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]

本文转载自21世纪经济报道 值班编辑 | 宝珠 视觉 | 顾芗 近日，知名带货主播辛巴宣布因为健康问题退出直播行业。随后，有报道称辛巴因售卖致癌卫生巾一事 被有关部门带走调查，面临多项指控，目前滞留在香港。 据每日经济新闻报道，针对上述消息，辛选集团相关人士回应称：不属实。 此前，8月18日晚，快手主播辛巴在直播中表示，"跟大家做个告别，从今天开始辛巴再无能力承载直播 这份工作，今天正式宣布退出直播行业。" 当时，辛选集团相关负责人向记者确认，辛巴目前身体不能承受任何压力，肺功能已达极限。其1亿粉 丝的账号作为公司资产已移交，并正式任命联合创始人初瑞雪（辛巴妻子）全面接管辛选集团。 辛巴创办的辛选集团旗下"棉密码"卫生巾曾因被检出超高含量硫脲引发质疑。 据新黄河报道，有多位辛巴直播间的"铁粉"称购买并使用"棉密码"卫生巾后，确诊癌症。 21财经·南财快讯记者梳理发现，今年以来，辛巴团队多次因带货产品质量问题引发舆论关注。3月15 日，"辛巴带货牛排被指质量问题"登上微博热搜。有消费者投诉称，其推广的"仓野农夫牛排"疑似为合 成肉，部分产品含未标识食品添加剂，且维权困难。 辛巴也曾因带货翻车受到质疑。2020年 ...

Core Viewpoint - The well-known livestreamer Xinba has announced his retirement from the livestreaming industry due to health issues, amidst allegations related to the sale of potentially harmful sanitary napkins, leading to investigations and multiple charges against him [1][2]. Group 1: Xinba's Retirement and Health Issues - Xinba, who has 100 million followers, stated that he can no longer handle the pressures of livestreaming and officially announced his retirement [1]. - Xinba's health condition has reportedly deteriorated, with his lung function reaching its limit, prompting the transfer of his account as a company asset to his wife, Churui Xue, who will take over Xinxuan Group [1]. Group 2: Product Quality Controversies - Xinba's brand "Cotton Password" faced scrutiny after high levels of thiourea were detected in its sanitary napkins, raising health concerns [1]. - Several consumers reported being diagnosed with cancer after using the "Cotton Password" sanitary napkins, leading to increased public attention on product quality issues associated with Xinba's livestreamed products [1]. - In March 2023, Xinba's promotion of "Cangye Farmer Beef" was criticized for quality issues, with complaints about synthetic meat and unlisted food additives [2]. Group 3: Previous Controversies and Business Background - Xinba has faced multiple controversies in the past, including a 2020 incident where a product he promoted was found to primarily contain sugar water, resulting in a public apology and a compensation commitment of 61.98 million yuan [2]. - Xinba, born in 1990, began his livestreaming career in 2016 and founded the "Cotton Password" brand in 2017, achieving significant sales success during events like Double Eleven [2]. - As of September 2024, Xinba's personal livestreaming account on Kuaishou was permanently banned due to ongoing controversies, although the ban was lifted shortly after [2].

Core Viewpoint - The potential return of the influencer "Xiao Yang Ge" and "Dong Bei Yu Jie" to the live-streaming e-commerce scene is increasingly unlikely due to intensified regulatory scrutiny and significant loss of followers [6][9][25]. Group 1: Regulatory Challenges - The Chinese government has publicly named "Xiao Yang Ge" and "Dong Bei Yu Jie" in a recent press conference, emphasizing the need to maintain order in online transactions and to crack down on irregularities in the live-streaming e-commerce sector [6][8]. - Both influencers faced substantial fines last year for misleading advertising and selling counterfeit products, with "Xiao Yang Ge" fined nearly 700 million yuan and "Dong Bei Yu Jie" fined approximately 6.72 million yuan [6][8]. - Their accounts on Douyin have been restricted, with "Xiao Yang Ge" facing a complete suspension of related accounts and "Dong Bei Yu Jie" being banned entirely [8]. Group 2: Attempts at Comeback - "Xiao Yang Ge" has made multiple attempts to return to the spotlight, including appearing in a short video in May, but has not yet resumed live-streaming [11][16]. - "Dong Bei Yu Jie" has also tried to re-enter the scene through various social media accounts and public appearances, but these efforts have been met with skepticism and have often resulted in account suspensions [19][21]. - Both influencers have engaged in public charity events to maintain visibility, but their core business remains largely inactive [21]. Group 3: Impact of Follower Loss - "Xiao Yang Ge" has lost approximately 20 million followers, dropping from 120 million to 104 million, while "Dong Bei Yu Jie" has seen a decline from 24.5 million to 17.7 million followers [9][26]. - The loss of followers is critical as their business models heavily rely on personal branding; without their presence, their live-streaming ventures face potential collapse [25][26]. Group 4: Industry Context - The live-streaming e-commerce industry in China is transitioning from rapid growth to a more mature phase, with a projected online retail sales figure of 15.5 trillion yuan in 2024, reflecting a 7.2% year-on-year growth [35][36]. - The era of tolerance for problematic influencers is diminishing, making it increasingly difficult for those with past controversies to regain public trust and return to prominence [37][39]. - The case of "Xiao Yang Ge" and "Dong Bei Yu Jie" illustrates the challenges faced by influencers in a stricter regulatory environment, where any misstep could lead to permanent career setbacks [39][40].

Core Viewpoint - The transition of the live streaming account from Xin Ba to his wife, Chu Ruixue, marks a significant shift in the management of Xin Xuan Group, following Xin Ba's health issues and his announcement to step back from the industry [1][3]. Group 1: Account Transition and Management - Chu Ruixue took over the core account "Xin Youzhi, Xin Ba, 818" on August 29, following Xin Ba's announcement of serious lung disease and his exit from the live streaming industry [1]. - The account was renamed to "Chu Ruixue (Xin Ba 818)" and all previous short videos were deleted, with the account still certified under Xin Xuan Group's founder [1]. - The account had a fan base of over 99.99 million and received 340 million likes prior to the transition [1]. Group 2: Initial Live Streaming Performance - The first live stream under Chu Ruixue's management attracted significant attention, with a pre-stream reservation of 8.14 million viewers [1]. - The live stream reached 1 million viewers within 2 minutes and 2 million viewers within 11 minutes of starting [1][4]. - The first product sold over 600,000 units shortly after the stream began [4]. Group 3: Xin Ba's Involvement and Future Plans - Despite announcing his retirement, Xin Ba made multiple appearances during the live stream to guide Chu Ruixue and discuss products, indicating a lingering involvement in the business [4]. - Xin Ba clarified that he had not formally retired before and plans to completely step away from the industry and relinquish his shareholder status in related companies after a break [3][4]. - Xin Ba's previous claims of retiring were described as intentions rather than formal announcements, and he emphasized that this would be his last involvement in live streaming [3]. Group 4: Company Structure and Ownership - Xin Ba controls 39 companies, with 29 currently active, including a 95% ownership stake in Guangzhou Xin Xuan Investment Co., Ltd [6]. - Chu Ruixue is associated with 18 companies, of which only 2 remain active, while the others have been dissolved, and she currently does not hold shares in Xin Xuan Group or its subsidiaries [6].

Core Viewpoint - The likelihood of the return of prominent livestreamers "Xiao Yang Ge" and "Dong Bei Yu Jie" is diminishing due to increasing regulatory scrutiny and past violations, which have led to significant penalties and loss of followers [5][6][31]. Group 1: Regulatory Environment - The Chinese market regulatory authority has publicly named "Xiao Yang Ge" and "Dong Bei Yu Jie" in a recent press conference, emphasizing the need to maintain order in online transactions and to combat irregularities in the livestreaming e-commerce sector [5][6]. - Both livestreamers faced substantial fines last year for violations, with "Xiao Yang Ge" fined nearly 700 million yuan for false advertising and "Dong Bei Yu Jie" penalized for selling counterfeit products [6][31]. - Their accounts on Douyin have been restricted, with "Xiao Yang Ge" losing 20 million followers, now totaling 104 million, and "Dong Bei Yu Jie" dropping from 24.5 million to 17.7 million followers [9][29]. Group 2: Attempts at Return - "Xiao Yang Ge" has made multiple attempts to return to the livestreaming scene, including appearing in a video in May, but has not yet returned to live selling [10][17]. - "Dong Bei Yu Jie" has also tried to re-enter the market through various means, including using a small account for livestreaming, but these efforts have been met with skepticism and have not been successful [18][21]. - Both have engaged in public activities, such as charity events, to maintain visibility, but their primary livestreaming activities remain largely inactive [24][39]. Group 3: Industry Challenges - The livestreaming e-commerce industry is transitioning from rapid growth to a more mature phase, with a projected 2024 online retail sales figure of 15.5 trillion yuan, reflecting a 7.2% year-on-year growth [41]. - The era of tolerance for problematic livestreamers is fading, making it increasingly difficult for those with past controversies to regain public trust and return to prominence [43][48]. - The challenges faced by "Xiao Yang Ge" and "Dong Bei Yu Jie" highlight the precarious nature of their business models, which heavily rely on personal branding; their absence could lead to the collapse of their respective ventures [27][28].

Group 1 - The possibility of the return of "Xiao Yang Ge" is diminishing due to increased regulatory scrutiny and past violations [4][21][36] - "San Zhi Yang" and "Dong Bei Yu Jie" have faced significant penalties, including fines of nearly 70 million yuan for false advertising and 6.71 million yuan for selling counterfeit products [4][21] - Both "Xiao Yang Ge" and "Dong Bei Yu Jie" have seen a substantial loss in followers, with "Xiao Yang Ge" losing 20 million followers, dropping to 104 million, and "Dong Bei Yu Jie" falling from 24.5 million to 17.7 million [6][21] Group 2 - The live-streaming e-commerce industry is transitioning from rapid growth to a more mature phase, with a projected 2024 online retail sales of 15.5 trillion yuan, a 7.2% increase year-on-year [32] - The survival of influencers with past misconduct is becoming increasingly difficult, as the industry no longer tolerates past mistakes [33][36] - The case of "Xiao Yang Ge" and "Dong Bei Yu Jie" reflects a broader trend where major influencers face severe consequences for regulatory violations, making a comeback challenging [36][38]

Group 1 - The core point of the news is that prominent streamer Xinba has announced his withdrawal from the live streaming industry, leading to significant layoffs at his company, Xinxuan Group, with initial reports suggesting a 50% layoff rate in the first wave and up to 80% in the second wave [1][3] - Employees at Xinxuan Group confirmed that layoffs are occurring, but the reported percentages may be exaggerated, with one department seeing about 10 employees laid off [3] - Xinba's departure is attributed to health issues, specifically severe lung function problems, and is framed as a balance between personal health and the long-term development of the company [7] Group 2 - Following Xinba's exit, his account on Kuaishou has been transferred to his wife, Chushi Ruixue, who is now managing Xinxuan Group [4] - The Kuaishou account has been rebranded and updated with new content featuring Chushi Ruixue, marking her first live stream since taking over [4] - Xinba has previously made multiple statements about retiring from the internet, indicating a pattern of withdrawal from the public eye [7] Group 3 - Xinba's brand "Mian Mima" sanitary napkins faced scrutiny after reports of carcinogenic substances being detected, although the brand later stated that all products comply with national standards [10]

Core Viewpoint - Kuaishou is facing significant legal and operational challenges, including a substantial copyright infringement ruling and internal corruption issues, which may impact its reputation and business operations [2][8]. Group 1: Legal Issues - Kuaishou has been ordered by two courts to pay a total of 89.1 million yuan for copyright infringement related to the unauthorized distribution of content from "De Yun Dou Xiao She" and "Chang Xiang Si" [2]. - The Guangdong and Chongqing High People's Courts found that Kuaishou had engaged in numerous infringement activities and mandated the platform to implement effective measures to prevent the spread of infringing videos [2][3]. - Despite receiving 2,179 "take-down notices" over three years, Kuaishou has failed to adequately address the issue, with over 2,000 infringing videos remaining on the platform [3]. Group 2: Corruption Scandal - A corruption case involving Kuaishou's former e-commerce service manager has emerged, with allegations of embezzling over 140 million yuan in subsidies and laundering the money through virtual currency platforms [8]. - The case has led to the conviction of seven individuals, including the former manager, who received prison sentences ranging from three to fourteen and a half years [8]. Group 3: Business Performance - Kuaishou reported a 17.6% year-on-year increase in e-commerce GMV, reaching 358.9 billion yuan in the second quarter, with an average of 134 million monthly buyers [9]. - The platform's "pan-shelf" e-commerce GMV accounted for over 32% of total e-commerce GMV, with significant growth during the 618 shopping festival [9]. - Despite strong performance, the platform faces challenges with high-profile influencers like Xin Yuzhi (Xin Ba), who has announced multiple withdrawals from the live-streaming industry, raising concerns about the platform's credibility [9][10][12].

Core Viewpoint - The news highlights the turmoil surrounding XinXuan Group and its founder XinBa, including significant layoffs and potential withdrawal from the live-streaming platform, raising concerns about the company's future and its impact on the industry [1][4]. Group 1: Company Developments - XinXuan Group is reportedly planning to conduct large-scale layoffs, with rumors suggesting a 50% reduction in workforce, although the company has not confirmed this [1]. - XinBa announced his intention to "retire from the internet" due to health issues, marking the fifth time since 2020 he has made such claims, which raises questions about the sincerity of his statements [1]. - On August 22, XinBa changed his account name and cleared all content from his Kuaishou account, signaling a potential departure from the platform [4]. Group 2: Industry Context - The Chinese government, through the State Administration for Market Regulation, is intensifying efforts to regulate the live-streaming e-commerce sector, which may affect companies like XinXuan Group [4]. - Kuaishou is facing challenges such as slowing user growth and declining GMV, making XinBa's presence crucial for the platform's stability [4]. - XinBa's previous sales achievements, such as generating 4 billion in sales during the 2025 Kuaishou 618 event, underscore his significant influence in the live-streaming industry [4].