A good “fire” in the future will affect the online education “pond fish” of Hong Kong stocks.
As of midday rest, the Hong Kong Hang Seng Index fell by 0.99%. The online education concept sector once led the decline in all sectors after the opening, and after bottoming out With the broad market rebound, the mid-day decline was 1.18%.
Futu Niu Niu data shows that there are three stocks in New Oriental Online, NetDragon and Excellence Education Group in the Hong Kong stock online education sector. Among them, New Oriental Online, which has the highest market value, fell more than 6% in the morning.
Hong Kong Hang Seng Index and online education concept (right) morning trend comparison (Image source: Futu Niuniu)
In the news, New Oriental Online, NetDragon, and Excellence Education Group have not had any events directly related to the company. In the morning, stock price changes, in addition to the impact of the Hong Kong Hang Seng Index fluctuations, or from good employees Counterfeit effects.
After the US stock market on April 8, Good Future announced that during the regular internal audit process, it was discovered that certain employees had illegal activities in the sale of newly launched light lessons, conspired with external suppliers, and forged contracts. Documents, mistakenly exaggerating sales data for light lessons. In response, Good Future has called the police, and this employee has been detained by the local police.
Light class is the online light learning platform of Haowei. It focuses on the discipline literacy training of 6-12 year old primary schools. Its sales account for 3% to 4% of the total revenue in the future fiscal year 2020, which is $ 94 million -1.25 One hundred million U.S. dollars.
Affected by the news, as of press time, the good after-hours decline was 17.77%. New Oriental, which is also listed on the US stocks, had a decline of 4.61%, with whom to learn after-market declines of 10.57%, and NetEase ’s after-market declines were 3.51%.
Before the announcement of Good Future, the shares of Good Future and New Oriental closed up more than 3% on the same day, and who followed Xuexue and Netease were down 3.51% and 1.61% respectively.
Public data shows that New Oriental Online is an online education website owned by New Oriental. On January 20, New Oriental Online’s interim results report as of November 30, 2019 showed that during the reporting period, New Oriental Online’s total revenue was 568 million yuan, an increase of 19% year-on-year, and a net loss of 87.516 million yuan, compared with the same period of the previous year Further expand.
Good future light class employees exaggerate sales data, New Oriental Online ’s net loss has expanded, who is still being questioned, and NetEase Youdao ’s marketing costs remain high. Against the background of Ruixing’s fraud and iQiyi being short, I’m afraid the life of online education stocks will be even worse.
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