According to the live streaming data in January 2024, Dong Yuhui's and Hui peers lead the way, and there are 3 live broadcast rooms under New Oriental in the top 20.
New Oriental Education & Technology Group is a large-scale comprehensive education technology group integrating education and training, education product research and development, and education services, which was founded by Yu Minhong in Beijing on November 16, 1993.
On September 7, 2006, it was listed on the Hong Kong stock market, and at its peak, New Oriental was the largest educational institution in China, with a market value of more than 240 billion Hong Kong dollars.
In 2021, the national education industry will be greatly adjusted, and New Oriental will almost be as Ma Yun said back then, "Education is there, but New Oriental may not be there." "With the implementation of the double reduction policy, New Oriental's traditional education business collapsed.
Yu Minhong did not sit still in the face of the crisis, he began to handle student refunds, teacher layoff compensation, and donated a large number of tables and chairs to the school, while anxious about the future of New Oriental, he soon decided to make a transformation and set up Oriental Selection to explore the live broadcast of agricultural products. So far, it seems to be paying off. But there are also hidden concerns.
At the beginning, Yu Minhong chose the education and training industry because he grasped the needs of the Chinese people to re-educate and hope that his son would become a dragon, and he thought that it was a traditional industry with good stability. I didn't expect to encounter an existential crisis.
Although the short-term profits of live streaming are considerable, the ceiling is predictable, and the stability and sustainability are doubtful, and Yu Minhong will definitely not be willing to be a live broadcast agency that completely relies on the platform, I feel more inclined to expediency.
Moreover, as a listed company, it lacks a core business with enough imagination space, and it is impossible to be recognized by the market (the current market value of the company is only more than 22 billion, one-tenth of the peak). This is not something that Dong Yuhui can provide enough support, so where New Oriental will go in the future has always been a question for Yu Minhong to think about.