79

0.54

47.7 %

Non-GAAP net income per ADS attributable to New Oriental - basic (2)(3)(4)

0.97

0.70

37.4 %

Non-GAAP net income per ADS attributable to New Oriental - diluted (2)(3)(4)

0.95

0.70

36.5 %





(in thousands US$, except per ADS(1) data)

9M FY2026

9M FY2025

% of
change

Net revenues

4,131,762

3,657,107

13.0 %

Operating income

557,454

436,924

27.6 %

Non-GAAP operating income (2)(3)

627,558

472,550

32.8 %

Net income attributable to New Oriental

412,990

364,616

13.3 %

Non-GAAP net income attributable to New Oriental (2)(3)

483,346

418,988

15.4 %

Net income per ADS attributable to New Oriental - basic

2.61

2.24

16.5 %

Net income per ADS attributable to New Oriental - diluted

2.58

2.22

16.0 %

Non-GAAP net income per ADS attributable to New Oriental - basic (2)(3)(4)

3.05

2.57

18.7 %

Non-GAAP net income per ADS attributable to New Oriental - diluted (2)(3)(4)

3.02

2.55

18.2 %

 

(1) Each ADS represents ten common shares. The Hong Kong-listed shares are fully fungible with the ADSs listed on NYSE.

(2) GAAP represents Generally Accepted Accounting Principles in the United States of America.

(3) New Oriental provides non-GAAP financial measures on net income attributable to New Oriental, operating income and net income per ADS attributable to New Oriental that exclude share-based compensation expenses, amortization of intangible assets resulting from business acquisitions, (gain) /loss from fair value change of investments, loss from equity method investments, impairment of long-term investments, impairment of goodwill, gain on disposals of investments and others, as well as tax effects on non-GAAP adjustments. For further details on these adjustments, please refer to the section titled "About Non-GAAP Financial Measures" and the tables captioned "Reconciliations of Non-GAAP Measures to the Most Comparable GAAP Measures" set forth at the end of this release.

(4) The Non-GAAP net income per ADS attributable to New Oriental is computed using Non-GAAP net income attributable to New Oriental and the same number of shares and ADSs used in GAAP basic and diluted EPS calculation.

Operating Highlights for the Third Fiscal Quarter Ended February 28, 2026

Michael Yu, New Oriental's Executive Chairman, commented, "We are pleased to share of continued acceleration in our revenue growth year over year in the third fiscal quarter of 2026. Revenues from overseas test preparation increased by approximately 7.4%. In addition, our domestic test preparation business targeting adults and university students grew by approximately 14.5% year over year, followed by a growth of 23.3% year over year for our new educational business initiatives. Our non-academic tutoring courses was rolled out in around 60 cities, attracting approximately 458,000 student enrollments this quarter. Concurrently, our intelligent learning system and devices were adopted in around 60 cities, with approximately 367,000 active paid users. We are sharpening our focus on our core education business, prioritizing enhancements of teaching standards and product quality. Simultaneously, we will optimize our cost structure and operational efficiency to drive high-quality, efficient, and sustainable growth. We have also established a comprehensive customer service system spanning all departments, which now serves over 330,000 families in 12 cities. This infrastructure strengthens customer loyalty and retention, unlocks cross-selling potential, maximizes customer lifetime value all while lowering both customer acquisition and marketing costs. We remain committed to enhancing our brand influence and creating long-term value for our customers and shareholders."

Chenggang Zhou, New Oriental's Chief Executive Officer, added, "In this fiscal quarter, we continued to execute our strategy of disciplined capacity expansion, balancing revenue growth with operational efficiency. As part of our ongoing commitment, we further enhanced our OMO teaching system and deepened AI integration across our education ecosystem. This quarter, we made notable progress in embedding AI into existing educational offerings, refining AI‑powered products, and deploying AI to improve operational efficiency and support for our teaching staff. In addition, East Buy remains committed to offering premium products and exceptional services to Chinese families. We launched multiple live-streaming accounts on Douyin, creating a comprehensive multi-account matrix including East Buy Home, East Buy Fruit & Vegetables, East Buy Nutrition & Health, followed by other vertical channels. We also optimized live-streaming content and introduced innovative initiatives such as live streamer recruitment campaign and supplier conferences. East Buy will continue advancing private label development, membership ecosystem, offline expansion, and operational efficiency to drive sustainable long-term growth."

Stephen Zhihui Yang, New Oriental's Executive President and Chief Financial Officer, commented, "We are encouraged by the continued year over year improvement in our Non-GAAP operating margin in this quarter. This was primarily driven by enhanced operational efficiency and improved utilization within our educational business. We recorded a quarterly Non-GAAP operating margin of 14.3%, up by 230 basis points compared to the same period last fiscal year. Looking ahead, we remain committed to executing the cost and efficiency initiatives already underway across key business lines. Targeted structural optimizations have enabled fixed cost reduction and driven greater operational efficiency, steadily elevating our operating profit margins and strengthening our foundation for sustainable, profitable growth."

Update on Shareholder Return for the Fiscal Year 2026

In October 2025, the Company announced that, pursuant to its previously adopted three-year shareholder return plan, the board of directors had approved an ordinary dividend of US$0.12 per common share, or US$1.20 per ADS, to be distributed in two installments as part of the shareholder return for the fiscal year 2026. The first installment has been fully paid to shareholders and ADS holders. The board has now approved the payment of the second installment of US$0.06 per common share, or US$0.6 per ADS, to holders of common shares and holders of ADSs of record as of the close of business on May 15, 2026, Beijing/Hong Kong Time and New York Time, respectively, with the expected payment date to be on or around June 2, 2026 and June 5, 2026 for holders of common shares and holders of ADSs, respectively.

For holders of common shares, in order to qualify for the second installment of the dividend, all valid documents for the transfer of shares accompanied by the relevant share certificates must be lodged for registration with the Company's Hong Kong branch share registrar, Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong no later than 4:30 p.m. on May 15, 2026 (Beijing/Hong Kong Time). Dividend to be paid to the Company's ADS holders through the depositary bank will be subject to the terms of the deposit agreement.

Additionally, as part of the shareholder return for the fiscal year 2026, the Company also announced in October 2025 a share repurchase program, under which the Company is authorized to repurchase up to US$300 million of its ADSs or common shares over the subsequent 12 months. As of April 21, 2026, the Company had repurchased a total of approximately 3.3 million ADSs for an aggregate consideration of approximately US$184.3 million from the open market under this share repurchase program.

Financial Results for the Third Fiscal Quarter Ended February 28, 2026

Net Revenues

For the third fiscal quarter of 2026, New Oriental reported net revenues of US$1,417.3 million, representing a 19.8% increase year over year. The growth was mainly driven by the increase in net revenues from the Company's new educational business initiatives.

Operating Costs and Expenses

Operating costs and expenses for the quarter were US$1,237.0 million, representing a 16.9% increase year over year.

  • Cost of revenues increased by 23.4% year over year to US$656.2 million.
  • Selling and marketing expenses increased by 9.1% year over year to US$198.8 million.
  • General and administrative expenses for the quarter increased by 10.8% year over year to US$382.1 million.

Total share-based compensation expenses, which were allocated to related operating costs and expenses, increased by 30.9% to US$21.1 million in the third fiscal quarter of 2026.

Operating Income and Operating Margin

Operating income was US$180.3 million, representing a 44.8% increase year over year. Non-GAAP income from operations for the quarter, excluding share-based compensation expenses and amortization of intangible assets resulting from business acquisitions, was US$202.9 million, representing a 42.8% increase year over year.

Operating margin for the quarter was 12.7%, compared to 10.5% in the same period of the prior fiscal year. Non-GAAP operating margin, which excludes share-based compensation expenses and amortization of intangible assets resulting from business acquisitions, for the quarter was 14.3%, compared to 12.0% in the same period of the prior fiscal year.

Net Income and Net Income per ADS

Net income attributable to New Oriental for the quarter was US$126.8 million, representing a 45.3% increase year over year. Basic and diluted net income per ADS attributable to New Oriental were US$0.80 and US$0.79, respectively.

Non-GAAP Net Income and Non-GAAP Net Income per ADS

Non-GAAP net income attributable to New Oriental for the quarter, excluding share-based compensation expenses, amortization of intangible assets resulting from business acquisitions,  (gain)/loss from fair value change of investments, loss from equity method investments, gain on disposals of investments and others, as well as tax effects on non-GAAP adjustments, was US$152.2 million, representing a 34.3% increase year over year. Non-GAAP basic and diluted net income per ADS attributable to New Oriental were US$0.97 and US$0.95, respectively.

Cash Flow

Net operating cash outflow for the third fiscal quarter of 2026 was approximately US$7.5 million and capital expenditures for the quarter were US$68.8 million.

Balance Sheet

As of February 28, 2026, New Oriental had cash and cash equivalents of US$1,783.4 million. In addition, the Company had US$1,491.7 million in term deposits and US$1,953.2 million in short-term investments.

New Oriental's deferred revenue, which represents cash collected upfront from customers and related revenue that will be recognized as the services or goods are delivered, at the end of the third quarter of fiscal year 2026 was US$1,885.9 million, an increase of 7.8% as compared to US$1,749.9 million at the end of the third quarter of fiscal year 2025.

Financial Results for the Nine Months Ended February 28, 2026

For the first nine months of fiscal year 2026, New Oriental reported net revenues of US$4,131.8 million, representing a 13.0% increase year over year.

Operating income was US$557.5 million, representing a 27.6% increase year over year. Non-GAAP operating income, excluding share-based compensation expenses, amortization of intangible assets resulting from business acquisitions for the first nine months of fiscal year 2026 was US$627.6 million, representing a 32.8% increase year over year.

Operating margin for the first nine months of fiscal year 2026 was 13.5%, compared to 11.9% for the same period of the prior fiscal year. Non-GAAP operating margin, which excludes share-based compensation expenses and amortization of intangible assets resulting from business acquisitions, for the first nine months of fiscal year 2026, was 15.2%, compared to 12.9% for the same period of the prior fiscal year.

Net income attributable to New Oriental for the first nine months of fiscal year 2026 was US$413.0 million, representing a 13.3% increase year over year. Basic and diluted net income per ADS attributable to New Oriental for the first nine months of fiscal year 2026 amounted to US$2.61 and US$2.58, respectively.

Non-GAAP net income attributable to New Oriental, excluding share-based compensation expenses, amortization of intangible assets resulting from business acquisitions, (gain)/loss from fair value change of investments, loss from equity method investments, gain on disposals of investments and others, as well as tax effects on non-GAAP adjustments, for the first nine months of fiscal year 2026 was US$483.3 million, representing a 15.4% increase year over year. Non-GAAP basic and diluted net income per ADS attributable to New Oriental for the first nine months of fiscal year 2026 amounted to US$3.05 and US$3.02, respectively.

Outlook for the Fourth Quarter of the Fiscal Year 2026

New Oriental expects total net revenues in the fourth quarter of the fiscal year 2026 (March 1, 2026 to May 31, 2026) to be in the range of US$1,429.6 million to US$1,466.9 million, representing year over year increase in the range of 15% to 18%.  

Driven by encouraging growth across various business lines, New Oriental raises the full year guidance of total net revenues in the fiscal year 2026 (June 1, 2025 to May 31, 2026) to be in the range of US$5,561.4 million to US$5,598.7 million, representing a year over year increase in the range of 13% to 14%.

This forecast reflects New Oriental's current and preliminary view, which is subject to change. The forecast is based on the current USD/RMB exchange rate, which is also subject to change.

Conference Call Information

New Oriental's management will host an earnings conference call at 8 AM on April 22, 2026, U.S. Eastern Time (8 PM on April 22, 2026, Beijing/Hong Kong Time). 

Please register in advance of the conference, using the link provided below. Upon registering, you will be provided with participant dial-in numbers, and unique personal PIN.

Conference call registration link: 
https://register-conf.media-server.com/register/BI2d1b37f83b4645f08b73fdd17af502f3.

It will automatically direct you to the registration page of "New Oriental FY2026 Q3 Earnings Conference Call" where you may fill in your details for RSVP.

In the 10 minutes prior to the call start time, you may use the conference access information (including dial in number(s) and personal PIN) provided in the confirmation email received at the point of registering.

Joining the conference call via a live webcast:

Additionally, a live and archived webcast of the conference call will be available at http://investor.neworiental.org.

Listening to the conference call replay:

A replay of the conference call may be accessed via the webcast on-demand by registering at https://edge.media-server.com/mmc/p/7x5ve8hp first. The replay will be available until April 22, 2027.

About New Oriental

New Oriental is a provider of private educational services in China offering a wide range of educational programs, services and products to a varied student population throughout China. New Oriental's program, service and product offerings mainly consist of educational services and test preparation courses, private label products and livestreaming e-commerce, overseas study consulting services, and educational materials and distribution. New Oriental is listed on NYSE (NYSE: EDU) and SEHK (9901.SEHK), respectively. New Oriental's ADSs, each of which represents ten common shares, are listed and traded on the NYSE. The Hong Kong-listed shares are fully fungible with the ADSs listed on NYSE.

For more information about New Oriental, please visit http://www.neworiental.org/english/.

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, the outlook for the fourth quarter and full year of fiscal year 2026, quotations from management in this announcement, as well as New Oriental's strategic and operational plans, contain forward-looking statements. New Oriental may also make written or oral forward-looking statements in its reports filed 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 New Oriental'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 effectively and efficiently manage changes of its existing business and new business; its ability to execute its business strategies; uncertainties in relation to the interpretation and implementation of or proposed changes to, the PRC laws, regulations and policies regarding the private education industry; its ability to attract students without a significant increase in course fees; its ability to maintain and enhance its "New Oriental" brand; its ability to maintain consistent teaching quality throughout its school network, or service quality throughout its brand; its ability to achieve the benefits it expects from recent and future acquisitions; the outcome of ongoing, or any future, litigation or arbitration, including those relating to copyright and other intellectual property rights; competition in the private education sector and livestreaming e-commerce business in China; the continuing efforts of its senior management team and other key personnel, health epidemics and other outbreaks in China; and general economic conditions in China. Further information regarding these and other risks is included in its annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. New Oriental does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release and in the attachments is as of the date of this press release, and New Oriental undertakes no duty to update such information, except as required under applicable law.

About Non-GAAP Financial Measures

To supplement New Oriental's consolidated financial results presented in accordance with GAAP, New Oriental uses the following measures defined as non-GAAP financial measures by the SEC: net income excluding share-based compensation expenses, amortization of intangible assets resulting from business acquisitions, (gain)/loss from fair value change of investments, loss/(gain) from equity method investments, impairment of long-term investments and goodwill, gain on disposals of investments and others, as well as tax effects on non-GAAP adjustments; operating income excluding share-based compensation expenses, amortization of intangible assets resulting from business acquisitions, and impairment of goodwill; operating margin excluding share-based compensation expenses, amortization of intangible assets resulting from business acquisitions, and impairment of goodwill; and basic and diluted net income per ADS and per share excluding share-based compensation expenses, amortization of intangible assets resulting from business acquisitions, loss/(gain) from fair value change of investments, loss/(gain) from equity method investments, impairment of long-term investments and goodwill, gain on disposals of investments and others, as well as tax effects on non-GAAP adjustments. 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 tables captioned "Reconciliations of non-GAAP measures to the most comparable GAAP measures" set forth at the end of this release.

New Oriental believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding from each non-GAAP measure certain items that may not be indicative of its operating performance from a cash perspective. New Oriental believes that both management and investors benefit from referring to 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 New Oriental's historical performance and liquidity. New Oriental 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 these non-GAAP measures is that they exclude from each non-GAAP measure certain items that have been and will continue to be for the foreseeable future a significant recurring expense in its 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.

Contacts

For investor and media inquiries, please contact:




Ms. Rita Fong                                           
FTI Consulting                                          
Tel:        +852 3768 4548                             
Email:    [email protected]                  

Ms. Sisi Zhao
New Oriental Education & Technology Group Inc.
Tel:         +86-10-6260-5568
Email: [email protected]

 

NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)


As of February 28


As of May 31

2026


2025

(Unaudited)


(Audited)


USD


USD

ASSETS:




Current assets:




Cash and cash equivalents

1,783,403


1,612,379

Restricted cash, current

157,471


180,724

Term deposits, current

1,065,883


1,092,115

Short-term investments

1,953,163


1,873,502

Accounts receivable, net

35,716


33,629

Inventory, net

86,048


80,884

Prepaid expenses and other current assets, net

338,542


307,902

Amounts due from related parties, current

6,872


6,567

Total current assets

5,427,098


5,187,702





Restricted cash, non-current

95,923


24,030

Term deposits, non-current

425,857


355,665

Property and equipment, net

826,853


767,346

Land use rights, net

56,735


54,900

Amounts due from related parties, non-current

14,159


12,464

Long-term deposits

55,337


48,815

Intangible assets, net

9,168


13,020

Goodwill, net

45,952


43,832

Long-term investments, net

382,191


388,481

Deferred tax assets, net

85,603


97,932

Right-of-use assets

809,409


793,842

Other non-current assets

10,075


17,470

Total assets

8,244,360


7,805,499





LIABILITIES AND EQUITY




Current liabilities:




Accounts payable

108,509


80,484

Accrued expenses and other current liabilities

795,005


830,583

Income taxes payable

215,512


167,881

Amounts due to related parties

396


405

Deferred revenue

1,885,872


1,954,464

Operating lease liability, current

273,263


255,997

Total current liabilities

3,278,557


3,289,814





Deferred tax liabilities

14,148


14,174

Unsecured senior notes

-


14,403

Operating lease liabilities, non-current

533,707


533,376

Total long-term liabilities

547,855


561,953





Total liabilities

3,826,412


3,851,767





Equity




  New Oriental Education & Technology Group Inc. shareholders' equity

4,086,130


3,661,873

  Non-controlling interests

331,818


291,859

Total equity

4,417,948


3,953,732





Total liabilities and equity

8,244,360


7,805,499









NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands except for per share and per ADS amounts)





For the Three Months Ended February 28


2026


2025


(Unaudited)


(Unaudited)


USD


USD

Net revenues

1,417,341


1,183,055





Operating cost and expenses (note 1)




Cost of revenues

656,174


531,586

Selling and marketing

198,785


182,240

General and administrative

382,062


344,710

Total operating cost and expenses

1,237,021


1,058,536

Operating income

180,320


124,519

Gain/(Loss) from fair value change of investments

1,202


(212)

Other income, net

18,466


29,095

Provision for income taxes

(54,723)


(52,579)

Loss from equity method investments

(5,381)


(11,157)

Net income

139,884


89,666





Net income attributable to non-controlling interests

(13,069)


(2,411)

Net income attributable to New Oriental Education &
Technology Group Inc.'s shareholders

126,815


87,255









Net income per share attributable to New Oriental-Basic
(note 2)

0.08


0.05





Net income per share attributable to New Oriental-Diluted
(note 2)

0.08


0.05





Net income per ADS attributable to New Oriental-Basic
(note 2)

0.80


0.54





Net income per ADS attributable to New Oriental-Diluted
(note 2)

0.79


0.54













NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC.

RECONCILIATIONS OF NON-GAAP MEASURES TO THE MOST COMPARABLE GAAP MEASURES

(In thousands except for per share and per ADS amounts)




For the Three Months Ended February 28


2026


2025


(Unaudited)


(Unaudited)


USD


USD





Operating income

180,320


124,519

Share-based compensation expenses

21,092


16,119

Amortization of intangible assets resulting from
business acquisitions

1,473


1,418

Non-GAAP operating income

202,885


142,056





Operating margin

12.7 %


10.5 %

Non-GAAP operating margin

14.3 %


12.0 %





Net income attributable to New Oriental

126,815


87,255

Share-based compensation expenses

20,223


14,151

(Gain)/Loss from fair value change of investments

(1,202)


212

Amortization of intangible assets resulting from
business acquisitions

913


882

Loss from equity method investments

5,381


11,157

Gain on disposals of investments and others

(36)


(161)

Tax effects on Non-GAAP adjustments

89


(152)

Non-GAAP net income attributable to New Oriental

152,183


113,344





Net income per ADS attributable to New Oriental-
Basic (note 2)

0.80


0.54

Net income per ADS attributable to New Oriental-
Diluted (note 2)

0.79


0.54





Non-GAAP net income per ADS attributable to New
Oriental - Basic (note 2)

0.97


0.70

Non-GAAP net income per ADS attributable to New
Oriental - Diluted (note 2)

0.95


0.70





Weighted average shares used in calculating basic
net income per ADS (note 2)

1,576,580,766


1,612,894,657

Weighted average shares used in calculating
diluted net income per ADS (note 2)

1,596,357,200


1,624,843,387





Net income per share - basic

0.08


0.05

Net income per share - diluted

0.08


0.05





Non-GAAP net income per share - basic

0.10


0.07

Non-GAAP net income per share - diluted

0.10


0.07









Notes:





Note 1: Share-based compensation expenses (in thousands) are included in the operating cost and expenses as
follows:






For the Three Months Ended February 28


2026


2025


(Unaudited)


(Unaudited)


USD


USD

Cost of revenues

211


698

Selling and marketing

622


1,894

General and administrative

20,259


13,527

Total

21,092


16,119





Note 2: Each ADS represents ten common shares.



NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)





For the Three Months Ended February 28


2026


2025


(Unaudited)


(Unaudited)


USD


USD





Net cash (used in)/provided by operating activities

(7,455)


963

Net cash provided by investing activities

48,717


79,891

Net cash used in financing activities

(137,988)


(94,581)

Effect of exchange rate changes

35,385


(8,069)





Net change in cash, cash equivalents and restricted cash

(61,341)


(21,796)





Cash, cash equivalents and restricted cash at beginning
of period

2,098,138


1,611,073





Cash, cash equivalents and restricted cash at end of
period

2,036,797


1,589,277









NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands except for per share and per ADS amounts)





For the Nine Months Ended February 28


2026


2025


(Unaudited)


(Unaudited)


USD


USD

Net revenues

4,131,762


3,657,107





Operating cost and expenses (note 1)




Cost of revenues

1,850,856


1,613,419

Selling and marketing

593,346


572,053

General and administrative

1,130,106


1,034,711

Total operating cost and expenses

3,574,308


3,220,183

Operating income

557,454


436,924

Gain/(Loss) from fair value change of investments

7,651


(9,620)

Other income, net

61,311


99,190

Provision for income taxes

(170,732)


(144,759)

Loss from equity method investments

(11,997)


(17,239)

Net income

443,687


364,496





Net (income)/loss attributable to non-controlling interests

(30,697)


120

Net income attributable to New Oriental Education &
Technology Group Inc.'s shareholders

412,990


364,616









Net income per share attributable to New Oriental-Basic
(note 2)

0.26


0.22





Net income per share attributable to New Oriental-
Diluted (note 2)

0.26


0.22





Net income per ADS attributable to New Oriental-Basic
(note 2)

2.61


2.24





Net income per ADS attributable to New Oriental-Diluted
(note 2)

2.58


2.22













NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC.

RECONCILIATION OF NON-GAAP MEASURES TO THE MOST COMPARABLE GAAP MEASURES

(In thousands except for per share and per ADS amounts)




For the Nine Months Ended February 28


2026


2025


(Unaudited)


(Unaudited)


USD


USD





Operating income

557,454


436,924

Share-based compensation expenses

65,755


31,297

Amortization of intangible assets resulting from
business acquisitions

4,349


4,329

Non-GAAP operating income

627,558


472,550





Operating margin

13.5 %


11.9 %

Non-GAAP operating margin

15.2 %


12.9 %





Net income attributable to New Oriental

412,990


364,616

Share-based compensation expenses

63,084


27,655

(Gain) /Loss from fair value change of investments

(7,651)


9,620

Amortization of intangible assets resulting from
business acquisitions

2,696


2,703

Loss from equity method investments

11,997


17,239

Gain on disposals of investments and others

(1,516)


(161)

Tax effects on Non-GAAP adjustments

1,746


(2,684)

Non-GAAP net income attributable to New Oriental

483,346


418,988





Net income per ADS attributable to New Oriental-
Basic (note 2)

2.61


2.24

Net income per ADS attributable to New Oriental-
Diluted (note 2)

2.58


2.22





Non-GAAP net income per ADS attributable to New
Oriental - Basic (note 2)

3.05


2.57

Non-GAAP net income per ADS attributable to New
Oriental - Diluted (note 2)

3.02


2.55





Weighted average shares used in calculating basic net
income per ADS (note 2)

1,584,608,307


1,630,423,658

Weighted average shares used in calculating diluted
net income per ADS (note 2)

1,599,858,607


1,640,843,710





Net income per share - basic

0.26


0.22

Net income per share - diluted

0.26


0.22





Non-GAAP net income per share - basic

0.31


0.26

Non-GAAP net income per share - diluted

0.30


0.26





Notes:








Note 1: Share-based compensation expenses (in thousands) are included in the operating costs and expenses as
follows:






For the Nine Months Ended February 28


2026


2025


(Unaudited)


(Unaudited)


USD


USD

Cost of revenues

666


(1,738)

Selling and marketing

1,918


3,383

General and administrative

63,171


29,652

Total

65,755


31,297





Note 2: Each ADS represents ten common shares.

 

NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)





For the Nine Months Ended February 28


2026


2025


(Unaudited)


(Unaudited)


USD


USD





Net cash provided by operating activities

508,331


497,470

Net cash used in investing activities

(125,576)


(5,136)

Net cash used in financing activities

(227,433)


(486,494)

Effect of exchange rate changes

64,342


(5,667)





Net change in cash, cash equivalents and restricted cash

219,664


173





Cash, cash equivalents and restricted cash at beginning of
period

1,817,133


1,589,104





Cash, cash equivalents and restricted cash at end of period

2,036,797


1,589,277

 

 

 

Information Provided by PR Newswire [Disclaimer]
15:30
Microsoft: Microsoft 365 E7 Frontier Suite to Be Launched in HK in May

Microsoft (MSFT.US) announced that, as part of its 'Frontier Transformation' initiative, Microsoft 365 E7 Frontier Suite, as a Wave 3 of Microsoft Copilot, will be officially launched in Hong Kong on 1 May.

Microsoft 365 E7 integrates Microsoft 365 Copilot, Work IQ and Agent 365, while featuring enterprise-grade security, identity management and AI agent governance capabilities.

AIA (01299.HK) is leveraging Microsoft’s AI platform to implement a comprehensive agentic AI strategy across its operations, encompassing AI agent-powered product training, sales object management & knowledge access, automated claims processing and customer self-service.
~

AASTOCKS Financial News
Website: www.aastocks.com

Information Provided by AAStocks Financial News [Disclaimer]
14:32
BofAS Keeps Rating at Buy on Apple (AAPL.US), Expects Smooth Leadership Transition

Apple (AAPL.US) announced a major leadership transition after market closed on Monday (20th), BofA Securities issued a research report saying. Tim Cook will become Executive Chairman of the Board, while John Ternus, currently senior vice president of Hardware Engineering, will succeed as CEO, effective 1 September 2026.

The broker believed that the move signals positively for Apple's long-term vision, as Ternus has worked at Apple for more than 20 years and previously led hardware development across iPhone, iPad, Mac, Apple Watch, AirPods and Vision Pro.

BofA Securities viewed Cook's continuation as Chairman and his ongoing engagement with global policymakers as a positive sign for a smooth transition.

2027 will mark the 20th anniversary of iPhone and could be a big product year, BofA Securities added. The broker estimated the transition to proceed smoothly, similar to Apple's previous senior leadership changes. Therefore, BofA Securities kept rating at Buy on Apple, with a target price of US$325.
~


AASTOCKS Financial News
Website: www.aastocks.com

Information Provided by AAStocks Financial News [Disclaimer]
14:17
BofAS Keeps Buy on Tesla; Mkt Eyeing New Product R&D Pipeline

Tesla (TSLA.US) is set to release its 1Q26 results this week, and investors are likely to lay their eyes on the progress of the company's robotaxi deployment, BofA Securities wrote in its report.

Last Saturday, BofA Securities expressed that it was encouraged by Tesla's announcement that it had expanded its robotaxi services to Dallas and Houston, bringing the total number of deployed cities to four, a step closer to its target of reaching nine cities in 1H26.

BofA Securities also predicts investor attention to go to the progress in scaling up production of the Optimus humanoid robot, which forms a key component of Tesla's USD20 billion capital expenditure plan for this year. While the broker doesn't expect Optimus to make a meaningful contribution in the near term, it still sees substantial long-term potential.

Tesla's rating remains Buy, alongside a target price of USD460. BofA Securities believes the company is in the early stages of monetizing its autonomous driving capabilities.
~



AAStocks Financial News
Web Site: www.aastocks.com

Information Provided by AAStocks Financial News [Disclaimer]
09:26
【2026 ASCO】亞盛醫藥多項研究入選,其中三項獲快速口頭報告

美國馬裡蘭州羅克維爾市和中國蘇州2026年4月22日 /美通社/ -- 致力於在腫瘤等領域開發創新藥物的領先的生物醫藥企業——亞盛醫藥(納斯達克代碼:AAPG;香港聯交所代碼:6855)宣布,公司三個重點品種的六項臨床研究入選2026年美國臨床腫瘤學會(ASCO)年會,其中三項獲快速口頭報告。這三個重點品種分別為中國首個獲批上市的第三代BCR-ABL抑制劑奧雷巴替尼(商品名:耐立克®)、中國首個獲批上市的國產原創Bcl-2選擇性抑制劑利沙托克拉(商品名:利生妥®)和MDM2-p53抑制劑Alrizomadlin(APG-115)。

一年一度的ASCO年會是全球腫瘤領域最重要、最權威的學術交流盛會,將展示當前國際最前沿的臨床腫瘤學科研成果和腫瘤治療技術。本屆ASCO年會將於5月29日至6月2日(美國當地時間)在芝加哥McCormick會議中心以線上線下結合的形式舉辦。

亞盛醫藥首席醫學官翟一帆博士表示:「這將是亞盛醫藥連續第九年亮相ASCO年會,很高興能夠又一次站在這一國際頂尖學術舞台展示公司的全球創新與研發實力。今年,公司在研品種有多項研究入選,其中三項研究獲快速口頭報告,再次印證了國際學術界對公司原研品種臨床價值的高度認可。我們期待在會議期間為大家分享更為詳實的數據,並繼續加速全球臨床開發進程,早日為患者帶來更多治療選擇。」

亞盛醫藥將在本屆ASCO年會展示的臨床研究進展包括:

快速口頭報告

Olverembatinib (HQP1351) combined with blinatumomab in patients with lymphoid blast phase chronic myeloid leukemia (CML-LBP) or Philadelphia chromosome-positive B-cell precursor acute lymphoblastic leukemia (Ph+ BCP-ALL)
奧雷巴替尼(HQP1351)聯合貝林妥歐單抗治療淋系急變期慢性髓細胞白血病(CML-LBP)或費城染色體陽性B細胞前體急性淋巴細胞白血病(Ph+ BCP-ALL)患者
摘要編號:6513
展示形式:快速口頭報告
分會場標題:血液系統惡性腫瘤——白血病、骨髓增生異常綜合征及同種異體移植(Hematologic Malignancies—Leukemia, MDS, and Allotransplant)
報告時間:
2026年5月30日 13:15–14:45(美國中部時間)
2026年5月31日 凌晨2:15–3:45(北京時間)
第一作者:Elias Jabbour, MD,美國德克薩斯大學MD安德森癌症中心白血病科

Updated efficacy and safety of Olverembatinib (HQP1351) as second-line therapy in patients with chronic-phase chronic myeloid leukemia (CP-CML)
奧雷巴替尼(HQP1351)二線治療慢性期慢性髓細胞白血病(CP-CML)患者的最新療效和安全性數據
摘要編號:6510
展示形式:快速口頭報告
分會場標題:血液系統惡性腫瘤——白血病、骨髓增生異常綜合征及同種異體移植(Hematologic Malignancies—Leukemia, MDS, and Allotransplant)
報告時間:
2026年5月30日 13:15–14:45(美國中部時間)
2026年5月31日 凌晨2:15–3:45(北京時間)
第一作者:黎緯明教授,華中科技大學同濟醫學院附屬協和醫院血液科

Alrizomadlin (APG-115) alone or in combination with Lisaftoclax (APG-2575) for the treatment of pediatric patients with relapsed/metastatic rhabdomyosarcoma (RMS) or other soft-tissue sarcomas (STSs)
AlrizomadlinAPG-115)單藥或聯合利沙托克拉(APG-2575)治療復發/轉移性橫紋肌肉瘤(RMS)或其他軟組織肉瘤(STSs)兒童患者
摘要編號:10012
展示形式:快速口頭報告
分會場標題:兒童腫瘤II(Pediatric Oncology II)
報告時間:
2026年5月30日 8:00–9:30(美國中部時間)
2026年5月30日 21:00–22:30(北京時間)
第一作者:張翼鷟教授,中山大學腫瘤防治中心兒童腫瘤科,華南腫瘤學國家重點實驗室,腫瘤醫學協同創新中心

壁報展示

Updated clinical and translational results of Olverembatinib (HQP1351) in patients with succinate dehydrogenase (SDH)-deficient tumors
奧雷巴替尼(HQP1351)治療琥珀酸脫氫酶缺陷型(SDH-)腫瘤患者的最新臨床和轉化研究結果
摘要編號:11539
展示形式:壁報展示
分會場標題:肉瘤(Sarcoma)
報告時間:
2026年6月1日 13:30–16:30(美國中部時間)
2026年6月2日 凌晨2:30–5:30(北京時間)
第一作者:邱海波教授,中山大學腫瘤防治中心,華南腫瘤學國家重點實驗室,腫瘤醫學協同創新中心

A phase 3 study of Olverembatinib (HQP1351) in patients with chronic-phase chronic myeloid leukemia: POLARIS-2 trial in progress
奧雷巴替尼(HQP1351)治療慢性期慢性髓細胞白血病患者的III期臨床研究:正在進行中的POLARIS-2試驗
摘要編號:TPS6608
展示形式:壁報展示
分會場標題:血液系統惡性腫瘤——白血病、骨髓增生異常綜合征及同種異體移植(Hematologic Malignancies—Leukemia, MDS, and Allotransplant)
報告時間:
2026年6月1日 9:00–12:00(美國中部時間)
2026年6月1日 22:00–次日凌晨1:00(北京時間)
第一作者:Elias Jabbour, MD,美國德克薩斯大學MD安德森癌症中心白血病科

A global multicenter, open-label, randomized, phase 3 registrational study of Lisaftoclax (APG-2575) in previously treated chronic lymphocytic leukemia/small lymphocytic lymphoma (CLL/SLL): GLORA trial in progress
利沙托克拉(APG-2575)治療既往經治慢性淋巴細胞白血病/小淋巴細胞淋巴瘤(CLL/SLL)患者的全球多中心、開放性、隨機、III期注冊臨床研究:正在進行中的GLORA試驗
摘要編號:TPS7101
展示形式:壁報展示
分會場標題:血液系統惡性腫瘤——淋巴瘤和慢性淋巴細胞白血病(Hematologic Malignancies—Lymphoma and Chronic Lymphocytic Leukemia)
報告時間:
2026年6月1日 9:00–12:00(美國中部時間)
2026年6月1日 22:00–次日凌晨1:00(北京時間)
第一作者:Matthew Steven Davids, MD,美國丹娜法伯癌症研究院

關於亞盛醫藥

亞盛醫藥(納斯達克代碼:AAPG;香港聯交所代碼:6855)是一家綜合性的全球生物醫藥企業,致力於研發、生產和商業化創新藥,以解決腫瘤領域全球患者尚未滿足的臨床需求。公司已建立豐富的創新藥產品管線,包括抑制Bcl-2和 MDM2-p53 等細胞凋亡通路關鍵蛋白的抑制劑、新一代針對癌症治療中出現的激酶突變體的抑制劑以及蛋白降解劑。

公司核心品種耐立克®是中國首個獲批上市的第三代BCR-ABL抑制劑,已獲批用於治療伴有T315I突變的慢性髓細胞白血病慢性期(CML-CP)和加速期(CML-AP)患者,以及對一代和二代TKI耐藥和/或不耐受的CML-CP成年患者。該藥物所有獲批適應症均已被納入中國國家醫保藥品目錄(NRDL)。目前,亞盛醫藥正在開展耐立克®三項全球注冊III期臨床研究,分別為:獲美國FDA和歐洲EMA許可的評估耐立克®治療新診斷費城染色體陽性急性淋巴細胞白血病(Ph+ ALL)患者POLARIS-1研究;獲美國FDA和歐洲EMA許可的評估耐立克®治療經治CML-CP成年患者的POLARIS-2研究;評估耐立克®治療SDH-缺陷型GIST患者的POLARIS-3研究。

公司另一重磅品種利生妥®是一款用於治療多種血液系統惡性腫瘤的新型Bcl-2抑制劑。利生妥®已獲中國國家藥品監督管理局(NMPA)批准,用於治療既往至少接受過一種包括布魯頓酪氨酸激酶(BTK)抑制劑在內的系統治療的成人慢性淋巴細胞白血病/小淋巴細胞淋巴瘤(CLL/SLL)患者。目前,亞盛醫藥正在開展利生妥®四項全球注冊III期臨床研究,分別為:獲美國FDA和歐洲MEA許可的評估利生妥®聯合BTK抑制劑治療既往接受BTK抑制劑治療超過12個月且應答不佳的CLL/SLL患者的GLORA研究;評估利生妥®一線治療初治CLL/SLL患者的GLORA-2研究;評估利生妥®一線治療新診斷老年或不耐受的AML患者的GLORA-3研究;以及獲美國FDA和歐洲EMA許可的評估利生妥®一線治療新診斷中高危MDS患者的GLORA-4研究。

憑借強大的研發能力,亞盛醫藥已在全球范圍內進行知識產權布局,並與武田、阿斯利康、默沙東、輝瑞、信達等眾多領先的生物制藥公司達成全球合作,同時與丹娜法伯癌症研究院、梅奧醫學中心、美國國家癌症研究所和密西根大學等學術機構建立研發合作關系。如需了解更多信息,請訪問 https://ascentage.com/

前瞻性聲明

本新聞稿包含根據美國《1995年私人證券訴訟改革法案》,以及經修訂的《1933年證券法》第27A條和《1934年證券交易法》第21E條所界定的前瞻性陳述。除歷史事實陳述外,本新聞稿中的所有內容均可能構成前瞻性陳述,包括亞盛醫藥對未來事件、經營成果或財務狀況所發表的意見、預期、信念、計劃、目標、假設或預測。

這些前瞻性陳述受到諸多風險和不確定性的影響,具體內容已在亞盛醫藥向美國證券交易委員會(SEC)提交的文件中詳細說明,包括2025年1月21日提交的經修訂的F-1表格注冊說明書和2025年4月16日提交的20-F表格中的「風險因素」和「關於前瞻性聲明的警示聲明」章節、2019年10月16日提交的首次發行上市招股書中的「前瞻性聲明」、「風險因素」章節,以及我們不時向SEC或HKEX提交的其他文件。這些因素可能導致實際業績、運營水平、經營成果或成就與前瞻性陳述中明示或暗示的信息存在重大差異。本前瞻性聲明中的陳述不構成公司管理層的利潤預測。

因此,該等前瞻性陳述不應被視為對未來事件的預測。本新聞稿中的前瞻性陳述僅基於亞盛醫藥當前對未來發展及其潛在影響的預期和判斷,且僅代表截至陳述發表之日的觀點。無論出現新信息、未來事件或其他情況,亞盛醫藥均無義務更新或修訂任何前瞻性陳述。

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08:59
Kelun-Biotech Announces Three Clinical Study Results Selected for Oral Presentations at 2026 ASCO Annual Meeting

CHENGDU, China, April 22, 2026 /PRNewswire/ -- The 2026 American Society of Clinical Oncology (ASCO) Annual Meeting will be held in Chicago from May 29 to June 2. In this meeting, Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. (6990.HK) will present results from three clinical studies, including data from its TROP2 ADC sacituzumab tirumotecan (sac-TMT, 佳泰莱®), next-generation selective RET inhibitor lunbotinib fumarate (A400/EP0031, 宁泰莱®[1]) and novel ADC SKB500. The abstracts for these studies will be published on the ASCO official website on May 21, 2026, local time.

Detailed information on the studies selected for 2026 ASCO is as follows:

Title: Sacituzumab tirumotecan (sac-TMT) plus pembrolizumab (P) versus pembrolizumab (P) as first-line treatment for PD-L1-positive advanced non-small cell lung cancer (NSCLC): Results from the randomized, controlled phase III OptiTROP-Lung05 study
Presentation Type: Oral
Abstract Number: 8506
Session Date and Time: May 29, 3:12 PM-3:24 PM CDT | Lung Cancer-Non-Small Cell Metastatic

Title: Efficacy and safety of lunbotinib (A400/EP0031), a next-generation selective RET inhibitor (SRI), from a pivotal phase Ⅱ study in patients with advanced RET fusion-positive non-small cell lung cancer (NSCLC)
Presentation Type: Oral
Abstract Number: 8505
Session Date and Time: May 29, 2:36 PM-2:48 PM CDT | Lung Cancer-Non-Small Cell Metastatic

Title: An open-label, first-in-human study of SKB500 in patients with locally advanced or metastatic solid tumors
Presentation Type: Rapid oral
Abstract Number: 3011
Session Date and Time: June 2, 9:57 AM-10:03 AM CDT | Molecularly Targeted Agents and Tumor Biology

About sac-TMT

Sac-TMT, a core product of the Company, is a novel human TROP2 ADC in which the Company has proprietary intellectual property rights, targeting advanced solid tumors such as NSCLC, breast cancer (BC), gastric cancer (GC), gynecological tumors and genitourinary tumors, among others. Sac-TMT is developed with a unique, bifunctional linker that maximizes payload delivery to tumor cells both through its irreversible connection with the anti-TROP2 monoclonal antibody sacituzumab and its pH-sensitive cleavage from a belotecan-derivative topoisomerase I inhibitor payload in the lysosome, with a drug-to-antibody-ratio (DAR) of 7.4. Sac-TMT specifically recognizes TROP2 on the surface of tumor cells by recombinant anti-TROP2 humanized monoclonal antibodies, which is then endocytosed by tumor cells and releases the payload KL610023 intracellularly. KL610023, as a topoisomerase I inhibitor, induces DNA damage to tumor cells, which in turn leads to cell-cycle arrest and apoptosis. In addition, it also releases KL610023 in the tumor microenvironment. Given that KL610023 is membrane permeable, it can enable a bystander effect, or in other words kill adjacent tumor cells.

In May 2022, the Company licensed the exclusive rights to MSD (the tradename of Merck & Co., Inc, Rahway, NJ, USA) to develop, use, manufacture and commercialize sac-TMT in all territories outside of Greater China (which includes Mainland China, Hong Kong, Macao and Taiwan).

To date, four indications for sac-TMT have been approved and marketed in China for: 1) unresectable locally advanced or metastatic TNBC who have received at least two prior systemic therapies (at least one of them for advanced or metastatic setting);2) EGFR mutant-positive locally advanced or metastatic non-squamous NSCLC following progression on EGFR-TKI therapy and platinum-based chemotherapy; 3) EGFR mutant-positive locally advanced or metastatic non-squamous NSCLC who progressed after treatment with EGFR-TKI therapy; 4) unresectable or metastatic HR+/HER2- (IHC 0, IHC 1+ or IHC 2+/ISH-) BC who have received prior ET and at least one line of chemotherapy in advanced setting. The first two indications above have been included in China's National Reimbursement Drug List (NRDL). This inclusion is expected to bring clinically meaningful benefits to a greater number of patients with BC and NSCLC. Additionally, sac-TMT has been granted six Breakthrough Therapy Designations (BTDs) by the NMPA.

Sac-TMT is the world's first TROP2 ADC drug approved for marketing in lung cancer. As of today, Kelun-Biotech has initiated 9 registrational clinical studies in China. MSD is evaluating 17 ongoing global Phase III clinical studies of sac-TMT as a monotherapy or in combination with pembrolizumab or other anti-cancer agents for several types of cancer. These studies are sponsored and led by MSD.

About A400/EP0031

A400/EP0031 novel next-generation selective RET inhibitor for NSCLC, medullary thyroid cancer (MTC) and other solid tumors with a high prevalence of RET alterations. The NDA of A400/EP0031 has been accepted for review by the Center for Drug Evaluation (CDE) of the National Medical Products Administration (NMPA) of China for the treatment of adult patients with RET-fusion positive locally advanced or metastatic NSCLC. The Company is also conducting a Phase Ib/II clinical study in China for the treatment of RET-positive solid tumors.

In March 2021, the Company granted Ellipses Pharma Limited, a U.K.-based international oncology drug development company, an exclusive license to develop, manufacture and commercialize this agent outside Greater China and certain Asian countries. In April 2024, A400/EP0031 was cleared by the Food and Drug Administration (FDA) to progress into a Phase II clinical trial (NCT05443126) which is currently recruiting in the United States, United Kingdom, Europe and United Arab Emirates, where it is being evaluated as a monotherapy and in combination with chemotherapy in RET fusion positive NSCLC.

About SKB500

SKB500, a novel, proprietary ADC developed via the OptiDC™ platform, is designed to leverage specific target biology through a validated target combined with a differentiated payload-linker strategy. In preclinical investigations, SKB500 demonstrated a favorable therapeutic window with robust efficacy and manageable safety profiles across multiple advanced solid tumors.

Currently, a Phase II exploratory study of SKB500 in combination with immunotherapy with or without chemotherapy as first-line treatment for extensive-stage small cell lung cancer (ES-SCLC) is ongoing in China.

About Kelun-Biotech

Kelun-Biotech (6990.HK) is a holding subsidiary of Kelun Pharmaceutical, which focuses on the R&D, manufacturing, commercialization and global collaboration of innovative biological drugs and small molecule drugs. Kelun-Biotech focuses on major disease areas such as solid tumors, autoimmune, and metabolic diseases, and in establishing a globalized drug development and industrialization platform to address the unmet medical needs in China and the rest of world. Kelun-Biotech is committed to becoming a leading global enterprise in the field of innovative drugs. At present, Kelun-Biotech has more than 30 ongoing key innovative drug projects, of which 4 projects have been approved for marketing, 1 project is in the NDA stage and more than 10 projects are in the clinical stage. Kelun-Biotech has established one of the world's leading proprietary ADC and novel DC platforms, OptiDC™, and has 2 ADC projects approved for marketing, and multiple ADC and novel DC assets in clinical or preclinical research stage. For more information, please visit https://en.kelun-biotech.com/.

[1] Trade name to be approved by NMPA

 

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08:28
2026 ASCO | 科倫博泰3項研究成果入選2026美國臨床腫瘤學會年會口頭彙報

成都2026年4月22日 /美通社/ -- 2026年美國臨床腫瘤學會(ASCO)年會將於529日至62日在美國芝加哥舉行。四川科倫博泰生物醫藥股份有限公司(「科倫博泰」或「公司」,6990.HK)將在本次大會公佈TROP2 ADC蘆康沙妥珠單抗(sac-TMT,佳泰萊®)、下一代選擇性RET抑制劑富馬酸侖博替尼(A400/EP0031,寧泰萊®[1])以及新型ADC SKB500的三項臨床研究結果,相關研究摘要全文將於當地時間2026年5月21日發佈在 ASCO 官方網站上。

2026 ASCO展示的臨床研究成果具體包括:

標題:蘆康沙妥珠單抗(sac-TMT)聯合帕博利珠單抗對比帕博利珠單抗一線治療PD-L1陽性晚期非小細胞肺癌(NSCLC):隨機、對照III期研究(OptiTROP-Lung05)結果
展示形式:口頭報告
摘要#:8506
會議日期和時間當地時間5月29日15:12-15:24 | 肺癌-轉移性非小細胞

標題:下一代選擇性RET抑制劑(SRI)富馬酸侖博替尼(A400/EP0031)用於治療晚期RET融合陽性非小細胞肺癌(NSCLC)患者的關鍵II期研究的療效與安全性
展示形式:口頭報告
摘要#:8505
會議日期和時間當地時間5月29日14:36-14:48 | 肺癌-轉移性非小細胞

標題:一項評估SKB500治療局部晚期或轉移性實體瘤患者的開放標籤、首次人體研究
展示形式:快速口頭報告
摘要#:3011
會議日期和時間當地時間6月2日9:57-10:03 | 分子靶向藥物與腫瘤生物學

關於蘆康沙妥珠單抗(sac-TMT)(佳泰萊®)
作為公司的核心產品,蘆康沙妥珠單抗(sac-TMT)是一款公司擁有自主智慧財產權的新型TROP2 ADC,針對NSCLC、乳腺癌(BC)、胃癌(GC)、婦科腫瘤及泌尿生殖系統腫瘤等晚期實體瘤。蘆康沙妥珠單抗(sac-TMT)採用獨特雙功能連接子開發而成。該連接子一方面通過與抗TROP2單抗沙妥珠單抗形成不可逆結合,另一方面在溶酶體中可從貝洛替康衍生物拓撲異構酶I抑制劑載荷pH敏感裂解,從而最大限度將有效載荷遞送至腫瘤細胞,藥物抗體比(DAR)達到7.4。蘆康沙妥珠單抗(sac-TMT)通過重組抗TROP2人源化單克隆抗體特異性識別腫瘤細胞表面的TROP2,其後被腫瘤細胞內吞併於細胞內釋放有效載荷KL610023。KL610023作為拓撲異構酶I抑制劑,可誘導腫瘤細胞DNA損傷,進而導致細胞週期阻滯及細胞凋亡。此外,其亦於腫瘤微環境中釋放KL610023。鑒於KL610023具有細胞膜滲透性,其可實現旁觀者效應,即殺死鄰近的腫瘤細胞。

於2022年5月,公司授予默沙東(美國新澤西州羅威市默克公司的商號)在大中華區(包括中國內地、香港、澳門及臺灣)以外的所有地區開發、使用、製造及商業化蘆康沙妥珠單抗(sac-TMT)的獨家權利。

截至目前,蘆康沙妥珠單抗(sac-TMT)的4項適應症已於中國獲批上市,分別用於:1)既往至少接受過2種系統治療(其中至少1種治療針對晚期或轉移性階段)的不可切除的局部晚期或轉移性TNBC;2)經EGFR-TKI和含鉑化療治療後進展的EGFR基因突變陽性的局部晚期或轉移性非鱗狀NSCLC;3)經EGFR-TKI治療後進展的EGFR基因突變陽性的局部晚期或轉移性非鱗狀NSCLC;4)既往接受過內分泌治療且在晚期疾病階段接受過至少一線化療的不可切除或轉移性的HR+/HER2- (IHC 0、IHC 1+或IHC 2+/ISH-) BC;其中前2項適應症已經被納入醫保範圍,將為更多乳腺癌和非小細胞肺癌患者帶來臨床意義上的獲益。此外,蘆康沙妥珠單抗(sac-TMT)已獲國家藥品監督管理局(NMPA)授予6項突破性療法認定(BTD)。

蘆康沙妥珠單抗(sac-TMT)是全球首個在肺癌適應症獲批上市的TROP2 ADC藥物。目前,科倫博泰已在中國開展9項註冊性臨床研究。默沙東已佈局17項正在進行的蘆康沙妥珠單抗(sac-TMT)作為單藥療法或聯合帕博利珠單抗或其他抗癌藥物用於多種類型癌症的全球性III期臨床研究(這些研究由默沙東申辦並主導)。

關於富馬酸侖博替尼(A400/EP0031)(寧泰萊®[1] )
A400/EP0031是一款新型下一代選擇性RET抑制劑,開發用於治療NSCLC、甲狀腺髓樣瘤(MTC)以及其他RET變異的實體瘤。A400/EP0031用於治療RET融合陽性的局部晚期或轉移性NSCLC成人患者的新藥上市申請(NDA)已獲中國國家藥品監督管理局藥品評審中心(CDE)受理。公司亦在中國進行一項其用於治療RET+實體瘤的Ib/II期臨床研究。

2021年3月,本公司向總部設在英國的國際腫瘤藥物開發公司Ellipses Pharma Limited授出在大中華區及部分亞洲國家之外開發、製造及商業化此藥物的獨家授權。2024年4月,A400/EP0031獲美國食品藥品監督管理局(FDA)批准進入II期臨床研究(NCT05443126),目前正在美國、英國、歐盟和阿聯酋入組患者,評估該藥物作為單藥及聯合化療在RET融合陽性NSCLC中的療效。

關於SKB500
SKB500是一款由公司針對靶點生物學特點,利用OptiDC™平臺技術研發的具有自主智慧財產權的新型ADC藥物,其採用了經驗證靶點與差異化的有效載荷-連接子策略。在前期研究中,SKB500顯示出良好的療效和安全窗,擬用於治療多種晚期實體瘤。目前,SKB500聯合免疫加與不加化療一線治療廣泛期小細胞肺癌(ES-SCLC)的聯合用藥探索II期研究正在中國進行中。

關於科倫博泰
四川科倫博泰生物醫藥股份有限公司(簡稱「科倫博泰」,股票代碼:6990.HK)是科倫藥業控股子公司,專注于創新生物技術藥物及小分子藥物的研發、生產、商業化及國際合作。公司圍繞全球和中國未滿足的臨床需求,重點佈局腫瘤、自身免疫和代謝等重大疾病領域,建設國際化藥物研發與產業化平臺,致力於成為在創新藥物領域國際領先的企業。公司目前擁有30余個重點創新藥項目,其中4個項目8個適應症已獲批上市,1個專案處於NDA階段,10餘個專案正處於臨床階段。公司成功構建了享譽國際的專有ADC及新型偶聯藥物平臺OptiDC™,已有2個ADC項目5個適應症獲批上市,多個ADC或新型偶聯藥物產品處於臨床或臨床前研究階段。

[1] 商品名待NMPA批准

 

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08:00
Innovent to Present New Clinical Data of IBI363(PD-1/IL-2α-biased bispecific fusion protein) at the 2026 ASCO Annual Meeting

SAN FRANCISCO and SUZHOU, China, April 22, 2026 /PRNewswire/ -- Innovent Biologics, Inc. ("Innovent") (HKEX: 01801), a world-class biopharmaceutical company that develops, manufactures and commercializes high quality medicines for the treatment of oncology, cardiovascular and metabolic, autoimmune, ophthalmology and other major diseases, announces that clinical data for its first-in-class IBI363 (PD-1/IL-2α-biased bispecific fusion protein) * as well as TYVYT® (sintilimab injection)** will be presented at the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting from May 29 to June 2, 2026, in Chicago, Illinois, U.S.

Dr. Hui Zhou, Chief R&D Officer (Oncology) of Innovent, stated: "We are excited to announce that at the 2026 ASCO Annual Meeting, we will present new PoC data of IBI363 in NSCLC, across both IO-resistant and first-line settings. With robust PoC data for IO-resistant NSCLC now in hand, we are moving IBI363 into MRCT pivotal development, an important step toward tackling a major global unmet medical need. At the same time, we are encouraged by the promising dose optimization data in first-line NSCLC, and we look forward to continued maturation of PoC full data to inform our next steps. Innovent will continue to push the boundaries of cancer care, as we are dedicated to delivering physicians and patients more innovative, effective, and life-saving treatment options."

Abstracts of IBI363(PD-1/IL-2α-biased bispecific fusion protein)

1.  Presentation Title: IBI363 (TAK-928) plus chemotherapy as first line (1L) treatment for advanced non-small cell lung cancer (NSCLC).
Abstract Number: 8586
Session Type: Poster
Session Title: Lung Cancer/Non-Small Cell Metastatic
Session Date & Time: May 31, 2026 9:00 AM-12:00 PM CDT
Presenter: Dr. Haiyan Tu, Guangdong Provincial People's Hospital

2.  Presentation Title: First-in-class PD-1/IL-2α-bias bispecific antibody IBI363 (TAK-928) in patients (pts) with advanced immunotherapy-resistant non-small cell lung cancer (NSCLC): updated results from a phase I study.
Abstract Number: 2618
Session Type: Poster
Session Title: Developmental Therapeutics/Immunotherapy
Session Date & Time: May 30, 2026 1:30 PM-4:30 PM CDT
Presenter: Dr. Jianya Zhou, First Affiliated Hospital of Zhejiang University School of Medicine

3.  Presentation Title: Randomized phase 3 study (MarsLight-11) evaluating IBI363 (TAK-928) versus docetaxel in patients (pts) with squamous non-small cell lung cancer (sqNSCLC) after prior chemotherapy (chemo) and immunotherapy (IO).
Abstract Number: TPS8673
Session Type: Poster
Session Title: Lung Cancer/Non-Small Cell Metastatic
Session Date & Time: May 31, 2026 9:00 AM-12:00 PM CDT
Presenter: Dr. Roy S. Herbst, Yale School of Medicine

Abstracts of TYVYT®(sintilimab)

1.  Presentation Title: Adjuvant sintilimab plus bevacizumab following curative resection of spontaneously ruptured hepatocellular carcinoma: A prospective exploratory phase II study (CLEAR-2)
Abstract Number: TPS4254
Session Type: Poster
Session Title: Gastrointestinal Cancer—Gastroesophageal, Pancreatic, and Hepatobiliary
Session Date & Time: May 30, 2026, 9:00 AM-12:00 PM CDT
Presenter: Dr. Yongjun Chen, Ruijin Hospital, Shanghai Jiaotong University School of Medicine

2.  Presentation Title: Neoadjuvant chemoradiotherapy with or without PD-1 blockade in pMMR/MSS low rectal cancer patients (CHOICE II): A multi-center, open-label, randomized controlled trial.
Abstract Number: 3640
Session Type: Poster
Session Title: Gastrointestinal Cancer—Colorectal and Anal
Session Date & Time: May 30, 2026, 9:00 AM-12:00 PM CDT
Presenter: Dr. Wei Zhang, Changhai Hospital

3.  Presentation Title: Effectiveness and Safety of IBI310 Combined With Sintilimab Versus Sorafenib in the First-line Treatment of Advanced Hepatocellular Carcinoma (aHCC): A Randomized, Open-label, Controlled, Multicenter Phase III Clinical Study 
Abstract Number: 4148
Session Type: Poster
Session Title: Gastrointestinal Cancer—Gastroesophageal, Pancreatic, and Hepatobiliary
Session Date & Time: May 30, 2026, 9:00 AM-12:00 PM CDT
Presenter: Dr. Jia Fan, Zhongshan Hospital, Fudan University

4.  Presentation Title: CONCEPT (combination of cetuximab plus fruquintinib treatment ± immunotherapy): A multicenter, randomized, open-label phase II trial in first-line pMMR RAS/BRAF wild-type unresectable metastatic colorectal cancer.
Abstract Number: TPS3680
Session Type: Poster
Session Title: Gastrointestinal Cancer—Colorectal and Anal
Session Date & Time: May 30, 2026, 9:00 AM-12:00 PM CDT
Presenter: Dr. Yue Liu, The Second Affiliated Hospital of Zhejiang University School of Medicine.

5.  Presentation Title: Long-term survival and biomarker analysis of neoadjuvant chemoradiotherapy with or without PD-1 antibody sintilimab in pMMR locally advanced rectal cancer: A randomized clinical trial. 
Abstract Number: 3610
Session Type: Poster
Session Title: Gastrointestinal Cancer—Colorectal and Anal
Session Date & Time: May 30, 2026 9:00 AM-12:00 PM CDT
Presenter: Dr. Xiao Weiwei, Sun Yat-sen University Cancer Center

6.  Presentation Title: Larynx preservation via chemotherapy-free neoadjuvant sintilimab-cetuximab-SBRT and response-adapted treatment in locally advanced laryngeal cancer: A phase II, single-arm clinical trial (The NeoVOICE study).
Abstract Number: 6095
Session Type: Poster
Session Title: Head and Neck Cancer
Session Date & Time: May 30, 2026 1:30 PM-4:30 PM CDT
Presenter: Dr. Song Ming, Sun Yat-sen University Cancer Center

7.  Presentation Title: Pathological complete response and ctDNA analyses in SCIENCE: Results from a randomized, phase III trial of neoadjuvant chemotherapy plus sintilimab and chemoradiotherapy plus sintilimab versus chemoradiotherapy in resectable locally advanced esophageal squamous cell carcinoma.
Abstract Number: LBA4082
Session Type: Poster
Session Title: Gastrointestinal Cancer-Gastroesophageal, Pancreatic, and Hepatobiliary
Session Date & Time: May 30, 2026 9:00 AM-12:00 PM CDT
Presenter: Dr. Xuefeng Leng, Sichuan Cancer Hospital

8.  Presentation Title: Sintilimab (PD-1 antibody) Plus Gemcitabine and Docetaxel (GT) as First-line or Later-line Therapy in Patients with Advanced Epithelioid Sarcoma: A Prospective, Multicenter, Single-arm, Phase II Clinical Study.
Abstract Number: 11574
Session Type: Poster
Session Title: Sarcoma
Session Date & Time: June 1, 2026 1:30 PM-4:30 PM CDT
Presenter: Dr. Xiaowei Zhang, Fudan University Shanghai Cancer Center

9.  Presentation Title: Sintilimab plus Anlotinib and Chemotherapy as First-line Treatment for Advanced Malignant Pleural Mesothelioma: A Prospective, Phase II Clinical Trial.
Abstract Number: 8050
Session Type: Poster
Session Title: Lung Cancer—Non-Small Cell Local-Regional/Small Cell/Other Thoracic Cancers
Session Date & Time: May 31, 2026 9:00 AM-12:00 PM CDT
Presenter: Dr. Jianchun Duan, Cancer Hospital, Chinese Academy of Medical Sciences

*Innovent entered into a license and collaboration agreement with Takeda for co-development and co-commercialization of IBI363 (Takeda R&D code: TAK-928). Please refer to the announcement for more information.

**Abstracts of TYVYT ®(sintilimab) are from investigator-initiated clinical trials (IIT), except for abstract #4148.

About Innovent

Innovent is a leading biopharmaceutical company founded in 2011 with the mission to empower patients worldwide with affordable, high-quality biopharmaceuticals. The company discovers, develops, manufactures and commercializes innovative medicines that target some of the most intractable diseases. Its pioneering therapies treat cancer, cardiovascular and metabolic, autoimmune and eye diseases. Innovent has launched 18 products in the market. It has 5 assets in Phase III or pivotal clinical trials and 14 more molecules in early clinical stage. Innovent partners with over 30 global healthcare companies, including Eli Lilly, Roche, Takeda, Sanofi, Incyte, LG Chem and MD Anderson Cancer Center.

Guided by the motto, "Start with Integrity, Succeed through Action," Innovent maintains the highest standard of industry practices and works collaboratively to advance the biopharmaceutical industry so that first-rate pharmaceutical drugs can become widely accessible. For more information, visit www.innoventbio.com, or follow Innovent on Facebook and LinkedIn.

Statement: (1)Innovent does not recommend the use of any unapproved drug (s)/indication (s).

2Ramucirumab (Cyramza) and Selpercatinib (Retsevmo) and Pirtobrutinib (Jaypirca) were developed by Eli Lilly and Company.

Forward-looking statement

This news release may contain certain forward-looking statements that are, by their nature, subject to significant risks and uncertainties. The words "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to Innovent Biologics ("Innovent"), are intended to identify certain of such forward-looking statements. The Company does not intend to update these forward-looking statements regularly.

These forward-looking statements are based on the existing beliefs, assumptions, expectations, estimates, projections and understandings of the management of the Company with respect to future events at the time these statements are made. These statements are not a guarantee of future developments and are subject to risks, uncertainties and other factors, some of which are beyond the Company's control and are difficult to predict. Consequently, actual results may differ materially from information contained in the forward-looking statements as a result of future changes or developments in our business, the Company's competitive environment and political, economic, legal and social conditions.

The Company, the Directors and the employees of the Company assume (a) no obligation to correct or update the forward-looking statements contained in this site; and (b) no liability in the event that any of the forward-looking statements does not materialise or turn out to be incorrect.

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04:12
Uncertainty Over US-Iran Talks Sends 3 Major US Stock Indices Tumbling; DJIA Ends Down 293 pts

Amid investor concerns that the US and Iran may fail to reach a peace agreement before Wednesday's ceasefire deadline, US equities headed south following early gains on Tuesday. The DJIA ended the day down 293 points or 0.6% at 49,149. The S&P 500 declined 45 points or 0.6% to close at 7,064. The Nasdaq dropped 144 points or 0.6%, closing at 24,259.

UnitedHealth (UNH.US) crossed the finish line up 7%. It delivered forecast-beating results for 1Q26 and raised earnings guidance. Amazon (AMZN.US) inched 0.7% higher. It announced plans to invest up to an additional USD25 billion in AI company Anthropic. 3M (MMM.US) receded 2% post-results. It maintained its full-year earnings guidance unchanged.
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