Senses
迎新送旧/ 迎新送舊 to ring in the new and ring out the old
To welcome the new while bidding farewell to the old; often used regarding the New Year or changes in personnel
迎新送旧/ 迎新送舊 a prostitute's career
(archaic) Used to describe the life of a prostitute, referring to the constant cycle of welcoming and seeing off clients