China’s most famous online cram school chain tripled its sales in six months, riding on a pivot to selling food and farm products on live streams after Beijing’s abrupt ban on for-profit after-school teaching in 2021 upended a multibillion-dollar industry.
Koolearn Technology Holding, a subsidiary of Beijing-based private tutoring giant New Oriental Education & Technology Group, on Tuesday posted revenue of 2.08 billion yuan (US$307 million) from June to November, a 260 per cent jump from the same period in 2021.