Movement Alert｜East Buy Falls 5.3% in Regular Trading, Former CEO and Ex-Anchors Launch Rival Company Sparking Competition Fears

Market Focus07-13 10:00

On July 13, East Buy declined 5.3% in regular trading, trading at HKD 21.04/share, with turnover of HKD 46.08 million.

On the news front, East Buy's former CEO Sun Dongxu and former livestream anchors Shi Ming (Mingming) and Guo Tianquan (Tianquan) co-founded Beautiful Tomorrow (Beijing) Technology Co., Ltd. on July 10, with registered capital of RMB 10 million. Sun Dongxu holds 34% equity and serves as manager, director, and CFO, while Shi Ming and Guo Tianquan each hold 33%. The company's business scope includes fresh meat, seafood, fruits, vegetables, and cosmetics wholesale and retail, as well as performance brokerage and online cultural operations.

Both Shi Ming and Guo Tianquan recently signaled livestream preparations on social media, while Sun Dongxu had already tested livestream e-commerce in May. If the new venture pursues livestream commerce, it could replicate the competitive split previously seen with the Dongfang Zhenxuan-Yuhui Tongxing separation, intensifying concerns over talent drain and direct business competition for East Buy.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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