At the inaugural supplier exchange summit for EAST BUY, Yu Minhong, founder of New Oriental and CEO of EAST BUY, shared his perspective on long-termism. He emphasized that true long-termism is not about stubbornly adhering to a single path regardless of circumstances, but about staying committed to one’s core values and applying one’s talents and passion to the services one can provide.

Yu Minhong revealed that his fundamental value has always been to continuously offer meaningful services to people. Since graduating from Peking University in 1985 and staying on as a teacher until resigning in 1991 to establish New Oriental, he has never left the field of education. After 2021, he began contemplating what else he could contribute beyond education.

He stated that from the very beginning, he set a clear direction for EAST BUY: it is not a livestreaming company, nor is it an MCN agency. The goal is not simply to gather excellent New Oriental teachers to sell products, but to ultimately deliver high-quality goods and services to the Chinese people. Therefore, Yu Minhong positioned EAST BUY as a product company from the start, building its business model—both internally and externally—around the core of product excellence.