Core Insights - The separation between Dong Yuhui and Dongfang Zhenxuan has been marked as a significant event in the live-streaming e-commerce industry, with both parties exploring different business models post-split [3][20][25] Company Performance - Dong Yuhui's company, Yuhui Hangxing, has surpassed 30 million followers, while Dongfang Zhenxuan lags behind with around 28 million followers [5] - In terms of live-streaming viewership, Yuhui Hangxing achieved an average of 15.73 million daily views over the past month, compared to Dongfang Zhenxuan's 3.84 million [5][6] - Despite a significant drop in viewership, Yuhui Hangxing still outperformed Dongfang Zhenxuan in sales figures [5][6] Challenges Faced - Yuhui Hangxing experienced a 45% year-on-year decline in average daily viewership in the first half of 2025, with a notable drop in follower growth and average viewing time [8][10] - Dongfang Zhenxuan reported a 9.3% decline in revenue to 2.187 billion yuan, transitioning from a profit of 160 million yuan to a net loss of 96.5 million yuan in its mid-year report [9][10] - Both companies are grappling with issues such as talent loss and the need for a stable supply chain, with Yuhui Hangxing heavily reliant on Dong Yuhui's personal brand [10][21] Strategic Directions - Yuhui Hangxing focuses on content creation and nurturing new hosts, while Dongfang Zhenxuan aims to build a self-sustaining supply chain and develop its own brand [12][20] - The two companies are no longer direct competitors but are pursuing distinct paths: Yuhui Hangxing as a content-driven entity and Dongfang Zhenxuan as a supply chain-focused business [12][20] - Dongfang Zhenxuan's strategy includes enhancing its membership model and expanding its product offerings, while Yuhui Hangxing is exploring new content avenues, such as cultural and tourism-focused programming [17][24] Market Implications - The separation has led to a reevaluation of their respective business models, with Dongfang Zhenxuan aiming for long-term brand building and Yuhui Hangxing seeking to stabilize its operations amid reliance on a single influencer [20][21] - The industry trend indicates a shift away from dependency on top influencers, as companies recognize the risks associated with having a single point of failure in their business models [24][25]

Core Viewpoint - The article discusses the one-year anniversary of the split between Dong Yuhui and Dongfang Zhenxuan, analyzing the current status and challenges faced by both companies in the live-streaming e-commerce industry [3][4][27]. Group 1: Company Performance Post-Split - After the split, Dong Yuhui's company, Yuhui Tongxing, has surpassed 30 million followers, while Dongfang Zhenxuan has around 28 million [7]. - In terms of live-streaming viewership, Yuhui Tongxing averaged 15.73 million daily views over a recent 30-day period, compared to Dongfang Zhenxuan's 3.84 million [7][8]. - Despite Yuhui Tongxing's decline in viewership by 45% year-on-year, it still outperformed Dongfang Zhenxuan in sales [9][10]. Group 2: Challenges Faced by Each Company - Yuhui Tongxing has not established a supply chain, relying heavily on Dong Yuhui's personal brand, which poses risks if viewership declines [9][12]. - Dongfang Zhenxuan reported a 9.3% decline in revenue to 2.187 billion, transitioning from a profit of 160 million to a loss of 96.5 million [10][11]. - Talent retention is a significant issue for both companies, with several key hosts leaving, raising concerns about their operational stability [11][12]. Group 3: Strategic Directions - Yuhui Tongxing focuses on content creation and personal branding, while Dongfang Zhenxuan aims to build a self-owned supply chain and brand [14][20]. - The two companies are not traditional competitors anymore, as they are pursuing different business models: Yuhui Tongxing as a content-driven entity and Dongfang Zhenxuan as a supply chain-focused company [14][24]. - The article suggests that both companies are attempting to solve their respective challenges, with Dongfang Zhenxuan needing to enhance brand recognition and Yuhui Tongxing needing to reduce reliance on Dong Yuhui [24][25]. Group 4: Market Implications - The split has led to a reevaluation of their business models, with Dongfang Zhenxuan focusing on long-term brand building and Yuhui Tongxing on immediate content-driven sales [26][27]. - The article highlights a broader industry trend where companies are moving away from dependency on single influencers, indicating a shift in the live-streaming e-commerce landscape [26][28].

Group 1: Company Listings - Greenme is progressing with its listing in Hong Kong and will comply with relevant laws and regulations for information disclosure [1] - Chao Hong Ji plans to issue H-shares and apply for listing on the Hong Kong Stock Exchange to enhance its global strategy and brand image [2] - Hubei Xiangjiang Electric Co., Ltd. has passed the listing hearing at the Hong Kong Stock Exchange, with Guotai Junan Securities (Hong Kong) as the sole sponsor [3] Group 2: Corporate Changes - Unilever China has undergone a leadership change, with Roland Polaroid Hutabarat replacing Zhong Zhaomin as the legal representative and chairman [7] - GAC Aion has appointed He Xianqing as the new chairman, succeeding Feng Xingya [11] Group 3: Product and Market Developments - Starbucks China will reduce prices on several non-coffee products by an average of about 5 yuan, aiming to enhance its non-coffee beverage market [8] - Oriental Selection has announced the production of its first self-operated sanitary napkin, set to launch on June 16 [10] Group 4: Financing and Investments - Zhongke Wenge has completed a new round of strategic financing, which will be used for the development and marketing of its self-developed decision intelligence operating system [19] - "Rennren Rental" has completed a financing round of several hundred million yuan, which will accelerate the integration of AI technology and digital economy in the circular rental sector [21]