New Oriental has a new move - the layout of the cultural and creative industry
New Oriental Cultural Tourism established a cultural and creative company, with Yu Minhong as the chairman
On July 8, according to Tian's investigation, Beijing New Oriental Wokaide Cultural and Creative Co., Ltd. was established on July 4, with a business scope of Internet sales, digital creative product exhibition and display services, digital cultural and creative software development, tourism development project planning and consulting, etc., the company's legal representative and chairman of the board of directors is Yu Minhong, chairman of Oriental Selection, with a registered capital of 10 million yuan.
Yu Minhong, sudden news!
From the perspective of equity relations, the newly established cultural and creative company is another expansion of New Oriental's cultural tourism business sector.
According to the information of Tianmoucha, Beijing New Oriental Wokade Cultural and Creative Co., Ltd. is a wholly-owned subsidiary of Beijing New Oriental Wokade International Education Travel Co., Ltd., and is wholly owned by Beijing New Oriental Cultural Tourism Co., Ltd. after further equity penetration.
Yu Minhong, sudden news!
Beijing New Oriental Cultural Tourism Co., Ltd. (hereinafter referred to as "New Oriental Cultural Tourism") was established on July 19, 2023, with a registered capital of 1 billion yuan, the company is served by Yu Minhong as the legal representative and chairman, and its business scope includes tourism business, tourism development project planning and consulting, and organization of cultural and artistic exchange activities. In December 2023, Yu Minhong issued a document announcing that Dong Yuhui will also serve as vice president of New Oriental Cultural Tourism Group.
Yu Minhong, sudden news!
Yu Minhong: The cultural tourism sector will be listed separately in the future
On April 26 this year, when the headquarters of New Oriental Cultural Tourism was unveiled in Haidian, Beijing, Yu Minhong said that the cultural tourism sector will be listed separately in the future, becoming the third listed company under New Oriental Group, which is enough to see the importance and expectation of New Oriental to the cultural tourism business.
Economist Song Qinghui said in an interview with the media that the market size of the cultural tourism track is large, and New Oriental Cultural Tourism intensively cooperates with local cultural tourism, which reflects the performance anxiety and impulse of New Oriental.
Dongfang Selection's live streaming business has encountered a crisis
New Oriental's vigorous layout in the cultural tourism business also reflects the company's transformation anxiety to a certain extent, and in the face of the fading dividends in the field of live broadcast e-commerce, New Oriental is looking for new business growth points.
In recent years, Oriental Selection, a subsidiary of New Oriental, has gradually occupied an important position in the live streaming industry and has become a trusted brand in the hearts of many consumers. Recently, however, the company has suffered a series of crises.
On May 31, Yu Minhong bluntly criticized Dongfang Selection's operation in a live broadcast, calling it "messy." This remark quickly sparked a storm of public opinion and caused the company's stock price to plummet by 21.83% in five days. Although Yu Minhong later apologized publicly, consumers and investors did not buy it, and the stock price did not stop falling and recovered.
Yu Minhong, sudden news!
Oriental Selection's stock price has been cut in half this year
On June 9, Dong Yuhui, another important figure in the company, expressed his disgust with live streaming in a variety show, which once again triggered negative sentiment in the market, and the number of followers of Dongfang Selection's Douyin account declined, further hitting the stock price.
It is worth noting that in addition to the above incidents, there have also been rumors on the Internet about Dongfang Selection's "requirements and collection of pit fees and publicity fees", although the company quickly issued a statement to refute the rumors and emphasized that it will take up legal weapons to defend its own rights and interests, but these rumors still affect the public's trust in Dongfang Selection to a certain extent.
As of July 8, the number of fans of Dongfang Selection's Douyin account fell below 30 million again, to 29.923 million. In December last year, due to the fermentation of the "small composition turmoil", the number of fans of the Oriental Selection account fell below 30 million.
At the same time, the share price of Oriental Selection also fell one after another, and on July 8, the share price of Oriental Selection fell by 5.41%, hitting a new low in two years. In the long run, as of July 8, Dongfang Selection has pulled back 57.27% this year, and its stock price has fallen by nearly sixty percent.
Source: Brokerage China, Tianyancha, public information
Produced by the Propaganda Department of the Wujin District Committee of the Communist Party of China
