Dong Yuhui has lost his spark.

Wallstreetcn
2023.12.16 15:02
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Author: Liu Baodan

Editor: Zhang Xiaoling

On the evening of December 16th, without any warning, Yu Minhong suddenly started a live broadcast on his personal account, and Dong Yuhui, who had been missing for a few days, appeared. This live broadcast received over 100 million likes, and Dong Yuhui and Yu Minhong gained overwhelming attention.

In the conversation that lasted for over an hour, most of it was Yu Minhong talking. Although the live broadcast used wide-angle shots, it was still evident that Dong Yuhui felt awkward and uncomfortable in the face of the overwhelming comments. Yu Minhong's body language was also very unnatural.

Regarding the most concerned question of whether he will stay or leave, Dong Yuhui stated that he has no intention of leaving. He said, "I am very idle, I like to enjoy the refined and elegant things in life, and I want to do something valuable. At least for now, I want to do cultural things, and EAST BUY is a good place for that."

Yu Minhong also made it clear that in the future, if Dong Yuhui wants to do Oriental Selection, cultural tourism, or agricultural product promotion, as long as it is reasonable and makes sense, he will definitely provide him with the resources to achieve it.

Dong Yuhui has reached an agreement with Yu Minhong and will focus more on book promotion, cultural promotion, and cultural tourism in the future.

In Dong Yuhui's view, this choice aligns with his philosophy of life. He believes that if one cannot align their life direction with the education they have received or what their parents have taught them, they may become wealthy but not necessarily happy. "I cannot use everyone's love and care for me to turn myself into a sales champion and pursue many benefits. There is no shortage of salespeople in this world."

For Dong Yuhui, salary is not his top priority. He said, "To be honest, if salary was my pursuit, I would have left in June last year when I received many high-paying offers." "A true gentleman is willing to die for his friends, and happiness is my top pursuit."

However, Yu Minhong has always said that Dong Yuhui has never mentioned salary or any other demands to him. He has been maintaining the development of Oriental Selection with a peaceful mindset. He also denied that he was the cause of Xiaosun's resignation. As the chairman of the company, he did not fulfill his management responsibilities, which led to this crisis.

He also emphasized several times that although Xiaosun has been dismissed, he will still serve Oriental Selection in his own way.

Yu Minhong's remarks have sparked dissatisfaction among many netizens, who see it as a form of moral coercion. They are calling on Yu Minhong to show sincerity and "not bully honest people."

In response, Yu Minhong stated that the issue of treatment has already been adjusted, and there will be a better adjustment for all anchors, including Dong Yuhui and others. This is something that the new CEO, himself, must do. "Dong Yuhui's treatment already includes equity."

The entire live broadcast process was very uncomfortable. Yu Minhong did not show any sincerity; he was just constantly trying to keep Dong Yuhui, driven by self-interest. He always spoke to Dong Yuhui in a condescending and elder-like manner, and their relationship was not equal.

Currently, Oriental Selection has a market value of HKD 26.6 billion. In the past few days, due to the Xiaosun incident, Oriental Selection's market value has evaporated by at least HKD 4 billion. Yu Minhong urgently needs to appease the investors who are voting with their feet. Before the live dialogue, he had already dismissed Xiaosun from his position. Yumin Hong, the shareholder of EAST BUY and Dongfang Zhenxuan, has a net worth of 13.5 billion yuan on the Hurun Rich List. The decline in stock prices has a huge impact on his personal interests. Dong Yuhui also knows where his interests lie: his own intellectual property and the brand of Dongfang Zhenxuan are deeply intertwined. If he leaves, no matter which platform he goes to, he will have to find new partners who share the same values, which also means risks.

But Dong Yuhui has been avoiding discussing interests. He said that the Dragon Slayer cannot become the Evil Dragon and has taken a transcendent attitude towards money and interests. But in reality, he cannot escape this hurdle.

Some say that Dong Yuhui is a typical Confucian scholar and the most admired and desired goal in Chinese family education.

The teachings of Confucius and Mencius are fully reflected in him. His way of looking at wealth and his subconscious detachment from money still cannot face it calmly. He talks about benevolence and righteousness, and the saying "A gentleman would die for his friends" is highly respected and trusted by Yumin Hong.

According to business logic, he and Yumin Hong should have negotiated a mechanism for sharing interests before deciding whether to come back or not, but he never did.

Dong Yuhui subconsciously avoids pursuing business success. He doesn't want to be held hostage by money or interests. But he doesn't realize that he is already a top KOL. If he cannot control money and interests, cannot control discourse power and resources, he may still fall into a passive situation in the company, just like in this recent incident.

It's as if a person suddenly possesses unparalleled martial arts skills. Dong Yuhui, who became popular last year with over 20 million fans, still doesn't know how to control the power he possesses. "Intellectuals must hit a wall, hit the wall of the business market, and only after hitting it can they be renewed and burst forth with new great power."

Dong Yuhui is still simple and naive. He believes he can continue to play a role on the platform of Dongfang Zhenxuan and fulfill his dreams. He also seems to be very clear. At the end of the conversation, he candidly and firmly stated that if one day he is not happy here or cannot exert his own value, he can still leave.

However, unlike the shining eyes of Dong Yuhui in the live broadcast last June, the light in his eyes is now dissipating.