On January 5, New Oriental Online announced on the Hong Kong stock market that the board of directors recommended changing the company’s English name from Koolearn Technology Holding Limited to EastBuy Holding Limited, and changing the company’s dual foreign name from New Oriental Online Technology Holdings Co., Ltd. to Oriental Selection Holdings Co., Ltd. company.

On January 5, New Oriental Online (HK1797) closed up 2.3% at HK$51.1 per share, with a total market value of HK$51.4 billion.

Regarding the reasons for the proposed change of the company name, the announcement stated: As part of the Board’s re-evaluation of our business focus and strategic direction, we recognized that our focus has shifted to live streaming e-commerce and the potential for this area to provide long-term benefits to the Group. the growth potential it brings.

Our current name does not fully encompass all of our current business lines and the brands that are familiar to customers in our principal operating locations. We believe that the new English name and the dual foreign language name can better reflect the development direction and future prospects of our existing business.

Therefore, it is proposed that changing the company name will better align with the company's current and future business directions, enable us to better establish relationships with current and future customers, and promote the long-term brand building of the Group. This enables us to better create long-term value for our shareholders. Therefore, the Board of Directors believes that the proposed change of company name is in the best interests of the Company and its shareholders as a whole.

The annual increase is nearly 9 times, becoming the "most powerful" Hong Kong stock in 2022

On December 30, the 2022 Hong Kong stock market ended, with the top ten bull and bear stocks with a market value of over HK$10 billion. Freshly baked. Among the top ten bull stocks, New Oriental Online takes the title with an annual increase of nearly 9 times; and since 2021, the largest retracement of New Oriental Online’s stock price has reached 89.93%.

According to the Securities Times, a large part of the reason for the rebound in New Oriental Online’s stock price in 2022 is that the live broadcast of its Oriental Selection has become popular this year. Data shows that the number of fans of the "Oriental Selection" Douyin account has reached 29.11 million, and the number of fans of the "Oriental Selection Self-operated Products" Douyin account has exceeded 1 million, becoming Oriental Selection's fourth million-level fan account. The cumulative GMV of the Beautiful Life account has exceeded 680 million yuan, and the cumulative GMV of the Jijinjiu account has exceeded 30 million yuan since its launch.

Soochow Securities stated that accounts such as Oriental Selection, Beautiful Life, and Jijinjiu continue to maintain positive and steady growth, and they are optimistic about the certainty of the long-term growth of the New Oriental model. The bank expects short video platform e-commerce transactions to maintain high growth next year.

China Merchants Securities stated that Oriental Selection’s category/account matrix expansion, self-operated product development and anchor incubation will bring multiple opportunities to the company. GMV is expected to reach RMB 9 billion in fiscal year 2023, and will increase by 12% year-on-year in fiscal year 2024.

In addition, in addition to New Oriental Online, many education and training companies have entered the live streaming e-commerce industry. Among them, TAL has applied for registration of "Xuesi Xinxuan", "Xiaosi Strict Selection", and "Xuesi Selection" " and other trademarks, and launched the "Jiayoupin" live broadcast room; Gaotu also launched "Gaotu Haowu" on Douyin to try the field of live broadcast delivery; DouShen Education has DouShen Selection; SiLe Education has SiLe GO.

Yu Minhong: I would rate myself 8 points in 2022

In January 2023, Yu Minhong published many articles on his personal WeChat ID, Lao Yu Chat, speaking out about his development plan for 2023 .

In "What should we do in 2023?" "In the article, Yu Minhong said, let us think about how we can take the first step in 2023. Maybe as long as we work harder, this year will become a lucky year in our lives. In 2023, we may still face a lot of uncertainty, but one thing is certain: everyone is in the same environment, and change and chance can only come from yourself.

In "Time is a container, what do you want to put in it?" "In the article, Yu Minhong said that he would rate himself 8 points in 2022.

Yu Minhong counted what he did in 2022:

First, there is no doubt that he has stabilized the development of New Oriental.

No matter how things change in 2022, New Oriental will still have more than 50,000 employees in 2022. It does not owe employees a penny in wages or bonuses, and no more employees will be eliminated by New Oriental, but has entered a stable layout. . More than 50,000 employees mean that more than 50,000 families work, live and grow with New Oriental. At the same time, New Oriental's various businesses have entered a stable state after the shock. Although it was very difficult, and everyone knows why it was difficult, after all, we survived and laid the foundation for future development.

Second, because of Oriental Selection. Oriental Selection has achieved leapfrog development from the first fan buying the first order on December 28 last year to the end of this year. Now everyone is doing a New Year’s Eve live broadcast on Hainan Island. The popularity is due to the support of the vast number of fans and friends, and of course it also brings a better development foundation to New Oriental. From a career perspective, I think we have done two things. First, we have stabilized the development of New Oriental and overcame difficulties with New Oriental's more than 50,000 employees. The second is that the development of Oriental Selection provides a new opportunity.