English|New Oriental Finds New Partner JD Logistics amid Tutoring Crackdown in China
【English|New Oriental Finds New Partner JD Logistics amid Tutoring Crackdown in China】BEIJING, March 7 (TMTPOST)— New Oriental is work with JD’s logistics on vocational training unit as the Chinese online education giant is struggling for transition from its core business amid the tutoring crackdown in the home market.
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Source: Visual China
Koolearn Technology, a Hong Kong-listed online tutoring arm of New Oriental, signed a strategic partnership agreement with JD Logistics on Monday. Under the agreement, JD Logistics’ platform engaged in the education of logistics, supply chain and relevant sectors will carry out further cooperation on various industries including educational travel, international education, outplacement services and vocational training, and work together to facilitate the quality development of vocational education. The two parties will build a faculty and a team of operators which can offer internal training services and operate the relevant program, focusing on educational services and programs on cross-border e-commerce and drone.
This is New Oriental’s latest effort for focus shift after China introduced so-called "double reduction" policy in last May to reduce burdens of both homework and after-school tutoring on students. In last September, New Oriental announced to stop offline enrollment for tutoring services on subjects in China’s compulsory education system in primary and secondary schools, following Beijing’s new rules to ban on tutoring services during weekends and vacations and after school tutoring classes that teach school curriculum, forbid education firms teaching school subjects to go public and order all the existing firms in the sector to go non-profit.
New Oriental last month disclosed the net loss of US$875,980 in the six months ended November 30, 2021, the first losses in a financial report since the company went public in 2014. It said that the huge loss resulted from cessation of K-9 Academic AST Services, the tutoring services related to academic subjects to students from kindergarten through grade nine. It also suggested further loss may come as it said New Oriental will continue to shift its focus towards educational products and services that are not related to K-9 Academic AST Services, such as its test preparation courses, language training courses for adults and educational materials, continue to cooperate with the authorities in China to comply with the relevant policies, and further adjust its business operations as required.
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