Every hot comment | The logic of the rise of New Oriental Online is not necessarily applicable to other teaching and training stocks

After the bilingual live broadcast of the goods, New Oriental Online (HK01797, the stock price of HK $ 28.60, a market value of HK $ 28.62 billion) has continued to rise, and the increase is more than 30%. The rise is still accelerating. In just 5 trading days, New Oriental's online stock price has risen by nearly 6 times. Even if the Hong Kong stock market with no limit on daily limit boards is extremely rare, such a violent continuous surge. As the parent company of New Oriental Online, New Oriental -S has also risen more than 30%in the last 5 trading days.

After the rise of New Oriental Online, Hong Kong stocks and A -share education stocks have also been driven together: as of the closing of the 16th, Tianli Education has risen by 105%, and the increase in music education and Guangzheng education has also increased by more than 40%; Quanyong Education and Dou Shen Education's "20cm" daily limit, studying the "10cm" daily limit of Education and Angli Education.

However, the author believes that the rise in the stock price of New Oriental's online online is the result of a comprehensive role of various factors and a very special case.

First, the live broadcast of New Oriental Online is the founder of the founder Yu Minhong's clear transformation. He himself also devoted a lot of energy to this. Although the previous live broadcast score was mediocre, after many explorations With the breakthrough, the transformation path is destined to be difficult. There are not many teaching and training enterprises with a clear direction of transformation, and there are very few hopeful hope of finding the transformation. Second, the live broadcast is an industry that requires traffic and transactions as support. The first step is the most difficult. As an old -fashioned giant in the education industry, New Oriental is almost synonymous with English -speaking training. Bilingual live broadcast cleverly combines the existing strong brand image of New Oriental and the new live broadcast business. The user group accumulated by the business has been transformed into the live broadcast business. There are few such brands and users accumulating other educational brands, and quality education and pure test subject education either have scene restrictions (some teaching can only be offline) or Some user groups are restricted (only the students take the test), and the success path to replicate New Oriental is very difficult.

If Yu Minhong mobilizes and leads all employees as "people", the advantages of the brand and user scale accumulated in New Oriental over the years are "geographical", and its stock price falls from HK $ 43 to Hong Kong dollars below 3 yuan is passive "Tian Shi" When the stock price happened to be popular at the absolute low level, the market's positive emotions may emerge at any time. And other educational stocks have risen, and more are just the manifestation of the "time" -the recent rebound of Hong Kong stocks and A shares has rebounded sharply. At the moment of rebound, the rise of New Oriental Online became the best catalyst at this time. However, it should be noted that due to the lack of substantial fundamental favorable information support, the room for rising other educational stocks is obviously far less than that of New Oriental Online.

Now that the successful transformation of New Oriental Online is still too early. After all, the core of the live broadcast and cargo is "goods" instead of "bilingual". Bilingual live broadcast is the weapon for opening the situation. The continuous operation of the subsequent operation still needs to return to the logic of the live broadcast. Although the front road is not flat, New Oriental still provides solutions for the transformation problem of other peers. For example, the direction of the transformation should be clear and clear, and the time to facing the pressure of cash flow should be moved quickly; The transformation is as long as possible; the core team must take the lead in testing the new business, and personally try and error in order to quickly adjust the skills. In the future, the success of New Oriental will not be just a case. I hope that more teaching and training companies can find new development directions after giving efforts and wisdom.

Daily Economic News

- END -