China’s education and training industry has been in full swing in recent years,with a broad market outlook.a sudden epidemic at the end of 2019 sent the education and training industry into a downturn,and in order to effectively prevent and control the epidemic and reduce staff density,the Ministry of Education issued a comprehensive moratorium on offline teaching,which is undoubtedly a bolt from the blue for the education and training industry,which mainly makes a living from extracurricular coaching,affecting the profitability of education and training enterprises.In order to maintain a stable market share in the fierce market competition,it is necessary to grasp the opportunities and challenges and constantly adjust the profitability model.This paper selects a representative education and training enterprise,New Oriental Education and Technology Group,whose education and training business is mature and its profit model is representative.By studying and analyzing the problems of its profit model,we provide reference suggestions for the development and improvement of the profit model of education and training enterprises in the post-epidemic era.This paper analyzes the profit model and financial performance of New Oriental Education and Technology Group in the context of the nationwide epidemic prevention and control.Since the nature of the education industry is the sharing of educational resources,this paper compares and considers the research findings of several scholars by reading a large amount of literature and based on sharing economy theory,light asset operation theory,and value creation theory.The profit model and financial performance of New Oriental during the epidemic are studied and analyzed:firstly,this paper briefly introduces the development history,industry background and SWOT analysis of New Oriental;then,it analyzes the profit point,profit source,profit leverage and profit barrier based on the elements of the profit model and elaborates the changes of New Oriental’s profit model before and after the epidemic;the financial indicators from 2017 to 2022 are selected to This paper also selects another giant company in the education industry,Good Future,and compares it horizontally to analyze the financial performance of New Oriental in the education and training industry under the impact of the epidemic,and constructs a comprehensive evaluation method,the entropy value method,to comprehensively evaluate the level of financial performance,and analyzes the financial performance of New Oriental in terms of debt servicing capacity,profitability,operating capacity,and development capacity.We analyzed the changes in the scores of the four capacity indicators of New Oriental before and after the epidemic,and better explored the profitability model of New Oriental.The study finds that the epidemic has exposed New Oriental’s problematic shortcomings:fewer advantageous profit points,insufficient premium capacity for online education products,rapid offline expansion,and narrow focus business population.Meanwhile,based on the background of the post-epidemic era,this paper puts forward improvement suggestions in terms of increasing profit points,emphasizing the online education market to regulate profit leverage,developing core products to enhance profit barriers,and widening profit sources,in an attempt to provide a reference for the development of the education and training industry in the post-epidemic era through the study of New Oriental’s profit model. |