Shulou(Shulou.com)11/24 Report--

On January 17, New Oriental online released its financial results for the six months ended November 30, 2022. During the period, New Oriental online had revenue of 2.0801 billion yuan (US $293.5 million), an increase of 590.2% from the net income of 301.4 million yuan of continuing business in the same period of the previous fiscal year.

New Oriental online posted a net profit of 585.3 million yuan ($82.6 million), compared with a continuous operating loss of 108.7 million yuan in the same period in the previous fiscal year. During the period, New Oriental online had a gross profit of 982.5 million yuan ($138.6 million) and a gross profit margin of 47.2%.

Among them, the total revenue of the "proprietary products and live broadcast e-commerce division" represented by "Oriental selection" in the six months to November 30, 2022 was 1.7658 billion yuan, accounting for nearly 85% of the total revenue. The total revenue cost of the proprietary products and live broadcast e-commerce division is 1.016 billion yuan, the gross profit is 749.8 million yuan, and the gross profit margin is 42.5%.

As of November 30, 2022, Oriental selection has opened six live broadcast accounts in Douyin, forming a live broadcast matrix, product categories and SKU, including agricultural products, food, books and household products. Among these live broadcast accounts, Oriental selection has attracted nearly 28 million fans, and Oriental selection Books, Oriental selection Beautiful Life and Oriental selection self-owned products have attracted more than 7 million fans.

The GMV selected by Oriental reached RMB 4.8 billion in the six months ended November 30, 2022, of which GMV from Douyin accounted for the vast majority of the total GMV. The total number of paid orders for third-party products and proprietary products on Douyin was 7020.

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