辛巴可以隐退，但辛选却并非是高枕无忧

Core Viewpoint - The article discusses the potential permanent retirement of the influencer Xinba from the live streaming industry, citing health reasons and the transfer of his account to his wife, Churui Xue, while raising questions about the future of his company, XinXuan Group, and its management dynamics [1][3][5]. Group 1: Xinba's Retirement Announcement - Xinba announced his fifth retirement from live streaming on August 18, stating health issues as the reason and transferring his 100 million follower account to his wife, Churui Xue, who will take over XinXuan Group [1][3]. - The account has been renamed to "Churui Xue (Xinba 818)" following the announcement, indicating a shift in management [1]. - This retirement comes during a challenging period for XinXuan Group, particularly amid controversies surrounding its sanitary napkin brand, "Mian Mima," which was found to contain high levels of a carcinogenic substance [5]. Group 2: Management and Control Concerns - There are doubts about Churui Xue's actual control over XinXuan Group, as she does not hold shares in the core company, leading to speculation that Xinba remains the true power behind the company [3][5]. - The transition to a "couple-run" model raises concerns about the company's governance and whether it can operate independently of Xinba's influence [3][5]. Group 3: Industry Context and Implications - Xinba's departure could significantly impact XinXuan Group, as he is considered the soul of the company, and maintaining the momentum of its streamers will be a critical challenge for Churui Xue [8]. - Despite the emergence of another popular streamer, Dandan, as a potential successor, the lack of a formal handover to her raises questions about internal dynamics and potential conflicts [10]. - The live streaming e-commerce landscape is evolving, with a shift away from reliance on top influencers, as evidenced by a decline in Xinba's contribution to Kuaishou's GMV from nearly 25% in 2019 to less than 5% in 2023 [12].