Announcement • Aug 21
NYSE to Commence Delisting Proceedings Against Meta Data Limited The New York Stock Exchange (“NYSE”, the “Exchange”) announced that the staff of NYSE Regulation has determined to commence proceedings to delist the American depositary shares (“ADSs”), each ADS representing ten Class A ordinary shares, of Meta Data Limited (the “Company”) — ticker symbol AIU — from the NYSE. Trading in the Company’s ADSs will be suspended immediately. NYSE Regulation reached its decision that the Company is no longer suitable for listing pursuant to NYSE Listed Company Manual Section 802.01D, after the Company’s August 19, 2024 press release disclosure regarding the fact that the Company was ordered to be wound up by the Grand Court of the Cayman Islands on August 7, 2024, with the liquidation representing a formal insolvency process. Additionally, NYSE Regulation noted that acquisitions and disposals of the Company’s shares subject to this winding up from August 7, 2024 are only permissible subject to the provision of a validation order from the Cayman Islands Court, on request of the Company’s liquidators. In reaching its delisting determination, NYSE Regulation noted the uncertainty as to the ultimate effect of this process and these trading restrictions on the Company’s ADSs. The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the ADSs upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision. Buy Or Sell Opportunity • Aug 05
Now 33% undervalued Over the last 90 days, the stock has risen 37% to US$3.36. The fair value is estimated to be US$5.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 68% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment improves as stock rises 98% After last week's 98% share price gain to US$4.56, the stock trades at a trailing P/E ratio of 66.6x. Average trailing P/E is 22x in the Consumer Services industry in the US. Total loss to shareholders of 93% over the past three years. New Risk • Jul 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended August 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (170% increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported August 2023 fiscal period end). Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (US$74.1m market cap). New Risk • Apr 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (327% increase in shares outstanding). Minor Risk Share price has been volatile over the past 3 months (10% average weekly change). Buy Or Sell Opportunity • Apr 01
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 29% to US$0.73. The fair value is estimated to be US$0.93, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 68% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Mar 14
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 25% to US$0.75. The fair value is estimated to be US$0.96, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 68% over the last 3 years. Meanwhile, the company has become profitable. New Risk • Aug 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Negative equity (-US$54m). Earnings have declined by 41% per year over the past 5 years. Shareholders have been substantially diluted in the past year (427% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (US$76.1m market cap). New Risk • Jul 03
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended August 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Negative equity (-CN¥5.4b). Earnings have declined by 59% per year over the past 5 years. Shareholders have been substantially diluted in the past year (290% increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported August 2022 fiscal period end). Revenue is less than US$5m (CN¥15m revenue, or US$2.0m). Market cap is less than US$100m (US$60.9m market cap). Reported Earnings • Jan 01
Full year 2022 earnings released: CN¥34.37 loss per share (vs CN¥754 loss in FY 2021) Full year 2022 results: CN¥34.37 loss per share (improved from CN¥754 loss in FY 2021). Net loss: CN¥380.9m (loss narrowed 92% from FY 2021). Board Change • Nov 16
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Director Mengchu Zhou is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Aug 24
First half 2022 earnings released: EPS: CN¥0 (vs CN¥51.33 loss in 1H 2021) First half 2022 results: EPS: CN¥0 (up from CN¥51.33 loss in 1H 2021). Net loss: CN¥326.0m (loss narrowed 1.7% from 1H 2021). Reported Earnings • May 24
Full year 2021 earnings: Revenues miss analyst expectations Full year 2021 results: Revenue: CN¥3.42b (flat on FY 2020). Net loss: CN¥4.99b (loss widened CN¥4.26b from FY 2020). Revenue missed analyst estimates by 4.1%. Board Change • Apr 27
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Director Mengchu Zhou is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Feb 03
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Director Mengchu Zhou is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Jan 27
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. 1 highly experienced director. Founder, Chairman & CEO Steve Zhang is the most experienced director on the board, commencing their role in 2008. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Jan 11
OneSmart International Education Receives Notification from NYSE Regarding Delayed Form 20-F Filing OneSmart International Education Group Limited ("OneSmart" or the "Company") announced that it received a notice from NYSE Regulation indicating that the Company is not in compliance with Section 802.01E of the NYSE Listed Company Manual as a result of its failure to timely file its Annual Report on Form 20-F for the year ended August 31, 2021 (the "2021 Form 20-F") with the Securities and Exchange Commission (the "SEC"). The Company was not able to file the 2021 Form 20-F by December 30, 2021. The delay is primarily due to the change in the Company's independent registered public accounting firm for the fiscal year ended August 31, 2021, as previously announced on January 5, 2022 in a 6-K report. The Company is making all efforts to file the 2021 Form 20-F as soon as possible. NYSE Regulation notified the Company that the NYSE will closely monitor the status of the Company's late filing and related public disclosures for up to a six-month period from the due date of the annual report. If theCompany fails to file its annual report and any subsequent delayed filings within six months from the filing due date, the NYSE may, in its sole discretion, allow the Company's securities to trade for up to an additional six months depending on specific circumstances, as outlined in Section 802.01E of the NYSE Listed Company Manual. It is expected by the NYSE that the Company will submit an official request for NYSE's consideration at the appropriate time. If the NYSE determines that an additional six-month trading period is not appropriate, suspension and delisting procedures will commence pursuant to Section 804.00 of the NYSE Listed Company Manual. The notice has no immediate impact on the listing of the Company's ADSs, which will continue to be listed and traded on the NYSE during the cure period subject to continued compliance with the other listing requirements of the NYSE. Announcement • Aug 05
OneSmart International Education Group Announces Receipt of NYSE Non-Compliance Letter Regarding ADS Trading Price OneSmart International Education Group Limited announced that, it has received a letter from the New York Stock Exchange (the "NYSE") dated August 3, 2021, notifying OneSmart that it is below compliance criteria in connection with the performance of trading price of OneSmart's American depositary shares (the "ADSs"). Pursuant to NYSE rule 802.01C, a company will be considered to be below compliance criteria if the average closing price of a security as reported on the consolidated tape is less than $1.00 over a consecutive 30 trading-day period. Once notified, the company must bring its share price and average share price back above $1.00 by six months following receipt of the notification. The company can regain compliance at any time during the six-month cure period if on the last trading day of any calendar month during the cure period the company has a closing share price of at least $1.00 and an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month. In the event that at the expiration of the six-month cure period, both a $1.00 closing share price on the last trading day of the cure period and a $1.00 average closing share price over the 30 trading-day period ending on the last trading day of the cure period are not attained, the NYSE will commence suspension and delisting procedures. To address this issue, the Company intends to monitor the market conditions of its listed securities and is still considering its options. Reported Earnings • May 17
Second quarter 2021 earnings released: CN¥1.07 loss per share (vs CN¥0.10 loss in 2Q 2020) The company reported a soft second quarter result with increased losses and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: CN¥931.6m (up 5.2% from 2Q 2020). Net loss: CN¥172.0m (loss widened CN¥155.6m from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 47% per year whereas the company’s share price has fallen by 42% per year. Announcement • May 14
OneSmart International Education Group Limited Provides Revenue Outlook for the Third Quarter and Full Year of Fiscal 2021 OneSmart International Education Group Limited provided revenue outlook for the third quarter and full year of fiscal 2021. based on the latest estimates, the company expects to generate net revenues of RMB 950 million to RMB 1.0 billion for the third quarter of fiscal year 2021, representing 27.5% to 34.2% increase year over year.
The company expects the full year net revenues to reach above the pre-COVID fiscal year 2019 level. However, this outlook represents OneSmart's current view, which is subject to change. Executive Departure • Apr 11
Independent Director has left the company On the 9th of April, Zhe Wei's tenure as Independent Director ended after 3.0 years in the role. As of December 2020, Zhe personally held 3.57m shares (US$14m worth at the time). Zhe is the only executive to leave the company over the last 12 months. Analyst Estimate Surprise Post Earnings • Mar 01
Revenue in line with expectations Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 30%, compared to a 42% growth forecast for the Consumer Services industry in the US. Reported Earnings • Feb 24
First quarter 2021 earnings released The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: CN¥684.8m (down 14% from 1Q 2020). Net loss: CN¥159.6m (loss widened 77% from 1Q 2020). Is New 90 Day High Low • Feb 13
New 90-day high: US$4.44 The company is up 11% from its price of US$4.00 on 13 November 2020. The American market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Services industry, which is up 21% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$0.000011 per share. Announcement • Feb 10
OneSmart International Education Group Limited to Report Q1, 2021 Results on Feb 23, 2021 OneSmart International Education Group Limited announced that they will report Q1, 2021 results Pre-Market on Feb 23, 2021 Is New 90 Day High Low • Jan 14
New 90-day low: US$3.60 The company is down 19% from its price of US$4.44 on 15 October 2020. The American market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Services industry, which is down 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$0.000011 per share. Analyst Estimate Surprise Post Earnings • Jan 06
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 0.8%. Earnings per share (EPS) also surpassed analyst estimates by 379%. Over the next year, revenue is forecast to grow 37%, compared to a 34% growth forecast for the Consumer Services industry in the US. Reported Earnings • Jan 03
Full year 2020 earnings released: CN¥4.53 loss per share The company reported a poor full year result with weaker earnings, revenues and control over expenses. Full year 2020 results: Revenue: CN¥3.44b (down 14% from FY 2019). Net loss: CN¥729.8m (down 397% from profit in FY 2019). Is New 90 Day High Low • Dec 15
New 90-day low: US$3.78 The company is down 17% from its price of US$4.53 on 15 September 2020. The American market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Services industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$1.37 per share. Is New 90 Day High Low • Nov 28
New 90-day low: US$3.82 The company is down 9.0% from its price of US$4.18 on 28 August 2020. The American market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Services industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$1.13 per share. Reported Earnings • Nov 25
Full year 2020 earnings released: CN¥4.50 loss per share The company reported a poor full year result with weaker earnings, revenues and control over expenses. Full year 2020 results: Revenue: CN¥3.44b (down 14% from FY 2019). Net loss: CN¥724.8m (down 395% from profit in FY 2019). Announcement • Nov 14
OneSmart International Education Group Limited to Report Q4, 2020 Results on Nov 23, 2020 OneSmart International Education Group Limited announced that they will report Q4, 2020 results at 9:00 AM, China Standard Time on Nov 23, 2020 Announcement • Aug 06
OneSmart International Education Group Limited Announces Reopening of Its Nationwide Learning Centers OneSmart International Education Group Limited announced that it has reopened more than 90% of its nationwide learning centers, including OneSmart VIP, HappyMath and FasTrack English. OneSmart continues to take appropriate measures to protect the health and safety of all of its employees and students during this time. Students in cities including Beijing, Urumqi, etc. affected by the resurgence of COVID-19 will continue to have access to OneSmart Online to facilitate their ongoing education until further notice. OneSmart VIP cash sales in July increased by 29% year-over-year, nearly in line with the year-over-year growth rate between September 2019 through January 2020, the first five months of fiscal year 2020 and prior to the coronavirus outbreak in China. In July 2020, OneSmart VIP's renewal rate was 37%, and referral rate was 31%, which were both higher compared with July 2019. These positive results were due to the Company's continuous efforts to improve the customer experience and personalize learning for each individual student. Announcement • Jul 31
OneSmart International Education Group Limited to Report Q3, 2020 Results on Aug 18, 2020 OneSmart International Education Group Limited announced that they will report Q3, 2020 results at 9:00 AM, China Standard Time on Aug 18, 2020