文 | DoNews  曹双涛

编辑 | 杨博丞

zaiwangyiyoudao“ziyue”jiaoyudamoxingchuangxinchengguofabuhuishang，qichuletuichuguoneishougejiaoyudamoxing“ziyue”2.0banbenwai，tongshihaifabujiyudamoxingyanfadesandachuangxinyingyongjiyikuanzhinengyingjianxinpin——aijiatingjiaoshi“xiaoplaoshi”、youdaosudu、xunirenkouyusijiaohi echo 2.0、youdaoaixuexijix20。

juxi，xiaoplaoshijiangshoufadazaiyoudaoaixuexijix20shang。qiehechuantongxuexijibutongdeshi，x20jiangxuexiji、xuelianjihexueshengzhuanshudiannaoyuyiti，shouchuangle“sanheyi”moshi。

duiyuwangyiyoudaoqieruaixuexijisaidaoyebunenglijie，shuangjianzhengceluodihou，wangyiyoudaosuiyizhizhuanxingzhinengjiaoyuyingjianleichanpin，danqichanpinyizhiweiraozairucidianbi、diandubi、tinglibaodengyingyuleichanpinshang。erchanpinxiandexiangduidanyi，rangwangyiyoudaojinjinianyingshouchixuxiahua，shizhongwufazhaodaowendingdeyinglifangshi。yinci，wangyiyoudaopoqiexuyaoyikuanbaopin，laizhengjiudimideyeji。

图源：百度网易有道财报

shouzaikubunengkuhaizi，zaiqiongbunengqiongjiaoyuyijishuangjianzhengceyingxiang，jinliangnianxuexijishentoulvchixutisheng。jishizaileisiyuanhuishengjieshoushixiangzhenyijideshichangzhong，bufenyidongyingyetingzhongyenengkandaoxuexijideshenying。

《2022nianzhongguojiaoyuzhinengyingjianxingyebaogao》xianshi，xuexijipingjiezheshiyingzaijiaxuexichangjing、shentoulvgaodengtedianchengweijiaoyuzhinengyingjianzhongdejingzhengzhongdian，jiaoyuzhinengyingjiansaidaozengzhangqianlijuda，yujijinnianshichangguimojinqianyiyuan。

guangkuodeshichangqianjingxia，yerangsaidaoshangxiangguanqiyezhuandepenmanboman。yikedaxunfeiweili，muqiankedaxunfeishourulaizijiaoyulingyu、kaifangpingtaijixiaofeizheyewu、zhihuichengshi、yunyingshang、zhihuiqiche、zhihuiyiliao、zhihuijinrongdengqigefangxiang。

dankedaxunfei2023nianbannianbaoxianshi，jiaoyuchanpinhefuwu、kaifangpingtaishouruzaikedaxunfeizongyingshouzhonghejizhanbijiejin50%，zhinengjiaoyuyingjianzhujianzhichengqikedaxunfeideweilai。

图源：科大讯飞

suizhe2023niandamoxingdekuaisufazhan，yikedaxunfei、wangyiyoudao、baidu、aliweidaibiaodehulianwanggongsi，heyidushulang、zuoyebang、xueersiweidaibiaodek12xiangguangongsi，junzaijiasutuidongxuexijihedamoxingdechangjingronghe。

ruxueersixpad2 proxiliexuexiji，yixueersijiuzhangdamoxingzuowei“aixinpian”；baidutuichudexiaoduqinghexuexishouji，dazai“xiaodulingjidamoxing”，kedaxunfeituichudeaixuexijit20dazaixunfeixinghuodamoxing。

rujuchangshangzengduo，rangdangqiandamoxingxuexijiyinglaineijuanhua、gongnengtongzhihua。runianji+banben+xueke+jiezhuaipigaizuoye、chaloubuque、xitituijian+huyanmoshijihushidamoxingxuexijidebiaopei。

chumianduiyigegaoduneijuandeshichang，xiaoshouqudaobuzu、xianjinliuduanqi，yijihouxuxingyekenengchuxiandejiagezhan，zheirangx20chengqiquancundexiwang，bangzhuwangyiyoudaokaipixinweilai，mianlinbuxiaodetiaozhan。

一、大模型学习机，如何打动更多家长的心？

hechangshangbujudamoxingxuexijixiangduijijingouchengmaodundeshi，shimianshangdamoxingxuexijixiaoliangkanyou。wangyiyoudaofabuhuijieshude24xiaoshinei，qitianmaohejingdongguanfangqijiandianx20yudingrenshufenbiewei4renhe95ren，shuangpingtaidingdanliangjinzaibaitai。

xueersixpad2 proxiliexuexijizaitianmaohejingdongguanfangqijiandianzhongpinglunliangjunbuzubaitiao、pinglunjiaoshaodebeihou，cemianfanyingchuchanpinxiaoliangbujia。

dazaiwenxinyiyandamoxingdexiaoduzhinengxuexijip20 prohekedaxunfeit20xuexijijin14tianzaidouyinpingtai，rijunxiaoliangfenbiewei52taihe78tai。huanyanzhi，damoxingxuexijizaijiazhangduanrengchuzaidishentoujieduan。

dixiaoliangdebeihou，biaomianshangkanshidamoxingxuexijigaoangdeshoujiaquantuilejiazhang。youdaoaixuexijix20shoujia5999yuanqi，kedaxunfeit20xilie7299yuanqi，xueersixpad2 proxiliegaoda8599yuanqi。

danruoshidamoxingxuexijizhennengtigaozijiahaizichengji，jishijiazhangduidamoxingbulejieqiejiagegao，tamenyeyuanyiweiqimaidan，dandamoxingxuexijixiangzhenzhengtigaohaizichengji，kongpahaixuchixunuli。

laizianhuishengfuyangshimouxiaoxueyuwenlaoshizhumin（huaming）gaosudonews，dianzichanpinbaofaniandaichengzhangde10hou，muqianzizhilixiangduijiaocha。dushu、wanchengzuoyeguochengzhongruowurenjiandu，tamendezuoyekeyiyituozaituo，shenzhihanshujiaqianyitianwanshanggangongqijibenshichangtaihua。

suishuoshimianshangdamoxingxuexijiduidouyin、kuaishou、youxijinxingxianzhi，danjiazhangyiranhuijuededamoxingxuexijijiushidianzichanpin，ranghaiziyizhishiyongdianzichanpin，tamenbujinxingjiandudehua，haizixuexixiaolvyirandixia。jiruci，burubamaidamoxingxuexijidefeiyong，sixiajihaizibaoban，zheibijiqigengjiakaopu。

zhuminyetanyan，zijijingchangquanjiejiazhangranghaiziduoduzhizhishu，shaoyongdianzichanpin。bijingdushudeguochengzhong，keyibuduanqifaxiaoxueshengdexiangxiangli、chuangzaoli，zheiduixiaoxueshengxiezuojiqizhongyao。dandamoxingxuexijizhongdezuowenpigai，queeshalehaizidexiangxiangli。erqiezheiyiguochengzhibiaobuzhiben，ruohaizibuchixuwanchengshenhoudeyuedujilei，kaoshizhongdezuowenhennanhuodegaofen。

qier，yichatgptweidaibiaoderenleifankuiqianghuaxuexi（rlhf）suanfa，duiyuyixiezhongfuxingjigaodegongzuo，kejingguofanfudixunlianjidaoyonghuzuiyoujie。k12jiaoyuzhongdeyuwen、yingyudengwenzileixiangguanxuekedamoxinghuoxuhuiyouyouyibiaoxian。

zaixiaoshengchu、zhongkao，youqishiwenkeleigaokaozhong，yuwenhennanlakaichengji，shuxuequeshilakaichengjideguanjian。ranershuxuedeluojisiweituilinenglihejisuannengli，bingbushikaodamoxingjinxingshujuweiyangjikewanchengde。ruwomenrangxunfeixinghuojisuangaozhongshuxuechangjiandeyuanzhuitimu，nanduxiangduijiaoxiaoqieweisongfentidediyiwen，xunfeixinghuodaanzhijiebaocuo。

图源：讯飞星火官网

dierwenzhongxunfeixinghuosuijichuwanzhengdejiexiguocheng，danqijichudedianpshizhongzaix=-2yundonghezhengquedaandianpshizhongzaix=-1shangyundongxiangbi，zaicicuowu。lvlvchucuoxia，youhetanrangjiazhangweidamoxingxuexijimaidanni？

womenjiangtongyangdewentipaojixueersijiuzhangdamoxinghou，qidiyiwensuihuidazhengque，dandierwenyiranchuxiancuowu。shishishang，shuxueyuyan“qianzibaitai”qieshifenchouxiang。yinci，xiangrangdamoxingwanquanlijietiyi，lianxishangxiawengengshinanrudengtian。

图源：学而思九章大模型

tongshi，suizhexueduandezengjia，shitibujinyaojiyu“guiding”deshuxueyuanli，haiyaoshikeluoshidaokebiaoshang，erjiyushujuchanshengdedamoxingruguobuyushijujin，ziranwufajichuzhengquedaan。

erqiewangyiyoudaoxiangjiaoyuyoushang，yemianlinzhebuzu。yifangmian，wangyiyoudaozhenzhengyoushikemuweiyingyu，zheidiancongshangwensuoshudewangyiyoudaozhuanxinghoudeyingjianchanpinzhengtiyiyingyuleichanpinweizhucemianyenengkanchu。shuxuebenjiubuzhanyoushi，diejiadangqiandamoxingtuilinenglizhengtishangxutigao，wangyiyoudaoruhebaozhengxiaoplaoshizaifudaochugaozhongjuyounandudeshuxutishi，buhuichucuoni？

lingyifangmian，shuangjianzhengceshangweiluodiqian，gedapeixunjigouweizhengqiangshengyuan，xuanchuanyuzuixihuanshiyongmingxiaomingshi。zheizhongxuanchuandebeihou，yeshijiazhangpubianrenweimingxiaomingshiduizhongnandian、yikaodiandebakongshanggengjiayange，jiaoxuejingyangengjiafengfu。damoxingxuexijichangshangshenancili，zhijiejiangxianxiapeixunjigoudexuanchuanyongdaoxianshang。

xueersixpad2 prozaiqixuanchuanyemianzhongjiuqiangdiaoqineirongziyan、kechengyouxueersimingshiluzhi。erwangyiyoudaobuguanruhexuanchuanxiaoplaoshiduomelihai，xingxiangkeruhedingzhi。danxiaoplaoshizuoweiyigexunirenwu，meiyoumingxiaomingshibeishuxia，qizhendenenggoudadongjiazhangdexinma？

二、销售渠道不足，网易有道如何打动05后少年的心？

xueshengzuoweidamoxingxuexijidezuizhongshiyongzhe，riyichengzhangqilaide05hou，yuanbiwaijiexiangxiangdehaiyaochengshu。tamengouwushichugengqinglaiyuzijizuojuecewai，yegengzhuzhongxianxiatiyan。qieduiyuxuexijilaishuo，benshenjiuxujianlizaijiaohaodetiyanshang，cainengcuchengjiaoyi。jiyuci，changshangbixuyouwanzhengdexianxiaqudao，cainengyinghe05houxueshengdexuqiu。

danheyoushangxiangbi，xianxiaqudaoqueshiwangyiyoudaodeduanban。rububugaoguanwangxianshi，bubugaojiaoyudianzizaiquanguogeshangchang、chaoshi、shudianhetongxunzhuanyingdiansheyouchaoguo18000gezhongduanxiaoshouwangdian，zaigeshengquzhuyaochengshisheyouchaoguo400jia4sfuwutiyandian，fuwufugaizhongguodalugechengxiang。

“jiaoyuzhinengyingjiandiyigu”dushulangmiaozhunxiachenshichang，qizhaogushuxianshi，2019nianweiyusanxianjiyixiachengshidexiaoshoudianshumuzhanxiaoshouzongdianshude68.6%，2021niantishengzhi70.9%。

kedaxunfeixianxiaqudaosuibujibubugao、dushulangdengchuantongchangshang，danketongguozhiqiande2gjiaoyufuwu，nenggouhenkuaiqierudaoxuexiaodekehoufudaoguocheng。yihaoweilaiweidaibiaodek12peixunjigou，chuyouxianchengdechangdiwai，yeyoufengfudejiazhangziyuan。

danwangyiyoudaoruoxiangbuqixianxiaqudaoduanban，youhetanrongyi？duibiaozhinengshoujixingyelaikan，muqianchuovyigoujianwanzhengdesheng→di→xian→zhenzhujianfenfaqudao，qitashoujichangshangxiangzhenshichangjunshikongbaiquyu。danovwanzhengqudaodebeihou，shizeshidangnianbubugaodianzishidaidequyudailishang，shuangfangliyikunbangyijiu。

jishikaolvdaomuqianguoneizhongxibuxiangzhenyijideshichang，xueshengshengyuanxiangduijiaoshao，bukaolvzheiyiqudao。dansheng→di→xianzhujianfenfaqudaodegoujian，yexuwangyiyoudaotourugengduozijin、renyuanzhichi，zheiduiwangyiyoudaodexianjinliuyoutichugenggaoyaoqiu。

ruowangyiyoudaobuzijianqudao，hedushulangyiyangxuanzejiamengluxian。danxianxiaqudaoshangbenjiushizhuixunliyizuidahuadeshangren，wangyiyoudaodanyidechanpinxianduijiamengshangshifougouchengxiyinlini？

gengshencenglaikan，xianshangqudaozuodeshiliuliangshengyi，xianxiaqudaozuodequeshirenqingshigu，renxingshengyi。xiangjiaoyulingshizhekoudian、kafei、xinchayindengyetai，shengenghulianwangxingyeduoniandewangyiyoudao，xianxiashengyijuefeishizishensuoshanzhangde。

xianxiaqudaobuzu，yiweizhewangyiyoudaojiangdianshangpingtaihuodarenyouzhegenggaoyilai。danzaidangqiandianshangpingtaizaidijiahunzhanzhong，zheishifouhuirangwangyiyoudaozaihepingtaihuodarenhezuoguochengzhong，sangshidingjiaquan，jineryinfajiagetixidewenluanni？

huoxuwangyiyoudaoketuichuruzhibojianmianfeitiyan、xiantiyan、houfukuanfangshidengfangshi，jiejuexianxiaqudaodeduanban。danmuqiandamoxingxuexijidegaoshoujia，hedouyinzhibojianzhuiqiudijiawanquanshimaodunde，jinerdaozhidamoxingxuexijizaidouyinzhibojianzhuanhualvjidi。rukedaxunfeit20xilieduokuanlianjie，yijixiaodupingbanxuexijixiliedouyinzhibojianzhuanhualvbuzu3%。

kaolvdaodangqiandouyinzhibojiangaotouliu、gaotuikuanlv、gaoyunyingchengben，wangyiyoudaoruoxiangkaozhibojianchixudaidongx20xuexijixiaoliangtisheng，qibiranyaofuchugenggaodetuiguangchengben，yijijieshoudiroi，qigaocengyoushifouyuanyini？

gengshencenglaikan，xianshangqudaojuebukenengchengweipinpaidehuchenghe。buguanshidangnianyikaoxianshangbaohuodexinxiaofei，huoshirujindouyinzhibojianwanfayichengshuhua、tixihua、xiangduibiaozhunhua，junjuedingxianshangqudaodemoshijuyoujiqiangdefuzhixing。xiaoshouqudaobuzu，x20youyaoruhechengweizhenzhengdebaopinni？

三、现金流短缺下，网易有道如何应对行业变化？

conghouxulaikan，buguanshiwangyiyoudaoduidamoxingdechixuxunlian，buduantigaoqishuchunengli，huoshibuqixianxiaqudaoduanban，zaihuoshixianshangpingtaichixutuiguang，bangdingdaiyanrentigaox20zhimingdu，junxuwangyiyoudaotourugengduoxianjinliu。

wangyiyoudao2023niansanjiducaibaoxianshi，gaijiduwangyiyoudaochiyoudexianjin、xianjindengjiawu、shouxianzhixianjin、dingqicunkuanheduanqitouziwei3.6yiyuan。youxiandexianjinliuxia，wangyiyoudaoyunyinglirunlvwei-3.7%，shangweishixianzifuyingkui。qiegaijiduhetongfuzhaiwei9.316yi，xianjinliuyalijuda。

suishuociqianwangyiyoudaohuodewangyiduoxiangcaiwuzhichi，rubaokuo8.78yiyuandeduanqidaikuan，jigenju3yimeiyuandexunhuandaikuananpaideyu2027nian3yue31ridaoqide8600wanmeiyuandezhangqidaikuan。dan2023nian12yueyouxixingyexinguiyijiangaofabuhou，wangyiganggugujiachixubaodie。

qiexiangjiaoyutengxuneryan，xinguiduiwangyiyouxiyewuyingxiangkenenggengda。muqianyouxishouruzaiwangyizongyingshouzhongzhanbi70%—80%，haiwaizhanbiyuezai10%。huanyanzhi，bentuyouxishouruzhanwangyizongshourude65%，tengxunzheiyishuzizhanbiwei22%。ruohouxuyouxixinguizhenzhengluodi，wangyizishenshourushoudaoyanzhongchongjixia，qijidaoyoudaodezhichiyeshishuyouxian。

gengxianshidewenti，x20houxuhuojiangmianlinxingyegengweicanliedejiagezhan。xianjieduanzhinengjiaoyuyingjianchanpinpubiancunzai“gaojiadipei”deqingkuang，jihuquanbuxuexijichanpindouzichengjuyouaixuexinengli，danshichangjiagequjiancong1000duoyuandaoshangwanyuanbudengdechanpin。suizhexiaomidengxingjiabiwanjiade“ruju”，yijichangshangweizhengqianggengduoshichangfene，shuifenjiangzhujianbeijichu，jiageyouwanghuiguilixingjieduan。

bujinruci，2023niangedachangshangzaidamoxingdexunlianshangjuntouruzhongjin。weijuntandamoxingyanfachengben，changshangzhiyouzaihuoqugengduoyonghudejichushang，cainengzhujiantansuochudamoxingdeyinglifangshi。jiyuci，bupaichuxianyoudamoxingxuexijichangshangjiangtuichugengduojuyouxingjiabidedamoxingxuexiji，yiwanchengyonghudejileihexunlianshuju。

dangjiagezhanlailinhou，x20ruobujiangjia，henrongyichuxiankucungaoqi，qieshouxianyuyonghushujubuzu，damoxingnengliwufatigao。ruogensuijiangjia，qibiranhuiduilirungouchengchongji。liangnanzhixia，wangyiyoudaoyouyaozuohejuezeni？

结语：

bukefourendeshi，suizhechangshangzaidamoxinghejiaoyushangdeshendutansuo，huoxuweilaiyenengjiangguoneijiaoyutuizhixindegaodu。danwangyiyoudaoxiangyaokaodamoxingxuexijizhengjiudimideyejihegujia，zheitiaoluxiangyaopaotong，yiranzhongrendaoyuan。