Group 1: AI Developments - Google launched its new AI model Gemini 3, claiming it to be the "most intelligent" and "factually reliable" AI system to date, with enhanced capabilities in handling text, images, and audio simultaneously [2] - Jeff Bezos founded a new AI startup named "Project Prometheus," which has raised $6.2 billion in funding and employs nearly 100 staff from major tech companies [4] - Perplexity integrated the Kimi K2 Thinking model, marking it as the only domestic model included alongside OpenAI's GPT-5.1 [17] Group 2: Company Financials and Performance - Amer Sports, the parent company of Arc'teryx, reported a 30% revenue increase to $1.756 billion in Q3 2025, with a 161% rise in adjusted net profit to $185 million [14] - Xiaomi Group announced a record high adjusted net profit of 11.3 billion yuan in Q3 2025, with total revenue reaching 113.1 billion yuan, a 22.3% year-on-year increase [14] - 元气森林 announced the separation of its dairy brand 北海牧场 into an independent operation, focusing on low-temperature yogurt while consolidating resources in the beverage sector [14] Group 3: Market Trends and Predictions - A report indicated that the number of "millionaires" in Hong Kong has increased to approximately 395,000, reflecting a growing wealth concentration in the region [27] - The global smartphone shipment is projected to reach 1.2213 billion units in 2025, with AI smartphones expected to grow from 445.8 million units in 2025 to nearly 600 million units in 2026 [27] Group 4: Corporate Changes and Strategies - DJI held closed-door meetings with multiple investment institutions regarding its new panoramic drone, DJI Avata 360, while stating it has no current financing or IPO plans [6][7] - Manner Coffee responded to rumors about a potential IPO in Hong Kong, stating it would not comment on the speculation [7] - The management of 胖东来 underwent significant changes, with 于东来 stepping down as general manager while retaining his position as chairman [7]

长江商报消息 ●长江商报记者 沈右荣 俞敏洪再度陷入舆论风波。 2025年11月16日，是新东方（09901.HK、EDU.US）成立32周年纪念日，远在南极旅游的创始人、实际控制人俞 敏洪，发了一封感谢信，以此表示纪念。 在信中，俞敏洪提出，新东方要成为"希望的播种者"，东方甄选应成"商家良知的代表"，新东方文旅要"让更多的 人把世界装在心里"。 但内部信发布后并未收获预期效果，反而招来吐槽。通篇内部信中，17次提"我"，5次提"南极" ，鲜少提及当下 员工的工作压力，引发争议。有员工表示无法与正在旅游的老板共情。 11月18日，港股市场上，新东方收跌2.17%，近五个交易日有四天下跌。美股市场上，截至美东时间17 日，新东 方连续四个交易日下跌。 新东方正面临着经营压力。2026财年第一季度（即2025年6月1日至8月31日），新东方增收不增利，净利润同比下 降1.92%。 这封信的主题是"冰雪中的坚守"。在这封信中，俞敏洪简要回顾了新东方32年发展史，并表示，新东方要成为"希 望的播种者"，东方甄选应成"商家良知的代表"，新东方文旅要"让更多的人把世界装在心里"。 这封信，是俞敏洪在南极旅游时发的。在信 ...

Core Insights - New Oriental is diversifying its business model by focusing on the cultural tourism sector, aiming to create a synergistic ecosystem of "education + e-commerce + cultural tourism" [1][2] - The founder, Yu Minhong, is actively promoting the new cultural tourism brand "You Travel with Yu" while traveling extensively, which has sparked discussions about leadership presence and employee engagement [1] - The cultural tourism division, established in July 2023 with a registered capital of 1 billion RMB, is positioned to provide high-quality cultural tourism services and has already launched programs in 55 cities [2] Group 1 - Yu Minhong's travels are not just personal but are aimed at enhancing New Oriental's cultural tourism brand and vision [1] - The cultural tourism segment is seen as a new growth engine for New Oriental, with potential for independent listing [1][2] - New Oriental has invested in various companies to build a comprehensive service system covering educational travel, high-end customization, and cultural experiences [2] Group 2 - New Oriental's stock has faced challenges, with an 18.03% decline in the US market due to slowing overseas study business and profitability pressures [3] - Despite recent leadership changes at Dongfang Zhenxuan, the overall business structure is evolving towards a more resilient model integrating education, cultural tourism, and e-commerce [3]

Core Viewpoint - The recent activities of Yu Minhong, founder of New Oriental, including his trip to Antarctica and the internal letter sent to employees, have sparked discussions and mixed reactions among staff and the public regarding company culture and leadership [2][5][7]. Group 1: Yu Minhong's Activities - On November 18, Yu Minhong shared 10 videos from his trip to Antarctica, emphasizing the importance of natural education for children and announcing the establishment of a youth exploration center by New Oriental [2][5]. - The company plans to launch a specialized Antarctic exploration program for teenagers, expected to commence in the winter of next year [2]. Group 2: Internal Communication and Employee Reactions - On November 16, during his Antarctic expedition, Yu Minhong sent an internal letter to all employees, reflecting on the company's journey and encouraging unity and perseverance in the face of challenges [5]. - The internal letter received mixed feedback, with some employees expressing difficulty in empathizing with their boss while he was on vacation, and others highlighting their workload during the anniversary [7]. Group 3: Travel Details - Yu Minhong traveled to Antarctica aboard the Shagu No. cruise ship, which departs from Paris and offers a 20-day journey costing approximately 300,000 yuan per person [12]. - The cruise ship only visits Antarctica every two years, indicating that the next opportunity to board will not be until 2027 [12].

在信中，俞敏洪描述南极的极致景观，"浩瀚的洁白""翡翠般的冰山"，还以企鹅"相互扶持越冬"类比团队精神。然而，这封信发布后，并未收获预期中的 共鸣，反而引来一些员工的吐槽，以及广泛的争议。"老板在南极看企鹅，你在工位改PPT""老板在南极，员工在加班"，这是不少网友看到全员信后的第 一反应。 俞敏洪在南极旅游。 每经编辑｜何小桃 新东方创始人俞敏洪可能没有想到，他只是写了一封凝聚人心、彰显企业文化的内部信，结果引来一场沸沸扬扬的舆情风波。 11月16日，新东方迎来成立32周年纪念日，身在南极的俞敏洪给全体员工发了这封主题为"冰雪中的坚守"的内部信，回顾创业历程，也擘画未来。 | 前到浮 18:05 | 站在南极,我看到了企鹅在冰雪中努力生 | | --- | --- | | 前 收件人:全国教职员工 > | 存。它们在极端环境中,靠着彼此的体温 | | 热烈祝贺新东方 32周年生日快乐! | 与坚守,度过了一个又一个冬天,养育了 | | | 一批又一批后代。这何尝不像我们新东方 | | 亲爱的各位新东方人: | 人?面对风雨,我们相互扶持;面对未 | | 此刻,我正站在南极的冰雪世界中。四周 | 知,我们始终 ...

Core Viewpoint - The internal letter from New Oriental's founder, Yu Minhong, sent from Antarctica, sparked criticism among employees for its perceived disconnect from their struggles and realities, highlighting a growing tension between management and staff [2][4][5]. Group 1: Employee Reactions - Employees expressed dissatisfaction with the letter, feeling it was tone-deaf given their hard work while the founder enjoyed leisure time in Antarctica [4][5]. - The sentiment among employees reflects a broader shift in attitudes, where they seek more tangible recognition and empathy from leadership rather than motivational rhetoric [5][6]. Group 2: Leadership Perspective - Yu Minhong's letter was characterized as a typical motivational message, reflecting his entrepreneurial spirit and vision for the future of New Oriental [2][3]. - The letter's content, while well-intentioned, failed to resonate with employees who are facing significant pressures and challenges in their roles [4][6]. Group 3: Suggestions for Improvement - Recommendations for future communications include offering bonuses or small gifts to employees, or providing time off to acknowledge their contributions, fostering a sense of shared success [6]. - A more grounded and relatable approach in leadership communication is suggested to bridge the gap between management and employees [6][7].

Core Viewpoint - The internal letter from New Oriental's founder, Yu Minhong, sent while he was in Antarctica, sparked backlash among employees who felt disconnected from his message during their work hours, highlighting the ongoing challenges faced by the company amid declining profits and staff turnover [3][5][12]. Employee Reactions - Employees expressed frustration on social media, feeling unable to empathize with Yu's Antarctic experience while they were working under pressure, with comments reflecting their dissatisfaction and humor about the situation [5][7]. - Some employees humorously wrote "letters" back to Yu, emphasizing their struggles with KPIs and contrasting their work conditions with his leisure time [5][12]. Company Performance - New Oriental's financial performance shows a mixed picture, with a revenue of $1.243 billion for Q4 FY2025, a 9.4% increase year-over-year, but a significant operating loss of $8.674 million, marking a 182.4% decline [12]. - For Q1 FY2026, revenue was $1.523 billion, a 6.1% increase from the previous year, but net profit fell by 1.9% to $241 million, indicating ongoing profitability challenges [12]. Challenges in the Live Commerce Sector - The live commerce arm, Dongfang Zhenxuan, has faced significant setbacks, with a 32.7% decline in total revenue to $4.392 billion for FY2025, attributed to the loss of key personnel [15]. - The departure of core team members, including prominent hosts, has severely impacted the performance of Dongfang Zhenxuan, which is struggling to maintain its market position [14][15]. Overall Outlook - The company is navigating a difficult transformation journey, with both New Oriental and Dongfang Zhenxuan experiencing performance declines and operational challenges [16].

在某种程度上，俞敏洪就成了所有"老板"的替身，成了这个"出气筒"和"替罪羔羊"。 每经评论员 徐肖逍 新东方创始人俞敏洪可能没有想到，他只是写了一封凝聚人心、彰显企业文化的内部信，结果引来一场 沸沸扬扬的舆情风波。 11月16日，新东方迎来成立32周年纪念日，身在南极的俞敏洪给全体员工发了这封主题为"冰雪中的坚 守"的内部信，回顾创业历程，也擘画未来。 在信中，俞敏洪描述南极的极致景观，"浩瀚的洁白""翡翠般的冰山"，还以企鹅"相互扶持越冬"类比团 队精神。然而，这封信发布后，并未收获预期中的共鸣，反而引来一些员工的吐槽，以及广泛的争 议。"老板在南极看企鹅，你在工位改PPT""老板在南极，员工在加班"，这是不少网友看到全员信后的 第一反应。 从企业品牌角度来看，俞敏洪的这封信的确不够完美。具体来看，有三个技术性问题。 一是场景错位，领导在"24小时阳光"下感悟人生，员工在"24小时待机"，对比太过鲜明。二是叙事失 焦，信中提到17次"我"和5次"南极"，将"我们"的故事，写成了"我的南极游记"。三是价值缺位，企业 发展面临挑战，俞敏洪送上一碗冰镇鸡汤，员工很难"共情企鹅"。 但是，一封内部贺信，为什么会在地 ...

从企业品牌角度来看，俞敏洪的这封信的确不够完美。具体来看，有三个技术性问题。 新东方创始人俞敏洪可能没有想到，他只是写了一封凝聚人心、彰显企业文化的内部信，结果引来一场 沸沸扬扬的舆情风波。 11月16日，新东方迎来成立32周年纪念日，身在南极的俞敏洪给全体员工发了这封主题为"冰雪中的坚 守"的内部信，回顾创业历程，也擘画未来。 在信中，俞敏洪描述南极的极致景观，"浩瀚的洁白""翡翠般的冰山"，还以企鹅"相互扶持越冬"类比团 队精神。然而，这封信发布后，并未收获预期中的共鸣，反而引来一些员工的吐槽，以及广泛的争 议。"老板在南极看企鹅，你在工位改PPT""老板在南极，员工在加班"，这是不少网友看到全员信后的 第一反应。 下职场中最为敏感的那根神经。更多的人是在情绪联想，是在心理代入，他们需要的是一个情绪靶子， 以及一个"替罪羔羊"。 在某种程度上，俞敏洪就成了所有"老板"的替身，成了这个"出气筒"和"替罪羔羊"。 在舆论发酵过程中，太多评论超越了俞敏洪和新东方的具体情境，上升为对"所有老板"的吐槽。 从这种情绪中也可以看到，新一代职场人个体意识的觉醒，他们强调工作尊严与个人价值的对等叙事。 情绪背后，是代际价 ...

Core Points - The internal letter from Yu Minhong, founder of New Oriental, sent from Antarctica on the company's 32nd anniversary, sparked controversy among employees who found it ironic given their ongoing work commitments [1][3] - Employees expressed feelings of unfairness and a lack of empathy, highlighting the disconnect between the founder's celebratory tone and their own struggles [3][4] - The letter reflects Yu Minhong's typical optimistic and motivational style, but it failed to resonate with employees who are increasingly pragmatic and seeking tangible support from leadership [2][5] Summary by Sections - **Employee Reactions** - Employees criticized the letter for its "chicken soup" sentiment, feeling it was out of touch with their reality of working long hours [1][3] - The disparity between Yu Minhong's experience in Antarctica and the employees' struggles at home led to feelings of resentment and a lack of shared experience [4] - **Leadership Perspective** - Yu Minhong's letter was intended as a reflection on the company's journey and future vision, but it did not address the current challenges faced by employees [2][5] - The evolving mindset of employees demands more than just inspirational messages; they seek recognition and empathy from leadership [4][5] - **Suggestions for Improvement** - Recommendations include providing employees with bonuses or small gifts to share in the company's success, or offering time off to acknowledge their hard work [5] - A more grounded and relatable approach in communication from leadership could help bridge the gap between management and employees [5]