HK Stock Market Move | EAST BUY (01797) plunges more than 8% in midday trading, four core anchors collectively resign, the company quickly distributes 500 million Hong Kong dollars in stock incentives.

EAST BUY (01797) fell by more than 8% during trading hours, closing down 5.96% at HK$25.88 as of the time of writing, with a turnover of HK$3.45 billion. On the news front, on April 28, EAST BUY announced the allocation of 19.3014 million shares to directors, executives, and key employees as incentives. Based on the closing price of HK$28.44 per share on that day, the total value reached HK$549 million. Among them, Yu Minhong received 1.8 million shares; Executive Director and CFO Yin Qiang received 450,000 shares; and a total of 3,000 employees received 17.0514 million shares, with a total market value of approximately HK$485 million, averaging around HK$1.6165 million per person. Public information shows that several core anchors of EAST BUY, including Mingming, Tianquan, Zhongcan, and Linlin, have recently confirmed their departure from EAST BUY, citing changes in the live broadcasting environment brought about by the new management. Yu Minhong responded that after the management adjustment, there has been a deviation in the company's management style, affecting the enthusiasm of excellent anchors. It is reported that since Sun Jin took office, EAST BUY has started to further "decentralize," mainly by expanding the anchor team and creating matrix channels.