# live‑streaming e‑commerce

Yu Minhong’s Bet: New Oriental and Dongfang Zhenxuan Find Their Footing — But Growth Is Far From Assured

New Oriental and its e‑commerce spinoff Dongfang Zhenxuan both reported mid‑fiscal 2026 results that show operational stabilization and a return to profitability for Dongfang. Their recoveries reflect strategic shifts—de‑personalisation and self‑operated goods for Dongfang, and business‑mix adjustment plus AI investment for New Oriental—but both face significant execution and competition risks before growth can be deemed sustainable.