In response to the recent collective departure of four hosts, Yu Minhong first stated during a live stream that the hosts were on vacation, but later acknowledged that the company's management approach had been flawed. He admitted to an overemphasis on institutional control at the expense of team morale and expressed regret for the oversight. He simultaneously emphasized that the departure of key hosts would not impact EAST BUY's daily operations, product supply chain, or user service system, confirming that the platform would continue its live streaming business as usual.
In January of this year, during the first earnings call after Sun Jin's appointment, Yu Minhong described Sun as an expert problem-solver. He highlighted that Sun had previously driven the annual revenue of New Oriental's South China region from less than 10 billion yuan to nearly 40 billion yuan. Yu stated that Sun was chosen to lead EAST BUY due to his potential to drive business growth and a strong alignment with the company's culture and values.
Since the beginning of the year, EAST BUY's stock price has risen from HK$17.92 to HK$27.48 at the last trading session, representing an increase of 53.3%.
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