Beijing Business Daily | Author Zhao Boyu
Oriental Selection, which has just emerged from the "little composition" crisis, is accelerating the layout and operation of Dong Yuhui's independent IP and the divestment of the education business. On December 27, the number of fans of Dong Yuhui's independent IP account "Walking with Hui", which was just launched on Douyin, exceeded the 1.3 million mark, with the number of fans increasing by more than 1 million in a single day. The account made it clear in the introduction that the first live broadcast will be held on January 9, 2024. At the same time, Oriental Selection also announced on December 27 that the board of directors has approved Oriental Selection’s proposed sale of its education business to parent company New Oriental for a total consideration of 1.5 billion yuan. After the sale is completed, Oriental Selection will no longer operate in the field of online education and become a specialized operator of self-operated products and live broadcast services.
"Walking with Hui" has gained over one million followers in a single day
"Young man, you have to realize your dream in person, and you have to see the world in person." Along with the familiar "Dong Yuhui" style, the Douyin account of "Walking with Hui" has been on the 12th The first video work was released at 8 pm on the 27th. At the same time, the topic "Learning with Dong Yuhui on Douyin" also appeared on the Douyin hot list. At present, the account has opened a product display window, but no products have been put on the shelves. The introduction clearly shows that the account's first broadcast time is January 9, 2024.
A reporter from Beijing Business Daily noticed that although the "Oriental Selection" Douyin account has not promoted the "Walking with Hui" account, with the support of "Dong Yuhui" IP, the account has achieved an increase of more than 1 million followers in a single day. Amazing size. Data shows that on December 26, the account "Walking with Hui" had less than 100,000 followers. As of 9 p.m. on December 27, the account had more than 1.3 million followers.
At present, the certification body of the "Hehui Pong" account is Hehui Pong (Beijing) Technology Co., Ltd. Tianyancha information shows that the company is composed of Dong Yuhui as the legal representative, executive director and manager, Yu Minhong as the supervisor, and Beijing New Oriental Xuncheng Network Technology Co., Ltd. wholly-owned shares.
In a previous live broadcast, Dong Yuhui and Yu Minhong revealed that a special studio will be set up for Dong Yuhui to facilitate Dong Yuhui to maximize his expertise. The income generated in Dong Yuhui's independent studio will be included in Oriental Selection, which not only ensures the interests of Oriental Selection, but also ensures the maximum expression and freedom of personal abilities.
The pace of divesting the education business has accelerated
It is worth mentioning that at the same time that the "Walking with Hui" account was launched, Oriental Selection also issued an announcement on December 27 to disclose the latest progress in divesting the education business. According to the announcement, the sale is part of the business restructuring of New Oriental Group, which aims to more clearly divide business lines and better align its business units with the operating environment. The subjects of the sale of
mainly include the entire equity of Dongfang Youbo (Hong Kong) Education Co., Ltd.; the entire equity of Beijing Kuxuehuisi Network Technology Co., Ltd.; the entire equity of Xi'an Ruiyinghuishi Network Technology Co., Ltd. and the group-operated university education and related assets of the institutional client business segment. According to the
announcement, the sale of the business Oriental Selection is expected to record a profit of approximately 1.653 billion yuan. After the completion of the sale, the industries operated by Oriental Selection and New Oriental Group will be differentiated and different from each other. Oriental Selection will no longer operate in the field of online education, but will become a specialized self-operated product and live broadcast business operator. At the same time, there are no longer any related-party transactions related to education business between Oriental Selection and New Oriental Group.
As for the proceeds from the sale, Oriental Selection stated in the announcement that the proceeds will be used for marketing and sales, talent onboarding and retention, research and development, general development and operation of self-operated products, live broadcast business and general working capital. From the capital market perspective, on December 27, the closing price of Oriental Selection was HK$26.85, a decrease of 6.93%.
In response to the recent actions of Oriental Selection, Yu Miao, the founder of Sulu Consulting, pointed out in an interview with a reporter from Beijing Business Daily that New Oriental (Dongfang Selection) has largely possessed certain " Uniqueness”. However, new fields have new value laws and new industry rules. The current New Oriental (Oriental Selection) is still in a game of whether to adapt to the rules or use its own special strength to revise the rules.
"The long-term development of Oriental Selection and Dong Yuhui in the future remains to be tested by time. However, Oriental Selection's move to divest the education business is undoubtedly to prepare and accumulate for its full development of e-commerce business, and also to make its business more concentrated and vertical. measures." Yu Miao said.
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