Core Points - The departure of Sun Dongxu, former CEO of Dongfang Zhenxuan, marks a significant shift for the company, as both he and Dong Yuhui, key figures in the "small essay" incident, have left the organization [1][3][4] - The company is entering a "post-wave" era filled with uncertainties, facing challenges such as declining performance and flow anxiety [3][8] Company Developments - Sun Dongxu's resignation was officially announced by Yu Minhong, who stated that Sun left for personal reasons after careful consideration [1][5] - The "small essay" incident in December 2023, which involved a controversy over a live broadcast script, significantly impacted Sun's reputation and led to his eventual departure [4][5] - Following the incident, Sun was removed from his CEO position and transitioned to a senior advisor role before ultimately leaving the company [5][8] Financial Performance - For the fiscal year 2025, Dongfang Zhenxuan reported total revenue of 4.4 billion yuan, a decrease of 32.7% from the previous year's 6.5 billion yuan [8][10] - The company's total GMV (Gross Merchandise Volume) for the same period was 8.7 billion yuan, down 39.2% from 14.3 billion yuan in the previous fiscal year [8][10] Strategic Shifts - The company is focusing on building a self-operated product system and supply chain to differentiate itself from other e-commerce platforms, moving away from reliance on individual personalities [11][12] - The self-operated products and the Dongfang Zhenxuan app have become key growth areas, with self-operated products accounting for 43.8% of GMV in the fiscal year 2025 [10][12] Market Outlook - Experts suggest that the departure of key figures like Sun Dongxu may not significantly impact the company, as it aims to establish a robust system independent of individual contributions [11][12] - The ongoing challenge for Dongfang Zhenxuan lies in enhancing its user reach and addressing its flow foundation, which remains a critical area for improvement [11][12]

Core Viewpoint - The departure of Sun Dongxu, the former CEO of Dongfang Zhenxuan, marks a significant moment for the company, following the aftermath of the "small essay" incident that had previously put him in the spotlight [1][3][15] Group 1: Departure Context - Rumors of Sun Dongxu's potential departure surfaced in August, but were officially denied by the company at that time [2] - His departure is seen as a conclusion to the ongoing repercussions of the "small essay" incident from two years ago [3][6] - The stock market reaction has been mixed, with some expressing regret over his departure while others fear a decline in stock prices [3] Group 2: Background of Sun Dongxu - Sun Dongxu had a long tenure of 18 years within the New Oriental system, starting as a teacher and eventually becoming the CEO of Dongfang Zhenxuan [4] - His annual compensation, including stock options, was reported to be 16.39 million yuan, and he had previously cashed out approximately 2.17 billion HKD in just two days [7] Group 3: Company Performance and Challenges - Dongfang Zhenxuan's stock price has significantly decreased from a peak market value of 740 billion HKD in January 2023 to 22.44 HKD per share, representing a 69% decline [3] - The company has faced a substantial drop in revenue, with a reported 32.7% year-on-year decline in fiscal year 2025, and a net profit drop of 99.67% [11][12] - Key operational metrics show a decline in GMV from 143 billion to 87 billion, a decrease of approximately 39% [11] Group 4: Talent Departure and Market Position - The company is experiencing a talent exodus, with significant figures like Dong Yuhui and now Sun Dongxu leaving, which may impact its market position [9][11] - The online audience for Dongfang Zhenxuan's live streams has diminished, with current viewer numbers around 3,700 compared to over 10,000 two years ago [13] - The company is struggling with its transformation into an e-commerce model, facing challenges in supply chain management and membership growth [12][15]

Group 1 - Sun Dongxu has left Dongfang Zhenxuan, confirmed by Yu Minhong, citing personal reasons for his departure [4] - Sun Dongxu sold 1.93 million shares over two days, cashing out 2 billion HKD [8] - Yu Minhong expressed hope for Sun Dongxu to return to a management position in the future [4] Group 2 - Apple encourages iPhone 13 and 14 users to upgrade to the new iPhone 17, highlighting the advantages of the new model [5] - The iPhone Air 2 may feature an additional camera lens, while Apple has avoided discussing sales issues related to the Air series [8] Group 3 - CCTV exposed a case of counterfeit live streaming involving actress Wen Zhengrong, where her likeness was used in multiple streams [6]

Core Viewpoint - The departure of Sun Dongxu, a non-executive director of Dongfang Zhenxuan, has been confirmed by Yu Minhong, the founder and chairman of New Oriental Education Technology Group [1] Group 1 - Sun Dongxu has left his specific role at Dongfang Zhenxuan, as stated by the company [1]

来源丨凤凰网财经《公司研究院》 今年 8 月份就有 " 孙东旭或将离职 " 的传闻出现，彼时东方甄选官方发布声明辟谣，称 " 在休假中，并没有离职 " ，俞敏洪在分析师 会议上也辟谣，称孙东旭的休假是他批准的，休假时间较长并不意味着离职。 现在，靴子终于落地， " 小作文 " 事件的余波，在两年后做了个了结。 对于这一消息，东方甄选股吧里评论两极，有的表达遗憾， " 历经从零到一的艰苦创业，现在离开太可惜了，对甄选来说最后一个靴子落 地，放开了奔跑吧 " ，也有的对未来股价表达担忧， " 完了，没前途了，这一走，股价开启瀑布杀 " 。 截至 11 月 6 日，东方甄选股价 21.44 港元 / 股，总市值 226 亿港元。从今年 7 月开始，东方甄选股价虽有所回暖，但相较于 2023 年 1 月巅峰市值 740 亿元，缩水 69% ，市值蒸发 500 多亿。 01 在新东方系待了18年，曾两天套现超2亿港元 孙东旭与东方甄选的关系可追溯至多年前。 这位 85 后，毕业于南开大学，主修计算机科学与技术， 2007 年本科毕业后加入 新东方集团 。从天津新东方学校国外考试部教师起 步，逐步晋升为合肥新东方学校助理 ...

Core Viewpoint - The recent resignation of Sun Dongxu as CEO of Dongfang Zhenxuan has raised concerns, but the company assures that communication remains strong and the leadership will continue to strive for growth and quality products [1][3]. Group 1: Leadership Changes - Sun Dongxu has resigned from his position as CEO and Executive Director of Dongfang Zhenxuan, effective December 16, 2023, with Yu Minhong taking over as CEO [3]. - Sun Dongxu's total compensation for the period from June 1, 2023, to December 16, 2023, amounted to 33.603 million RMB, which includes a salary and allowances of 4.944 million RMB, equity settlement of 28.621 million RMB, and retirement benefits of 0.038 million RMB [3][4]. Group 2: Company Background - Dongfang Zhenxuan is registered under Beijing New Oriental Xun Cheng Network Technology Co., Ltd., which was established in 2005 with a registered capital of 1.2235 billion RMB [5]. - The company operates in the software and information technology services industry and has a workforce of approximately 66 employees [5]. Group 3: Market Reaction - Following the announcement of Sun Dongxu's resignation, Dongfang Zhenxuan's stock price experienced a decline, closing at 21.44 HKD, with a market capitalization of approximately 22.6 billion HKD [5].

Core Viewpoint - The recent leadership change at Oriental Selection, with founder Yu Minhong taking over as CEO after the departure of Sun Dongxu, highlights the company's commitment to maintaining strong communication and leadership continuity during transitions [1][2]. Group 1: Leadership Changes - Yu Minhong announced that Sun Dongxu, co-founder of Oriental Selection, has decided to leave the company for personal reasons, despite encouragement to stay [1]. - Following the "small essay" incident, the board of directors at Oriental Selection officially appointed Yu Minhong as CEO, relieving Sun Dongxu of his duties as executive director and CEO, effective immediately [2]. Group 2: Company Communication - Yu Minhong emphasized the importance of maintaining good communication with all members of Oriental Selection and expressed confidence in the company's future growth [1].

记者丨 叶映橙 见习记者林健民 编辑丨 谭婷 | EN FE 少印异蚁: | | --- | | 再次感谢广大朋友的理解和信任! 12 | | @前敏洪 | | 感谢东旭为东方飘选的发展做出的本出荷 | | 献! 展开 | | 2025-11-6 14:55 IP属地:北京 | | Ｑ 相关搜索 · 孙东旭离开东方甄选 | 此前，2023年12月，在东方甄选"吉林行"预热视频里，董宇辉念了一段关于吉林的文案。东方 甄选的小编称此"小作文"文案部分出自团队之手，董宇辉的"丈母娘们"（董宇辉粉丝）不满小 编"背刺"董宇辉还抢功，由此引发董宇辉粉丝和东方甄选一场"骂战"。俞敏洪12月12日回 应"小作文"事件，称网友想要发表观点没有问题，但是希望大家能够用理性的方式和态度表达 自己的观点。 上述"小作文"事件发酵后，2023年12月16日，东方甄选发布公告称，经东方甄选董事会决 定：董事长俞敏洪兼任东方甄选CEO职务，免去孙东旭的东方甄选执行董事、CEO职务，即日 生效。 视频 丨 许婷婷 11月6日，俞敏洪在社交媒体平台上确认，东方甄选前CEO孙东旭离职。 俞敏洪表示， 近期孙东旭因为个人原因，提出不再继续工作 ...

Core Insights - The departure of Sun Dongxu from Dongfang Zhenxuan is confirmed by Yu Minhong, who expresses hope for his return in the future, indicating internal changes within the company [3] - Sun Dongxu played a crucial role in the company's success in live e-commerce and faced significant challenges during the "Little Essay" controversy, which has impacted the company's stock performance [4] - Dongfang Zhenxuan has shifted its business model from online education to self-operated products and live streaming, with significant changes in revenue and operational focus [5] Group 1: Company Changes - Sun Dongxu has left his position due to personal reasons, despite encouragement from Yu Minhong to stay [3] - The company has transitioned from being known as New Oriental Online Technology Holdings to Dongfang Zhenxuan Holdings, focusing solely on self-operated products and live streaming [3] - The internal conflicts and controversies have led to significant leadership changes, including the resignation of Sun Dongxu as CEO [4] Group 2: Financial Performance - In the fiscal year 2025, Dongfang Zhenxuan's net revenue from its core business decreased by 32.7% to 4.4 billion RMB, while the gross merchandise volume (GMV) dropped by 39.2% to 8.7 billion RMB [5] - The company reported a net profit of 0.062 billion RMB, recovering from losses in the first half of the fiscal year [5] - The total revenue cost decreased by 38.2% to 3 billion RMB, with gross profit declining by 17% to 1.4 billion RMB [5] Group 3: Market Position and Challenges - Dongfang Zhenxuan is focusing on self-operated products, multi-platform strategies, and building a paid membership system, but faces challenges in establishing a strong organizational structure [6] - The company is still primarily focused on agricultural products, which are high-frequency but low-margin, and needs to improve its supply chain and membership experience [6] - Comparatively, the sales performance of Dongfang Zhenxuan is lagging behind its competitor Hui Tongxing, indicating a need for better brand management and operational strategies [5][6]

Core Points - Yu Minhong announced the departure of Sun Dongxu, co-founder of Dongfang Zhenxuan, citing personal reasons for his decision to leave the company [1] - Yu emphasized the positive relationship between him and Sun, assuring that there were no conflicts or misunderstandings [1] - Sun Dongxu has a long history with New Oriental, having held various positions since 2007, including CEO of New Oriental Online, which later became Dongfang Zhenxuan [1] Summary by Sections Departure Announcement - Sun Dongxu has officially left his position at Dongfang Zhenxuan, with Yu Minhong supporting his decision and expressing hope for his return in the future [1] - The announcement follows earlier speculation about Sun's potential departure, which gained significant attention online [1] Background of Sun Dongxu - Sun Dongxu graduated from Nankai University in 2007 and has been with New Oriental since then, progressing through various roles [1] - He served as the CEO of New Oriental Online from 2019 until the rebranding to Dongfang Zhenxuan in 2023 [1] Leadership Changes - Following the "Little Essay Incident" related to Dong Yuhui, Yu Minhong took over as CEO of Dongfang Zhenxuan, relieving Sun Dongxu of his executive roles [2] - Yu Minhong mentioned that Sun's return to the live streaming space was permitted, highlighting Sun's capabilities in product selection [2]