Dong Yuhui's new company has been established, with Sun Dongxu as the legal representative of the holding company. What information is worth paying attention to?

On December 25th, it was reported that according to Tianyancha, recently, Huigongxing (Beijing) Technology Co., Ltd. was established with a registered capital of 10 million yuan. Dong Yuhui is the legal representative, executive director, and manager, while Yu Minhong serves as the supervisor. Its business scope includes wholesale of daily necessities, internet information services, retail of publications, performance brokerage, commercial performances, and tourism operations, among others. Through equity penetration, it is evident that Huigongxing (Beijing) Technology Co., Ltd. is a wholly-owned subsidiary of Beijing New Oriental Xuncheng Network Technology Co., Ltd. Sun Dongxu holds positions such as the legal representative, director, and manager of Beijing New Oriental Xuncheng Network Technology Co., Ltd. Behind the establishment of Dong Yuhui’s new company is Sun Dongxu, the legal representative of the controlling company.

“All day Dong Yuhui, what does it have to do with me? To be honest, if this hadn’t happened, I wouldn’t even know what Dongfang Selection is. While Americans are busy using AI to change the world, we are still focusing on a company that sells goods. How should we deal with this? I don’t understand why a company that sells goods and is in the cultural tourism business is called a technology company. Let’s not forget what Marx once said

The controversy surrounding the short essay is still fermenting, just as I have always written, Xiaosun has never substantially left the management.

The last hot search was just a few days ago when Xiaosun resigned as a non-executive director of Dongfang Selection.

Many people say that Xiaosun wants to resign and leave.

Actually, it’s quite the opposite. This is a signal of Xiaosun’s return to the management.

Not to mention an annual salary of over ten million yuan in today’s world. Where can you find such a comfortable position?

Not to mention that in this conflict, Xiaosun from Dongfang Selection has shown neither management skills nor the demeanor of a great leader. Which company would want him? Is he adding fuel to the fire for the company?

Taking the blame for Yu Minhong alone, when compared to Xiaosun and Dong Yuhui, it is Xiaosun who is truly one of Old Yu’s own.

Xiaosun resigned as a non-executive director of Dongfang Selection because non-executive directors are not allowed to participate in the management of the company, which is why they are called non-executive.

And from what we can see of Xiaosun now, including the clips he showed in the live stream after his resignation, he is telling you that he has the most direct control over Dongfang Selection.

Without the title of non-executive director, Xiaosun can effectively participate in the management of Dongfang Selection, just not within the board of directors.

In fact, if you look closely at those board members, you can hardly say that any of them are actively involved in management.

After Xiaosun’s removal, Old Yu took over, and it’s clear to everyone that Xiaosun was not replaced by anyone.

After resigning as a non-executive director, Xiaosun debunked rumors in his own live stream

The legal entity is Sun Dongxu, and the ultimate controller is Yu Minhong, which means that Dong Yuhui’s new company is a subsidiary of Dongfang Selection, not a company controlled by Dong Yuhui. The profits from its operations ultimately belong to the parent company, Dongfang Selection.

This structure indicates that the establishment of the new company is only to quell the controversy surrounding the short essay and does not completely liberate Dong Yuhui’s investment rights. Although Dongfang Selection has shown some sincerity by bringing Dong Yuhui on board as a senior partner and granting him some real authority, the treatment he receives is still insufficient according to the governance principles of today’s startup companies. Strictly speaking, New Oriental and Dongfang Selection are two separate companies, and Dong Yuhui’s role in Dongfang Selection is even equivalent to that of the group’s founder. However, the older generation at New Oriental largely sees Dong Yuhui as a popular anchor and an anchor who gained fame through the New Oriental platform, which goes against the management will of modern enterprises.

It is important to note that the content operated by Dongfang Selection falls within the realm of the soft industry, and it does not have any technological monopoly advantage. Unlike some companies that can continue to dominate market share even if their reputation is tarnished, Dongfang Selection’s core competitiveness comes from its brand value, which is bestowed by Dong Yuhui. From this perspective, the return that Dongfang Selection offers to Dong Yuhui is far from sufficient.

Furthermore, after this incident, Dong Yuhui’s personal business value has actually increased significantly. He has raised the goodwill he can provide to the group, and he should rightfully receive a more substantial reward. However, Dongfang Selection’s approach is relatively capital-oriented, and the establishment of Dong Yuhui’s new company is just another act of extracting his business value.

While Dong Yuhui may personally be content with this outcome, it does not mean that Dongfang Selection’s behavior is correct. On the contrary, in this matter, it not only reflects a lack of gratitude and respect from the upper management towards Dong Yuhui but also a misunderstanding of their own industry positioning, with no clear understanding of where their value originates.

That being said, the establishment of Dong Yuhui’s new company further highlights the face of capital exploitation. On the surface, it appears to grant Dong Yuhui more rights, but in reality, it is merely leveraging his influence to make money for the parent company. From this perspective, Dong Yuhui even has a sense of being sold while still counting money for someone else.

Dong Yuhui was really taken for a ride this time.

They made him the legal representative but didn’t give him a single share. Isn’t he just a pure scapegoat?

There were rumors in the outside world that Yu Minhong was a miser, or more accurately, as Luo Yonghao put it during a live broadcast, Yu Minhong is just a miser, not necessarily a bad person, just a bit stingy and hypocritical.

Then Yu Minhong actually responded to this matter in a live broadcast, clarifying that he is not a miser.

I heard someone say I’m a miser, let me clarify, this is not true.

Dong Yuhui could only cover for him, saying that Yu Minhong was in a hurry to help him solve his housing problem, but his salary couldn’t be increased, and the company couldn’t afford the expenses (meaning the majority shareholder with 99% ownership had the final say), so he lent him the money to tide over the difficult times.

After being widely ridiculed online, Old Yu said he didn’t want the money anymore and wouldn’t ask Yuhui to repay it, but it was already too late, the label had stuck.

Given the conflicts of interest between Luo Yonghao and Yu Minhong, what they say can’t be completely trusted. Dong Yuhui also came out to clarify, so I checked the equity structure of the new company and came to the conclusion:

The rumors are true.

He didn’t give anyone a single share.

This is the equity chain of the company aligned with Yuhui, and the ultimate beneficiary is Yu Minhong, with 99% ownership. Its parent company, Beijing New Oriental Xunce Network Technology Co., Ltd., has Sun Dongxu as the legal representative.

This is the equity chain of Dongfang Selection, and it’s not much different from the one aligned with Yuhui.

Look at Old Yu’s neat 100% ownership, Sun Dongxu can’t get a single share from him, let alone Dong Yuhui.

The parent company of Yuhui’s aligned company also has Sun Dongxu as the legal representative, although he doesn’t have a single share, he’s just here to annoy Dong Yuhui.

Everyone can only work for Old Yu, thinking of becoming a shareholder and making money, are they expecting too much?

No wonder Yu Teacher lent money to employees to buy houses.

On a side note:

Just one day after the establishment of the company aligned with Yuhui (Beijing) on December 22nd, this unknown company was registered, and the legal representative and shareholder of this company doesn’t have any other companies under their name.

Dong Yuhui’s fans are truly the most devoted enthusiasts of the year!

Some people are acting and harvesting leeks, and the leeks even praise the sickle for its hard work and pain.

What’s wrong with this world? It seems that the mob is always right!

Another shackle has been added to Dong Yuhui’s burden.

It turns out they staged a grand performance.

[Link to the source:]

When it comes to playing, it has to be Yu Minhong.

From the family disputes in the early years to the departures of Wang Qiang and Xu Xiaoping later on, to today’s Dong Yuhui incident, and the departure of many outstanding teachers (including Luo Yonghao)… it can be said that he has been through numerous battles, each of which is an epic struggle.

Establishing a company for Dong Yuhui without real power, letting him play with the Culture and Tourism new account: it not only successfully retains Dong Yuhui, pacifies public anger, and restores the influence of Dongfang Selection’s flagship account, but also allows them to continue the transformation of Dong Yuhui. Moreover, they can utilize Dong’s influence to further expand into the new territory of Culture and Tourism…

It’s as if nothing has happened at all.

They make you do all the work, but there’s no chance of improving your treatment even a bit. At least if you want to improve, you have to go through these nesting doll operations first, or you might as well not even try.

As we watch, another Li Ziqi is being born, until not a drop of surplus value is left.

Many netizens say: Luo Yonghao may not necessarily understand Dong Yuhui, but he certainly understands Yu Minhong… Is he really the iron rooster himself?

So, Dong Yuhui will meet his end next year, when the equity disclosure comes.

Fearful of brothers' hardships, yet afraid of brothers driving Land Rovers.

Um… I’m thinking now, could it be that these big shots are acting together to fool us? I’ve fallen for capitalists' tricks time and time again. I can’t even afford fruits myself, yet I’m worrying about someone else’s monthly income of a fortune.

Workers are still working, they’ve just become high-level workers, and of course, they bear more “advanced” responsibilities.

The helmsman is still at the helm, but in addition to steering, there are more “people and things” to be involved in.

Little Sun is still the same Little Sun, nothing has changed, except that this Little Sun has learned the seventy-two transformations.

The legal representative is just a scapegoat, it has nothing to do with the actual controller of the company.

I personally believe that people who can reach their level have extraordinary qualities. However, what we see is what others allow us to see. There is a lot of information that we cannot see because others are unwilling to show it to us, or for other reasons that make it inaccessible.

Therefore, our judgment of the situation may be biased due to the different information we possess. Perhaps this is what others need, and we are merely characters who have been sold by others and are still counting money.

People like Dong, to maintain the popularity of their live broadcasts and ensure certain sales, need to pay a price and constantly engage in various activities. Sometimes it may be part of marketing strategy, but at other times, it may be in line with changes in corporate strategy.

Speculating on such matters privately with the level of information transparency we have now is akin to gambling. Although some analyses may seem reasonable, personally, I believe that it is mainly based on reasonable deductions from information that is publicly available. The arguments and evidence may be compelling, making the logic seem sound to you. But do you still consider whether it is the truth to be important?

Yuk Min Hong, Sun Dongxu, and Dong Yuhui, the three titans of New Oriental spanning different generations, have indeed orchestrated a series of scenarios that outsiders find difficult to fathom. It began with the incident involving a short essay that stirred controversy, followed by the prominent emergence of Yuk Min Hong, who vigorously promoted Dong Yuhui while Sun Dongxu stepped down. Shortly thereafter, a new company led by Dong emerged, not as an independent entity, but as a subsidiary of New Oriental’s parent company. Behind the scenes, both Yuk and Sun played significant roles.

Clearly, this move has thrust Dong into the forefront, making him the legal representative of the new company and giving a subtle impression of him establishing his own power base. Meanwhile, the veterans continue to support him, ensuring that on the surface, he remains under the control of the parent company. The specific reasons for this arrangement are difficult for outsiders to discern. One possibility is that Yuk intentionally wants to groom Dong, further exploring his potential and allowing him to take on a leadership role with the backing of the parent company, thereby providing him with a higher starting point. Simultaneously, through this arrangement, Yuk appeases the old-guard factions represented by Sun Dongxu, allowing both the new and old factions to make their own preparations while maintaining the appearance of unity among the top leadership. However, this approach carries significant elements of trial and even substantial risks. Regardless, Yuk’s demeanor is indeed remarkable.

Looking across the landscape of China’s business world, such a significant promotion of a young person born in the 1990s, who is neither from a family background nor from another prominent lineage, is exceptionally rare. In comparison, Ms. Dong’s attitude toward Meng Yutong appears to lack the same level of magnanimity. At the same time, retaining Sun Dongxu within the leadership team and assigning him an important role, while keeping him separate from Dong Yuhui and responsible for different matters, is a demonstration of a broader perspective. The handling of this arrangement clearly reflects Yuk’s exceptional leadership stature.

A temporary measure to quell the storm. In fact, whether it’s Lao Yu or Little Dong and Little Sun, everyone knows it well. When you mix in the world, you always have to consider your reputation. Dong Yuhui is someone who repays kindness, well aware of the true intentions behind, but willingly cooperates. It can also be considered as repaying the favor of Lao Yu and Little Sun for recognizing his talents.

I won’t worry about the company’s affairs.

As for Oriental Selection, I haven’t bought anything from them.

Is their product really of good quality and affordable?

Why is a product recommendation company named as such?

Xiao Sun is the legal representative of Dongfang Zhenxuan, right? Yu Hui’s new company was established with Dongfang Zhenxuan as the controlling entity, so it’s quite normal for Xiao Sun to be the legal representative. What’s so strange about it?

Xiao Sun is not a bad person. In this incident, it was found that his perspective was somewhat limited, and he exhibited some bureaucratic tendencies. However, he is still quite capable, and it’s not fair to judge Xiao Sun solely based on this matter. Compared to many other leaders and bosses, Xiao Sun is much stronger.

A Drama Involving Three Men!

Just as Dong Yuhui’s new company was established, countless fans were cheering and emphasizing the power of unity. They believed that Dong Yuhui, who could lift countless New Oriental entities, deserved a stake in the company. They insisted that if he didn’t receive shares, they would unsubscribe, and it would be unjust not to retain him!

Before the dust could settle, curious netizens dug deeper, investigating and uncovering something surprising on the business license: Sun Dongxu as the actual legal representative and majority shareholder.

Image Source: QiChaCha

This revelation caused another uproar.

Dong Yuhui calmly responded on the 21st, stating that while he was forming his own studio, he had no intention of leaving Dongfang Zhenxuan. Moreover, he clarified that Dongfang Zhenxuan held a 100% stake, and all Gross Merchandise Volume (GMV) was recorded in the financial statements of this publicly traded company.

On the Winter Solstice, President Sun Dongxu shared, “Happy Winter Solstice, everyone! Have you had dumplings? I’m still with Dongfang Zhenxuan. Thank you for your attention and support.”

YU Minhong summed it up, reassuring everyone, “Rest assured, Dongfang’s Xiao Sun won’t leave Dongfang Zhenxuan. I will work hard to protect and care for every child in Dongfang Zhenxuan!”

So, these three men staged a major drama, and the plot took an unexpected turn. In the end, the power to make life and death decisions still firmly rested in the hands of Sun, who had just been removed from his position.

In this internal conflict at Dongfang Zhenxuan, Yu Minhong displayed the wisdom of a businessman.

Dong Yuhui understood gratitude and repaid kindness. He didn’t leave when public opinion was at its peak and resisted various temptations, acting with the resolve of “not clinging to self-interest, not insisting on necessity, not being rigid, and not being ego-driven." This made many people realize that, apart from money, there are more valuable things worth sticking to, and being true to oneself.

In the future, Dong Yuhui will remain a worker, not a chairman. Regardless of whether the audience understands or not, the world of competition among individuals is like not knowing the true face of Mount Lu; one is only aware when within the mountain.

But as long as one can earn money and do what they love, does it really matter whether they lead or manage, whether they are a president or not?

Promising talents from humble backgrounds are emerging as internet celebrities, becoming figures like Dong Yuhui, even if they make a million, it’s still a good outcome.

In reality, putting in enough effort is what truly matters.

There is only one brilliant Dong Yuhui.

Well, you could say that, Lao Yu is still a step ahead in terms of skills.

Once again, it emphasizes that Dong Yuhui is truly willing to go to great lengths for his friends, and women are willing to accommodate those who please them.

Let’s hope Lao Yu makes the most of it.