5 Best Non-Tech Chinese Stocks to Buy Now

2. New Oriental Education & Technology Group Inc. (NYSE:EDU)

Number of Hedge Fund Holders: 31    

New Oriental Education & Technology Group Inc. (NYSE:EDU) provides private educational services across China. The stock has gained in the past few weeks after reports indicated that the founder of the firm, Yu Minhong, had purchased 3.2 million shares of Koolearn, an education firm owned by Oriental. The CEO has also pledged to embark on a plan to diversify and the firm plans to sell agricultural products online in the first part of this plan. 

On March 9, investment advisory Daiwa upgraded New Oriental Education & Technology Group Inc. (NYSE:EDU) stock to Buy from Neutral. Analyst Candis Chan issued the ratings update. Other advisors like US Tiger are also bullish on the stock. 

At the end of the fourth quarter of 2021, 31 hedge funds in the database of Insider Monkey held stakes worth $454 million in New Oriental Education & Technology Group Inc. (NYSE:EDU), compared to 32 in the preceding quarter worth $389 million. 

In its Q3 2021 investor letter, Polen Capital, an asset management firm, highlighted a few stocks and New Oriental Education & Technology Group Inc. (NYSE:EDU) was one of them. Here is what the fund said:

“The quarter’s leading detractors were Chinese companies that were impacted by the CCP’s regulatory crackdown and liquidity concerns at property developer Evergrande. New Oriental Education & Technology Group Inc. (NYSE:EDU)—the largest provider of private educational services in China—moved sharply lower in July after policymakers implemented new rules which effectively turned Chinese tutoring companies into non-profits. Looking at New Oriental Education & Technology Group Inc. (NYSE:EDU), we closed our position as soon as government policy became clear and used the proceeds to allocate to existing holdings.”