关于产品质量和服务质量，东方甄选在财报中公布了新的改进措施。东方甄选表示，无论是自营产品还 是合作品牌的商品，公司都将进一步加强质量检验与控制的强度。公司计划建立每两周/每月的质量检 验报告机制，内容涵盖抽检合格率、问题产品整改措施及供应商资质评估结果等详情。 在渠道方面，东方甄选在财报中提及，为继续深化多渠道战略布局，在线下不同区域布局40多台自动售 货机，其中部分已实现盈利。东方甄选即将在北京中关村，开设首家线下体验店。俞敏洪表示，在北京 首家线下体验店之外，东方甄选还计划开设新的矩阵直播账号并招募新主播，全方位提升公司的品牌影 响力。 新京报贝壳财经讯(记者丁爽)1月28日，东方甄选披露2026财年中期业绩。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%。报告期内，东方甄选净溢利为2.39亿元，同比实现扭亏。 报告期内，东方甄选自营产品及直播电商业务总GMV(商品交易总额)为41亿元，来自东方甄选App的 GMV占18.5%。截至2025年11月30日，东方甄选已累计推出801款自营产品，自营产品GMV在报告期内 占总GMV约52.8%。 ...

Group 1 - The core viewpoint of the news is that Dongfang Zhenxuan (01797.HK) has turned a profit in the first half of the 2026 fiscal year, reporting a total revenue of 2.3 billion yuan, a 5.7% increase compared to the same period last year [1] - The company's net profit reached 239 million yuan, a 14.5% year-on-year increase, reversing a loss of 96.5 million yuan from the previous year [1] - The total GMV of self-operated products and live e-commerce business reached 4.1 billion yuan, with a 16.4% increase compared to the first half of the 2025 fiscal year [1] Group 2 - The product development and supply chain optimization have made significant progress, with the number of self-operated products increasing to 801 SPUs from 600 SPUs year-on-year [2] - Self-operated products accounted for approximately 52.8% of GMV, and the company plans to enhance its logistics capabilities in major cities [2] - The total number of employees in the self-operated products and live e-commerce team reached 1,373, with 1,054 full-time and 319 part-time employees [2] Group 3 - In the 2025 fiscal year, Dongfang Zhenxuan faced multiple challenges, resulting in a total revenue of 4.392 billion yuan, a 32.7% decline year-on-year [3] - The net profit from continuing operations turned positive at 6.2 million yuan, compared to a net profit of 249 million yuan in the previous fiscal year [3] - The decline in revenue was attributed to intensified competition in the live e-commerce sector and strategic adjustments within the company [3]

Core Insights - The company reported a 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 spin-off, the total revenue increased by 17% [1] - Net profit reached 239 million yuan, with a gross profit of 841.6 million yuan, reflecting a year-on-year growth of 14.5% [1] - The company demonstrated strong operational resilience in a complex environment, achieving simultaneous growth in total revenue and net profit, laying a solid foundation for long-term sustainable development [1] Revenue Breakdown - For the period from June 1 to November 30, 2025, the total GMV from self-operated products and live e-commerce business was 4.1 billion yuan, with a significant portion coming from Douyin. The GMV from the company's app accounted for 18.5%, showing a notable increase compared to the same period last year [1] - Self-operated products contributed approximately 52.8% to the total GMV during the reporting period, driven by category expansion and product upgrades, effectively boosting overall sales and long-term profit growth [1] Future Outlook - The company plans to continue strengthening food safety and social responsibility while maintaining its core advantage of high quality, aiming to create a more reassuring consumer experience [2] - The CFO indicated that the company will optimize its warehousing network to enhance delivery efficiency and customer experience, focusing on a full range of products and member system optimization through supply chain integration and AI technology [2]

Core Insights - The company reported a 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% [1][2] - Excluding revenue from the first half of the 2025 fiscal year prior to the spin-off, the total revenue increased by 17% year-on-year [1][2] - The net profit reached 239 million yuan, with a gross profit of 841.6 million yuan, reflecting a year-on-year growth of 14.5% [1][2] Revenue and Profitability - The total GMV (Gross Merchandise Volume) from self-operated products and live e-commerce business was 4.1 billion yuan [1][2] - A significant portion of the GMV came from Douyin, while the GMV from the company's app accounted for 18.5%, showing a notable increase compared to the same period last year [1][2] Product Strategy and Development - As of November 30, 2025, the company had launched a total of 801 self-operated products [3] - The expansion and iteration of product categories contributed to self-operated product GMV accounting for approximately 52.8% of total GMV, effectively driving long-term sales and profit growth [3] Strategic Initiatives - The company emphasized a product strategy focused on "health, high quality, and high cost-performance" while continuously expanding self-operated product categories and rigorously selecting high-quality external products [2][3] - The company is advancing a multi-channel strategy and matrix operation, planning to open new live streaming accounts and recruit new hosts to enhance brand influence [2][3]

东方甄选(01797)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。 ...

智通财经APP讯，东方甄选(01797)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。 ...

Core Insights - The company reported a 5.7% increase in net revenue, rising from RMB 2.2 billion for the six months ending November 30, 2024, to RMB 2.3 billion for the same period in 2025. Excluding revenue from the collaboration with Huizhong, total revenue increased by 17.0% from RMB 2.0 billion to RMB 2.3 billion [1] - The company transitioned from a net loss of RMB 96.5 million for the six months ending November 30, 2024, to a net profit of RMB 239.0 million for the same period in 2025, establishing a solid foundation for long-term sustainable development [1] - The company demonstrated strong operational resilience in the face of unexpected challenges, achieving significant recovery with both revenue and net profit showing year-on-year growth [1] Product Development and Supply Chain - The company made significant progress in product development and supply chain optimization, expanding its product categories from fresh food and snacks to a more diversified range, launching a total of 801 self-operated SPUs by November 30, 2025, up from 600 SPUs a year earlier [2] - New product categories include seafood, nutritional supplements, kitchen condiments, dairy products, personal care items, and home cleaning products, effectively meeting consumer demands for health and convenience, thereby driving overall sales and profit growth [2] - The company's GMV for the six months ending November 30, 2025, reached RMB 4.1 billion, representing a 16.4% increase from RMB 3.6 billion in the previous fiscal year, with a significant portion of GMV coming from Douyin [2] Future Direction - The company aims to continue its commitment to becoming a live shopping platform that selects quality products for customers, focusing on self-operated agricultural products, and providing a pleasant cultural experience [3] - The company is dedicated to promoting public welfare and creating value for society as part of its mission [3]

East Buy Holding Limited 東方甄選控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1797） 截至2025年11月30日止六個月的 中期業績公告 東方甄選控股有限公司董事會欣然宣佈於報告期間本集團的未經審核綜合中期 業績。該等中期業績已經審核委員會審閱。 於本公告中：(a)「我們」指本公司及（如文義所指）本集團；及(b)除非另有所 指，否則我們的簡明綜合財務報表以本集團的主要功能貨幣人民幣呈列，且所 呈列數字均為近似值，約整至最接近的整數或小數點後一位（倘合適）。 主要財務摘要 | | 截至2025年 | 截至2024年 | | | --- | --- | --- | --- | | | 11月30日 | 11月30日 | | | | 止六個月 | 止六個月 | 變動 | | | 人民幣千元 | 人民幣千元 | | | | （未經審核） | （未經審核） | | | 總營收 | 2,311,629 | 2,186,636 | 5.7% | | 毛利 | 841,639 | 735,143 | 14.5% | | 除稅前利潤╱（虧損） | 308,526 | (72,481) ...

Core Viewpoint - The company is shifting its focus towards private traffic to enhance customer loyalty and maximize customer lifetime value in a competitive live-streaming e-commerce environment [1][10][13] Group 1: Community Engagement - All product managers at the company are now engaged in the community channel, which has reached daily active users in the tens of thousands, aiming to quickly respond to market demands and enhance customer retention [1][2] - The community channel allows for real-time feedback on product features and suggestions, covering 15 product categories including fruits, vegetables, and dairy [2][8] - User-generated content (UGC) in the community helps in product correction, reducing trial and error costs, and increasing the success rate of new products [9][10] Group 2: User Demographics and Loyalty - The community channel primarily attracts loyal users, particularly women aged 35-45, aligning closely with the platform's overall user profile [2][10] - Despite a slowdown in fan growth on Douyin, the company has seen a slight increase in paid membership, with 19.86 million and 26.43 million members in fiscal years 2024 and 2025 respectively [11][12] - The community serves as a buffer for user relationships, enhancing emotional connections and trust, which can lead to increased willingness to pay [11][12] Group 3: Market Adaptation and Product Development - The company is actively adapting to market feedback through its community channel, which aids in the development of new products, with a minimum development time of 2-3 months [8][12] - In fiscal year 2025, the company increased its self-operated product SKUs by nearly 50% to 732, with self-operated products accounting for 43.8% of GMV [12] - The introduction of high-margin products like prickly pear juice and probiotics is aimed at optimizing revenue structure [12] Group 4: Strategic Shift in Operations - The transition to private traffic represents a strategic shift from rapid expansion to meticulous cultivation of customer assets, emphasizing the importance of long-term brand building [13] - The company is also exploring new customer segments through initiatives like gift orders on WeChat, which saw a 1622% increase [12] - The focus on private traffic is seen as essential for maximizing customer lifetime value in a competitive landscape [13]

Group 1 - The upcoming week will see a total reverse repurchase maturity scale of 11,810 billion yuan, with specific maturities on each day from Monday to Friday [1] - On January 26, a press conference will be held by the State Council Information Office regarding the 2025 business work and operational situation [2] - On January 27, China will release the year-on-year profit data for large-scale industrial enterprises for December 2025 [3] Group 2 - A press conference on January 28 will introduce the high-quality development of state-owned enterprises [4] - On January 30, preliminary GDP data for Hong Kong for the fourth quarter will be published [5] - On January 31, the official manufacturing PMI data for January will be released, with December's PMI recorded at 50.1%, an increase of 0.9 percentage points from the previous month [6] Group 3 - A total of 30 companies will have their restricted shares unlocked next week, with a total market value exceeding 40 billion yuan, with January 27 being the peak unlocking date [6] - The companies with the highest unlocking market values include Haibo Shichuang (23.154 billion yuan), Fostar (5.367 billion yuan), and Yifang Biotechnology-U (4.251 billion yuan) [6] - Three new stocks will be issued next week, including Beixin Life on January 26 and Linping Development and Electronic Science and Technology Blue Sky on January 30 [6] Group 4 - The upcoming week will feature a "super earnings week" for U.S. stocks, with major tech companies like Microsoft, Meta, Tesla, Apple, and others reporting earnings [8] - The Federal Reserve is expected to announce its interest rate decision on January 30, with a low likelihood of rate cuts in the first quarter [8] - The U.S. government faces a risk of shutdown by January 31, with a 75% probability of closure due to recent political tensions [9]