On June 28, “Oriental Selection anchor publicly expressed dissatisfaction in the live broadcast room” became a hot search on Weibo. The incident occurred recently when Dundun, one of the head anchors of Oriental Selection (1797.hk), publicly expressed his disappointment with the company in the live broadcast room.
Dundun said in a live broadcast that he has been annoyed by some of the company's practices recently, such as not discussing and communicating with the anchor at all when opening a new account. He only learned two days ago that the company's public relations department would not act if there was negative publicity between the company and the anchor. . "To be honest, I used to think the company was pretty good for a long time, but recently I have been a little disappointed with the company." Dundun said that the main reason he expressed this way was because he had a lot of negative emotions, and it was over as soon as he said it.
Throughout June, Oriental Selection continued to cause controversy and stock price fluctuations due to comments made by insiders. During the "618" promotion, in the Oriental Selection Beautiful Life live broadcast room, Dundun said when promoting products, "We are only selling goods now. You are here. This good product is really suitable. Just buy one and leave." Anchor Yoyo also shouted "321 link". On May 31, Yu Minhong said in a live broadcast: "Oriental Selection is now in a mess." On June 3, the topic became a hot search on Weibo, and triggered "The style of the Oriental Selection live broadcast room has changed" and "Oriental Selection has changed" Hot search topics such as "selecting knowledge to bring goods have changed to calling wheat to bring goods". Yu Minhong, founder of
New Oriental (edu.n) and CEO of Oriental Selection, said in the live broadcast that he has reached the age of retirement and will be a little further away from doing business in the future. "I have been scolded, accused and insulted online more times this year than in my entire lifetime," Yu Minhong said.
html On June 7, Yu Minhong issued an open letter apologizing to Oriental Selection’s customers, shareholders and investors. He said that "Oriental Selection was a mess" that was hotly discussed in the public opinion field was just a humble expression between him and his friends. He also made this comment on more than one occasion. In his opinion, it was a habitual expression, but he did not expect it. It will cause so many waves and lead to so many interpretations, good or bad.
After Yu Minhong apologized, Dong Yuhui, currently the cultural assistant to the chairman of New Oriental Education Technology Group (9901.hk) and the vice president of New Oriental Culture and Tourism Group, said in an outdoor radio program, "I am very resistant to selling things. I seek truth from facts. I still don’t enjoy this job today.” “Maybe it’s essentially due to my previous personality and my past career.” Although Dong Yuhui feels that his work is supportive, he has no joy. This comment directly caused the stock price to fall by more than 10% on June 11. Data from
third-party platform Cicada Mama shows that in the past 30 days, the total number of fans in the Oriental Selection live broadcast room has plummeted, from 30.411 million on May 30 to the current 30.103 million, a direct decrease of about 308,000. In Douyin’s “618 Big Sale” event that lasted from May 24 to June 18, Cicada Mama’s data showed that the top three on the list were the Guangdong couple, Jia Nailiang, and Yu Hui. Make a Friend live broadcast room ranked 13th, Oriental Selection ranked 15th.
Debon Securities Research Report analyzed that Oriental Selection is undergoing a process of transformation from live broadcast IP to platform. Reliance on a single channel is too high or there are large operating risks. The creation of kol's multi-level matrix and multi-platform channel operations are the direction for the stable operation of e-commerce platforms. Oriental Selection still has room for optimization in terms of the connection sophistication and management model of platform transformation.
Oriental Selection has indeed been increasing the construction of self-operated products and channels recently. Official data shows that in the second half of fiscal year 2024 (December 2023 to May 2024), the GMV of Oriental Selection's self-operated products exceeded 3.6 billion yuan , a year-on-year increase of 108% and a month-on-month increase of 74%. Dong Zheng, spokesman for Oriental Selection Products, said that the Douyin account of "Oriental Selection Self-operated Products" has exceeded 100 million yuan in GMV for several consecutive months. This year, Oriental Selection will add more than 10 vertical accounts on Douyin and will launch live broadcasts one after another.
As of press time, Oriental Selection’s share price is HK$12.7, down 0.63%.
(This article comes from China Business News)
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