New Oriental Education & Technology Group, Inc.: Company Profile

A Progressive Digital Media business
COMPANY PROFILE
New Oriental Education

& Technology Group,
Inc.
REFERENCE CODE: 76C657A3-704F-4270-8B2C-6AC266401AF0

PUBLICATION DATE: 26 May 2016
www.marketline.com
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New Oriental Education & Technology
Group, Inc.
TABLE OF CONTENTS
TABLE OF CONTENTS
Company Overview ........................................................................................................3

Key Facts ......................................................................................................................... 3
Business Description .....................................................................................................4
History ............................................................................................................................. 6
Key Employees ...............................................................................................................8
Key Employee Biographies ...........................................................................................9
Major Products & Services ..........................................................................................13
Company View ..............................................................................................................15
Locations And Subsidiaries ........................................................................................16
New Oriental Education & Technology Group, Inc. Page 2

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Company Overview
Company Overview
COMPANY OVERVIEW
New Oriental Education & Technology Group (New Oriental) is a provider of private educational services.
The company offers a range of educational programs, services and products that include English and
other foreign language training programs, test preparation courses for major admissions and assessment
tests, primary and secondary school education, development and distribution of educational content,
software and other technology, and online education. The company operates in China, the US and Hong
Kong. It is headquartered in Beijing, China and employs around 25,826 people.
The company reported revenues of (US Dollars) US$1,478.4 million for the fiscal year ended May 2016
(FY2016), an increase of 18.6% over FY2015. In FY2016, the company’s operating margin was 13.4%,
compared to an operating margin of 12.3% in FY2015. In FY2016, the company recorded a net margin of
15.2%, compared to a net margin of 15.5% in FY2015.
Key Facts
KEY FACTS
Head Office New Oriental Education & Technology Group, Inc.

No 6 Haidian Zhongjie
Haidian District
CHN
Phone
Fax
Web Address
Revenue / turnover (USD Mn) 1,478.3
Financial Year End May
Employees 28,690
New York Stock Exchange Ticker EDU

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Group, Inc.
Business Description
BUSINESS DESCRIPTION
New Oriental Education & Technology Group (New Oriental) is a China based company that offers a
portfolio of educational programs, services and products to address the needs of students of all ages. The
company has a network of around 721 learning centers, which includes 62 schools, 25 New Oriental
bookstores and over 5,000 third-party bookstores and over 17,200 teachers in 52 cities, as well as an
online network with over 11.2 million registered users. The company operates in China, the US, and Hong
Kong.
The company operates its business through three segments: language training and test preparation,
primary and secondary education, and others.
New Oriental's language training and test preparation segment provides English language training for
kids, middle and high school students, and adults. The company offers test preparation courses designed
for the exams used by educational institutions in the United States and China. It provides test preparation
courses for overseas and domestic exams such as Scholastic Aptitude Test (SAT), American College
Tests (ACT), GRE (Graduate Record Examination), LSAT (Law School Admission Test), GMAT
(Graduate Management Admission Test), IELTS (International English Language Testing System), BEC
(Business English Certificate), TOEFL (Test of English as a Foreign Language), TOEIC (Test of English
for International Communication), CET4 (College English Test Level 4), CET6 (College English Test Level
6), Professional Title English Test and Public English Test System.
The company's primary and secondary education segment operates a full-time private primary and
secondary school in Yangzhou, which is a private boarding school for students in grades one to 12
seeking a full curriculum taught in both Chinese and English. It also operates New Oriental Star branded
kindergarten in Beijing and Nanjing for pre-school students. The company also operates an international
high school in Beijing.
New Oriental's other segments include online education, content development and distribution, post-
secondary education and overseas study consulting services. The company through its others segment
provides overseas study consulting services to the students, from school selection and application, to
scholarship applications, to the visa and immigration process for overseas studies, such as obtaining
visas and housing.
The company's Koolearn online platform offers courses for professionals that give professional

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certification and skills training in areas such as business English, finance, management and information
technology (IT) training. Koolearn offers 4,400 online courses such as language training courses, test
preparation courses, professional certification courses, and business knowledge and skills training
courses in the areas of accounting, legal, management and others.
New Oriental distributes a range of educational materials for language training and test preparation,
including books, software, CD-ROMs (compact disc-read-only-memory), magazines and other
periodicals, as well as self-help, know-how and inspirational books.
The company's subsidiaries include Elite Concept Holdings Limited, Winner Park Limited, Smart Shine
International Limited, Beijing Judgment Education & Consulting Co., Ltd., Shanghai Smart Words
Software Technology Co., Ltd., Beijing Pioneer Technology Co., Ltd., Beijing Smart Wood Software
Technology Co., Ltd., Beijing Hewstone Technology Co., Ltd., Beijing Decision Education & Consulting
Co., Ltd., Beijing Walkite International Travel Co., Ltd.

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History
History
HISTORY
New Oriental Education & Technology Group (New Oriental) was established as Beijing New Oriental
School to offer TOEFL test preparation courses to college students by Michael Minhong Yu in 1993.
In 1995, the company's student enrollments reached to 15,000.
Beijing New Oriental School established Shanghai and Guangzhou New Oriental schools in 2000. In the
following year, New Oriental China was established to own all schools and learning centers.
In 2002, Wuhan, Xi'an, Tianjin and Nanjing New Oriental schools were established by the company. In
the same year, Beijing New Oriental Foreign Language School and the first New Oriental international
elementary educational institution was established in Yangzhou.
Beijing New Oriental School established Chengdu, Chongqing, Shenyang and Shenzhen New Oriental
schools in 2003.
In 2004, New Oriental Education & Technology Group (New Oriental) was established to facilitate foreign
investment. In the same year, Xiangfan New Oriental School was started.
New Oriental opened Changsha, Jinan, Harbin, Hangzhou, Zhengzhou, Changchun and Taiyuan New
Oriental schools in 2005. In the following year, the company established Zhuzhou, Shijiazhuang and
Suzhou New Oriental schools.
In 2007, the company established Elite Concept as its wholly-owned subsidiary in Hong Kong. In the
same year, New Oriental opened 10 new schools including Kunming and Fuzhou.
New Oriental completed the acquisition of a 60% equity stake in Mingshitang School, a Beijing-based
private school that specializes in tutoring students seeking to retake the gaokao, the Chinese college
entrance examination in 2008. In the same year, the company entered into an agreement with Coca-Cola
(China) Beverages, to develop an e-learning platform offering vocational training to Coca-Cola system
employees in China.
Also, in 2008, the company acquired Tongwen, a Changchun-based private school that specializes in
tutoring students who seek to retake the gaokao, or Chinese national entrance examination for students
applying to colleges or universities in China. In the same year, New Oriental and the Sino-British
Academic Exchange Center for Education Measurement (SBC), Cambridge ESOL's sole representative
in China for the Cambridge Young Learners English exam (YLE), signed an agreement authorizing New
Oriental to administer YLE to its students across Mainland China.
New Oriental entered into an exclusive agreement with Kinderdance, a US-based provider of dance,
motor development, gymnastics and fitness programs for young children, to offer Kinderdance content in
New Oriental's early childhood learning centers in China in 2010. In the same year, the group acquired a
100% equity interest in Shanghai Huangpu District Newave Education Training Center, a Shanghai based
private school that specialized in tutoring English for K-12 students.

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History
In 2011, McGraw-Hill and New Oriental entered into an agreement, to form a joint venture company,
which would operate "MaxEn Centers" for students ranging in age from four to 15.
Chenggang Zhou was appointed as the Executive President of Domestic Business at the company in
2014. In the same year, the company launched uDA, a mobile-based application, which is jointly
developed with Tencent Holdings Limited. Also in the same year, the company acquired 100% equity
interest in a kindergarten chain in the city of Qingdao with three schools and approximately 700 students.
In January 2016, the company appointed Chenggang Zhou as the President.

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Key Employees
Key Employees
KEY EMPLOYEES
Name Job Title Board

Michael Minhong Yu Chairman and Chief Executive Executive Board
Officer
Chenggang Zhou President Executive Board
Louis T Hsieh Director Non Executive Board
Robin Yanhong Li Independent Director Non Executive Board
Denny Lee Independent Director Non Executive Board
John Zhuang Yang Independent Director Non Executive Board
Zhihui Yang Chief Financial Officer Senior Management

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Key Employee Biographies
KEY EMPLOYEE BIOGRAPHIES
Michael Minhong Yu
Board:Executive Board
Job Title:Chairman and Chief Executive Officer
Since:2001
Age:52
Mr. Yu has been the Chairman and Chief Executive Officer at New Oriental Education & Technology
Group (New Oriental) since 2001. He also serves as the Vice Chairman at Beijing Young Entrepreneurs
Association and Vice Chairman of the Committee of Education at the Central Committee of the China
Democratic League. Mr. Yu served as an English Instructor at Peking University from 1985 and 1991. He
holds a Bachelor's degree in English from Peking University.
Chenggang Zhou
Board:Executive Board
Job Title:President
Since:2016
Age:53
Mr. Zhou has been the President at New Oriental Education & Technology Group (New Oriental) since
January 2016. He served as the Executive Vice President at New Oriental from 2006 to 2014. Mr. Zhou
also has been a Director at the company since 2010. Mr. Zhou joined New Oriental in 2000, and served
as its Vice President from 2003 to 2006, the President at Beijing New Oriental School from 2003 to 2007,
and the President at Shanghai New Oriental School from 2000 to 2003. From 1998 to 2000, Mr. Zhou
served as a Correspondent for the Asia Pacific region and a program host at BBC. He holds a Bachelor's
degree in English from Suzhou University in China and a Master's degree in Communications from
Macquarie University, Australia.
Louis T Hsieh
Board:Non Executive Board

Job Title:Director
Since:2007

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Age:50
Mr. Hsieh has been a Director at New Oriental Education & Technology Group (New Oriental) since 2007.
He served as the Chief Financial Officer at ARIO Data Networks in San Jose, California from 2004 to
2005. Mr. Hsieh served as the Managing Director at Darby Asia Investors (HK), a private equity firm, from
2002 to 2003. From 2000 to 2002, he served as the Managing Director and Asia-Pacific
tech/media/telecoms, Head of UBS Capital Asia Pacific at the private equity division of UBS AG. From
1997 to 2000, Mr. Hsieh served as the Technology Investment Banker at JP Morgan in San Francisco,
California, where he served as the Vice President, and Credit Suisse First Boston in Palo Alto, California,
where he was an Associate. From 1990 to 1996, he served as the Corporate and Securities Attorney at
White & Case LLP in Los Angeles. Mr. Hsieh also serves as an Independent Director at United
Information Technologies, a Chinese storage solutions company. He holds a Bachelor's degree in
Industrial Engineering and Engineering Management from Stanford University, a Master's degree in
Business Administration from the Harvard Business School, and a Juris Doctorate degree from the
University of California at Berkeley.
Robin Yanhong Li

Job Title:Independent Director
Since:2006
Age:46
Mr. Li has been an Independent Director at New Oriental Education & Technology Group (New Oriental)
since 2006. He is a Co-Founder at Baidu, a Chinese language Internet search provider, and has served
as its Chairman of the Board of Directors since its inception in 2000; as the Chief Executive Officer since
2004; and served as its President from 2000 to 2003. Mr. Li served as an Engineer at Infoseek from 1997
to 1999. He holds a Bachelor's degree in Information Science from Peking University and a Master's
degree in Computer Science from the State University of New York at Buffalo.
Denny Lee

Since:2006
Age:47
Mr. Lee has been an Independent Director at New Oriental Education & Technology Group (New
Oriental) since 2006. He served as a Director at Netease.com, an interactive online and wireless

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community in China and a provider of Chinese language content and services listed on the Nasdaq
Global Select Market, since 2002. Mr. Lee served as the Chief Financial Officer at Netease.com from
2002 to 2007 and its Financial Controller from 2001 to 2002. He worked in the Hong Kong office at KPMG
for over 10 years. Mr. Lee serves as an Independent Director at Concord Medical Services Holdings. He
graduated from the Hong Kong Polytechnic University majoring in Accounting and is a Member of The
Hong Kong Institute of Certified Public Accountants and The Chartered Association of Certified
Accountants.
John Zhuang Yang

Since:2007
Age:60
Dr. Yang has been an Independent Director at New Oriental Education & Technology Group (New
Oriental) since 2007. He serves as the Dean of the Beijing International MBA Program at Peking
University. Dr. Yang also serves as a full professor at National School of Development at Peking
University and holds a tenured professorship at Fordham University's graduate school of business. He
also serves as an Independent Director at Tristate Holdings, a company listed on the Hong Kong Stock
Exchange. Dr. Yang holds a Doctor of Philosophy degree in Business Administration from Columbia
University, a Master's degree in Sociology from Columbia University, a Master's degree in International
and Public Affairs from the Woodrow Wilson School of Public and International Affairs at Princeton
University, and a Bachelor's degree from the English Language and Literature Department of Peking
University.
Zhihui Yang
Board:Senior Management
Job Title:Chief Financial Officer
Since:2015
Age:41
Mr. Yang has been the Chief Financial Officer at New Oriental Education & Technology Group (New
Oriental) since April 2015. He joined the company in 2006 and has held multiple positions, including as
the Deputy Director of the President Office and Senior Financial Manager. Mr. Yang served as the
Financial Director at Beijing Hua De Xin Investment from 2002 to 2006. From 1997 and 2002, he worked
for PricewaterhouseCoopers as a Senior Auditor. Mr. Yang holds a Bachelor's degree in Economics from
Guanghua School of Management of Peking University.

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Group, Inc.
Major Products & Services
MAJOR PRODUCTS & SERVICES

New Oriental Education & Technology Group (New Oriental) is a provider of private educational services.
The company's key services, activities, and brands include the following:
Services:
English language training
Elite English personalized study
Test preparation courses
Content development and distribution
Post-secondary education
Overseas study consulting services
Career education
Occupational test preparation
Online education
Activities:
Operating full-time primary and secondary school
Operating kindergarten
Brands:

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New Oriental

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Group, Inc.
Company View
Company View
COMPANY VIEW
A statement by Michael Minhong Yu, the Chairman and Chief Executive Officer at New Oriental
Education & Technology Group (New Oriental), is given below. The statement has been taken from the
company's website.
In the beginning, there were no roads in the world; only as people began traveling did roads come into
being. Successful roads are formed not when people roam aimlessly, but when they are headed in the
same direction. The same is true for New Oriental; it was formed as people gathered to study. And like a
successful road, it did not achieve its success by chance. People who shared dreams and aspirations
worked together to forge an exciting trail.
The road ahead will be even longer and more arduous, because our goals are even grander. But with a
clear mission, dedicated hearts and the pioneering spirit that has driven us from the beginning, we're
certain that our strength, wisdom, and energy will enable us to write a new page in the records of China's
educational undertaking.

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Group, Inc.
Locations And Subsidiaries
Locations And Subsidiaries
LOCATIONS AND SUBSIDIARIES
Head Office
New Oriental Education & Technology Group, Inc.

No 6 Haidian Zhongjie
Haidian District
CHN
Phone:86 10 6090 8000
Fax:86 10 6260 5511
http://www.neworiental.org

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A Progressive Digital Media business
John Carpenter House, John Carpenter Street, London, United Kingdom, EC4Y 0AN
T: +44 (0) 203 377 3042 | F: +44 (0) 870 134 4371 | E: reachus@marketline.com | W: www.marketline.com

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A Progressive Digital Media business

New Oriental Education

REFERENCE CODE: 76C657A3-704F-4270-8B2C-6AC266401AF0

Company Overview ........................................................................................................3

New Oriental Education & Technology Group, Inc. Page 2

Head Office New Oriental Education & Technology Group, Inc.

New Oriental Education & Technology Group, Inc. Page 3

New Oriental Education & Technology Group, Inc. Page 4

New Oriental Education & Technology Group, Inc. Page 5

In 1995, the company's student enrollments reached to 15,000.

New Oriental Education & Technology Group, Inc. Page 6

In January 2016, the company appointed Chenggang Zhou as the President.

New Oriental Education & Technology Group, Inc. Page 7

Name Job Title Board

New Oriental Education & Technology Group, Inc. Page 8

KEY EMPLOYEE BIOGRAPHIES

Board:Non Executive Board

New Oriental Education & Technology Group, Inc. Page 9

Board:Non Executive Board

Board:Non Executive Board

New Oriental Education & Technology Group, Inc. Page 10

John Zhuang Yang

Board:Non Executive Board

New Oriental Education & Technology Group, Inc. Page 11

New Oriental Education & Technology Group, Inc. Page 12

MAJOR PRODUCTS & SERVICES

English language training

Elite English personalized study

Test preparation courses

Content development and distribution

Overseas study consulting services

Occupational test preparation

Operating full-time primary and secondary school

New Oriental Education & Technology Group, Inc. Page 13

New Oriental Education & Technology Group, Inc. Page 14

New Oriental Education & Technology Group, Inc. Page 15

LOCATIONS AND SUBSIDIARIES

New Oriental Education & Technology Group, Inc.

New Oriental Education & Technology Group, Inc. Page 16

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