Two Accounting Scandals in China in One Week Burn Investors [Yahoo! Finance News]
New Oriental Education & Technology Group, Inc. Sponsored ADR representing 1 Ordinary Share (Cayman Islands) (EDU)
Last new oriental education & technology group, inc. sponsored adr representing 1 ordinary share (cayman islands) earnings: 1/22 03:18 am
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Source: Yahoo! Finance News
) -- China’s second accounting scandal in less than a week is underscoring concern over lax corporate governance at some of the country’s fastest-growing companies.TAL Education Group, a tutoring business whose success turned founder Zhang Bangxin into one of China’s richest people, delivered the latest bombshell on Tuesday after saying a routine internal audit found an employee had inflated sales by forging contracts. The company’s American depositary receipts sank as much as 18% in late U.S. trading.The sell-off follows the 83% slump in Nasdaq-listed Luckin Coffee Inc. since the company announced that its chief operating officer and some underlings may have fabricated billions of yuan in sales for 2019. Accounting firm Ernst & Young later said it discovered the fabrications when it audited the firm’s financial statements. Trading in the ADRs was suspended Tuesday.While China Inc. is no stranger to claims of financial irregularities -- particularly from short sellers who have targete
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EDU
News
- New Oriental Education & Technology Group Inc. Announces Results of Annual General MeetingPR Newswire
- New Oriental Education & Technology Group (NYSE:EDU) was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating.MarketBeat
- New Oriental Education & Technology Group (NYSE:EDU) had its price target raised by analysts at JPMorgan Chase & Co. from $60.00 to $68.00. They now have an "overweight" rating on the stock.MarketBeat
- New Oriental Education & Technology Group (NYSE:EDU) had its "neutral" rating reaffirmed by analysts at The Goldman Sachs Group, Inc..MarketBeat
- New Oriental Announces Results for the First Fiscal Quarter Ended August 31, 2025PR Newswire
EDU
Earnings
- 10/28/25 - Miss
EDU
Sec Filings
- 11/21/25 - Form 6-K
- 11/14/25 - Form SCHEDULE
- 11/4/25 - Form SCHEDULE
- EDU's page on the SEC website