New Oriental buys green light education failed to demand return of bid price

(i) Beijing time October 18 New Oriental announced the unaudited results for the first quarter of fiscal year 2012 as at August 31, 2011.　　Earnings showed that total net revenue rose 41.4% to $272 million in the new Oriental quarter, with net profit rising 45.5% to 90.7 million dollars year-on-year. In the report, the new Oriental also disclosed that the company and August 24, 2010 acquired Shanghai's second-largest primary and secondary school English teaching institutions green light education 100% of the equity.　　But because green light education violates the relevant contract stipulation, the new Oriental has submitted the arbitration application to China international economic and Trade Arbitration Commission, requests the green light Education sale Party to return all buys to pay, the application was accepted in August 2011.　　For the sake of the principle of consistency, the new Oriental did not incorporate the performance of green light education into the report, the New Oriental Learning Center does not include the green light Education Learning Center.　　Green light Education in Shanghai has 21 teaching points, the number of trainees in 2009 more than 40,000. In the last quarter, the new Oriental also disclosed that in April 2011, the new Oriental will be held in the college Entrance Examination School "Ming Division Hall" shares sold to the school principal of teacher Mayonggang. This also means that the new Oriental hope that through mergers and acquisitions into the college entrance examination training attempt failed. April 2008 Acquisition of Beijing Ming Division school 60% shares into the college Entrance Examination training field. Share to: