FOSHAN, China, Aug. 4, 2022
/PRNewswire/ -- Bright Scholar Education Holdings Limited ("Bright
Scholar," the "Company," "we" or "our") (NYSE: BEDU), a global
premier education service company, today announced its unaudited
financial results for the third fiscal quarter of fiscal 2022 ended
May 31, 2022.
FINANCIAL PERFORMANCE HIGHLIGHTS
Third Fiscal
Quarter Ended May 31, 2022 Financial
Highlights
(in comparison to the same period
of the last fiscal year):
RMB in
million
Except EPS and
%
|
Third Fiscal
Quarter
Ended May 31,
2022
|
Third Fiscal
Quarter
Ended May 31,
2021
|
YoY
%
Change
|
Revenue
from continuing operations
|
437.5
|
362.4
|
20.7 %
|
Gross Profit
from continuing operations
|
135.4
|
52.4
|
158.2 %
|
Gross Margin from
continuing operations
|
30.9 %
|
14.5 %
|
16.4 %
|
Operating Income/(Loss)
from continuing operations
|
19.3
|
(70.1)
|
127.5 %
|
Operating Margin from
continuing operations
|
4.4 %
|
(19.3 %)
|
23.7 %
|
Income from
discontinued operations, net of tax
|
-
|
258.1
|
-
|
Net (Loss)/Income for
the quarter
|
(7.1)
|
163.9
|
(104.3 %)
|
|
|
|
|
Adjusted Gross
Profit from continuing operations
(1)
|
139.9
|
56.6
|
147.1 %
|
Adjusted Operating
Income/(Loss) from continuing
operations (2)
|
23.8
|
(65.3)
|
136.4 %
|
Adjusted Net
Loss(3) for the
quarter
|
(3.5)
|
(90.2)
|
96.1 %
|
Adjusted EBITDA
(4) for the
quarter
|
69.0
|
3.2
|
2,052.6 %
|
|
|
|
|
Basic and Diluted Loss
per Share from continuing operations
|
(0.08)
|
(0.73)
|
89.0 %
|
Basic and Diluted
Earnings per Share from discontinued operations
|
-
|
2.16
|
-
|
Adjusted Basic and
Diluted Loss per Share (5) for the quarter
|
(0.05)
|
(0.69)
|
92.8 %
|
Nine Months Ended May 31, 2022
Financial Highlights
(in comparison to the same period
of the last fiscal year):
RMB in
million
Except EPS and
%
|
Nine
Months
Ended May 31,
2022
|
Nine
Months
Ended May 31,
2021
|
YoY
%
Change
|
Revenue
from continuing operations
|
1,311.1
|
1,081.8
|
21.2 %
|
Gross Profit
from continuing operations
|
394.3
|
173.2
|
127.7 %
|
Gross Margin from
continuing operations
|
30.1 %
|
16.0 %
|
14.1 %
|
Operating Loss from
continuing operations
|
(3.7)
|
(185.7)
|
98.0 %
|
Operating Margin from
continuing operations
|
(0.3 %)
|
(17.2 %)
|
16.9 %
|
Income from
discontinued operations, net of tax
|
-
|
568.3
|
-
|
Net (Loss)/Income for
the period
|
(60.0)
|
312.4
|
(119.2 %)
|
|
|
|
|
Adjusted Gross
Profit from continuing operations
(1)
|
408.2
|
184.7
|
121.1 %
|
Adjusted Operating
Income/(Loss) from continuing
operations (2)
|
9.4
|
(172.2)
|
105.5 %
|
Adjusted Net
Loss (3) for the
period
|
(49.9)
|
(244.7)
|
79.6 %
|
Adjusted EBITDA
(4) for the period
|
196.7
|
(0.5)
|
42,300.6 %
|
|
|
|
|
Basic and Diluted Loss
per Share from continuing operations
|
(0.49)
|
(2.13)
|
77.0 %
|
Basic and Diluted
Earnings per Share from discontinued operations
|
-
|
4.74
|
-
|
Adjusted Basic and
Diluted Loss per Share (5) for the period
|
(0.41)
|
(2.04)
|
79.9 %
|
1. Adjusted gross
profit/(loss) from continuing operations is defined as gross
profit/(loss) from continuing operations excluding amortization of
intangible assets.
|
2. Adjusted operating
income/(loss) from continuing operations is defined as operating
income/(loss) from continuing operations excluding share-based
compensation expense and amortization of intangible
assets.
|
3. Adjusted net
income/(loss) is defined as net income/(loss) excluding share-based
compensation expense, amortization of intangible assets, tax effect
of amortization of intangible assets and income/(loss)
from discontinued operations, net of tax.
|
4. Adjusted EBITDA is
defined as net income/(loss) excluding interest income/(expense),
net, income tax expense/benefit; depreciation and amortization,
share-based compensation expense and income/(loss)
from discontinued operations, net of tax.
|
5. Adjusted basic and
diluted earnings/(loss) per share is defined as adjusted net
income/(loss) attributable to ordinary shareholders (net
income/(loss) attributable to ordinary shareholders excluding
share-
based compensation expense, amortization of intangible assets, tax
effect of amortization of intangible assets and income/(loss) from
discontinued operations, net of tax.) divided by the weighted
average
number of basic and diluted ordinary shares or American depositary
shares (each an "ADS"), each representing one Class A ordinary
share of the Company, on an as-converted basis.
|
|
For more information on
these adjusted financial measures, please see the section captioned
under "Non-GAAP Financial Measures" and the tables captioned
"Reconciliations of GAAP and Non-GAAP Results"
set forth at the end of this release.
|
Overseas Schools (CATS Global Schools)
CATS Global Schools include 4 Stafford House locations in UK, 4
CATS Colleges in US and UK, Cambridge School of Visual &
Performing Arts and 3 independent boarding schools in UK as of
May 31, 2022.
- Revenue amounted to RMB187.9
million, representing a 32.1% increase compared to
RMB142.3 million in the same fiscal
quarter last year, and accounted for 42.9% of the total revenue for
the third fiscal quarter.
- For the nine-month period, revenue amounted to RMB531.1 million, representing a 24.4% increase
compared to RMB427.1 million in the
same period of last fiscal year, and accounted for 40.5% of the
total revenue.
Complementary Education Services
The complementary education services business comprises language
training, overseas study counselling, career counselling, study
tour and camps as well as international contest training and
others.
- Revenue amounted to RMB138.0
million, compared to RMB147.5
million in the same fiscal quarter last year, and accounted
for 31.5% of the total revenue for the third fiscal quarter.
- For the nine-month period, revenue amounted to RMB456.9 million, representing a 3.1% increase
compared to RMB443.0 million for the
same period of last fiscal year, and accounted for 34.8% of the
total revenue.
Domestic Kindergartens & K-12 Operation Services
The domestic kindergartens & K-12 operation services
business comprises of for-profit kindergartens and operation
services for domestic K-12 schools including catering and
procurement services.
- Revenue amounted to RMB111.6
million, representing a 53.6% increase compared to
RMB72.6 million in the same fiscal
quarter last year, and accounted for 25.6% of the total revenue for
the third fiscal quarter.
- For the nine-month period, revenue amounted to RMB323.1 million, representing a 52.6% increase
compared to RMB211.7 million for the
same period of last fiscal year, and accounted for 24.7% of the
total revenue.
RECENT DEVELOPMENTS
On Repayment of Senior Notes
As of the earnings release date, Bright Scholar has redeemed all
of its outstanding senior notes matured (the "Redemption") on
July 31, 2022 (the "Maturity Date").
The redemption price included the principal amount of all
outstanding Senior Notes of US$223,984,000 and the interest of US$8,343,404 accrued till the day before the
Maturity Date. The redemption price paid by the Company on the
Maturity Date is US$232,327,404.
Upon completion of the Redemption, all the senior notes will be
cancelled and delisted from the official list of the Hong Kong
Stock Exchange.
On Going Private Proposal
On April 29, 2022, the Company
received a preliminary non-binding proposal letter (the "Proposal")
from its Chairperson of the board of directors (the "Board"), Ms.
Huiyan Yang, and Ms. Meirong Yang (collectively, the "Buyer Group")
proposing to acquire all of the outstanding Class A ordinary shares
of the Company (the "Class A Shares"), including Class A Shares
represented by American depositary shares (the "ADSs," each
representing one Class A ordinary share), and Class B ordinary
shares of the Company (the "Class B Shares," and together with the
Class A Shares, the "Shares") that are not beneficially owned by
the Buyer Group for a purchase price of US$0.83 per Share in cash in a going private
transaction (the "Proposed Transaction"), subject to certain
conditions.
On May 6, 2022, the Board
announced that it is has formed a special committee (the "Special
Committee") consisting of three independent directors, Mr.
Peter Andrew Schloss, Mr.
Jun Zhao and Mr. Ronald J. Packard, to evaluate and consider the
Proposal. Mr. Schloss chairs the Special Committee.
On July 21, 2022, the Special
Committee announced the appointment of Citigroup Global Markets
Asia Limited as independent financial advisor and Skadden, Arps,
Slate, Meagher & Flom LLP as legal counsel to the Special
Committee to assist it in the process of reviewing and evaluation
of the Proposal and any alternative strategic options that the
Company may pursue.
"Multiple market and segment performances reflect broad and
gradual resumption of its business momentum," said Mr. Jerry He, Executive Vice Chairman of Bright
Scholar. "For continuing operation in the quarter, we recorded a
20.7% growth in revenue and enhancement in operating margin from
(19.3%) to 4.4%, compared to the same quarter last fiscal year. On
the nine-month basis, top line revenue grew by 21.2%
year-over-year, with operating margin improved from (17.2%) to
(0.3%)."
Mr. He commented on the performance of overseas school business,
"The recovery of overseas business has started to gather momentum.
We are pleased to see more and more students back to campus,
as a result, our top line revenue increased 32.1% for the quarter
and 24.4% for the nine-month period. Our effective cost management
measures also yielded results with operating loss continued to
narrow."
"Despite the challenges amid the regional outbreak of pandemic
and travel restrictions, the effective COVID-19 containment
strategy continues to provide a conducive environment for business
recovery across China," commented
by Mr. Zi Chen, Chief Executive
Officer of Complementary Education Services. "In particularly, we
have been encouraged by the recovery of our overseas study
counselling, international contest training, and other quality
training business with respective revenue grew by 24.3%, 15.7% and
22.9% year-over-year on a nine-month basis, respectively. Camp
business also recorded a promising advanced bookings for summer
activities in our main camp sites in Zhejiang, Jiangxi and Guangdong. Our margin profile continues to
enhance as we focus on maintaining a competitive cost base to
respond to dynamic business environment and optimizing returns by
expanding our business portfolio."
"Our focus remains firmly on rebuilding our business revenues
and we are pleased with the progress," said Ms. Wanmei Li, Chief Executive Officer of Domestic
Kindergartens & K-12 Operation Services. "In the quarter,
revenue increased by 53.6%. On nine-month basis, revenue grew by
52.6%. The business and financial performance mainly attributed to
the expansion of catering services to the students of additional 7
schools and 7 kindergartens over the last nine months. As of the
end of May 2022, we had provided
catering services to the students in a total of 21 schools and 56
kindergartens."
Mr. He concluded, "Looking ahead, we will be vigilant to the
continued risks related to rising inflationary cost pressures,
COVID, geopolitical tensions, and regulatory changes that could
affect our businesses. The management team remains steadfast in its
commitment to rebuild our domestic business, further improve
operational efficiency through effective cost control, strengthen
business resilience through diversification and capitalize emerging
opportunities to speed up the pace of recovery."
UNAUDITED FINANCIAL RESULTS FOR THE THIRD FISCAL
QUARTER ENDED MAY 31,
2022
Revenue from Continuing Operations
Revenue for the quarter was RMB437.5
million, representing a 20.7% increase from RMB362.4 million for the same period of the last
fiscal year.
Overseas Schools: Revenue contribution for the
quarter was RMB187.9 million,
representing a 32.1% increase from RMB142.3 million for the same period of the last
fiscal year. The increase was mainly attributable to the recovery
of overseas schools' operation from pandemic.
Complementary Education Services: Revenue contribution
for the quarter was RMB138.0 million,
as compared to RMB147.5 million for
the same period of the last fiscal year. The decrease was mainly
attributable to the decrease in language training and study tour
and camp business.
Domestic Kindergartens & K-12 Operation
Services: Revenue contribution for the quarter was
RMB111.6 million, representing a
53.6% increase from RMB72.6 million
for the same period of the last fiscal year. The increase was
mainly attributable to the increase in catering services to the
students of K-12 schools.
We have continued to provide essential services without
recognizing any revenues relating to such activities to schools
provide compulsory education in our discontinued operations, which
are key to the normal daily operation of such schools.
Cost of Revenue from Continuing Operations
Cost of revenue for the quarter was RMB302.2 million, as
compared to RMB310.0 million for the same period last
fiscal year.
Gross Profit, Gross Margin and Adjusted Gross Profit from
Continuing Operations
Gross profit for the quarter was RMB135.4
million, representing a 158.2% increase from RMB52.4 million for the same period of
the last fiscal year. Gross margin increased to 30.9% from
14.5% for the same period of the last fiscal year.
Adjusted gross profit for the quarter was RMB139.9 million, representing a 147.1% increase
from RMB56.6 million for the same
period of the last fiscal year.
Selling, General and Administrative Expenses and
Adjusted SG&A Expenses from Continuing
Operations (6)
Total SG&A expenses for the quarter were RMB117.1 million, as compared to RMB129.2 million for the same period of
the last fiscal year.
Adjusted SG&A expenses for the quarter were RMB117.1 million, as compared to RMB128.5 million for the same period of
the last fiscal year.
6. Adjusted SG&A
expenses from continuing operations is defined as selling, general
and administrative expenses from continuing operations excluding
share-based compensation expense.
|
Operating Income/Loss, Operating Margin and Adjusted
Operating Income/Loss from Continuing Operations
Operating income for the quarter was RMB19.3 million, representing a 127.5% increase
from operating loss of RMB70.1
million for the same period of the last fiscal
year. Operating margin was 4.4% for the quarter, as compared
to (19.3%) for the same period of the last fiscal
year.
Adjusted operating income for the quarter was RMB23.8 million, representing a 136.4% increase
from adjusted operating loss of RMB65.3
million for the same period of the last fiscal
year.
Net (Loss)/Income and Adjusted Net
Loss
Net loss for the quarter was RMB7.1 million. Net income was
RMB163.9 million for the same period
of the last fiscal year, which includes net loss of
RMB94.2 million from continuing
operations and net income of RMB258.1
million from discontinued operations.
Adjusted net loss for the quarter was RMB3.5 million, as compared to adjusted net loss
of RMB90.2 for the same period of
the last fiscal year.
Net Loss per ordinary share/ADS and Adjusted Net Loss per
ordinary share/ADS
Basic and diluted net loss per ordinary share/ADS attributable
to ordinary shareholders/ADS holders from continuing operations for
the quarter were RMB0.08 and RMB0.08, respectively, as
compared to loss of RMB0.73 and
RMB0.73, respectively, for the same
period of the last fiscal year.
Adjusted basic and diluted net loss per ordinary share/ADS
attributable to ordinary shareholders/ADS holders for the quarter
were RMB0.05 and RMB0.05, respectively, as compared to
loss of RMB0.69 and RMB0.69, respectively, for the same period of
the last fiscal year.
Adjusted EBITDA
Adjusted EBITDA for the quarter was RMB69.0 million, as compared to RMB3.2 million for the same period of
the last fiscal year.
UNAUDITED FINANCIAL RESULTS FOR THE NINE
MONTHS ENDED MAY 31,
2022
Revenue from Continuing Operations
Revenue for the period was RMB1,311.1
million, representing a 21.2% increase from RMB1,081.8 million for the same period of the
last fiscal year.
Overseas Schools: Revenue contribution for the
period was RMB531.1 million,
representing a 24.4% increase from RMB427.1 million for the same period of the last
fiscal year. The increase was mainly attributable to the recovery
of overseas schools operation from pandemic.
Complementary Education Services: Revenue contribution
for the period was RMB456.9 million.
It represented a 3.1% increase from RMB443.0
million for the same period of the last fiscal year. The
increase was mainly attributable to the recovery of overseas study
counselling business, expansion of international contest business,
and other quality education training.
Domestic Kindergartens & K-12 Operation
Services: Revenue contribution for the period was
RMB323.1 million, representing a
52.6% increase from RMB211.7 million
for the same period of the last fiscal year. The increase was
mainly due to an increase in catering services to the students at
K-12 schools and management and operation services for
kindergartens.
We have continued to provide essential services without
recognizing any revenues relating to such activities to schools
that provide compulsory education in our discontinued operations,
which are key to the normal daily operation of such schools.
Cost of Revenue from Continuing Operations
Cost of revenue for the period was RMB916.7 million, as
compared to RMB908.6 million for the same period last
fiscal year.
Gross Profit, Gross Margin and Adjusted Gross Profit from
Continuing Operations
Gross profit for the period was RMB394.3
million, representing a 127.7% increase from RMB173.2 million for the same period of
the last fiscal year. Gross margin increased to 30.1% from
16.0% for the same period of the last fiscal year.
Adjusted gross profit for the period was RMB408.2 million, representing a 121.1% increase
from RMB184.7 million for the same
period of the last fiscal year.
Selling, General and Administrative Expenses and
Adjusted SG&A Expenses from Continuing Operations
Total SG&A expenses for the period were RMB402.1 million, as compared to RMB377.4 million for the same period of
the last fiscal year.
Adjusted SG&A expenses for the period were RMB402.9 million, as compared to RMB375.3 million for the same period of
the last fiscal year.
Operating Loss, Operating Margin and Adjusted Operating
Income/Loss from Continuing Operations
Operating loss for the period was RMB3.7
million, representing a 98.0% decrease in loss from
operating loss of RMB185.7 million
for the same period of the last fiscal year. Operating
margin was (0.3%) for the period, as compared to (17.2%) for the
same period of the last fiscal year.
Adjusted operating income for the period was RMB9.4 million, representing a 105.5% increase
from adjusted operating loss of RMB172.2
million for the same period of the last fiscal
year.
Net (Loss)/Income and Adjusted Net
Loss
Net loss for the period was RMB60.0 million. Net income was
RMB312.4 million for the same period
of the last fiscal year, which includes net loss of
RMB255.9 million from continuing
operations and net income of RMB568.3
million from discontinued operations.
Adjusted net loss for the period was RMB49.9 million, as compared to adjusted net loss
of RMB244.7 for the same period of
the last fiscal year.
Net Loss per ordinary share/ADS and Adjusted Net Loss per
ordinary share/ADS
Basic and diluted net loss per ordinary share/ADS attributable
to ordinary shareholders/ADS holders from continuing operations for
the period were RMB0.49 and RMB0.49, respectively, as
compared to loss of RMB2.13 and
RMB2.13, respectively, for the same
period of the last fiscal year.
Adjusted basic and diluted net loss per ordinary share/ADS
attributable to ordinary shareholders/ADS holders for the period
were RMB0.41 and RMB0.41, respectively, as compared to
loss of RMB2.04 and RMB2.04, respectively, for the same period of
the last fiscal year.
Adjusted EBITDA
Adjusted EBITDA for the period was RMB196.7 million, as compared to adjusted EBITDA
loss of RMB0.5 million for the same
period of the last fiscal year.
Cash and Working Capital
As of May 31, 2022, the Company's
cash and cash equivalents and restricted cash were RMB1,371.6 million (US$205.6 million), as compared to RMB1,492.6 million as of February 28, 2022. The company also had
short-term investments of RMB1,234.8
million (US$185.1 million) as of May 31, 2022.
CONVENIENCE TRANSLATION
The Company's reporting currency is Renminbi ("RMB"). However,
periodic reports made to shareholders will include current period
amounts translated into U.S. dollars using the
prevailing exchange rates at the balance sheet date, for the
convenience of readers. Translations of balances in the
condensed consolidated balance sheets, and the related
condensed consolidated statements of operations, and cash
flows from RMB into U.S. dollars as of and for the quarter and
nine-month ended May 31, 2022 are
solely for the convenience of the readers and were calculated at
the rate of US$1.00=RMB6.6715, representing the noon buying rate set
forth in the H.10 statistical release of the U.S. Federal Reserve
Board on May 31, 2022. No
representation is made that the RMB amounts could have been, or
could be, converted, realized or settled into US$ at that rate on
May 31, 2022 or at any other
rate.
NON-GAAP FINANCIAL MEASURES
In evaluating our business, we consider and use certain non-GAAP
measures, including primarily adjusted EBITDA, adjusted net
income/(loss), adjusted gross profit/(loss), adjusted SG&A
expenses, adjusted operating income/(loss), adjusted net
earnings/(loss) per share attributable to ordinary shareholders
basic and diluted as supplemental measures to review and
assess our operating performance. 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 U.S. GAAP. We define adjusted
gross profit/(loss) from continuing operations as gross
profit/(loss) from continuing operations excluding amortization of
intangible assets. We define adjusted EBITDA as net income/(loss)
excluding interest income/(expense), net, income tax
expense/benefit, depreciation and amortization, share-based
compensation expense and income/(loss) from discontinued
operations, net of tax. We define adjusted net income/(loss)
as net income/(loss) excluding share-based compensation expense,
amortization of intangible assets, tax effect of amortization of
intangible assets and income/(loss) from discontinued
operations, net of tax. We define adjusted SG&A expenses from
continuing operations as selling, general and administration
expense from continuing operations excluding share-based
compensation expense. We define adjusted operating income/(loss)
from continuing operations as net operating income/(loss) from
continuing operations excluding share-based compensation expense
and amortization of intangible assets. Additionally, we define
adjusted net earnings/(loss) per share attributable to ordinary
shareholders, basic and diluted, as adjusted net income/(loss)
attributable to ordinary shareholders (net income/(loss) to
ordinary shareholders excluding share-based compensation expense,
amortization of intangible assets, tax effect of amortization of
intangible assets and income/(loss) from discontinued
operations, net of tax) divided by the weighted average
number of basic and diluted ordinary shares or American depositary
shares, each representing one Class A ordinary share of the
Company, on an as-converted basis.
We incur amortization expense of intangible assets related to
various acquisitions that have been made in recent years. These
intangible assets are valued at the time of acquisition and are
then amortized over a period of several years after the
acquisition. We believe that exclusion of these expenses allows
greater comparability of operating results that are consistent over
time for the Company's newly-acquired and long-held business as the
related intangibles do not have significant connection to the
growth of the business. Therefore, we provide exclusion of
amortization of intangible assets to define adjusted gross profit
from continuing operations, adjusted operating income/(loss) from
continuing operations, adjusted net income/(loss), and adjusted net
earnings/(loss) per share attributable to ordinary shareholders,
basic and diluted. In addition, due to the impact of the amended
Implementation Regulations of the Law on the Promotion of Private
Education of the People's Republic of
China (the "Implementation Rules"), the Affected
Entities(7) deconsolidated is classified as discontinued
operations, which is a non-recurring item. The exclusion
facilitates comparisons of our operating performance on a
period-to-period basis. Therefore, we provide exclusion of
income/(loss) from discontinued operations, net of tax, to define
adjusted net income/(loss), adjusted EBITDA, adjusted net
earnings/(loss) per share attributable to ordinary shareholders,
basic and diluted.
We present the non-GAAP financial measures because they are used
by our management to evaluate our operating performance and
formulate business plans. Such non-GAAP measures include adjusted
EBITDA, adjusted net income/(loss), adjusted gross
profit/(loss) from continuing operations, adjusted SG&A
expenses from continuing operations, adjusted operating
income/(loss) from continuing operations, adjusted net
earnings/(loss) per share attributable to ordinary shareholders
basic and diluted. Non-GAAP financial measures enable our
management to assess our operating results without considering the
impact of non-cash charges, including depreciation and amortization
and share-based compensation expense, and without considering the
impact of non-operating items such as interest income/(expense),
net; income tax expense/benefit; share-based compensation
expense; amortization of intangible assets, tax effect of
amortization of intangible assets, and without considering the
impact of non-recurring item, i.e. income/(loss) from discontinued
operations. We also believe that the use of these non-GAAP measures
facilitates investors' assessment of our operating performance.
The non-GAAP financial measures are not defined under U.S. GAAP
and are not presented in accordance with U.S. GAAP. The non-GAAP
financial measures have limitations as analytical tools. One of the
key limitations of using these non-GAAP financial measures is that
they do not reflect all items of income and expense that affect our
operations. Interest income/(expense), net; income tax
expense/benefit; depreciation and amortization; share-based
compensation expense; tax effect of amortization of intangible
assets; and income/(loss) from discontinued operations, have
been and may continue to be incurred in our business and are not
reflected in the presentation of these non-GAAP measures, including
adjusted EBITDA or adjusted net income/(loss). Further, these
non-GAAP measures may differ from the non-GAAP information used by
other companies, including peer companies, and therefore their
comparability may be limited.
7. Affected Entities
refers to private schools, entities holding such private schools as
well as other enterprises within China that are affected by the
Implementation Rules effective on September 1,
2021.
|
About Bright Scholar Education Holdings
Limited
Bright Scholar is a global premier education service company,
which primarily provides quality international education to global
students and equip them with the critical academic foundation and
skillsets necessary to succeed in the pursuit of higher education.
Bright Scholar also complements its international offerings with
Chinese government-mandated curriculum for students who wish to
maintain the option of pursuing higher education in China.
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements include,
without limitation, the Company's business plans and development,
which can be identified by terminology such as "may," "will,"
"expect," "anticipate," "aim," "estimate," "intend," "plan,"
"believe," "potential," "continue," "is/are likely to" or other
similar expressions. Such statements are based upon management's
current expectations and current market and operating conditions
and relate to events that involve known or unknown risks,
uncertainties and other factors, all of which are difficult to
predict and many of which are beyond the Company's control, which
may cause the Company's actual results, performance or achievements
to differ materially from those in the forward-looking statements.
Further information regarding these and other risks, uncertainties
or factors is included in the Company's filings with the U.S.
Securities and Exchange Commission. The Company does not undertake
any obligation to update any forward-looking statement as a result
of new information, future events or otherwise, except as required
under law.
IR Contact:
GCM Strategic
Communications
Email: BEDU.IR@gcm.international
Media
Contact:
Email: media@brightscholar.com
Phone: +86-757-6683-2507
BRIGHT SCHOLAR
EDUCATION HOLDINGS LIMITED
|
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS
|
(Amounts in
thousands)
|
|
|
|
|
|
|
|
|
|
|
|
As of
|
|
|
|
August
31,
|
|
May
31,
|
|
|
|
2021
|
|
2022
|
|
|
|
RMB
|
|
RMB
|
|
USD
|
ASSETS
|
|
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
844,684
|
|
759,848
|
|
113,895
|
|
|
Restricted
cash
|
669,029
|
|
610,092
|
|
91,447
|
|
|
Short-term
investments(1)
|
-
|
|
1,234,799
|
|
185,086
|
|
|
Accounts receivable,
net
|
41,723
|
|
21,197
|
|
3,177
|
|
|
Amounts due from
related parties, net
|
15,087
|
|
305,489
|
|
45,790
|
|
|
Other receivables,
deposits and other assets, net
|
81,119
|
|
115,790
|
|
17,356
|
|
|
Inventories
|
7,579
|
|
6,727
|
|
1,008
|
|
|
Amount due from
affected entities(2), net
|
2,028,866
|
|
-
|
|
-
|
|
Total current
assets
|
3,688,087
|
|
3,053,942
|
|
457,759
|
|
|
Restricted cash - non
current
|
1,450
|
|
1,650
|
|
247
|
|
|
Property and equipment,
net
|
519,452
|
|
397,853
|
|
59,635
|
|
|
Intangible assets,
net
|
485,822
|
|
452,491
|
|
67,824
|
|
|
Goodwill,
net
|
1,950,186
|
|
1,887,082
|
|
282,857
|
|
|
Long-term
investments
|
75,443
|
|
80,001
|
|
11,991
|
|
|
Prepayment for
construction contract
|
5,974
|
|
1,738
|
|
260
|
|
|
Deferred tax assets,
net
|
64,096
|
|
131,832
|
|
19,760
|
|
|
Other non-current
assets, net
|
68,217
|
|
12,360
|
|
1,856
|
|
|
Operating lease
right-of-use assets
|
1,773,773
|
|
1,625,440
|
|
243,639
|
|
Total non-current
assets
|
4,944,413
|
|
4,590,447
|
|
688,069
|
TOTAL
ASSETS
|
8,632,500
|
|
7,644,389
|
|
1,145,828
|
|
|
|
|
|
|
|
|
1. As of May 31, 2022,
all short-term investments principal are guaranteed by a related
party of the Company.
|
2. The Affected
Entities were deconsolidated on August 31, 2021, and became the
related parties of the Company since September 1,
2021.
|
BRIGHT SCHOLAR
EDUCATION HOLDINGS LIMITED
|
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS-CONTINUED
|
(Amounts in
thousands)
|
|
|
|
|
|
|
|
|
|
|
|
As of
|
|
|
|
August
31,
|
|
May
31,
|
|
|
|
2021
|
|
2022
|
|
|
|
RMB
|
|
RMB
|
|
USD
|
LIABILITIES AND
EQUITY
|
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
|
Accounts payable
(including accounts
payable of the consolidated VIEs
without recourse to Bright Scholar
of RMB 10,941 and RMB 13,627
as of August 31, 2021 and May 31,
2022, respectively)
|
73,411
|
|
103,580
|
|
15,526
|
|
|
Amounts due to related
parties
(including amounts due to related
parties of the consolidated VIEs
without recourse to Bright Scholar
of RMB 5,641 and RMB 336,319
as of August 31, 2021 and May 31,
2022, respectively)
|
40,445
|
|
461,379
|
|
69,157
|
|
|
Accrued expenses and
other current
liabilities (including accrued
expenses and other current
liabilities of the consolidated VIEs
without recourse to Bright Scholar
of RMB 13,876 and RMB 21,210
as of August 31, 2021 and May 31,
2022, respectively)
|
234,036
|
|
297,540
|
|
44,597
|
|
|
Short term loan
(including short term
loan of the consolidated VIEs
without recourse to Bright Scholar
of RMB nil and RMB nil as of
August 31, 2021 and May 31, 2022,
respectively)
|
753,754
|
|
480,000
|
|
71,948
|
|
|
Bond payable (including
bond payable
of the consolidated VIEs without
recourse to Bright Scholar of RMB
nil and RMB nil as of August 31,
2021 and May 31, 2022,
respectively)
|
1,836,362
|
|
1,492,044
|
|
223,644
|
|
|
Income tax payable
(including income
tax payable of the consolidated
VIEs without recourse to Bright
Scholar of RMB 19,091 and RMB
17,321 as of August 31, 2021 and
May 31, 2022, respectively)
|
178,213
|
|
123,480
|
|
18,509
|
|
|
Contract liabilities
(including contract
liabilities of the consolidated VIEs
without recourse to Bright Scholar
of RMB 139,126 and RMB
116,060 as of August 31, 2021 and
May 31, 2022, respectively)
|
425,954
|
|
344,941
|
|
51,704
|
|
|
Refund liabilities
(including refund
liabilities of the consolidated VIEs
without recourse to Bright Scholar
of RMB 10,398 and RMB 8,553 as
of August 31, 2021 and May 31,
2022, respectively)
|
32,362
|
|
19,384
|
|
2,906
|
|
|
Operating lease
liabilities (including
operating lease liabilities of the
consolidated VIEs without recourse
to Bright Scholar of RMB 12,005
and RMB 22,555 as of August 31,
2021 and May 31, 2022,
respectively)
|
123,215
|
|
112,260
|
|
16,827
|
|
|
Amounts due to affected
entities
(including Amounts due to affected
entities of the consolidated VIEs
without recourse to Bright Scholar
of RMB 276,378 and RMB nil as
of August 31, 2021 and May 31, 2022,
respectively)
|
333,270
|
|
-
|
|
-
|
|
Total current
liabilities
|
4,031,022
|
|
3,434,608
|
|
514,818
|
|
|
Contract liabilities –
non current
(including contract liabilities – non
current of the consolidated VIEs
without recourse to Bright Scholar
of RMB 1,084 and RMB 1,040 as
of August 31, 2021 and May 31,
2022, respectively)
|
1,421
|
|
2,419
|
|
363
|
|
|
Deferred tax
liabilities, net (including
deferred tax liabilities of the
consolidated VIEs without recourse
to Bright Scholar of RMB 9,561
and RMB 10,134 as of August 31,
2021 and May 31, 2022,
respectively)
|
26,744
|
|
23,006
|
|
3,448
|
|
|
Other non-current
liabilities due to
related parties (including non-
current liabilities due to related
parties of the consolidated VIEs
without recourse to Bright Scholar
of RMB 13,154 and RMB 11,019
as of August 31, 2021 and May 31,
2022, respectively)
|
13,154
|
|
11,019
|
|
1,651
|
|
|
Long term loan
(including long term
loan of the consolidated VIEs
without recourse to Bright Scholar
of RMB nil and RMB nil as of
August 31, 2021 and May 31, 2022,
respectively)
|
616
|
|
631
|
|
95
|
|
|
Operating lease
liabilities – non current
(including operating lease liabilities
– non current of the consolidated
VIEs without recourse to Bright
Scholar of RMB 83,475 and RMB
74,891 as of August 31, 2021 and
May 31, 2022, respectively)
|
1,752,667
|
|
1,592,818
|
|
238,750
|
|
Total non-current
liabilities
|
1,794,602
|
|
1,629,893
|
|
244,307
|
TOTAL
LIABILITIES
|
5,825,624
|
|
5,064,501
|
|
759,125
|
EQUITY
|
|
|
|
|
|
|
|
|
Share
capital
|
8
|
|
8
|
|
1
|
|
|
Additional paid-in
capital
|
1,727,020
|
|
1,693,358
|
|
253,820
|
|
|
Statutory
reserves
|
2,531
|
|
14,873
|
|
2,229
|
|
|
Accumulated other
comprehensive
income
|
168,324
|
|
74,435
|
|
11,158
|
|
|
Accumulated retained
earnings
|
648,944
|
|
578,335
|
|
86,687
|
|
Shareholders'
equity
|
2,546,827
|
|
2,361,009
|
|
353,895
|
|
Non-controlling
interests
|
260,049
|
|
218,879
|
|
32,808
|
|
Total
equity
|
2,806,876
|
|
2,579,888
|
|
386,703
|
TOTAL LIABILITIES
AND EQUITY
|
8,632,500
|
|
7,644,389
|
|
1,145,828
|
BRIGHT SCHOLAR
EDUCATION HOLDINGS LIMITED
|
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS
|
(Amounts in
thousands, except for shares and per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended May 31,
|
|
Nine Months
Ended May 31,
|
|
2021
|
|
2022
|
|
2021
|
|
2022
|
|
RMB
|
|
RMB
|
|
USD
|
|
RMB
|
|
RMB
|
|
USD
|
Continuing
operations
|
|
|
|
|
|
|
|
|
|
|
|
Revenue
|
362,446
|
|
437,549
|
|
65,585
|
|
1,081,759
|
|
1,311,054
|
|
196,516
|
Cost of
revenue
|
(310,007)
|
|
(302,158)
|
|
(45,291)
|
|
(908,562)
|
|
(916,742)
|
|
(137,412)
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit
|
52,439
|
|
135,391
|
|
20,294
|
|
173,197
|
|
394,312
|
|
59,104
|
Selling, general and
administrative expenses
|
(129,180)
|
|
(117,122)
|
|
(17,556)
|
|
(377,374)
|
|
(402,068)
|
|
(60,267)
|
Other operating
income
|
6,625
|
|
1,002
|
|
150
|
|
18,461
|
|
4,087
|
|
613
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
(loss)/income
|
(70,116)
|
|
19,271
|
|
2,888
|
|
(185,716)
|
|
(3,669)
|
|
(550)
|
Interest expense,
net
|
(51,554)
|
|
(26,364)
|
|
(3,952)
|
|
(122,363)
|
|
(110,747)
|
|
(16,600)
|
Investment
income
|
39,321
|
|
28,155
|
|
4,220
|
|
87,406
|
|
107,109
|
|
16,055
|
Other
expenses
|
(948)
|
|
926
|
|
139
|
|
(7,102)
|
|
(5,229)
|
|
(785)
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss before income
taxes and share of equity in loss of
unconsolidated affiliates
|
(83,297)
|
|
21,988
|
|
3,295
|
|
(227,775)
|
|
(12,536)
|
|
(1,880)
|
Income tax
expense
|
(10,786)
|
|
(28,949)
|
|
(4,339)
|
|
(27,512)
|
|
(47,252)
|
|
(7,083)
|
Share of equity in loss
of unconsolidated affiliates
|
(156)
|
|
(121)
|
|
(18)
|
|
(608)
|
|
(232)
|
|
(35)
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from continuing
operations
|
(94,239)
|
|
(7,082)
|
|
(1,062)
|
|
(255,895)
|
|
(60,020)
|
|
(8,998)
|
|
|
|
|
|
|
|
|
|
|
|
|
Discontinued
operations
|
|
|
|
|
|
|
|
|
|
|
|
Income from
discontinued operations, net of tax
|
258,143
|
|
-
|
|
-
|
|
568,284
|
|
-
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
income/(loss)
|
163,904
|
|
(7,082)
|
|
(1,062)
|
|
312,389
|
|
(60,020)
|
|
(8,998)
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss)/income
attributable to non-controlling interests
|
|
|
|
|
|
|
|
|
|
|
|
Continuing
operations
|
(7,621)
|
|
1,857
|
|
278
|
|
(1,253)
|
|
(1,753)
|
|
(264)
|
Discontinued
operations
|
1,173
|
|
-
|
|
-
|
|
1,696
|
|
-
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss)/ income
attributable to ordinary
shareholders
|
|
|
|
|
|
|
|
|
|
|
|
Continuing
operations
|
(86,618)
|
|
(8,939)
|
|
(1,340)
|
|
(254,642)
|
|
(58,267)
|
|
(8,734)
|
Discontinued
operations
|
256,970
|
|
-
|
|
-
|
|
566,588
|
|
-
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss)/earnings
per share attributable to
ordinary shareholders
|
|
|
|
|
|
|
|
|
|
|
—Basic
|
|
|
|
|
|
|
|
|
|
|
|
Continuing
operations
|
(0.73)
|
|
(0.08)
|
|
(0.01)
|
|
(2.13)
|
|
(0.49)
|
|
(0.07)
|
Discontinued
operations
|
2.16
|
|
-
|
|
-
|
|
4.74
|
|
-
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
—Diluted
|
|
|
|
|
|
|
|
|
|
|
|
Continuing
operations
|
(0.73)
|
|
(0.08)
|
|
(0.01)
|
|
(2.13)
|
|
(0.49)
|
|
(0.07)
|
Discontinued
operations
|
2.16
|
|
-
|
|
-
|
|
4.74
|
|
-
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
shares used in
calculating net (loss)/earnings per ordinary
share:
|
|
|
|
|
|
|
|
|
|
|
|
—Basic
|
|
|
|
|
|
|
|
|
|
|
|
Continuing
operations
|
119,162,036
|
|
118,669,795
|
|
118,669,795
|
|
119,300,151
|
|
118,706,830
|
|
118,706,830
|
Discontinued
operations
|
119,162,036
|
|
-
|
|
-
|
|
119,300,151
|
|
-
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
—Diluted
|
|
|
|
|
|
|
|
|
|
|
|
Continuing
operations
|
119,162,036
|
|
118,669,795
|
|
118,669,795
|
|
119,300,151
|
|
118,706,830
|
|
118,706,830
|
Discontinued
operations
|
119,162,036
|
|
-
|
|
-
|
|
119,300,151
|
|
-
|
|
-
|
BRIGHT SCHOLAR
EDUCATION HOLDINGS LIMITED
|
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS
|
(Amounts in
thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
May 31,
|
|
Nine Months Ended
May 31,
|
|
2021
|
|
2022
|
|
2021
|
|
2022
|
|
RMB
|
|
RMB
|
|
USD
|
|
RMB
|
|
RMB
|
|
USD
|
Net cash (used in)/
generated from operating
activities
|
(200,367)
|
|
321,060
|
|
48,124
|
|
(143,962)
|
|
(64,556)
|
|
(9,676)
|
Net cash used in
investing activities
|
(307,578)
|
|
(20,750)
|
|
(3,110)
|
|
(2,520,180)
|
|
(1,202,394)
|
|
(180,228)
|
Net cash generated
from/(used in) financing
activities
|
118,089
|
|
(479,033)
|
|
(71,803)
|
|
22,168
|
|
1,102,803
|
|
165,301
|
Effect of exchange rate
changes on cash
|
(40,493)
|
|
57,693
|
|
8,647
|
|
(113,873)
|
|
20,574
|
|
3,082
|
Net change in cash and
cash equivalents,
and restricted cash
|
(430,349)
|
|
(121,030)
|
|
(18,142)
|
|
(2,755,847)
|
|
(143,573)
|
|
(21,521)
|
Cash and cash
equivalents, and restricted cash
at beginning of the period
|
2,098,439
|
|
1,492,620
|
|
223,731
|
|
4,423,937
|
|
1,515,163
|
|
227,110
|
Cash and cash
equivalents, and restricted cash
at end of the period
|
1,668,090
|
|
1,371,590
|
|
205,589
|
|
1,668,090
|
|
1,371,590
|
|
205,589
|
BRIGHT SCHOLAR
EDUCATION HOLDINGS LIMITED
|
Reconciliations of
GAAP and Non-GAAP Results
|
(Amounts in thousands,
except for shares and per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
May 31,
|
|
Nine Months Ended
May 31,
|
|
|
2021
|
|
2022
|
|
2021
|
|
2022
|
|
|
RMB
|
|
RMB
|
|
USD
|
|
RMB
|
|
RMB
|
|
USD
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit from
continuing operations
|
52,439
|
|
135,391
|
|
20,294
|
|
173,197
|
|
394,312
|
|
59,104
|
|
Add: Amortization of
intangible assets
|
4,174
|
|
4,523
|
|
678
|
|
11,459
|
|
13,883
|
|
2,081
|
Adjusted gross
profit from continuing operations
|
56,613
|
|
139,914
|
|
20,972
|
|
184,656
|
|
408,195
|
|
61,185
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
(loss)/income from continuing operations
|
(70,116)
|
|
19,271
|
|
2,888
|
|
(185,716)
|
|
(3,669)
|
|
(550)
|
|
Add: Share-based
compensation expense
|
662
|
|
-
|
|
-
|
|
2,032
|
|
(816)
|
|
(122)
|
|
Add: Amortization of
intangible assets
|
4,174
|
|
4,523
|
|
678
|
|
11,459
|
|
13,883
|
|
2,081
|
Adjusted operating
(loss)/income from continuing
operations
|
(65,280)
|
|
23,794
|
|
3,566
|
|
(172,225)
|
|
9,398
|
|
1,409
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
income/(loss)
|
163,904
|
|
(7,082)
|
|
(1,062)
|
|
312,389
|
|
(60,020)
|
|
(8,998)
|
|
Add: Share-based
compensation expense
|
662
|
|
-
|
|
-
|
|
2,032
|
|
(816)
|
|
(122)
|
|
Add: Amortization of
intangible assets
|
4,174
|
|
4,523
|
|
678
|
|
11,459
|
|
13,883
|
|
2,081
|
|
Add: Tax effect of
amortization of intangible assets
|
(838)
|
|
(958)
|
|
(144)
|
|
(2,314)
|
|
(2,953)
|
|
(443)
|
|
Less: Income from
discontinued operations, net of tax
|
258,143
|
|
-
|
|
-
|
|
568,284
|
|
-
|
|
-
|
Adjusted net
loss
|
(90,241)
|
|
(3,517)
|
|
(528)
|
|
(244,718)
|
|
(49,906)
|
|
(7,482)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income/(loss)
attributable to ordinary shareholders
|
170,352
|
|
(8,939)
|
|
(1,340)
|
|
311,946
|
|
(58,267)
|
|
(8,734)
|
|
Add: Share-based
compensation expense
|
662
|
|
-
|
|
-
|
|
2,032
|
|
(816)
|
|
(122)
|
|
Add: Amortization of
intangible assets
|
4,174
|
|
4,523
|
|
678
|
|
11,459
|
|
13,883
|
|
2,081
|
|
Add: Tax effect of
amortization of intangible assets
|
(838)
|
|
(958)
|
|
(144)
|
|
(2,314)
|
|
(2,953)
|
|
(443)
|
|
Less: Income from
discontinued operations, net of tax
|
256,970
|
|
-
|
|
-
|
|
566,588
|
|
-
|
|
-
|
Adjusted net loss
attributable to ordinary shareholders
|
(82,620)
|
|
(5,374)
|
|
(806)
|
|
(243,465)
|
|
(48,153)
|
|
(7,218)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
income/(loss)
|
163,904
|
|
(7,082)
|
|
(1,062)
|
|
312,389
|
|
(60,020)
|
|
(8,998)
|
|
Add: Interest expense,
net
|
51,554
|
|
26,364
|
|
3,952
|
|
122,363
|
|
110,747
|
|
16,600
|
|
Add: Income tax
expense
|
10,786
|
|
28,949
|
|
4,339
|
|
27,512
|
|
47,252
|
|
7,083
|
|
Add: Depreciation and
amortization
|
34,442
|
|
20,760
|
|
3,112
|
|
103,522
|
|
99,492
|
|
14,913
|
|
Add: Share-based
compensation expense
|
662
|
|
-
|
|
-
|
|
2,032
|
|
(816)
|
|
(122)
|
|
Less: Income from
discontinued operations, net of tax
|
258,143
|
|
-
|
|
-
|
|
568,284
|
|
-
|
|
-
|
Adjusted
EBITDA
|
3,205
|
|
68,991
|
|
10,341
|
|
(466)
|
|
196,655
|
|
29,476
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general and
administrative expenses from
continuing operations
|
129,180
|
|
117,122
|
|
17,556
|
|
377,374
|
|
402,068
|
|
60,267
|
|
Less: Share-based
compensation expense
|
662
|
|
-
|
|
-
|
|
2,032
|
|
(816)
|
|
(122)
|
Adjusted selling,
general and administrative expenses
from continuing operations
|
128,518
|
|
117,122
|
|
17,556
|
|
375,342
|
|
402,884
|
|
60,389
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
shares used
in calculating adjusted net loss per ordinary
share:
|
|
|
|
|
|
|
|
|
—Basic and Diluted
|
|
|
|
|
|
|
|
|
|
|
|
Continuing
operations
|
119,162,036
|
|
118,669,795
|
|
118,669,795
|
|
119,300,151
|
|
118,706,830
|
|
118,706,830
|
Discontinued
operations
|
119,162,036
|
|
-
|
|
-
|
|
119,300,151
|
|
-
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted net loss
per share attributable
to ordinary shareholders
|
|
|
|
|
|
|
|
|
|
|
|
—Basic
|
(0.69)
|
|
(0.05)
|
|
(0.01)
|
|
(2.04)
|
|
(0.41)
|
|
(0.06)
|
—Diluted
|
(0.69)
|
|
(0.05)
|
|
(0.01)
|
|
(2.04)
|
|
(0.41)
|
|
(0.06)
|
View original
content:https://www.prnewswire.com/news-releases/bright-scholar-announces-unaudited-financial-results-for-the-third-fiscal-quarter-of-fiscal-2022-301599955.html
SOURCE Bright Scholar Education Holdings Ltd.