EAST BUY (01797.HK) saw its stock price plummet 5.12% in pre-market trading on Monday, as investors reacted to the company's recently released fiscal year 2025 financial report. The report, which covers the period from June 1, 2024, to May 31, 2025, reveals the challenges faced by the company in the wake of key streamer departures and strategic shifts.

The financial results paint a picture of a company in transition, struggling to maintain its growth trajectory. EAST BUY reported a 32.7% year-over-year decrease in net revenue from continuing operations, which fell to 4.392 billion yuan. The company's annual profit also took a significant hit, dropping to just 6.19 million yuan from 249 million yuan in the previous year. This stark decline in financial performance likely contributed to investor concerns, leading to the stock's sharp decrease.

The report highlights the impact of EAST BUY's strategic pivot from a "streamer-driven" to a "product-driven" model. This shift, accelerated by the high-profile departure of star streamer Dong Yuhui in July 2024, has clearly affected the company's short-term performance. The Douyin channel, which accounts for the majority of EAST BUY's Gross Merchandise Volume (GMV), saw paid orders nearly halve from 180 million to 91.6 million. While the company is intensifying its efforts on self-operated products and alternative sales channels, including its own App and WeChat mini-program, these initiatives have yet to fully offset the loss of streamer-driven sales. As EAST BUY continues to navigate this transition, investors appear to be recalibrating their expectations, leading to the observed stock price volatility.