New Oriental Ferry
Editor’s note: This article is from WeChat public account“Node Finance” (ID: Jiedian2018), author Aoki; authorized to publish.
New Oriental, which has been established for 26 years, has gradually entered the middle ages by juveniles who have enjoyed the golden breeze of the times, and has not escaped the dilemma of the middle-aged crisis.
Recently, New Oriental announced its financial results for FY 2019. According to the annual data, New Oriental’s net income for the fiscal year of 2019 was 3.096 billion US dollars, an increase of 26.5%; the annual operating profit was 306 million US dollars, an increase of 16.2%.
New Oriental Board Chairman Yu Minhong is very satisfied with this performance. “New Oriental’s 2019 financial year ended successfully. The annual revenue continued to grow and the operating profit margin improved. We are very satisfied with this.”
But it is worth noting that the annual net profit of New Oriental 2019 is 238 million US dollars, down 33.5% year-on-year. The online education giants of the past are facing unprecedented challenges.
New Oriental with exclusive bonuses
New Oriental was founded in 1993, when the education and training industry was almost a wilderness. However, the demand for English-speaking English training began to rise. With the opportunity of the times, New Oriental began to dominate the education and training industry.
Since 1995, New Oriental has entered a period of rapid growth, and the number of students enrolled each year has increased by more than 100%. However, in a decade, the number of students in New Oriental has increased from 3,500 in 1994 to 750,000 in 2004, an increase of more than 200 times.
In 2006, New Oriental was listed in the United States. After one year, the market value exceeded 10 billion, and both fame and fortune were closed.
Today, on the New Oriental website, we can see full-chain English training from young tutoring to university counseling to studying abroad. At the same time as the development of New Oriental, the regulatory authorities have tightened the management of online tutoring in primary and secondary schools. There are always competitors in the K12 education field. In addition to facing the competition of traditional offline education institutions, New Oriental must also respond to emerging segments. And technical challenges.
The middle-aged crisis that escapes
New Oriental (NYSE: EDU) 2019 Annual Financial Results Report shows that the number of students enrolled in the fourth quarter of New Oriental 2019 was approximately 275,600.