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Related-Parties Transactions (Tables)
 12 Months Ended
May 31, 2019
Balances and Transaction with Related Parties
The Group had the following balances and transactions with related parties:
(a) Balances:
 
      
Amounts due from
related parties,
current
As of May 
31
,
  
Amounts due to
related parties,
current
As of May 
31
,
 
  
Notes
 
Relationship
 
2018
  
2019
  
2018
  
2019
 
      
US$
  
US$
  
US$
  
US$
 
Metropolis Holding China Limited (“Metropolis”)
 (1) Company controlled by
Mr. Yu		  787   15,581   —     —   
Beijing Dianshi Jingwei Technololy Co., Ltd (“Dianshi Jingwei”)
 
 (2
) 
Equity method investee
 
 
—
 
 
 
15,211
 
 
 
—
 
 
 
—
 
Education Industry Fund
 
 
 
Equity method investee
 
 
—
 
 
 
8,692
 
 
 
—
 
 
 
—
 
Beijing MaxEn International Education Consulting Company Limited (“MaxEn”)
   Equity method investee  374   —   13   207 
Others
 (5)   434   3,160   17   265 
Total
      1,595   42,644   30   472 
    
      Amounts due from
related parties,
non-current

As of May 31,		 
  
Notes
 
Relationship
 2018  2019 
      US$  US$ 
Metropolis
 (1)Company controlled by
Mr. Yu		  2,226   1,204 
Total
      2,226   1,204 
 
(b) Transactions:
 
      Rental expenses
For the years ended May 31,		 
      2017  2018  2019 
      US$  US$  US$ 
Metropolis
 (1)
Company controlled by
Mr. Yu
  6,790   7,899   7,888 
 
       Loans provided to related parties
For the years ended May 31,		 
       2017  2018  2019 
       US$  US$  US$ 
Dianshi Jingwei
  (2)  Equity method
investee		  —     —      61,155 
Haiwei Career
 
 
 (3
) 
 
Equity method
investee
 
 
 3,965
 
 
 
—
 
 
 
 —  
 
Beijing Weixue Mingri Network Technology Co., Ltd. (“Weixue Mingri”)
  (4)  Equity method
investee		  1,733   —     — 
Great Thanks Holdings Limited
     
Company established
by the shareholder
of the equity method
investee
  1,450   —     — 
Total
        7,148   —     61,155 
     
       Revenues
For the years ended
May 31,		 
       2017  2018  2019 
       US$  US$  US$ 
Beijing Fishpond Software Technology Co., Ltd. (“Fishpond”)
     Equity method
investee		  —   —   1,060 
Others
 
 
(6
)
 
 
 
 
90
 
 
 
92
 
 
 
—  
 
Total
        90   92   1,060 
     
       Cost
For the years ended May 31,		 
       2017  2018  2019 
       US$  US$  US$ 
EEO
 
 
 
 
 
Equity securities
without readily
determinable fair
values investee
 
 
—  
 
 
 
—  
 
 
 
2,408
 
Dongfang Heli
 
 
 
 
 
Equity method
investee
 
 
—  
 
 
 
—  
 
 
 
1,064
 
Others
 
 
(6)
 
 
 
 
23
 
 
 
—  
 
 
 
460
 
Total
        23   —     3,932 
        
 
 
  
 
 
  
 
 
 
 
(1)
Since April 2010, the Group began renting a large portion of a building owned by Metropolis for office space. In March 2012, Metropolis was acquired by a company wholly-owned by Mr. Yu, the Group’s executive chairman. As a result, Metropolis became a related party of the Group. As of May 31, 2019, the current and non-current amounts due from Metropolis were US$
15,581
and US$
1,204
, respectively, which represented prepaid rent and deposit for the building and the unpaid cash consideration for acquiring Dongfang Heli. The amount of the rental payments was determined based on the prevailing market rates and was duly approved by the Group’s board of directors.
(2)
In April 2016, the Group sold 51% of the equity interest of its fully-owned subsidiary Dianshi Jingwei and Dianshi Jingwei became an equity method investee of the Group. As of May 31, 2019, there were four outstanding loans provided by the Group to Dianshi Jingwei with annual interest rate of 10% and an outstanding balance of US$15,211. The original period of these loans were 180 days which initially expired and the Group extended US$5,794 loan to October 9, 2019 and extended US$9,417 loan to December 30, 2019. During the year ended of May 31, 2019, no interests were received by the Group. The extended loans were personally guaranteed by Mr. Yu and Mr. Yunhai Jia (“Mr. Jia”), the chief executive officer of Dianshi Jingwei.
 
 
 
According to the loan agreements, if Dianshi Jingwei defaults on the loan payments and interests, the Group has the right to convert the unpaid loans into Dianshi Jingwei’s equity. In addition, a total of US$45,944
loans were borrowed and repaid Dianshi Jingwei within a short period of time during the year ended May 31, 2019. Subsequent to May 31, 2019, another
RMB50 million was extended to Dianshi Jingwei with the extended maturity date on December 31, 2019.
 
 
(3)
In October 2014, Haiwei Career formed a joint venture with the Group. As a result, Haiwei Career became a related party of the Group. In 2018, Haiwei Career was consolidated by the Group through business acquistion. All transaction and balances between the Group and Haiwei Career are eliminated since then.
(4)
The amount due from Weixue Mingri in 2017 represented the non-interest bearing loans provided by the Group to support its daily operation and the outstanding loans were fully written off by the Group in fiscal year 2017. Weixue Mingri was a long-term investment under equity method and carrying amount of such investment was nil.
(5)
As of May 31, 2018 and 2019, the balance in “others” included the current receivables from long-term investees.
(6)
As of May 31, 2019, the balance in “others” included the revenue and cost from long-term investees.
Parent Company [Member]  
Balances and Transaction with Related Parties
The following represented the related party balances as of May 31, 2018 and 2019:
 
  As of May 31, 
  2018  2019 
  US$  US$ 
Amounts due from related parties:
        
Winner Park
  12   12 
Smart Shine
  1,420   1,420 
Elite Concept
  79,171   60,077 
   80,603   61,509 
Amounts due to related parties:
        
Elite Concept
  359   — 
Abundant
  82,487   82,487 
New Oriental China
  6,234   6,234 
   89,080   88,721 
All related party balances were
non-interest
bearing and unsecured. The amounts due to related parties will be paid upon demand.