In 2021, online education stepped on the brakes and suffered an unprecedented "cold winter".
According to the statistics of Ryan capital, as of December 31, 2021, 32 education enterprises from the mainland had been listed in Hong Kong. Of the 32 stocks, 28 closed down last year, of which 14 had a halved market value and only 4 closed up.
On the afternoon of January 8th, Yu Minhong, founder of New Oriental, wrote a document on his official account. He reviewed the 2021 and looked forward to the future direction of transformation. Yu Minhong said that in 2021, the market value of New Oriental decreased by 90%, the revenue decreased by 80%, 60000 employees were dismissed, and the cash expenses such as tuition, employee dismissal n + 1 (compensation) and teaching point rent were nearly 20 billion yuan.
Yu Minhong said, "the development of New Oriental is still my responsibility and mission. It seems that I can\'t help but like it or not. I must go all out. I am determined to work together with you to make new Oriental move to the next stage of development."
Yu Minhong's year-end summary:
New Oriental's revenue decreased by 80%, and 60000 employees were dismissed
"At the beginning of the year, it is the time to summarize the past and plan for the future." Yu Minhong said that on January 4 and 5, for two consecutive days, all departments and subsidiaries of New Oriental headquarters reported on their work, summarized the work in 2021 and deployed the work in 2022.
"All of a sudden, I entered a busy and cumbersome situation. There were a lot of meetings and a lot of disturbing things." Yu Minhong said in the article.
Yu Minhong said that in 2021, New Oriental encountered too many changes. Many businesses are in uncertainty due to policies, epidemic situations, international relations and other reasons. In the past six months, with everyone's efforts, New Oriental has managed to survive and preserve some strength. During the ups and downs of the backbone, the vast majority of people united, worked together in the same boat and worked hard in the wind and rain.
Yu Minhong said that the market value of New Oriental fell by 90%, the operating revenue decreased by 80%, 60000 employees were dismissed, and the cash expenses such as tuition, employee dismissal n + 1 and teaching point rent were nearly 20 billion. In this process, New Oriental decided to stop the ground and online training of K9, break the arm of heroes, and do more projects to provide services for the comprehensive growth of students, such as quality, literacy, research and camp education. At the same time, it decided to increase its investment in the college student market and overseas Chinese market.
Yu Minhong particularly mentioned the selection of New Oriental's live delivery platform.
Yu Minhong said that New Oriental online, with Hong Kong listed companies as the main body, established the Oriental selection live selling system and transformed it into an e-commerce platform with Shenzhen Agricultural Products Group Co.Ltd(000061) screening and sales as the core, providing product value-added services for farmers all over the country and a trustworthy platform linking farmers and consumers.
Yu Minhong finally said, "we should do certain things in uncertainty." The so-called uncertainty means that the situation and policies are still changing. We should adapt to the changes of the situation and policies and look for development opportunities in line with the major policies; The so-called doing certain things is always doing things that are valuable, help others and help social progress, that is, "cultivate yourself and benefit others"
no Yu Minhong's live studio
sells less than 900000 a week
It is worth noting that since the "double reduction", almost all after-school training institutions have begun to try transformation. As the "big brother" in the industry, New Oriental has stepped up its transformation layout outside the field of education. Business information shows that in the last three months, New Oriental has successively invested and established a number of new companies, covering a variety of fields, including software development, career intermediary, food management, Internet information service, fertilizer sales, intelligent Siasun Robot&Automation Co.Ltd(300024) R & D, educational hardware, etc.
As one of the teaching and training giants, XRS teaching auxiliary books sold well on the Internet after announcing the suspension of K9 discipline training business. "Learning and thinking books" are sitting on 268 thousand fans in the chattering sound. The broadcasting sales include the learning books, intelligent learning machines and other products, including tiktok reading, mathematical thinking, etc., and many of the books are sold in advance. The highest sales volume of "thinking innovation clearance" reached 25000, and the sales volume of books such as "xuersmobi love literacy" and "xuersmobi love mathematics" exceeded 10000. The announcement on the front page of the store also called on everyone to buy teaching auxiliary books rationally, and said that at present, a variety of book products have been sold out and are being replenished all over the country.
In addition, tal, ape counseling, Netease Youdao, excellence education and other head education institutions have adopted the way of "walking on multiple legs" for multi line layout. Quality education, adult vocational education, intelligent education hardware and other directions have become the most popular track.
However, the road of transformation is not easy.
Take the live delivery of New Oriental as an example. According to the data of feigua, a third-party data platform, on the day of its premiere on December 28, the sales of Yu Minhong's live studio reached 4.932 million and the number of viewers reached 1.869 million. The live broadcast increased 44000 fans to the account.
But since then, without Yu Minhong's personal appearance, the popularity of live broadcasting of New Oriental has decreased significantly.
From the live broadcast data, the broadcast has been intensively launched since December 28, and the Oriental selection basically maintains the live broadcast duration of 3 to 4 hours a day. However, the results of live broadcasting are not brilliant. The number of visitors is basically only 100000, and the sales are around 200000. According to feigua data, the total sales of seven live broadcasts from December 29 to January 4 were less than 900000.
(source: Daily Economic News)
