Core Insights - The separation between Dong Yuhui and Dongfang Zhenxuan has been marked as a significant event in the live-streaming e-commerce industry, with both parties exploring different business models post-split [3][20][25] Company Performance - Dong Yuhui's company, Yuhui Hangxing, has surpassed 30 million followers, while Dongfang Zhenxuan lags behind with around 28 million followers [5] - In terms of live-streaming viewership, Yuhui Hangxing achieved an average of 15.73 million daily views over the past month, compared to Dongfang Zhenxuan's 3.84 million [5][6] - Despite a significant drop in viewership, Yuhui Hangxing still outperformed Dongfang Zhenxuan in sales figures [5][6] Challenges Faced - Yuhui Hangxing experienced a 45% year-on-year decline in average daily viewership in the first half of 2025, with a notable drop in follower growth and average viewing time [8][10] - Dongfang Zhenxuan reported a 9.3% decline in revenue to 2.187 billion yuan, transitioning from a profit of 160 million yuan to a net loss of 96.5 million yuan in its mid-year report [9][10] - Both companies are grappling with issues such as talent loss and the need for a stable supply chain, with Yuhui Hangxing heavily reliant on Dong Yuhui's personal brand [10][21] Strategic Directions - Yuhui Hangxing focuses on content creation and nurturing new hosts, while Dongfang Zhenxuan aims to build a self-sustaining supply chain and develop its own brand [12][20] - The two companies are no longer direct competitors but are pursuing distinct paths: Yuhui Hangxing as a content-driven entity and Dongfang Zhenxuan as a supply chain-focused business [12][20] - Dongfang Zhenxuan's strategy includes enhancing its membership model and expanding its product offerings, while Yuhui Hangxing is exploring new content avenues, such as cultural and tourism-focused programming [17][24] Market Implications - The separation has led to a reevaluation of their respective business models, with Dongfang Zhenxuan aiming for long-term brand building and Yuhui Hangxing seeking to stabilize its operations amid reliance on a single influencer [20][21] - The industry trend indicates a shift away from dependency on top influencers, as companies recognize the risks associated with having a single point of failure in their business models [24][25]