Core Insights - The permanent retirement of top Kuaishou streamer Xinba has led to significant upheaval within his billion-dollar live-streaming empire, raising questions about the future of his company and the live-streaming industry as a whole [1][3][27] Group 1: Xinba's Retirement and Company Dynamics - Xinba announced his permanent retirement from live streaming due to severe lung issues, claiming his lung function is comparable to that of a 95-year-old [1] - Despite his health claims, Xinba continues to exert control over the company, as evidenced by his participation in his wife's live stream shortly after his retirement announcement [3][6] - The transition of management and control within the company appears complex, with Xinba still holding a 95% stake in the parent company, indicating potential behind-the-scenes influence [13][29] Group 2: External Challenges and Investigations - Xinba was reportedly detained for over 10 hours by authorities in Hangzhou regarding issues related to product safety and compensation disputes, although the company denied these claims [6][16] - The company is facing scrutiny from tax authorities, with a notice issued to Guangzhou Xinxuan Network Information Technology Co., Ltd., indicating potential regulatory challenges ahead [6][16] Group 3: Business Operations and Financial Performance - Following Xinba's retirement, his wife, Churui Xue, took over the main account and achieved impressive sales figures, with over 10 billion yuan in sales within four hours during her first live stream [9] - The company has experienced significant changes, including a shift in its operational strategy and potential layoffs, with reports suggesting a possible 50% to 80% reduction in staff [15][16] Group 4: Product Quality and Brand Trust Issues - The company is grappling with product quality concerns, particularly regarding its self-branded products like "Cotton Password" sanitary napkins, which have been linked to health risks due to excessive levels of harmful substances [18][19][21] - The ongoing investigation into the safety of these products poses a significant threat to the brand's reputation and could lead to severe financial repercussions if confirmed [19][22] Group 5: Industry Trends and Future Outlook - The live-streaming e-commerce industry is transitioning from a focus on individual influencers to a more structured model where brands and products take precedence, indicating a shift in consumer behavior [27][28] - The company may need to adapt its business model to reduce reliance on individual personalities and enhance its supply chain and operational capabilities to remain competitive in a maturing market [29][32]

Core Viewpoint - The transition of leadership from Xinba to Churui Xue in the live-streaming e-commerce sector is significant, with initial performance indicating strong viewer engagement and sales potential [4][5]. Group 1: Leadership Transition - Churui Xue officially took over live-streaming duties from Xinba on August 29, showcasing over 200 product links across various categories [4]. - Xinba has transferred his personal account with 100 million followers to the company as an asset, appointing Churui Xue to fully manage Xinxuan Group [5]. - Xinba announced his departure from the live-streaming industry due to health issues, stating that Churui Xue will manage the company moving forward [4][5]. Group 2: Initial Performance Metrics - Churui Xue's first live-stream attracted over 24 million viewers, gained 200,000 new followers, and received over 100 million likes within two hours [4]. - The sales performance during the live-stream was notable, with the "Tianlvdan" product selling over 700,000 units and generating sales exceeding 500 million yuan [4]. - Overall sales during Churui Xue's live-stream surpassed 2 billion yuan [4]. Group 3: Ongoing Influence of Xinba - Despite announcing his exit, Xinba remained actively involved during Churui Xue's first live-stream, providing recommendations and feedback, indicating his continued influence [4][5]. - Xinba's personal brand and impact on the audience remain crucial for the company's ongoing success, as he is a key figure in the Xinxuan brand [5]. Group 4: Challenges Ahead - The ability of Churui Xue to maintain brand influence and manage internal and external relationships will be critical for the company's future [5]. - The absence of top-performing apprentice E Dan during the live-stream raises questions about the team dynamics and potential sales impact [6].

北京商报讯（记者 何倩）8月29日，在辛巴官宣退出直播行业后，初瑞雪在辛巴账号首次直播"818"粉 丝专场促销节。为了拉动直播间热度，初瑞雪拿出了辛选大爆款1380元天气丹套盒作为首个挂链产品， 并增加了天率丹套盒等作为赠品。数分钟内，天气丹套盒订单量超过10万单。期间，在辛巴语音连线的 助力下，该产品卖出超过70万单，销售额超过5亿元。 "今天是我最后一次助力初瑞雪直播，之后主账号实名认证也会变更，我也不再是辛选的员工，包括股 权也会更改。"辛巴在连线中向员工和粉丝道别。据辛巴徒弟赵梦澈介绍，开播半小时内，在线观看直 播人数已超过240万人。 据了解，在8月18日，辛巴在一年一度的"818"粉丝专场促销节上宣布，由于健康原因，从今天起自己将 正式离开直播行业，不再参与直播工作。此后，公司将由妻子初瑞雪来管理。 辛选相关负责人表示，关于管理权移交，辛巴已将个人1亿粉丝账号作为公司资产移交，并正式任命初 瑞雪女士全面接管辛选集团。初瑞雪作为联合创始人，长期主导供应链与品牌运营，在初瑞雪女士领导 下，公司将继续稳健发展。 8月22日，辛巴主账号名称正式更改为"初瑞雪（辛巴 818）"，头像替换为辛巴妻子初瑞雪的单 ...