Stock Track | EAST BUY Plummets 5.80% Intraday as CEO Subsidiary Exit, Court Ruling, and Analyst Downgrade Weigh on Shares

Stock Track10:50

Shares of EAST BUY (01797) plummeted 5.80% during intraday trading on Thursday, as multiple negative developments converged to pressure the stock.

The decline follows news that CEO Sun Jin stepped down as legal representative and director of Guangzhou Dayu Book & Audio Company, a subsidiary linked to parent New Oriental. Additionally, a court ruling found EAST BUY's operating entity guilty of commercial defamation against baijiu brand Jiangxiaobai, ordering compensation of 300,000 yuan. Compounding the negative sentiment, Goldman Sachs maintained a "Sell" rating on the stock, setting a target price of 13.6 HKD—approximately 35% below current levels—citing elevated valuation relative to growth prospects and peers.

The company is scheduled to release audited full-year results later this month, with guided net profit of 5.2 to 5.5 billion yuan for fiscal year 2026, but investor attention remains fixed on the immediate headwinds.

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