$EAST BUY.HK$ Up more than 6%, as of press time, it rose 6.45%, to HKD 12.88, with a turnover of 0.114 billion Hong Kong dollars.
On the news front, according to public information, recently, there has been a commercial change with Huitongxing (Beijing) Technology Co., Ltd. The original shareholder, Beijing New Oriental Xunce Network Technology Co., Ltd., withdrew and added Dong Yuhui as a shareholder with full holding. Earlier, Dong Yuhui's resignation caused a heated discussion on the Internet.
Tianfeng Securities believes that after the divestment from Huitongxing, East Buy is expected to build a brand-new valuation system. Although the GMV is outstanding with Huitongxing, the market cap of East Buy is low. The bank believes that the main reason may be due to the strong IP mode dragging down the valuation system. With the current divestment, on the one hand, it is expected to gradually build a valuation and tracking structure with self-operated products as the core. There are currently multiple successful hot products with potential. On the other hand, it may have a short-term impact on GMV, but it is expected to lay a solid foundation for sustainable development and long-term profitability in the future. Thirdly, there may be more resources synergy with New Oriental in the future.