On December 18, Dongfang Selection released a live broadcast preview poster, and Yu Minhong and Dong Yuhui will broadcast live at 8 p.m. on December 18. The poster shows that Dong Yuhui's identity will change from "anchor with goods" to "senior partner of Oriental Selection". 
On the evening of the 17th, Oriental Selection announced on the Hong Kong Stock Exchange that the board of directors had resolved on December 16 to remove Sun Dongxu as chief executive officer and remove him as executive director of the company, effective immediately.
According to the announcement, in view of the recent turmoil, Sun Dongxu's job change reflects his recent mismanagement of the company's brand and reputation; The Board believes that Sun Dongxu's resignation from these positions will better safeguard the interests of the Company's shareholders and allow more experienced directors to take over the day-to-day management of the Company. The Board of Directors has appointed Yu Minhong as the new Chief Executive Officer of the Company with immediate effect. Yu Minhong will continue to serve as the Chairman of the Board and will be re-designated as an Executive Director of the Company.
A reporter from Beiqing Daily saw that on December 18, the share price of Dongfang Selection opened more than 10% higher, with a maximum increase of nearly 18%, and as of press time, the stock price reached 30HK$20, still up 15%, with a turnover of HK$1.5 billion.
Pan Helin, co-director and researcher of the Digital Economy and Financial Innovation Research Center of Zhejiang University International Business School, believes that "Yu Minhong is right to leave Dong Yuhui and kick out the CEO". He said that by benchmarking the current head anchor IP, he knows what level Dong Yuhui's current valuation can reach. And one thing that needs to be distinguished is that Dong Yuhui has content bonuses, that is, his users are highly sticky, not ordinary live Internet celebrities, and consumers are just running for cheap live broadcast Internet celebrities. In other words, Dong Yuhui's live broadcast not only has traffic, but also user stickiness, and the value of sticky user traffic is immeasurable. This is the reason why investors were optimistic about Dongfang Selection before, and it is also the reason why the stock price was the best after the internal contradictions broke out. I think that Dongfang Selection should have formed a positive feedback interaction with Dong Yuhui's traffic attributes, rather than restricting each other. “
Text: Beijing Youth Daily reporter Wen Jing.
Edited by Field.