The two central figures in the late-2023 controversy have both parted ways with Yu Minhong, leaving EAST BUY grappling with declining revenue and GMV.

After over two decades at NEW ORIENTAL-S, many have departed, with Dong Yuhui being the most prominent. Now, another key figure has joined the exodus. On November 6, former EAST BUY CEO Sun Dongxu officially resigned, as confirmed by NEW ORIENTAL founder Yu Minhong.

A top livestreamer and a pivotal strategist—both central to the late-2023 incident—have now completely severed ties with Yu. While Yu insists there was "no discord or estrangement," the reality is stark: Dong Yuhui’s independent venture, "Yu Hui Tong Xing," has eclipsed EAST BUY with 6 million more followers and consistent top rankings on Douyin’s sales charts.

Dong’s transparent supply chain and rural support initiatives have bolstered his reputation, while Sun’s departure after 18 years underscores EAST BUY’s struggles: a 30%+ drop in revenue and GMV, and new anchors failing to sustain traffic.

**An 18-Year Veteran Exits** Sun Dongxu spent 18 years at NEW ORIENTAL, rising from a teacher to regional president in six years. By 2016, he led Xi’an’s branch to become the nation’s third-largest, achieving 60% revenue growth. Post-"double reduction" policy, Sun became Yu’s right-hand man in launching EAST BUY, personally overseeing supply chain development and livestream operations.

In 2022, Sun’s push for 5–6 monthly self-operated products built EAST BUY’s initial self-run matrix. His 2023 paid membership system, aimed at private traffic via an in-house app, remains central to the company’s strategy.

Yu once credited Sun as "more resilient than me," appointing him NEW ORIENTAL-S’s youngest CEO in 2019. Yet, the architect behind EAST BUY’s rise to ¥2 billion GMV ultimately became someone Yu couldn’t retain.

**The Inevitable Split** The rift began during the 2023 controversy, leading to Sun’s demotion to an advisory role—effectively stripping his operational control. Despite Yu’s public reassurances and attempts to reintegrate Sun into livestreams, the departure was inevitable.

**EAST BUY’s Mounting Challenges** Sun’s exit has amplified EAST BUY’s operational woes. The day his resignation was announced, NEW ORIENTAL-S’s stock fell over 6%, wiping out HK$3 billion in market value.

Despite efforts to groom new anchors post-Dong’s exit, none have matched his performance. Peak GMV for new hosts barely reaches 20% of Dong’s heyday, and daily viewership has plummeted from millions to tens of thousands.

FY2025 results reveal a 32.7% revenue drop (¥6.5 billion to ¥4.4 billion) and a 39.2% GMV decline (¥14.3 billion to ¥8.7 billion). Though H2 saw a modest ¥62 million profit vs. H1’s ¥96.5 million loss, it pales against the ¥2 billion+ revenue gap.

**Dong Yuhui’s Ascendancy** Dong’s "Yu Hui Tong Xing" has thrived, with Q3 2025 GMV hitting ¥3.5 billion (+18% QoQ), dwarfing EAST BUY’s ¥1.2 billion. His self-operated "Yuhui’s Choice" series boasts a 42% repurchase rate—15 points higher than EAST BUY’s average.

His 34.1 million Douyin followers (6 million more than EAST BUY) and initiatives like transparent supply chains and public salary disclosures have burnished his reputation as an "industry benchmark."

**Conclusion** While Dong appears to be "winning," the livestream e-commerce race isn’t zero-sum. Yu Minhong, however, faces an uphill battle to stabilize EAST BUY amid talent drain and operational decline.