At 8:00 p.m. on December 28, Yu Minhong, the founder of New Oriental, opened New Oriental's first live broadcast to help farmers on Douyin, in which he introduced the new platform "Oriental Selection" launched by New Oriental, and said that he would appear from time to time. In the first live broadcast, Yu Minhong brought dozens of agricultural products.
It is reported that as a new Oriental agricultural products live streaming platform, Oriental Selection belongs to the company of Oriental Preferred (Beijing) Technology Co., Ltd. (hereinafter referred to as: Oriental Preferred), New Oriental Online is the 100% controlling shareholder behind Oriental Preferred, and Sun Dongxu, CEO of New Oriental Online, serves as the legal representative of Oriental Preferred.
According to data from the third-party data platform, as of 23:10 on December 28, Yu Minhong left the live broadcast room, and his live broadcast with goods turnover (GMV) was 3.8065 million yuan, the estimated sales volume was 45,300 pieces, and the cumulative number of viewers was 1.4776 million. During the live broadcast, the number of views in its live broadcast room once rushed into the top three of the Douyin with goods list.
However, in comparison, Yu Minhong's performance with goods is slightly inferior. Luo Yonghao made his debut, with a maximum of 2.7 million people online at the same time, and the cumulative number of viewers of the entire live broadcast exceeded 48 million, with a total transaction volume of more than 110 million yuan.
Yu Minhong lost his debut, and the stock price of New Oriental Online plummeted. On December 29, New Oriental Online (01797. HK) opened quickly diving, falling more than 22% at one point and plunging 20.11% by midday.
On the consumer side, it is generally reflected that the unit price of the products brought by Yu Minhong is too high, such as 8 flat stone alpine apples selling for 68 yuan and pickling gift boxes priced at 428 yuan. In this regard, Yu Minhong said on the live broadcast yesterday, "What we bring is not necessarily the cheapest agricultural product category, but it must be the best agricultural product." These produce are green and pollution-free, so the cost of growing is also higher. ”
With the changes in the regulatory environment for education and training, the 2021 Hurun Rich List shows that Yu Minhong's personal wealth has shrunk from 26 billion yuan last year to 7.5 billion yuan. Whether it is for New Oriental or Yu Minhong, transformation is imperative, but whether the "crowded" live broadcast is a way to go must be drawn with a question mark.
Stay tuned for more information
![New Oriental disclosed a net loss of 5.7 billion that night, Yu Minhong live-streamed 1.6 million with goods[fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)