TAL: The High Growth Of Attendee Capacity Driving Better FY4Q21 Topline Results
TAL will report FY4Q21 results on April 22nd before the markets open with an 8am EST conference call. Along with the recovery of the second wave of COVID in December 2020 and early January 2021, TAL’s Peiyou attendee capacity for offline delivering channel grew 62.0% Y/Y, and attendee capacity for fully registered normal-price courses increased 28.8% Y/Y. With these two factors, we are positive on Peiyou’s performance in FY4Q21E. For the online part of its business xueersi.com, average hourly rate, total courses and attendees all showed meaningful growth, which we believe are positive for its online performance.
T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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