On July 21, New Oriental-S declined 3.17% in regular trading, trading at 38.46 HKD/share, with turnover of 28.46 million HKD. The decline was driven by growing market concerns over competition from former East Buy CEO Sun Dongxu, who partnered with former hosts Shi Ming and Guo Tianquan to establish Beautiful Tomorrow (Beijing) Technology Co., Ltd.

The new company, registered on July 10 with 1 million RMB in capital, operates in fresh meat, seafood, fruits, vegetables, and cosmetics wholesale and retail — a business scope that highly overlaps with East Buy. Sun Dongxu holds 34% equity and serves as legal representative. The company's Douyin account has already attracted over 330,000 followers since launching on July 13. New Oriental founder Yu Minhong responded that no non-compete agreements exist, expressing well-wishes while noting New Oriental has never been undermined by departing employees over its 30-year history.

The broader Education Services sector also traded weak, with ABLE DIGITAL down 25.03%, China East Education down 0.93%, and China Education Group flat.

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