Group 1 - The core viewpoint of the news is that the China Securities Index Hong Kong 300 Mainland High Beta Index has shown significant growth, with a 15.91% increase over the past month, 26.48% over the past three months, and 34.82% year-to-date [1] - The index reflects the overall performance of securities listed on the Hong Kong Stock Exchange from various strategic investment perspectives, with a base date of December 30, 2005, set at 1000.0 points [1] - The top ten holdings of the index include companies such as Sunac China (3.98%), China Merchants Securities (3.11%), and China Cinda (2.77%), indicating a diverse portfolio [1] Group 2 - The index is fully composed of stocks listed on the Hong Kong Stock Exchange, with a sector breakdown showing financials at 28.18%, healthcare at 18.44%, real estate at 17.18%, and information technology at 16.55% [1] - The index sample is adjusted every six months, specifically on the next trading day after the second Friday of June and December, with weight factors fixed until the next adjustment unless special circumstances arise [2]

Group 1 - The core viewpoint of the article highlights the significant rise in the stock price of Dongfang Zhenxuan, which increased by 5.3% to reach 22.85 yuan per share, with a trading volume of 21.69 million yuan as of July 31 [1] - Dongfang Zhenxuan Holdings Limited is recognized as a leader in the online extracurricular education service sector in China, known for providing high-quality online courses and exam preparation services [1] - The company expanded its business in 2021 to include live commerce, educational smart hardware products, STEAM education, and vocational education, and has been the largest online education brand in the Chinese university exam preparation market since 2017 [1] Group 2 - As of the mid-2024 financial report, Dongfang Zhenxuan reported total operating revenue of 2.187 billion yuan and a net profit of -96.79 million yuan [2]

Core Viewpoint - Oriental Selection (01797) has seen its stock price rise over 80% this month, with a current increase of 7.37% to HKD 21.85, and a trading volume of HKD 1.147 billion [1] Financial Performance - Daiwa reported that Oriental Selection's Gross Merchandise Volume (GMV) for the first half of fiscal year 2025 is expected to reach RMB 4.8 billion, with the "With Hui Together" channel led by Dong Yuhui contributing a quarter of this total [1] - Following Dong Yuhui's departure, the GMV has rebounded due to the expansion of sales channels, and the gross margin for self-branded products has improved to a healthy level of 21%, up from 10% in the second half of 2024 [1] Operational Strategy - The company has been reducing its workforce since December last year and expanding its product offerings to include high-margin categories such as health supplements and pet products, which is expected to further improve profit margins in the second half of fiscal year 2025 [1] - Zheshang Securities noted that after two years of challenges, the company's operations are stabilizing, and GMV is expected to turn positive by June 2025 as the high base effect diminishes [1] Market Position - Oriental Selection continues to focus on developing its key products, with GMV stabilizing and profit margins recovering, indicating significant growth potential for self-operated products [1]

Core Viewpoint - Oriental Selection (01797) has seen a significant stock price increase of over 80% this month, with a current price of 21.85 HKD and a trading volume of 1.147 billion HKD [1] Group 1: Financial Performance - According to Daiwa, the Gross Merchandise Volume (GMV) for Oriental Selection in the first half of the 2025 fiscal year is projected to be 4.8 billion RMB, with the "With Hui Together" channel led by Dong Yuhui contributing a quarter of this total [1] - Following Dong Yuhui's departure, the GMV has rebounded due to the expansion of sales channels, indicating a recovery in performance [1] - The gross margin for self-branded products in the first half of 2025 has improved to a healthy level of 21%, up from 10% in the second half of 2024, attributed to reduced discounts [1] Group 2: Operational Strategy - The company has been reducing its workforce since December of last year and expanding its product range to include high-margin categories such as health supplements and pet products, which is expected to further improve profit margins in the second half of 2025 [1] - Zheshang Securities believes that after two years of challenges, the company's operations are stabilizing, and the GMV is expected to turn positive by June 2025 as the high base effect diminishes [1] - Oriental Selection continues to focus on major products, with GMV stabilizing and profit margins recovering, indicating significant growth potential for self-operated products [1]

Core Viewpoint - Oriental Selection (01797) has seen a significant stock price increase of over 80% this month, with a current price of HKD 21.85 and a trading volume of HKD 1.147 billion [1] Group 1: Financial Performance - Daiwa reported that Oriental Selection's Gross Merchandise Volume (GMV) for the first half of the 2025 fiscal year is expected to be RMB 4.8 billion, with the "With Hui Together" channel led by Dong Yuhui contributing a quarter of this total [1] - Following Dong Yuhui's departure, the GMV has rebounded due to the expansion of sales channels, indicating a recovery in performance [1] - The gross margin for self-branded products has improved to a healthy level of 21% in the first half of 2025, up from 10% in the second half of 2024, attributed to reduced discounts [1] Group 2: Strategic Developments - The company has been reducing its workforce since December last year and expanding its product range to include high-margin categories such as health supplements and pet products, which is expected to further improve profit margins in the second half of 2025 [1] - Zheshang Securities noted that after two years of challenges, the company's operations are stabilizing, and GMV is expected to turn positive by June 2025 as the high base effect diminishes [1] - Oriental Selection continues to focus on developing major products, with GMV stabilizing and profit margins recovering, indicating significant growth potential for self-operated products [1]

Group 1 - The core viewpoint of the article highlights the performance and market position of Dongfang Zhenxuan, which saw a stock price increase of 4.91% to 21.35 CNY per share, with a trading volume of 302 million CNY [1] - Dongfang Zhenxuan Holdings Limited is a leading player in the online extracurricular education service sector in China, known for its high-quality online courses and exam preparation services [1] - The company expanded its business in 2021 to include live commerce, educational smart hardware products, STEAM education, and vocational education, becoming the largest online education brand in the Chinese university exam preparation market by 2017 [1] Group 2 - As of the mid-2024 financial report, Dongfang Zhenxuan reported total operating revenue of 2.187 billion CNY and a net profit of -96.799 million CNY [2]

【导读】北方多地连续极端强降雨造成重大灾害，蔚来等多家企业宣布驰援 据央视新闻消息，本轮强降雨以来，截至7月28日24时，北京全市平均降水量达165.9毫米，最大降水量在密云郎房峪和朱家峪，最大降水强度出现在怀柔 东峪。连续极端强降雨造成重大灾害，北京全市因灾死亡30人，其中密云28人、延庆2人。 同时，华东、华北、东北地区近日遭遇持续强降雨天气，引发严重洪涝及地质灾害，导致京津冀地区以及吉林、山东等省份出现重大人员伤亡和财产损 失。 7月29日，蔚来、理想、字节跳动、小米、东方甄选等企业相继宣布驰援灾区。 蔚来宣布联合蔚来用户公益基金会捐款200万元，携手中华慈善总会驰援灾区，支持保障受灾群众紧急生活物资采购、应急救援设备支持，以及灾后基础 设施修复等关键环节，助力受灾民众渡过难关、重建家园。 北京字节跳动公益基金会宣布捐赠1000万元，将联合深圳壹基金公益基金会、北京平澜公益基金会、中国红十字基金会等公益机构，根据灾区需求支援京 津冀等受灾严重地区，提供卫生用品、生活安置、儿童物资等应急物资，解决部分灾区物资缺乏的问题。 北京字节跳动公益基金会称，其后续将聚焦灾区青少年、老年人等群体需求，支持开展灾后益童 ...

Core Viewpoint - The article highlights the severe impact of extreme rainfall in northern China, leading to significant casualties and property damage, prompting various companies to provide disaster relief support [2][3]. Group 1: Disaster Impact - As of July 28, the average rainfall in Beijing reached 165.9 mm, with the highest recorded in Miyun and Huairou districts, resulting in 30 fatalities [2]. - The continuous heavy rainfall has caused serious flooding and geological disasters in regions including Beijing, Tianjin, Hebei, Jilin, and Shandong, leading to major casualties and financial losses [2]. Group 2: Corporate Response - NIO announced a donation of 2 million yuan to support emergency supplies and infrastructure repair for affected communities [3]. - ByteDance's charity foundation pledged 10 million yuan to provide essential supplies and support for the severely affected areas [5]. - Ideal Auto donated 10 million yuan to assist with emergency rescue and post-disaster recovery efforts [8]. - Xiaomi's charity foundation contributed 5 million yuan in cash and 350,000 yuan worth of emergency supplies, including power banks and flashlights, for immediate aid [10][12]. - Oriental Selection announced a donation of 1 million yuan in cash and supplies to support disaster relief efforts in Beijing and Hebei [12].

Core Viewpoint - The departure of Dou Dou (Wang Ruo Dun), a leading anchor of Dongfang Zhenxuan, marks the complete disintegration of the "golden generation" of knowledge-based e-commerce anchors, following the exits of Dong Yuhui and Jing Wen within a year [8][9]. Summary by Sections Departure of Dou Dou - Dou Dou announced his departure from Dongfang Zhenxuan, stating that he had proposed leaving five times during his tenure but ultimately decided to pursue independent entrepreneurship at this stage of his life [4][5]. - An internal source indicated that Dou Dou's departure was not surprising, as the company's operational model had become routine [2][5]. Impact on Dongfang Zhenxuan - Dou Dou's exit is significant as he is the third top anchor to leave within a year, following Dong Yuhui and Jing Wen, which raises concerns about the company's talent retention [9]. - Despite Dou Dou's departure, the performance of Dongfang Zhenxuan's "Meili Shenghuo" account remained stable, with no significant drop in followers and sales exceeding 100 million yuan in the past month [12]. Financial Performance - Dongfang Zhenxuan's financial report for the 2025 fiscal year showed a 9.3% year-on-year decline in operating income to 2.187 billion yuan, with a shift from a net profit of 160 million yuan to a net loss of 96.5 million yuan [10]. - Even after excluding the one-time impact of the separation from "Yu Hui Tong Xing," the adjusted net profit was only 32.7 million yuan [10]. Future Plans of Dou Dou - Dou Dou has accelerated his commercialization efforts post-departure, with plans to officially launch a new team in August, allocating 50% of his efforts to live streaming, 30% to short videos, and 20% to other areas [7][9]. - He expressed a desire to accept invitations from the entertainment industry, indicating a shift in his career focus [7]. Industry Trends - The live e-commerce industry is experiencing a trend of "de-headification," leading Dongfang Zhenxuan to shift resources towards self-operated products and supply chains, diminishing the individual value of anchors [12]. - Following the split with "Yu Hui Tong Xing," the company has indicated that it will not allow any anchor to establish an independent platform [12].

Core Insights - The departure of Dongdong (Wang Ruodun) from Dongfang Zhenxuan has sparked widespread attention, marking the disintegration of the "golden generation" of knowledge-based e-commerce hosts [2][7] - Dongdong's income reportedly multiplied during his time at Dongfang Zhenxuan, but he expressed a desire to pursue independent entrepreneurship at this stage of his career [2][3] - Dongdong's exit follows the departures of other key hosts, including Dong Yuhui and Jingwen, indicating a trend of talent loss within the company [7][8] Group 1: Departure and Reactions - Dongdong announced his departure from Dongfang Zhenxuan, stating that he had previously expressed a desire to leave five times but was supported by the company during those discussions [3][4] - An internal source indicated that Dongdong's departure was not surprising, as the company's operational model had become routine [4][6] - Dongdong's new team is set to officially launch operations in August, with plans to allocate 50% of efforts to live streaming and 30% to short videos [6][8] Group 2: Impact on Dongfang Zhenxuan - Dongdong's exit is seen as a significant loss for Dongfang Zhenxuan, which has already experienced a decline in its commercial performance following the departure of Dong Yuhui [8][9] - The company's revenue for the fiscal year ending November 2024 showed a 9.3% year-on-year decline to 2.187 billion yuan, with a shift from a net profit of 160 million yuan to a net loss of 96.5 million yuan [8][9] - Despite Dongdong's departure, the performance of the "Meili Shenghuo" account remained stable, with sales exceeding 100 million yuan in the past month [10]