Bright Scholar Education Holdings Limited (NYSE:BEDU) Q4 2019 Earnings Conference Call - Final Transcript

Nov 08, 2019 • 08:00 am ET


Bright Scholar Education Holdings Limited (NYSE:BEDU) Q4 2019 Earnings Conference Call - Final Transcript


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Good morning and thank you for standing by for Bright Scholar's Fourth Fiscal Quarter and Fiscal Year 2019 Earnings Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions] Today's conference is being recorded.

I would now like to turn the meeting over to your host for today's conference, Ms. Ruby Yim, Investor Relations Counsel.

Ruby Yim

Thank you, operator. Good morning and good evening. Welcome to Bright Scholar's fourth fiscal quarter ended August 31, 2019 earnings call. Joining me today are Mr. Jerry He, our Executive Vice Chairman; Mr. Derek Feng, our Chief Executive Officer; and Ms. Dora Li, our Chief Financial Officer.

As a reminder, today's conference call is being broadcast live via webcast. In addition, a replay will be available on our website following the call. By now, you should have received a copy of our press release that was distributed on November 7, 2019 after market close Eastern Time. If you haven't, it is available on the IR section of our website.

Before we get started, let me review the forward-looking statements regarding this conference call, that is statements related to future not past, events often address, expected future business and financial performance and financial condition and often contain words such as will, estimate, project, predict, believe, expect, anticipate, intend, potential, plan or goal. Bright Scholar may also make written or oral forward-looking statements in other reports, in presentations, in material delivered to shareholders and in press releases.

In addition, Bright Scholar's representatives may make other forward-looking statements. Forward-looking statements by their nature address matters that are to different degrees uncertain, such as statements about the company's goals and strategies, its future business development, financial condition and results of operations, its ability to retain and grow to its customer base and network of schools, and the growth and trends in the market for its services in China, the demand for and the market acceptance of its brand and services, competition in its industry in China, relevant government policies and regulations relating to the corporate structure, business and industry, fluctuations in general economic and business conditions in China. Further information regarding this and other risks is included in Bright Scholar's filings with the Securities and Exchange Commission. Bright Scholar undertakes no duty to update any forward-looking statement except as required under applicable law.

During this call, we will be referring to GAAP and non-GAAP financial measures. We use certain non-GAAP measures as supplemental measures to review and assess our operating performance. These non-GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for net income attributable to our company or other consolidated statements of comprehensive income data prepared in accordance with the U.S. GAAP.

Please note, all numbers are in RMB and all comparisons referred to year-over-year comparisons, unless otherwise stated.

With that, I'll turn the call over to our Executive Vice Chairman, Jerry He. Jerry?

Junli He

Thank you. Good morning and good evening to everyone who