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].

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]

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 from Dongfang Zhenxuan marks a significant shift in the company's management, following the earlier exit of Dong Yuhui, and reflects ongoing challenges in the live e-commerce sector [3][5]. Group 1: Company Background and Changes - Dongfang Zhenxuan, formerly known as New Oriental Online Technology Holdings, transitioned to focus solely on self-operated products and live streaming, moving away from online education [3][4]. - Sun Dongxu played a crucial role in the company's success during its explosive growth in 2022, emphasizing that Dongfang Zhenxuan is a technology and cultural dissemination company rather than just a live streaming entity [4][5]. Group 2: Financial Performance - In the fiscal year 2025, Dongfang Zhenxuan's net revenue from continuing operations decreased by 32.7% year-on-year to 4.4 billion RMB, while the company achieved a net profit of 0.062 billion RMB after a loss in the first half of the fiscal year [5][6]. - The company's Gross Merchandise Volume (GMV) fell by 39.2% year-on-year to 8.7 billion RMB, leading to a reduction in total revenue costs by 38.2% to 3 billion RMB [6]. Group 3: Strategic Focus and Challenges - Dongfang Zhenxuan is now concentrating on self-operated products, multi-platform strategies, and building a paid membership system, but faces significant challenges in establishing an effective team of hosts and brand operation models [6][7]. - The company continues to rely heavily on agricultural products, which are characterized by low margins and high wastage, and needs to enhance its supply chain and membership system to compete effectively [6][7].

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 ...

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 Insights - Kuaishou's top female streamer, E-Dan (real name Yang Runxin), has recently made headlines by directing traffic to her new account and offering iPhone 17 Pro giveaways, claiming to have experienced "inhuman suffering" over the past four months [1][2] Group 1: E-Dan's Recent Activities - E-Dan has registered two new companies, "Hangzhou Runxing Entertainment Co., Ltd." and "Hangzhou Runxin Entertainment Co., Ltd.," with a 99% stake, focusing on live-streaming e-commerce and supply chain management, indicating potential independence from her current management [2][4] - During the Double 11 shopping festival, E-Dan's first live-streaming session achieved over 10 billion yuan in sales within three hours, with an estimated total sales of 30 billion yuan, showcasing her strong market presence [4][9] Group 2: Background and Achievements - E-Dan, born in 1997, began her e-commerce career during university and joined XinXuan Group in 2019, quickly rising to prominence with significant sales figures, including over 80 billion yuan in 2020 [5][6] - By 2023, E-Dan had generated nearly 300 billion yuan in GMV, with 171 billion yuan attributed to her efforts, solidifying her status as the top female streamer on Kuaishou [5][6] Group 3: Industry Context and Future Prospects - The live-streaming e-commerce industry is becoming increasingly competitive, with top streamers needing to create new topics to maintain audience engagement. E-Dan's strategy of using a secondary account to generate buzz for Double 11 is a notable marketing tactic [8][14] - If E-Dan chooses to operate independently, she will face challenges such as maintaining product quality without XinXuan's supply chain support and navigating a changing regulatory landscape in the live-streaming industry [16][17]

Core Points - The former CEO of Dongfang Zhenxuan, Sun Dongxu, has confirmed his departure from the company due to personal reasons, as stated by Yu Minhong on November 6 [1][2] - Yu Minhong emphasized that there are no conflicts between him and Sun, and he expressed hope for Sun's future return to a management position [2] - Sun Dongxu has been a long-time member of New Oriental, having held various positions before becoming CEO of Dongfang Zhenxuan [7][8] Summary by Sections Departure Confirmation - Yu Minhong announced Sun Dongxu's departure, stating it was due to personal reasons and that they maintain good communication [1][2] - Sun's contributions to the development of Dongfang Zhenxuan were highly acknowledged by Yu Minhong [2] Background of Sun Dongxu - Sun Dongxu, born in 1986, joined New Oriental in 2007 and has held multiple roles within the organization [7] - He was appointed CEO of Dongfang Zhenxuan in 2018 and successfully led the company through challenging periods [8] Controversies and Previous Rumors - Sun faced public scrutiny in late 2023 due to mishandling a dispute with a prominent host, which led to his removal as CEO [9] - Despite being removed from the CEO position, Sun continued to be involved with the New Oriental system and appeared in live broadcasts [10][12]

Core Viewpoint - The departure of Sun Dongxu from Dongfang Zhenxuan is confirmed by Yu Minhong, who expresses hope for Sun's future return to management, emphasizing their good communication and lack of conflict [1]. Group 1: Background of Sun Dongxu - Sun Dongxu has been with New Oriental since 2007, holding various positions including CEO of New Oriental Online, which later rebranded to Dongfang Zhenxuan [3]. - His career progression includes roles such as principal and regional president, culminating in his position as vice president of New Oriental Group [3]. Group 2: Financial Aspects - In the fiscal year ending May 31, 2023, Sun's total compensation was 16.391 million yuan, an increase from 10.49 million yuan the previous year [4]. - Sun Dongxu realized significant cash gains through stock sales, totaling over 200 million HKD within two days in February 2023 [4]. Group 3: Management Changes - Following a controversy related to Dong Yuhui, the board decided to remove Sun from his roles as executive director and CEO of Dongfang Zhenxuan, with Yu Minhong taking over as CEO [4]. - Despite his removal from executive roles, Sun continued to work as a consultant, contributing to product selection and team development [5]. Group 4: Current Status - As of now, Yu Minhong remains the CEO of Dongfang Zhenxuan, and Sun Dongxu has not returned to an executive position, although he has made appearances in live broadcasts [5].