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East Buy, the e-commerce unit of China’s one-time private tutoring giant New Oriental, posted a net profit of RMB 1.7 billion ($239 million) in the 12-month period to May 2024, of which RMB 1.3 billion came from gains on the shedding of its education business, while profit from continuing operations declined nearly 70% to RMB [……
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East Buy posts 70% drop in profit, faces future struggles after departure of top influencer
Cheyenne Dong
12:39
East Buy, the e-commerce unit of China’s one-time private tutoring giant New Oriental, posted a net profit of RMB 1.7 billion ($239 million) in the 12-month period to May 2024, of which RMB 1.3 billion came from gains on the shedding of its education business, while profit from continuing operations declined nearly 70% to RMB
