New Oriental
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With Hui Tongxing Denies Rumors of Dong Yuhui’s Annual Income Reaching 2-3 Billion Yuan
Tech figure Luo Yonghao claimed Dong Yuhui’s “With Hui Tong Xing” venture generates a yearly income of 2-3 billion yuan and that Dong needed a loan for housing before leaving New Oriental. “With Hui Tong Xing” denied the claims. New Oriental’s stock surged after Dong’s initial success but plummeted after his official departure in July 2024, erasing HK$3 billion in value, amid concerns about New Oriental’s future without his influence. Dong himself has refuted earlier reports placing his annual income near 2.85 billion yuan, calling them rumours.
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Yu Minhong: Entrepreneurs Like Liu Qiangdong and Dong Mingzhu Are Not Crooks, Pursue Wealth but Aren’t Misers
In a speech at Guangdong University of Foreign Studies, New Oriental’s Yu Minhong defended entrepreneurs, distinguishing them from unscrupulous merchants. He cited successes like Liu Qiangdong, Dong Mingzhu, and others, emphasizing their drive to build a better world, not simply accumulate wealth. He also discussed the challenges faced by entrepreneurs highlighting his influence and mentorship, as demonstrated by many former associates establishing their own ventures.
