Yu Minhong: Engaging in price wars can never lead to long-term success; you can only succeed by being better than others.

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Yu Minhong said that price wars cannot lead to long-term corporate development. He believes that companies should focus on enhancing their competitiveness and winning the market by offering better products and services, rather than relying on low-price strategies.

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新新浪科技 zh 2026-09-05 08:00

Yu Minhong, chairman of New Oriental Education & Technology Group, stated at the 2026 Yabuli Forum Summer Annual Meeting that price wars can never lead to long-term success; companies can only succeed by outperforming others. He believes that in the face of mature products, achieving excellence is essential to become a leader; being cheaper than competitors is an advantage, but merely being slightly better than them is not enough to establish a foothold. Using New Oriental’s practices in the food industry as an example, he emphasized that in a market where supply exceeds demand, it is necessary to create “three-high” products—safe, high-quality, and cost-effective—so that customers can deeply appreciate the safety and taste of its products.