Public Report on New Graduates Being Asked to Choose Between Resignation and Reassignment

According to a Yicai report republished by Sina Finance, beginning on August 8, 2026, Xingyu held individual meetings with new graduates who had joined in July. The report said HR asked them to resign, citing the market environment and company operating conditions, and that resignation certificates uniformly stated resignation for personal reasons. Recordings provided by students reportedly described an option to sign a termination agreement that day in return for half a month's salary, August social-insurance contributions, and a job reference; those who declined would be reassigned to frontline operator positions under operator pay and benefits. Several graduates said a group chat that had contained more than 400 people had about 120 remaining, although leaving the group does not by itself establish termination. The report also noted that the company resubmitted a Hong Kong listing application on July 29 and that its campus-recruitment page showed no openings. As of publication, the company had not responded to the report's question about the dismissals.