新东方宣布独立调查结果

（2012年10月1日，北京）中国最大的私立教育机构新东方教育科技集团（下面简称“公司”或者“新东方”）(NYSE：EDU)今天宣布，就浑水公司在2012年7月18日发表的报告中对新东方提出的多项指控，新东方董事会的特别委员会已经完成了独立调查，调查结果表明，没有发现任何重要证据支持这些指控。新东方此前宣布，新东方于2012年7月20日成立特别委员会，由公司的三位独立董事李廷斌、李彦宏和杨壮博士组成。特别委员会同时聘请美国盛信律师事务所作为独立律师协助其对浑水报告中所提到的一些指控进行独立评估。美国盛信律师事务所随后聘请了安永国际会计公司和通商律师事务所协助调查。
此次独立调查，特别委员会和美国盛信律师事务所主要针对浑水报告中提到的三个核心指控，概括如下：（1）指控新东方的一些或者全部学校实际上是特许加盟（franchises-in-disguise），因此，新东方报告了不实的学校数目和总收入；（2）指控新东方的财务报表没有准确反映北京海淀学校交纳的企业所得税；（3关联图库）指控新东方不适当地将不同利益实体及其子公司（总称“VIE可变利益实体”）的财务数据并入公司的报表，因为根据美国一般公认会计准则（U.S. GAAP），新东方对这些VIE可变利益实体没有足够的控制权，不能将其财务数据并入公司报表。特别委员会的调查范围没有包括浑水报告中没有具体证据的泛泛指控。
‪
经调查，特别委员会在“特许加盟”问题上没有发现任何明显证据支持浑水的上述指控。特别委员会收集的证据表明，新东方对其55家学校及其相关学习中心拥有所有权。新东方与21家第三方进行的品牌“合作协议”是完全不同的商业安排，没有实质影响，而且也已经在公司财务报表中合适的体现出来。
‪
在税务问题上，特别委员会在独立调查中没有发现任何明显的证据支持浑水的上述指控。
‪
特别委员会了解美国证券交易委员会的公司财务部正在评估新东方将VIE可变利益实体的财务数据并入公司财务报表的情况。因此，特别委员会对这一情况的调查也将持续。
新东方将在关于VIE可变利益实体的问题上继续配合美国证券交易委员会的工作。同时，新东方将向美国证券交易委员会提交12b-25表格，以根据美国1934年证券交易法自动延缓提交新东方按20-F表格准备的2012财年年报（新东方的财年于5月31日结束）。
新东方简介
新东方教育科技集团是中国最大的著名私立教育服务机构，拥有培训课程、培训人次和分支机构保有量三项全国第一。集团以英语及其他外语培训为核心，提供大量针对美国、中国和英联邦国家的主要入学考试及能力考试，以及中小学教育的培训课程、服务与产品，是一家集教育培训、教育研发、图书杂志、影像出版、出国留学服务、职业教育、在线教育、教育软件研发等于一体的大型综合性教育科技集团。新东方教育科技集团的美国存托凭证在美国纽约证券交易所上市，交易代码为 “EDU”。欲查询更多新东方信息，敬请登陆：http://english.neworiental.org。
安全港申明
本公告含有前瞻性陈述。这些陈述符合美国1995年《私人证券诉讼改革法》关于“安全港”条款的规定。这些前瞻性陈述含有“将”，“期望”，“预计”，“未来”，“打算”、“计划”、“相信”和“估计”等词汇或类似陈述。新东方可能在若干情况下作出了书面或口头的前瞻性声明，如在向美国证券交易委员会提交的报告，向股东提交的年度报告，新闻稿，以及由公司的管理人员、董事或雇员向第三方提供的书面材料或口头声明中。
回复该发言

所有前瞻性声明均涉及内在的风险和不确定性。所有不是历史事实的声明，包括关于新东方的计划或期待的陈述，都是前瞻性陈述。相当一些重要因素均可能导致实际结果与任何前瞻性声明中包含的预期结果之间产生重大差异。更多关于这些及其他风险的信息包括在新东方按20-F表格准备的年度报告中，以及其他向美国证券交易委员会提交的文件中。本新闻稿中提供的所有信息均截至于新闻稿发布日期，除非法律另有要求，新东方不承担更新这些信息的义务。
附：英文声明
New Oriental Announces Results of IndependentInvestigation

Beijing,September 30, 2012 --New Oriental Education and TechnologyGroup Inc. (the “Company” or “New Oriental”) (NYSE: EDU), the largest providerof private educational services in China, todayannounced that the Special Committee of the Board of Directors of theCompany (the “Special Committee”) has completed its review of certainallegations raised in a report issued by Muddy Waters on July 18, 2012 and hasfound no significant evidence to support these allegations. As previously announced, the SpecialCommittee was formed on July 20, 2012, and is comprised of the threeindependent Directors of the Company, Mr. Denny Lee, Mr. Robin Yanhong Li, andDr. John Zhuang Yang. The SpecialCommittee retained Simpson Thacher & Bartlett LLP (“Simpson Thacher”) toassist it in conducting an independent review of certain allegations containedin the Muddy Waters report; Simpson Thacher, in turn, has been assisted in itsefforts by Ernst & Young (China) Advisory Limited and Commerce &Finance Law Offices.
Together with Simpson Thacher, the SpecialCommittee focused its investigation on the three core allegations articulatedin the Muddy Waters report, summarized as follows: (1) the allegation that someor all of the Co
回复该发言

mpany’s schools are actually franchises-in-disguise and thusinaccurately inflate the Company’s count of its own schools and its revenuesaid to be derived therefrom; (2) the allegation that the Company’s financialstatements do not accurately reflect enterprise income tax paid by the BeijingHaidian school; and (3) the allegation that the Company’s consolidation of thefinancial results of the variable interest entity and its subsidiaries (collectively,the “VIE”) into its own financials is improper because the Company does nothave sufficient control over the VIE necessary for consolidation under U.S.GAAP. The scope of the SpecialCommittee’s investigation did not extend to examination of various general andun-particularized allegations for which the Muddy Waters report provided nospecific detail.
The Special Committee’s work on the “franchise”issue uncovered no significant evidence that supports the Muddy Watersallegation mentioned above. The evidencecollected indicates that the Company does have ownership interests in its 55schools and associated learning centers.The activity related to the 21 third parties with whom New Oriental hasentered into brand “cooperation agreements” is entirely separate, isimmaterial, and in any event is properly accounted for in the Company’sfinancial statements.
The Special Committee’s work on the tax issueuncovered no significant evidence that supports the Muddy Waters allegationmentioned above.
回复该发言

The Special Committee understands that the SEC’sDivision of Corporation Finance is engaged in a review of the Company’sconsolidation of the financial results of the VIE into the Company’sconsolidated financial statements. Accordingly,the Special Committee’s work on that issue is likewise continuing.
The Companywill continue to fully cooperate withthe SEC on the issue concerning consolidation of the VIE. TheCompanywill file a Form 12b-25 with the SEC to request an automatic extension for thefiling of the Company’s annual report on Form 20-F covering its fiscal yearended May 31, 2012, as permitted under Rule 12b-25 under the SecuritiesExchange Act of 1934, as amended.
AboutNew Oriental
New Oriental is the largestprovider of private educational services in China based on the number ofprogram offerings, total student enrollments and geographic presence. NewOriental offers a wide range of educational programs, services and productsconsisting primarily of English and other foreign language training, testpreparation courses for major admissions and assessment tests in the UnitedStates, the PRC and Commonwealth countries, primary and secondary schooleducation, development and distribution of educational content, software andother technology, and online education. New Oriental’s ADSs, each of whichrepresents one common share, currently trade on the New York Stock Exchangeunder the symbol ’’EDU.’’
回复该发言

For more information aboutNew Oriental, please visit http://english.neworiental.org.
Safe Harbor Statement
Thisannouncement contains forward-looking statements. These statements are madeunder the “safe harbor” provisions of the U.S. Private Securities LitigationReform Act of 1995. These forward-looking statements can be identified byterminology such as “will,” “expects,” “anticipates,” “future,” “intends,”“plans,” “believes,” “estimates,” “confidence” and similar statements. NewOriental may also make written or oral forward-looking statements in itsreports filed or furnished to the U.S. Securities and Exchange Commission, inits annual reports to shareholders, in press releases and other written materialsand in oral statements made by its officers, directors or employees to thirdparties. Statements that are not historical facts, including statements aboutNew Oriental’s beliefs and expectations, are forward-looking statements.Forward-looking statements involve inherent risks and uncertainties. A numberof factors could cause actual results to differ materially from those containedin any forward-looking statement. Further information regarding these and otherrisks is included in New Oriental’s annual report on Form 20-F and otherdocuments filed with the Securities and Exchange Commission. All informationprovided in this press release is as of the date of this press release, and NewOriental undertakes no duty to update such information, except as requiredunder applicable law.
回复该发言

Contacts
For investor and mediainquiries, please contact:
In China:
Ms. Sisi Zhao
New Oriental Education andTechnology Group Inc.
Tel: +86-10-6260-5568
Email: zhaosisi@xdf.cn
Mr.Nick Beswick
Beijing BrunswickConsultancy Ltd.
Tel: +86-10-5960 8600
Email:edu@brunswickgroup.com
In the U.S.:
Ms.Carly Westerman
Brunswick Group LLC
Tel: +1-212 333 3810
Email:edu@brunswickgroup.com
回复该发言