Core Viewpoint - There are rumors regarding the CEO of New Oriental Group, Yu Minhong's long-time partner, Zhou Chenggang, being investigated by regulatory authorities for allegedly misappropriating company interests through related-party transactions, although the company has labeled this as "pure rumors" [1] Company Performance - Oriental Selection is set to release its full-year results for the fiscal year ending May 31, 2025, on August 22 [1] - For the fourth quarter of fiscal year 2025, Oriental Selection reported revenues of $150 million, representing a year-on-year decline of approximately 30%, although the decline rate has narrowed quarter-on-quarter [1] - The Non-GAAP operating profit was approximately 79 million RMB, with an operating profit margin of about 7%, showing a quarter-on-quarter improvement [1] - The company has shown continuous improvement in profitability despite challenges such as the departure of key hosts and the separation from Hui Tongxing [1] Industry Insights - Guosen Securities highlighted the "Sam's paradigm" in the current consumer market, which is characterized by diversified supply, transparent information, and rational demand [1] - Companies that can offer high-cost performance products and have a mature membership system, such as Sam's Club, Haidilao, and Oriental Selection, are expected to have enhanced advantages in this market context [1] - Recent operational improvements at Oriental Selection, including successful expansion into new product categories and enhanced quality of self-operated business growth, are seen as evidence of the growth logic for such companies [1]

Core Viewpoint - The stock price of Oriental Selection dropped significantly on August 19 due to rumors regarding the CEO of New Oriental, Zhou Chenggang, being investigated for alleged related-party transactions that could harm the interests of the listed company [1] Group 1 - Oriental Selection responded to the rumors, stating that the claims about Zhou Chenggang being under investigation are false [1] - Zhou Chenggang is known as a long-time partner of Yu Minhong, the founder of New Oriental [1]

Core Viewpoint - On August 19, Oriental Selection's stock experienced significant volatility, initially rising over 23% before closing down 20.89% at HKD 34.32 per share, with a trading volume exceeding HKD 9.3 billion and a market capitalization of approximately HKD 36 billion [1][2]. Group 1: Stock Performance and Market Reactions - The stock price of Oriental Selection saw a cumulative increase of 266% from July to August 18, 2023, but faced a sharp decline on August 19 due to profit-taking by short-term investors [4]. - Analysts noted signs of capital absorption at lower price levels during the sell-off, indicating potential interest from investors despite the volatility [3][4]. - The stock has experienced significant fluctuations in recent years, with a peak increase of over 14 times from June 8, 2022, to February 3, 2023, followed by an 81.37% decline from February 3, 2023, to June 30, 2025 [4]. Group 2: Business Model and Growth Prospects - Oriental Selection's self-operated products have shown strong performance, with an estimated GMV of RMB 870 million in June 2023, a year-on-year increase of 28%, and self-operated product GMV reaching RMB 350 million, up 15% year-on-year [6]. - The company is expected to achieve a self-operated product sales ratio of 39% by June 2025, with 60% of these sales coming from shelf e-commerce channels, indicating a shift away from reliance on live-streaming traffic [6]. - Recent product launches, such as a self-operated brand of sanitary napkins, have been successful, selling 180,000 units within two days of release [6]. - Analysts believe that the improvement in GMV and the growth in paid membership numbers will lead to a more favorable profit structure for Oriental Selection [6]. Group 3: Market Sentiment and Future Outlook - The recent stock surge is attributed to improvements in the company's business model and the overall bullish trend in the Hong Kong new consumption sector [7]. - Despite the positive developments, experts caution that Oriental Selection currently lacks a distinct competitive advantage or "moat" in the market [7].

Group 1 - The stock price of Dongfang Zhenxuan experienced significant volatility, initially surging over 23% in the morning before plummeting to a 20.89% decline by the end of the day [2] - There are reports suggesting that New Oriental's CEO, Zhou Chenggang, may be under investigation by regulatory authorities for potential related-party transactions [2] - Dongfang Zhenxuan has responded to these allegations, stating that they are purely rumors [2]

东方甄选发布微博称，针对谣言，已启动报警和司法流程，对于这样的不法行为，我们将一追到底。 （文章来源：第一财经） ...

8月19日，东方甄选官方发布微博表示：针对谣言，我司已启动报警和司法流程，对于这样的不法行 为，我们将一追到底。 关于周成刚老师的传闻纯属谣言,关于" 东方甄选佣金率长期超30%"的说法严重失 实,东方甄选售卖产品确保高品质和高性价 比,实际平均佣金率不到20%。 辟谣声明 今天,有人造谣如下: 新东方集团CEO周成刚(俞敏洪长期搭档) 涉嫌通过关联交易侵占上市公司利益,已被 监管部门立案调查。此消息尚未被正式公 告,但引发投资者恐慌性基 :08 公司尚未发布澄清 直播业务监管风险 = 发布 《直播带货合规指引 (征求意见稿)》,拟 限制"高佣金抽成模式",而东方甄选佣金率 长期超30%,若政策落地将直接影响其核心 盈利模式。 我方辟谣声明: 针对上述谣言,我司已启动报警和司法流 程,对于这样的不法行为,我们将一追到底。 东方甄选 2025年8月19日 上智言: dongiangzhenxua 有市场传闻称，新东方集团CEO、俞敏洪长期搭档周成刚涉嫌通过关联交易侵占上市公司利益，已被监 管部门立案调查，此消息尚未被正式公告。 相关传言让东方甄选股价尾盘跳水。截至8月19日港股收盘，东方甄选（1797.HK）港 ...

每经AI快讯，今日东方甄选股价上演"天地板"，早盘一度暴涨逾23%，午后高台跳水，盘后跌20.89%。 有消息称新东方CEO周成刚或涉关联交易被监管部门立案调查。东方甄选方面向记者回应称：纯属谣 言。（第一财经） （文章来源：每日经济新闻） ...

Group 1 - Market rumors suggest that Zhou Chenggang, CEO Yu Minhong's long-time partner at New Oriental Group, is under investigation for allegedly misappropriating company interests through related party transactions, although the company has labeled this as "pure rumor" [1] - Oriental Selection is set to release its full-year results for the fiscal year ending May 31, 2025, on August 22, with the fourth quarter revenue for fiscal year 2025 estimated at $150 million, representing a year-on-year decline of approximately 30%, although the decline has narrowed quarter-on-quarter [1] - Non-GAAP operating profit for the same quarter is projected to be approximately 79 million RMB, with an operating profit margin of about 7%, showing a quarter-on-quarter improvement [1] Group 2 - Guosen Securities highlights the "Sam's Club paradigm" in the current consumer market, which is characterized by diversified supply, transparent information, and rational demand, suggesting that companies offering high-cost performance products with mature membership systems, like Oriental Selection, will have a competitive advantage [1] - Recent operational improvements at Oriental Selection include successful expansion into new product categories and enhanced quality of self-operated business growth, indicating a marginal improvement in operations [1] - The ongoing transition from a host-driven model to a product-driven model is recommended for attention, as it reflects the growth logic of companies in this sector [1]

截至8月19日港股收盘，东方甄选（1797.HK）港股报收34.32港元，跌20.89%，此前一度上探至近两年 高位53.7港元，涨幅超23.5%。 一则涉及新东方教育科技集团CEO周成刚相关传言让东方甄选股价尾盘跳水。 东方甄选相关负责人也对智通财经记者表示：纯属谣言。 8月19日，智通财经记者获悉，东方甄选投资关系总监在微信群内对此传言表示："辟谣，没有这样的事 情，我们还在年报静默期，感谢大家的支持！" ...

其他蓝筹股方面，中升控股(00881)涨8.29%，报15.42港元，贡献恒指1.25点；翰森制药(03692)涨 4.75%，报38.82港元，贡献恒指3.35点；中国生物制药(01177)跌6.57%，报7.39港元，拖累恒指8.44点； 比亚迪（002594）电子(00285)跌4.67%，报37.54港元，拖累恒指2.23点。 热门板块方面 盘面上，大型科技股涨跌不一，腾讯涨0.94%，快手涨0.41%，阿里巴巴则跌0.25%。AI应用方向今日逆 市走高，粉笔涨近14%，汇量科技涨超13%；个别机器人概念股表现强势，德昌电机控股涨超10%；体 育用品、物管股、博彩股等普遍向好。另一边，医药股表现分化，歌礼制药折价配股，股价重挫15%； 芯片股、黄金股、苹果概念股等普遍飘绿。 1.AI应用方向多数走强。截至收盘，知乎-W(02390)涨23%，报14.33港元；粉笔(02469)涨13.98%，报 3.67港元；汇量科技(01860)涨13.09%，报15.9港元；迈富时(02556)涨7.92%，报59.95港元。 8月19日，《上海市加快推动"AI+制造"发展的实施方案》正式出台。其中提出，实施"模 ...