The announcement of Oriental Selection’s removal as CEO was not stamped and there was no announcement. It was questioned whether it complied with regulations.

According to news on December 16, today Oriental Selection issued a personnel appointment and dismissal notice on its Douyin account: After the decision of the board of directors of Oriental Selection: Chairman Yu Minhong concurrently serves as the CEO of Oriental Selection, and Sun Dongxu is removed from the position of executive director and CEO of Oriental Selection, effective immediately.

However, the announcement was not sealed.

In addition, since Oriental Selection is a Hong Kong-listed company, according to relevant regulations, the appointment and removal of the CEO needs to be announced on the Hong Kong Stock Exchange. As of press time, there has been no relevant announcement.