BEIJING, Jan. 21, 2025 /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 second fiscal quarter ended November 30, 2024, which is the second quarter of New Oriental's fiscal year 2025.

Financial Highlights for the Second Fiscal Quarter Ended November 30, 2024

• Total net revenues increased by 19.4% year over year to US$1,038.6 million for the second fiscal quarter of 2025. Total net revenues, excluding revenues generated from East Buy private label products and livestreaming business, increased by 31.3% year over year to US$894.2 million for the second fiscal quarter of 2025.
• Operating income decreased by 9.8% year over year to US$19.3 million for the second fiscal quarter of 2025. Operating income, excluding operating loss generated from East Buy private label products and livestreaming business, increased by 102.5% year over year to US$25.0 million for the second fiscal quarter of 2025.
• Net income attributable to New Oriental increased by 6.2% year over year to US$31.9 million for the second fiscal quarter of 2025.

Key Financial Results 

Operating Highlights for the Second Fiscal Quarter Ended November 30, 2024

Michael Yu, New Oriental's Executive Chairman, commented, "We are encouraged by the sustained healthy top line growth of 19.4% in the second fiscal quarter of this year. Total net revenues, excluding revenues generated from East Buy private label products and livestreaming business, increased by 31.3% year over year. Our overseas test preparation and overseas study consulting business increased by approximately 21.1% and 31.0% year over year, respectively. In addition, the domestic test preparation business targeting adults and university students recorded a growth of approximately 34.9% year over year. Furthermore, our new educational business initiatives have maintained strong momentum this fiscal quarter, with revenue growth of 42.6% year over year. Among these initiatives, our non-academic tutoring courses were offered in around 60 cities, attracting approximately 994,000 student enrollments in this fiscal quarter. Simultaneously, our intelligent learning system and devices were adopted in around 60 cities, with approximately 261,000 active paid users in this fiscal quarter. With our strong educational resources, we will continue to execute our long-term strategy of balancing healthy and sustainable growth while improving profitability, supported by our improving service quality and operating efficiency."

Chenggang Zhou, New Oriental's Chief Executive Officer, added, "In this fiscal quarter, we closely monitored our capacity expansion to align with revenue growth and operating efficiency. At the same time, we continued to devote efforts to revamp our online-merge-offline teaching system and apply new technologies to enhance user experience and support the growth of our educational offerings. Furthermore, for the first six months of fiscal year 2025, East Buy expanded its private label offerings to 600 SKUs, including healthcare and pet foods. Its private label products contributed approximately 37% of total GMV. To reach a wider customer base, East Buy leveraged a multi-platform approach with online shops and livestreaming, and it is also exploring offline channels through vending machines in EDU learning centers."

Stephen Zhihui Yang, New Oriental's Executive President and Chief Financial Officer, commented, "Despite the second quarter traditionally being the slowest of the year, we managed to generate a Non-GAAP operating profit of US$27.6 million for the quarter and delivered a slight year over year improvement in operating margin for our core educational business this fiscal quarter. To better reflect New Oriental's core educational businesses, the following operating margin numbers in this fiscal quarter exclude the financial results of East Buy's private label products and livestreaming business. Our GAAP operating margin for the quarter, excluding operating margin generated from East Buy private label products and livestreaming business, was 2.8%, representing an improvement of 100 basis points year over year. Our Non-GAAP operating margin, excluding operating margin generated from East Buy private label products and livestreaming business for the quarter, was 3.2%, representing an improvement of 12 basis points year over year. We recorded a positive operating cash flow of US$313.3 million this quarter and by the end of this fiscal quarter, our cash and cash equivalents, term deposits and short-term investments totaled approximately US$4.8 billion. In the second half of this fiscal year, we will continue focusing on enhancing utilization of facilities and improving operational efficiency. We are confident in our ability to create sustainable value for our customers and shareholders in the long term."

Recent Development

On August 19, 2024, New Oriental announced its board of directors 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. The payment date was on or around September 23, 2024, for holders of common shares and September 26, 2024, for holders of ADSs. The total cash dividend distributed was approximately US$100 million.

Share Repurchase

The Company's board of directors approved a Share Repurchase Program in July 2022, under which the Company is authorized to repurchase up to US$400 million of the Company's ADSs or common shares through the next twelve months. The Company's board of directors further approved extending the effective time of the Share Repurchase Program to May 31, 2025, and increasing the aggregate value of shares that the Company is authorized to repurchase from US$400 million to US$700 million. As of January 20, 2025, the Company had repurchased an aggregate of approximately 11.2 million ADSs for approximately US$542.8 million from the open market under this Share Repurchase Program.

Financial Results for the Second Fiscal Quarter Ended November 30, 2024

Net Revenues

For the second fiscal quarter of 2025, New Oriental reported net revenues of US$1,038.6 million, representing a 19.4% increase year over year. Net revenues, excluding revenues generated from East Buy private label products and livestreaming business, were US$894.2 million, representing a 31.3% increase year over year. The growth was mainly driven by the increase in the net revenues from our educational new business initiatives.

Operating Costs and Expenses

Operating costs and expenses for the quarter were US$1,019.4 million, representing a 20.2% increase year over year. Non-GAAP operating costs and expenses for the quarter, which exclude share-based compensation expenses, were US$1,011.1 million, representing a 23.5% increase year over year. The increase was primarily due to the cost and expenses related to the accelerated capacity expansion for educational businesses and newly integrated tourism-related business.

• Cost of revenues for the quarter increased by 17.9% year over year to US$498.3 million.
• Selling and marketing expenses for the quarter increased by 26.6% year over year to US$196.1 million.
• General and administrative expenses for the quarter increased by 20.0% year over year to US$324.9 million. Non-GAAP general and administrative expenses for the quarter, which exclude share-based compensation expenses, were US$319.4 million, representing a 24.7% increase year over year.

Total share-based compensation expenses for the quarter, which were allocated to related operating costs and expenses, decreased by 71.8% to US$8.3 million in the second fiscal quarter of 2025.

Operating Income and Operating Margin

Operating income for the quarter was US$19.3 million, representing a 9.8% decrease year over year. Non-GAAP income from operations for the quarter was US$27.6 million, representing a 45.8% decrease year over year.

Operating margin for the quarter was 1.9%, compared to 2.5% in the same period of the prior fiscal year. Non-GAAP operating margin for the quarter, which excludes share-based compensation expenses, for the quarter was 2.7%, compared to 5.9% 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$31.9 million, representing a 6.2% increase year over year. Basic and diluted net income per ADS attributable to New Oriental were US$0.20 and US$0.19, respectively.

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

Non-GAAP net income attributable to New Oriental for the quarter was US$35.5 million, representing a 29.1% decrease year over year. Non-GAAP basic and diluted net income per ADS attributable to New Oriental were US$0.22 and US$0.22, respectively.

Cash Flow

Net operating cash inflow for the second fiscal quarter of 2025 was approximately US$313.3 million and capital expenditures for the quarter were US$60.6 million.

Balance Sheet

As of November 30, 2024, New Oriental had cash and cash equivalents of US$1,418.2 million. In addition, the Company had US$1,443.2 million in term deposits and US$1,951.4 million in short-term investment.

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 second quarter of fiscal year 2025 was US$1,960.6 million, an increase of 19.2% as compared to US$1,645.0 million at the end of the second quarter of fiscal year 2024.

Financial Results for the Six Months Ended November 30, 2024

For the first six months of fiscal year 2025, New Oriental reported net revenues of US$2,474.1 million, representing a 25.6% increase year over year.

Operating income for the first six months of fiscal year 2025 was US$312.4 million, representing a 37.9% increase year over year. Non-GAAP operating income for the first six months of fiscal year 2025 was US$327.6 million, representing a 10.8% increase year over year.

Operating margin for the first six months of fiscal year 2025 was 12.6%, compared to 11.5% for the same period of the prior fiscal year. Non-GAAP operating margin for the first six months of fiscal year 2025, which excludes share-based compensation expenses, was 13.2%, compared to 15.0% for the same period of the prior fiscal year.

Net income attributable to New Oriental for the first six months of fiscal year 2025 was US$277.4 million, representing a 41.9% increase year over year. Basic and diluted net income per ADS attributable to New Oriental for the first six months of fiscal year 2025 amounted to US$1.69 and US$1.68, respectively.

Non-GAAP net income attributable to New Oriental for the first six months of fiscal year 2025 was US$300.3 million, representing a 25.4% increase year over year. Non-GAAP basic and diluted net income per ADS attributable to New Oriental for the first six months of fiscal year 2025 amounted to US$1.83 and US$1.82, respectively.

East Buy's Financial Highlights for the Six Months Ended November 30, 2024

New Oriental's subsidiary, East Buy Holding Limited ("East Buy"), a well-known private label products and livestreaming e-commerce platform in China listed on the Hong Kong Stock Exchange, announced its financial results under International Financial Reporting Standards ("IFRSs") for the first six months of fiscal year 2025. East Buy's financial information in this section is presented in accordance with IFRSs.

For the first six months ended November 30, 2024, East Buy recorded the total revenue from continuing operations of RMB2.2 billion (US$304.9 million), a 9.3% decrease from the revenue from continuing operations of RMB2.4 billion in the same period of the prior fiscal year, and recorded a net loss from continuing operations of RMB96.5 million (US$13.5 million), compared to a net profit from continuing operations of RMB160.7 million in the same period of the prior fiscal year. As there was the disposal of Time with Yuhui during the reporting period, if we excluded the financial impact from the disposal of Time with Yuhui, which are about the one-off expense incurred and profit generated by Time with Yuhui, the net profit from continuing operations was RMB32.7 million for the six months ended November 30, 2024. East Buy's gross profit from continuing operations was RMB735.1 million (US$102.5 million) and gross profit from continuing operations margin was 33.6% for the six months ended November 30, 2024.

The translations of RMB amounts into U.S. dollars in this section are presented solely for the convenience of the readers. The conversion of RMB into U.S. dollars is based on the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of November 30, 2024, which was RMB7.1706 to US$1.00. The percentages stated in this section are calculated based on the RMB amounts.

Outlook for the Third Quarter of the Fiscal Year 2025

New Oriental expects total net revenues, excluding revenues generated from East Buy private label products and livestreaming business, in the third quarter of the fiscal year 2025 (December 1, 2024 to February 28, 2025) to be in the range of US$1,007.3 million to US$1,032.5 million, representing year over year increase in the range of 18% to 21%. The projected increase of revenue in our functional currency Renminbi is expected to be in the range of 20% to 23% for the third quarter of the fiscal year 2025.

This forecast reflects New Oriental's current and preliminary view, which is subject to change.

Conference Call Information

New Oriental's management will host an earnings conference call at 8 AM on January 21, 2025, U.S. Eastern Time (9 PM on January 21, 2025, 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.vevent.com/register/BI41baa2efc73b4357814a196a50b55d82. It will automatically direct you to the registration page of "New Oriental FY2025 Q2 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/47p7vdrz first. The replay will be available until January 21, 2026.

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, and overseas study consulting services. 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 third quarter of fiscal year 2025, 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: our ability to effectively and efficiently manage changes of our existing business and new business; our ability to execute our 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; our ability to attract students without a significant increase in course fees; our ability to maintain and enhance our "New Oriental" brand; our ability to maintain consistent teaching quality throughout our school network, or service quality throughout our brand; our ability to achieve the benefits we expect 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 our 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 our 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 and gain (loss) from fair value change of investments, operating income excluding share-based compensation expenses, operating cost and expenses excluding share-based compensation expenses, general and administrative expenses excluding share-based compensation expenses, operating margin excluding share-based compensation expenses, and basic and diluted net income per ADS and per share excluding share-based compensation expenses and gain (loss) from fair value change of investments. 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 share-based compensation expenses and gain (loss) from fair value change of investments 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 share-based compensation charge and gain (loss) from fair value change of investments that has been and will continue to be for the foreseeable future a significant recurring expense in our 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                                                    Ms. Sisi Zhao
FTI Consulting                                                   New Oriental Education & Technology Group Inc.
Tel:        +852 3768 4548                                   Tel:         +86-10-6260-5568
Email:    [email protected]                  Email: [email protected]

Reconciliation between US GAAP and International Financial Reporting Standards

Deloitte Touche Tohmatsu was engaged by the company to conduct limited assurance engagement in accordance with Hong Kong Standard on Assurance Engagements 3000 (Revised) "Assurance Engagements Other Than Audits or Reviews of Historical Financial Information" ("HKSAE 3000 (Revised)") issued by the Hong Kong Institute of Certified Public Accountants (the "HKICPA") on the reconciliation of the condensed consolidated statement of operations for the six months ended November 30, 2024 and the condensed consolidated balance sheet as of November 30, 2024 of the company and its subsidiaries (collectively referred to as the "Group") between the accounting policies adopted by the Group of the relevant period in accordance with the accounting principles generally accepted in the United States of America (the "US GAAP") and the International Financial Reporting Standards (the "IFRSs") issued by the International Accounting Standards Board (together, the "Reconciliation").

The limited assurance engagement undertaken in accordance with HKSAE 3000 (Revised) involves performing procedures to obtain sufficient appropriate evidence about whether:         

• the related adjustments and reclassifications give appropriate effect to those criteria; and
• the Reconciliation reflects the proper application of the adjustments and reclassifications to the differences between the Group's accounting policies in accordance with the US GAAP and the IFRSs.

The procedures performed by Deloitte Touche Tohmatsu were based on their professional judgment, having regard to their understanding of the management's process on preparing the Reconciliation, nature, business performance and financial position of the Group. Given the circumstances of the engagement, the procedures performed included:

(i)      Comparing the "Amounts as reported under US GAAP" as of and for the six months ended November 30, 2024 in the Reconciliation as set out in the Appendix with the financial results as of and for the six months ended November 30, 2024 prepared in accordance with the US GAAP;

(ii)     Evaluating the assessment made by the board of directors in identifying the differences between the accounting policies in accordance with the US GAAP and the IFRSs, and the evidence supporting the adjustments and reclassifications made in the Reconciliation in arriving at the "Amounts as reported under IFRSs" in the Reconciliation as set out in the Appendix; and

(iii)    Checking the arithmetic accuracy of the computation of the Reconciliation as set out in the Appendix.

The procedures performed by Deloitte Touche Tohmatsu in this limited assurance engagement vary in nature and timing from, and are less in extent than for, a reasonable assurance engagement. Consequently, the level of assurance obtained in a limited assurance engagement is substantially lower than the assurance that would have been obtained had a reasonable assurance engagement been performed. Accordingly, Deloitte Touche Tohmatsu do not express a reasonable assurance opinion.

Based on the procedures performed and evidence obtained, Deloitte Touche Tohmatsu have concluded that nothing has come to their attention that causes them to believe that:

(I)    The "Amounts as reported under US GAAP" as of and for the six months ended November 30, 2024 in the Reconciliation as set out in the Appendix is not in agreement with the financial results as of and for the six months ended November 30, 2024 prepared in accordance with the US GAAP;

(ii)    The adjustments and reclassifications made in the Reconciliation in arriving at the "Amounts as reported under IFRSs" in the Reconciliation as set out in the Appendix, do not reflect, in all material respects, the different accounting treatments according to the Group's accounting policies in accordance with the US GAAP and the IFRSs of the relevant period; and

(iii)   The computation of the Reconciliation as set out in the Appendix is not arithmetically accurate.

Appendix

The consolidated financial statements are prepared in accordance with US GAAP, which differ in certain respects from IFRSs. The effects of material differences between the consolidated financial statements of the Group prepared under US GAAP and IFRSs are as follows:

5G FWA CPE供應商競爭力排名出爐：中興通訊斬獲第一，開創產業新高度

AI 賦能移動互聯創新，中興通訊問鼎5G FWA CPE全球競爭力榜首

深圳2025年1月21日 /美通社/ -- 近日，市場研究公司ABI Research發佈了《5G FWA CPE供應商競爭力排名》報告，中興通訊憑借5G FWA CPE領先的技術創新能力和全球市場卓越的市場表現斬獲排名第一，被評為整體領導者、頂級創新者和頂級實踐者，獲得國際權威機構的高度認可。

根據報告，ABI Research針對中興、華為、諾基亞等全球5G FWA CPE供應商的創新、實踐兩大維度進行綜合評估分析，中興通訊獲得兩項最高分，整體綜合得分問鼎榜首。依托持續的技術創新和商用部署，中興5G FWA&MBB已連續四年保持全球市占率第一。

AI驅動全新GIS 引領創新發展趨勢

在技術創新能力方面，基於中興Nebula AI 平台推出由AI驅動的全新GIS設計理念，該理念代表綠色（Green）、智能（Intelligence）和安全（Security）。全新GIS通過集成先進的AI技術，學習用戶行為，對超過4000種應用進行分類，從而優化網絡性能，提升帶寬效率20%，降低網絡擁堵30%。

全新GIS最突出的創新升級便是AI賦能的超級天線，憑借中興通訊自主研發的波束掃瞄與切換技術，即使在弱信號區域也能實現網絡速度大幅提升。安全上，全新GIS採用AI實時檢測阻斷非法數據、病毒及黑客攻擊等網絡威脅，同時提供兒童守護功能。更重要的是全新GIS包含基於AI的智能雲平台，助力運營商高效管理FWA和MBB 設備，減少現場支持需求，提升服務效率。

依托AI驅動的全新GIS，中興通訊推出了業界首款基於AI的FWA全棧解決方案，以及AI賦能的5G FWA系列產品。全球首款AI旗艦FWA設備中興G5 Ultra/Pro全面支持5G-Advanced和Wi-Fi7技術，支持SA+NSA雙模5G網絡，兼容全球5G和4G主流頻段，採用AI超級天線算法技術，能夠獨立選擇更優信號，提供更加穩定高速的網絡服務。

把握5G FWA市場前景 持續夯實「領導者」角色

除了領先的產品和技術創新能力，中興FWA&MBB在全球市場的商用表現同樣搶眼。目前，中興移動互聯終端業務涵蓋個人和家庭數據終端、行業定制數據終端、車聯網終端三大產品解決方案，擁有1000+項FWA&MBB領域專利，產品出貨量超過2.5億台，5G FWA解決方案已商用覆蓋35個國家150多家運營商。

中興通訊副總裁、移動互聯產品總經理白柯柯表示：「在5G驅動數字化變革過程中，FWA作為彌合數字鴻溝的重要驅動力，具備廣闊的市場前景，其年複合增長率將超過70%。中興通訊將持續挖掘AI在解決運營商和用戶需求方面的潛力，並且不斷優化GIS設計理念，推動5G FWA & MBB創新，並保持全球領先地位。」

在人工智能、5G-A等新興技術的無縫融合以及深入應用下，中興移動互聯終端業務將持續塑造連接的未來，提供更智能、更高效、更安全的連接解決方案，並為全球用戶提供豐富的智能生活體驗。

媒體垂詢：

中興通訊品牌部

Email: [email protected]

SHENZHEN, China, Jan. 21, 2025 /PRNewswire/ -- ZTE Corporation (0763.HK / 000063.SZ), a global leading provider of integrated information and communication technology solutions, has been recognized as the overall leader, top innovator, and top implementer in the 5G Fixed Wireless Access (FWA) CPE Vendor Competitive Assessment report released by ABI Research, a leading market analysis organization.

This accolade underscores ZTE's dominance in the 5G FWA market, highlighting its pioneering technological advancements and exceptional implementation strategies. ZTE has maintained its position as the global leader in the 5G FWA & MBB market for four consecutive years. This success is driven by its expansive presence in over 160 countries, 49 overseas service centers, a comprehensive product portfolio catering to diverse user scenarios, and an unwavering commitment to technological innovation.

"Innovation and customer-centric implementation are at the core of ZTE's strategy," said Bai Keke, Vice President of ZTE Corporation and General Manager of Mobile Internet, ZTE Mobile Devices. "Our leadership in 5G FWA reflects our commitment to harnessing cutting-edge technologies, such as AI, 5G-Advanced innovations, and Wi-Fi 7, to drive intelligent, seamless, and integrated connectivity for users worldwide."

ABI Research Highlights ZTE as Industry Leader in Innovation and Implementation in the Global FWA Market

ABI Research's 5G FWA CPE Vendor Competitive Assessment evaluated ten major 5G FWA CPE vendors based on innovation and implementation criteria. ZTE takes the top spot in both categories. According to ABI Research Industry Analyst Larbi Belkhit, "ZTE's success in creating a diverse portfolio that directly addresses customer needs and innovative use of AI for bandwidth utilization and high performance earned it the positions of Top Implementer and Top Innovator in our 5G FWA CPE Vendor Competitive Assessment."

The report recognized ZTE's technological leadership with innovations such as the industry's first AI-powered full-stack FWA solution, dynamic bandwidth allocation, and advanced antenna technology, all of which enhance connectivity in low-signal environments. ZTE's diverse product portfolio, ranging from entry-level to flagship models and covering applications for individuals, homes, vehicles, and IoT solutions, along with its strong global partnerships, further solidified its position as the industry leader.

ZTE has consistently pushed the boundaries of 5G FWA technology, setting new benchmarks with products such as the ZTE G5 Ultra, the world's first AI-powered 5G-Advanced flagship FWA device, which delivers peak data rates of up to 19Gbps. The G5 Ultra is equipped with tri-band Wi-Fi 7, a 13dBi smart beam-switching antenna, AI-driven antenna systems, intelligent QoS management, and built-in AI voice control. These features provide exceptional connectivity for high-demand applications such as gaming, streaming, and remote work.

ZTE's implementation capabilities further solidify its market leadership. The company's 5G FWA solutions are deployed by over 150 operators across 35 countries, including key markets in Europe, Asia-Pacific, the Middle East, and Latin America. Strategic partnerships with these operators have reinforced ZTE's reputation as a trusted partner. By catering to both consumer and enterprise segments, ZTE ensures its solutions address a wide range of connectivity needs.

Driving the Future of FWA with a New Product Philosophy: AI-Powered New GIS

Under its AI-powered new GIS product philosophy, ZTE integrates Green, Artificial intelligence, and Security into its 5G FWA solutions. This approach leverages advanced AI to optimize network performance by learning user behavior, improving bandwidth efficiency by 20%, and reducing congestion by 30%. ZTE's solutions also prioritize user safety with real-time AI-based threat detection and features like Child Guardianship, ensuring a safer online experience for families. The AI-based Smart Cloud Platform enhances operational efficiency by enabling remote device management, minimizing the need for on-site support. Additionally, ZTE's proprietary AI-powered Super Antenna boosts network speed and reliability, even in weak-signal environments, setting a new benchmark in FWA performance.

ZTE's recognition underscores its dedication to advancing 5G technology through continuous innovation and market-leading implementation. With nearly two decades of expertise, ZTE is committed to delivering smarter, more efficient networks, driving digital inclusion, and shaping the future of global connectivity.

MEDIA INQUIRIES:
ZTE Corporation
Communications
Email: [email protected] 

• ZTE has been awarded the EcoVadis Gold Medal for sustainability, ranking among the top 4% of companies assessed over the past 12 months
• Recognized for excellence in environment, labor & human rights, sustainable procurement, and ethics, ZTE continues its commitment to responsible corporate governance and sustainable practices

SHENZHEN, China, Jan. 21, 2025 /PRNewswire/ -- ZTE Corporation (0763.HK / 000063.SZ), a global leading provider of integrated information and communication technology solutions, has been awarded the prestigious Gold Medal in the EcoVadis 2024 Sustainability Performance Overview report.

This recognition places ZTE among the top 4% of companies assessed by EcoVadis over the past 12 months(96+ percentile) globally. Furthermore, ZTE ranks in the top 2% of companies within the Manufacture of Communication Equipment industry, reflecting its outstanding performance in sustainability. 

EcoVadis awards medals based on a company's percentile rank, with the Gold Medal recognizing those in the top 5% (95+ percentile). ZTE's exceptional performance places it among this elite group, underscoring its strong commitment to sustainable practices:

Environment: ZTE ranks in the top 7% of companies in the Manufacture of Communication Equipment industry, demonstrating its ongoing efforts to minimize environmental impact.

Labor & Human Rights: ZTE's performance in this area places it in the top 3% of companies, reflecting the company's dedication to ensuring fair labor practices and human rights standards.

Sustainable Procurement: ZTE's commitment to sourcing responsibly places it in the top 3% of assessed companies in this category.

Ethics: ZTE ranks in the top 3% in ethics, emphasizing its strong governance practices and dedication to transparency and integrity in business operations.

An EcoVadis medal or badge is an acknowledgement of achievement relative to other assessed companies across the EcoVadis database. It serves as a positive indicator of a company's commitment to sustainability management.

To celebrate the completion of this assessment, EcoVadis will be planting a tree on behalf of ZTE through its partnership with One Tree Planted.  

As a member of the United Nations Global Compact (UNGC) and the Global Enabling Sustainability Initiative (GeSI), ZTE has proactively released its sustainability report for 16 consecutive years since 2009. ZTE's achievements in sustainable development have been widely recognized.

ZTE is the first large-scale ICT company in China to receive dual targets approvals from Science Based Targets initiative (SBTi) while also making CDP A List. Additionally, the company has been included in the FTSE4Good Index Series for the ninth consecutive year and selected as a constituent of the Hang Seng Corporate Sustainability Index Series for the 13th year.

ZTE has further distinguished itself by winning two accolades at the 6th BDO ESG Awards 2024, namely the "Theme Award" and the "Outstanding ESG Performance of H-Share Companies" award. These recognitions demonstrate ZTE's ongoing commitment to advancing sustainable development through innovative practices and corporate responsibility.

The EcoVadis Gold Medal this time further strengthens ZTE's position as an industry leader, committed to fostering innovation while maintaining a strong focus on sustainability standards.

ABOUT ZTE:

ZTE helps to connect the world with continuous innovation for a better future. The company provides innovative technologies and integrated solutions, its portfolio spans all series of wireless, wireline, devices and professional telecommunications services. Serving over a quarter of the global population, ZTE is dedicated to creating a digital and intelligent ecosystem, and enabling connectivity and trust everywhere. ZTE is listed on both the Hong Kong and Shenzhen Stock Exchanges. www.zte.com.cn/global

FOLLOW US:

Facebook www.facebook.com/ZTECorp
X www.x.com/ZTEPress
LinkedIn www.linkedin.com/company/zte
YouTube www.youtube.com/@ZTECorporation

MEDIA INQUIRIES:

ZTE Corporation Communications
Email: [email protected]

中國深圳2025年1月21日 /美通社/ -- 近日，中興通訊憑借其在可持續發展方面的突出表現榮獲EcoVadis授予的「金牌」評級，躋身全球評級企業的前4%，並在所評估的通訊設備製造⾏業中，位列前2%。

EcoVadis根據公司的百分位排名授予獎牌，金獎授予排名前5%（95+百分位）的公司。EcoVadis獎牌或徽章是對企業在EcoVadis數據庫中相較於其他被評估企業所取得成就的認可，體現了企業在可持續發展管理方面的積極承諾和卓越表現。評級報告顯示，中興通訊在四大維度均表現出色：

• 環境：中興通訊在通信設備製造行業中排名前7%，彰顯了公司在減少環境影響方面的持續努力。
• 勞工與人權：中興通訊排名前3%，反映了公司在確保公平勞動實踐和人權標準方面的堅定承諾。
• 可持續採購：中興通訊致力於負責任的採購實踐，在該領域的評估中位列前3%。
• 商業道德：中興通訊排名前3%，體現了公司在治理實踐方面的優勢，以及在商業運營中對透明度和誠信的堅守。

為慶祝此次評估的成功完成，EcoVadis將通過與One Tree Planted的合作，代表中興通訊種下一棵樹。

作為聯合國全球契約組織（UNGC）和全球電子可持續發展倡議組織（GeSI）的成員，自 2009 年起，中興通訊已連續 16 年主動向社會發佈可持續發展報告。公司持續秉持「數字經濟築路者」的生態定位，堅持在全球範圍內貫徹可持續發展理念並屢獲國內外相關組織認可。中興通訊是國內首家通過SBTi兩項認證並獲評CDP氣候變化最高評級A級的大型ICT科技企業，連續多年參加聯合國氣候變化大會（COP大會），憑借其在綠色創新，利用5G和人工智能等技術推動數字經濟發展，彌合全球數字鴻溝等方面做出的卓越貢獻，公司榮膺2024年世界互聯網大會傑出貢獻獎。

此外，中興通訊九度蟬聯富時社會責任指數系列，並第十三年被選為恆生企業可持續發展指數系列的成分股，三年連續入選《財富》中國ESG影響力榜單，入選標普全球《可持續發展年鑒（中國版）2024》。在2024年第六屆 BDO ESG 獎評選中，中興通訊再創佳績，榮獲「主題大獎」和「ESG突出表現大獎 — H股公司」兩項殊榮。

此次榮獲EcoVadis金牌評級，進一步彰顯了中興通訊在推動科技創新的同時，始終致力於可持續發展的堅定承諾。

媒體垂詢：
中興通訊品牌部
Email: [email protected]  

Entering 2025, the global geopolitical and economic landscape remains complex and delicate, especially with the recently concluded US presidential election that will have a profound impact on global markets and risk assets, said Hou Wey Fook, DBS Bank's Chief Investment Officer.

With the Republican Party winning the Senate and the House of Representatives, the Donald Trump administration now has a clear mandate and significant power to push any policy agenda in Congress, whether it concerns tax cuts, climate change, or border security.

As a result, the market's widespread expectation of an impending economic recession and significant interest rate cuts by the Fed is no longer valid. Instead, as Trump aims to fulfill his policy promises of tax cuts and expansionary fiscal spending, the US macroeconomic momentum is anticipated to enter a high-speed development phase. Despite market optimism on growth, uncertainties still abound with Trump 2.0, while the market will focus on the fiscal sustainability of his policy plans and the potential for a trade war ignited by his proposed tariff hikes.

In response to Trump's expansionary policies, DBS adjusted its stock positions from Underweight to Neutral and continued to recommend adding US stock holdings. In terms of sectors, the team remained optimistic about US tech stocks due to their long-term growth potential and a beta value 1.4 times higher than the global stock market over the past decade. Investors can expect substantial returns with the new government's tax cuts and deregulation policies.
~



AAStocks Financial News
Web Site: www.aastocks.com

JD-SW (09618.HK) (JD.US) has launched a campaign, in which consumers can enjoy a national subsidy of up to 15% and an additional discount of up to RMB500 for buying Apple products such as iPhone, iPad, and Apple Watch, with individual prices under RMB6,000.

Specifically, consumers purchasing a MacBook can enjoy a national subsidy of up to 20% and an additional discount of up to RMB2,000.
~



AAStocks Financial News
Web Site: www.aastocks.com

HONG KONG, Jan. 20, 2025 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) today announces that Dongfang 29-1 Gas Field Development Project has commenced production.

The project is located in the Yinggehai Basin, with an average water depth of approximately 68 meters. The main production facilities include a new unmanned wellhead platform and a submarine pipeline. A total of 6 development wells are planned to be commissioned. The project is expected to achieve a peak production of 38 million cubic feet of natural gas per day in 2025.

The new unmanned wellhead platform of the project is constructed in a standardized and integrated manner. The equipment layout has been optimized to make efficient use of platform space and significantly reduce project investment. The oil and gas produced will be connected to the existing facilities of Dongfang gas fields through the submarine pipeline for processing. In recent years, CNOOC Limited has been continually tapping the resource potentials of the Yinggehai-Qiongdongnan Basin, to fully utilize the existing production facilities and thereby reduce the development cost of new projects.

The commissioning of Dongfang 29-1 will further release the production capacity of the Dongfang gas fields. The Company's offshore gas fields around Hainan Island will continue to provide clean, reliable and stable energy supply for the Island.

CNOOC Limited holds 100% interest in this project and is the operator.

— End —

Notes to Editors:

More information about the Company is available at http://www.cnoocltd.com.

*** *** *** ***

This press release includes forward looking information, including statements regarding the likely future developments in the business of the Company and its subsidiaries, such as expected future events, business prospects or financial results. The words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify such forward-looking statements. These statements are based on assumptions and analyses made by the Company as of this date in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that the Company currently believes are appropriate under the circumstances. However, whether actual results and developments will meet the current expectations and predictions of the Company is uncertain. Actual results, performance and financial condition may differ materially from the Company's expectations, including but not limited to those associated with macro-political and economic factors, fluctuations in crude oil and natural gas prices, the highly competitive nature of the oil and natural gas industry, climate change and environmental policies, the Company's price forecast, mergers, acquisitions and divestments activities, HSSE and insurance policies and changes in anti-corruption, anti-fraud, anti-money laundering and corporate governance laws and regulations.

Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements. The Company cannot assure that the results or developments anticipated will be realised or, even if substantially realised, that they will have the expected effect on the Company, its business or operations.

*** *** *** ***

For further enquiries, please contact:

Ms. Cui Liu
Media & Public Relations
CNOOC Limited
Tel: +86-10-8452-6641
Fax: +86-10-8452-1441
E-mail: [email protected] 

Mr. Bunny Lee
Porda Havas International Finance Communications Group
Tel: +852 3150 6707
Fax: +852 3150 6728
E-mail: [email protected] 

香港2025年1月20日 /美通社/ -- 中國海洋石油有限公司（「公司」或「中國海油」，香港聯交所股票代碼：00883（港幣櫃台）及80883（人民幣櫃台），上海證券交易所股票代碼：600938）今天宣佈東方29-1氣田開發項目已投產。

該項目位於鶯歌海海域，平均水深約68米，主要生產設施為新建1座無人井口平台和1條海底管道。計劃投產開發井6口，預計2025年將實現日產天然氣38百萬立方英呎的高峰產量。

該項目新建無人井口平台採用標準化、一體化模式建造，優化設備佈局，高效利用平台空間，顯著降低項目投資。項目生產的油氣將通過海底管道接入東方氣田群現有生產設施進行處理。近年來，中國海油持續在鶯瓊盆地挖潛增產，充分發揮在產油氣生產設施價值，降低新項目開發成本。

東方29-1氣田成功投產將進一步釋放東方氣田群天然氣產能，夯實公司環海南島海上氣田群能源供給能力，為海南島提供清潔、可靠、穩定的能源供應。

中國海油擁有該項目100%的權益，並擔任作業者。

— 完 —

編者注：

如需瞭解中國海洋石油有限公司更多信息，請登錄公司網站http://www.cnoocltd.com

*** *** *** *** 

本新聞稿包含公司的前瞻性資料，包括關於本公司和其附屬公司業務相當可能有的未來發展的聲明，例如預期未來事件、業務展望或財務結果。「預期」、「預計」、「繼續」、「估計」、「目標」、「持續」、「可能」、「將會」、「預測」、「應當」、「相信」、「計劃」、「旨在」等詞匯以及相似表達意在判定此類前瞻性聲明。這些聲明以本公司在此日期根據其經驗以及對歷史發展趨勢，目前情況以及預期未來發展的理解，以及本公司目前相信的其它合理因素所做出的假設和分析為基礎。然而，實際結果和發展是否能夠達到本公司的目前預期和預測存在不確定性。實際業績、表現和財務狀況可能與本公司的預期產生重大差異，這些因素包括但不限於宏觀政治及經濟因素、原油和天然氣價格波動有關的因素、石油和天然氣行業高競爭性的本質、氣候變化及環保政策因素、公司價格前瞻性判斷、併購剝離活動、HSSE及保險安排、以及反腐敗反舞弊反洗錢和公司治理相關法規變化。

因此，本新聞稿中所做的所有前瞻性聲明均受這些謹慎性聲明的限制。本公司不能保證預期的業績或發展將會實現，或者即便在很大程度上得以實現，本公司也不能保證其將會對本公司、其業務或經營產生預期的效果。

*** *** *** ***

如有進一步查詢，請聯絡：

劉  翠
媒體/公共關係
中國海洋石油有限公司
電話：+86-10-8452-6641
傳真：+86-10-8452-1441
電郵：[email protected]  

李耀榮
博達浩華國際財經傳訊集團
電話: +852 3150 6707
傳真: +852 3150 6728
電郵：[email protected]

Nvidia (NVDA.US) founder and CEO Jensen Huang said in his speech at a Chinese New Year's Eve party in Beijing that the company is employing nearly 4,000 people in Beijing, Shanghai and Shenzhen in combined, with the turnover rate of employees in mainland China being only 0.9%, marking the lowest in the world, China Business Network reported.

Talking about the development of AI, Huang said that the beginning of the new year is also the beginning of a new era of AI, which is no longer a kind of unimaginable technology in people's mind, but has entered into everyone's life.

He himself asks AI a lot of questions every day and lets AI be his teacher, said the CEO. In addition to education, AI will also change the fields of healthcare, retail, transportation and agriculture.
~



AAStocks Financial News
Web Site: www.aastocks.com