NEW ORIENTAL-S 09901·

Gross margin ----------------43.51%--52.98%9.48%52.45%0.53%398.36%345.91%54.64%343.73% Net margin 12.14%--7.36%4.79%9.92%2.56%-----39.30%--7.85%47.15%7.54%0.31%7.67%0.13%9.13%1.46% ROE 14.87%--10.08%4.78%15.12%5.04%-----32.05%--4.92%36.97%8.20%3.28%10.15%1.95%---- ROA 7.47%--4.90%2.57%5.41%0.51%-----20.22%--3.68%23.90%4.32%0.64%4.81%0.50%---- Revenue growth ----26.52%--15.57%10.95%--------2.65%--44.44%41.79%-84.02%128.46%687.64%771.66% Attributable profit growth -----19.61%--73.62%93.23%--------115.88%--75.23%40.64%-83.11%158.34%771.51%854.62% Debt-to-assets 44.32%--45.66%1.33%56.23%10.58%----37.14%--40.32%3.19%46.24%5.92%49.35%3.11%---- Current ratio 1.68--1.730.051.520.21----2.62--1.960.661.800.171.580.22---- Operating cash flow / net profit 2.63--3.540.912.271.27----1.05--4.133.083.450.672.391.071.990.40 Operating cash flow / revenue 31.92%--26.02%5.90%22.48%3.54%-----41.24%--32.39%73.63%26.03%6.37%18.30%7.73%18.14%0.15%

Net margin 16.25%------15.10%1.15% Revenue growth --------23.08%-- Attributable profit growth --------13.47%-- Debt-to-assets ----50.81%--48.03%-- Current ratio ----1.50--1.61-- Operating cash flow / net profit 0.78------0.690.09 Operating cash flow / revenue 12.63%------10.42%2.20%

Revenue 2.45B--3.10B26.52%3.58B15.57%----20.68B--21.23B2.65%30.66B44.44%4.90B84.02%38.60B687.64% Other income and gains 94.06M--10.31M89.03%88.83M761.20%----------------118.21M--76.69M35.13% Cost of sales 1.07B--1.38B29.14%1.59B15.45%----------------2.18B--2.57B17.63% Gross profit ----------------9.00B--11.25B25.01%16.08B42.99%19.52B21.36%21.09B8.03% Selling and distribution expenses 324.25M--384.29M18.52%445.26M15.87%----3.11B--3.15B1.27%4.70B49.11%783.96M83.31%5.83B644.29% Administrative expenses 794.48M--1.03B30.15%1.15B10.78%----12.43B--6.75B45.68%8.90B31.75%1.44B83.77%10.87B652.34% Net finance costs ----------------26.98M--5.01M81.44%2.12M57.69%-------- Income tax 59.41M--85.71M44.28%134.36M56.76%----907.93M--467.89M48.47%779.76M66.66%146.29M81.24%1.34B813.92% Operating profit 262.96M--305.53M16.19%399.00M30.59%-----6.54B--1.35B120.57%2.49B85.08%428.25M82.81%4.39B924.03% Share of associates and JVs -379.00K---2.29M503.96%1.39M160.51%-----------------14.26M---17.78M24.69% Profit before tax 357.02M--315.85M11.53%487.84M54.45%-----7.22B--2.13B129.57%3.09B44.83%3.75B21.34%4.86B29.54% Net profit 297.24M--227.85M23.35%354.86M55.75%-----8.13B--1.67B120.51%2.31B38.70%375.83M83.74%3.52B837.22% Net profit attributable to owners 296.13M--238.06M19.61%413.33M73.62%-----7.91B--1.26B115.88%2.20B75.23%371.72M83.11%3.24B771.51%

Revenue 1.52B------1.87B23.08% Other income and gains 20.61M------15.32M25.68% Cost of sales 637.79M------816.97M28.09% Selling and distribution expenses 200.58M------262.16M30.70% Administrative expenses 373.78M------420.71M12.55% Income tax 91.54M------105.15M14.87% Operating profit 310.83M------374.66M20.54% Share of associates and JVs -158.00K------79.00K150.00% Net profit 247.52M------283.08M14.37% Net profit attributable to owners 240.72M------273.16M13.47%

Cash and cash equivalents 983.32M--1.41B43.82%915.06M35.29%----7.65B--11.78B53.94%9.88B16.14%1.61B83.67%---- Trade and bills receivables 3.18M--3.30M3.81%4.18M26.61%--------234.23M--211.05M9.90%33.63M84.07%---- Inventories 40.17M--29.05M27.70%31.32M7.84%----186.00M--373.15M100.62%659.74M76.80%80.88M87.74%---- Total current assets 2.94B--3.47B17.82%3.76B8.37%----29.80B--31.26B4.90%38.31B22.55%5.19B86.46%---- Total assets 3.98B--4.65B16.81%6.56B41.11%----40.20B--45.27B12.63%53.54B18.27%7.81B85.42%---- Total current liabilities 1.75B--2.01B14.58%2.48B23.58%----11.39B--15.94B39.95%21.33B33.82%3.29B84.58%---- Total liabilities 1.76B--2.12B20.33%3.69B73.80%----14.93B--18.26B22.29%24.76B35.62%3.85B84.44%---- Equity attributable to owners 1.99B--2.36B18.53%2.73B15.78%----24.68B--25.53B3.42%26.84B5.16%3.66B86.36%---- Total equity 2.01B--2.53B25.75%2.87B13.65%----25.27B--27.02B6.92%28.78B6.54%3.95B86.26%----

Cash and cash equivalents ----1.82B--1.75B-- Trade and bills receivables ----36.99M--41.62M-- Inventories ----105.80M--113.75M-- Total current assets ----5.83B--5.92B-- Total assets ----8.79B--8.86B-- Total current liabilities ----3.89B--3.68B-- Total liabilities ----4.47B--4.26B-- Equity attributable to owners ----3.99B--4.24B-- Total equity ----4.32B--4.60B--

Net cash from operating activities 781.13M--805.65M3.14%804.46M0.15%-----8.53B--6.88B180.63%7.98B16.05%896.59M88.77%7.00B680.98% Net cash from investing activities -407.14M---574.71M41.16%-1.26B118.61%----7.78B---264.95M103.40%-8.20B2996.07%-93.43M98.86%-3.12B3239.92% Net cash from financing activities -74.88M--266.65M456.10%-17.86M106.70%-----1.54B---1.75B13.70%-1.14B34.77%-584.97M48.71%-2.59B343.05% Net change in cash 342.10M--431.46M26.12%-498.80M215.61%-----2.91B--4.33B248.43%-1.54B135.54%228.03M114.83%1.90B735.22%

Net cash from operating activities 192.32M------195.39M1.60% Net cash from investing activities -451.71M-------178.86M60.40% Net cash from financing activities -29.43M-------167.68M469.67% Net change in cash -276.49M-------143.08M48.25%