I never knew shamelessness could reach this level before.

Regarding Yu Minhong's open letter, I've summarized three key points:

1. It was me who persuaded the board to let go—100% of the equity, not retaining even a tiny share to benefit from future profits, and only charging a friendly bargain price of 76 million yuan;

2. It was me who pushed to hand over all the net profits of Yu Hui Tong Xing;

3. It was me who "arranged" the remaining funds Dong Yuhui lacked to buy the shares, following the "compliant" process.

Oh, and I forgot to add: I secretly worked on this for months without telling anyone.

The core asset of a publicly listed company was completely stripped away for 76 million yuan, far below fair market value. In the end, Yu Minhong still jumps out to play the good guy, even handpicking one (and only one) comment under his open letter: "This means I arranged the money for Yuhui to buy the company—the company was gifted to Yuhui." How about showing us the comments from minority shareholders?

Key employee departures, subsidiary transfers, compensation incentives, financial support—each only requires board authorization, each complies with regulations, yet in the end, it's the minority shareholders who suffer the most, and the company's core interests are damaged. Many MCNs are overly reliant on top influencers, but Eastern Selection is the first to fully divest and even pay for the influencer's journey.

This is the most outrageous move I've seen since Jack Ma stabbed shareholders in the back by spinning Alipay out of Alibaba. Yu Minhong actually wants to use this to build a reputation for generosity? Can capitalists really be this shameless when fleecing naive investors now?

Reading Yu Minhong's open letter again, I didn't see a single line where Dong Yuhui said he wanted to leave—only "To ensure Yu Hui Tong Xing has a better stage for development and avoid business conflicts and public disputes, after repeated discussions, we decided..." So all this nonsense is because netizens talk too much?

Then comes the money, the free IT support—but the interests of minority shareholders (including those of Eastern Selection and New Oriental) are completely betrayed.

The Hong Kong stock market is truly brutal. Don’t complain that regulators don’t protect minority shareholders.$EAST BUY(01797.HK)