Core Viewpoint - The appointment of Sun Jin as the new CEO of Dongfang Zhenxuan is a strategic move by Yu Minhong to stabilize the company amid recent turmoil and declining performance [4][6][7]. Group 1: Leadership Changes - Sun Jin, a long-time employee of New Oriental, has been appointed as the new CEO of Dongfang Zhenxuan, succeeding Sun Dongxu, who was dismissed amid controversy [4][6]. - The leadership transition comes after significant upheaval within the company, including the departure of key figures like Dong Yuhui and Sun Dongxu, which has raised concerns about the company's direction [6][7]. Group 2: Company Performance - Dongfang Zhenxuan reported a revenue of 4.392 billion yuan for the fiscal year ending May 31, 2025, representing a 32.7% decline year-on-year [7]. - The net profit from continuing operations was only 6.191 million yuan, a staggering 97.5% decrease compared to the previous year, highlighting the company's financial struggles [7]. Group 3: Strategic Direction - Sun Jin's appointment reflects Yu Minhong's preference for promoting from within, as he has been with New Oriental for 19 years, starting as an English teacher and progressing through various roles [8][10]. - The company is exploring new growth avenues, as evidenced by the recent opening of its first offline flagship store in Beijing, signaling a shift towards diversifying its business model [13]. Group 4: Management Philosophy - Yu Minhong emphasizes a management philosophy that prioritizes internal talent development, selecting leaders from the ranks of long-serving employees who understand the company's culture [10][11]. - This approach has been consistent with the company's history, as both Sun Dongxu and Dong Yuhui also rose through the ranks, indicating a strong internal promotion culture [10][11].

Group 1 - The Ministry of Commerce has released the "Encouraged Foreign Investment Industry Catalog (2025 Edition)", which outlines four main preferential policies for industries within the catalog [2] - The first policy allows for the exemption of import tariffs on self-used equipment within the total investment amount, except for products specifically excluded by national regulations [2] - The second policy prioritizes land supply for encouraged industrial projects that use land intensively, allowing for a minimum transfer price of 70% of the national standard for industrial land in the corresponding area [2] - The third policy offers a reduced corporate income tax rate of 15% for investments in the western regions and Hainan Province [2] - The fourth policy provides tax credit benefits for foreign investors who reinvest profits distributed by domestic enterprises in industries listed in the "Encouraged Catalog" [2] Group 2 - The People's Bank of China and eight other departments have jointly issued opinions to support the accelerated construction of the Western Land-Sea New Corridor, proposing 21 key measures to enhance financial support [2] - These measures include improving financial organization collaboration, building a high-quality capital circulation system, and deepening cross-provincial and cross-border financial regulatory cooperation [2] - The goal is to leverage financial services to support the high-quality development of the Western Land-Sea New Corridor, creating a new pattern of opening up that integrates land and sea, and promotes mutual assistance between the east and west [2] Group 3 - China National Offshore Oil Corporation announced the discovery of the Qinhuangdao 29-6 oil field in the Bohai Sea, marking the seventh billion-ton oil field discovered since 2019 [3] - This discovery is significant for enhancing China's offshore oil and gas resource reserves and ensuring national energy security [3] Group 4 - Jiangxi Province has issued an "Artificial Intelligence+" action plan to boost research and production of sensors in fields such as embodied intelligence and consumer electronics [4] - The plan aims to accelerate innovation in products related to smart wearables and virtual reality, and to support enterprises in developing optical communication, display, and audio-video modules [4] Group 5 - Sanofi has announced an agreement to acquire Dynavax Technologies Corporation for approximately $2.2 billion, with a cash offer of $15.50 per share [12] - The acquisition includes Dynavax's marketed adult hepatitis B vaccine and differentiated candidate shingles vaccine, with the transaction expected to be completed in the first quarter of 2026 [12] Group 6 - Samsung and SK Hynix have raised the prices of HBM3E memory chips by nearly 20% for the upcoming year, a rare occurrence as suppliers typically lower prices before launching new generations [11] - The South Korean government plans to invest 700 billion KRW (approximately $478 million) in 2024 to support AI transformation projects in the manufacturing sector [11]

Group 1 - The core point of the news is that Dongfang Zhenxuan is set to appoint a new CEO, Sun Jin, who has 19 years of experience in the education sector, replacing Yu Minhong who has been in the role for two years [2][3] - Sun Jin is currently the Vice President of New Oriental Education Technology Group and has held various positions within the organization since joining in 2006 [3] - The company confirmed the news of Sun Jin's appointment but has not yet released an official announcement [2][3] Group 2 - In terms of performance, Dongfang Zhenxuan reported a revenue of 4.392 billion yuan for the fiscal year 2025, a significant decline of 32.69% year-on-year, with a net profit of only 573.50 million yuan, down 99.67% [10] - The company experienced a substantial drop in employee numbers, with a reduction of approximately 40% over two years, from 1,403 employees in fiscal year 2023 to 845 in fiscal year 2025 [10][15] - The decline in revenue and profit is attributed to the sale of a significant business segment, which led to a 39.16% drop in GMV, with over 80% of this decline linked to the divestiture [10][11] Group 3 - The previous CEO, Sun Dongxu, was removed from his position due to mishandling a dispute related to content creation, which drew public criticism [4][5] - Yu Minhong, who took over as CEO after Sun Dongxu, has faced scrutiny and criticism regarding his management and communication style, particularly following a controversial internal letter [12][13] - The company has seen a net reduction of 564 employees over two years, with a notable decrease in younger employees under 30, which dropped by approximately 36% [14][15]

Core Insights - The appointment of Sun Jin as the new CEO of Dongfang Zhenxuan marks a significant leadership change as the company faces performance challenges and seeks sustainable growth strategies [2][3][4] - Dongfang Zhenxuan's financial performance has declined, with total revenue for the fiscal year 2025 at 4.4 billion RMB, a decrease of 32.7% from the previous year, and GMV dropping by 39.2% to 8.7 billion RMB [2][10] - The company is shifting its strategic focus towards self-operated products and offline retail expansion to reduce reliance on top streamers and enhance long-term growth potential [6][8][9] Leadership Transition - Sun Jin, a long-time employee of New Oriental, has been appointed as the CEO, succeeding Sun Dongxu, who was removed following internal management issues [3][4] - The leadership change comes after the departure of key figures who contributed to the company's previous success, raising expectations for stability and strategic execution under Sun Jin's guidance [3][5] Financial Performance - Dongfang Zhenxuan's fiscal year 2025 report indicates a significant drop in both revenue and GMV, highlighting the urgent need for a turnaround strategy [2][10] - The company has launched 732 self-operated products, increasing the proportion of self-operated products in total GMV to 43.8%, indicating a shift in business strategy [9][11] Strategic Focus - The company is exploring two main growth avenues: expanding into offline retail and enhancing its self-operated product offerings [6][8] - Dongfang Zhenxuan is actively recruiting for a flagship store manager with extensive retail experience, signaling a commitment to establishing a physical retail presence [7] Product Development - The strategic pivot towards self-operated products aims to build brand trust and reduce dependency on individual streamers, with a focus on quality control and customer service [9][11] - The company has seen growth in its independent app, with GMV from the app rising to 15.7% of total sales and paid membership numbers exceeding 260,000 [10][11]

Group 1 - The core viewpoint of the article highlights the challenges faced by Yu Minhong in maintaining his image as an idealistic and good boss, especially after the departure of key employees and the backlash from a public letter he sent from Antarctica [1][2][4] - Yu Minhong's public letter intended to convey long-term values and encouragement to employees but resulted in widespread negative feedback, as employees felt he was disconnected from their struggles [2][4] - The backlash included complaints about delayed performance bonuses, increased work intensity, and unresponsive internal feedback channels, leading to a perception of Yu Minhong as a "two-faced" leader [4][5][6] Group 2 - Despite the challenges in leadership perception, the financial performance of New Oriental remains strong, with a projected revenue of $4.9 billion for the 2025 fiscal year, reflecting a 13.6% year-on-year growth [7] - The number of students in preparatory courses increased from 1.05 million in 2024 to 1.1 million in 2025, while non-academic tutoring students rose from 2.4 million to 2.8 million [7] - The departure of key figures like Dong Yuhui has significantly impacted the performance of Oriental Selection, with a revenue drop of 32.7% to 4.392 billion yuan in the 2025 fiscal year [10][12] Group 3 - Yu Minhong's desire to maintain a "good person" image has led to poor decision-making, particularly during the Dong Yuhui incident, which escalated into a public power struggle [9][12] - The strategic direction of Oriental Selection is shifting towards a more substantial retail presence, with plans for offline flagship stores and an increase in self-operated products, which now account for 43.8% of total GMV [16][17] - The appointment of a new CEO from within New Oriental indicates a continued effort to integrate the educational and retail aspects of the business, aiming for a more cohesive strategy moving forward [16][17]

南极归来的俞敏洪，终于为东方甄选敲定了新总裁。 而接过重任的孙进，此前鲜少走入公众视野。在东方甄选屡陷舆论风波后，俞敏洪为何选择这位低调 的"小孙"接棒？ 事实上，从孙东旭、董宇辉，再到孙进，俞敏洪的选人逻辑或许从未改变。 公开信息显示，孙进于2006年加入新东方，是新东方19年"老将"。其从一线英语教师起步，2008年获评 上海新东方优秀教师、新东方教育科技集团优秀教师。此后，孙进逐步完成教学、教研到管理的成长路 径，历任南京学校常务副校长、校长等关键岗位，最终晋升为集团副总裁。 孙进的职业履历反映了俞敏洪的核心用人偏好。 12月24日，一则人事任命传开，新东方教育科技集团副总裁、广州学校校长孙进将担任东方甄选 （01797.HK）执行总裁。时代财经就此事求证东方甄选，相关人士回应称"消息属实"。另有报道指 出，东方甄选方面确认俞敏洪已敲定东方甄选接班人即孙进。 这个年末，新东方可谓不平静。 11月16日，一封发自南极的信将新东方创始人俞敏洪拖入舆论风暴。老板游南极、员工守岗加班的反差 感，不仅让员工难以共情，也引来网友的吐槽与不满。随后俞敏洪多次回应澄清，仍未能完全平息争 议。 事实上，过去近一年来，东方 ...

据鞭牛士报道，直播电商公司东方甄选即将迎来新任掌舵人，新东方教育科技集团副总裁、广州学校校 长孙进将担任执行总裁，目前消息尚未官宣，预计近期将发布公告。 根据公开信息，孙进是新东方教育科技集团副总裁、广州学校校长，2006年加入新东方，深耕出国考试 培训与学校管理，教学与运营经验丰富。 早期主讲四六级、考研、托福、雅思等课程；2008年获集团优秀教师；后历任南京学校常务副校长、校 长，再到广州学校校长与集团副总裁；同时担任广州市新东方文化艺术发展有限公司等关联企业法人、 董事长等职务。 著有《新托福写作白金课堂》《新东方SAT ESSAY全真课堂》等备考书籍。 附东方甄选领导层变更时间线： 2023月12月16日，因"小作文风波"引发舆情，东方甄选董事会决议，免去孙东旭执行董事、CEO职务， 由董事长俞敏洪兼任CEO，即时生效；公告称其对品牌声誉管理不善。 2023年12月22日，孙东旭辞任非执行董事，此后以顾问身份短暂留任。 【#俞敏洪已敲定东方甄选接班人#，19年老将孙进将担任执行总裁】 2025年11月6日，俞敏洪发文确认，孙东旭因个人原因正式离开东方甄选，不再参与公司工作。 ...

Group 1 - The news reports that Sun Jin, Vice President of New Oriental Education Technology Group and Principal of Guangzhou School, will take over as the Executive President of Dongfang Zhenxuan, with an announcement expected soon [2] - Sun Jin has been with New Oriental since 2006, initially working as a frontline teacher, and currently holds multiple leadership roles in various subsidiaries of New Oriental [2] - New Oriental Wokai De (Guangdong) Cultural Tourism Co., Ltd., established at the end of 2023, has a registered capital of 5 million RMB and is involved in tourism, management consulting, and exhibition services [2] Group 2 - Dongfang Zhenxuan is actively hiring for positions such as "Hotel Business BD" and "Self-operated Product Manager," indicating a focus on tourism and product development [3] - Sun Jin's extensive experience at New Oriental is seen as beneficial for integrating with Dongfang Zhenxuan's operations, although there are concerns about adapting to the fast-paced live e-commerce industry [3] - The previous CEO of Dongfang Zhenxuan, Sun Dongxu, resigned for personal reasons, having served since the company's rebranding in March 2023 [3]

新京报讯(记者徐彦琳)12月24日，有媒体报道称，直播电商公司东方甄选即将迎来新任掌舵人，新东方 教育科技集团副总裁、广州学校校长孙进将担任执行总裁。对此，东方甄选回应新京报记者称情况属 实。 据悉，孙进于2006年加入新东方，任一线教师，主讲四六级写作、考研阅读、托福阅读、雅思写作、高 考语法等，曾获2008年度上海新东方优秀教师、2008年度新东方集团优秀教师、新东方20周年功勋教 师。此后，孙进进入新东方管理岗位，先后任苏州新东方国外考试部主任，南京学校常务副校长、校 长，广州学校校长，并升任新东方教育科技集团副总裁。值得一提的是，孙进还参与编写了《新托福写 作白金课堂》《新东方SAT ESSAY全真课堂》等备考书籍。 此外，工商信息显示，他还担任广州市新东方文化艺术发展有限公司、南京绿宝书教育培训中心有限公 司法定代表人、董事长等职务。 此前，新东方创始人俞敏洪于11月6日在社交平台发文，确认东方甄选前CEO孙东旭离职。企查查显 示，11月底，东方甄选(北京)科技有限公司发生工商变更，孙东旭卸任法定代表人，由俞敏洪接任。该 公司由东方优选(北京)科技有限公司100%持股。目前，东方优选科技有限公司尚未 ...

Group 1 - Mercedes-Benz (China) has delayed payments to suppliers for over two years, with outstanding amounts related to the AMG project exceeding 1.482 million yuan [3][4] - The total payable amount confirmed by Ernst & Young for the AMG project is 6.994 million yuan, but the payment process has been stalled due to various excuses from Mercedes-Benz [3][4] - The new regulations effective from June 2025 require large enterprises to pay within 60 days after delivery, but many suppliers report difficulties in enforcing this policy [4][5] Group 2 - Doubao's daily active users have surpassed 100 million, making it one of the lowest-cost products among ByteDance's billion-level apps [7][9] - Doubao's marketing expenses are reported to be the lowest for any product achieving over 100 million DAU, indicating effective cost management [7][9] - The Seed team at ByteDance is seen as a core strategic business, focusing on large model foundational research and application [9] Group 3 - Shopee is set to launch a zero-commission policy for new stores starting January 1, 2026, aimed at reducing barriers for sellers entering overseas markets [12] - This initiative will allow sellers in specific Southeast Asian markets to operate their first store without commission for the first three months, with a cap of 500 orders per month [12] Group 4 - Yuan Minghong has appointed Sun Jin as the new CEO of Dongfang Zhenxuan, confirming leadership changes within the company [13][14] - Sun Jin has extensive experience within New Oriental, having joined in 2006 and held various leadership roles [13][14] Group 5 - Cloud Deep Technology, part of the "Hangzhou Six Little Dragons," has initiated IPO counseling, focusing on intelligent robotics [16][17] - The company recently completed over 500 million yuan in Series C financing, indicating strong investor interest and growth potential [17] Group 6 - UBTECH plans to acquire a controlling stake in A-share company Fenglong Co., with a total transaction value of approximately 1.161 billion yuan [22] - The acquisition will give UBTECH a 29.99% stake in Fenglong, changing the controlling shareholder to UBTECH [22] Group 7 - The new brand "Qijing" from Huawei and GAC has unveiled its first model, a hunting-style coupe, which is set to compete in the high-end electric vehicle market [30][31] - The vehicle will feature advanced technologies, including L3-level autonomous driving capabilities, and is expected to launch in June 2026 [30][31] Group 8 - The chairman of Lantu Motors discussed the "involution" in the new energy vehicle sector, emphasizing the need for genuine innovation rather than imitation [33][34] - He highlighted that true innovation should address user needs and improve product value, rather than merely competing on superficial features [34] Group 9 - NVIDIA plans to deliver H200 chips to Chinese customers before the Lunar New Year, with a unit price of 1.4 million yuan [36][37] - The expected shipment volume is between 5,000 to 10,000 modules, translating to approximately 40,000 to 80,000 H200 chips [36][37]