Yu Minhong's Exit Strategy Adds Another Competitor to His Roster

Deep News08-04 08:41

On August 2, former CEO Sun Dongxu, along with ex-hosts Mingming and Tianquan from EAST BUY, launched their new account "Beautiful Tomorrow" with a debut livestream. Within 30 minutes of going live, the broadcast attracted over 100,000 concurrent viewers, topping the Douyin sales chart, with estimated single-day sales surpassing 10 million yuan.

Following the launch of Beautiful Tomorrow, three live-streaming rooms—Those Who Walk Together, EAST BUY, and Beautiful Tomorrow—were broadcasting simultaneously, with all core team members originating from the same corporate system. Yu Minhong's response was to dismiss excessive discussion and offer his blessings, noting earlier that New Oriental imposes no strict non-compete agreements except for a few sensitive positions.

The cost of this policy is a growing list of competitors. In July 2024, Dong Yuhui resigned, and EAST BUY transferred all equity in Those Who Walk Together to him for 76.5858 million yuan. Two years later, the script played out again.

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