Stock Track | EAST BUY Soars 5.78% Intraday as Competitive Concerns Ease After Former CEO's New Venture Sees Weak Debut

Stock Track08-03

Shares of EAST BUY surged 5.78% during Monday's trading session, as the market reacted positively to the underwhelming debut of a competing livestream venture launched by the company's former CEO.

The rally was triggered by the launch of "Beautiful Tomorrow," a new e-commerce livestream business founded by Sun Dongxu. While the channel initially attracted over 100,000 viewers and briefly topped Douyin's rankings, estimated sales reached only 2.5 to 5 million yuan. This performance is seen as negligible compared to EAST BUY's projected full-year revenue of 56 to 58 billion yuan, effectively easing earlier fears of significant competitive diversion that had previously caused a 7% sell-off in mid-July.

Further supporting the rebound is a positive profit alert issued by the company on July 23, which forecasts fiscal year net profit of 5.2 to 5.5 billion yuan, representing year-over-year growth exceeding 85 times. While Citi reiterated a "Buy" rating with a 33 HKD target, Goldman Sachs maintains a "Sell" rating citing elevated valuations.

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