Core Viewpoint - The former CEO of Dongfang Zhenxuan, Sun Dongxu, is reportedly on leave and may resign soon, following a series of controversies and management challenges that have affected the company's stock performance and leadership stability [1] Group 1: Leadership Changes - Sun Dongxu has entered a leave of absence and is expected to resign shortly after facing criticism for his management style, particularly regarding a dispute with top host Dong Yuhui [1] - The conflict between Sun Dongxu and Dong Yuhui escalated due to the "small essay incident" at the end of 2023, leading to Sun's removal from his positions as executive director and CEO in December 2023 [1] - Despite his dismissal, Sun Dongxu remains within the New Oriental system, indicating potential future involvement [1] Group 2: Stock Performance - Dongfang Zhenxuan's stock price experienced significant volatility, rising from 11 HKD to 50 HKD before dropping to around 35 HKD within a month and a half, reflecting a dramatic increase in market valuation [1] - The company's market capitalization reached 38.6 billion HKD, highlighting the impact of leadership changes and public perception on investor sentiment [1] - The company is set to release its financial report on August 22, which may provide further insights into its performance amidst these leadership transitions [1]

根据公开资料，在东方甄选转型直播带货后，孙东旭出任执行董事兼CEO，主导了公司从教育到电商的 战略转型。然而，2023年12月因"小作文"风波引发公司品牌声誉危机，孙东旭被免去执行董事和CEO职 务。2024年11月，孙东旭以兼职主播身份重回东方甄选直播间，同时仍在多家新东方关联公司担任法定 代表人、执行董事或股东等职，并在幕后参与自营产品供应链管理等业务。 【#曝东方甄选前CEO孙东旭将离职#，官方暂无回应】据媒体报道，前东方甄选CEO孙东旭目前已经进 入休假状态，可能将在近期离职。对此消息，东方甄选官方暂无回应。 ...

Core Viewpoint - The former CEO of Oriental Selection, Sun Dongxu, is currently on leave and may resign soon, with no official response from the company regarding this news [1]. Group 1: Company Leadership Changes - Sun Dongxu served as the executive director and CEO of Oriental Selection, leading the company's strategic transformation from education to e-commerce after the shift to live-streaming sales [1]. - In December 2023, Sun Dongxu was removed from his positions as executive director and CEO due to a brand reputation crisis triggered by the "small essay" incident [1]. - In November 2024, Sun Dongxu returned to Oriental Selection as a part-time live-streaming host while still holding various roles in several New Oriental affiliated companies, including legal representative and executive director [1]. Group 2: Business Operations - Sun Dongxu continues to participate in the supply chain management of self-operated products behind the scenes at Oriental Selection [1].

Group 1 - The core viewpoint of the article highlights the significant increase in the stock price of Dongfang Zhenxuan, which rose by 5.01% to 37.34 yuan per share, with a trading volume of 726 million yuan on August 22 [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-year report for 2024, Dongfang Zhenxuan reported total operating revenue of 2.187 billion yuan and a net profit of -96.799 million yuan [2] - The company disclosed its fiscal year 2024 annual report on August 22 [3]

2、港股通最新日占比减持榜（前20名） | 公司名称 | 占比值变动 | 最新持股比例 | | --- | --- | --- | | 华夏恆生生科(03069) | -1.33% | 14.36% | | 东方甄选(01797) | -1.32% | 29.79% | | 南京熊猫电子股份(00553) | -0.86% | 46.54% | | JS环球生活(01691) | -0.73% | 4.98% | | 山东墨龙(00568) | -0.60% | 54.15% | | 浙江沪杭甬(00576) | -0.60% | 44.19% | | 国联民生(01456) | -0.56% | 53.80% | | 吉宏股份(02603) | -0.54% | 38.11% | | 天齐鋰业(09696) | -0.51% | 37.27% | | 泰格医药(03347) | -0.49% | 56.59% | | --- | --- | --- | | 零跑汽车(09863) | -0.47% | 14.30% | | 凯莱英(06821) | -0.44% | 46.00% | | 康基医疗(0999 ...

Key Points - The top three stocks with net inflows from southbound funds are Yingfu Fund (02800) with 7.071 billion, Hang Seng China Enterprises (02828) with 3.310 billion, and Southern Hang Seng Technology (03033) with 1.714 billion [1] - The top three stocks with net outflows are Dongfang Zhenxuan (01797) with -0.578 billion, SMIC (00981) with -0.487 billion, and Leap Motor (09863) with -0.363 billion [1] - In terms of net inflow ratio, Qin Port Co. (03369) leads with 67.83%, followed by Honghua Smart Energy (01083) at 63.98%, and Anhui Wanshan Expressway (00995) at 58.06% [1] - The top three stocks with the highest net outflow ratios are Kangji Medical (09997) at -68.79%, China Power (02380) at -43.21%, and Poly Property Group (00119) at -41.60% [1] Net Inflow Rankings - Yingfu Fund (02800) had a net inflow of 7.071 billion with a net inflow ratio of 32.30% and a closing price of 25.620 [2] - Hang Seng China Enterprises (02828) saw a net inflow of 3.310 billion with a net inflow ratio of 29.79% and a closing price of 92.060 [2] - Southern Hang Seng Technology (03033) recorded a net inflow of 1.714 billion with a net inflow ratio of 29.36% and a closing price of 5.445 [2] Net Outflow Rankings - Dongfang Zhenxuan (01797) experienced a net outflow of -0.578 billion with a net outflow ratio of -6.16% and a closing price of 34.320 [2] - SMIC (00981) had a net outflow of -0.487 billion with a net outflow ratio of -12.37% and a closing price of 50.050 [2] - Leap Motor (09863) faced a net outflow of -0.363 billion with a net outflow ratio of -15.93% and a closing price of 73.350 [2] Additional Net Inflow Ratios - Qin Port Co. (03369) had a net inflow ratio of 67.83% with a net inflow of 565,800 and a closing price of 2.250 [3] - Honghua Smart Energy (01083) recorded a net inflow ratio of 63.98% with a net inflow of 57,090 and a closing price of 3.930 [3] - Anhui Wanshan Expressway (00995) achieved a net inflow ratio of 58.06% with a net inflow of 5,090 and a closing price of 12.200 [3] Additional Net Outflow Ratios - Kangji Medical (09997) had a net outflow ratio of -68.79% with a net outflow of -42,833.5 and a closing price of 8.700 [3] - China Power (02380) recorded a net outflow ratio of -43.21% with a net outflow of -45,233.1 and a closing price of 3.140 [3] - Poly Property Group (00119) faced a net outflow ratio of -41.60% with a net outflow of -13,472.1 and a closing price of 1.630 [3]

| 代码 | 简称 | 类型 | 成交金额（万港元） | 成交净买入（万港元） | 日涨跌幅（%） | | --- | --- | --- | --- | --- | --- | | 00700 | 腾讯控股 | 港股通(沪) | 352682.92 | 161844.29 | 0.42 | | 00763 | 中兴通讯 | 港股通(沪) | 307773.02 | 19502.71 | 5.38 | | 01810 | 小米集团-W | 港股通(沪) | 305180.48 | 82808.55 | -2.28 | | 03690 | 美团-W | 港股通(沪) | 274431.03 | 78855.83 | -3.06 | | 09988 | 阿里巴巴-W | 港股通(沪) | 257665.26 | 23823.73 | -1.53 | | 09988 | 阿里巴巴-W | 港股通(深) | 251722.00 | -51989.58 | -1.53 | | 00981 | 中芯国际 | 港股通(沪) | 218961.92 | -32961.86 | -0.10 | | 00763 | 中兴通讯 | ...

Core Viewpoint - The stock price of Dongfang Zhenxuan has experienced a significant drop due to rumors of related party transactions and high commission rates, despite a previous surge in stock value since July 2023 [2][3]. Group 1: Stock Performance and Market Reactions - Dongfang Zhenxuan's stock price rose by 212.54% over 23 trading days, reaching a new high since March 2023 [2]. - Following rumors of CEO Zhou Chenggang's involvement in related party transactions and claims of commission rates exceeding 30%, the stock price fell sharply, with a post-market drop of 20.89% [2]. - The departure of popular host Dong Yuhui led to a market reaction, with the stock price plummeting over 23% the day after his exit, resulting in a market value loss of nearly 30 billion HKD [3]. Group 2: Business Strategy and Financial Performance - Dongfang Zhenxuan has been transitioning to a self-operated model, reducing reliance on top hosts, as indicated by CEO Yu Minhong's statements [4]. - The company has developed and launched 600 SKUs of self-operated products, with self-operated products accounting for approximately 37% of total GMV as of November 30, 2024 [4]. - In June 2025, the GMV reached approximately 8.8 billion, a year-on-year increase of 28%, with self-operated products contributing 3.5 billion, up 15% [5]. Group 3: Membership and Customer Engagement - As of November 2024, the number of paid subscribers on the Dongfang Zhenxuan app reached 228,300, driven by the success of self-operated and membership services [6]. - The introduction of a paid membership service, priced at 199 CNY per year, aims to enhance customer loyalty and sales [5]. Group 4: Challenges and Future Outlook - Dongfang Zhenxuan faces challenges in diversifying its product offerings and reducing dependence on a single sales channel, particularly the Douyin platform, which accounts for 60% to 70% of sales [6][7]. - The company is actively seeking a more comprehensive and stable growth model while navigating the competitive retail market [7].

Group 1 - The core event is the launch of the "Dinner with Teacher Yu" and the third season of the Oriental Selection Open Day, hosted by Yu Minhong [1] - The event allows users to sign up through the Oriental Selection App, requiring them to become members [1] - On August 24, Yu Minhong will conduct a live draw to select 20 "lucky members" who will participate in the dinner [1] Group 2 - Selected members will have their round-trip travel expenses fully reimbursed by Oriental Selection, and accommodations will be arranged [1] - The list of selected members will be publicly announced on August 25 [1]

Group 1 - Southbound funds net bought Hong Kong stocks worth 74.61 billion HKD today [1] - The top net purchases included Tencent Holdings at 18.71 billion HKD, Meituan-W at 13.91 billion HKD, and Xiaomi Group-W at 12.74 billion HKD [1] - Southbound funds have net bought Tencent for five consecutive days, totaling 55.7254 billion HKD, and Xiaomi for three consecutive days, totaling 21.9847 billion HKD [1] Group 2 - The net sell-offs included the Yingfu Fund at 8.24 billion HKD, ZTE Corporation at 6.3 billion HKD, and Alibaba-W at 2.81 billion HKD [1] - ZTE Corporation experienced a drop of 5.4% with a net inflow of 1.95 billion HKD [2] - Alibaba-W saw a decline of 1.5% with a net outflow of 5.20 billion HKD [2]