Core Viewpoint - The departure of Sun Dongxu, former CEO of Dongfang Zhenxuan, marks a significant shift for the company, which is now entering an uncertain "post-wave" era amid declining performance and flow anxiety [5][9]. Group 1: Leadership Changes - Sun Dongxu has officially left Dongfang Zhenxuan, following a series of events that began with the "small essay" incident in December 2023, which led to his removal as CEO and subsequent transition to a senior advisor role [2][4][7]. - Yu Minhong, the founder of New Oriental and CEO of Dongfang Zhenxuan, expressed support for Sun's decision to leave, emphasizing their good communication and lack of conflict [2][4]. Group 2: Company Performance - Dongfang Zhenxuan's total revenue from continuing operations for the fiscal year 2025 was 4.4 billion yuan, a decrease of 32.7% compared to the previous fiscal year [9]. - The company's total GMV (Gross Merchandise Volume) for the fiscal year 2025 was 8.7 billion yuan, down 39.2% from 14.3 billion yuan in the previous year [9]. Group 3: Strategic Shifts - The departure of key figures like Sun Dongxu and Dong Yuhui has raised concerns about the company's ability to maintain its unique appeal in knowledge-based live streaming, which has been a significant driver of its success [8][12]. - Dongfang Zhenxuan is focusing on building its self-operated product system and supply chain to differentiate itself from other e-commerce platforms, moving away from reliance on individual personalities [11][12]. Group 4: Future Challenges - The company faces challenges in user acquisition and maintaining its flow base, as it transitions to a model that does not depend on individual stars [12]. - The need for a robust system that can sustain the company without relying on key individuals is highlighted as a critical challenge for the future [12].

每经记者｜李宇彤 每经编辑｜余婷婷 11月6日，新东方创始人、东方甄选行政总裁俞敏洪在其社交平台发布的一则说明称，东方甄选前CEO（首席执行官）孙东旭已 正式离职。 至此，2023年底那场席卷直播间的"小作文"事件中，两位处于风暴眼的核心人物——董宇辉与孙东旭均已离开东方甄选。 俞敏洪在说明中表示："近期，东旭因为个人原因提出不再继续工作。我鼓励他坚持下去，相信公司会越来越好，并希望他未来 适当的时候回到管理岗位。但他经过了认真思考后，觉得还是想离开。最终，我同意他离开，不再参与公司工作。"但他同时也 强调，"我们俩之间保持着很好的沟通，没有任何龃龉和隔阂，请朋友们放心。" 图片来源：俞敏洪抖音号 俞敏洪以"个人原因"为共事十余年的搭档画上句号，措辞温和却难掩商业世界的凛冽。从2023年年底被免去CEO职务到转任高 级顾问，再到如今确认离开，孙东旭的动向一直都牵动着市场神经。 作为东方甄选曾经的关键操盘手，孙东旭的退场虽然保持了"体面"，但显然不是一次简单的功成身退，更将这家明星公司推入 了充满未知的"后浪"时代。面对业绩客观下滑与流量焦虑，东方甄选仍有待解的难题。 "小作文"风波终章：孙东旭终究还是离开了 ...