Public | |
Founded | 1993 |
Headquarters | No.6 Haidian Zhongjie, Haidian District, Beijing (100080) |
Key people
|
Yu Minhong (CEO) (俞敏洪; also known as "Michael Yu") |
Number of employees
|
over 17,700 (2016) |
Website | www.neworiental.org |
New Oriental Education & Technology Group Inc. (Simplified Chinese 新东方教育科技集团, : EDU), more commonly New Oriental (Simplified Chinese 新东方), is a provider of private educational services in China. The headquarters of New Oriental is located in the Haidian district of Beijing. It is currently the largest comprehensive private educational company in China based on the number of program offerings, total student enrollments, and geographic presence. The business of New Oriental includes pre-school education, general courses for students of various age levels, online education, overseas study consulting, and textbook publishing. New Oriental was the first Chinese educational institution to enter the New York Stock Exchange in the United States, holding its IPO in 2006. As of 2016, New Oriental has built 67 short-time language educational schools, 20 book stores, 771 learning centers, and more than 5,000 third-party bookstores in 56 cities in China. New Oriental has had over 26.6 million student enrollments, including over 1.3 million enrollments in first quarter 2017. The company's market capitalization was approximately USD 6.2 billion.
In recent years, New Oriental's revenue is mostly driven by K-12 tutoring services for elementary school and middle-to high-school students. In addition, the company has been investing heavily in online education since 2015.
Beijing New Oriental School was established on November 16, 1993, by Yu Minhong, an English teacher at Peking University. He initially focused on the TOEFL and GRE examsbut then expanded the company to provide services for various other exams and fields as well. The school is now one of the largest companies in China, and on September 7, 2006, New Oriental was listed on .
As of 2016 there are 67 schools, learning centers, vocational training centers and offices all over Mainland China. The North America Department and United Kingdom Department are the company's main source of revenue, which focuses on preparing students for the TOEFL, SAT, ACT GRE, GMAT, IELTS and LSAT. The company also offers other services including preparing students for the National English Graduate Exam, Teenage English Courses, Pop English (Kindergarten and Primary School English), consultation on preparing for interviews, consultation on preparing admission letters, and training centers for culinary art.