East Buy Revenue to Surge, Driven By Livestreaming Ecommerce

East Buy

In 2022, Chinese education company East Buy Holding (HKG: 1797) underwent a major transformation by shifting its focus to private label products and livestreaming ecommerce. Formerly known as Koolearn Technology, a subsidiary of the Chinese private tutoring giant New Oriental Education & Technology Group, East Buy made this shift in response to Beijing’s ban on for-profit after-school teaching in 2021, which led to the closure of its K12 and pre-school education businesses.

In 2023, 86% of East Buy’s total revenue came from its private label products and livestreaming ecommerce business. According to Visible Alpha consensus, East Buy’s livestreaming ecommerce-related businesses are expected to continue to drive significant revenue growth for the company, with total revenue projected to reach an estimated CN¥5.4 billion in 2024, compared to CN¥4.5 billion in 2023 and CN¥1.4 billion in 2021, before the company started its ecommerce business.

Sector: Consumer Services
Industry: Internet Retailers
VA Ticker(s): 1797_CN