It's easy to share hardships, but hard to share prosperity. Dong Yuhui and EastSelect have finally reached the point of "breaking up".

On July 25, EastSelect issued an announcement officially announcing Dong Yuhui's departure and Dong Yuhui's full acquisition of "Huiyuantongxing" with 76.5855 million yuan.

Yu Minhong said, "To express my gratitude to Yuhui, in addition to the full promised benefits that have already been paid, I have requested and obtained approval from the board of directors and the compensation committee to award all net profits of Huiyuantongxing to Yuhui."

The announcement shows that Huiyuantongxing, which was established on December 22, 2023, generated a net profit of 141.414 million yuan during the period from December 22, 2023, to June 30, 2024.

In addition, Yu Minhong further explained the information in the announcement, "I arranged for the money Yuhui used to purchase the company. The company is a gift to Yuhui." "Since its establishment, all income and profits obtained by Huiyuantongxing have not been taken by EastSelect."

That is to say, after the "small essay" incident, Dong Yuhui did not choose to immediately "break up" and even "earned" by continuing to work at EastSelect for more than 7 months, obtaining 100% equity of Huiyuantongxing and 140 million yuan.

Regarding the "breakup", Yu Minhong and Dong Yuhui almost simultaneously issued open letters.

In his letter, Yu Yu mentioned that the matter had been confirmed around March this year, and the reason was "public opinion." He said, "Complex public opinion disputes, coupled with the guidance and rumors of a few sinister forces, directly led to the estrangement between EastSelect and Huiyuantongxing."

Dong Yuhui's letter was still about "poetry and the distance." Instead of mentioning too much about the reasons for the "breakup," he reviewed the development of Huiyuantongxing and thanked Yu Minhong and EastSelect, saying, "Detached from the shelter of the port, Huiyuantongxing will sail towards the vast sea alone from today. The future is unpredictable, and we must go all out."

After the "breakup," GrowthWorks observed the live streams of EastSelect and Huiyuantongxing, and both received mostly "blessings" and "encouragement" from fans, indicating that they had long anticipated this "breakup".

I. The rift emerged last year

From the "breakup" responses issued by Yu Minhong and Dong Yuhui, it can be seen that there was no estrangement between them. Even though the "separation" was basically confirmed as early as March, Yu Minhong provided as much support as possible, including new office space, renovations, and connections to government resources and business opportunities.

In the first live stream after Huiyuantongxing moved to the new industrial area, Dong Yuhui expressed gratitude to Yu Minhong, saying that Huiyuantongxing's ability to quickly start broadcasting in a short time was entirely due to Yu Minhong, "who gave us a lot of encouragement and tolerance."

Yu Minhong was generous to Dong Yuhui, who had contributed so much to building the company.

However, in the business world, generosity cannot solve problems, repair the rift between Dong Yuhui and EastSelect, maintain the joint development of EastSelect's original business and Huiyuantongxing's business, or quell the doubts from the outside world.

In his response, Yu Minhong did not shy away from addressing the catalyst that tore the rift to its widest extent—the "small essay" incident.

In December last year, a dispute erupted over who wrote the golden招牌—small essay for EastSelect. Fans vigorously defended Dong Yuhui, believing that EastSelect was erasing Dong Yuhui's contributions. After being attacked