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新东方在线赴港上市背后:AI教育时代

来源: 南方日报网络版     时间: 2019年12月10日 06:06:03
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(截)(至)(2018年)(5月)(31日)(,新)(东)(方)(在)(线)(共)(62名)(全)(职)(教)(师)(。957名)(兼)(职)(教)(师)(、53名)(全)(职)(导)(师)(和)(1525名)(兼)(职)(导)(师)(。
与)(新)(东)(方)(相)(爱)(相)(杀)(
新)(东)(方)(在)(线)(和)(新)(东)(方)(的)(关)(系)(是)(相)(爱)(相)(杀)(的)(。
相)(爱)(很)(好)(理)(解)(,两)(者)(的)(股)(权)(结)(构)(是)(相)(互)(交)(织)(的)(。根)(据)(招)(股)(书)(,在)(新)(东)(方)(在)(线)(股)(权)(结)(构)(上)(,新)(东)(方)(为)(第)(一)(大)(股)(东)(,持)(有)(66.72%;腾)(讯)(为)(第)(二)(大)(股)(东)(,持)(有)(12.06%;员)(工)(持)(股)(平)(台)(Auspicious为)(第)(三)(大)(股)(东)(,持)(有)(7.11%;DragonCloud为)(第)(四)(大)(股)(东)(,持)(有)(6.87%;其)(总)(裁)(孙)(畅)(通)(过)(FirstBravo持)(有)(1.97%;另)(外)(,俞)(敏)(洪)(通)(过)(Tigerstep持)(有)(1.85%。
何)(来)(相)(杀)(呢)(?
新)(东)(方)(在)(线)(作)(为)(线)(上)(业)(务)(,和)(新)(东)(方)(的)(线)(下)(业)(绩)(是)(有)(冲)(突)(的)(。
10月)(23日)(新)(东)(方)(发)(布)(的)(2019财)(年)(第)(一)(季)(度)(未)(经)(审)(计)(的)(财)(报)(显)(示)(,公)(司)(营)(收)(同)(比)(增)(长)(30.1%,净)(利)(润)(却)(同)(比)(下)(滑)(22.2%,创)(下)(近)(三)(年)(同)(期)(新)(低)(,不)(及)(市)(场)(预)(期)(。10月)(份)(,新)(东)(方)(一)(度)(触)(及)(51.21美)(元)(的)(低)(位)(,股)(价)(在)(四)(个)(多)(月)(时)(间)(内)(遭)(遇)(腰)(斩)(。
据)(更)(新)(后)(的)(招)(股)(书)(,新)(东)(方)(在)(线)(将)(从)(新)(东)(方)(集)(团)(剥)(离)(,并)(将)(于)(独)(立)(管)(理)(下)(继)(续)(作)(为)(独)(立)(业)(务)(及)(平)(台)(经)(营)(。
站)(在)(新)(东)(方)(的)(肩)(膀)(上)(,新)(东)(方)(在)(线)(得)(以)(快)(速)(成)(长)(,但)(另)(一)(方)(面)(也)(对)(新)(东)(方)(造)(成)(威)(胁)(。手)(心)(手)(背)(都)(是)(肉)(,如)(何)(保)(住)(新)(东)(方)(教)(育)(集)(团)(的)(霸)(主)(地)(位)(,如)(何)(权)(衡)(线)(上)(线)(下)(的)(资)(源)(投)(入)(,这)(都)(需)(要)(俞)(敏)(洪)(的)(决)(断)(。
来)(自)(沪)(江)(教)(育)(的)(竞)(争)(
事)(实)(上)(,新)(东)(方)(在)(线)(聆)(讯)(之)(初)(,人)(们)(就)(开)(始)(把)(它)(同)(沪)(江)(教)(育)(进)(行)(对)(比)(。
毕)(竟)(,就)(在)(新)(东)(方)(提)(交)(招)(股)(说)(明)(书)(的)(半)(个)(月)(前)(,沪)(江)(教)(育)(就)(提)(交)(了)(招)(股)(书)(。同)(样)(以)(语)(言)(起)(家)(,同)(样)(专)(注)(在)(线)(教)(育)(,同)(样)(在)(港)(股)(上)(市)(,沪)(江)(教)(育)(和)(新)(东)(方)(在)(线)(的)(相)(似)(之)(处)(太)(多)(了)(。
然)(而)(,从)(财)(务)(数)(据)(而)(言)(,2017年)(沪)(江)(营)(收)(为)(5.55亿)(元)(,新)(东)(方)(在)(线)(2017财)(年)(营)(收)(为)(4.46亿)(元)(,沪)(江)(营)(收)(多)(出)(24.44%;但)(新)(东)(方)(在)(线)(净)(利)(润)(近)(1亿)(,而)(沪)(江)(则)(亏)(损)(超)(5亿)(元)(。
战)(略)(上)(,新)(东)(方)(在)(线)(着)(眼)(的)(是)(名)(师)(。根)(据)(招)(股)(书)(,其)(融)(资)(的)(首)(要)(用)(途)(即)(“用)(于)(投)(资)(员)(工)(招)(聘)(及)(培)(训)(活)(动)(”及)(“提)(升)(课)(程)(开)(发)(能)(力)(。”
而)(沪)(江)(着)(眼)(的)(是)(技)(术)(。其)(对)(互)(联)(网)(技)(术)(的)(研)(发)(投)(入)(力)(度)(较)(大)(。招)(股)(书)(显)(示)(,经)(过)(多)(年)(经)(营)(,沪)(江)(已)(建)(立)(一)(支)(由)(近)(600名)(人)(才)(组)(成)(的)(技)(术)(团)(队)(。近)(三)(年)(的)(研)(发)(费)(用)(达)(到)(人)(民)(币)(9060万)(元)(、1.6亿)(元)(和)(2.3亿)(元)(,研)(发)(投)(入)(占)(比)(营)(收)(分)(别)(达)(到)(49%、48.6%、41.5%。与)(此)(同)(时)(,新)(东)(方)(在)(线)(2018财)(年)(的)(研)(发)(开)(支)(为)(7560.4万)(元)(,占)(总)(营)(收)(的)(15.6%。
此)(外)(,新)(东)(方)(在)(线)(依)(靠)(新)(东)(方)(这)(棵)(大)(树)(,不)(需)(要)(费)(力)(打)(响)(知)(名)(度)(。招)(股)(书)(显)(示)(,2018财)(年)(新)(东)(方)(的)(销)(售)(及)(推)(广)(开)(支)(为)(15891.7万)(,付)(费)(用)(户)(144.1万)(,以)(此)(计)(算)(其)(获)(客)(成)(本)(仅)(为)(110.3元)(/人)(。相)(比)(之)(下)(,沪)(江)(投)(入)(了)(巨)(额)(的)(广)(告)(费)(。在)(招)(股)(书)(的)(披)(露)(周)(期)(内)(,沪)(江)(销)(售)(及)(分)(销)(开)(支)(分)(别)(达)(2.44亿)(、3.92亿)(、5.89亿)(,分)(别)(占)(总)(营)(收)(的)(132.2%、115.3%及)(106.1%。
在)(AI教)(育)(时)(代)(,重)(科)(技)(还)(是)(重)(名)(师)(的)(教)(育)(培)(训)(,哪)(种)(哪)(种)(能)(走)(出)(更)(宽)(的)(路)(,还)(且)(行)(且)(看)(。返)(回)(搜)(狐)(,查)(看)(更)(多)(
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