Core Insights - The live-streaming e-commerce industry is experiencing significant changes, with top influencers like Xinba stepping back while new figures like Churui Xue are emerging [2][3][4] - Xinba's departure from the live-streaming scene is attributed to health issues, specifically severe lung problems, which have been exacerbated by his long-term commitment to the industry [4][6] - XinXuan, the company behind Xinba, is undergoing substantial layoffs and salary reductions, with a reported 30%-40% of staff being let go and salary cuts ranging from 10%-20% [2][7] Company Developments - XinXuan has initiated a restructuring process, including layoffs across various departments such as customer service and supply chain, in response to declining business performance [7][8] - The company is transitioning to a management structure led by professional managers, aiming to stabilize operations under Churui Xue's leadership [6][8] - XinXuan's business model focuses on supply chain management and influencer incubation, but the profitability of live-streaming has been a significant revenue driver [8][11] Industry Trends - The live-streaming e-commerce sector is witnessing a shift, with many top influencers reducing their presence, leaving only a few, like Li Jiaqi, actively engaging with audiences [3][4] - Xinba's exit reflects broader industry challenges, as companies adapt to changing market dynamics and consumer preferences [3][14] - The competitive landscape is evolving, with companies needing to balance influencer-driven sales with sustainable business practices to thrive in the long term [13][14]