Titanium Media App reported on August 26 that New Oriental Online released its annual results announcement for fiscal year 2022 as of May 31, 2022. The total revenue of New Oriental Online in 2022 for the full fiscal year was 898.5 million yuan, a year-on-year decrease of 36.7%; the net loss was 533.9 million yuan, the loss narrowed by 67.8% year-on-year. The loss of continuing operations during the year was 70.994 million yuan, and the loss of discontinued operations was 462.9 million yuan during the year. Since 2021, the company has begun to expand its business, including live e-commerce business under the brand of Dongfang Selection, intelligent learning products, STEAM education and vocational education. Among them, the total revenue of live broadcast e-commerce in fiscal year 2022 is 24.6 million yuan, the gross profit is 9.3 million yuan, and the gross profit margin is 37.8%.
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