Core Points - The internal letter from Yu Minhong, founder of New Oriental, has sparked significant public backlash due to its perceived disconnect from employee concerns, particularly regarding work pressure and long hours [3][20] - Despite the controversy, New Oriental's stock price rose by 2.75% to $53.44 on the first trading day after the letter, although the stock has dropped 16.2% year-to-date and over 70% from its peak of $198.54 in 2021 [3][20] - New Oriental's net profit has plummeted by 73.7%, highlighting the company's financial struggles amid a talent crisis following the departure of key figures like Dong Yuhui and others [4][16] Company Overview - New Oriental has launched a new cultural tourism brand, aiming to diversify its business and leverage its existing educational resources [11][12] - The cultural tourism division has already established over 100 travel routes across 23 provinces, targeting K12 and university students [12] - The company reported a revenue of 3.3 billion yuan in 2023 for its tourism segment, with plans to expand into new areas such as cultural IP and hotel management [12] Financial Performance - For the fourth quarter of the 2025 fiscal year, New Oriental reported revenues of $1.24 billion, a year-on-year increase of 9.4%, but a net profit of only $710,000, down 73.7% [16] - The significant drop in net profit is attributed to rising costs, including a record goodwill impairment of $60.3 million [16] - The performance of Dong Yuhui's new venture, "With Hui Tongxing," has negatively impacted the sales and viewership of New Oriental's live-streaming business [19] Talent and Leadership Challenges - The departure of key influencers like Dong Yuhui has led to a strategic shift towards "de-IP" to reduce reliance on individual personalities [13][14] - The company is facing challenges in maintaining its competitive edge in the live-streaming e-commerce sector due to the loss of its star hosts [18][19] - New Oriental's leadership is attempting to adapt by focusing on building a more sustainable operational model rather than depending on high-profile individuals [13][14]

Core Viewpoint - The internal letter from Yu Minhong, celebrating the 32nd anniversary of New Oriental, has sparked significant public backlash due to its perceived disconnect from the current struggles of employees, particularly regarding their work pressures and the company's financial performance [1][3][20]. Summary by Sections Internal Communication - Yu Minhong's letter emphasized themes of perseverance and gratitude, likening the company's journey to the resilience of penguins in Antarctica [2][3]. - The letter mentioned the need for New Oriental to become a "sower of hope" and for its various branches, including Dongfang Zhenxuan and New Oriental Tourism, to represent integrity and cultural enrichment [1][11]. Employee Reactions - Employees expressed dissatisfaction with the letter, feeling it failed to acknowledge their current challenges, particularly the pressures of KPIs and long working hours [2][3][20]. - Social media reactions included comments highlighting the disparity between Yu's Antarctic experience and the daily struggles of employees, leading to a sense of alienation [2][3]. Financial Performance - New Oriental's financial results showed a significant decline, with a 73.7% drop in net profit for the fourth quarter of the 2025 fiscal year, despite a 9.4% increase in revenue [17][19]. - The company faced increased operational costs and a record goodwill impairment of $60.3 million, contributing to the profit decline [17][19]. Market Response - Following the internal letter, New Oriental's stock price rose slightly, closing at $53.44, but the stock has seen a 16.2% decline year-to-date and over 70% from its peak in 2021 [3][20]. - The overall market sentiment remains cautious, reflecting the ongoing challenges faced by the company and its leadership [20]. Talent and Leadership Challenges - The departure of key figures, including popular hosts from Dongfang Zhenxuan, has raised concerns about talent retention and the company's ability to maintain its competitive edge [14][19]. - The shift towards a "de-IP" strategy aims to reduce reliance on individual personalities and focus on building a more sustainable operational model [14][19]. New Business Initiatives - New Oriental has launched a tourism brand, aiming to diversify its offerings and leverage its educational expertise to enhance the travel experience [11][12]. - The tourism segment has shown potential for growth, with plans to expand into new areas and achieve profitability by the 2026 fiscal year [12][20].

Core Viewpoint - The founder of New Oriental, Yu Minhong, emphasizes the importance of employee feedback and plans to support a trip to Antarctica for selected employees, while addressing misconceptions about travel costs [1][2]. Group 1: Employee Engagement and Company Culture - Yu Minhong encourages employees to voice their grievances, stating that any dissatisfaction reflects issues within the company that need to be addressed [1]. - On the 32nd anniversary of New Oriental, Yu draws parallels between the resilience of penguins in Antarctica and the unity of New Oriental employees in facing challenges [2]. Group 2: Future Initiatives - New Oriental plans to establish a dedicated youth exploration center, focusing on natural education for children [2]. - A specialized Antarctic exploration trip for teenagers is expected to launch next winter, indicating a commitment to experiential learning [2]. Group 3: Clarification on Travel Costs - Yu Minhong clarifies that the cost of traveling to Antarctica varies significantly, ranging from 50,000 to 300,000 yuan, with the advanced icebreaker used by him costing between 200,000 to 250,000 yuan for a 12-day trip [1].

Core Points - The core issue revolves around the controversy sparked by the founder of New Oriental, Yu Minhong, sending a letter from Antarctica to employees on the company's 32nd anniversary, which was perceived as disconnected from the employees' realities [1][3][4] Group 1: Company Background and Events - New Oriental celebrated its 32nd anniversary on November 16, with Yu Minhong reflecting on the company's journey and future plans in a letter themed "Perseverance in the Ice and Snow" [1] - The letter, intended to motivate employees, instead led to backlash as many employees felt unable to empathize with the founder's experience while they were working overtime [1][3] - Following the controversy, Yu Minhong responded in a video on November 18, stating that his trip to Antarctica was to discuss the future of natural education for Chinese children, announcing plans to establish a youth exploration center [1][3] Group 2: Employee Sentiment and Public Reaction - The letter's content, which emphasized Yu Minhong's personal experiences in Antarctica, was criticized for lacking acknowledgment of employee pressures, leading to a perception of a disconnect between management and staff [3][4] - Social media reactions highlighted the stark contrast between the founder's luxurious trip and employees working during the anniversary, coining the phrase "boss in Antarctica, employees working" [3][4] - The public interest in Yu Minhong surged, with the WeChat index for his name rising from around 150,000 on November 16 to nearly 20 million by November 18 [1] Group 3: Financial Performance and Business Strategy - New Oriental has been facing challenges in its business transformation, particularly after the departure of key personnel, which has affected the performance of its subsidiary, Oriental Selection [6][7] - Financial reports indicate that for the fiscal year 2025, Oriental Selection's revenue, profit, and gross merchandise volume (GMV) are expected to decline significantly, with net profit projected at only 6.2 million [7] - New Oriental's overall revenue for the fourth quarter of fiscal year 2025 was reported at $1.243 billion, a year-on-year increase of 9.4%, but it also faced an operating loss of $8.674 million, a significant decline compared to the previous year [7] Group 4: Future Directions and Challenges - New Oriental aims to explore the tourism sector as a third growth curve, with plans for a separate IPO for its tourism business, which has yet to show significant results in financial performance [8][9] - The company has established numerous subsidiaries under its tourism brand and invested in various travel-related ventures, indicating a strategic shift towards diversifying its business model [10] - Experts suggest that while the tourism direction is promising, the company must innovate its offerings and build a comprehensive service system to differentiate itself in the competitive market [10]

Core Points - The chairman of New Oriental, Yu Minhong, clarified the cost of a trip to Antarctica, stating that prices range from 50,000 to 300,000 yuan, with the specific cruise he took costing between 200,000 and 250,000 yuan for 12 days, contrary to the rumored 1.48 million yuan [1][3] - Yu Minhong expressed gratitude for the support from friends and emphasized the company's culture of allowing employees to voice their concerns, indicating a commitment to addressing any issues within the organization [3][4] - On the occasion of New Oriental's 32nd anniversary, Yu Minhong reflected on the company's journey and future aspirations, aiming for New Oriental to be a "sower of hope" and for its tourism segment to help people appreciate the world [4] - Following the internal letter, there was a mixed reaction from employees, with some expressing difficulty in empathizing with the CEO's vacation, leading to discussions on social media [7] - In a video response, Yu Minhong highlighted the importance of nature education for children and announced plans for a youth exploration center, aiming to foster a love and understanding of nature among young people [7]

Core Viewpoint - The chairman of New Oriental, Yu Minhong, addressed the backlash regarding his recent trip to Antarctica and emphasized the company's tradition of allowing employee feedback and criticism [3][4]. Group 1: Employee Engagement and Company Culture - Yu Minhong stated that allowing employees to voice their grievances is a tradition at New Oriental, and he encourages this practice as a means to identify and correct issues within the company [3]. - He mentioned that there are instances of individuals impersonating New Oriental employees online, but he trusts the public's ability to discern authenticity [3]. Group 2: Antarctica Trip Details - The trip to Antarctica involves various ships and cabin options, with prices ranging from 50,000 to 300,000 yuan [4]. - Yu Minhong clarified that he and his colleague traveled on the "Xia Gu" ship, which is a modern icebreaker, and the cost for their trip was between 200,000 to 250,000 yuan, contrary to the reported 1.48 million yuan [4]. - The "Xia Gu" ship is noted for its advanced capabilities and is designed for polar exploration, with a capacity of 245 passengers [11]. Group 3: Company Communication and Public Perception - On November 16, New Oriental celebrated its 32nd anniversary, during which Yu Minhong released an internal letter reflecting on the company's journey and future aspirations [11]. - The internal letter did not resonate as expected with employees, leading to comments about the disconnect between the CEO's vacation and their work commitments [11]. - Following the controversy, Yu Minhong posted videos from his trip, indicating that he was discussing future educational initiatives related to nature for children [13].

俞敏洪表示，他乘坐的邮轮价格在20万元—25万元之间（不同舱位），而不是外界所说的148万元。 同时，针对"员工在加班，老板在南极"的网络观点，俞敏洪表示："我打算明年冬天，选择10个左右的 新东方、东方甄选的基层优秀员工，加上东方甄选10个优秀会员，由公司支持到南极看一看。" 11月20日上午，新东方董事长俞敏洪在社交媒体回应此前的"全员信争议"。 截至发稿，东方甄选港股下跌0.32%，最新报18.7港元/股。 俞敏洪持续引发争议 日前，俞敏洪因在南极发布公司内部信，随后又在社交平台连发南极游视频，持续引发争议。 11月16日，新东方迎来成立32周年纪念日。作为创始人的俞敏洪身处南极发布内部信，向全体员工及支 持者致谢。他借南极企鹅在极端环境中相互扶持、努力生存，类比新东方人面对困境时的团结与希望， 回顾了新东方从北大一间简陋教室起步，历经风雨的创业历程，鼓励员工坚守初心，服务好学生与客 户，展望未来事业的发展。 | 18:05 收件人:全国教职员工 > | 站在南极,我看到了企鹅在冰雪中努力生 | | --- | --- | | | 存。它们在极端环境中,靠着彼此的体温 | | 热烈祝贺新东方 32周年生 ...

Core Points - The chairman of New Oriental, Yu Minhong, clarified on social media that the cost of a trip to Antarctica varies significantly, ranging from 50,000 to 300,000 yuan, and the specific trip he took was priced between 200,000 to 250,000 yuan for 12 days, contrary to the reported 1.48 million yuan [1][4] - Yu Minhong expressed gratitude to employees and supporters on the 32nd anniversary of New Oriental, emphasizing the importance of employee feedback and the company's tradition of allowing staff to voice their concerns [4][5] - The company plans to establish a youth exploration center aimed at fostering children's understanding and appreciation of nature, with potential Antarctic exploration trips for youth starting next winter [5][6] Company Insights - New Oriental is celebrating its 32nd anniversary, with Yu Minhong reflecting on the significance of perseverance and time during his trip to Antarctica [5] - The company is facing internal criticism from employees regarding the disparity between the leadership's experiences and their own, as highlighted by comments on social media [5][6] - The travel arrangements for the Antarctic trip included advanced icebreaker ships, with varying prices based on cabin types, indicating a premium market for such unique travel experiences [6][7]

Core Points - The chairman of New Oriental, Yu Minhong, faced controversy after sharing videos of his trip to Antarctica and discussing the costs associated with it [1][5] - Yu clarified that the cost of the cruise to Antarctica was not 1.48 million but rather between 200,000 to 250,000 yuan for a 12-day trip, depending on the cabin type [1][10] - The company aims to support outstanding employees by offering them a chance to visit Antarctica next winter [1] Summary by Sections Company Background - New Oriental celebrated its 32nd anniversary on November 16, with Yu Minhong reflecting on the company's journey and future aspirations in an internal letter [3] - The company aims to be a "sower of hope" and represent "the conscience of merchants" through its various business segments [3] Employee Reactions - The internal letter and subsequent social media posts did not resonate as expected with employees, leading to discussions about empathy towards a traveling boss [5] - Employees expressed feelings of disconnect with Yu's experiences while he was on vacation [5] Travel Details - Yu Minhong's cruise, the "Summer Commander," is a state-of-the-art polar exploration ship with a capacity of 245 passengers, designed for extreme conditions [10] - The ship offers various itineraries, with prices ranging from approximately 260,000 to 1.48 million yuan per person, depending on the length and type of accommodation [10][8]

Core Viewpoint - The recent controversy surrounding New Oriental's chairman Yu Minhong's Antarctic trip has sparked discussions, with Yu emphasizing the company's culture of allowing employee feedback and addressing concerns [1]. Group 1: Employee Feedback and Company Culture - Yu Minhong acknowledged the importance of employee feedback, stating that if employees have grievances, it reflects issues within the company that need to be corrected [1]. - He mentioned that there are instances of impersonation by individuals claiming to be New Oriental employees online, suggesting that the public should discern the authenticity of such claims [1]. Group 2: Antarctic Trip Details - Yu announced plans to take around 10 outstanding grassroots employees from New Oriental and 10 excellent members from Dongfang Zhenxuan to Antarctica next winter, supported by the company [1]. - He clarified the cost of the Antarctic trip, stating that prices range from 50,000 to 300,000 yuan, with the specific ship he and another executive took costing between 200,000 and 250,000 yuan, contrary to reports claiming it was 1.48 million yuan [1].