Market Insight | Renowned influencer Dong Yuhui resigns, EAST BUY opens 15% lower, NEW ORIENTAL-S opens nearly 8% lower

According to the Wise Finance APP, EAST BUY announced yesterday that its well-known influencer Dong Yuhui resigned, causing EAST BUY (01797) and New Oriental EDU & Tech-S (09901) to open lower collectively. As of the time of publication, EAST BUY fell by 15% to HKD 10.54, while New Oriental EDU & Tech-S fell by 7.83% to HKD 53.

On the news front, EAST BUY recently announced the resignation of its well-known influencer Dong Yuhui, effective on July 25. In addition, EAST BUY announced the sale of its subsidiary Hui Tongxing to Dong Yuhui for a net asset value of 76.585 million yuan. Subsequently, Yu Minhong responded: In order to express gratitude to Yuhui, in addition to paying all promised benefits, I have earnestly requested the board of directors and the compensation committee for approval to award all net profit bonuses from Hui Tongxing to Yuhui.

Since the "short essay" incident at the end of last year, EAST BUY has once again been embroiled in negative controversies multiple times. As of the time of publication, EAST BUY's market value is approximately 10.8 billion Hong Kong dollars, a decrease of over 60% since early December last year. In addition, Feigua data shows that in the first four months of this year, the sales in the "Hui Tongxing" live broadcast rooms were 932 million yuan, 411 million yuan, 620 million yuan, and 538 million yuan respectively; while EAST BUY's live broadcast room sales during the same period were 639 million yuan, 269 million yuan, 329 million yuan, and 242 million yuan respectively