New Oriental Teams Up With Universal Pictures

New Oriental will become a strategic partner of Universal Pictures in mainland China.
Benjamin WangApr 07,2021,20:00

New Oriental Education & Technology Group (HKEX: 09901; NYSE: EDU) announced Wednesday that its primary school general education section signed a cooperation agreement with Universal Pictures (NYSE: UVV).

Under the agreement, New Oriental Primary School has obtained IP authorization from DreamWorks, a subsidiary of Universal. The two parties will jointly create IP series-themed courses and various scenarios of student activities. New Oriental will become a strategic partner of Universal Pictures in mainland China.

According to the statement, Universal Pictures is committed to providing Chinese consumers with a full range of entertainment experiences covering film, animated theme parks, digital entertainment and derivative consumer goods, The Beijing Universal Resort, which will open this year, has also attracted attention.

Xunguang Xu, the vice president of Universal Pictures Greater China Brand Development Business Department, stated, “To choose New Oriental as our strategic partner for brand development in mainland China is based on its reputation and educational genes among Chinese youth groups.”

New Oriental has licensed the IP of several animated film series, including Madagascar,Trolls, Kung Fu Panda and How to Train Your Dragon.

Additionally, the online English dubbing platform built by New Oriental will be officially launched in April, and the dubbing blueprint is derived from DreamWorks. Two parties will develop learning content that focuses on improving English reading ability.

According to GuruFocus, the long-term return of New Oriental’s stock is likely to be close to the rate of its business growth, which averaged 25.3% over the past three years and is estimated to grow 23.24% annually over the next three to five years.

Shares of New Oriental closed at $14.66, down 8 cents in New York; Hong Kong shares closed at HK$113.5, up1.52%.

Topics:New Oriental; China; U.S.