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Well-known anchor Dong Yuhui responded to his relationship with Yu Minhong during the live broadcast.

On August 14, in the live broadcast room of Yuhui Xingxing, some netizens suggested not to mention New Oriental founder Yu Minhong. In response, Dong Yuhui asked: "Why can't we mention it?" He said that he has a good relationship with Yu Minhong and sees that everyone cares a lot. The reason why other things cannot be mentioned is because they have indeed signed a contract and it is not convenient to mention them.

"There are also some media friends who sometimes write things that may create a tense relationship to help their dissemination, but to be honest, there is really no problem between us."

On the evening of July 25, Oriental Selection (01797.HK) announced on the Hong Kong Stock Exchange that Dong Yuhui had resigned. On the same day, Dong Yuhui (buyer), Beijing New Oriental Xuncheng Network Technology Co., Ltd. (seller) and Yuhui Tongxing (Beijing) Technology Co., Ltd. (target company) entered into a sales agreement, pursuant to which the seller agreed to sell and the buyer agreed to acquire 100% of the equity of the target company for RMB 76.5855 million.

Yu Minhong, founder of New Oriental and CEO of Oriental Selection, later admitted on social media that he would "give" Hui Xingxing to Dong Yuhui.

It is worth noting that the media previously reported that Dong Yuhui's total pre-tax income from Oriental Selection consists of six parts, including salary (salary + performance), equity, executive gifts, profits from Huitongxing, guaranteed income, and the acquisition payment of Huitongxing Company paid by New Oriental to Dong Yuhui. Since the explosion in June 2022, Dong Yuhui's total pre-tax income from Oriental Selection has been about 600 million yuan.

Oriental Selection did not respond to this.

On August 7, according to the National Enterprise Credit Information Publicity System, Yuhui Tongxing (Beijing) Technology Co., Ltd. completed its industrial and commercial changes, with only one shareholder, Dong Yuhui, who is a natural person shareholder.

Tianyancha App shows that Yuhui Tongxing (Beijing) Technology Co., Ltd. has undergone industrial and commercial changes. The original wholly-owned shareholder Beijing New Oriental Xuncheng Network Technology Co., Ltd. has withdrawn, and the company type has changed from a limited liability company (sole proprietorship by a legal person) to a limited liability company (sole proprietorship by a natural person). Yu Minhong has also withdrawn from the position of supervisor.

Yuhui Xingxing (Beijing) Technology Co., Ltd. was established in December 2023. The legal representative, executive director and manager is Dong Yuhui, with a registered capital of 10 million yuan.

As of press time, Oriental Selection (01797.HK) was trading at HK$10.56, up 3.53%. Currently, Yuhuixingxing has 22.554 million followers on Douyin, while Oriental Selection has 29.679 million followers.