The sales volume of New Oriental exceeded 1billion, and the agency gave a "buy" rating

New Oriental's live broadcast transformation has been increasingly recognized. Data show that as of July 16, the cumulative sales of Oriental Selection reached 1.05 billion yuan. The sales volume in July was 280 million yuan, an increase of 50% compared with that in June.

This week, SHENWAN HONGYUAN SECURITIES CO., LTD. said in its first evaluation report that with the surge in the popularity of Oriental Selection, the number of fans exceeded 20 million, representing that the transformation of the company's live e-commerce has been gradually realized. Meanwhile, New Oriental online is expected to turn loss into profit in fiscal year 2023. Given a "buy" rating, the target price is HK $20.59 per share, which is still 30% higher than the current one.