Sanyan Finance News on February 1, today, Yu Minhong shared his speech at the 2022 Chinese New Year Gala of New Oriental Education and Technology Group on his personal public account. Yu Minhong said that the difficulties and twists and turns in 2021 are indeed a major test for New Oriental.
Yu Minhong said that the money that should be refunded to parents and students has been refunded; the "N+1" that should be given when employees leave has also worked hard to give; New Oriental has withdrawn more than 1,000 teaching points, most of which are peaceful solutions; and excess desks and chairs, teaching equipment, and so far has donated about 150,000 sets.
Yu Minhong also said, "2021 is very difficult for us, but towards 2022, we may have a very good start." ”
The following is the full text of Yu Minhong's speech:
Dear Friends of New Oriental,
Good afternoon, everyone! happy New Year! Happy Year of the Tiger!
The annual online annual meeting has been held three times in a row, we once held an annual meeting of tens of thousands of people in the stadium, due to the epidemic and other reasons, now moved online, but there is a benefit, we all over the country New Oriental celebrate the arrival of the New Year online, and the new year is booming.
2021 is our worst year, but we have withstood the test
First of all, I would like to express my gratitude to all new Oriental people, including those who have left New Oriental and those who are still working hard in New Oriental.
New Oriental's nearly thirty years of development and growth are the result of our little by little efforts. From the establishment of New Oriental to today, we have encountered many difficulties and twists and turns, but the difficulties and twists and turns in 2021 are indeed a major test for us. With the joint efforts of all of us in New Oriental, we have withstood such a test, and also in such a difficult test to 2022, we have taken a passing score, everyone knows that in this process, many similar education and training institutions, as well as some other education-related institutions, most of them have not withstood the test, more or less in the difficulty of extricating themselves.
We in New Oriental have a very good account from the social repercussions to the attention of the relevant departments. We have returned the money that should be given to parents and students; the "N+1" that should be given when the staff leaves, we also work hard to give; New Oriental has returned more than 1,000 teaching points, many of which have just been renovated and not used, and the return has also been withdrawn, and our collaborators have also had relatively good consultations, most of which are peaceful solutions; excess desks and chairs, teaching equipment, we donated to primary and secondary schools in rural areas and mountainous areas, we have also donated, so far we have donated about 150,000 sets. In the process, we went all out to find and launch new business, and we quickly found some new directions.
Although New Oriental is a large company, we have a weakness, and this weakness is that our systematic and standardized management capabilities are not enough. But this weakness became our strength in this change, our strength. Every department and every school in New Oriental is carrying out self-help and innovation, and I am very touched by such self-help and innovation. We have many schools and departments that have developed new products and new business models, and are trying to learn from each other. In the whole process, the spirit of cooperation of New Oriental, the spirit of unity in the face of difficulties, going all out, and not considering personal interests and losses, has also been very well embodied in New Oriental.
As of today, New Oriental's ground K9 training business and online K9 training business have been completely stopped. New business has also made a good start, for example, New Oriental's quality education system is constantly being built, New Oriental's literacy education system also has a lot of good products and research and development, in the past we have done study tours, research, camp education, our schools and group centers cooperation, but also go all out to promote and develop. At the same time, in the face of K9 families, for the needs of children's self-learning learning materials and learning systems, all departments of New Oriental are also making every effort, and under the premise of conforming to national policies, we are carrying out new business step by step. Our original business has a good foundation, such as university business, overseas business, books, overseas consulting, etc., is still in a relatively smooth and stable development.
All in all, we have dealt with the problems left over from the past, but left a very good foundation for development. In the past, in the case of crazy capital investment in the field of education, New Oriental was not completely tempted and impacted by capital and retained a certain economic strength. Today, economic strength can be used to lay a good foundation for our future development. So 2021 is tough for us, but we may have a very good start to 2022.
Second, the "crisis", we have solved the "crisis", where is our "opportunity"
The word "crisis" can be said to be a combination of "crisis" and "opportunity", "crisis" is the difficulty we encounter, we have more or less passed a large part; "opportunity" is the opportunity we encounter in the future. Everyone knows that the opportunity is often at the cost of smashing an old system, if we automatically smash the system of the past New Oriental, it is actually not easy, because no one wants to demolish the high-rise buildings they built, but when the high-rise buildings are demolished one day, what we think about is no longer to remember how brilliant our high-rise buildings were in the past, but how we can rebuild our new high-rise buildings, that is, rebuild our careers.
Just now I said that New Oriental actually has a very good foundation, an economic foundation, and more importantly, we have a talent base. What moves me very much is that a large number of employees and teachers who left New Oriental left with tears in their eyes, and they are full of feelings for New Oriental, and we have just seen on the video that our remaining employees are really going all out and are trying to think about the future development direction of New Oriental.
Talent is the foundation for the further growth of our New Oriental in the future. There is an economic foundation, a talent foundation, and a platform foundation. In the education and training institutions, there are not many listed companies that are closely connected with the market, new oriental has two listed company platforms, this platform foundation also means that we can better connect with the world resources and With China's resources, so I personally think this is just to give us an opportunity to redefine the development of New Oriental.
Over the past many years, I have always said that New Oriental is a place where Chinese children grow up in an all-round way and grow up happily. I believe that this sentence is not unfamiliar to everyone, we all hope that children will grow up in an all-round way, our educational philosophy of "lifelong learning, global vision, independent personality, social responsibility", in fact, the definition is that children in addition to subject education, we want to give children a broader growth space, I think this time just gave us such an opportunity, in fact, when we face the children's comprehensive growth, the education system is fully reorganized, my heart is still more excited, we can immediately see our transformation. In the discipline competition of national education and training institutions, we have to follow suit, or we have to find a way to lead in a certain field, because subject education has become the unified direction of all education and training institutions, and if we do not follow, we seem to feel that we cannot survive. But today's subject education can be put aside, followed by the education of children's all-round growth, this thing has emerged.
You only need to look at the merger of our two departments of "Bubble" and "Youneng", and our name can be seen, called "Growth Center", which is to turn the concept of "growth" into a core concept of ours. "Growth", you can see the change of our direction, the original "R & D center", are for the curriculum and teachers of various schools to provide services, we must now independently develop independent products that all Chinese children and parents like, which is a very good change.
Looking at our "New Oriental Online", it turned out to be a state of constantly joining various courses, primary and secondary schools online subject training, to grab business with the ground, and also to compete with other institutions, which can be said to be a state of mutual loss, rather than complementarity. Under the premise of the present, we begin to become a complementary state.
This morning, the online board of directors also told them that our EDU, which is the platform of New Oriental Headquarters as the core, turns the comprehensive growth of children, plus products and courses for children to provide comprehensive growth, into our core development model. Online can become through product development into a specific product, coupled with the national sales of these products, to present such a model.
You just saw that we are making agricultural products online, and this is just one of the entrances. In the future, we will make more and more education-related products, including books, electronic devices, software and hardware. Through such a platform and cooperation with various relevant collaborators across the country, a relatively good upstream and downstream relationship can be formed in New Oriental.
Our EDU does a variety of research and development, including content, platform, question bank, etc., and exports will continue to go to the whole country through our sales platform, and even to the world. We can also link up with the very valuable educational institutions in the country and the institutions that make very valuable educational products in the world, so as to create good opportunities for our development.
New Oriental's foundation coupled with our research and development, the future will become a virtual plus reality of the New Oriental development system, software plus hardware of the New Oriental product system, the ground plus online of the New Oriental operation system, indoor and outdoor new Oriental scene system, domestic and foreign New Oriental China and even the world's products and teaching and content layout scenes. These spaces actually give us a lot of imagination.
Everyone may feel that what happened in 2021, the blow to New Oriental and the blow to Yu Minhong, frankly speaking, the initial depression existed, but after this feeling passed, in fact, it brought me and brought to New Oriental, which is an endless new development opportunity in the future. On the whole, I think that Starting from 2022, New Oriental is a new stage for our New Oriental to start again and become brilliant after more than 20 years.
Third, the core strength currently retained by New Oriental is energy, fire, potential and future! Carry forward the spirit of cooperation and innovation of New Oriental, and create a new New Oriental!
I just mentioned the power of man, which is one of the most important forces for us. Today, there are more than 50,000 employees, teachers, managers and more than 50,000 employees participating in the New Oriental Annual Meeting on the entire platform, which is the real core force that we have retained from nearly 120,000 people and gradually reducing the number of personnel to today. The core strength of those of us who remain is the energy of New Oriental, the fire of New Oriental, the potential of New Oriental and the future of New Oriental. Bringing together so many people to unleash our creativity, our imagination, our practical ability and execution. I believe that we can do a lot of things in the direction we want, and maybe we can pool our wisdom and maybe do more along the path of innovation and breakthrough.
There is a saying called "10,000 years too long only to fight for the day", New Oriental after spending the past time, has ushered in the development opportunity of only the day, let us work together to carry forward the innovative spirit of unity and cooperation of New Oriental, from today to create a new new Oriental in the future.
Fourth, everyone who leaves New Oriental is a fire, will bring out the spirit of New Oriental and the courage of New Oriental, take away the spirit of never giving up, and forge ahead on their respective life paths!
For those friends who have left New Oriental, on behalf of New Oriental, I would also like to express my deep gratitude to you on behalf of myself! Because you have made important contributions to the development of New Oriental. It can be said that without you, there would be no glory and achievements of New Oriental in the past nearly 30 years. Of course, I also believe that everyone who leaves New Oriental is a fire, will bring out the spirit of New Oriental and the courage of New Oriental, take away the spirit of never giving up, and forge ahead on their respective life paths! I also believe that in the future, you who leave New Oriental will definitely have the opportunity to meet New Oriental, and even return to the embrace of the big family of New Oriental. No matter what, no matter where you are at the end of the world, whether you are in New Oriental or not, we will warm up with you, help each other, and make progress for each other.
Fifth, hardship is the reason for the weak to lie down, and for the strong, it is the driving force for hard work.
Whether it is life or career, it will encounter all kinds of difficulties and hardships, and will encounter all kinds of unexpected twists and turns and difficulties. But hardship is a reason for the weak to lie down, and for the strong, it is a driving force for hard work. We deeply know that our road will be very bumpy and tortuous in the future, but we also believe that our footsteps, the footsteps of New Oriental, will be more determined!
I believe that as long as there is a distant place in our hearts, we have the courage and belief to go through the storm, and we have hope and expectation for a new future. When we have a distant place in our hearts, we have no reason to stand still, we have no reason to stop the flag, the only scene that makes us excited is to face the future, charge forward together, wave the flag and drum, and move towards a more brilliant future.
2022 must be better than 2021!
2022 is still an unusual year, the epidemic is not over, policies will still change, the international situation is often uncertain, and we are still living in uncertainty.
But we believe that as long as we continue to work hard, 2022 will be better than 2021, for this uncertain storm, many people may no longer be brave to stand at the head of the tide, but I believe that New Oriental people will be more courageous to find certainty in uncertainty, in the uncertainty to stand at the head of the tide, the heart will be more determined. Because What New Oriental does is more beneficial to our customers, more conducive to the growth of students, and more helpful to everyone we need to help.
The reason why we "Oriental Selection" have to try in the direction of agricultural products is because I think the people at the bottom of China's rural areas really need people like us to be able to appear. Just now, when I was talking to Xiao Dong, I positioned myself as an "entrepreneur farmer" because of this meaning, because as an "entrepreneur farmer", I must be able to mobilize more systems and resources, can see this matter from a higher perspective, and provide more help for the people.
As we all know, New Oriental's eight-character policy is "cultivate yourself and benefit others". On the one hand, we in New Oriental must continue to cultivate ourselves, so that we can become more and more able to blaze new trails, enhance our own realm, and enhance our own pattern; on the other hand, we must always keep in mind that no matter what we do, we are doing it on the premise of benefiting society and benefiting others, never doing selfish things, never doing things that do not let others live for ourselves, and never doing things that are harmful to society or the people. This road will not be too easy to go down, and everyone needs to have the courage to make progress and constantly innovate. With everyone here, we will definitely get better and better! The road is obstructed and long, the line is coming; the line is not quitting, the future can be expected!
Finally, I once again wish all new Oriental people a happy Year of the Tiger, eat like a wolf, work like a tiger out of the mountains, the spirit is full of vitality, the cause is like a tiger, and the body is full of vitality! Let's start a new glorious year together in the Year of the Tiger!
Thank you!