New Oriental Education & Tech Grp (EDU.N): 4QFY26 First Take: Rev Beats Guide by ~5pp; One-off Trims NP; FY27 Guide of +14-18%

Research evidence excerpt

New Oriental Education & Tech Grp (EDU.N): 4QFY26 First Take: Rev Beats Guide by ~5pp; One-off Trims NP; FY27 Guide of +14-18%

New Oriental Education & Tech Grp (EDU.N)

29 July 2026 Citi Research

The Firm has made a market in the publicly traded equity securities of East Buy Holding Ltd on at least one occasion since 1 Jan

2025.

The Firm has made a market in the publicly traded equity securities of New Oriental Education & Technology Group Inc on at

least one occasion since 1 Jan 2025.

Citigroup Global Markets Inc. or its affiliates received compensation for products and services other than investment banking

services from East Buy Holding,New Oriental Education & Tech Grp in the past 12 months.

Citigroup Global Markets Inc. or its affiliates currently has, or had within the past 12 months, the following as clients, and the

services provided were non-investment-banking, securities-related: East Buy Holding,New Oriental Education & Tech Grp.

services provided were non-investment-banking, non-securities-related: East Buy Holding,New Oriental Education & Tech

Grp.

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activities and services intended to benefit the investor clients of Citigroup Global Markets Inc. and its affiliates (the “Firm”).

Compensation is not linked to specific transactions or recommendations. Like all Firm employees, analysts receive

compensation that is impacted by overall Firm profitability which includes investment banking, sales and trading, and

principal trading revenues. One factor in equity research analyst compensation is arranging corporate access events between

institutional clients and the management teams of covered companies. Typically, company management is more likely to