And we would like to open the call to the questions. Even if they want to, they can't do that this year, because many of them can't even get Visa or a clearance to go to overseas. Leonard Law -- Lucror Analytics -- Analyst. I have two questions. Bilingual schools, revenue for the quarter up 14% due to 10% increase in students enrollment. For the whole year, adjusted net income was RMB267.7 million compared to RMB322.6 million. I would like to turn the conference back over to Jerry He for any closing remarks. As of October 30th, there was short interest totaling 89,300 shares, an increase of 30.7% from the October 15th total of 68,300 shares. Please feel free to contact us if any further questions. I will wrap up, and then we will take your questions. Revenue from overseas schools, an important part of our global strategy was RMB69.1 million for the quarter, down 53.4% primarily due to closure of language learning centers under COVID-19. Before we get started, let me remind you that today's call may contain 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. Kindergartens, revenue for the quarter and fiscal year was down 17.3% and 24.6% respectively, primarily due to decrease in tuition fees, meals and boarding fees as a result of mandatory school closure. S&P 500. And also for the third question about the -- sorry international schools, with the kind of U.S.-China trade and also pandemic, we have seen some parents are hesitating whether or not they want to send the students to school overseas, for example, to our U.K. school or U.S. school. But we are more conservative about opening new schools. MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. I wondered, can you break down this F '21 revenue guidance into what is the assumptions behind this guidance like how much recovery from the COVID you assumed? Let's begin our earnings report. Looking for new stock ideas? According to analysts' consensus price target of $9.65, Bright Scholar Education has a forecasted upside of 45.6% from its current price of $6.63. Because we already have our September numbers enrollment, which is significantly down from last year, especially for the new students. That's all. The following presents a detailed Bright Scholar Education stock price history for your review. And on Slide 38, shows our average student enrollment and average tuition fee across our network. Further information regarding this and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. As of November 30, 2019, it operated 80 schools across 10 provinces in China, as well as 8 schools internationally with a total student capacity of 67,194 students. Two questions from my side. Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter. Thank you, Jerry. We are very confident that the strategic initiatives will enable us to emerge from the crisis as a stronger Company that is well positioned for long-term growth and success. But the expansion is more on the tech and education services. View Bright Scholar Education's Short Interest. View Bright Scholar Education Holdings Ltd. BEDU investment & stock information. On a yearly basis, adjusted SG&A as a percentage of total revenue was 26.2% compared to 25% last fiscal year. The company provided earnings per share guidance of for the period. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. The COVID-19 crisis has been a major catalyst driving policymakers, service providers and more parents and families to explore online learning options. We are confident that our strategic initiative will enable us to emerge from the crisis as a stronger Company that will be well positioned for long-term growth and success. For fiscal year ended August 31, 2020, the Company's capital expenditure was approximately RMB149.8 million, down 3.5% compared to last fiscal year. You may vote once every thirty days. Second question is to get an understanding of management's thinking behind the RMB900 million short-term loans because the company already has a lot of cash on the balance sheet. BEDU 6.58 0.08 (1.23%). Gross margin was down 6.9 percentage points to 22.9% for the quarter. On a yearly basis, revenue was up 9.1%. Let's turn back to our financials. Beyond fiscal 2021, we have seven schools and 39 kindergartens contracted for operation. The second one is about the guidance. The company earns $23.51 million in net income (profit) each year or $0.32 on an earnings per share basis. We plan to further leverage the collaboration with Country Garden to explore more opportunities in broadening our outdoor camp business within China, as well as acquisitions to expand our service offerings. Our Overseas Counselling business, English language centers and overseas camp business will be affected by the adverse operating environment in the U.K. and the U.S. So we have seen some shift between -- from U.S. to U.K. and Hong Kong. I don't know, if everything back to normal, we probably we will have more than -- Obviously, the impact on our overseas business is close to RMB300 million as our best estimate during the time. Top line results for fiscal year 2020 remains solid with revenue up 31.3% to RMB3,366.5 million for the fiscal year. For the whole year, it was RMB151.2 million compared to RMB178.1 million. As we mentioned in the call, we still -- because of the lockdown and the resurgence of the COVID of the pandemic, which heavily -- still heavily impacted in our overseas business. Bright Scholar Education's mailing address is No.1 Country Garden RoadBeijiao Town Shunde District, Foshan F4, 528300. The increase in SG&A expense for the fiscal year was primarily due to the inclusion of acquired business. The dividend payout ratio of Bright Scholar Education is 34.38%. Bright Scholar Education's management team includes the following people: Co-Chief Exec. I'm a bond analyst. Thanks, Ruby. Please turn to Slide 23. Our Domestic K-12 Schools average student-teacher ratio for the fiscal year was 8.9 compared to 8.8. The short-term loan is the same -- pretty much the same nature as we mentioned on the restricted cash. But amid the significant challenges and disruption, Bright Scholar still delivered a solid full fiscal year with revenue growth of 31.3% and an adjusted EBITDA growth of 36.5% for fiscal year 2020. Zacks Investment Research upgraded shares of Bright Scholar Education (NYSE:BEDU) from a sell rating to a hold rating in a research note issued to investors on Friday morning, Zacks.com reports. Thank you. Bright Scholar Education employs 10,366 workers across the globe. On a yearly basis, cost of revenue was 63.7% of total revenue compared to 61.9% last fiscal year. (Add your “underperform” vote.). Bright Scholar Education is scheduled to release its next quarterly earnings announcement on Thursday, January 21st 2021. With this note, I'll turn the call to Dora. But EdTech, so we all see that is a growth area and also education -- the complementary education services is also a growth area that are less regulated, particularly after the kind of tightening of complementary education in end of 2018, beginning of 2019. To see all exchange delays and terms of use please see disclaimer. Hello, Management. [Operator Instructions] The next question comes from Leonard Law of Lucror Analytics. These forward-looking statements include, without limitation, the Company's business plans and development, which can be identified by terminologies such as may, will, expect, anticipate, aim, estimate, intend, plan, believe, potential, continue, is/are likely to or other similar expressions. Slide 37 shows our balance sheet and cash flow statement. Please turn to Slide 13 for the highlights of our fourth quarter and the full fiscal year performance with detailed breakdown by respective business in Slides 14 to 15. Hi, Jerry. Hi, Dora. And the second question is on the regulation. Good morning and good evening. If you have not, it is available on the IR section of our website. Revenue from complementary education was down 4.7% for the quarter due to pandemic impact on overseas study counselling business and study tour and camp business. The restricted cash on our balance sheet is a sort of like a bank saving because we use our overseas bank -- overseas cash we -- during the time we're not having too much acquisition activities. Receive a free world-class investing education from MarketBeat. 3i Global Academy has enrolled more than 170 paying students as of November 7. NASDAQ Updated Nov 25, 2020 9:00 PM All rights reserved. So, the guidance that we gave did not include any -- did not factor in any potential additional acquisitions, that's all organic. Hi, this is Dora. As a percentage of Group revenue, adjusted unallocated corporate expenses, mainly headquarter expenses for the quarter was 8.1% down from 10.1%.
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