New Oriental's shares rose broadly in early trading. As of this writing, East Buy (01797) rose 6.15% to HK$ 15.88, and New Oriental-S (09901) rose 3.81% to HK$ 61.25.
According to the Intelligence Finance APP, New Oriental's shares rose broadly in early trading. As of this writing, East Buy (01797) rose 6.15% to HK$ 15.88, and New Oriental-S (09901) rose 3.81% to HK$ 61.25.
On the news front, New Oriental's founder and East Buy CEO Yu Minhong issued an open apology letter to East Buy's customers, shareholders, and investors. Yu Minhong said that the chaos at East Buy was just a modest expression between friends. Regarding his statement that he wants to stay away from conflicts and live the life he wants, Yu Minhong apologized for the imprecise expression. In addition, his biggest wish in life is to exceed conflicts and enjoy the world, which he said 20 years ago, but it does not mean he is no longer responsible for the operation of East Buy and New Oriental.
In addition, the style of direct sales during East Buy's 618 live broadcast has sparked widespread controversy. The topic of "East Buy's live broadcast style changed after Dong Yuhui left" hit the hot search list on June 1. East Buy customer service responded on **** that this style is only temporary, and there will be rectifications in the future. East Buy official has not yet responded.