Group 1 - The core point of the article is the confirmation of the departure of Sun Dongxu, the former CEO of Dongfang Zhenxuan, by Yu Minhong, which led to a significant drop in the company's stock price [1] - Following the announcement, Dongfang Zhenxuan's stock (01797.HK) experienced a notable decline, falling over 6% during intraday trading and closing at 20.28 HKD per share, marking a decrease of 5.41% [1] - The stock price reached its lowest level in over three months after the news of the CEO's departure [1]

Core Viewpoint - The departure of Sun Dongxu from Dongfang Zhenxuan marks a significant shift for the company, following the exit of key figures involved in the "small essay" controversy, leading to a decline in stock performance and operational challenges [1][4][10]. Group 1: Leadership Changes - Sun Dongxu has left Dongfang Zhenxuan due to personal reasons, as confirmed by founder Yu Minhong on social media [3][4]. - Following the departure of both Sun Dongxu and Dong Yuhui, the company has faced a leadership vacuum that has affected its operational stability [1][4]. - Yu Minhong has taken over as CEO after Sun Dongxu's exit, indicating a consolidation of leadership amidst ongoing challenges [4][6]. Group 2: Financial Performance - For the fiscal year 2025, Dongfang Zhenxuan reported total revenue of 4.392 billion RMB, a decline of 32.7% from 6.526 billion RMB in the previous year [8][10]. - The net profit for the same period was only 6.191 million RMB, a staggering drop of 97.5% compared to 24.914 million RMB the previous year [8][10]. - Excluding the financial impact of the "Yuhui Together" segment, the total revenue would have been approximately 4.2 billion RMB, reflecting a 30.9% decrease year-over-year [10]. Group 3: Market Position and Future Outlook - Despite the leadership changes and financial struggles, Dongfang Zhenxuan has developed a robust supply chain and a diverse range of self-operated products, which are expected to drive future growth [10]. - The company has launched 488 self-operated products since April 2022, which now account for approximately 43.8% of the total merchandise transaction volume [10]. - As of November 6, Dongfang Zhenxuan ranked fifth in the Douyin (TikTok) live-streaming sales leaderboard, indicating a continued presence in the competitive market [10].

Core Viewpoint - The departure of Sun Dongxu, the former CEO of Oriental Selection, marks a significant turning point for the company, following the earlier exit of Dong Yuhui. This change raises questions about the future direction and leadership of Oriental Selection under founder Yu Minhong's guidance [1][3]. Group 1: Leadership Changes - Sun Dongxu has officially left Oriental Selection due to personal reasons, confirmed by Yu Minhong, who acknowledged Sun's contributions to the company's development [1]. - Sun Dongxu's departure follows a tumultuous period marked by public scrutiny and internal challenges, particularly related to a controversy involving content ownership with Dong Yuhui [7][8]. - Despite leaving his CEO position, Sun Dongxu remains a legal representative and executive in several related companies within the New Oriental Group [1]. Group 2: Company Performance and Structure - As of November 6, Oriental Selection's stock closed at HKD 21.440 per share, with a market capitalization of HKD 22.593 billion, reflecting a slight increase of 0.37% on that day [2]. - Sun Dongxu's total compensation for the fiscal year 2023 amounted to RMB 16.391 million, which included various components such as salary, bonuses, and stock options [5][6]. - The company has undergone significant changes since its inception, transitioning from an education-focused business to a live-streaming e-commerce model, with Sun playing a crucial role in establishing the supply chain and product selection processes [4][8]. Group 3: Future Implications - The departure of Sun Dongxu raises concerns about who will take over the critical supply chain management role, which is vital for the operational efficiency and brand reputation of Oriental Selection [8]. - Yu Minhong's leadership will be tested as he navigates the company through this transition, especially after losing key figures like Sun Dongxu and Dong Yuhui [9].

Core Insights - Dongfang Zhenxuan received the IFOS™ (International Fish Oil Standards) certification from SGS, which is recognized globally as an authoritative certification for fish oil products [1] - The IFOS™ certification involves comprehensive testing of key indicators such as active ingredient content, contaminants, and stability, establishing strict standards for raw materials, product quality, safety, and purity [1] - The self-operated fish oil product from Dongfang Zhenxuan has gained significant consumer recognition, selling over 25,000 boxes on its launch day across all platforms by the end of 2024 [1] - The fish oil is sourced from one of the world's four major fishing grounds, specifically the Peruvian fishing ground, with an Omega-3 purity of 97% [1]

Core Viewpoint - The stock price of Dongfang Zhenxuan (01797.HK) has significantly declined, reaching a three-month low of 20.02 HKD per share, down 6.53% as of November 7 [3] Group 1: Management Changes - On November 6, Yu Minhong confirmed the departure of former CEO Sun Dongxu due to personal reasons, stating that their communication remains good [4] - Sun Dongxu had been with New Oriental Group since 2007 and served as CEO of Dongfang Zhenxuan until his resignation on December 16, 2023 [4] - Following Sun's departure, Yu Minhong will take over as CEO of Dongfang Zhenxuan [4] Group 2: Financial Performance - Dongfang Zhenxuan reported a revenue of 4.392 billion CNY for the fiscal year, a 32.7% decrease from 6.526 billion CNY in the previous year [5] - The net profit from continuing operations was 6.191 million CNY, a significant drop of 97.5% compared to 249 million CNY in the prior year [5] - The revenue decline is attributed to intensified competition in the live e-commerce sector and strategic adjustments within the company [5] - Excluding the financial impact of the sale of Huixing Technology, the net profit from continuing operations increased by 30% to 135.4 million CNY [5]

Core Points - The founder of New Oriental, Yu Minhong, confirmed the departure of Sun Dongxu, the former CEO of Oriental Selection, due to personal reasons [1][2] - Yu Minhong emphasized the significant contributions of Sun Dongxu to the development of Oriental Selection, stating that without his efforts, the company's success would not have been possible [2] - Sun Dongxu's resignation as CEO was officially recorded on December 16, 2023, with his total compensation for the period from June 1, 2023, to December 16, 2023, amounting to 33.603 million yuan, which includes salary, allowances, and benefits [2] Company Background - Oriental Selection was co-founded by Yu Minhong and Sun Dongxu during a critical business transformation period for New Oriental in 2021, focusing on live-streaming e-commerce [2] - Sun Dongxu played a key role in building the supply chain, improving the product selection system, and developing the app for Oriental Selection [2] - Following a controversy in late 2023, Sun Dongxu stepped down from his CEO position but continued to work behind the scenes on product selection, supply chain, and host management [2]

Group 1 - The stock price of Dongfang Zhenxuan (1797.HK) fell over 6%, reaching a low of 20 HKD, marking a new low in over three months, with a total market capitalization of 21.14 billion HKD [1] - Yu Minhong confirmed the departure of former CEO Sun Dongxu, highlighting his significant contributions to the company's development and success [3] - Sun Dongxu was instrumental in the company's transition into the e-commerce live-streaming sector during the K12 "double reduction" policy era, with comments suggesting he played a crucial role in shaping the brand [3]

格隆汇11月7日｜东方甄选(1797.HK)跌超6%，盘中一度失守20港元大关，并且创逾3个月新低价，总市 值211.4亿港元。 K12 "双减"浪潮来临时，孙东旭跟着俞敏洪一块挑战电商领域做直播带货。有评论称，毫不夸张地说， 现在大家熟知的东方甄选，是孙东旭一手带大的「孩子」。 消息上，俞敏洪昨日发文确认，前东方甄选CEO孙东旭离职。俞敏洪在说明中提到："东旭和我，是东 方甄选的创始人。没有东旭的努力和坚忍不拔的奋斗，就不可能有东方甄选的发展和今天。 ...

消息面上，11月6日，俞敏洪在个人社交平台发文确认孙东旭离职。公开资料显示，孙东旭最后一次现 身东方甄选直播间，是在今年4月19日举行的东方甄选西藏专场上。值得注意的是，今年8月份，就有消 息称东方甄选前CEO孙东旭或将离职，东方甄选当时在官方微博发布辟谣称：孙东旭老师在休假中，并 没有离职。 据悉，2023年12月16日，"小作文"事件发酵后，东方甄选发布公告称，经东方甄选董事会决定：董事长 俞敏洪兼任东方甄选CEO职务，免去孙东旭的东方甄选执行董事、CEO职务，即日生效。 东方甄选(01797)现跌超6%，截至发稿，跌5.78%，报20.2港元，成交额1.83亿港元。 ...

据悉，2023年12月16日，"小作文"事件发酵后，东方甄选发布公告称，经东方甄选董事会决定：董事长 俞敏洪兼任东方甄选CEO职务，免去孙东旭的东方甄选执行董事、CEO职务，即日生效。 消息面上，11月6日，俞敏洪在个人社交平台发文确认孙东旭离职。公开资料显示，孙东旭最后一次现 身东方甄选直播间，是在今年4月19日举行的东方甄选西藏专场上。值得注意的是，今年8月份，就有消 息称东方甄选前CEO孙东旭或将离职，东方甄选当时在官方微博发布辟谣称：孙东旭老师在休假中，并 没有离职。 智通财经APP获悉，东方甄选(01797)现跌超6%，截至发稿，跌5.78%，报20.2港元，成交额1.83亿港 元。 ...