东方甄选(01797)涨超9%，截至发稿，涨9.14%，报24.12港元，成交额1.68亿港元。 消息面上，1月28日，东方甄选发布截至2025年11月30日止6个月业绩，该集团期内取得总营收23.12亿 元人民币，同比增加5.7%；公司拥有人应占溢利2.39亿元，同比扭亏为盈；每股基本盈利0.23元。截至 2025年11月30日，东方甄选已累计推出801款的自营产品。得益于品类扩充和升级迭代，自营产品GMV 在报告期内占总GMV约52.8%，有效带动了整体销售与利润的长期增长。 ...

消息面上，1月28日，东方甄选发布截至2025年11月30日止6个月业绩，该集团期内取得总营收23.12亿 元人民币，同比增加5.7%；公司拥有人应占溢利2.39亿元，同比扭亏为盈；每股基本盈利0.23元。截至 2025年11月30日，东方甄选已累计推出801款的自营产品。得益于品类扩充和升级迭代，自营产品GMV 在报告期内占总GMV约52.8%，有效带动了整体销售与利润的长期增长。 智通财经APP获悉，东方甄选(01797)涨超9%，截至发稿，涨9.14%，报24.12港元，成交额1.68亿港元。 ...

Group 1: AI and Education - Jack Ma emphasizes that in the AI era, the focus should be on teaching children how to effectively use AI rather than debating its necessity. He believes curiosity, imagination, creativity, judgment, and collaboration are the key skills needed [1] - The Ma Yun Rural Teacher Program aims to enhance the quality of rural education through funding and professional training, providing support to 100 teachers annually [1] Group 2: Market Performance and IPOs - Hunan Mingming Henbang, a leading snack and beverage retailer, saw its stock surge by 88.08% upon listing on the Hong Kong Stock Exchange, closing with a market cap of 862.04 billion HKD [3] - SoftBank is reportedly negotiating to invest an additional 30 billion USD in OpenAI, which is seeking up to 100 billion USD in new funding, potentially valuing the company at 830 billion USD [9] - Tesla plans to cease production of Model S and Model X vehicles to transition towards a fully autonomous future, utilizing its "Optimus" robot factory [7] Group 3: Financial Results - Meta reported Q4 revenue of 59.89 billion USD, a 24% year-over-year increase, with advertising revenue also up by 24% [10] - Li Auto is restructuring its R&D framework, splitting the autonomous driving team into three distinct groups to enhance efficiency [9] - Oriental Selection reported a net profit of 239 million CNY for the first half of the 2026 fiscal year, reversing a loss from the previous year [11][12] Group 4: Corporate Developments - Amazon announced layoffs affecting nearly 16,000 jobs while continuing to invest in strategic areas [16] - The German automotive supplier, OMO, plans to cut up to 4,000 jobs globally due to challenging market conditions [16] - Longting Technology completed a new round of financing totaling 500 million CNY, with investments from various funds [17]

Group 1 - 31 provinces in China have announced their economic growth rates for 2025, with nearly half exceeding last year's targets. Tibet leads with a growth rate of 7%, followed by Gansu at 5.8% and Hebei and Henan at 5.6% [4] - Shenzhen Metro Group has provided an additional loan of 2.36 billion yuan to Vanke for debt repayment, with a three-year term and an interest rate of 2.34% [4] - Hang Seng Bank has officially delisted from the Hong Kong Stock Exchange, following a privatization plan by HSBC that was approved by the Hong Kong High Court [5] Group 2 - ByteDance has implemented new social media guidelines prohibiting employees from using company resources for personal profit, which is expected to significantly reduce the number of commercial accounts operated by employees [6] - Amazon announced a restructuring that will affect nearly 16,000 jobs, while continuing to recruit talent in key strategic areas [7] - Tesla plans to cease production of the Model S and Model X vehicles to focus on its "Optimus" robot production line, marking a shift towards a future based on autonomous driving [9] Group 3 - Meta reported fourth-quarter revenue of $59.89 billion, a 24% year-over-year increase, with advertising revenue also up by 24% [17] - Microsoft announced second-quarter revenue of $81.27 billion, with significant contributions from its cloud and productivity segments [17] - Tesla's fourth-quarter revenue was $24.90 billion, a 3% year-over-year decline, with net profit down 61% to $840 million [17]

Group 1: 东方甄选 (Dongfang Zhenxuan) - The company reported total revenue of 2.3 billion yuan for the first half of the 2026 fiscal year, representing a year-on-year growth of 5.7%. Excluding revenue from the first half of the 2025 fiscal year prior to the split, the revenue increased by 17% year-on-year [1] - The net profit for the reporting period reached 239 million yuan [1] - The company plans to enhance its brand influence by opening its first offline experience store in Beijing and recruiting new hosts for its live streaming accounts [1] Group 2: 阿里云 (Alibaba Cloud) - Alibaba Cloud launched the full suite of cloud services for Moltbot (formerly Clawdbot), providing the necessary computing power, models, and messaging applications for users [2] - Users can quickly enable Moltbot on Alibaba Cloud's lightweight application servers or Shadow Cloud PCs and access over a hundred models from Alibaba Cloud's Qianwen series [2] - The service supports iMessage and enables interactive messaging through DingTalk, aiming to lower the technical barriers and initial costs for users deploying AI assistants [2] Group 3: 锅圈食品 (Guoquan Food) - Guoquan Food announced the establishment of an independent AI division focused on enhancing home dining experiences through smart product selection, precise recommendations, and efficient fulfillment optimization [3] - The founder emphasized a steady strategy to maintain growth while advancing structural adjustments, with a focus on digital intelligence and AI retail as core drivers [3] - The establishment of the independent AI division indicates a commitment to improving operational efficiency in the competitive food retail industry, with success dependent on effectively translating AI technology into operational benefits [3]

Core Viewpoint - Oriental Selection reported a total revenue of 2.3 billion RMB for the first half of the 2026 fiscal year, marking a year-on-year increase of 5.7% [2][3]. Financial Performance - Total revenue for the period from June 1, 2025, to November 30, 2025, was 2.3 billion RMB, with a 5.7% increase compared to the same period last year [2][3]. - Excluding revenue from the first half of the 2025 fiscal year prior to the split, total revenue increased by 17% year-on-year [2]. - Net profit reached 239 million RMB, with a gross profit of 841.6 million RMB, reflecting a 14.5% year-on-year growth [2][3]. - The company's gross merchandise volume (GMV) from live e-commerce was 41 billion RMB, down from 48 billion RMB in the same period last year [2]. - The number of orders on Douyin was 42.1 million, compared to 50.1 million in the previous year [2]. Product and Service Development - As of November 30, 2025, Oriental Selection launched a total of 801 self-operated products, with GMV from these products accounting for approximately 52.8% of total GMV, contributing to long-term sales and profit growth [4]. - The company plans to establish a quality inspection report system every two weeks or monthly, covering product inspection rates and supplier evaluations [6]. - The CFO stated that the company will optimize its warehousing network to enhance delivery efficiency and customer experience, focusing on a comprehensive product range and membership system [6]. Channel Expansion - Oriental Selection is implementing a multi-channel strategy, including the installation of over 40 vending machines in various regions, some of which are already profitable [5]. - The company plans to open its first offline experience store in Beijing, covering 439 square meters and showcasing a wide range of self-operated and third-party products [5]. - The store will feature interactive areas for product tracing and tasting, aiming to meet community consumption needs with services like online ordering and member-exclusive benefits [5].

Core Viewpoint - Oriental Selection reported a resilient performance in the first half of the fiscal year 2026, achieving year-on-year growth in both total revenue and net profit despite a complex market environment [1][2]. Financial Summary - Total revenue for the six months ending November 30, 2025, reached 2.311629 billion RMB, representing a year-on-year increase of 5.7%. When excluding the impact of the previous year's revenue, the actual growth rate was 17% [2]. - Net profit for the same period was 239.041 million RMB, a significant turnaround from a loss of 96.503 million RMB in the previous year, marking a 347.7% increase [2]. - Gross profit amounted to 841.639 million RMB, reflecting a year-on-year growth of 14.5% [2]. Business Operations - The total GMV (Gross Merchandise Volume) from self-operated products and live e-commerce reached 4.1 billion RMB, with Douyin contributing the majority share. The GMV from the company's own app increased to 18.5% [3]. - The company launched 801 self-operated products, which accounted for approximately 52.8% of the total GMV [3]. - Oriental Selection has deployed over 40 vending machines across various locations in China, with some already achieving profitability. Plans are in place to open the first offline experience store in Zhongguancun, Beijing [3]. Quality and Customer Engagement - To enhance product and service quality, the company plans to strengthen its quality inspection mechanisms, implementing bi-weekly/monthly quality reports covering pass rates and product rectifications [3]. - The company is utilizing community surveys and user interviews to gather precise consumer demands for product optimization [3]. Content and Talent Development - Recently, the company resumed live streaming on WeChat Video Account and launched several vertical accounts on Douyin, including "Poetry and Wine Life," "Fruit and Vegetable Flagship Store," and "Home Goods Pavilion," to create a matrix operation [3]. - A long-term recruitment plan has been initiated to enhance the training of hosts and professionals, focusing on product knowledge, content creation, and live streaming skills [3]. Future Outlook - Oriental Selection aims to continue focusing on high-quality products, strengthening its omnichannel layout and optimizing its membership system, while integrating supply chains and leveraging technology to provide consumers with a better shopping experience [4].

Core Insights - Dongfang Zhenxuan (1797.HK) has turned a profit for the first time, reporting a net profit of 239 million yuan for the first half of the 2026 fiscal year, compared to a net loss of 96.79 million yuan in the same period last year [2] - The company's total revenue reached 2.312 billion yuan, marking a year-on-year increase of 5.7%. Excluding revenue from the Huizhong live streaming room, total revenue would have increased by 17% [2] - Self-operated products have become the main driver of revenue growth, with revenue from these products rising by 18.1% to 2 billion yuan, accounting for approximately 52.8% of total GMV [2] Revenue and Performance - For the period from June 1 to November 30, 2025, the total GMV for self-operated products and live e-commerce business was 4.1 billion yuan [2] - The Douyin platform remains the core source of traffic for the company, contributing the highest GMV share, while the GMV share from the Dongfang Zhenxuan app increased to 18.5%, showing growth compared to the previous year [2] Channel Strategy - The company plans to deepen its multi-channel strategy, with steady progress in offline expansion, having deployed over 40 vending machines in various regions, some of which are already profitable [3] - A new flagship offline store is set to open in Beijing's Zhongguancun, covering an area of 439 square meters, designed to create a one-stop shopping, leisure, and social experience [3] - The flagship store will showcase hundreds of self-operated products across various categories and introduce diverse third-party brand products, enhancing consumer choice [3]

Core Viewpoint - Oriental Selection reported a total revenue of over 2.3 billion yuan for the first half of the 2026 fiscal year, marking a year-on-year growth of 5.7% [1]. Financial Performance - The company's gross profit reached 841.6 million yuan, reflecting a year-on-year increase of 14.5% [1]. - Oriental Selection transitioned from a net loss of 96.5 million yuan for the first half of the 2024 fiscal year to a net profit of 239 million yuan for the same period in 2025 [1]. Gross Merchandise Volume (GMV) - The GMV for the first half of the 2026 fiscal year was 4.1 billion yuan, which represents a 16.4% increase from 3.6 billion yuan in the first half of the 2025 fiscal year, excluding revenue generated from the Huizhong live streaming room [1]. Product Performance - Self-operated products continued to be the main growth driver for Oriental Selection, accounting for approximately 52.8% of the total GMV for the first half of the 2026 fiscal year [1].

报告期内，东方甄选自营产品及直播电商业务总GMV为41亿元。其中，来自抖音的GMV占大部分，来 自东方甄选App的GMV占18.5%。此外，抖音上第三方产品及自营产品的已付订单总数已达到约4210万 单，去年同期则是5010万单。 在渠道布局方面，东方甄选透露，除北京首家线下体验店外，还计划开设新的矩阵直播账号并招募新主 播，以增强公司的品牌影响力。 公告显示，若剔除2025财年上半年分拆前产生的部分收入，东方甄选报告期内的总营收同比增加17%。 报告期内，东方甄选净溢利达2.39亿元；毛利为8.416亿元，同比增长14.5%。 免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自担。 每经记者｜李宇彤 每经编辑｜魏文艺 每经北京1月28日电（记者 李宇彤）东方甄选（1797.HK）当日公布的2026财年中期业绩显示，2025年6 月1日至11月30日，公司总营收23亿元，同比增长5.7%。 ...