Can New Oriental Transformation Reverse Its Fate of Being Strangled by CCP?

On July 24th, 2021, the General Office of the Chinese Communist Party’s State Council released the policy of Opinions on Further Reducing the Burden of Homework and Off-Campus Training for Compulsory Education Students” (referred to as “double reduction”).
With the implementation of this policy, out-of-school training institutions, led by New Oriental will dealt a fatal blow. New Oriental’s Hong Kong share price fell from a record high of HK$158.8 in February 2021 to HK$6.62 in March 2022. In just about a year, it’s down 95.8%.

In order to save the company, New Oriental launched a new live-streaming platform “Oriental Selection” in late December 2021, transforming from education training to live-streaming.

In recent times, with the popularity of anchor Dong Yuhui, the average single-day live broadcast sales of Oriental Selection exceeded 30 million, and millions of fans often flock to the live broadcast at the same time. A bizarre picture appeared in the live broadcast room as fans listened to the teacher who was switching effortlessly between multiple languages to explain astronomy, geography and history while buying bags of rice from the broadcast. The teacher’s humorous explanation with logic, substance and taste, without exaggeration, flattery, weirdness, misleading or premeditation, was so refreshing that everyone forgot that it was a place for selling goods, and shopping has become incidental and natural.

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Translator: OXV 翻译团队 – Kyan
Design&editor: HBamboo(昆仑竹)

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