Caixin
Jun 14, 2022 07:53 PM
BUSINESS

Livestreaming E-Commerce Revives Fortunes of Tutoring Giant New Oriental

New Oriental Chairman Yu Minhong and one of the company's tutors host a livestreaming e-commerce session on June 10.
New Oriental Chairman Yu Minhong and one of the company's tutors host a livestreaming e-commerce session on June 10.

Shares of Chinese private tutoring giant New Oriental have rebounded strongly on a surge in users of its new livestreaming e-commerce unit, after a regulatory crackdown vaporized most of its market capitalization last year.

New Oriental Education and Technology Group Inc.’s New York stock has risen 22.4% over the past five trading days, even as the NYSE Composite Index dropped 8.3%. Its Hong Kong-listed online education subsidiary, Koolearn Technology Holding Ltd., jumped 140% from Friday to Tuesday.

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