Market Overview - On September 18, the Hang Seng Index fell by 1.35%, with southbound trading totaling HKD 210.55 billion, comprising HKD 108.42 billion in buying and HKD 102.13 billion in selling, resulting in a net buying amount of HKD 6.28 billion [1] Southbound Trading Details - Southbound trading through the Shenzhen Stock Connect had a total trading amount of HKD 76.78 billion, with buying at HKD 40.58 billion and selling at HKD 36.20 billion, leading to a net buying of HKD 4.38 billion [1] - The Shanghai Stock Connect recorded a total trading amount of HKD 133.77 billion, with buying at HKD 67.84 billion and selling at HKD 65.93 billion, resulting in a net buying of HKD 1.84 billion [1] Active Stocks - The most actively traded stock by southbound funds was Alibaba-W, with a total trading amount of HKD 210.72 billion, followed by SMIC and Tencent Holdings with HKD 140.50 billion and HKD 91.65 billion respectively [1] - In terms of net buying, Meituan-W led with a net buying amount of HKD 14.12 billion, followed by Alibaba-W with HKD 12.10 billion and Pop Mart with HKD 12.07 billion [1] - The stock with the highest net selling was Hua Hong Semiconductor, with a net selling amount of HKD 11.65 billion, while Tencent Holdings and SMIC had net selling amounts of HKD 4.18 billion and HKD 2.77 billion respectively [1] Continuous Net Buying - Two stocks, Alibaba-W and Meituan-W, have seen continuous net buying for over three days, with Alibaba-W having a total net buying of HKD 561.01 billion over 20 days and Meituan-W with HKD 49.01 billion over 4 days [2]

Core Insights - On September 18, 2025, Alibaba-W (09988), SMIC (00981), and Tencent Holdings (00700) were the top three companies by trading volume in the southbound trading of the Stock Connect, with trading amounts of 13.163 billion, 9.044 billion, and 5.634 billion respectively [1][2] - Alibaba-W (09988), SMIC (00981), and Tencent Holdings (00700) also led the trading volume in the southbound trading of the Shenzhen-Hong Kong Stock Connect, with trading amounts of 7.909 billion, 5.005 billion, and 3.531 billion respectively [1][2] Southbound Trading Highlights - **Top Active Companies in Southbound Trading (Hong Kong Stock Connect)** - Alibaba-W (09988): Trading amount of 13.163 billion, net buying of 0.315 billion [2] - SMIC (00981): Trading amount of 9.044 billion, net selling of 0.395 billion [2] - Tencent Holdings (00700): Trading amount of 5.634 billion, net selling of 0.940 billion [2] - Meituan-W (03690): Trading amount of 4.440 billion, net buying of 0.568 billion [2] - Xiaomi Group-W (01810): Trading amount of 3.518 billion, net buying of 0.280 billion [2] - **Top Active Companies in Southbound Trading (Shenzhen-Hong Kong Stock Connect)** - Alibaba-W (09988): Trading amount of 7.909 billion, net buying of 0.895 billion [2] - SMIC (00981): Trading amount of 5.005 billion, net buying of 0.117 billion [2] - Tencent Holdings (00700): Trading amount of 3.531 billion, net buying of 0.522 billion [2] - Meituan-W (03690): Trading amount of 2.495 billion, net buying of 0.844 billion [2] - Xiaomi Group-W (01810): Trading amount of 2.236 billion, net buying of 0.381 billion [2]

Core Viewpoint - Oriental Selection (01797) has seen a significant stock price increase of over 16% in the afternoon session, with a cumulative rise of over 25% in the past two trading days, following a substantial decline of over 50% after reaching a new high on August 19 [1] Financial Performance - As of the latest report, the stock price is up 15.73%, trading at HKD 26.78, with a trading volume of HKD 22.64 billion and a TTM price-to-earnings ratio of 4436 [1] Analyst Insights - Citigroup's recent research report indicates a shift in Oriental Selection's business model from "relying on leading hosts" to a "scaled membership platform," leading to a downward revision of revenue forecasts for the fiscal years 2025 to 2027 by 36%, 31%, and 30% respectively [1] - Profit forecasts have also been adjusted downwards by 69%, 30%, and 26% for the same periods [1] - The target price has been raised from HKD 18.5 to HKD 33, with expectations of 264,000 paying members and a monthly repurchase rate of 40% [1] Profitability Expectations - The gross margin for proprietary brands is expected to recover from a low of 10% to 24% [1] - Adjusted net profit margin is projected to reach 7% to 8% by 2028, compared to the current 4% [1] - The "buy" rating is maintained, but the effectiveness of the transformation will need to be validated over several quarters [1]

Core Viewpoint - Oriental Selection (01797) has seen a significant stock price increase of over 16% in the afternoon, with a cumulative rise of over 25% in the past two trading days, following a sharp decline of over 50% after reaching a new high on August 19 [1] Financial Performance - As of the latest report, the stock price is at 26.78 HKD, with a trading volume of 2.264 billion HKD and a TTM price-to-earnings ratio of 4436 [1] Analyst Insights - Citigroup's recent research report indicates a shift in Oriental Selection's business model from "relying on leading hosts" to a "scaled membership platform," leading to a downward revision of revenue forecasts for fiscal years 2025 to 2027 by 36%, 31%, and 30% respectively [1] - Profit forecasts have also been adjusted downwards by 69%, 30%, and 26% for the same periods [1] - The target price has been raised from 18.5 HKD to 33 HKD, with expectations of 264,000 paying members and a monthly repurchase rate of 40% [1] Profitability Expectations - The gross margin for proprietary brands is expected to recover from a low of 10% to 24% [1] - Adjusted net profit margin is projected to reach 7% to 8% by 2028, compared to the current 4% [1] - The "buy" rating is maintained, but the effectiveness of the transformation will need to be validated over several quarters [1]

格隆汇9月18日｜此前持续回调的东方甄选(1797.HK)今日盘中不断拉升，大涨超16%报27港元，为连续 第二日反弹，截至目前成交额放大至超20亿港元。 ...

Group 1 - The stock of Dongfang Zhenxuan in Hong Kong saw a significant increase, rising over 14% in the afternoon session on September 18 [1] - The previous trading day recorded a rise of 9.56% for the same stock [1]

Group 1 - The stock of Dongfang Zhenxuan surged by 16% in a single day [1] - The trading volume reached nearly 2 billion Hong Kong dollars [1]

Group 1 - The stock price of Dongfang Zhenxuan has risen for two consecutive days, increasing by over 10% [2] - The trading volume exceeded 1.1 billion Hong Kong dollars [2]

東方甄選控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1797） 謹訂於2025年11月3日（星期一）上午十時正舉行之 股東週年大會適用之代表委任表格 （附註1） | （附註1） 本人╱吾等 | （姓名） | | --- | --- | | 地址為 | （地址） | | 為東方甄選控股有限公司（「本公司」）股本中 | （附註2） 股 每股面值0.00002美元 | | （附註3） 之普通股之登記持有人，茲委任大會主席 或 | （姓名） | | 地址為 | （地址） | 為本人╱吾等之代表，代表本人╱吾等就如下所示決議案出席本公司謹訂於2025年11月3日（星期 一）上午十時正假座本公司於北京的總部中國北京市海淀區海淀東三街2號南樓18層舉行之股東週年 大會（「股東週年大會」）（及其任何續會）。 | | 普通決議案* | （附註4） 贊成 | （附註4） 反對 | | --- | --- | --- | --- | | 1. | 省覽及考慮截至2025年5月31日止財政年度本公司之經審核綜 | | | | | 合財務報表及本公司董事（「董事」）會報告與本公司核數師報 | | | | | 告。 | ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本通告的內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示，概不對因本通告全部或任何部份內容而產生或因倚賴該等內容而引致的任 何損失承擔任何責任。 EAST BUY HOLDING LIMITED 東方甄選控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1797） 股東週年大會通告 茲通告東方甄選控股有限公司（「本公司」）謹訂於2025年11月3日（星期一）上午 十時正假座本公司於北京的總部中國北京市海淀區海淀東三街2號南樓18層舉行股東週 年大會（「股東週年大會」），以討論下列事項： 普通決議案 「動議： (a) 在下文(c)段之規限下，一般及無條件批准董事（可由任何一名執行董 事代其行使）於有關期間（定義見下文(d)項）行使本公司一切權力， 以配發、發行及處置本公司法定及未發行股份（包括從庫存中出售或 轉讓持作庫存股份的任何股份，具有香港聯合交易所有限公司證券上 市規則賦予該詞的涵義）（「股份」）或本公司股本中可轉換為股份之證 券，及作出或授予可能須行使該等權力之建議、協議及購股權； – 1 – 1. 省覽截至2025年5月31日止 ...