EDU New Question for New Oriental
On July 19 they wrote:"New Oriental stands firmly by its statement that all of the 664 schools and learning centers as of May 31, 2012 were, and are, its own ". While on October 1, 2012 they stated: "the Company does have ownership interests in its 55 schools and associated learning centers."
664-55= 609. So what about the rest 609 schools and centers???
See details as follows:
New Oriental Responds to the Muddy Waters Report on July 19, 2012:
“New Oriental had 664 Company owned and operated schools and learning centers as of May 31, 2012. The Muddy Waters report alleged that a significant number of these schools and learning centers were instead operated by franchisees, and that the Company consolidates these franchisees' results of operations and assets as though they were the Company's own. The Muddy Waters report is wrong. New Oriental stands firmly by its statement that all of the 664 schools and learning centers as of May 31, 2012 were, and are, its own.”
(Link: http://finance.yahoo.com/news/or ... port-130600824.html)
New Oriental Education Completes Review Of Recent Allegations; Says Finds No ‘Significant Evidence’ To Support Charges October 1, 2012
The company says: “The Special Committee’s work on the “franchise” issue uncovered no significant evidence that supports the Muddy Waters allegation mentioned above. The evidence collected indicates that the Company does have ownership interests in its 55 schools and associated learning centers. The activity related to the 21 third parties with whom New Oriental has entered into brand “cooperation agreements” is entirely separate, is immaterial, and in any event is properly accounted for in the Company’s financial statements. The Special Committee’s work on the tax issue uncovered no significant evidence that supports the Muddy Waters allegation mentioned above.”
(Link: http://blogs.barrons.com/emergin ... s/?mod=yahoobarrons) |
发表于 2012-10-3 12:43
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