CNBC AI News, August 17 – According to reports surfacing from Chinese media outlets, tech personality and entrepreneur Luo Yonghao recently took to Weibo, stating that Dong Yuhui, after venturing out independently with his “With Hui Tong Xing” venture, is raking in an estimated annual income of 2 to 3 billion yuan.
Luo further added that Dong Yuhui allegedly needed to borrow money for a down payment on a house before leaving his previous role at New Oriental’s Koolearn Technology (东方甄选, Dongfang Zhenxuan).
With Hui Tong Xing has since refuted the claims, telling reporters that the information is inaccurate.
Earlier reports indicated that shares of New Oriental’s Koolearn surged over 200% in the year following Dong Yuhui’s departure, pushing the company’s market capitalization above HK$30 billion.
In July 2024, New Oriental and Dong Yuhui officially parted ways. The announcement triggered a sharp sell-off, with the company’s stock plummeting over 23% in the first trading day, wiping out HK$3 billion in market value and hitting a low of HK$8.92 during the session. The market reacted with concern, suggesting that without Dong Yuhui’s star power, New Oriental’s livestream e-commerce ambitions could face significant headwinds.
Analysts broadly speculated that New Oriental’s livestreaming business might struggle without the support of a top-tier influencer like Dong Yuhui.
In January of this year, media outlets also reported that Dong Yuhui topped the “2024 China Internet Anchor Net Income Ranking” with an annual income of 2.8541 billion yuan.
Dong Yuhui addressed these reports on livestream, dismissing them as unfounded rumors: “I was shocked when I saw that screenshot. It’s easy to spread rumors, but much harder to debunk them.”
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