By SHE Xiaochen
Controversial hot-shot live streamer DONG Yuhui has formed a new company with East Buy CEO YU Minhong. Former CEO of East Buy SUN Dongxu is the new business’s legal representative. The company is 100 percent owned by East Buy.
CEO until only last week, Sun was sidelined and replaced by Yu following the controversy surrounding Dong’s salary and loss of more than 80,000 followers on Douyin. East Buy stock fell 7 percent and HK$2.4 billion (2 billion yuan, US$300 million) was wiped off the company’s value during the contretemps.
Dong’s new account Yuhuitongxing (Walk with Yuhui) went live on Douyin on Tuesday. Posting only three works so far, the account gained 800,000 followers as soon as it opened.
Dong will continue to conduct live streaming sessions and promotions on the East Buy platform, but less frequently, and Yuhuitongxing’s performance will be included in East Buy’s accounts. Yuhuitongxing may focus on cultural tourism.
Dong also mentioned that the new live room is not a platform only for him, but will allow everyone to “fully express themselves” while maintaining East Buy ethos.
