On Tuesday, New Oriental Education & Technology (EDU.US) declined more than 2%, trading at $47.21. In response to market developments, New Oriental Group CEO Zhou Chenggang posted a video on social media platforms in the evening, stating: "I was on a business trip this afternoon, just on a flight from Hong Kong back to Beijing. As soon as I got off the plane, I saw many absurd messages. The company has already refuted these rumors - they are all false. I'm recording this short video to greet everyone again."
Market rumors circulated today claiming that New Oriental Group CEO Zhou Chenggang, a long-term partner of Yu Minhong, was allegedly involved in misappropriating listed company interests through related-party transactions and had been placed under investigation by regulatory authorities. In response to these allegations, Dongfang Zhenxuan replied that the claims are "pure rumors."
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