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New Oriental online education

New Oriental’s online learning platform has a surprising major shareholder: Tencent

February 2, 2019 11:24 am

According to 36Kr, New Oriental's online learning platform, Koolearn, has filed a prospectus with the Hong Kong Stock Exchange, revealing that Tencent holds 90.416 million shares while parent company New Oriental holds 500 million.

New Oriental announced a six-month net profit of RMB 36.20 million (USD 5.37 million) ended November 30, with year-on-year decline of 60%.

Koolearn mainly provides three core curricula—a higher education level, K12, and preschool. The total number of students without a scholarship is 1.9 million.