Chapter 81 April 20 to re-determine the rules of the game

Overseas listing has given New Oriental a way out for equity transfer and better rules of the game.Although we will have to face pressure from outside investors in the future, if we can focus on business operations instead of internal conflicts and emotional disputes in exchange for going public, then going public is correct and unquestionable. On May 25, 2001, Yu Minhong announced at the New Oriental Shareholders' Meeting that he would hire PricewaterhouseCoopers (hereinafter referred to as PricewaterhouseCoopers) as a consultant for New Oriental's strategic development and corporate governance structure transformation.The entry of PricewaterhouseCoopers has brought a short-lived light to the chaotic New Oriental, but the internal problems of New Oriental are still difficult to resolve, and the plan of PricewaterhouseCoopers has only been implemented for half a year before it came to nothing.

At that time, Yu Minhong was starting to establish a brand-new salary and labor system and organizational structure, and established a dividend system and stock option system that could be expected, and tried his best to persuade Hu Min, Jiang Bo, Du Zihua, Du Wei and other backbones to give up the share and end the chaos of the separatist regime. situation. On November 16, 2001, the 8th anniversary of the founding of New Oriental, Wang Qiang was invited by Yu Minhong to return to New Oriental as a director. The "Private Education Promotion Law" came into effect on September 1, 2003, and for the first time, sponsors of private schools were allowed to "get a reasonable return from the school's running balance."Since then, education is no longer a non-profit and public welfare undertaking in the pure sense.The previously sensitive area - China's education industry, this "gold mine" waiting to be colonized, has gradually been discovered by the capital market and its value has been revalued.Also in this year, New Oriental Education Technology Group was formally established.

On September 7, 2006, New Oriental Education Technology Group (NYSE: EDU) began trading on the New York Stock Exchange, and the listing of New Oriental has become a reference indicator for the development of China's education market. If you want to live out your values ​​and realize your ideals, then your strategy should move at a pace that rivals your tactics, and should be on the go.