Core Insights - Oriental Selection participated in the 14th China Intellectual Property Annual Conference, highlighting its efforts in promoting and selling geographical indication products to support rural revitalization and agricultural modernization [1][3] Group 1: Product Offerings - Oriental Selection has launched over 800 self-operated products, with more than half being agricultural products, including several geographical indication products such as Guizhou prickly pear, Luochuan apple, and Lipu taro [3] - The self-operated prickly pear juice has become a hot-selling product, achieving significant sales growth with over 19.3 million bottles sold to date, driven by the rising health consumption trend and product reputation [3] Group 2: E-commerce Strategy - The company leverages e-commerce platforms to overcome regional limitations, enhance brand recognition, and address the challenge of selling products nationwide [3] - Through a strict quality control system, traceability, and immersive e-commerce experiences, Oriental Selection ensures product quality and allows consumers to appreciate the uniqueness of geographical indication products [3] Group 3: Future Plans - Oriental Selection aims to strengthen collaboration with local governments and industry associations to explore new pathways for e-commerce to support the development of geographical indication products, ultimately increasing farmers' income and providing consumers with more quality products [3]

Core Insights - Dongfang Zhenxuan participated in the 14th China Intellectual Property Annual Conference, highlighting its efforts in promoting and selling geographical indication products to support rural revitalization and agricultural modernization [1][4] Group 1: Product Offerings - Dongfang Zhenxuan has launched nearly 800 self-operated products, with over half being agricultural products, including several geographical indication products such as Guizhou prickly pear, Luochuan apple, and Lipu taro [3] - The self-operated prickly pear juice has become a hot-selling product, with cumulative sales exceeding 19.3 million bottles, driven by the growing health consumption trend and positive product reputation [3] Group 2: E-commerce Strategy - The company emphasizes that e-commerce platforms effectively help geographical indication products overcome regional limitations, enhance brand recognition, and address the challenge of selling nationwide [3] - Dongfang Zhenxuan ensures product quality through a strict quality control system, traceability system, and immersive content e-commerce model, providing consumers with a unique shopping experience [3] Group 3: Future Plans - The company plans to strengthen cooperation with local governments and industry associations to explore new pathways for e-commerce to support the development of geographical indication products, aiming to increase farmers' income and provide consumers with more quality products [4]

Core Insights - The article highlights the net inflow and outflow of capital in the Hong Kong stock market, with specific focus on the top companies experiencing significant changes in capital flow [1][2]. Group 1: Net Inflow - Alibaba-W (09988) leads with a net inflow of 5.14 billion, representing a 25.60% increase in capital [2]. - Horizon Robotics-W (09660) follows with a net inflow of 1.375 billion, showing a 24.13% increase [2]. - Tencent Holdings (00700) has a net inflow of 1.076 billion, with an 8.04% increase [2]. - Other notable companies with significant inflows include BYD Company (01211) with 1.031 billion and WuXi Biologics (02269) with 542 million [2]. Group 2: Net Outflow - Pop Mart (09992) experiences the highest net outflow at -649 million, reflecting a -6.94% decrease [2]. - Kuaishou-W (01024) has a net outflow of -581 million, with a -13.67% decrease [2]. - Meitu Inc. (01357) sees a net outflow of -472 million, indicating a -24.59% decrease [2]. - Other companies with significant outflows include Xiaomi Group-W (01810) at -368 million and China Merchants Bank (03968) at -227 million [2]. Group 3: Net Inflow Ratio - The top net inflow ratio is held by Wisdom Hong Kong 100 (02825) at 100.00%, with a total inflow of 5.924 billion [3]. - Sinopec Kantons Holdings (00934) follows with a net inflow ratio of 72.10%, totaling 6.5044 million [3]. - Kunlun Energy (00135) has a net inflow ratio of 63.22%, with an inflow of 5.6388 million [3]. Group 4: Net Outflow Ratio - iFlytek Medical Technology (02506) leads in net outflow ratio at -48.28%, with an outflow of -13.4085 million [3]. - VTECH Holdings (00303) has a net outflow ratio of -45.83%, totaling -15.8089 million [3]. - NetDragon (00777) follows with a net outflow ratio of -45.72%, with an outflow of -41.1797 million [3].

Core Viewpoint - Oriental Selection (01797) has seen a significant decline in stock price, dropping nearly 6% and over 40% from its August peak, indicating market concerns about its business model transition and financial performance [1] Group 1: Financial Performance - Citigroup has revised its revenue forecasts for Oriental Selection for the fiscal years 2025 to 2027 down by 36%, 31%, and 30% respectively, and profit forecasts down by 69%, 30%, and 26% respectively [1] - Goldman Sachs reported that the total gross merchandise volume (GMV) for the second half of the fiscal year ending May fell by 55% year-on-year to 3.9 billion RMB, which was 15% lower than their expectations [1] - Despite the decline in GMV, Oriental Selection managed to control operating expenses, resulting in earnings per share exceeding expectations [1] Group 2: Business Model Transition - Oriental Selection is shifting its business model from relying on leading influencers to a scaled membership platform, with expectations of reaching 264,000 paid members and a monthly repurchase rate of 40% [1] - The gross margin for its proprietary brand is expected to recover from a low of 10% to 24% [1] - The adjusted net profit margin is projected to reach 7% to 8% by 2028, up from the current 4% [1] Group 3: Analyst Ratings - Citigroup maintains a "Buy" rating for Oriental Selection, although it emphasizes that the effectiveness of the transformation needs to be validated over several quarters [1] - Goldman Sachs, citing ongoing weak fundamentals and high valuations, continues to hold a "Sell" rating on the stock [1]

Core Viewpoint - Oriental Selection (01797) has seen a significant decline in stock price, dropping over 40% from its August peak, with a current price of 23.66 HKD and a trading volume of 580 million HKD [1] Group 1: Financial Performance and Forecasts - Citigroup has revised its revenue forecasts for Oriental Selection for the fiscal years 2025 to 2027, lowering them by 36%, 31%, and 30% respectively, and profit forecasts by 69%, 30%, and 26% [1] - The target price for Oriental Selection has been raised from 18.5 HKD to 33 HKD, with expectations of 264,000 paid members and a monthly repurchase rate of 40% [1] - The gross margin for proprietary brands is expected to recover from a low of 10% to 24%, with adjusted net profit margins projected to reach 7% to 8% by 2028, up from the current 4% [1] Group 2: Market Reactions and Analyst Ratings - Goldman Sachs noted mixed performance for Oriental Selection's second half of the fiscal year ending May, with a 55% year-on-year decline in gross merchandise volume (GMV) to 3.9 billion RMB, which was 15% lower than their expectations [1] - Despite controlling operating expenses leading to better-than-expected earnings per share, Goldman Sachs maintains a "sell" rating due to ongoing weak fundamentals and high valuations [1]

Group 1 - The live e-commerce industry is facing significant challenges, including increased competition and rising costs, leading to a transformation in the dynamics of top influencers [1][5] - Oriental Selection experienced a decline in both revenue and net profit in its first fiscal year after the departure of key influencer Dong Yuhui, with total revenue down 32.7% and net profit down 97.5% to only 6.2 million yuan [3] - The company "Yao Wang" reported a 36.32% decrease in revenue and a net loss of 253 million yuan, attributed to various factors including amortization costs and reduced government subsidies [3] Group 2 - "Jiao Ge Peng You" reported a 9.8% increase in revenue from its new media services, but net profit fell by 37.4% to 55.4 million yuan due to rising traffic acquisition costs and increased operational expenses [3][5] - The overall industry is experiencing a dual challenge of expanding scale and intensifying competition, with rising traffic costs and slowing user growth impacting profitability [5] - The departure of key influencers, such as Dong Yuhui and others from Oriental Selection, has further strained the competitive landscape, with significant talent loss affecting brand performance [6][7]

Core Viewpoint - The live-streaming event for the Baiqiao sea bass by Dongfang Zhenxuan achieved impressive sales, generating approximately 6.5 million yuan in a single day, indicating strong market demand and effective marketing strategies [6][8][33]. Group 1: Sales Performance - On September 4, the live-streaming event recorded 65,000 orders, with total sales reaching about 6.5 million yuan [7][33]. - Sales exceeded 2 million yuan within just two hours of the broadcast [24]. Group 2: Industry Background - Baiqiao sea bass is recognized as a national geographical indication product, with the region being a major production area, accounting for over 60% of the national output [30][42]. - The Baiqiao sea bass farming industry covers more than 39,000 acres in the Doumen district, making it the largest sea bass production area in the country [42]. Group 3: Industry Development - The industry has been evolving through a "leading enterprise + base + fishermen" model, which has significantly increased local farmers' incomes [45]. - The local government allocates 4 million yuan annually to support the development of the sea bass industry, enhancing its growth potential [47]. Group 4: Technological Advancements - The introduction of an intelligent automated production line, developed by Gree specifically for the aquaculture industry, has been implemented to improve efficiency [54][56]. - The production line automates processes such as scaling, gutting, and sorting, contributing to a more streamlined operation [58][60]. Group 5: Future Prospects - The establishment of the "Zhuhai Baiqiao Sea Bass Industry Demonstration Park" marks a significant step towards national-level support for the industry [49]. - A new agricultural logistics trading center project, with an investment exceeding 2.6 billion yuan, is set to enhance the region's agricultural product distribution capabilities [63][64].

Core Viewpoint - The "Chen Xiaoge" brand of pigeon products successfully launched on the Oriental Selection live streaming platform, achieving significant sales and market recognition within a short time frame [10][26][28]. Group 1: Sales Performance - The live stream for "Chen Xiaoge" sold out within two hours, with the first 20 minutes seeing it reach the top of the Douyin fresh food rankings [7][10][26]. - The event showcased the strong market appeal of "Xingning Pigeon," indicating a robust consumer interest in the product [8][25]. Group 2: Brand Development - "Xingning Pigeon" has been focusing on brand enhancement, standardization, and the development of a comprehensive industry chain that includes breeding, processing, technology, and marketing [11][12][13]. - The operational entity behind "Chen Xiaoge," Meizhou Jinlv Modern Agricultural Development Co., has evolved into a leading enterprise capable of processing 15 million pigeons annually, contributing to the growth of the Xingning pigeon industry cluster [14][15]. Group 3: Media Influence - The "Media+" initiative is playing a crucial role in the high-quality development of the Guangdong livestock industry, integrating media power into various aspects of industry growth [19][21]. - The use of e-commerce live streaming and short videos allows consumers to gain direct insights into the breeding and processing of pigeons, enhancing trust in product quality [23][24]. Group 4: Market Expansion - The successful launch of "Chen Xiaoge" on a major live streaming platform not only boosts sales but also enhances brand influence, facilitating the expansion of "Xingning Pigeon" into broader markets [28][29].

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 東方甄選控股有限公司 呈交日期: 2025年9月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01797 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | USD | | 0.00002 | USD | | 100,000 | | 增加 / 減少 (-) | | | 0 | | | | USD | | 0 | | 本月底結存 | | | 5,000,000,000 | USD | | 0.00002 | USD | | 100,000 | 本月底法定/ ...

Core Viewpoint - The stock price of Dongfang Zhenxuan has significantly declined due to rumors regarding key personnel changes, highlighting the company's vulnerability to leadership instability and the need for a robust operational model independent of individual figures [1][2][3][4]. Group 1: Stock Performance and Market Reaction - As of September 2, Dongfang Zhenxuan's stock price closed at HKD 25.1 per share, down 3.61%, marking a significant drop from its recent high of HKD 53.7 on August 19, effectively "halving" its value [1]. - The stock experienced a sharp decline of 20.89% in a single day following rumors about CEO Zhou Chenggang being investigated, and further declines were triggered by speculation regarding former CEO Sun Dongxu's departure [1]. Group 2: Leadership Changes and Strategic Shifts - The departure of key figures like Dong Yuhui and Sun Dongxu has raised questions about the company's future, emphasizing the need for a strong supply chain and management structure [2][3][4]. - The company is transitioning from a "host-driven" model to a "product-driven" approach, aiming to establish a sustainable business model that does not rely on individual personalities [2][3]. Group 3: Future Outlook and Management Challenges - Founder Yu Minhong faces the challenge of proving that Dongfang Zhenxuan can thrive without its top executives and that it possesses a solid supply chain and management system [4]. - The broader implication is that many companies are sensitive to leadership changes, and the ability to adapt to such changes is crucial for long-term success [4].