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TAL Education Group Announces Unaudited Financial Results for the First Fiscal Quarter Ended May 31, 2024

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BEIJING, Aug. 1, 2024 /PRNewswire/ — TAL Education Group (NYSE: TAL) (“TAL” or the “Company”), a smart learning solutions provider in China, today announced its unaudited financial results for the first quarter of fiscal year 2025 ended May 31, 2024.

Highlights for the First Quarter of Fiscal Year 2025

Net revenues were US$414.2 million, compared to net revenues of US$275.4 million in the same period of the prior year.Loss from operations was US$17.3 million, compared to loss from operations of US$57.8 million in the same period of the prior year.Non-GAAP income from operations, which excluded share-based compensation expenses, was US$0.9 million, compared to non-GAAP loss from operations of US$32.3 million in the same period of the prior year.Net income attributable to TAL was US$11.4 million, compared to net loss attributable to TAL of US$45.0 million in the same period of the prior year.Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$29.6 million, compared to non-GAAP net loss attributable to TAL of US$19.5 million in the same period of the prior year.Basic and diluted net income per American Depositary Share (“ADS”) were both US$0.02. Non-GAAP basic and diluted net income per ADS, which excluded share-based compensation expenses, were both US$0.05. Three ADSs represent one Class A common share.Cash, cash equivalents and short-term investments totaled US$3,418.6 million as of May 31, 2024, compared to US$3,303.3 million as of February 29, 2024.

 

Financial Data——First Quarter of Fiscal Year 2025
(In US$ thousands, except per ADS data and percentages)

Three Months Ended
May 31,

2023

2024

Pct. Change

Net revenues

275,440

414,187

50.4 %

Loss from operations

(57,773)

(17,330)

(70.0 %)

Non-GAAP (loss)/income from operations

(32,260)

876

(102.7 %)

Net (loss)/income attributable to TAL

(45,037)

11,402

(125.3 %)

Non-GAAP net (loss)/income attributable to
TAL

(19,524)

29,608

(251.6 %)

Net (loss)/income per ADS attributable to
TAL – basic

(0.07)

0.02

(126.5 %)

Net (loss)/income per ADS attributable to
TAL – diluted

(0.07)

0.02

(126.0 %)

Non-GAAP net (loss)/income per ADS
attributable to TAL – basic

(0.03)

0.05

(259.0 %)

Non-GAAP net (loss)/income per ADS
attributable to TAL – diluted

(0.03)

0.05

(256.0 %)

 

“In this quarter, our core focus remains on delivering quality products and managing our online and offline operational efficiency to serve learners effectively,” said Alex Peng, TAL’s President and Chief Financial Officer.

Mr. Peng added, “Looking forward, we will make ongoing investments to provide our users with quality learning experiences. Our product capabilities, combined with our operational efficiency, positions us to capitalize on market opportunities and deliver long-term value to our customers.”

Financial Results for the First Quarter of Fiscal Year 2025

Net Revenues

In the first quarter of fiscal year 2025, TAL reported net revenues of US$414.2 million, representing a 50.4% increase from US$275.4 million in the first quarter of fiscal year 2024.

Operating Costs and Expenses

In the first quarter of fiscal year 2025, operating costs and expenses were US$432.1 million, representing a 26.3% increase from US$342.1 million in the first quarter of fiscal year 2024. Non-GAAP operating costs and expenses, which excluded share-based compensation expenses, were US$413.9 million, representing a 30.7% increase from US$316.6 million in the first quarter of fiscal year 2024.

Cost of revenues increased by 43.4% to US$200.0 million from US$139.5 million in the first quarter of fiscal year 2024. Non-GAAP cost of revenues, which excluded share-based compensation expenses, increased by 44.2% to US$197.6 million, from US$137.1 million in the first quarter of fiscal year 2024.

Selling and marketing expenses increased by 25.4% to US$122.4 million from US$97.7 million in the first quarter of fiscal year 2024. Non-GAAP selling and marketing expenses, which excluded share-based compensation expenses, increased by 30.8% to US$118.1 million, from US$90.2 million in the first quarter of fiscal year 2024.

General and administrative expenses increased by 4.5% to US$109.7 million from US$104.9 million in the first quarter of fiscal year 2024. Non-GAAP general and administrative expenses, which excluded share-based compensation expenses, increased by 10.0% to US$98.2 million, from US$89.2 million in the first quarter of fiscal year 2024.

Total share-based compensation expenses allocated to the related operating costs and expenses decreased by 28.6% to US$18.2 million in the first quarter of fiscal year 2025 from US$25.5 million in the same period of fiscal year 2024.

Gross Profit                                                                                                                                 

Gross profit increased by 57.6% to US$214.2 million from US$135.9 million in the first quarter of fiscal year 2024. The gross margin for the first quarter of fiscal year 2025 was 51.7%, compared to 49.3% in the same period of the prior year.

Loss from Operations

Loss from operations was US$17.3 million in the first quarter of fiscal year 2025, compared to loss from operations of US$57.8 million in the first quarter of fiscal year 2024. Non-GAAP income from operations, which excluded share-based compensation expenses, was US$0.9 million, compared to Non-GAAP loss from operations of US$32.3 million in the same period of the prior year.

Other (Expense)/Income

Other income was US$13.2 million for the first quarter of fiscal year 2025, compared to other expense of US$6.8 million in the first quarter of fiscal year 2024.

Impairment Loss on Long-term Investments

Impairment loss on long-term investment was US$3.8 million for the first quarter of fiscal year 2025, compared to nil for the first quarter of fiscal year 2024.

Income Tax Expense

Income tax expense was US$2.3 million in the first quarter of fiscal year 2025, compared to US$3.5 million of income tax expense in the first quarter of fiscal year 2024.

Net (Loss)/Income Attributable to TAL Education Group

Net income attributable to TAL was US$11.4 million in the first quarter of fiscal year 2025, compared to net loss attributable to TAL of US$45.0 million in the first quarter of fiscal year 2024. Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$29.6 million, compared to Non-GAAP net loss attributable to TAL of US$19.5 million in the first quarter of fiscal year 2024.

Basic and Diluted Net (Loss)/Income per ADS

Basic and diluted net income per ADS were both US$0.02 in the first quarter of fiscal year 2025. Non-GAAP basic and diluted net income per ADS, which excluded share-based compensation expenses, were both US$0.05 in the first quarter of fiscal year 2025.

Cash Flow 

Net cash provided by operating activities for the first quarter of fiscal year 2025 was US$246.8 million.

Cash, Cash Equivalents, and Short-Term Investments

As of May 31, 2024, the Company had US$2,222.6 million of cash and cash equivalents and US$1,196.0 million of short-term investments, compared to US$2,208.7 million of cash and cash equivalents and US$1,094.6 million of short-term investments as of February 29, 2024.

Deferred Revenue

As of May 31, 2024, the Company’s deferred revenue balance was US$641.9 million, compared to US$428.3 million as of February 29, 2024.

Conference Call

The Company will host a conference call and live webcast to discuss its financial results for the first fiscal quarter of fiscal year 2025 ended May 31, 2024 at 8:00 a.m. Eastern Time on August 1, 2024 (8:00 p.m. Beijing time on August 1, 2024).

Please note that you will need to pre-register for conference call participation at https://register.vevent.com/register/BI0948a7548cbb4383b037c2d80666f8ec.

Upon registration, you will receive an email containing participant dial-in numbers and unique Direct Event Passcode. This information will allow you to gain immediate access to the call. Participants may pre-register at any time, including up to and after the call start time.

A live and archived webcast of the conference call will be available on the Investor Relations section of TAL’s website at https://ir.100tal.com/.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, TAL Education Group’s strategic and operational plans contain forward-looking statements. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s ability to continue to provide competitive learning services and products; the Company’s ability to continue to recruit, train and retain talents; the Company’s ability to improve the content of current course offerings and develop new courses; the Company’s ability to maintain and enhance its brand; the Company’s ability to maintain and continue to improve its teaching results; and the Company’s ability to compete effectively against its competitors. Further information regarding these and other risks is included in the Company’s reports filed with, or furnished to the U.S. Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of this press release, and TAL Education Group undertakes no duty to update such information or any forward-looking statement, except as required under applicable law.

About TAL Education Group

TAL Education Group is a smart learning solutions provider in China. The acronym “TAL” stands for “Tomorrow Advancing Life”, which reflects our vision to promote top learning opportunities for students through both high-quality teaching and content, as well as leading edge application of technology in the education experience. TAL Education Group offers comprehensive learning solutions to students from all ages through diversified class formats. Our learning solutions mainly cover enrichment learnings programs and some academic subjects in and out of China. Our ADSs trade on the New York Stock Exchange under the symbol “TAL”.

About Non-GAAP Financial Measures

In evaluating its business, TAL considers and uses the following measures defined as non-GAAP financial measures by the SEC as supplemental metrics to review and assess its operating performance: non-GAAP operating costs and expenses, non-GAAP cost of revenues, non-GAAP selling and marketing expenses, non-GAAP general and administrative expenses, non-GAAP (loss)/income from operations, non-GAAP net (loss)/income attributable to TAL, non-GAAP basic and non-GAAP diluted net (loss)/income per ADS. To present each of these non-GAAP measures, the Company excludes share-based compensation expenses. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the table captioned “Reconciliations of non-GAAP measures to the most comparable GAAP measures” set forth at the end of this release.

TAL believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding share-based expenses that may not be indicative of its operating performance from a cash perspective. TAL believes that both management and investors benefit from these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management’s internal comparisons to TAL’s historical performance and liquidity. TAL computes its non-GAAP financial measures using the same consistent method from quarter to quarter and from period to period. TAL believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using non-GAAP measures is that these non-GAAP measures exclude share-based compensation charges that have been and will continue to be for the foreseeable future a significant recurring expense in the Company’s business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables have more details on the reconciliations between GAAP financial measures that are most directly comparable to non-GAAP financial measures.

For further information, please contact:

Jackson Ding
Investor Relations
TAL Education Group
Tel: +86 10 5292 6669-8809
Email: ir@tal.com

 

TAL EDUCATION GROUP

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands of U.S. dollars)

As of

February 29,
2024

As of

May 31,
2024

ASSETS

Current assets

   Cash and cash equivalents

$ 2,208,756

$ 2,222,591

Restricted cash-current

167,656

275,966

Short-term investments

1,094,593

1,195,981

    Inventory

68,328

80,984

Amounts due from related parties-current

343

376

    Income tax receivables

–

1,543

    Prepaid expenses and other current assets

159,498

153,159

Total current assets

3,699,174

3,930,600

    Restricted cash-non-current

81,064

79,865

    Property and equipment, net

405,319

438,670

    Deferred tax assets

4,620

4,938

    Rental deposits

16,947

18,523

    Intangible assets, net

1,988

1,637

    Land use right, net

189,049

186,862

    Amounts due from related parties-non-current

59

59

Long-term investments

284,266

279,852

Long-term prepayments and other non-current assets

14,359

21,600

Operating lease right-of-use assets

231,104

340,231

Total assets

$ 4,927,949

$ 5,302,837

LIABILITIES AND EQUITY

Current liabilities

Accounts payable

$ 127,321

$ 132,267

Deferred revenue-current

400,286

613,470

Amounts due to related parties-current

96

95

Accrued expenses and other current liabilities

491,911

519,899

Operating lease liabilities, current portion

62,604

72,269

Total current liabilities

1,082,218

1,338,000

Deferred revenue-non-current

27,993

28,438

Deferred tax liabilities

2,360

2,254

Operating lease liabilities, non-current portion

176,614

273,461

Total liabilities

1,289,185

1,642,153

Equity

Class A common shares

152

153

Class B common shares

49

49

Additional paid-in capital

4,256,957

4,275,160

Statutory reserve

165,138

165,033

Accumulated deficit

(694,270)

(682,763)

Accumulated other comprehensive loss

(65,928)

(73,659)

Total TAL Education Group’s equity

3,662,098

3,683,973

Noncontrolling interests

(23,334)

(23,289)

Total equity

3,638,764

3,660,684

Total liabilities and equity

$ 4,927,949

$ 5,302,837

 

TAL EDUCATION GROUP

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands of U.S. dollars, except share, ADS, per share and per ADS data) 

       For the Three Months Ended

        May 31,

2023

2024

 

Net revenues

 

$ 275,440

 

$ 414,187

Cost of revenues (note 1)

139,513

200,008

Gross profit

135,927

214,179

Operating expenses (note 1)

  Selling and marketing

97,657

122,428

  General and administrative

104,923

109,682

Total operating expenses

202,580

232,110

Government subsidies

8,880

601

Loss from operations

(57,773)

(17,330)

Interest income

22,981

22,522

Other (expense)/income

(6,845)

13,151

Impairment loss on long-term investments

–

(3,767)

(Loss)/Income before income tax expense and

loss from equity method investments

(41,637)

14,576

Income tax expense

(3,519)

(2,295)

Loss from equity method investments

(71)

(985)

Net (loss)/income

$ (45,227)

$ 11,296

Add: Net loss attributable to noncontrolling interests

190

106

Total net (loss)/income attributable to TAL
    Education Group

$ (45,037)

$ 11,402

Net (loss)/income per common share

Basic

$ (0.21)

$ 0.06

Diluted

(0.21)

0.06

Net (loss)/income per ADS (note 2)

Basic

$ (0.07)

$ 0.02

Diluted

(0.07)

0.02

 

Weighted average shares used in calculating net
    (loss)/income per common share

   Basic

211,319,973

201,567,132

   Diluted

211,319,973

205,382,443

Note1: Share-based compensation expenses are included in the operating costs and expenses as follows:

For the Three Months

Ended May 31,

2023

2024

Cost of revenues

$ 2,409

$ 2,362

Selling and marketing expenses

7,428

4,375

General and administrative expenses

15,676

11,469

Total

$ 25,513

$ 18,206

Note 2: Three ADSs represent one Class A common Share. 

 

 

 

TAL EDUCATION GROUP

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF

COMPREHENSIVE (LOSS)/INCOME  

(In thousands of U.S. dollars)

For the Three Months Ended

 May 31,

2023

2024

Net (loss)/income

$ (45,227)

$ 11,296

Other comprehensive loss, net of tax

(23,813)

(7,580)

Comprehensive (loss)/income

(69,040)

3,716

Add: Comprehensive income attributable to
   noncontrolling interests

(461)

(45)

Comprehensive (loss)/income attributable to 

TAL Education Group

$ (69,501)

$ 3,671

 

 

 

TAL EDUCATION GROUP

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF

CASH FLOWS

(In thousands of U.S. dollars)

For the Three Months
Ended

May 31,

2023

2024

Net cash provided by operating activities

$ 125,516

$ 246,793

Net cash provided by/(used in) investing activities

160,915

(124,635)

Net cash (used in)/provided by financing activities

(151,237)

5

Effect of exchange rate changes

(4,510)

(1,217)

Net increase in cash, cash equivalents and restricted cash

130,684

120,946

Cash, cash equivalents and restricted cash at the beginning of
   period

2,294,907

2,457,476

Cash, cash equivalents and restricted cash at the end of period

$ 2,425,591

$ 2,578,422

 

 

 

TAL EDUCATION GROUP

Reconciliation of Non-GAAP Measures to the Most Comparable GAAP Measures

(In thousands of U.S. dollars, except share, ADS, per share and per ADS data)

  For the Three Months 

   Ended May 31,

2023

2024

Cost of revenues

$ 139,513

$ 200,008

Share-based compensation expenses in cost of

  revenues

2,409

2,362

Non-GAAP cost of revenues

137,104

197,646

Selling and marketing expenses

97,657

122,428

Share-based compensation expenses in selling and

  marketing expenses

7,428

4,375

Non-GAAP selling and marketing expenses

90,229

118,053

 

General and administrative expenses

 

104,923

 

109,682

Share-based compensation expenses in general and

  administrative expenses

15,676

11,469

Non-GAAP general and administrative expenses

89,247

98,213

Operating costs and expenses

342,093

432,118

Share-based compensation expenses in operating

  costs and expenses

25,513

18,206

Non-GAAP operating costs and expenses

316,580

413,912

Loss from operations

(57,773)

(17,330)

Share based compensation expenses

25,513

18,206

Non-GAAP (loss)/income from operations (note 3)

(32,260)

876

Net (loss)/income attributable to TAL Education 
Group

(45,037)

11,402

Share based compensation expenses

25,513

18,206

Non-GAAP net (loss)/income attributable to 
TAL Education Group (note 3)

$ (19,524)

$ 29,608

 

Net (loss)/income per ADS

Basic

$ (0.07)

$ 0.02

Diluted

(0.07)

0.02

Non-GAAP Net (loss)/income per ADS 

Basic

$ (0.03)

$ 0.05

Diluted

(0.03)

0.05

ADSs used in calculating net (loss)/income per 
ADS

Basic

633,959,919

604,701,396

Diluted

633,959,919

616,147,329

ADSs used in calculating Non-GAAP net
(loss)/income per ADS

 Basic

633,959,919

604,701,396

 Diluted

633,959,919

616,147,329

Note 3: The tax effect of share-based compensation expenses was immaterial in the first quarter of fiscal year 2025.

 

View original content:https://www.prnewswire.com/news-releases/tal-education-group-announces-unaudited-financial-results-for-the-first-fiscal-quarter-ended-may-31-2024-302212162.html

SOURCE TAL Education Group

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Technology

Black Lake Technologies Shortlisted as SAIL Award TOP30 Finalist and Selected as Global Industrial AI Flagship Case, Showcasing Latest Industrial Agent at WAIC 2026

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35 minutes ago

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July 18, 2026

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SHANGHAI, July 18, 2026 /PRNewswire/ — The 2026 World Artificial Intelligence Conference (WAIC) opened in Shanghai on July 17. Shanghai Blacklake Technologies Co., Ltd. (“Black Lake”), an industrial AI company, is showcasing a portfolio of industrial AI agents at the conference. The company has also been named to the Top 30 shortlist for the 2026 WAIC Super AI Leader (SAIL) Award and selected as a Trusted Partner under the Global Call for Trusted Partners for Industrial AI in the Global South.

The accreditations highlight Black Lake’s latest progress in bringing AI into critical manufacturing decision-making workflows and deploying industrial AI capabilities on the shop floor around the world.

This year’s conference attracted over 1,100 exhibiting companies and showcased more than 3,000 exhibits, setting a new record for exhibition scale. The conference delivered a clear signal: as artificial intelligence becomes a common priority across global industries, attention is moving beyond model capabilities toward practical applications in real-world operating environments.

Manufacturing provides a particularly demanding test for this transition. Factory operations are governed by multiple constraints, including process specifications, equipment capabilities, material availability, production capacity, delivery schedules and quality requirements. Therefore, AI has to do so much more than simply comprehend information input. It must make reliable judgments within clearly defined business rules and operational constraints.

Black Lake has focused on industrial digitalization and industrial AI for years, developing and deploying AI applications in a range of factory environments.

At WAIC 2026, the company is presenting industrial AI agents covering order splitting and process planning, quotation and pricing, procurement, production scheduling, quality inspection, and order tracking. These applications are designed to move AI beyond an auxiliary role and into critical manufacturing decision-making workflows.

Traditional industrial software is primarily responsible for data recording, digital workflows, and worker coordination. However, critical decisions such as how to split an order, determine pricing, schedule production, and assess quality risks still depend heavily on the experience of engineers and frontline workers.

Industrial AI agents are intended to convert fragmented industrial knowledge and production experience into decision-making capabilities that can be invoked, reused and continuously refined by software systems.

Order decomposition and process planning are representative examples. After receiving an engineering drawing, a factory typically relies on experienced engineers to identify components, materials and dimensions, define the required manufacturing processes and technical specifications, and establish a basis for subsequent quotation and quality inspection.

The process is highly dependent on individual expertise and represents one of the first critical decision points after an order is received.

Black Lake Technologies’ CAD-to-Process Agent can understand product drawings and, taking into account the factory’s equipment capabilities, process requirements, and production practices, rapidly generate process steps along with the corresponding technical requirements. Drawing analysis that once took hours can now be completed in approximately one minute, achieving an accuracy rate of over 95% in real deployment and providing engineers with stable, efficient decision support. Currently, the industrial agents developed by the company cover core processes including design, scheduling, production, and quality inspection, and have entered the stage of large-scale deployment.

Founded in 2016, Black Lake serves nearly 40,000 factories worldwide. Its customers span more than 30 industries, including food and beverage, automotive components and equipment manufacturing.

By working across factory order management, production and fulfillment workflows, Black Lake has accumulated the technical capabilities and industry knowledge required to support decision-making in complex industrial environments.

In April 2026, Black Lake completed a Series D funding round of nearly RMB 1 billion. The company said the proceeds would primarily be used to accelerate the deployment of its industrial AI products and support its international expansion.

AI-related products are becoming a new source of growth for the company. In a recent interview, Black Lake founder and CEO Zhou Yuxiang said that the company had recorded significant growth in AI-related revenue since the beginning of 2026. He also said that manufacturing customers were taking less time to make purchasing decisions for industrial AI agents.

Zhou expects AI adoption among Chinese factories to increase substantially over the next three to four years.

Unlike consumer-facing AI, which is primarily associated with content generation and personal productivity, industrial AI agents can directly affect production costs, capacity utilization, delivery performance, and product quality. Their commercial value therefore depends largely on whether they can perform specific tasks reliably in complex production environments.

During WAIC 2026, Black Lake was named to the Top 30 shortlist for the 2026 Super AI Leader (SAIL) Award. The SAIL Award is one of WAIC’s major awards and recognizes achievements in technological breakthroughs, application innovation, and industrial value.

Black Lake was also selected as a Trusted Partner under UNIDO’s Global Call for Trusted Partners for Industrial AI in the Global South.

The Global Call was launched under the guidance of the United Nations Industrial Development Organization (UNIDO), in partnership with the Shanghai Artificial Intelligence Research Institute, and in connection with the work of UNIDO AIM Global and its Shanghai-based Centre of Excellence.

The initiative aims to build a curated pool of leading partners to co-develop scalable industrial AI solutions and public goods for the Global South.

For Black Lake, the two accreditations underscore the growing importance of reliability, explainability, and scalability in the evaluation of industrial AI, in addition to the capabilities of AI models.

Global expansion will be a major priority in the company’s next phase of development. Black Lake is currently focusing on Southeast Asia, Latin America and Eastern Europe, adapting its industrial AI agents to the industrial structures, production processes and management requirements of different markets.

Although manufacturing operations vary across countries and regions, manufacturers share similar concerns about efficiency, quality, delivery reliability and production flexibility.

Black Lake is transforming industrial AI capabilities that have been validated in complex factory environments into configurable and deployable products. Through these products, the company aims to work with manufacturers worldwide to explore more efficient, flexible and intelligent approaches to production.

View original content:https://www.prnewswire.com/apac/news-releases/black-lake-technologies-shortlisted-as-sail-award-top30-finalist-and-selected-as-global-industrial-ai-flagship-case-showcasing-latest-industrial-agent-at-waic-2026-302828984.html

SOURCE Black Lake

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Technology

76% of Coupon Codes Work at Checkout, but Most Failures Trace Back to Terms Shoppers Never Read, CouponDopa Study Finds

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2 hours ago

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July 18, 2026

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Study Finds 76% of Coupon Codes Work at Checkout

NEW YORK, July 18, 2026 /PRNewswire-PRWeb/ — Multi-country research across 11 regions finds that most coupon code failures were not due to expired codes, but to terms and conditions shoppers did not check before checkout.

Our research shows that most coupon code failures are caused by overlooked terms and conditions not expired codes. Understanding the offer requirements can significantly improve checkout success.” — Anderson Joe, CMO, CouponDopa

A new study testing 1,000 coupon codes across 11 countries found that three in four online discount codes applied successfully at checkout, while the remaining failures were tied more often to unmet terms than to expired or invalid codes.

The research was conducted by CouponDopa, a multi-regional coupon platform operating in 11 countries. Codes were tested across multiple retail categories in July 2026 to measure real checkout success rates.

KEY FINDINGS

Overall success rate: 76%. Overall failure rate: 24%. Highest-performing country: Netherlands, 81%. Lowest-performing countries: Poland and Italy, tied at 70%. Highest-performing category: Electronics. Lowest-performing category: Travel. Desktop success rate: 78%. Mobile success rate: 74%.

The study’s most significant finding was not the failure rate itself, but the reasons behind it.

“The assumption most shoppers make is that a coupon code doesn’t work because it’s expired,” said Anderson Joe, CMO at CouponDopa. “Our testing found that expiry was rarely the primary issue. In most failed attempts, the code was still active, but the shopper’s cart did not meet a listed condition, such as a minimum spend or a region restriction.”

WHY COUPON CODES ACTUALLY FAIL

Minimum spend not met: the most common reason for failure across all 11 regions, since many codes require a basket value above a set threshold.Region-specific restrictions: codes valid in one country frequently failed in another.Unread terms and conditions: codes were applied to excluded categories, sale items, or specific product ranges without checking eligibility first.Delivery and shipping thresholds: free shipping codes requiring a minimum order value were sometimes mistaken for blanket offers.

No exact percentage breakdown of failure causes is available. Minimum spend is confirmed as the single most common cause; the other three were not ranked against each other.

“In our view, a code that fails because of an unmet minimum spend is not necessarily a broken code,” said Anderson. “It may simply be a condition the shopper did not see before checkout.”

REGIONAL FINDINGS — NETHERLANDS LEADS

Country Success Rate

Netherlands 81%

Germany 79%

United States 77%

Canada 77%

United Kingdom 76%

Australia 75%

New Zealand 74%

France 73%

Spain 72%

Poland 70%

Italy 70%

Netherlands recorded the highest success rate of the 11 regions tested. Germany followed closely. The United Kingdom matched the overall study average, and Canada and the United States recorded the same rate. Poland and Italy recorded the lowest rates in the study, tied at 70%.

ELECTRONICS OUTPERFORMS TRAVEL

Electronics recorded the highest coupon code success rate of any category tested, at 80%, while travel recorded the lowest, at 69%.

“Electronics codes in our sample tended to carry fewer conditions,” noted Anderson Joe. “Travel codes more often included conditions tied to dates, destinations, or booking windows, which may explain the difference.”

MOBILE SHOPPERS RECORD LOWER SUCCESS RATES

Desktop checkouts recorded a 78% success rate compared with 74% for mobile, a 4-point gap. Researchers said the difference may relate to how terms are displayed on smaller screens, though this was not directly tested.

“We saw a consistent gap between desktop and mobile across our markets,” said Anderson Joe. “We can’t say precisely why from this data alone, but it’s a pattern worth further study.”

ABOUT THE STUDY

CouponDopa tested 1,000 coupon codes across 11 countries during July 2026, across electronics, fashion, food delivery, travel, beauty, and home categories. Codes were manually tested at real checkouts on desktop and mobile. A code counted as successful only when the discount appeared in the checkout total. Failed codes were categorized by reason. Read the complete methodology available at CouponDopa tested 1000 coupon codes in 11 regions.

ABOUT COUPONDOPA

CouponDopa is a multi-regional coupon and discount platform operating across 11 countries. CouponDopa verifies coupon codes across hundreds of brands before publishing, providing shoppers with discount information across major retail categories, including verified codes available on CouponDopa’s store pages.

MEDIA CONTACT

Organization: Coupondopa

Contact Person Name: Anderson Joe

Website: https://www.coupondopa.com/

Email: info@coupondopa.com

Contact Number: +1 (530) 269-6377

Address: 165 ithaca Bayshore NY, 11706 USA

City: Bay Shore

State: NY

Country: United States

Media Contact

Anderson Joe, Coupondopa, 1 631 404-9968, coupondopa@gmail.com, https://www.coupondopa.com/

View original content:https://www.prweb.com/releases/76-of-coupon-codes-work-at-checkout-but-most-failures-trace-back-to-terms-shoppers-never-read-coupondopa-study-finds-302828186.html

SOURCE CouponDopa

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Technology

Global Times: Head-of-state diplomacy shines at WAIC, fostering ties and advancing global governance consensus

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July 18, 2026

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BEIJING, July 17, 2026 /PRNewswire/ — Chinese President Xi Jinping on Friday held a series of high-level meetings on the sidelines of the 2026 World Artificial Intelligence Conference (WAIC) and High-Level Meeting on Global AI Governance in Shanghai, sitting down successively with Thai Prime Minister Anutin Charnvirakul, Cambodian Prime Minister Hun Manet, and UN Secretary-General António Guterres. The bustling diplomatic activity transformed the WAIC from a premier showcase of AI technologies and industrial breakthroughs into a vibrant platform for head-of-state diplomacy and global governance coordination.

Analysts said hosting intensive head-of-state diplomatic events in Shanghai, a core hub of reform, opening-up and technological innovation, carries profound meaning. In addition, Friday’s high-level meetings embody the innovative model of “technology builds the stage while diplomacy takes the leading role.” It not only deepens China’s bilateral relations with ASEAN members, but also helps advance inclusive global AI governance centered on the UN mechanism.

Strategic guidance

According to the two separate official releases by Xinhua, during his meetings with the prime ministers of Thailand and Cambodia, President Xi spoke of the long-standing friendship China shares with both nations. He called on China and Thailand, as well as China and Cambodia, to join hands to advance the development of their respective communities with a shared future.

Furthermore, the Chinese leader stressed the need for China to expand pragmatic cooperation with Thailand and Cambodia respectively across traditional and emerging sectors, and work with each country to jointly crack down on cross-border crimes such as online gambling and telecom fraud, according to Xinhua.

He called for the proper handling of border frictions between Thailand and Cambodia and called on the two sides to resolve disputes through dialogue and consultation, with China standing ready to continue playing a constructive role in this regard, per Xinhua.

During their respective meetings with the Chinese leader, the prime ministers of Thailand and Cambodia both expressed willingness to deepen multi-field cooperation with China and spoke highly of China’s positive efforts to facilitate the peaceful settlement of the Thailand-Cambodia border conflicts.

Xu Liping, Director of the Center for Southeast Asian Studies at the Chinese Academy of Social Sciences, told the Global Times that head-of-state diplomacy has charted the fundamental course for the advancement of China’s ties with both Cambodia and Thailand.

WAIC exemplifies the innovative model of “technology builds the platform, while diplomacy takes the leading role,” said Xu, “In addition, AI cooperation is also expected to serve as a vital entry point to further deepen and substantiate China’s ties with Thailand and Cambodia going forward.”

Furthermore, addressing the sensitive and thorny Thailand-Cambodia border dispute amid the relatively relaxed atmosphere of a tech summit enables all relevant parties to handle differences in a rational and pragmatic manner, which embodies Eastern wisdom and an Asian approach to resolving issues, said Xu.

The year 2026 marks the fifth anniversary of the establishment of the China-ASEAN comprehensive strategic partnership, witnessing the official rollout of the new Plan of Action on the China-ASEAN Comprehensive Strategic Partnership (2026-2030). It also kicks off the implementation of China’s 15th Five-Year Plan.

The critical juncture offers a perfect window to align China’s development plans closely with the national development strategies of Global South countries and ASEAN members, said Xu. “Thailand and Cambodia’s willingness to ramp up cooperation with China mirrors the aspiration of the majority of ASEAN members to leverage China’s development dividends and pursue win-win outcomes and common prosperity in the region.”

Firm support for UN

In his meeting with UN Secretary-General Antonio Guterres on Friday, Xi reiterated China’s firm support for the UN.

Noting that this year marks the 55th anniversary of the restoration of the lawful seat of the People’s Republic of China at the UN, the Chinese leader said China has since been committed to building world peace, contributing to global development, defending international order, and firmly supporting the UN, Xinhua reported.

Xi added that he proposed the vision of building a community with a shared future for humanity and the four global initiatives with one important consideration in mind – to uphold the status and authority of the UN.

Currently, the international landscape is marked by more pronounced changes and turbulence, making it all the more necessary to practice true multilateralism and reinvigorate the status and role of the UN, he said.

Guterres commended China for its steadfast support for multilateralism, the cause of the UN, and international cooperation, saying that China has set an example for the world.

Guterres said the UN will continue to strengthen cooperation with China, oppose unilateralism, protectionism, and hegemonic bullying, safeguard the UN Charter and international law, as well as advance the process toward a multipolar world.

At this pivotal juncture where talks on AI development and UN multilateral governance converge, China, leveraging head-of-state diplomacy as a top-tier platform, has elaborated in a systematic manner its vision for global governance in the AI era, Wang Yiwei, a professor at the School of International Studies, Renmin University of China, told the Global Times.

He added that China’s emphasis on the UN-centered global governance architecture will further strengthen the UN’s authority and operational capacity.

Before the official opening of the WAIC, on Thursday, representatives from 29 countries, including Kazakhstan, Laos, Pakistan, Russia and Indonesia, signed an agreement on establishing the World Artificial Intelligence Cooperation Organization (WAICO) in Shanghai. UN chief Guterres was among representatives from countries and international organizations present at the signing ceremony.

According to the agreement, WAICO will be an independent intergovernmental international organization, which aims to promote international cooperation and global governance on AI, ensuring that AI is beneficial, safe and fair, thereby promoting its healthy and orderly development to benefit all humanity.

President Xi on Friday also announced that in the next five years, China will provide developing countries with 5,000 opportunities in AI training and seminar programs. China will also develop international AI application cooperation centers with the ASEAN, the League of Arab States, the African Union, the Community of Latin American and Caribbean States, the Shanghai Cooperation Organization, and BRICS.

However, some international media, including Reuters and Nikkei, used the term “AI diplomacy” describing the grand gathering in Shanghai, claiming that Beijing seeks a new global AI order, challenging US dominance.

In rebuttal, Wang pointed out that China advocates open, inclusive technology that lets AI benefit all humanity under the vision of “AI for All”. In contrast, the US adheres to a mindset of “All for AI”, weaponizing AI for geopolitical rivalry and aiming to outpace China in technological competition. Driven by the “America First” doctrine and capital-centric priorities, Washington’s approach forms a sharp contrast with China’s.

Meanwhile, China’s resolute commitment to upholding the UN system underscores that for China and a wide array of Global South countries, the sensible path lies in reforming and improving the existing global governance architecture rather than discarding it to build parallel institutions from scratch, the expert added.

This article first appeared on Global Times

View original content:https://www.prnewswire.com/news-releases/global-times-head-of-state-diplomacy-shines-at-waic-fostering-ties-and-advancing-global-governance-consensus-302828946.html

SOURCE Global Times

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