Core Viewpoint - Oriental Selection has achieved profitability in the fiscal year 2025, with a significant increase in stock price and market capitalization, driven by its self-operated products and live e-commerce business [1][2]. Financial Performance - For the fiscal year 2025, total revenue from continuing operations reached 4.4 billion yuan, with a net profit of 6.2 million yuan, recovering from a net loss of 96.5 million yuan in the first half of the fiscal year [1]. - The net profit from continuing operations, excluding the financial impact of the sale of a subsidiary, was 135.4 million yuan, a year-on-year increase of 30% [1]. - The gross margin for continuing operations improved from 25.9% in fiscal year 2024 to 32% in fiscal year 2025, attributed to the healthy development of self-operated products and live e-commerce [1]. Business Strategy - The company focuses on a live platform centered around selecting quality products, with self-operated products as a long-term positioning strategy [2]. - The total GMV (Gross Merchandise Volume) for self-operated products and live e-commerce in fiscal year 2025 was 8.7 billion yuan, with self-operated products accounting for approximately 43.8% of total GMV [2]. - The number of paid subscribers for the Oriental Selection App reached 264,300, with a user satisfaction rate of 98.7%, marking a historical high [2]. Product Development - Oriental Selection has launched a total of 732 self-operated products in fiscal year 2025, up from 488 in fiscal year 2024, expanding its product categories beyond fresh food and snacks to include health products, pet food, and clothing [2]. - The company aims to enhance its supplier management system and establish a comprehensive quality control system covering all key aspects from raw material selection to sales [3]. Future Outlook - The company is committed to providing high-quality products and services, maintaining high standards in product selection, and continuously innovating to meet consumer expectations [3].

Core Viewpoint - Oriental Selection has successfully turned losses into profits in the fiscal year 2025, with a focus on self-operated products and live e-commerce as key growth drivers [4][5]. Financial Performance - For the fiscal year 2025, Oriental Selection reported total revenue from continuing operations of 4.4 billion yuan, achieving a net profit of 6.2 million yuan, recovering from a net loss of 96.5 million yuan in the first half of the fiscal year [4]. - The gross profit margin for continuing operations increased from 25.9% in fiscal year 2024 to 32% in fiscal year 2025, attributed to the healthy development of self-operated products and live e-commerce [4]. Growth Drivers - The total GMV (Gross Merchandise Volume) for self-operated products and live e-commerce reached 8.7 billion yuan in fiscal year 2025, with self-operated products accounting for approximately 43.8% of the total GMV [5]. - The number of paid subscribers for the Oriental Selection App reached 264,300, with a user satisfaction rate of 98.7%, marking a historical high [5][6]. Strategic Initiatives - The company plans to continue enhancing its self-operated product offerings, having launched 732 new products in fiscal year 2025, up from 488 in fiscal year 2024 [5]. - Future strategies include improving the membership system of the Oriental Selection App, expanding product offerings, and maintaining high standards in product quality control [6].

Core Insights - Oriental Selection reported a significant decline in net revenue for the fiscal year 2025, with a 32.7% decrease from 6.5 billion RMB to 4.4 billion RMB, while net profit turned positive at 0.062 billion RMB compared to a loss in the first half of the fiscal year 2025 [2][3] Group 1: Financial Performance - The adjusted net profit, excluding one-time expenses and profits from the sale of a subsidiary, increased by 30% year-on-year to 0.1354 billion RMB [3] - The Gross Merchandise Volume (GMV) dropped by 39.2% from 14.3 billion RMB to 8.7 billion RMB, leading to a reduction in total revenue costs by 38.2% to 3 billion RMB [3] - The gross profit decreased by 17% from 1.7 billion RMB to 1.4 billion RMB, but the gross margin improved from 25.9% to 32% due to healthy development in self-operated products and live e-commerce [3] Group 2: Operational Changes - The company emphasized the importance of self-operated products, which increased from 488 to 732 SKUs, becoming a key growth driver [4] - The administrative expenses for the ongoing business rose by 22.5% to 0.4848 billion RMB, primarily due to the distribution of remaining profits from a subsidiary [3][4] - The company announced a framework agreement with New Oriental to sell its own brand products, with historical transaction amounts increasing from 0.15 billion RMB in fiscal year 2023 to a projected 1 billion RMB in fiscal year 2026 [4]

Core Insights - Oriental Selection (1797.HK) reported a total revenue of 4.4 billion yuan for the fiscal year 2025, with a net profit of 6.2 million yuan, recovering from a net loss of 96.5 million yuan in the first half of the fiscal year [1] - The gross margin for the continuing operations increased from 25.9% in fiscal year 2024 to 32% in fiscal year 2025, driven by the healthy development of self-operated products and live e-commerce [1] - The company emphasized its commitment to product quality and safety, aiming to become synonymous with quality in the industry [1] Revenue and Profitability - The total GMV (Gross Merchandise Volume) for self-operated products and live e-commerce business reached 8.7 billion yuan in fiscal year 2025, with self-operated products contributing approximately 43.8% of the total GMV [2][3] - The GMV from Douyin accounted for the majority, while the contribution from the Oriental Selection App increased from 8.4% in fiscal year 2024 to 15.7% in fiscal year 2025 [2] Product Development and Service Enhancement - Oriental Selection launched a total of 732 self-operated products in fiscal year 2025, up from 488 in fiscal year 2024, expanding its product range to include health foods, pet foods, and apparel [3] - The company has implemented a cold chain logistics system to enhance delivery services, which has effectively reduced transportation times [3] App and Membership Growth - The Oriental Selection App achieved a paid membership subscription of 264,300, with user satisfaction reaching a historic high of 98.7% [4] - The app has introduced various member benefits and features, including a community forum and book club, enhancing user interaction and experience [4] Future Outlook - The company plans to maintain high standards in product quality and expand its membership benefits, aiming to increase the active user base and registered members of the Oriental Selection App [6][8] - Oriental Selection is committed to building a comprehensive quality control system covering all stages of the product lifecycle, from raw material selection to sales [8]

8月22日，东方甄选发布声明称，孙东旭老师在休假中，并没有离职。自从23年12月份之后，孙东旭老师一直以东方甄选和俞敏洪老师顾问的方式工作。俞 敏洪老师与孙东旭老师一直保持着良好的沟通。 据封面新闻，孙东旭2007年本科毕业后加入新东方集团。先后担任天津新东方学校国外考试部教师、合肥新东方学校助理校长、西安新东方学校校长。2019 年，年仅34岁的孙东旭担任新东方在线CEO。2023年3月，新东方在线更名为东方甄选。 2023年底孙东旭因"小作文风波"引发关注，当时他因处理董宇辉关于文案创作归属争议的方式不当，被免去东方甄选执行董事和CEO职务。此后孙东旭并未 离开新东方体系，2024年11月24日，他再次现身东方甄选直播间。 图片来源：东方甄选直播间 8月21日，俞敏洪在东方甄选APP测试直播时，有网友提及东方小孙，俞敏洪也回应弹幕，小孙在休假。 图片来源：东方甄选APP测试直播 近日，一则关于"东方甄选前CEO孙东旭或将离职"的消息在网络引发舆论关注，相关话题登上热搜。 据南方日报，8月22日，知情人士透露，"孙东旭目前在休假，这是其个人常规的年度夏季休假安排，休假结束后将正常返岗。"该知情人士表示，"孙 ...

转自：北京日报客户端 8月22日晚，@东方甄选 发布声明：孙东旭在休假中，并没有离职。自从23年12月份之后，孙东旭一直 以东方甄选和俞敏洪顾问的方式工作。俞敏洪与孙东旭一直保持着良好的沟通。 方甄选微博 来源：东 ...

Core Viewpoint - Oriental Selection reported a significant decline in revenue and net profit for the fiscal year ending May 31, 2025, primarily due to intensified competition in the live e-commerce sector and strategic business adjustments [1][4]. Financial Performance - Revenue for the fiscal year 2025 was 4.392 billion RMB, a decrease of 32.7% from 6.526 billion RMB in the previous year [1][3]. - Net profit from continuing operations was 6.191 million RMB, down 97.5% from 249.145 million RMB year-on-year [1][3]. - Excluding the impact of the sale of Huixing Technology, net profit from continuing operations was 135.4 million RMB, reflecting a 30% increase year-on-year [4]. Business Segments - Revenue from the app increased from 900 million RMB in fiscal year 2024 to 1.1 billion RMB in fiscal year 2025 [1]. - Total revenue from continuing operations, excluding Huixing Technology, decreased by 30.9% to 4.2 billion RMB [1]. Strategic Adjustments - The company has shifted focus towards self-operated products, investing more resources in product development and supply chain management [4][7]. - The decision to divest from Huixing Technology was made to concentrate resources and strengthen core competencies, as it was seen as a distraction [7]. Operational Metrics - The total GMV for fiscal year 2025 was 8.7 billion RMB, with a significant portion coming from Douyin [7]. - The app's paid membership subscriptions reached 264,300, indicating a growing membership system [7]. Cost and Profitability - Total cost of revenue for continuing operations decreased by 38.2% to 3 billion RMB, primarily due to reduced inventory and logistics costs [8]. - Gross profit fell from 1.7 billion RMB in fiscal year 2024 to 1.4 billion RMB, but gross margin improved from 25.9% to 32.0% [8]. Team and Management - As of May 31, the total number of employees in the self-operated products and live e-commerce teams was 1,401, with 1,070 full-time and 331 part-time staff [8]. - The company denied rumors regarding the departure of former CEO Sun Dongxu, stating he is on leave and continues to work in an advisory capacity [8].

若剔除出售与辉同行的财务影响，持续经营业务净溢利由2024财年的人民币1.04亿元增加30%至2025财年的人民币1.35亿元。 值得注意的是，东方甄选在财报中表示，自营产品已成为主要增长动力，占总GMV约43.8%，截至2025年5月31日已累计推出732款SPU自营产品。 其中，来自抖音的GMV占东方甄选GMV的大部分，来自应用程序的GMV占东方甄选总GMV的15.7%。2025财年，抖音上第三方产品及自营产品的已付订 单总数已达到约9160万单。 | | 东方甄选[01797] 2025-08-22 16:00 | | | | 5PMA = | 10PMA = 20PMA = 30PMA = | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 58.343 | | | | | | | | | | 51.870 | | | | | | | | | | 45.396 | | | | | | | | | | 38.923 | | | | | | | | | | 32.450 | | | | | | | | | | 25.977 | | ...

Financial Performance - In the fiscal year 2025, the company reported a revenue of 4.392 billion yuan, down 32.7% from 6.5 billion yuan in the same period last year [1] - The net profit for the fiscal year was 6.2 million yuan, while the net profit from continuing operations, excluding the impact of asset sales, was 135.4 million yuan, an increase of 30% year-on-year [1] - The gross margin for continuing operations improved from 25.9% in fiscal year 2024 to 32% in fiscal year 2025 [1] Sales Channels - The total paid GMV from all sales channels, including Douyin, Taobao, and the company's own app, decreased from 14.3 billion yuan to 8.7 billion yuan [1] - The proportion of GMV from the company's app increased from 8.4% in fiscal year 2024 to 15.7% in fiscal year 2025 [1] - The number of paid members grew to 264,300, up from 198,600 in the same period last year [1] Product Performance - Self-operated products accounted for approximately 43.8% of total GMV in fiscal year 2025 [2] - The company has launched a total of 732 self-operated products, up from 488 in fiscal year 2024, expanding its product range beyond fresh food and snacks to include health supplements, pet food, and clothing [2] - Self-operated products have become the main growth driver for the company [2]

据了解，8月22日当天，自媒体鞭牛士报道称，前东方甄选CEO孙东旭目前已经进入休假状态，可能将 在近期离职。 北京商报讯（记者 何倩）8月22日，针对媒体报道"前东方甄选CEO孙东旭可能将离职"一事，东方甄选 向北京商报记者回应称，孙东旭老师在休假中，并没有离职。自从2023年12月份之后，孙东旭老师一直 以东方甄选和俞敏洪老师顾问的方式工作。俞敏洪老师与孙东旭老师一直保持着良好的沟通。 ...