Core Insights - Oriental Selection launched its self-operated sanitary napkin product, achieving sales of over 300,000 packages within 14 hours of its release on June 16 [1][4]. Product Features - The sanitary napkin is marketed as "pure cotton" and emphasizes safety as the top priority, with strict testing standards [4][7]. - The product promises seven "zero additions," including no alcohol, dyes, preservatives, and formaldehyde, adhering to national safety standards [9][11]. Market Context - The decision to launch the sanitary napkin was influenced by consumer demand, with many users requesting the product since early 2024 [11]. - The market has seen quality issues with other brands, including reports of substandard pH levels and heavy metal contamination, which may have created an opportunity for Oriental Selection [11]. Sales and Distribution - The sanitary napkins are shipped directly from exclusive warehouses via logistics partners like SF Express and JD, ensuring controlled sales channels [11]. - As of March 20, the company reported over 400 self-operated products available for sale, with total sales exceeding 210 million units and a customer base of 30.86 million [13].

Core Viewpoint - Dongfang Zhenxuan has officially entered the female care market by launching its first self-operated sanitary napkin product, achieving over 300,000 sales on the first day of release [2][4]. Product Development - The pure cotton sanitary napkin is one of the longest internally incubated self-operated products, with development starting two years ago but officially launched only in September of the previous year after multiple adjustments and supplier negotiations [4][5]. - The product meets various safety standards, including the "Green Product Standard" and safety specifications for infant and children's paper products, with stricter internal standards for formaldehyde and pH levels [4][5]. Production and Quality Control - The sanitary napkin is produced by Beishute, a leading company in the industry, which has been recognized as an advanced intelligent factory in Tianjin [5]. - The production process includes over ten monitoring points to ensure quality control, and additional monitoring is in place to prevent waste materials from entering the market [5]. Product Specifications and Pricing - The sanitary napkin is available in two sizes, 240mm and 290mm, with a member price of less than 1 yuan per piece [5]. - Dongfang Zhenxuan plans to launch additional related products, including a lightweight quick-absorb sanitary napkin by the end of July and sleep pants by mid-August to cater to various consumer needs [6].

Core Insights - Dongfang Zhenxuan has announced the production of its self-branded sanitary napkins, set to launch on June 16 on its app and June 18 across all platforms [1][3] - The company emphasizes high standards for product performance and materials, aiming for a 100% cotton product with traceable raw materials from Xinjiang [1][3] Group 1: Product Development Challenges - The main challenge faced during collaboration was Dongfang Zhenxuan's stringent requirements for product performance and consumer experience, which nearly stalled negotiations [1] - The sanitary napkin's absorption speed requirement is set at under 15 seconds, significantly more demanding than the national standard of 60 seconds and the industry average of 20 seconds [3] Group 2: Material and Safety Standards - Dongfang Zhenxuan's sanitary napkins will feature 100% cotton in all skin-contact areas, including the wings, which is a higher standard than most products on the market [1] - The company has added nine additional safety testing items beyond national standards, ensuring no harmful substances like formaldehyde and acrylamide are detected [1][3] Group 3: Market Reception and Consumer Interest - There is a strong consumer interest in Dongfang Zhenxuan's sanitary napkins, with many users sharing shopping tips to secure purchases on launch day [3] - The company aims to address consumer anxiety regarding sanitary products by providing safer and more comfortable options [3]

Group 1 - Apple announced at the WWDC 2025 that AI features for Siri will not be launched in the short term, but new functionalities under Apple Intelligence will be introduced to developers [28] - The company is set to redesign its operating system and will support more languages in its AI offerings [28] - Apple published a paper criticizing existing AI reasoning models, suggesting they lack stable and understandable thought processes, which has sparked debate in the AI community [29][30] Group 2 - BYD has integrated Alibaba Cloud's Tongyi model into its smart cockpit, enhancing user experience with online services [14] - The company continues to demonstrate its leadership in the smart vehicle sector through this collaboration [14] Group 3 - Evergrande Group has listed 12 non-performing debts totaling approximately 11.3 billion yuan on the JD asset trading platform, which may impact its financial stability [15] - The debts are held by China Great Wall Asset Management Co., with projects located in various cities including Beijing and Tianjin [15] Group 4 - WeChat has recently removed nearly 100 short films for violating content guidelines, reflecting its commitment to maintaining a healthy platform [16][17] - This action aims to enhance user experience and uphold market order [17] Group 5 - Gree Electric Appliances reported progress in its legal actions against defamatory online content, receiving administrative penalties against several individuals [19] - The company is actively protecting its reputation and employee rights through these measures [19] Group 6 - Starbucks announced a price reduction for several beverage categories in China, aiming to attract more customers and increase market share [26] - The average price drop is around 5 yuan, with some drinks starting as low as 23 yuan [26]

Group 1 - Dongfang Zhenxuan announced the launch of its first self-operated sanitary napkin, which will be available for sale on June 16, featuring a "pure cotton surface" aimed at safety and skin-friendliness [2][3] - The sanitary napkin's pH value is weakly acidic, and it has passed key tests such as skin sensitivity patch tests and formaldehyde-free tests, adhering to the GB 43631-2023 safety standards for infant products [3] - The first batch of sanitary napkins will include two specifications: 240mm and 290mm, with sales starting on the Dongfang Zhenxuan App and expanding to all official sales channels by June 18 [3] Group 2 - Many leading MCNs have entered the sanitary napkin market, with Huang Zitao's brand Duowei launching in May, claiming to have acquired a factory for transparent production rather than using a third-party manufacturer [4] - Duowei's sales performance has been strong, achieving over 40 million yuan in GMV during a live broadcast, with more than 5.4 million yuan in sales on the Douyin platform shortly after launch, surpassing established brands [4] - Other influencers, such as Xin Youzhi, have also established sanitary napkin brands, with significant sales figures reported, indicating a growing trend in the market [5]

Investment Rating - The report maintains a positive outlook on the Hong Kong stock market, indicating a strong risk appetite and suggesting investment opportunities in various sectors, particularly in virtual assets and Web 3.0 [3][10]. Core Insights - The Hong Kong stock market is experiencing a significant increase in risk appetite, with improved asset quality and trading volume, highlighting the value of asset trading platforms [3][10]. - There is a notable uptrend in multiple sectors such as AI, new consumption, and innovative pharmaceuticals, with a particular focus on small and mid-cap stocks in media and consumer sectors [3][10]. - The report emphasizes the ongoing development of virtual assets and the Web 3.0 market, driven by stablecoin policies and recent IPOs, suggesting that more regulatory frameworks will emerge [3][10]. - The trend of Chinese companies returning to Hong Kong for IPOs is gaining momentum, with increased trading of companies like NetEase and Ctrip in the Hong Kong market [3][10]. - The valuation of overseas Chinese assets remains influenced by US-China trade relations and the broader economic environment, necessitating close monitoring of trade policies and domestic economic changes [3][10]. Summary by Sections Education - The K12 education sector maintains high growth, with leading institutions reporting over 20% revenue growth during the winter training period, and an increase in non-academic course retention rates [5][11]. Luxury Goods - The luxury goods market shows slight pressure due to macroeconomic factors, but brands that align with demand trends are performing well, with cautious price increases observed [5][20]. Coffee and Tea Drinks & OTA - Coffee and tea remain key categories for delivery platforms, with strong performance from major brands like Luckin Coffee, which continues to expand its store presence [5][25]. E-commerce - The e-commerce sector faces slight pressure, but major platforms like Alibaba and JD.com are expected to benefit from ongoing promotional activities [5][26]. Streaming Platforms - Music streaming platforms are viewed as high-quality internet assets, with sustained profitability driven by scale effects [5][34]. Virtual Assets & Internet Brokers - The stablecoin leader Circle's IPO saw a 168% increase on its first day, marking a significant event in the virtual asset space [5][38]. Real Estate Transactions - Recent data shows a slight decline in second-hand housing transactions in major cities, suggesting a need for caution in the real estate market [5][50]. Automotive Services - The automotive aftermarket is under pressure, with traditional fuel vehicle service visits declining, while new energy vehicle service visits are increasing [5][45].

Core Viewpoint - New Oriental Education Technology Group, led by Chairman Yu Minhong, is actively involved in educational and ecological initiatives in Yushu, Qinghai, enhancing local education and promoting ecological protection through strategic partnerships and live streaming events [1][3][8]. Group 1: Educational Initiatives - New Oriental's educational charity projects have been rooted in Yushu since 2008, significantly supporting the region's recovery after the 2010 earthquake [1]. - The dual-teacher classroom project supported by New Oriental has benefited nearly 10,000 students in Yushu [1]. Group 2: Ecological Protection - Qinghai is recognized as a crucial ecological barrier in China, with seven national nature reserves forming a complete ecological protection system [3]. - The team visited key ecological sites, including the Sanjiangyuan Nature Reserve, to highlight the region's ecological achievements [3]. - New Oriental signed a strategic cooperation agreement with the Sanjiangyuan Ecological Protection Foundation, donating 1 million yuan to support ecological protection efforts [3]. Group 3: Cultural Promotion - The team engaged in immersive cultural experiences, showcasing Tibetan traditions and local products through live streaming [7][8]. - The exploration of local industries, such as yak farming, aims to connect highland specialty products with national consumers, enhancing local economic development [7][8]. - The collaboration with local tourism authorities aims to promote Yushu's natural beauty and cultural heritage through a "cultural tourism + live streaming" approach [8].

Core Viewpoint - The article discusses the management philosophy of Dong Yuhui, the CEO of Yuhui Tongxing, emphasizing his unique approach to leadership and the decision not to hire professional managers, which contrasts with industry norms [1][18][21]. Group 1: Management Philosophy - Dong Yuhui's management philosophy centers on "delegation," focusing on the big picture while allowing professionals to handle specific tasks [6][7]. - He believes that excessive control can lead to a lack of initiative among employees, which can cause organizational stagnation [6][7]. - Dong emphasizes the importance of nurturing talent from within, allowing employees to rise through the ranks based on merit rather than formal qualifications [8][10]. Group 2: Company Structure and Growth - Yuhui Tongxing has grown from 70 to over 300 employees in a short period, achieving annual sales exceeding 10 billion yuan [1][4]. - The company was originally a wholly-owned subsidiary of Dongfang Zhenxuan, but it became independent in July 2022, with Dong Yuhui as the sole controlling person [16][18]. - The absence of professional managers allows for rapid decision-making and execution, which is crucial during the company's growth phase [21][22]. Group 3: Challenges and Future Considerations - The company faces challenges such as reliance on Dong Yuhui's personal brand and potential issues with supply chain management [28]. - There is a noticeable decline in viewer engagement and follower growth, indicating a need for diversification beyond Dong Yuhui's personal influence [28]. - As the company matures, the question of whether to introduce professional managers to enhance operational efficiency and strategic focus will become increasingly relevant [27][28].

5月23日，东方甄选在微博发布声明称：近日，就东方甄选与崔某网络侵权纠纷案，北京市第四中级人 民法院作出二审判决，驳回崔某上诉，维持一审原判。该判决为终审判决。根据判决，崔某须在相关抖 音账号发布并置顶道歉声明，向东方甄选赔礼道歉，并赔偿东方甄选3.6万元。 东方甄选 十天注 25-2-7 14:00 发布于 北京 来自 微博网页版 近日,北京互联网法院就抖音用户崔某网络侵权案作出判决,认定被告发布言论不 实,侵害了东方甄选名誉权,要求被告在抖音账号置顶道歉声明,并赔偿东方甄选 36000元。 2024年6月22日,应贵州省商务厅邀请,东方甄选前往贵州开展"东方甄选·贵州 行"直播活动。随后,被告使用"东坡妹妹"、"小王子的四十四次日落"等抖音账号, 捏造并发布多条针对东方甄选的谣言,称"东方甄选对文旅直播活动,向贵州省政 府部门收取高达七位数宣传费",并谎称"有相关沟通原音录音"等证据,误导大量 网友。根据第三方统计、被告捏造的谣言内容、阅读量超过430万次、吸引点赞超 过8000次。 2024年6月29日,我司发布声明,澄清东方甄选从未向政府要过宣传费,也坚持 不向任何企业或商家收取坑位费。但崔某依然继续 ...

5月23日，东方甄选(01797.HK)发布声明称，近日就东方甄选与崔某网络侵权纠纷案，北京市第四中级 人民法院作出二审判决，驳回崔某上诉，维持一审原判。根据判决，崔某须在相关抖音账号发布并置顶 道歉声明，向东方甄选赔礼道歉，并赔偿东方甄选3.6万元。 法院认为，崔某的上诉理由不能成立，不予采纳；一审判决在事实认定和法律适用方面均无不当，依据 《中华人民共和国民事诉讼法》相关条款，判决其驳回上诉，维持原判。 被告捏造有关抹黑言论 2024年6月，东方甄选举行"东方甄选·贵州行"直播活动。期间，被告人崔某使用"东坡妹妹"、"小王子的 四十四次日落"等抖音账号发布"东方甄选对文旅直播活动，向贵州省政府部门收取高达七位数宣传 费"等不实言论。 崔某还谎称存有"相关沟通原音录音"等证据，致使言论不断发酵升级。据第三方统计，被告捏造的谣言 内容，阅读量超过430万次，吸引点赞超过8000次，误导大量网友跟风围观，对东方甄选的企业声誉造 成严重影响。 6月29日，发现不实言论后，东方甄选发布声明称，公司从未向政府要过宣传费，也坚持不向任何企业 或商家收取坑位费，但崔某依然继续发布侵权视频及不实言论。 东方甄选遂向北京互联 ...