Core Viewpoint - Oriental Selection (01797) has experienced a significant stock price fluctuation, with a drop of over 6% recently, despite having doubled in price since early July. As of the latest report, the stock is down 5.16% at HKD 26.08, with a trading volume of HKD 793 million [1]. Group 1: Market Reactions and Business Adjustments - Recent consumer dissatisfaction has emerged regarding Sam's Club's product adjustments, leading to criticism on social media [1]. - Hema's membership stores will cease operations, indicating a complete withdrawal from its Costco-like membership business [1]. Group 2: Company Strategy and Performance - Tianfeng Securities noted that Oriental Selection possesses attributes of both shelf e-commerce and social e-commerce, aiming to establish itself as an online version of Sam's Club, potentially leveraging market changes for further growth [1]. - Zheshang Securities highlighted that Oriental Selection, along with brands like Pang Donglai and Sam's, focuses on consumer-centric product development, offering high-quality and cost-effective products to meet health needs, which drives stable repurchase rates [1]. Group 3: Financial Performance - New Oriental reported its fourth-quarter earnings for the fiscal year 2025, with revenue of USD 150 million, reflecting a year-on-year decline of approximately 30%, although the decline rate has narrowed compared to the previous quarter [1]. - Non-GAAP operating profit was approximately RMB 79 million, with an operating profit margin of about 7%, showing a quarter-on-quarter improvement [1]. - The company is undergoing a transformation from being driven by influencers to focusing on product-driven strategies, following the challenges of talent departures and business restructuring [1].

Group 1 - The stock price of Dongfang Zhenxuan (01797) has fallen over 6%, despite having doubled since early July, currently trading at 26.08 HKD with a transaction volume of 793 million HKD [1] - Recent consumer dissatisfaction has emerged regarding product adjustments at Sam's Club, leading to negative feedback on social media [1] - Hema's membership stores will cease operations, indicating a complete withdrawal from the membership store business that aimed to compete with Costco [1] Group 2 - Tianfeng Securities noted that Dongfang Zhenxuan possesses attributes of both shelf e-commerce and social e-commerce, aiming to establish itself as an online version of Sam's Club, potentially benefiting from market changes for secondary growth [1] - Zheshang Securities highlighted that Dongfang Zhenxuan, along with brands like Pang Donglai and Sam's Club, focuses on consumer-centric product development, offering high-quality and cost-effective products to meet health needs, which drives stable repurchase rates [1] Group 3 - New Oriental reported a revenue of 150 million USD for Q4 of fiscal year 2025, reflecting a year-on-year decline of approximately 30%, although the decline rate has narrowed compared to the previous quarter [1] - 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 is experiencing an improvement in profitability following the separation from Huixing and the departure of key influencer Duan Duan, suggesting a transition from influencer-driven to product-driven strategies [1]

Core Viewpoint - Oriental Selection (01797) has experienced a significant stock price fluctuation, with a drop of over 6% recently, despite having doubled in price since early July. The current trading price is 26.08 HKD with a trading volume of 793 million HKD [1] Group 1: Market Reactions and Business Adjustments - Sam's Club has faced backlash on social media due to discrepancies between product adjustments and consumer expectations [1] - Hema's membership stores will cease operations, indicating a complete withdrawal from the membership store business that was intended to compete with Costco [1] Group 2: Company Performance and Strategy - Tianfeng Securities noted that Oriental Selection possesses attributes of both shelf e-commerce and social e-commerce, aiming to establish itself as an online version of Sam's Club, potentially leading to a second growth phase [1] - Zheshang Securities highlighted that Oriental Selection, along with brands like Pang Donglai and Sam's, focuses on consumer-centric product development, offering high-quality and cost-effective products to meet health needs, which drives stable repurchase rates [1] Group 3: Financial Results - New Oriental reported a revenue of 150 million USD for Q4 of the fiscal year 2025, reflecting a year-on-year decline of approximately 30%, although the decline rate has narrowed compared to previous quarters [1] - 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 is undergoing a transformation from being driven by influencers to being product-driven, following the challenges of talent departures and business restructuring [1]

Core Viewpoint - Oriental Selection (01797) experienced a 4.15% decline in stock price, trading at 26.36 CNY per share with a transaction volume of 301 million CNY as of 09:40 on August 6 [1] Group 1: Company Overview - Oriental Selection Holdings Limited is a leading player in the online extracurricular education service sector in China, known for providing high-quality online courses and exam preparation services [1] - In 2021, the company expanded its business into live commerce, educational smart hardware products, STEAM education, and vocational education [1] - By 2017, the company had become the largest online education brand in the Chinese university exam preparation market, leveraging strong technological and resource advantages for continuous exploration and development of new business areas [1] Group 2: Financial Performance - As of the mid-2024 report, Oriental Selection reported total revenue of 2.187 billion CNY and a net loss of 96.799 million CNY [2]

Market Overview - US stock indices rebounded, influenced positively by Trump's market support, leading to a 0.68% rise in Hong Kong stocks [1] - San Francisco Fed President Daly indicated that the timing for interest rate cuts is approaching, with expectations for two 25 basis point cuts this year [1] - Goldman Sachs predicts three consecutive 25 basis point cuts starting in September, with a potential 50 basis point cut if unemployment rises further [1] Domestic Market Sentiment - A-share new account openings in July reached 1.96 million, a 71% year-on-year increase, indicating rising domestic confidence [2] - The stock of Upwind New Materials surged 20% after resuming trading, reigniting market enthusiasm [2] - The steel sector saw a significant rise, with Maanshan Iron & Steel's stock increasing over 15% due to improved loss forecasts and supportive policies [2] Industry Trends - The paper industry is experiencing a price increase, with major companies like Nine Dragons Paper and Lee & Man Paper announcing price hikes [2] - The eleventh batch of centralized drug procurement in China saw a record 45 companies applying for the same drug, intensifying competition in the generic drug market [3] - Investment is shifting towards innovative drugs, with companies like Junshi Biosciences seeing stock increases of nearly 34% due to promising clinical trials [3] Financial Support for Key Industries - A joint guideline from the central bank and seven departments aims to support financing for key manufacturing sectors, including integrated circuits and medical equipment [4] - AI-related companies like Longi Green Energy and Lenovo's server business are seeing stock increases due to new orders and market interest [4] Gaming Industry Performance - The domestic gaming market is projected to reach RMB 168 billion in sales by the first half of 2025, a 14.08% year-on-year increase [4] - Heartbeat Games anticipates a revenue increase of approximately 37% for the first half of 2025, driven by strong performance from self-developed games [4] Individual Company Highlights - Tencent's mobile game "Valorant: Source Action" is set to launch on August 19, with projected annual revenue exceeding RMB 6 billion [5] - Oriental Selection's stock surged nearly 17% ahead of its upcoming financial report, reflecting strong market performance [6] - The Macau gaming sector is experiencing a positive trend, with Morgan Stanley raising its revenue growth forecast for the year from 5% to 10% [6] Technological Advancements - Apple's breakthrough in brain-computer interface (BCI) technology allows users to control devices through thought, indicating a significant market opportunity [7] - The Chinese BCI market is expected to exceed RMB 3.8 billion by 2025, with a CAGR of approximately 20% [7] Investment Opportunities - Kelun-Bio has become a top holding in a major fund, indicating strong market confidence in its innovative drug pipeline [8] - The company has established multiple technology platforms and is expected to accelerate commercialization in 2025 [8]

Core Insights - The stock price of Dongfang Zhenxuan surged approximately 15% on August 5, with a trading volume exceeding 1.8 billion HKD, reflecting a cumulative increase of over 130% since July, driven by the effectiveness of its self-operated transformation strategy [1] - The GMV for Dongfang Zhenxuan reached 880 million CNY in June 2025, marking a year-on-year growth of 28%, indicating a return to positive growth after several months of decline [1] - The sales of self-operated products reached 350 million CNY, with a year-on-year increase of 15%, and the proportion of self-operated products in total GMV rose to 39%, showcasing progress in product structure adjustment [1] Group 1 - The sales channels for self-operated products have diversified, with shelf channels accounting for 60% of self-operated sales, reducing reliance on live-streaming traffic [1] - The company aims to meet consumer health needs by selecting high-quality, cost-effective products, which is driving stable repurchase behavior [1] - As of November 2024, the number of paid members reached 228,300, indicating significant room for penetration compared to Sam's Club's 9 million members [1] Group 2 - New Oriental, the parent company of Dongfang Zhenxuan, reported an estimated revenue of approximately 150 million USD for the fourth quarter of 2025, despite a year-on-year decline of about 30%, the decline rate has narrowed compared to previous periods [2] - Operating profit was approximately 79 million CNY, with an operating profit margin of about 7%, reflecting a quarter-on-quarter increase of approximately 3 percentage points [2] - The company is attempting to move away from a reliance on live-streaming sales and traffic-driven models, demonstrating a commitment to strategic adjustments and execution capabilities [2]

Core Viewpoint - Oriental Selection (01797.HK) has seen a significant stock price increase, closing at HKD 27.5, up 16.82%, with a year-to-date increase of 171.5%, indicating a shift in focus from a主播-driven model to a product-driven strategy [5][6]. Financial Performance - For the fourth quarter of fiscal year 2025, revenue is estimated at approximately USD 1.5 billion, reflecting a nearly 30% year-on-year decline, but the decline is narrowing compared to the previous quarter [5]. - The non-GAAP operating profit is projected to be around RMB 0.79 billion, with an operating profit margin of approximately 7%, showing a quarter-on-quarter improvement of about 3% [5]. Business Strategy and Product Development - The company is increasing its investment in self-operated products, particularly in the domestic shrimp supply chain, with a partnership established with Charoen Pokphand Group [6][7]. - The monthly demand for shrimp from Oriental Selection is 150 tons, while the initial production capacity of the partner was only 50-60 tons, leading to a supply gap that required an investment of RMB 4 million to upgrade production capabilities [7]. Market Expansion and Sales Performance - As of July 2025, Oriental Selection has sold over 220,000 units of domestic white shrimp, indicating a supply-demand imbalance [8]. - Other self-operated products have also seen significant sales, with over 260 million units of grilled sausages and eggs sold, and sales of sanitary napkins exceeding RMB 15 million [8]. Future Outlook - The company is expected to recover its profit margins, with a normal profit margin estimated at around 5%, and projected GMV for fiscal year 2026 could reach RMB 9 billion [8]. - There remains substantial growth potential in the paid membership business and self-operated products, comparable to Sam's Club's 9 million member data [8].

Group 1 - The stock price of Dongfang Zhenxuan (01797.HK) surged by 16.82% to 27.5 HKD, with a year-to-date increase of 171.5%, indicating renewed institutional interest following a strategic shift from influencer-driven to product-driven operations [2] - According to Huaxi Securities, Dongfang Zhenxuan's revenue for Q4 FY2025 is estimated to be approximately 150 million USD, reflecting a nearly 30% year-on-year decline, although the rate of decline is narrowing quarter-on-quarter [2] - The company has shown continuous improvement in profitability despite challenges, with a non-GAAP operating profit of approximately 79 million RMB and an operating profit margin of about 7%, up by approximately 3% quarter-on-quarter [2] Group 2 - Dongfang Zhenxuan is increasing its investment in self-operated products, particularly in the domestic shrimp supply chain, with a partnership established with Charoen Pokphand Group's Dongying base [3][5] - The monthly demand for shrimp from Dongfang Zhenxuan is 150 tons, while the current production capacity of the partner is only 50-60 tons, leading to a supply gap that has resulted in nearly 50 days of stockouts [5] - The company has sold over 220,000 units of domestic white shrimp as of the end of July, indicating strong demand in a supply-constrained market [5] Group 3 - Since its rapid rise in June 2022, Dongfang Zhenxuan has undergone a stabilization phase, with analysts noting that while profit margins are under short-term pressure, the company is on a recovery path [6] - The estimated GMV for Dongfang Zhenxuan in FY2025 is around 7.5 billion RMB, with projections for FY2026 GMV to reach 9 billion RMB, highlighting significant growth potential [6] - The company’s paid membership business and self-operated products still have considerable room for growth compared to competitors like Sam's Club [6]

Core Viewpoint - The article discusses recent market movements, focusing on specific companies such as Xizang Tianlu and Zhongguo Dianjian, highlighting their stock performance and strategic decisions, as well as the significant rise of companies like Shangwei New Materials and Dongfang Zhenxuan. Group 1: Xizang Tianlu and Zhongguo Dianjian - Xizang Tianlu announced a reduction of 25 million shares in Zhongguo Dianjian, generating a total transaction amount of 184 million yuan, resulting in a net profit of 45.75 million yuan, which accounts for approximately 43.87% of the company's projected net profit for 2024 [5][12]. - Since July, both Xizang Tianlu and Zhongguo Dianjian have seen significant stock price increases, with Xizang Tianlu rising by 104% and Zhongguo Dianjian by 33% [6]. - Xizang Tianlu's average selling price for the shares was 7.35 yuan per share, while Zhongguo Dianjian's closing price on August 5 was 6.42 yuan [7][8]. Group 2: Shangwei New Materials - Shangwei New Materials resumed trading and hit the daily limit, with its stock price surpassing 110 yuan, marking a cumulative increase of over 1300% in 17 trading days [15]. - The company reported a projected revenue of 783.77 million yuan for the first half of 2025, a 12.50% increase year-on-year, but a net profit decrease of 32.91% to approximately 29.90 million yuan [18][19]. Group 3: Dongfang Zhenxuan - Dongfang Zhenxuan's stock surged over 15%, accumulating a rise of over 135% since July [21]. - The company reported a GMV of 880 million yuan in June, a 28% year-on-year increase, with self-operated products contributing 350 million yuan, a 15% increase [24]. - The company is shifting focus towards self-operated products and enhancing its supply chain capabilities, moving away from reliance on individual influencers [24].

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