Xin Lang Ke Ji·2025-08-20 03:39Core Viewpoint - New Oriental Group's CEO, Zhou Chenggang, and founder, Yu Minhong, have publicly denied rumors regarding an investigation into alleged misconduct, asserting that these claims are false and have initiated legal actions against the spread of such rumors [3][4][5]. Group 1: Rumors and Market Reaction - Market rumors suggested that Zhou Chenggang was under investigation for allegedly misappropriating company interests through related-party transactions, leading to a significant drop in the stock price of Oriental Selection [3]. - As of August 19, the stock price of Oriental Selection (1797.HK) closed at HKD 34.32, reflecting a decline of 20.89%, after previously reaching a two-year high of HKD 53.7, which represented an increase of over 23.5% [3]. Group 2: Official Responses - Zhou Chenggang released a video on social media stating that the rumors were baseless and emphasized that the company had already issued a denial [3]. - Oriental Selection's official Weibo account announced that they have initiated legal proceedings against the individuals spreading the rumors, committing to pursue the matter thoroughly [3]. - New Oriental Group issued a statement categorically denying the allegations against Zhou Chenggang, labeling the claims as pure fabrication [4].