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Original title: New Oriental strikes the gong to rank as the first Hong Kong stocks to become the first thousand yuan stocks Yu Minhong is at a new starting point to interpret the next stage of design.
Summary:New orientalToday’s opening price is 1381Hong Kong dollar, An increase of 16.05% of the issue price, becomingHong Kong StockThe first share of one thousand yuan; at the close, it was reported at 1,365 Hong Kong dollars per share, up 14.71%,Market valueIt reached 230.5 billion Hong Kong dollars.
First return to Hong KongSecondary listingChinese educationthe companyBorn. November 9New oriental(9901.HK) Knock the gong to go public with an issue price of HK $ 1190, announcedNew orientalIt landed simultaneously in two international capitals, Hong Kong, China and the United Statesmarket。
In his speech at the ceremony, New Oriental Chairman Yu Minhong stated that, in fact, New Oriental’s choice to list in Hong Kong for the second time was made in accordance with the general trend of the time, taking into account the company’s future development plans, Chinese and foreign political and economic factors.strategy性 Deployment. “New Oriental’s listing in Hong Kong shares can greatly enrich and enhance the education sector in Hong Kong shares. At the same time, New Oriental can also expand financing channels.Platform strategyIt will be updated even more. Yu Minhong said.
The first thousand shares of Hong Kong stocks
New Oriental’s opening price today was HK $ 1,381, a 16.05% increase from the issue price, making it the first HK $ 1,000 share; At closing, it was reported at HK $ 1,365 per share, an increase of 14.71%, and its market value reached HK $ 230.5 billion.
According to a China Times reporter, New Oriental’s second listing in Hong Kong is expected to raise total funds (before subscription fees and sales fees) of approximately HK $ 10.13 billion (assuming an excessAssignmentRights have not been exercised), or approximately HK $ 11.65 billion (assuming the overallotment option is fully exercised).
In 1993, Yu Minhong opened the first school in Beijing that offered TOEFL test preparation courses for university students. After almost 30 years of operation, New Oriental currently offers K-12 external tutoring courses, language and test preparation courses, comprehensive online education courses, and internal courses. Research and development and distribution of teaching materials.According to Frost & Sullivan, New Oriental has become the largest private education company in China, cumulativelyServiceThe number of students exceeded 55.4 million.
Today, New Oriental’s overall educational ecosystem has reached considerable scale. The total number of students in K-12 tutoring, test preparation, and other courses increased from approximately 6.3 million in the fiscal year ending May 31, 2018 to approximately 10.6 million in the fiscal year ending May 31, 2020 , a compound annual growth rate was 29.7%.
New Eastern TotalNet incomeIncreased from US $ 2.447 billion in the fiscal year ended May 31, 2018 to US $ 3.579 billion in the fiscal year ended May 31, 2020, with a compound annual growth rate of 20.9% ;shareholderAttributableNet profitFrom US $ 296 million in the fiscal year ending May 31, 2018 to US $ 413 million in the fiscal year ending May 31, 2020, a compound annual growth rate of 18.1%.
In 2006, he went to the United States to ring the bell and New Oriental was listed on the New York Stock Exchange, becoming the first Chinese education company to be listed in the United States; in 2019, it became a subsidiary of New OrientalNew oriental onlineIt is listed on the Hong Kong Stock Exchange and becomes the first online education company in Hong Kong stocks. As the first education company in China to be listed on the US and Hong Kong shares, New Oriental officially launched a dual platform strategy; This second Hong Kong listing is the third time that New Oriental has raised market capital.
In the past 14 years, both the development of New Oriental and Yu Minhong’s mood have changed a lot, but New Oriental’s original aspiration and mission for education has not changed. Yu Minhong candidly said that the three listings of New Oriental have seized the best opportunity every time. However, he believes the listing is a “vice” for New Oriental to do a good job in education.product”。
“To this day, the essence of education that New Oriental insists on has not changed, such as insisting on quality teaching as the core, insisting on cultivating the best teachers and growing with students. What New Oriental insists never it has been “playing capital.” Instead, the essence of capital and education are closely integrated, and some truly outstanding ones can rush into the field of education.Educational Productsand service.So we will also andinvestmentPeople repeatcommunicationThey should give New Oriental long-term trust, not temporary trust. They may believe that what New Oriental insists has always been the right thing in the field of education. New Oriental has been listed for 14 years, we want to tell all investors that in the field of education, New Oriental is an institution that can place long-term hope and long-term confidence. Yu Minhong said.
New starting point to embrace change
The outbreak of the new corona epidemic earlier this year led to the closure of a large number of offline training institutions. Furthermore, due to the epidemic sweeping the world, complex and changing relationships between countries have had a considerable impact on the functioning of China’s educational and training institutions.
In response, New Oriental CEO Zhou Chenggang said, “Being at this listing ceremony today is actually a bit dreamy.sensationBecause the outbreak of the epidemic at the beginning of the year put the entire education industry in trouble. “
“During the most difficult period affected by the epidemic, New Oriental has never deviated from the direction of education, and has been introducing and cultivating talent and teaching innovation. When the impact of the epidemic has subsided, it has initiated more reforms. New Oriental firmly believes in the emphasis on products, technology and education.qualityThe investment will be rewarded. “Zhou Chenggang analyzed.
According to the reporter’s understanding, since the end of January 2020, New Oriental has suspended the operation of all learning centers across the country and approvedInternal developmentThe OMO (Online and Offline Integration) system changed offline classrooms to small live online courses. The system played an important role in reducing the impact of the COVID-19 epidemic on New Oriental services and operations.
In the future, New Oriental will continue to focus on the OMO system.
“The successful second listing in Hong Kong this time is a recognition of New Oriental’s past achievements and an expectation for New Oriental’s future development. At a new starting point, we have felt our responsibility heavier.” Yu Minhong said, looking to the future, New Oriental Further embrace change, embrace innovation, embrace science and technology, adhere to the essence of education as always, and use a long-term mindset to improve education. This year, the epidemic has made people feel the power of the combination of education and technology and to some extent has also accelerated the change of study habits of students. New Oriental will seize the opportunity and take OMO as the next stageStrategic layoutAttention.
Yu Minhong also stated, “We will continue to develop online and offline integration systems (OMOs), continue to expand content and teaching services, invest in talents and technical capabilities, and selectively seek strategic investments and partnerships to further strengthen our Market leadership and maximize growth. “
(Source: China Times)
(Responsible editor: DF520)
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