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On July 26, Yu Minhong, founder of New Oriental and CEO of Oriental Selection, said in a telephone conference call with shareholders of Oriental Selection that the current anchors of Oriental Selection are already relatively mature, and there will still be many activities arranged for the anchors to showcase their abilities and talents in the future.

Yu Minhong said that under the current situation, the traffic of Oriental Selection is very important. In the future, he will urge the company to find more outstanding anchors to promote the development of Oriental Selection. With subsequent gradual efforts, he will strive to maintain traffic growth. In addition, the control of negative issues of the company has been put on the agenda.

Yu Minhong said that he will continue to strengthen cooperation with Douyin in the future and will get better support from Douyin. In the future, Oriental Selection will also try to explore the online and offline integration model. He will work diligently to cultivate a better team and supply chain relationship and contribute limited strength to the development of Oriental Selection.

As a man in his 60s, Yu Minhong said that he hopes to make efforts and contributions to the development of New Oriental and Oriental Selection.

In Yu Minhong's view, Dong Yuhui is a rare asset of the company, but the independence of Yuhui Tongxing is inevitable. After Yuhui Tongxing was registered, the GMV of Dongfang Zhenxuan was increasing on the surface, but the stock price was unstable. Yu Minhong said that now it seems that the two companies do not interfere with each other and the middle and the platform support each other "is a naive idea." After Yuhui Tongxing was registered, the external environment seriously interfered, and there were also conflicts and stumblings within the company.

Yu Minhong said that he "tried desperately to please fans on both sides, but he didn't expect that not only was the bowl of water not balanced, but the fire burned his head instead." There were constant voices of "conspiracy", "stingy" and "abuse of employees" on the Internet. "I don't care about outside comments, but it has indeed had a major impact on the company's business development. It has affected the mentality of the Oriental Selection anchors, the mentality of the managers, and my mentality has been greatly affected and damaged. The company's state is unstable," so that "the company and I are in a dilemma, and my own strategic layout cannot be implemented."