New Oriental rose across the board in early trading. As of press time, East Buy (01797) rose 6.15% to HKD 15.88, and New Oriental-S (09901) rose 3.81% to HKD 61.25.
According to the Wisdom Wealth Daily App, New Oriental rose across the board in early trading. As of press time, East Buy (01797) rose 6.15% to HKD 15.88, and New Oriental-S (09901) rose 3.81% to HKD 61.25.
On the news front, New Oriental founder and East Buy CEO Yu Minhong issued an open letter apologizing to East Buy's customers, shareholders, and investors. Yu said that the phrase "East Buy has done a mess" is a humble expression between friends. Regarding his statement that he "stays away from disputes and lives the life he wants," Yu apologized for such an imprecise expression. In addition, he said that his greatest wish in life is to surpass disputes and travel the world, which he said 20 years ago, but that does not mean he is no longer responsible for East Buy's and New Oriental's operations.
In addition, the style of live-streaming sales during East Buy's 618 promotion has sparked widespread controversy, with the topic "The style of the East Buy live studio changed after Dong Yuhui left" trending on June 1st. In response, East Buy customer service stated on June 4th that this style is only temporary and will be rectified in the future. East Buy has yet to issue an official response.