野村:在線教育受惠於疫情 予新東方在線(1797.HK)買入評級
野村發表研究報告指,國內在線課後輔導(AST)行業是新冠肺炎疫情受惠者之一,而新東方在線(1797.HK)K12課後輔導入學人數增長,加上旗下的教育平台DFUB(東方優播)的指引,予其“買入”評級。
野村指,AST行業從入門課程到長期正常價格課程的平均轉化率是25-35%,另外經計算後,每1000萬免費註冊可以帶來25-35萬正常價格的付費註冊用户。
該行指,有專家認為,即使實體教育中心重新開放,大多數學生仍會選擇在在線平台上停留更長時間,該行較傾向認為當前的主流在線大型課程模式對於高年級學生和高等教育成績表現更好,而對於中低等教育學生則效果較差,需視乎公司如何提高用户粘性。

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