Sina Technology News August 26 evening news, New Oriental Online Technology Holdings Co., Ltd. (hereinafter referred to as “New Oriental Online” or the “Company”, together with its subsidiaries, collectively referred to as the “Group”) announced the financial results as of May 31, 2022. Year (“Reporting Period”) results.
In fiscal 2022, the total revenue of New Oriental Online was 898.5 million yuan, and the gross profit was 413.5 million yuan, a year-on-year increase of 0.3%. %. During the reporting period, New Oriental Online made significant progress in establishing a new live-streaming e-commerce business “Oriental Selection” centered on agricultural products.
Yu Minhong, Chairman of New Oriental Online Technology Holdings Co., Ltd. said: “Fiscal 2022 is an extraordinary year as we expand our business into multiple areas, enabling us to continuously improve public well-being and create value for society through knowledge sharing. Whether it is for us To provide the transfer of good knowledge to our student group, or to provide high-quality, cost-effective food for our wider customers and members in the future, we will never forget our original intention and unswervingly do valuable things.”
In terms of university business, the total revenue of the university education segment was 517.5 million yuan, and the number of paying students reached 546,000. The average cost of each paying student in the domestic university test preparation formal course business was 1,308 yuan, which maintained steady growth year-on-year.
In terms of institutional clients, the total revenue collected from institutional clients was RMB 58.4 million. In fiscal 2022, New Oriental Online has reached cooperation with JD Logistics Education, Huawei HarmonyOS Hongmeng Ecology, etc. to provide high-quality educational content to more users.
The total revenue of the K-12 education segment was 296.1 million yuan, and the total revenue of the pre-school education segment was 1.9 million yuan. In accordance with relevant regulations, New Oriental Online has terminated related businesses in fiscal year 2022.
In terms of live broadcast e-commerce business, New Oriental Online began to explore this new business in the second half of 2021, and established an e-commerce brand “Oriental Selection” centered on agricultural products, which has made significant progress in this fiscal year. As of May 31, 2022, the total revenue of the live broadcast e-commerce segment was 24.6 million yuan, the gross profit of the segment was 9.3 million yuan, and the gross profit margin was 37.8%.
Going forward, New Oriental Online will continue to develop existing businesses while actively developing new businesses. New Oriental Online said that the live broadcast e-commerce business will become the main growth driver in the future. (Zijian)