Earnings Labs

Four Seasons Education (Cayman) Inc. (FEDU)

Q1 2020 Earnings Call· Sat, Aug 3, 2019

$10.21

-2.48%

Key Takeaways · AI generated
AI summary not yet generated for this transcript. Generation in progress for older transcripts; check back soon, or browse the full transcript below.
Transcript

Operator

Operator

Good day, ladies and gentlemen. Thank you for standing by for the Four Seasons Education's First Quarter Fiscal Year 2020 Earnings Conference Call. [Operator instructions] Today's conference call is being recorded.I will now turn the conference over to your host, Ms. Olivia Li, Investor Relations Manager for the company. Please go ahead.

Olivia Li

Analyst

Hello, everyone, and welcome to First Quarter Fiscal Year 2020 Earnings Conference of Four Seasons Education. The company's results were issued via Newswire services earlier today and are posted online. You can download the earnings press release and sign up for the company's e-mail distribution list by visiting the IR section of our Web site at ir.sijiedu.com.Mr. Peiqing Tian, our Chairman and Chief Executive Officer, will start the call by providing an overview of the company and performance highlights of the quarter in Chinese. Ms. Joanne Zuo, our Director and Chief Financial Officer, will provide English interpretation of CEO remarks and then provide details on the company's financial results and business outlook, before opening the call for your questions.Before we continue, please note that today's discussion will contain forward-looking statements made under the Safe Harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties, as such, the company's results may be materially different from the views expressed today. Further information regarding this and other risks and uncertainties is included in the company's prospectus as filed with the U.S. Securities and Exchange Commission.The company does not assume any obligation to update any forward-looking statements, except as required under applicable law. Please also note that Four Seasons Education's earnings press release and this conference include discussions of unaudited GAAP financial information as well as unaudited non-GAAP financial measures. Four Seasons Education press release contains a reconciliation of the unaudited non-GAAP measures to the unaudited most directly comparable GAAP measures.I will now turn the call over to our CEO, Mr. Tian. Please go ahead.

Joanne Zuo

Analyst

Thank you, Mr. Tian. And hello, everyone. This is Joanne, CFO of the company. Let me first translate Mr. Tian's remarks into English. In the first quarter, we achieved a 53.2% total student enrollment growth on a year-over-year basis, with math-related courses as our core education offering, we provided K-12 students a one-stop solution for after-school study and self-improvement. During this quarter, we maintained enrollment and diversification momentum across a variety of subject courses. Spotlighting on middle school program is gaining popularity with strong year-over-year enrollment growth and an increasing proportion of revenue contribution during the first quarter.Interpreted Our learning centers in Shanghai and other provinces maintained the steady development and ramp-up process following our learning center network optimization efforts from the previous quarters. It's worth mentioning that the geographic diversification of our learning center continues, which is reflected by a remarkable 75% enrollment growth in the learning center outside of Shanghai, as compared with the year ago period. As of May 31, 2019, we had 52 learning centers, including 44 in Shanghai and 8 in other cities.Some exciting news was that our learning center facilities and its high-standard education program have been further recognized by the government. Recently, we were honored to be selected by the Shanghai Children's Foundation as one of the organizers of the Trusty Summer Childcare, this project is launched by Shanghai Women's Foundation and the China Children's Foundation and aims to have kids spend a safe, happy and fulfilling summer break.The Trusty Summer Childcare classes were launched in 12 of our learning centers in Shanghai during this summer vacation. Besides the dedicated teachers taking care of the kids' security and daily life, we also prepared a series of fascinating courses and activities geared toward the children's logical thinking development. Our participation in this public program,…

Olivia Li

Analyst

Thank you once again for joining us today. If you have further questions, please feel free to contact Four Seasons' Investor Relations through the contact information provided on our website or TPG Investor Relations.

Operator

Operator

Thank you very much. Ladies and gentlemen that then concludes this conference call. Thank you for joining, and you may now disconnect your lines.