Core Viewpoint - Oriental Selection (1797.HK) experienced a significant stock price increase of 10.68%, closing at HKD 31.7, marking the highest level since August of the previous year [1] Financial Performance - For the period ending November 25, 2025, the company reported total revenue of RMB 2.3 billion, representing a year-on-year growth of 5.7%, slightly below expectations [1] - Gross profit reached RMB 841.6 million, showing a year-on-year increase of 14.5% [1] - The profit attributable to shareholders was RMB 239 million, indicating a turnaround from losses to profitability [1] Analyst Insights - Daiwa upgraded its outlook on the company post-earnings report, suggesting that operational challenges have been overcome, supported by the growth of proprietary brands, structural reduction in operating costs, and the opening of non-Douyin channels [1] - CICC raised its revenue forecasts for fiscal years 2026 and 2027 by 3.1% and 4.8%, respectively, to RMB 5.19 billion and RMB 5.9 billion, citing enhanced management capabilities and operational efficiency [1] - CICC also increased its adjusted net profit forecasts for 2026 and 2027 by 80.2% and 32.1%, respectively, to RMB 437 million and RMB 410 million, and raised the target price by 25% to HKD 30, maintaining an "outperform" rating [1]

东方甄选(1797.HK)尾盘拉升大涨，最终收涨10.68%，报31.7港元，股价创去年8月底以来新高。 东方甄选近期发布截至25年11月底的中期业绩，期内实现总营收23亿元，同比增长5.7%，略低于预 期；毛利达8.416亿元，同比增长14.5%；公司拥有人应占溢利2.39亿元，同比扭亏为盈。 大和发布研报称，集团公布业绩后，对其看法转向更为积极，认为在营运上已度过难关，随着其自有品 牌发展良好、营运成本结构性降低，及非抖音渠道的开通，为业绩增长提供了重要选择，相信该股票的 风险回报状况已得到改善。 中金近日也发表报告指，由于管理团队实力增强及营运能力提升，该行将2026及2027财年营收预测分别 上调3.1%及4.8%至51.9亿元及59亿元。基于毛利率提升与营运效率改善，该行将东方甄选2026及2027财 年经调整应占净利润预测分别上调80.2%及32.1%至4.37亿元及4.1亿元。由于盈利增长预期更为乐观， 该行将其目标价上调25%至30港元，维持"跑赢行业"评级。 ...

本文源自：金融界AI电报 东方甄选(01797.HK)午后涨超10%。 ...

每经AI快讯，东方甄选(01797.HK)午后涨超5%，截至发稿涨5.1%，报30.1港元，成交额6.56亿港元。 ...

Core Viewpoint - Oriental Selection (01797) has seen a significant stock price increase of over 6% in the afternoon, with a cumulative rise of nearly 40% following the release of its interim results for the period ending November 25, 2025 [1] Financial Performance - The company reported total revenue of 2.3 billion yuan, representing a year-on-year growth of 5.7% [1] - Profit attributable to owners reached 239 million yuan, marking a turnaround from a loss to profit [1] - Gross profit for the period was 841.6 million yuan, reflecting a year-on-year increase of 14.5% [1] Strategic Initiatives - The company is actively pursuing a multi-live room and multi-anchor strategy, which is expected to enhance its operational performance [1] - There is a continuous development of high-margin self-operated products, contributing to improved gross margins [1] - The company possesses a content advantage in the GEO marketing environment, which is anticipated to support further growth [1] Analyst Sentiment - Shenwan Hongyuan has expressed a positive outlook on the company, indicating that it has overcome operational challenges [1] - Daiwa has upgraded its view on the company post-earnings, highlighting the successful development of its own brand and a structural reduction in operating costs [1] - The opening of non-Douyin channels is seen as a significant opportunity for revenue growth, improving the risk-return profile of the stock [1]

Core Viewpoint - Oriental Selection (01797) has seen a significant stock price increase of over 6% in the afternoon, with a cumulative rise of nearly 40% following the release of its interim results for the period ending November 25, 2025 [1] Financial Performance - The company reported total revenue of 2.3 billion yuan, representing a year-on-year growth of 5.7% [1] - Profit attributable to owners reached 239 million yuan, marking a turnaround from a loss to profit [1] - Gross profit for the period was 841.6 million yuan, reflecting a year-on-year increase of 14.5% [1] Strategic Initiatives - The company is actively promoting a multi-live room and multi-anchor strategy, which is expected to enhance its operational performance [1] - There is a continuous development of high-margin self-operated products, contributing to improved gross margins [1] - The company possesses content advantages in the GEO marketing environment, which is anticipated to support further growth [1] Analyst Sentiment - Shenwan Hongyuan has a positive outlook on the company, noting that it has overcome operational challenges [1] - Daiwa has upgraded its view on the company post-earnings, highlighting the successful development of its own brand and structural reduction in operating costs [1] - The opening of non-Douyin channels is seen as a significant opportunity for revenue growth, improving the risk-return profile of the stock [1]

转自：中国质量报 本报讯 （记者徐雅臣）日前，东方甄选发布的2026财年中期业绩报告显示，2025年6月1日至11月30 日，该公司实现总营收23亿元，同比增长5.7%；若剔除上财年同期部分收入影响，实际增幅达17%。期 内净溢利为2.39亿元，毛利达8.416亿元，同比增长14.5%。 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 位提升企业的品牌影响力。 关于产品质量和服务质量，东方甄选相关负责人表示，质量是生命线，东方甄选始终坚持高标准的选品 原则，严格把控每一件商品的质量关。无论是自营产品还是合作品牌的商品，都将进一步提高质量检验 与控制的强度。东方甄选在财报中还公布了新的改进措施。东方甄选计划建立每两周/每月的质量检验 报告机制，内容涵盖抽检合格率、问题产品整改措施等。同时，通过App社区调研、用户访谈等方式精 准收集需求，推动产品优化。 尹强表示，今后，该公司将持续优化仓储网络布局，提升配送效率与客户体验。继续聚焦全品类产品与 会员体系优化，通过供应链整合与AI应用技术赋能，为用户打造更优质、更便捷的购物体验。 财报披露，报告期内东方甄选自营产品及直播 ...

Group 1 - The core viewpoint of the article is that Dongfang Zhenxuan (01797) reported a 5.7% year-on-year increase in total revenue for the first half of the 2026 fiscal year, reaching 2.31 billion RMB, which is slightly below expectations [1] - The adjusted net profit reached 258 million RMB, exceeding expectations by 68% [1] - Due to the strengthened management team and improved operational capabilities, revenue forecasts for fiscal years 2026 and 2027 have been raised by 3.1% and 4.8% to 5.19 billion RMB and 5.9 billion RMB, respectively [1] Group 2 - The adjusted net profit forecasts for fiscal years 2026 and 2027 have been increased by 80.2% and 32.1% to 437 million RMB and 410 million RMB, respectively, based on improved gross margins and operational efficiency [1] - The target price has been raised by 25% to 30 HKD due to more optimistic profit growth expectations [1] - The company maintains an outperform rating in the industry [1]

智通财经APP获悉，中金发布研报称，东方甄选(01797)公布2026财年上半财年业绩，总收入同比增长 5.7%至23.1亿元人民币(下同)，略低于预期。经调整净利润达2.58亿元，胜预期68%。由于管理团队实 力增强及营运能力提升，该行将2026及2027财年营收预测分别上调3.1%及4.8%至51.9亿元及59亿元。基 于毛利率提升与营运效率改善，该行将东方甄选2026及2027财年经调整应占净利润预测分别上调80.2% 及32.1%至4.37亿元及4.1亿元。由于盈利增长预期更为乐观，将目标价上调25%至30港元。维持跑赢行 业评级。 ...

研究员：赵丽萍 1HFY26 收入略低于我们预期，经调整净利润大幅超出我们预期东方甄选公布1HFY26 业绩：总营收同 比增长5.7%至23.1 亿元，略低于我们预期，经调整净利润达2.58 亿元，超出我们预期68%，主要得益于 运营效率的改善。 发展趋势 实现韧性增长。1HFY26 总收入达23.1 亿元，同比增长5.7%；若剔除与辉同行直播间产生的收入，同比 增长17.0%。品牌影响力逐渐彰显。自营产品GMV 占总GMV 比例提升至52.8%，同比提升15.8ppt； SKU 数量由1HFY25 的600 款增至801 款。公司管理团队得到进一步加强。孙进于2025 年12 月出任东方 甄选执行总裁，其负责日常管理及落实战略部署。 多平台、多渠道全面发力。线上渠道方面，公司持续巩固抖音主阵地，加强矩阵号建设；同时加速自有 APP 发展，期内APPGMV 贡献占比达18.5%，同比提升4.9ppt；截至2025 年11 月30 日，APP 会员数达 24.0 万人。展望未来，管理层于业绩会表示，公司将加强与新东方集团的协同合作，促进会员转化。线 下渠道探索方面，公司依托新东方学习中心网络，已布局40 余台自 ...