This article was originally published by wumiancaijing
Author: Haitang Ye
Editor: Chen Jian
Design: Lan Sheng
On December 18, the Oriental Selection Weibo account released a live broadcast preview, with Dong Yu in the picture Hui has it New identity - Senior Partner of Oriental Selection.
On the same day, New Oriental Education Technology (Group) Co., Ltd. issued a notice appointing Dong Yuhui as the cultural assistant to the chairman of New Oriental Education Technology Group and concurrently as the vice president of New Oriental Culture and Tourism Group.
"Congratulations to Yuhui, we will go through thick and thin!" Yu Minhong forwarded the appointment notice, and the farce that lasted for more than ten days seemed to have ended successfully.
▲ Dong Yuhui was promoted to a senior executive.
Dong Yuhui, a migrant worker, was promoted from an ordinary employee to the VP vice president level, with an annual salary of tens of millions and options, heading towards a bright future;
Sun Dongxu, who threw his cell phone during the live broadcast, was relieved of his position as CEO, but still stayed at Oriental Selection and was responsible for affairs management;
Yu Minhong, who failed to apologize, turned the tide and gained a market value of 6 billion in the capital market;
and his colleagues also gained the attention of more than 2 million fans and a "significant increase" in order volume and transaction volume.
A sudden "little composition" incident, like a tornado, quickly caused violent turmoil in the company and the market, and swept away all the chicken feathers. The chaos returned to normal, and it seemed that everyone was happy.
Dong Yuhui was promoted
"The mother-in-law and the laborer won! Congratulations to Dong Yuhui!" On an ordinary Monday morning, two hot searches were mentioned, and the social beasts who moved bricks rushed to tell Dong Yuhui about his new identity.
Two weeks ago, they were voluntarily acting as "mother-in-law" to "ask for justice" for Dong Yuhui, who had "suffered unfair treatment".
html On December 6, the official Douyin account of Oriental Selection released a warm-up video for a trip to Jilin, and pinned the answer comment "Who wrote the promotional copy?", saying that most of the classic short compositions were created by the copywriting team. This is completely different from Yu Minhong's statement that "all of it was done by Dong Yuhui", which triggered doubts and dissatisfaction among Dong Yuhui's fans, "Why should we deny Dong Yuhui's contribution to Eastern Selection?"
The signs of "de-Dong Yuhui" further aroused conflicts.
In February this year, Oriental selected multiple Douyin delivery matrix accounts to break away from labels such as "Yuhui"; in September, thousands of delivery accounts with Dong Yuhui's avatar and name were revealed; in November, Dong Yuhui was rejected at the 30th anniversary celebration of New Oriental After entering the venue, Yu Minhong explained this as a misunderstanding and the reason was that he forgot to give the ticket.
Who is Dong Yuhui? According to people in the live streaming industry, Dong Yuhui alone accounts for 50% of the total sales of Oriental Selection. It is not an exaggeration to call him the soul who brought Oriental Selection back to life.
A "fan circle-style" verbal and written attack began. What fans did not expect was that under the coercion of capital and the market, this war of words became vigorous and attracted national attention.
html On the 114th, Yu Minhong and Sun Dongxu successively apologized for the "little composition" incident; on the 16th, Oriental Selection issued a personnel appointment and dismissal notice. Yu Minhong concurrently served as CEO of Oriental Selection, removing Sun Dongxu from his position as CEO.
On December 17, Yu Minhong appeared at the 4th China Vocational Education Development Forum and said: "With the development of modern society, bosses must be willing to work for employees. If the direction is the same, it becomes a partnership."
In the evening of the same day, Oriental The selection official announced that Dong Yuhui has become a senior partner.
"Whatever Dong Yuhui wants to do in the future, as long as I think it is reasonable and reasonable, I will definitely mobilize resources to help him achieve it." During the live broadcast with Dong Yuhui on the 16th, Yu Minhong said that Dong Yuhui will definitely have the right to speak in the future.
▲html On the evening of December 16, Dong Yuhui appeared in Yu Minhong’s live broadcast room to respond to various controversies.
Generally speaking, the identity of senior partners is not empty. They usually represent the shareholders of the company and enjoy the rights and interests of participating in the company's profit distribution and equity changes, and can also participate in company decision-making.
Another market news pointed out that Dong Yuhui has obtained 0.5% of the equity of Oriental Selection. Based on the current market value, the value is as high as 160 million Hong Kong dollars.
This means that after the crisis, Dong Yuhui not only received a promotion and salary increase, but also owned equity and options. His status in Oriental Selection has been significantly improved, and he is no longer just an ordinary employee.
According to Luo Yonghao’s live broadcast on December 17, he received information from two reliable sources, one of which came from the platform and the other from an executive of Oriental Selection. The other party said that Dong Yuhui had received sky-high treatment, although the details The numbers are unknown, but they are definitely huge.
Luo Yonghao said that he believed that Dong Yuhui should receive a very generous reward. This is a staged victory for those who support Dong Yuhui and is a very good thing.
Fans and market value are back.
Oriental Selection never imagined that an intellectual dispute over copywriting copyright would spiral out of control.
was the first to bear the brunt of the withdrawal of more than one million fans.
Data shows that as of 2 p.m. on the 16th, the number of Oriental Selection Douyin fans dropped from 31.086 million on the 12th to 28.557 million, and html lost more than 2.5 million fans in 14 days..
Then the stock price continued to plummet.
During the week (5 trading days) when the "Little Composition" incident continued to ferment, Oriental Selection Hong Kong stocks fell to HK$26.25 from the closing price of HK$33.65 on December 8, a cumulative decline of 21.99% in a week, and the market value fell from HK$34.15 billion to HK$34.15 billion. 26.64 billion Hong Kong dollars, a drop of 7.5 billion Hong Kong dollars.
fans were measured in millions, the stock price plummeted, and the market value evaporated. Such events are unimaginable in traditional companies.
Fortunately, the recovery efforts are still effective.
html On the evening of December 16, Yu Minhong and Dong Yuhui combined for a live broadcast. After the live broadcast, the number of fans of Oriental Selection began to rebound, from 28.393 million on the evening of the 16th to 28.739 million on the evening of the 17th. In just one day, the number of fans of Oriental Selection has increased by more than 100,000. 300000.
As of 16:00 on December 18, the number of fans of the Oriental Selection account has rebounded to 28.951 million.
On the other hand, on December 17, Oriental Selection and its matrix account Oriental Selection’s self-operated products and Oriental Selection’s books were re-broadcast, with more than 100,000 people online, temporarily ranking first in the overall list of products.
was affected by this at the same time. After the Hong Kong stock market opened on December 18, Oriental Selection's share price once soared 17.71%, and finally closed at HK$32 per share, an increase of 21.9%, with a total market value of HK$32.48 billion, higher than the previous trading day (12 15) increased by nearly HK$6 billion.
▲ Oriental Selection’s stock price performance in recent days, pictures from Baidu.
The matter seems to have been resolved perfectly, and Yu Minhong and Dong Yuhui did not ruin the public's goodwill.
Dongfang Selection CFO Yin Qiang declared in the circle of friends that the story of New Oriental will always have a happy ending: "The dark night is long enough to make people feel that the light of dawn is so bright, so that everyone does not worry."
Of course, more importantly Yes, it is well known in the market that Oriental Selection has successfully retained Dong Yuhui, who everyone wants, and has successfully continued to bind and continue to tell the story of live streaming and selling products.
According to a senior New Oriental source, Dong Yuhui’s income consists of annual salary plus options. It is expected that the first batch of options will be released in April next year. According to the general option contract regulations, once Dong Yuhui leaves early before April next year, all options will be reset to zero. .
At present, the anchor team other than Dong Yuhui trained by Oriental Selection has not really grown up to take the lead.
In the live broadcast matrix of Oriental Selection, anchor YOYO has 1.389 million fans, Mingming 1.274 million, Dundun 2.141 million, Qiqi 1.074 million, Jesse 237,000, and Tianquan 450,000, which is obviously not as good as Dong Yuhui.
The incremental traffic effect of the head anchor is very obvious. According to data from Haitong Securities, in May this year, Dong Yuhui’s average daily live broadcast viewership reached 10.13 million, and his average GMV was 20.46 million. However, the second-tier anchor Dundun’s average daily live broadcast viewership was only 2.89 million, and his average GMV was 6.73 million.
Dong Yuhui has not left, there is still a chance for Oriental Selection.
Colleagues who "picked up the missing"
Gaotu Jiapin were also very happy.
is a live broadcast room for education and training companies. On the evening of December 11, 600,000 "mother-in-laws" poured in, and the amount of goods sold in the live broadcast room increased by more than ten times.
As the "little composition" controversy further fermented, the popularity of Gaotu Jiapin's live broadcast room continued to skyrocket: on the evening of the 13th, the number of people online at the same time exceeded 30,000; on the morning of the 14th, the number of people online at the same time exceeded 20,000.
"Mothers-in-law" brought tremendous wealth.
Gray Dolphin data shows that Gaotu Jiapin’s live broadcast room sales in the past seven days have been between 10 million and 25 million yuan. As of the time of writing, the number of fans has reached 2.376 million. Compared with the 320,000 or so before the "Little Composition" incident, has gained more than 2 million followers. .
Gaotu responded to Yinshi Finance, saying, "Recently, both the order volume and transaction volume of Gaotu Jiapin have increased significantly."
At the same time, the share price of Gaotu, which is listed on the US stock market, has also continued to rise sharply. After a 17% surge on the evening of December 12, Gaotu's stock price rose another 7% on the evening of December 13, with a cumulative increase of 72% in four trading days, and its market value rose to close to US$1 billion.
▲ Gaotu’s stock price has soared. The picture comes from Sina Finance.
The anchor of Gaotu Jiapin was so moved that he said that when the number of people in the live broadcast room was the lowest before, there were only 8 people online at the same time. "We have been live broadcasting every day for the past eight months, asking for attention every day, and the total has only increased by two to three thousand." "Fans", "Now people can't buy anything they want. In the past, we wanted to sell, but we couldn't sell anything."
Even the various parties that extended an olive branch also gained attention.
html On December 15, Luo Yonghaofa claimed: "If Dong Yuhui himself wants to start a business, I would be willing to set up a game with some friends who are engaged in investment and business to support his smooth start-up." According to him, all the giants in e-commerce are in the process of starting a business. Try to contact Dong Yuhui. Because of this, many Dong Yuhui fans also entered Luo Yonghao's live broadcast room to learn about the latest developments.
html On the evening of December 15, a screenshot circulated on the Internet showed that JD.com’s vice president of human resources had gone to Shaanxi to recruit Dong Yuhui with the autograph of founder Liu Qiangdong. The talks went smoothly, and there is a high possibility of joining JD.com.
Although Dong Yuhui has denied this rumor, JD.com still earned a wave of traffic.
In the evening of the same day, Jingdong Books WeChat public account released a book list recommended by Dong Yuhui. Many Dong Yuhui fans went to Jingdong's multiple live broadcast rooms to call Dong Yuhui . In the JD Health Procurement and Sales live broadcast room, "Please come here to recruit Dong Yuhui" once flooded the screen barrage area, pushing up the number of simultaneous online viewers.
Today, when the cost of traffic is becoming more and more expensive, the influx of tap water has undoubtedly saved a marketing expense for JD Live Room.
Sun Dongxu still stays in Dongfang Selection
In fact, the "abandoned son" Sun Dongxu is not a loser.
html On the evening of December 17, Oriental Selection announced on the Hong Kong Stock Exchange that Sun Dongxu would be relieved of his duties as CEO and executive director with immediate effect.
However, in the list of board members attached to the announcement, Sun Dongxu is still listed as a non-executive director .
Non-executive directors, also known as outside directors, refer to directors who have no other contractual relationship with the company except for their status as directors. They serve as an oversight, check and balance to the executive director. Therefore, Sun Dongxu did not leave Dongfang Selection.
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▲ In the announcement issued by Oriental Selection, Sun Dongxu is a non-executive director.
This also confirms what Yu Minhong said in the live broadcast on the evening of December 16th. Although Sun Dongxu is no longer CEO, as his little brother and an entrepreneur of New Oriental, he will continue to contribute to Oriental Selection in other forms. .
He said that Sun Dongxu will still participate in the development of Oriental Selection and do more things for Oriental Selection, "For example, Yuhui and I can't do anything such as self-selected products and supply chain."
Yu Minhong explained during the live broadcast , the removal of Sun Dongxu from the position of CEO is not a "choice between two" as rumored by the outside world, and has nothing to do with Dong Yuhui. It is mainly due to poor management, including the "editor"'s statement on the official account of Oriental Selection that went beyond the management, Sun Dongxu's Inappropriate expressions during the live broadcast, and another anchor Tianquan’s gaffe during the live broadcast. He emphasized that this was a major management error and managers needed to bear corresponding responsibilities.
"The key to why Sun Dongxu is where he is today is that he worked hard with Yu Minhong and never left." Rossi, a publicist from New Oriental Online (the predecessor of Oriental Selection), told Jiemian News.
Like Yu Minhong, Sun Dongxu was also born in a rural area. It took Sun Dongxu 12 years to go from grassroots lecturer to CEO, and it took him 16 years to follow Yu Minhong.
It is reported that as a management member who grew up in the New Oriental system, Sun Dongxu resolutely implemented Yu Minhong's decision-making.
Sun Dongxu also won the attention of Yu Minhong. When he became the CEO of New Oriental Online, he was only 34 years old.
This is also reflected in salary. Oriental Selection's annual report shows that as of May 31 this year, Sun Dongxu's annual salary was 16.391 million yuan, accounting for more than half of the total salary of nine directors and top executives of 31.504 million yuan. He is the highest-paid employee of Oriental Selection, higher than the chairman of the board of directors Yu Minhong The annual salary of 9.661 million yuan is still high.
What has attracted much attention is that Sun Dongxu has cashed out at high amounts before.
On February 7th and 8th this year, Sun Dongxu sold a total of 3.86 million shares, reducing his shareholding ratio from 1.57% to 1.18%. In two days, he reduced his holdings and cashed out a total of HK$217 million.
Who says it is not another way of gaining both fame and fortune?
However, for New Oriental and Yu Minhong, the real test is far from over. And Dong Yuhui, who was passively involved in the center of this farce, may never go back.
