Document:

EX-4.16

 Exhibit 4.16 

Exclusive Option Agreement 
 This
Exclusive Option Agreement (hereinafter referred to as this “Agreement”) is entered into by and among the following parties in Beijing on May 10, 2018: 
  

	Party A:	 Beijing Dexin Dongfang Network Technology Co., Ltd., a wholly foreign-owned enterprise duly incorporated
and validly existing within the territory of the People’s Republic of China (hereinafter the “PRC”) with its uniform social credit code of 91110108MA01AWYY4A and its registered address at Suite 304, F/10, Block B, Building No. 3,
Haidian Avenue, Haidian District, Beijing; 

  

	Party B:	 New Oriental Education Technology Group Limited, a limited liability company duly incorporated and
validly existing within the territory of PRC with its uniform social credit code of 91110108726367151N and registered address at F/9, 6 Haidian Middle Street, Haidian District, Beijing; 

Linzhi Tencent Technology Co., Ltd., a limited liability company duly incorporated and validly existing within the territory of PRC with
its uniform social credit code of 91540400MA6T10MD6L and its registered address at 202-3 Linzhi Biotechnology Industrial Park, Bayi Town, Bayi District, Linzhi City, Tibet; 

Tianjin Xuncheng Yiyue Technology Partnership (L.P.), a limited partnership enterprise duly incorporated and validly existing within the
territory of PRC with its uniform social credit code of 91120222MA05P74885 and its registered address at Suite 1105, Integrated Office Building, Beijing-Tianjin Electronic Commerce Industrial Park, Wuqing District, Tianjin; 

Tianjin Xuncheng Luyue Technology Partnership (L.P.), a limited partnership enterprise duly incorporated and validly existing within the
territory of PRC with its uniform social credit code of 91120222MA06H05071 and its registered address at Suite 1106, Integrated Office Building, Beijing-Tianjin Electronic Commerce Industrial Park, Wuqing District, Tianjin; 

Tianjin Xuncheng Bayue Technology Partnership (L.P.), a limited partnership enterprise duly incorporated and validly existing within the
territory of PRC; with its uniform social credit code of 91120222MA05P38239 and its registered address at Suite 1108, Integrated Office Building, Beijing-Tianjin Electronic Commerce Industrial Park, Wuqing District, Tianjin; 

 Tianjin Xuncheng Jiuyue Technology Partnership (L.P.), a limited partnership
enterprise duly incorporated and validly existing within the territory of PRC with its uniform social credit code of 91120222MA05P29199 and its registered address at Suite 1109, Integrated Office Building, Beijing-Tianjin Electronic Commerce
Industrial Park, Wuqing District, Tianjin; 
 Tianjin Xuncheng Shiyue Technology Partnership (L.P.), a limited partnership enterprise
duly incorporated and validly existing within the territory of PRC with its uniform social credit code of 91120222MA05N0621A and its registered address at Suite 1110, Integrated Office Building, Beijing-Tianjin Electronic Commerce Industrial Park,
Wuqing District, Tianjin; 
 Tianjin Xuncheng Shieryue Technology Partnership (L.P.), a limited partnership enterprise duly
incorporated and validly existing within the territory of PRC with its uniform social credit code of 91120222MA06H0486G and its registered address at Suite 1107, Integrated Office Building, Beijing-Tianjin Electronic Commerce Industrial Park, Wuqing
District, Tianjin; 
 Tianjin Xuncheng Shisanyue Technology Partnership (L.P.), a limited partnership enterprise duly incorporated and
validly existing within the territory of PRC with its uniform social credit code of 91120222MA06G95810 and its registered address at Suite 1111, Integrated Office Building, Beijing-Tianjin Electronic Commerce Industrial Park, Wuqing District,
Tianjin; 
 (The foregoing enterprises listed as Party B are all of the existing shareholders of Party C, with their contributions to and
shares in Party C’s registered capital as set forth in Appendix I.) 
  

	Party C:	 Beijing New Oriental-Xuncheng Network Technologies Co., Ltd., a company limited by shares duly
incorporated and validly existing within the territory of PRC with its uniform social credit code of 9111010877256341X4 and registered address at 801-01 F/8 Haidian East Third Street, Haidian District,
Beijing; 

 Party A, Party B and Party C are hereinafter referred to as a “Party” individually, and collectively as the
“Parties”.) 

 WHEREAS: 

Party B holds a total of 100% equity interest in Party C. NOW, THEREFORE, intending to be lawfully bound, the foregoing Parties hereby agree as follows upon
friendly consultation with respect to Party A’s or its designated third party’s purchase of the equity interest held by Party B in Party C: 
  

	1.	 Exclusive Purchase of Option 

 

	1.1	 Commencing from the date on which this Agreement is executed, in any of the following circumstances, Party A
shall have the right to, at any time, request Party B (subject to Party A’s specific request) transfer all or part of the 100% equity interest held by Party B in Party C (hereinafter the “Subject Matter Equity”), and Party B shall, at
Party A’s request, transfer the “Subject Matter Equity” to Party A or any third party designated by Party A: 

  

	 	(1)	 Party A or any third party designated by Party A is permitted by PRC laws and regulations to hold all or part
of the Subject Matter Equity; or 

  

	 	(2)	 Any other circumstance deemed by Party A as appropriate or necessary to the extent permitted by PRC laws and
regulations. 

 Any equity interest to be purchased by Party A under this Contract shall be exclusive, unconditional and
irrevocable. 
  

	1.2	 The Parties agree that, subject to the terms and conditions of this Agreement and to the extent not
inconsistent with PRC laws, Party A shall have the right to decide to exercise all or part of the exclusive purchase option and obtain all or part of the Subject Matter Equity. The Parties further agree that Party A shall not be subject to any
restriction in terms of the time, method, quantity and frequency of its exercise of the exclusive purchase option under this Agreement. 

  

	1.3	 The Parties agree that, subject to the terms and conditions of this Agreement and to the extent not
inconsistent with PRC laws, Party A may designate any third party to accept the transfer of all or part of the Subject Matter Equity, and Party B shall not refuse to transfer all or part of the Subject Matter Equity to such designated third party
unless expressly prohibited by PRC laws. 

  

	1.4	 Before all the Subject Matter Equity is transferred to Party A or any third party designated by Party A
pursuant to this Agreement, i.e., before Party B ceases to hold any equity interest in Party C, Party B shall not transfer the Subject Matter Equity to any third party without Party A’s prior written consent. In addition, unless the existence
of other Equity Pledge Agreement separately executed by Party A and Party B, Party B shall not pledge the Subject Matter Equity to any third party or create any encumbrance thereon. 

 

	1.5	 Party B agrees that as Party C’s shareholder, if Party B obtains any dividend, bonus or remaining assets
lawfully from Party C before Party B transferred the Subject Matter Equity of Party C to Party A, it will pay all the proceeds to Party A promptly upon receiving such proceeds subject to compliance with relevant PRC laws and regulations and after
paying the taxes or fees required by relevant laws and regulations. 

	2.	 Procedures 

  

	2.1	 If Party A decides to exercise the exclusive purchase option pursuant to the foregoing Article 1.1, then it
shall send a written notice to Party B (in the format as set forth in Appendix IV hereto), stating the proportion or quantity of the Subject Matter Equity to be transferred and the name and status of the transferee. Party B and Party C shall, within
seven days from receipt of Party A’s notice, provide all necessary materials and documents for handling the formalities for equity transfer registration, including the execution of an Equity Transfer Contract and Letter of Consent in the format
as set forth in Appendix II and III hereto. 

  

	2.2	 To the extent not inconsistent with PRC laws, except for the notice as set forth in Article 2.1 hereof, Party
A’s exercise of its option to purchase the Subject Matter Equity shall not be subject to any other prerequisite or collateral conditions or procedures. 

  

	2.3	 Party B shall provide Party C with necessary and timely assistance in completing the approval formalities with
the approval authorities (if so required by law) and completing the formalities for equity transfer with the industrial and commercial administration. 

  

	2.4	 The completion of the transfer formalities for all the 100% equity interest of Party C pursuant to this
Exclusive Purchase Option Agreement shall mean the completion of the exercise of the exclusive purchase option. 

  

	3.	 Transfer Price 

 

	3.1	 The Parties acknowledge that to the extent not inconsistent with PRC laws and regulations, the Subject Matter
Equity shall be transferred without consideration or at the lowest price permitted by PRC laws and regulations. If the Subject Matter Equity is transferred by stages or in batch, then the relevant amount of the transfer prices shall be determined
based on the specific time of transfer and the proportion of the Subject Matter Equity to be transferred. 

  

	3.2	 The Parties shall, pursuant to the law, be respectively liable for the taxes and fees arising from the transfer
and subsequent donation of the Subject Matter Equity. 

  

	3.3	 If the Subject Matter Equity is not transferred in the method of unrequited transfer, then Party B agrees that,
when Party A or Party A’s third party exercises its option, all the prices for exercising the option obtained by Party B shall be donated to Party C without any consideration, or be fully donated to Party A or its designated third party at
Party A’s request. 

  

	4.	 Undertakings and Warranties 

 

	4.1	 Each Party hereby represents and warrants to the other Parties as follows: 

 

	 	(1)	 Such party has all the necessary power, capacity and authority to enter into this Agreement, exercise all the
rights under this Agreement and perform all its obligations and liabilities under this Agreement; 

	 	(2)	 Such party has undergone all necessary internal procedures, and obtained all necessary internal and external
authority and approval, for executing this Contract; and 

  

	 	(3)	 The execution or performance of this Agreement will not constitute a breach of any major contract or agreement
governing such party or its assets. 

  

	4.2	 Party B and Party C severally and jointly make the following further representations, undertakings and
warranties to Party A: 

  

	 	(1)	 On the effective date of this Agreement, all the companies listed in this agreement as Party B shall be
enterprises incorporated within the territory of PRC and lawfully possess all the equity interest in Party C, and has full and valid right to dispose of such equity. Party C’s registered capital has been paid in full. Except for the pledge
rights created under the Equity Pledge Agreement executed by the Parties, and any other rights approved by Party A in writing, no mortgage, pledge, security or other third-party encumbrances have been created on the equity interest held by Party B
in Party C, and such equity interest shall be free from any third-party recourse. And no third party shall have the right to request any allocation, distribution, sale, transfer or conversion of any equity interest in Party C pursuant to any
purchase of option, conversion right, preemptive right or other agreements. 

  

	 	(2)	 During the term of this Agreement, except for the pledge rights created pursuant to the Equity Pledge Agreement
executed by the Parties or with Party A’s prior written consent, Party B shall not transfer any equity interest in Party C to any third party, or create any mortgage, pledge or any other form of security or any other third-party encumbrances,
and shall warrant that such equity interest is free from any third-party recourse. 

  

	 	(3)	 To the extent permitted by relevant PRC laws and regulations, Party B and Party C shall, based on Party
A’s term of operation approved, extend Party C’s term of business accordingly so that it is consistent with Party A’s term of business. 

  

	 	(4)	 During the term of this Agreement, Party B and Party C will make their utmost efforts to preserve and increase
the value of Party C’s assets. Unless with Party A’s prior written consent, they may not transfer or otherwise dispose of Party C’s assets, terminate any major agreement to which Party C is one of the parties, or enter into any
agreement that may affect Party C’s assets or financial condition. 

	 	(5)	 If Party C is liquidated or dissolved during the term of this Agreement, Party B and Party C will appoint
personnel recommended by Party A to form a liquidation committee to manage Party C’s property to the extent permitted by PRC laws and regulations. Party B acknowledges that in the event Party C is liquidated or dissolved, no matter whether the
foregoing provision hereof is performed, it agrees to deliver all the remaining property obtained from the liquidation of Party C to Party A or its designated third party pursuant to PRC laws and regulations. 

 

	5.	 Appendices 

The appendices hereto shall constitute an integral part of this Agreement and shall have the same legal effect as the remaining parts of this Agreement. 

 

	6.	 Confidentiality 

All terms of this Agreement and this Agreement itself shall be confidential information, and none of the parties may disclose to any third party, except to any
officers, directors, employees, agents or professional consultants in connection with this project and with duty for confidentiality to such party, and unless that either party is required by laws to disclose any information relating to this
Agreement to any government, stock exchange or relevant regulatory authorities, the public or shareholders or file this Agreement with the relevant authorities for the record. This provision shall be legally valid regardless of whether this
Agreement is altered, terminated or expires. 
  

	7.	 Liability for Breach of Agreement 

If either party fails to perform any of its obligations under this Agreement, or any of such party’s representations or warranties under this Agreement is
materially untrue or inaccurate, then such party shall constitute a breach of this Agreement and shall make full compensation for any economic losses actually sustained by the other party. 

 

	8.	 Miscellaneous 

 

	8.1	 This Agreement shall be governed by PRC laws in all respects. Any dispute arising from the performance of this
Agreement shall be resolved by the Parties through friendly negotiation. If such consultation is unsuccessful, the dispute shall be submitted to China International Economic and Trade Arbitration Commission (CIETAC) for arbitration in accordance
with the then valid arbitration rules of CIETAC to be conducted in Beijing in Chinese. The arbitration award shall be final and binding on all parties. The remaining parts of this Agreement other than the part submitted for arbitration shall remain
valid. Subject to relevant provisions of PRC laws, the arbitrators may issue injunctive relief with respect to Party C’s equity or assets (e.g., conduct of business activities or compulsory asset transfer), take interim remedial measures, or
order liquidation of Party C through arbitration. Subject to relevant provisions of PRC laws, pending the constitution of the arbitral tribunal or on an appropriate occasion, the court having competent jurisdiction (including any court in Hong Kong,
the place of incorporation of Party A’s affiliate listed or to be listed, the place of incorporation of Party C, or the place of incorporation of its affiliate listed or to be listed, or the place where Party C’s major assets are located).
Upon the effectiveness of the arbitration award, either party shall have the right to apply for the enforcement of the arbitration award with the foregoing court having competent jurisdiction. 

	8.2	 This Agreement shall be effective as of the date on which it is signed by the Parties, and shall expire after
Party A or its designated third party exercises its option under this Agreement and obtains the 100% equity interest in Party C or 30 days after Party A sent a written notice of terminating this Agreement to the other Parties.. To the extent
permitted by laws and regulations, upon termination of this Agreement, Party B shall refund the transfer prices (if any) paid by Party A or its designated third party by exercising its exclusive purchase option under this Agreement to Party A or its
designated third party. 

  

	8.3	 The Parties acknowledge that this Agreement shall be enforced to the extent permitted by law. If any provision
or any part of a provision of this Agreement is held by any authorities or court having competent jurisdiction to be illegal, invalid or unenforceable, then such illegality, invalidity or unenforceability shall not affect the remaining provisions or
other parts of the provision of this Agreement which shall remain in full force and effect, and the Parties shall make their utmost efforts to amend such illegal, invalid or unenforceable provisions to realize the purpose of the original provisions.

  

	8.4	 As the holding company of Party A will be subject to the Rules Governing the Listing of Securities
on the Stock Exchange of Hong Kong Limited (hereinafter the “Listing Rules”) and relevant listing policies, decisions and guidelines after being listed, if the transaction under this Agreement fails to comply with the
Listing Rules, listing policies, decisions or guidelines, then, to the reasonable and feasible extent not inconsistent with PRC laws, the Parties to this Agreement shall amend this Agreement based on the laws, regulations or regulator opinions
issued by the Stock Exchange of Hong Kong or other regulatory authorities to make this Agreement comply with the Listing Rules, listing policies, decisions or guidelines. 

 

	8.5	 This Agreement shall be written in Chinese and made in eleven counterparts, one of which shall be held by Party
A, Party B’s Subsidiaries and Party C respectively. 

  

	8.6	 The appendices hereto shall constitute an integral part of this Agreement and shall have the same legal effect
as the remaining parts of this Agreement.. This Agreement and its appendices shall constitute the entire agreement concerning the transaction under this Agreement, and shall supersede any and all communication, commitments, understandings or other
discussions made with respect to the subject matter hereunder orally or in writing. 

  

	8.7	 Any amendment or supplement to this Agreement shall be made in written form, and may be effective only after it
is validly signed by the Parties to this Agreement. 

	8.8	 The rights and obligations under this Agreement shall be legally binding on the transferees or successors of
the Parties’ rights or obligations (regardless of whether such transfer of rights and obligations arise from acquisition, reorganization, inheritance, assignment or other reasons). If Party B ceases to have its legal person status due to its
merger, division, dissolution, termination, closure, liquidation or any other reason, or in the event of any circumstance that may affect Party B’s exercise of its rights as Party C’s shareholder, then any of Party B’s successors,
administrators or liquidators shall cooperate with other parties to this Agreement in making necessary arrangements and executing all necessary documents to prevent such successors, administrators or liquidators from damaging or hindering the
performance of this Agreement. 

 (The remainder of this page is intentionally left blank) 

 (The remainder of this page is intentionally left blank; execution page of the Exclusive Option Agreement
only) 
 Party A: Beijing Dexin Dongfang Network Technology Co., Ltd. (seal) 

/s/ seal 
 Signed by the Legal Representative or Authorized
Representative: 
 /s/ the Legal Representative or Authorized Representative 

 (The remainder of this page is intentionally left blank; execution page of the Exclusive Option Agreement
only) 
 Party B: New Oriental Education Technology Group Limited (Beijing) (Seal) 

/s/ seal 
 Signed by the Legal Representative or Authorized
Representative: 
 /s/ the Legal Representative or Authorized Representative 

 (The remainder of this page is intentionally left blank; execution page of the Exclusive Option
PurchaseAgreement only) 
 Party B: Linzhi Tencent Technology Co., Ltd. (seal) 

/s/ seal 
 Signed by the Legal Representative or Authorized
Representative: 

 (The remainder of this page is intentionally left blank; execution page of the Exclusive Option Agreement
only) 
 Party B: 
 Tianjin Xuncheng Yiyue Technology
Partnership Enterprise (L.P.) (seal) 
 /s/ seal 
 Signed
by the Legal Representative or Authorized Representative: 
 /s/ the Legal Representative or Authorized Representative 

Tianjin Xuncheng Luyue Technology Partnership Enterprise (L.P.) (seal) 

/s/ seal 
 Signed by the Legal Representative or Authorized
Representative: 
 /s/ the Legal Representative or Authorized Representative 

Tianjin Xuncheng Bayue Technology Partnership Enterprise (L.P.) (seal) 

/s/ seal 
 Signed by the Legal Representative or Authorized
Representative: 
 /s/ the Legal Representative or Authorized Representative 

Tianjin Xuncheng Jiuyue Technology Partnership Enterprise (L.P.) (seal) 

/s/ seal 
 Signed by the Legal Representative or Authorized
Representative: 
 /s/ the Legal Representative or Authorized Representative 

 (The remainder of this page is intentionally left blank; execution page of the Exclusive Option Agreement
only) 
 Party B: 
 Tianjin Xuncheng Shiyue Technology
Partnership Enterprise (L.P.) (seal) 
 /s/ seal 
 Signed
by the Legal Representative or Authorized Representative: 
 /s/ the Legal Representative or Authorized Representative 

Tianjin Xuncheng Shieryue Technology Partnership Enterprise (L.P.) (seal) 

/s/ seal 
 Signed by the Legal Representative or Authorized
Representative: 
 /s/ the Legal Representative or Authorized Representative 

Tianjin Xuncheng Shisanyue Technology Partnership Enterprise (L.P.) (seal) 

/s/ seal 
 Signed by the Legal Representative or Authorized
Representative: 
 /s/ the Legal Representative or Authorized Representative 

 (The remainder of this page is intentionally left blank; execution page of the Exclusive Option Agreement
only) 
 Party C: Beijing New Oriental-Xuncheng Network Technologies Co., Ltd. (seal) 

/s/ seal 
 Signed by the Legal Representative or Authorized
Representative: 
 /s/ the Legal Representative or Authorized Representative 

 Appendix I: Party B 

Party C’s existing shareholders and their respective contributions to and shares in Party C’s registered capital 

 

									
	 Company Name
	  	Subscribed Registered
Capital (RMB10,000)	 	  	Shares in the
Registered Capital	 
	 New Oriental Education Technology Group Limited
	  	 	122,351,229	 	  	 	74.4945	% 
	 Linzhi Tencent Technology Co., Ltd.
	  	 	22,125,000	 	  	 	13.4710	% 
	 Tianjin Xuncheng Yiyue Technology Partnership (L.P.)
	  	 	I, 137,840	 	  	 	0.6928	% 
	 Tianjin Xuncheng Luyue Technology Partnership (L.P.)
	  	 	3,006,997	 	  	 	1.8308	% 
	 Tianjin Xuncheng Bayue Technology Partnership (L.P.)
	  	 	1,399,874	 	  	 	0.8523	% 
	 Tianjin Xuncheng Jiuyue Technology Partnership (L.P.)
	  	 	2,894,873	 	  	 	1.7626	% 
	 Tianjin Xuncheng Shiyue Technology Partnership (L.P.)
	  	 	2,875,275	 	  	 	1.7506	% 
	 Tianjin Xuncheng Shieryue Technology Partnership (L.P.)
	  	 	1,474,789	 	  	 	0.8979	% 
	 Tianjin Xuncheng Shisanyue Technology Partnership (L.P.)
	  	 	6,976, 123	 	  	 	4.2475	% 
		  	  
	  
	 	  	  
	  
	 
	 Total
	  	 	164,242,000	 	  	 	100	% 
		  	  
	  
	 	  	  
	  
	 

 Appendix II 

Equity Transfer Contract 
 This Equity
Transfer Contract (hereinafter this “Contract”) is entered into by and between the Parties in [                    ] City, PRC, on
                    : 
 The Transferor:
[                    ], with its Uniform Social Credit Code being
[                    ] and its registered address at
[                    ]; and 
 The Transferee:
[                    ] 
 The foregoing parties agree as
follows with respect to the equity transfer through friendly consultation: 
 1.    The Transferor agrees to transfer the
[    ]% equity interest held by it in Beijing New Oriental-Xuncheng Network Technology Co., Ltd. to the Transferee for a price of RMB[            ], and the Transferee
agrees to accept the transfer of such Subject Matter Equity. 
 2.    Upon completing the transfer of the Subject Matter Equity, the
Transferor shall cease to enjoy the rights to such Subject Matter Equity and cease to assume the obligations for such Subject Matter Equity as shareholder, and the Transferee shall enjoy the rights to such Subject Matter Equity as shareholder and
assume the obligations for such Subject Matter Equity as shareholder. 
 3.    For any matters not addressed herein, the Parties may
execute a supplementary agreement. 
 4.    This Contract shall be effective as of the date it is signed by the Parties. 

5.    This Contract shall be made in four counterparts, one of which shall be held by either party, and the others of which shall be used
for handling business registration changes. 
 The Transferor:
[                    ] 
 By: 

The Transferee: [                    ] 

By: 

 Appendix III 

Letter of Consent 
 To: Beijing Dexin
Dongfang Network Technology Co., Ltd. 
 As one of the shareholders of Beijing New Oriental Xuncheng Network Technology Co., Ltd. (hereinafter the
“Company”), we (our Company) hereby agree and acknowledge as follows: 
  

	 	1.	 we agree and accept all the terms and conditions of the Exclusive Option Agreement executed by us and the
Company as one party and Beijing Dexin Dongfang Network Technology Co., Ltd as the other party (hereinafter the “WFOE”) on
[                    ]. 

  

	 	2.	 we agree to waive the preemptive right to purchase when the Company’s other shareholders transfer the
equity interest held by them in the Company to the WFOE and its designated third party. 

  

	 	3.	 we agree that, when the Company’s other shareholders transfer the equity interest held by them in the
Company to the WFOE and its designated third party, we will execute or provide all necessary documents required for handling the equity transfer registration, and cooperate in handling all formalities for transferring the equity interest held by us
in the Company to the WFOE or its designated third party. 

 Regards, 

[            ] 
  

			
	By:	 	  

Date:                     

 Appendix IV 

Option Exercise Notice 
  

			
	To:	  	All the shareholders of Beijing New Oriental Xuncheng Network Technology Co., Ltd.; and
		  	Beijing New Oriental Xuncheng Network Technology Co.

 WHEREAS, we have executed a certain Exclusive Option Purchase Option Agreement with you on
[                    ], which provides that to the extent permitted by relevant PRC laws and regulations, you shall, at our request, sell the equity
interest held by you in Beijing New Oriental Xuncheng Network Technology Co., Ltd. to us or our designated transferee. 
 NOW, THEREFORE, we hereby notify
you of the following: 
 We hereby request to exercise the option under the Exclusive Option Purchase Option Agreement so that we/our designated transferee
[                    ] purchases the [    ]% equity interest held by you in the registered capital of Beijing New Oriental
Xuncheng Network Technology Co., Ltd. (hereinafter the “Proposed Equity”). We would appreciate your assistance in handling the necessary formalities for transferring the Proposed Equity to us/our designated transferee pursuant to the
Exclusive Option Purchase Option Agreement promptly upon receipt of this notice. 
 Beijing Dexin Dongfang Network Technology Co., Ltd. (Seal)

  

			
	By:	 	  

	Name:	 	
	Title:	 	
	Date:EX-4.17

 Exhibit 4.17

Power of Attorney 
 The Enterprise,
Beijing New Oriental Xuncheng Network Technology Co., Ltd. (hereinafter referred to as the “Enterprise” or “Beijing Xuncheng”), is an enterprise legally established in the People’s Republic of China with its uniform social
credit code of 9111010877256341X4 and registered address at 801-01 F/8 Haidian East Third Street, Haidian District, Beijing, currently holding 100% of the shares of Beijing Kuxue Huisi Network Technology Co.,
Ltd. (hereinafter referred to as the “Subsidiary”) and 51% of the shares of Beijing Dongfang Youbo Network Technology Co., Ltd.(hereinafter referred to as the “Dongfang Youbo”) During the time after the signing date of this Power
of Attorney, if the Enterprise invests or controls any other institutions (including but not limited to companies or other subsidiaries with over 50% of the shares directly or indirectly owns by the Enterprise), the Enterprise undertakes to add the
shares held over such subjects to the scope of share under this Power of Attorney. 
 Subject to the laws and regulations of the People’s Republic of
China (hereinafter referred to as “China”), we, in respect of the foregoing shares, as of May 10, 2018, hereby irrevocably authorize Beijing Dexin Dongfang Network Technology Co., Ltd. (hereinafter referred to as “WFOE”) to
exercise the following rights during the term of this Power of Attorney: 
 Exclusively authorize WFOE or its designated person(s) (including but not
limited to directors of WFOE’s shareholders and excluding any non-independent persons or persons may cause any conflict of interests, hereinafter referred to as “the Attorney”) to act as an
attorney-in-fact, on behalf of the Enterprise and at its own will, to exercise the following rights, including but not limited to: 
 1) propose to convene,
and participate in the Shareholders’ Meeting and the Board Meeting according to the articles of association of the Enterprise, as well as sign relevant resolutions thereof and the meeting minutes; 

2) exercise all the rights enjoyed as shareholders and directors of the Enterprise at its Shareholders’ Meeting and the Board Meeting under the laws and
the articles of association of the company, including but not limited to shareholders’ voting rights and the right to nominate and appoint directors and officers of the company (if any); 

3) serve as an attorney-in-fact to submit any documents that shall be submitted by shareholders or directors of Beijing Xuncheng to relevant government
authorities or other regulatory agencies; 
 4) the right to distribute dividends (including the rights to receive and reject dividends) as the shareholder
of the Enterprise, the rights to sell or transfer all or part of the shares and/or assets held by the Enterprise, and the rights to distribute the remaining property obtained after the liquidation of the Enterprise; 

 5) form a liquidation group in case of liquidation or dissolution of the Enterprise and exercise the
functions and powers of the liquidation group during the liquidation according to laws, including but not limited to the management of the assets of the Enterprise. 

6) have the access to review the resolutions of the Shareholders’ Meeting, the resolutions and minutes of the meeting of the Board of Directors or the
Board of Supervisors, and the financial and accounting statements and reports of the Enterprise according to laws; and 
 7) all other rights enjoyed by the
Enterprise as a shareholder of the Enterprise (including but not limited to all rights under the laws of China and the articles of association of the company). 

During the term of this Power of Attorney, the Enterprise undertakes to deliver the WFOE or its designated third party free of charge any dividends, bonuses
or any assets distributed from the Enterprise as soon as possible and no later than three days after the date of receipt of the distribution. 
 During the
period when the Enterprise is a shareholder of Beijing Xuncheng, regardless of the change in the proportion of equity held by the Enterprise, this Power of Attorney shall be irrevocable and remain in force as of the date of signing this Power of
Attorney; only when WFOE issues a written notice to the Enterprise, of removal of the Attorney, the Enterprise shall immediately designate other attorney(s) designated by WFOE at that time to exercise the rights authorized hereunder, and the new
Power of Attorney shall replace the original Power of Attorney once it is issued; except that case, the Enterprise will not cancel the entrustment and authorization granted to the Attorney. During the term of this Power of Attorney, the Enterprise
hereby waives the exercise of all rights authorized to the Attorney under this Power of Attorney and will no longer exercise such rights on its own. Once the Enterprise loses its legal personality due to merger, division, termination, winding up,
dissolution, liquidation or other reasons, or occurrence of other circumstances that may affect the Enterprise to exercise its rights as a shareholder of the Subsidiary and Dongfang Youbo, any successor, administrator or liquidator of the Enterprise
shall succeed to or administer the rights of the Enterprise as a shareholder of the Subsidiary and Dongfang Youbo under the premise of continuing to abide by the provisions of this Power of Attorney. 

 The Enterprise shall acknowledge and assume corresponding responsibilities for any legal consequences
arising out of the exercise of the aforesaid authorized rights by the Attorney. The Enterprise hereby acknowledges that under no circumstances shall the Attorney be required to assume any responsibility or make any economic compensation for the
exercise of the aforesaid authorized rights. The Enterprise agrees to indemnify WFOE from and against and all losses that are suffered or may be suffered from any exercise of the authorized rights by the designated Attorney, including but not
limited to any losses arising from any lawsuit, recovery, arbitration, claim by any third parties or administrative investigation and penalties by governmental authorities. 

The Enterprise will provide full assistance to the Attorney for exercising the aforesaid authorized rights, and will the Enterprise to provide full
assistance, including timely signing the resolutions of the Shareholders’ Meeting, the Board of Directors, or other relevant legal documents already made by the Attorney when necessary (for example, for purpose of submitting documents to
governmental departments to meeting the requirements for approval, registration, and filing) and enabling the Attorney to have the right to get to know the operation, business, customers, finance, employees and other related information of the
company and have access to relevant information of the Enterprise, etc. 
 The Enterprise hereby undertakes and warrants that the aforesaid authorization of
the Enterprise will not result in actual or potential conflicts of interests between the Enterprise and WFOE and/or the Attorney. In case of potential conflicts of interests between the Enterprise and the shareholders of the Enterprise and WFOE or
overseas parent company of WFOE or its subsidiaries, without violating relevant provisions of the laws and regulations of China, the Enterprise shall give priority to protect and shall not impair the interests of WFOE or overseas parent company of
WFOE. For avoidance of doubt, the Power of Attorney shall not be deemed the exercise of the interests within the scope of the Power of Attorney for the Enterprise or any other persons non-independent or
possibly causing conflicts of interests. 
 If the grant or exercise of the aforesaid authorized rights fail to be realized for any reason (except breach by
the Enterprise of the provisions of this Power of Attorney), the parties shall immediately seek the alternative most similar to the unrealizable provisions, and when necessary, sign supplementary agreements to modify or adjust the provisions of this
Power of Attorney, to ensure that the purpose of this Power of Attorney can be realized continually. 
 This Power of Attorney shall be governed by and
construed in accordance with the laws of China. Any and all disputes arising out of the performance of the Power of Attorney shall be settled through amicable negotiation among the parties; if no settlement can be reached through negotiation, the
disputes shall be referred to China International Economic and Trade Arbitration Commission for arbitration in accordance with the arbitration rules thereof then effective. The arbitration shall take place in Beijing. The language of the arbitration
shall be Chinese, and the arbitral award shall be final and binding upon the parties. 

 The Power of Attorney shall become effective as of the date of signing and shall remain in force during the
term of the Exclusive Management Consultant and Business Cooperation Agreement among WFOE, Beijing Xuncheng, the Enterprise and relevant parties. 
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remainder of this page is intentionally left blank; The next page is the execution page.] 

 (The remainder of this page is intentionally left blank; execution page of the Power of Attorney only) 

Beijing New Oriental Xuncheng Network Technology Co., Ltd. (Seal) 

/s/ seal 
 Signed by the Legal Representative or Authorized
Representative: 
 /s/ the Legal Representative or Authorized Representative 

 Power of Attorney 

The Enterprise, [Name of the Enterprise] (hereinafter referred to as the “Enterprise”), is an enterprise legally established in the People’s
Republic of China, currently holding [% of Equity Interest in the Variable Interest Entity] of the shares of Beijing New Oriental Xuncheng Network Technology Co., Ltd. (hereinafter referred to as “Beijing Xuncheng”). Subject to the laws
and regulations of the People’s Republic of China (hereinafter referred to as “China”), we, in respect of the foregoing shares, as of May 10, 2018, hereby irrevocably authorize Beijing Dexin Dongfang Network Technology Co., Ltd.
(hereinafter referred to as “WFOE”) to exercise the following rights during the term of this Power of Attorney: 
 Exclusively authorize WFOE or
its designated person(s) (including but not limited to directors of WFOE’s shareholders and excluding any non-independent persons or persons may cause any conflict of interests, hereinafter referred to as
the “Attorney”) to act as an attorney-in-fact, on behalf of the Enterprise and at its own will, to exercise the following rights, including but not limited to: 

1) propose to convene, and participate in the Shareholders’ Meeting and the Board Meeting according to the articles of association of Beijing Xuncheng,
as well as sign relevant resolutions thereof and the meeting minutes; 
 2) exercise all the rights enjoyed by the Enterprise as shareholders and directors
of Beijing Xuncheng at the Shareholders’ Meeting and the Board Meeting of Beijing Xuncheng under the laws and the articles of association of the company, including but not limited to shareholders’ voting rights and the right to nominate
and appoint directors and officers of the company (if any); 
 3) serve as an attorney-in-fact to submit any documents that shall be submitted by
shareholders or directors of Beijing Xuncheng to relevant government authorities or other regulatory agencies; 
 4) the rights to distribute dividends
(including the rights to receive and reject dividends) as the shareholder of Beijing Xuncheng, the rights to sell or transfer all or part of the shares and/or assets held by the Enterprise in Beijing Xuncheng, and the rights to distribute the
remaining property obtained after the liquidation of Beijing Xuncheng; 
 5) form a liquidation group in case of liquidation or dissolution of Beijing
Xuncheng and exercise the functions and powers of the liquidation group during the liquidation according to laws, including but not limited to the management of the assets of Beijing Xuncheng. 

 6) have the access to review the resolutions of the Shareholders’ Meeting, the resolutions and minutes
of the meeting of the Board of Directors or the Board of Supervisors, and the financial and accounting statements and reports of Beijing Xuncheng according to laws; and 

7) all other rights enjoyed by the Enterprise as a shareholder of Beijing Xuncheng (including but not limited to all rights under the laws of China and the
articles of association of the company). 
 Without causing any limitation to this Power of Attorney, the Attorney shall have the right to sign and perform
on behalf of the Enterprise within the authorization the share transfer contract as set out in the Exclusive Option Purchase Agreement to which the Enterprise is a party; to sign and perform as scheduled in the Equity Pledge Agreement and the
Exclusive Share Option Agreement to which the Enterprise is a party as well as the supplementary agreements thereto. 
 During the term of this Power of
Attorney, the Enterprise undertakes to deliver the WFOE or its designated third party free of charge any dividends, bonuses or any assets distributed from Beijing Xuncheng as soon as possible and no later than three days after the date of receipt of
the distribution. 
 During the period when the Enterprise is a shareholder of Beijing Xuncheng, regardless of the change in the proportion of equity held
by the Enterprise in Beijing Xuncheng, this Power of Attorney shall be irrevocable and remain in force as of the date of signing this Power of Attorney; only when WFOE issues a written notice to the Enterprise, of removal of the Attorney, the
Enterprise shall immediately designate other attorney(s) designated by WFOE at that time to exercise the rights authorized hereunder, and the new Power of Attorney shall replace the original Power of Attorney once it is issued; except that case, the
Enterprise will not cancel the entrustment and authorization granted to the Attorney. During the term of this Power of Attorney, the Enterprise hereby waives the exercise of all rights authorized to the Attorney under this Power of Attorney and will
no longer exercise such rights on its own. Once the Enterprise loses its legal personality due to merger, division, termination, winding up, dissolution, liquidation or other reasons, or occurrence of other circumstances that may affect the
Enterprise to exercise its rights as a shareholder of Beijing Xuncheng, any successor, administrator or liquidator of the Enterprise shall succeed to or administer the rights of the Enterprise as a shareholder of Beijing Xuncheng under the premise
of continuing to abide by the provisions of this Power of Attorney. 
 The Enterprise shall acknowledge and assume corresponding responsibilities for any
legal consequences arising out of the exercise of the aforesaid authorized rights by the Attorney. The Enterprise hereby acknowledges that under no circumstances shall the Attorney be required to assume any responsibility or make any economic
compensation for the exercise of the aforesaid authorized rights. The Enterprise agrees to indemnify WFOE from and against and all losses that are suffered or may be suffered from any exercise of the authorized rights by the designated Attorney,
including but not limited to any losses arising from any lawsuit, recovery, arbitration, claim by any third parties or administrative investigation and penalties by governmental authorities. 

 The Enterprise will provide full assistance to the Attorney for exercising the aforesaid authorized rights,
and will urge Beijing Xuncheng to provide full assistance, including timely signing the resolutions of the Shareholders’ Meeting, the Board of Directors, or other relevant legal documents already made by the Attorney when necessary (for
example, for purpose of submitting documents to governmental departments to meet the requirements for approval, registration, and filing) and enabling the Attorney to have the right to get to know the operation, business, customers, finance,
employees and other related information of the company and have access to relevant information of Beijing Xuncheng, etc. 
 The Enterprise undertakes that,
without the prior written consent of WFOE, the Enterprise will not directly or indirectly participate in, be engaged in, be involved in or possess, or use the information obtained from WFOE or Beijing Xuncheng to participate in, engage in, involve
in or possess any business that competes or may compete with Beijing Xuncheng or its affiliates or main business, nor hold any interests in or obtain any benefits from any business that competes or may compete with Beijing Xuncheng or its affiliates
or main business.1 
 The Enterprise hereby undertakes and warrants that the aforesaid authorization of
the Enterprise will not result in actual or potential conflicts of interests between the Enterprise and WFOE and/or the Attorney. In case of potential conflicts of interests between the Enterprise and Beijing Xuncheng and WFOE or overseas parent
company of WFOE or its subsidiaries, without violating relevant provisions of the laws and regulations of China, the Enterprise shall give priority to protect and shall not impair the interests of WFOE or overseas parent company of WFOE. For
avoidance of doubt, the Power of Attorney shall not be deemed the exercise of the interests within the scope of the Power of Attorney for the Enterprise or any other persons non-independent or possibly causing
conflicts of interests. 
 If the grant or exercise of the aforesaid authorized rights fail to be realized for any reason (except breach by the Enterprise
of the provisions of this Power of Attorney), the parties shall immediately seek the alternative most similar to the unrealizable provisions, and when necessary, sign supplementary agreements to modify or adjust the provisions of this Power of
Attorney, to ensure that the purpose of this Power of Attorney can be realized continually. 
  

	1 	 This paragraph is not applicable to the letter of undertaking of New Oriental Education & Technology
Group Inc. (Refer to Schedule No. 9) 

 This Power of Attorney shall be governed by and construed in accordance with the laws of China. Any and all
disputes arising out of the performance of the Power of Attorney shall be settled through amicable negotiation among the parties; if no settlement can be reached through negotiation, the disputes shall be referred to China International Economic and
Trade Arbitration Commission for arbitration in accordance with the arbitration rules thereof then effective. The arbitration shall take place in Beijing. The language of the arbitration shall be Chinese, and the arbitral award shall be final and
binding upon the parties. 
 The Power of Attorney shall become effective as of the date of signing and shall remain in force during the term of the
Exclusive Management Consultant and Business Cooperation Agreement among WFOE, Beijing Xuncheng, the Enterprise and relevant parties. 
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this page is intentionally left blank; The next page is the execution page.] 

 (The remainder of this page is intentionally left blank; execution page of the Power of Attorney only) 

[Name of the Enterprise] (Seal) 
 /s/ seal 

Signed by the Legal Representative or Authorized Representative: 

/s/ the Legal Representative or Authorized Representative 

 Schedule of Material Differences 

One or more Enterprises entered into the power of attorney using this form respectively with Beijing Dexin Dongfang Network Technology Co., Ltd. (the
“WFOE”) as shareholders of Beijing New Oriental Xuncheng Network Technology Co., Ltd.. Pursuant to Instruction ii to Item 601 of Regulation S-K, the Registrant may only file this form as an exhibit
with a schedule setting forth the material details in which the executed power of attorney differ from this form. 
  

							
	No.	  	 Name of the Enterprise
	  	% of Equity
Interest in the
Variable
Interest Entity	 
	1.	  	Tianjin Xuncheng Yiyue Technology Partnership (L.P.)	  	 	0.6928	 
	2.	  	Tianjin Xuncheng Luyue Technology Partnership (L.P.)	  	 	1.8308	 
	3.	  	Tianjin Xuncheng Bayue Technology Partnership (L.P.)	  	 	0.8523	 
	4.	  	Tianjin Xuncheng Jiuyue Technology Partnership (L.P.)	  	 	1.7626	 
	5.	  	Tianjin Xuncheng Shiyue Technology Partnership (L.P.)	  	 	1.7506	 
	6.	  	Tianjin Xuncheng Shieryue Technology Partnership (L.P.)	  	 	0.8979	 
	7.	  	Tianjin Xuncheng Shisanyue Technology Partnership (L.P.)	  	 	4.2475	 
	8.	  	Linzhi Tencent Network Technology CO., Ltd	  	 	13.4710	 
	9.	  	New Oriental Education & Technology Group Inc.	  	 	74.4945	 
	10.	  	Beijing New Oriental Xuncheng Network Technology Co., Ltd.	  	 	13.4710	 

  

							
	No.	  	 Name of the Enterprise
	  	% of
Equity
Interest
in the
Variable
Interest
Entity	 
	1.	  	Tianjin Xuncheng Yiyue Technology Partnership (L.P.)	  	 	0.6928	 
	2.	  	Tianjin Xuncheng Luyue Technology Partnership (L.P.)	  	 	1.8308	 
	3.	  	Tianjin Xuncheng Bayue Technology Partnership (L.P.)	  	 	0.8523	 
	4.	  	Tianjin Xuncheng Jiuyue Technology Partnership (L.P.)	  	 	1.7626	 
	5.	  	Tianjin Xuncheng Shiyue Technology Partnership (L.P.)	  	 	1.7506	 
	6.	  	Tianjin Xuncheng Shieryue Technology Partnership (L.P.)	  	 	0.8979	 
	7.	  	Tianjin Xuncheng Shisanyue Technology Partnership (L.P.)	  	 	4.2475	 
	8.	  	Linzhi Tencent Network Technology CO., Ltd	  	 	13.4710	 
	9.	  	New Oriental Education & Technology Group Inc.	  	 	74.4945

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