新东方在线(01797)K12小班挖掘下沉市场,差异化竞争优势凸显

东北证券
Mar 25, 2021

在线教育领跑者聚焦K12,长期亏损有望收窄。新东方在线成立于2005年,作为新 东方集团 子公司独立运营线上教育,通过新东方在线、东方优播等平台发展大学教育、K12教育、学前教育及机构业务。公司2016-2020财年营收CAGR达34.09%,2020财年营收10.81亿元,同增17.57%,归母净利润-7.42亿元,K12分部营收占比27.13%,维持逐年上涨趋势,FY21H1达49.78%。...

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