Koolearn Technology hit highest in two years on expectation of strong sales in Double 11 shopping events
COMPANY NEWS STOCKS
Koolearn Technology hit highest in two years on expectation of strong sales in Double 11 shopping events
COMPANY NEWS STOCKS

Koolearn Technology hit highest in two years on expectation of strong sales in Double 11 shopping events

 

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Shares of Koolearn Technology, the online education and e-commerce subsidiary of New Oriental Education and Technology, surged by more than 10% to hit HK$37.8, the highest in more than two years, before closing the morning session 7.3% up. New Oriental Education jumped nearly 9%.

New Oriental’s founder Yu Minhong will appear on the company’s live-streaming channel on Alibaba’ online shopping mall Taobao, on October 31, as part of the company’s promotion activities during the “Double 11 Shopping Event”. The company has said it will make live-streaming education on Taobao a long-term strategy.

Data from Huitui, a short-video and live-streaming data provider, showed that Dongfang Zhenxun, Koolearn Tenchnology’s live-streaming brand, recorded more than 40 million sales in recent 7 days and more than 100 million yuan in the recent 30 days.

New Oriental Education & Technology is scheduled to announce Q1 earnings results on Wednesday, October 26th, before US market open. The consensus EPS estimate is $0.33 and the consensus revenue estimate is $689.08 million.