EAST BUY (01797) experienced a sharp decline in early trading, with its stock plummeting 6.44% during the morning session. The significant drop comes in the wake of Chairman Yu Minhong's confirmation of Sun Dongxu's departure from the company, ending months of speculation and contradicting earlier denials.

The confirmation of Sun's exit, which was made by Yu Minhong through his personal social media on November 6, appears to have rattled investors. This news follows a turbulent period for EAST BUY, which had previously denied rumors of Sun's departure in August, claiming he was merely on leave. The company's about-face on this matter has likely contributed to the market's negative reaction.

Adding to the context, Sun Dongxu was removed from his positions as executive director and CEO in December 2023, amidst a "mini-essay" controversy. At that time, Yu Minhong assumed the role of CEO in addition to his chairman duties. The official confirmation of Sun's complete departure from the company marks the end of an era for EAST BUY and signals potential challenges in leadership transition and company strategy, factors that investors are clearly weighing heavily in their trading decisions.