New Oriental Education & Technology Group Inc.

(Cayman Islands)(ADR)

New Oriental Education CEO

Chairman

Yu Minhong, or Michael Yu (Simplified Chinese: 俞敏洪; born 15 October 1962 in Jiangyin City, Jiangsu Province) is the founder and president of New Oriental Education & Technology Group Inc. (Simplified Chinese: 新东方教育科技集团), and a member of the central committee of China Democratic League.

VIE Structure

New Oriental Education VIE Structure

Corporate Governance

As a foreign private issuer (as defined in Rule 3b-4 under the Exchange Act), New Oriental is permitted to follow home country practices in lieu of some of the corporate governance practices required to be followed by U.S. companies listed on the New York Stock Exchange.
As a listed company in Cayman Islands, New Oriental is subject to the requirement under the Companies Law of the Cayman Islands.

Board of Directors

Michael Minhong Yu (Chairman)
Chenggang Zhou (CEO)
Zhihui Yang (CFO)
Louis T. Hsieh
Robin Yanhong Li (Independent)
Denny Lee (Independent)
John Zhuang Yang (Independent)

Audit Committee
Denny Lee (Independent) chairman
Robin Yanhong Li (Independent)
John Zhuang Yang (Independent)

Compensation Committee
Robin Yanhong Li (Independent) chairman
Denny Lee (Independent)
John Zhuang Yang (Independent)

Corporate Governance and Nominating Committee
John Zhuang Yang (Independent) chairman
Robin Yanhong Li (Independent)
Denny Lee (Independent)

Comments

Australian Advanced Accounting 27

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AU: Consolidation: other issues

Consolidation: other issues 1. Discuss the two types of NCI that may exist in a multiple subsidiary group structure. One feature of multiple subsidiary structures where a parent has an interest in a subsidiary that is itself a parent of another subsidiary is the need to classify the NCI ownership in the subsidiaries into direct non-controlling interest (DNCI) and indirect non-controlling interest (INCI). A DNCI exists where the NCI owns shares in a subsidiary. An INCI exists in a subsidiary where that subsidiary is owned by a partially owned subsidiary in the group. The NCI in the partially owned subsidiary is the INCI in the other subsidiary. Example: 80% 60% P Ltd A Ltd B Ltd P Ltd 80% P Ltd 48% DNCI 20% DNCI 40% INCI 12% 2. Explain the difference in the calculation of the direct and indirect N Direct NCI receives a proportionate share of all equity of the subsidiary over which it has direct ownership interest. Indirect NCI receives a proportionate share of only th...

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