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On July 25, a report from Oriental Selection Holdings Co., Ltd. once again made Dong Yuhui and Yu Minhong a hot topic.

To put it simply, Dong Yuhui has officially resigned from Oriental Selection.

It means that the two of them will go their separate ways and have no further business connection.

But this matter is different from our resignation process. The complexity lies in the importance of Dong Yuhui to Oriental Selection.

Not to mention the value of personal IP, the main thing is that there is a live broadcast room called "Walking with Hui".

That is, Oriental Selection was another subsidiary project built by Dong Yuhui, whose main business is selling goods and cultural tourism.

Moreover, although Yuhui Tongxing was established not long ago, its benefits and scale cannot be underestimated. Once Dong Yuhui leaves, what will happen to this company established based on his personal IP?

In response to this, Yu Minhong’s approach was that since it was destined to be impossible to retain the employee, he might as well be decent.

One word: Give!

In a previous interview, Yu Minhong admitted that he had established Huitongxing, and if Dong wanted to go solo in the future, the company would be transferred directly to him.

Brother Yu really did not break his promise. When Dong Yuhui resigned, Oriental Selection first rewarded all the profits made by Hui to Dong personally.

Then the company was directly transferred to Huixing, and Dong himself took over as CEO.

Since it is a transfer, we also have to consider the company's valuation, and the valuation depends on the company's earnings.

Since the premiere of "Along with You" in January, the total sales have reached 4.282 billion, with a net profit of 140 million (the profit was 280 million, but Yu Minhong promised to give half of the profit to Dong Yuhui, which had already been divided before this, so the profit was only written as 140 million in the announcement).

Even if we only take the remaining 140 million net profit after the division,The valuation of Yuhui Tongxing should be at least over 1 billion.。

Yu Minhong transferred 100% of his equity to Huitongxing for just over 76 million yuan, which is not an exaggeration to say that it was a "cheap sale".

However, this is not the end. Yu Minhong also stated on his personal public account that I don’t need you to pay the 70 million yuan for Dong’s acquisition of the company.

To put it bluntly, Dong didn't spend a penny, but he created a big company right out of nowhere.

He also spoke frankly at the end, saying that he missed the time when he fought side by side with Dong, the days when they drank big bowls of wine and ate big mouthfuls of meat, and left his sincere blessings for the future with Hui.

After seeing this scene, netizens couldn't help but praise him, saying, "Oh my god, Brother Yu is really open-minded and has a good vision."

Dong Yuhui also replied immediately.

I wrote a poem with the rhythm of Ping Ping Ze Ze, feeling lucky to have met Dongfang Zhenxuan and Brother Yu.

In short, the two of them appreciated each other, and they drank to each other during the meal.

It may seem like a happy family ending, but there are two things in it that make people feel something is not right.

First of all, the shareholders of Oriental Selection were unhappy.

You two are a good couple and have a lot of affection and loyalty, but what should we do with our money?

Last night, New Oriental's US stocks fell 5%, and today's Hong Kong stocks opened down another 6%.Oriental Selection plummeted by 25%, a 360° turn and a big dive.When the stock investors woke up from a nap, they were completely stunned.

"No matter who is right or wrong, can you return the money to me first?"

"What's the point of giving you the money I save?"

"Using a listed company to do personal favors."

Another thing is Dong Yuhui’s attitude.

Although the popularity of Oriental Selection is largely related to Dong Yuhui personally, Oriental Selection has not treated Dong badly over the years, and even gave him aFarewell gift package，It is far more than what Yu Minhong should giveBe。

Logically speaking, we cultured people are all about being humble and polite. It would be a bit embarrassing to receive so much favor and help from others, right?

Besides, Oriental Selection is not in a good situation now and is at the center of controversy. Even if Dong doesn't say anything, at least he can help Oriental Selection calm the public's emotions or something.

But Dong’s posts and actions were a bit thin, just “very grateful” and “best wishes”.

Could it be that these two unequal replies really confirmed what the outside world had speculated -

Yu and Dong, have actually had conflicts for a long time?

In order to figure out this matter, we contacted relevant insiders. As for what exactly happened, let's listen to the following.

First of all, what everyone is most concerned about is why Yuhui Tongxing only sold for more than 70 million?

This is because after talking to people in the know, we realizedThe valuations of companies with Huixing are all highly tied to Dong Yuhui.。

Simply put, this company is worth so much money only if Dong Yuhui is here and wants to do it. If Dong Yuhui is gone, or he doesn't want to go on air, then Yuhuixingxing is just an empty shell.

Just like Yu Minhong himself said:“There is no point in us keeping this company.”。

That's why he gave such an estimate.

Secondly, why do you have to be independent if you want to travel with Hui?

Judging from Yu Minhong's shareholder exchange meeting and various events of Oriental Selection in recent years, the reasons behind this are quite complicated. In short, one of them is Yu Minhong himself.I really can’t stand the “cyberbullying” anymore.

During Dong's tenure, there have been many incidents, including the "Dongfang Zhenxuan Operation Essay Incident" which was directly related to Dong himself, as well as various cases of failures by his teachers. As a result, netizens viewed Dongfang Zhenxuan as an evil capital force that had taken advantage of Dong Yuhui.

Whenever something big happens, Yu Minhong comes out to respond. Once he responds, he is guaranteed to be scolded. Calls like "stingy" and "abusing employees" are just mild criticisms.

Even Yu Minhong himself said, "The abuse I have endured online during this period is more than I would have endured in hundreds of lifetimes combined," and he even said that he wanted to stay away from business.

In addition, there were always various criticisms about him and Dong in the outside world, so he decided to go his own way. After all, there was no interest in either of them now, so these people on the Internet would have nothing to say, right?

Even Yu reiterated the need to sever ties at the shareholder exchange meeting this afternoon:

"I personally will not participate in any capital operation, investment or development of Huixing at any time now or in the future."

On the other hand, as a live broadcaster, Dong Yuhui has publicly revealed more than once,My own resistance to internet celebrities and product promotion.

"I am very resistant to selling things. To be honest, I still don't enjoy this job."

People familiar with the matter also confirmed this with the bad reviewer.What Dong Yuhui has always wanted to do isMCN, want to create a personal IP.

Yu Minhong expressed his views at the shareholders meeting this afternoon.I want to work in the platform and supply chain field in the future, and I want to be stable., there will no longer be a certain anchor establishing an independent platform in Oriental Selection.

The two sides have different goals, as Yu Minhong himself said:“(Stripping and walking with Hui)This outcome is indeed inevitable.”

Another thing is why Dong Yuhui’s response after going solo always seems a bit indifferent, as if he doesn’t dare to say too much.

The fact isYes, I really don’t dare to say more.

Because every time Dong Yuhui publishes a topic related to Oriental Selection, it will cause quite a stir, at the very least triggering public opinion, and at worst affecting the stock price.

So I’m afraid that if I say too much, I’ll make more mistakes. Whether I say good or bad things, it’s easy for people to find fault with me.

Now that it is a big deal to go solo, you have to be careful with what you say and do. Just express your gratitude.

As for whether the two people have any grudges or hidden conflicts, I still retain my previous opinion -

These are all made up by netizens.

But the good relationship between Yu and Dong does not mean that other employees of Dongfang Zhenxuan and Yuhui Tongxing can get along like brothers.

According to an insider, in order to provide Dong with the best office space, "all the employees moved to other places to make room for him." "They shared the same floor with a bunch of other people, and there wasn't even a decent public toilet."

Moreover, at the company's publicity and promotion level, there was once an incident in which the team behind the scenes and Dong personally "stole the credit".

Therefore, a more reasonable explanation may be that Yu Minhong paid too much attention to Dong Yuhui, which squeezed out other employees in the company, eventually leading to internal divisions and laying the groundwork for many public opinion events.

Just like what the bad reviewer said at the beginning, in a purely business context, don't make the relationship between the two people act like an idol drama.Anyone can survive without the other, it all depends on one's ability.

For Dong Yuhui, after completely leaving Oriental Selection, how he plans to deal with his identity, whether to continue live broadcasting in front of the stage or stay away from the "non-positive word" of "Internet celebrity" is a problem.

As for Yu Minhong, how should he appease shareholders and how should he continue to operate after losing his biggest IP?

Everyone has a brand new future. But in short, no matter what, this Internet mess has finally come to an end.

Written by: The Big Four & Shirtless Punk

edit: Jiangjiang & Mangshan soldering iron tip

Art editor: Xuanxuan

Image, source：

Yu Minhong's shareholder exchange meeting, Oriental Selection Announcement, Official Account: Lao Yu's Chat