Key Points - As of August 15, a total of 133 stocks reached their 52-week highs, with notable performers including 瑞港建设 (RuiGang Construction) at 94.74%, 力劲科技 (LiJing Technology) at 60.74%, and 派格生物医药－Ｂ (PAG Biopharma-B) at 39.18% [1] - The highest closing prices were recorded for 瑞港建设 at 0.260, 力劲科技 at 6.790, and 派格生物医药－Ｂ at 32.000 [1] - Other significant stocks that reached new highs include FIT HON TENG at 5.970 (26.04%), 远大中国 at 0.153 (25.81%), and 百心安－Ｂ at 6.060 (25.60%) [1] - The report also highlights stocks that reached their 52-week lows, with 今海医疗科技 (JinHai Medical Technology) dropping to 0.890 (-49.45%) and 恒泰裕集团 (HengTai Yu Group) at 0.014 (-12.50%) [4] - The overall market trend indicates a mix of strong performers and struggling stocks, reflecting varying investor sentiments across different sectors [1][4]

Core Viewpoint - Oriental Selection (01797) has shown a strong performance, with its stock price increasing over 230% since early July, and a current rise of 12.69% to HKD 39.42, with a trading volume of HKD 1.114 billion [1] Financial Performance - Oriental Selection is set to release its full-year results for the fiscal year ending May 31, 2025, on August 22 [1] - For the fourth quarter of fiscal year 2025, the company reported revenues 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] - The Non-GAAP operating profit was approximately RMB 79 million, with an operating profit margin of about 7%, showing a quarter-on-quarter improvement [1] Strategic Insights - The company has improved its profitability despite challenges such as the departure of key personnel and the separation from Huizhong [1] - Analysts suggest focusing on the company's transition from a host-driven model to a product-driven model [1] - Guosen Securities highlights the "Sam's Club paradigm" that emphasizes the importance of high-cost performance products and mature membership systems in a diversified and transparent consumer market [1] - Recent operational improvements and successful expansion into new product categories indicate a positive trend for Oriental Selection [1]

Core Viewpoint - The stock price of Dongfang Zhenxuan in Hong Kong has increased by 15%, reaching a new high in one year [2] Group 1 - The significant rise in Dongfang Zhenxuan's stock price indicates strong market performance and investor interest [2]

Core Viewpoint - Oriental Selection (01797) has shown a strong performance, with its stock price increasing over 230% since early July, and a 12.69% rise to HKD 39.42 as of the latest report, with a trading volume of HKD 1.114 billion [1] Group 1: Financial Performance - Oriental Selection is set to release its full-year results for the fiscal year ending May 31, 2025, on August 22 [1] - For the fourth quarter of fiscal year 2025, the company reported revenues of USD 150 million, a year-on-year decline of approximately 30%, although the decline has narrowed compared to the previous quarter [1] - The Non-GAAP operating profit was approximately RMB 79 million, with an operating profit margin of about 7%, showing a quarter-on-quarter improvement [1] Group 2: Strategic Insights - The company has experienced improvements in profitability following the separation from Huizhong and the departure of a leading host, indicating a shift towards product-driven growth from a host-driven model [1] - Guosen Securities highlighted the "Sam's Club paradigm" that emphasizes the importance of high-cost performance products and mature membership systems in a diversified and transparent consumer market [1] - Recent operational improvements for Oriental Selection, including successful expansion into new product categories and enhanced quality of self-operated business, validate the growth logic for companies in this sector [1]

此外，国信证券指出，东方甄选"山姆范式"引关注。当前消费市场呈现供给多元化、信息透明化、需求 理性化的特点。在此背景下，能够提供高性价比产品并具备成熟会员体系的企业（如山姆、海底捞、东 方甄选等）优势有望更加突出。东方甄选近期经营呈现边际改善，新品类拓展成功，自营业务增长质量 提升。该行认为一定程度上东方甄选经营的边际改善，是这一类企业成长逻辑的印证。 智通财经APP获悉，东方甄选(01797)延续近期强劲走势，早盘再涨超12%，7月初至今股价已累计飙涨 逾230%。截至发稿，涨12.69%，报39.42港元，成交额11.14亿港元。 消息面上，东方甄选将于8月22日（下周五）发布截至2025年5月31日止财政年度的全年业绩。此前新东 方发布25财年第四季度业绩，据华西证券根据业绩公告与业绩会推算，东方甄选25财年第四季度收入 1.5亿美元，同比下滑约30%，下滑幅度环比收窄；Non-GAAP营业利润约0.79亿元人民币，对应的营业 利润率约7%，环比提升。该行表示，公司在经历剥离与辉同行、头部主播顿顿离职风波后，盈利能力 持续改善。该行建议关注公司由主播驱动向产品驱动的转型。 ...

Core Viewpoint - The stock price of Dongfang Zhenxuan has surged over 100% in the past month, indicating a significant recovery and transformation within the company [2][5]. Financial Performance - In the second half of FY2025 (December 2024 to May 2025), Dongfang Zhenxuan's revenue is projected to be approximately $299 million (around 2.16 billion RMB), with an operating profit of about $6.2 million (around 44.71 million RMB) [5]. - In the first half of FY2025 (June to November 2024), the company experienced an operating loss of $15.7 million (around 11 million RMB) [5]. - By FY2025 Q4 (March to May 2025), the operating profit is expected to recover to about $7.2 million (around 51.67 million RMB), with a Non-GAAP operating profit of approximately 79 million RMB [5]. - The operating profit margins for FY25 Q1 to Q4 show significant improvement, moving from -8% to 7% [5]. Strategic Transformation - The recent surge in stock price is attributed to the company's shift in strategy following the departure of key figure Dong Yuhui, allowing the company to refocus on its original vision of becoming a product technology enterprise with supply chain management capabilities [6][12]. - Dongfang Zhenxuan has made notable progress in its self-operated business, increasing its SKU count from under 300 to 600 within a year, with further growth expected [8]. - The launch of self-operated products, such as sanitary napkins, has seen impressive sales, with 180,000 orders and an estimated sales revenue of 20 million RMB within two days on Douyin [9][10]. Market Context - The Chinese retail market is undergoing significant changes, with traditional supermarkets struggling and new retail models gaining traction, exemplified by the rapid growth of Sam's Club in China [13][14]. - Dongfang Zhenxuan's strategy of leveraging online traffic and avoiding physical stores allows for cost-effective operations and a quicker path to profitability [16]. - The company aims to build a sustainable business model focused on self-operated products, benefiting from its brand influence and supply chain advantages [17].

Core Viewpoint - The recent surge in Oriental Selection's stock price reflects market recognition of its transformation and the effectiveness of its self-operated product strategy, moving focus from "people" to "goods" [4][7] Group 1: Stock Performance - On August 14, Oriental Selection's stock price rose over 12%, reaching a high of 35.56 HKD per share, marking a new peak since late September 2023, and closing at 34.98 HKD per share with a total market capitalization of 36.6 billion HKD [2] - Since July, Oriental Selection has seen a cumulative increase of over 194% in its stock price [2] Group 2: Business Model and Strategy - Experts attribute the stock price increase to improvements in Oriental Selection's business model and the alignment with the new consumption trend in the Hong Kong stock market [4] - The company has shifted its focus to self-operated products, with significant growth in its e-commerce channels, indicating a reduced reliance on live-streaming traffic [5][7] - By June 2025, self-operated products are projected to account for 39% of GMV, with 60% of self-operated sales coming from shelf e-commerce channels [5] Group 3: Product Development and Market Response - In June, Oriental Selection's estimated GMV reached 870 million RMB, a year-on-year increase of 28%, with self-operated product GMV at 350 million RMB, up 15% year-on-year [5] - The company has launched 600 SKUs across various categories, including health foods and clothing, expanding beyond its initial focus on fresh food and snacks [7] - The introduction of popular self-operated products, such as a new brand of sanitary napkins, has contributed to sales growth, with 180,000 units sold within two days of launch [5] Group 4: Membership and Customer Engagement - The number of paid members has significantly increased, and the company is implementing various marketing strategies to enhance member engagement and activity [7] - Initiatives include member discounts, offline meetups, and exclusive product launches on the app [7] Group 5: Market Trends - The growing demand for new consumption patterns is favorable for Oriental Selection, which is well-positioned in the online market despite intense competition [8]

Summary of Key Points Core Viewpoint - As of August 14, 200 stocks reached their 52-week highs, with notable performances from China Shun Ke Long (00974), Weijun Biotechnology (00660), and Century Group International (02113) leading the list with high rates of increase [1][2]. 52-Week High Rankings - China Shun Ke Long (00974) achieved a closing price of 1.380 and a peak price of 1.890, marking a 50.00% increase [2]. - Weijun Biotechnology (00660) closed at 0.239 with a peak of 0.280, reflecting a 40.70% increase [2]. - Century Group International (02113) had a closing price of 0.172 and a peak of 0.235, resulting in a 39.88% increase [2]. - Other notable stocks include: - China International (01064) with a 35.71% increase [2]. - Harmony Auto (03836) with a 22.91% increase [2]. - Guolian Communication (08060) with a 22.73% increase [2]. Additional Stocks with Significant Increases - Several other companies also showed notable increases, including: - Paig BioPharma-B (02565) with a 20.22% increase [2]. - Dinos Environmental (01452) with a 19.13% increase [2]. - Via Biotechnology (01873) with a 15.89% increase [2]. - The list continues with various companies achieving increases ranging from 10% to 15% [2][3]. 52-Week Low Rankings - The report also highlights stocks that reached their 52-week lows, such as: - Xi Ye Rong Technology (08107) with a decrease of 10.53% [6]. - Kun Group (00924) with a decrease of 9.84% [6]. - Lu Jin (01098) with a decrease of 9.21% [7].

该行认为，近期东方甄选GMV边际改善印证此逻辑，一方面公司持续打造自营品类，截至2024年11月 推出600款SKU，GMV占比达37%；2025年新品超400款，全网销量2.1亿单。非食品品类突破显著，如 卫生巾48小时售罄18万单。同时报告期内公司付费会员数达22.83万，APP"种草计划"创新流量运营。 东方甄选(01797)今早再度异动拉升，早盘一度涨超12%。值得注意的是，该股自7月初至今股价累计飙 升逾1.8倍，截至发稿，涨7.9%，报34.16港元，成交额10.16亿港元。 消息面上，国信证券指出，当前消费市场供给多元、信息透明、需求理性，竞争中具备高性价比产品与 成熟会员体系的企业优势凸显。一方面供应链是核心基础，成熟的供应链保障高性价比产品持续输出， 另一方面，公域流量红利消退推高获客成本，私域会员体系通过转化低频用户为高粘性客群，摊薄获客 成本并挖掘用户全生命周期价值。 ...

智通财经APP获悉，东方甄选(01797)今早再度异动拉升，早盘一度涨超12%。值得注意的是，该股自7 月初至今股价累计飙升逾1.8倍，截至发稿，涨7.9%，报34.16港元，成交额10.16亿港元。 该行认为，近期东方甄选GMV边际改善印证此逻辑，一方面公司持续打造自营品类，截至2024年11月 推出600款SKU，GMV占比达37%；2025年新品超400款，全网销量2.1亿单。非食品品类突破显著，如 卫生巾48小时售罄18万单。同时报告期内公司付费会员数达22.83万，APP"种草计划"创新流量运营。 消息面上，国信证券指出，当前消费市场供给多元、信息透明、需求理性，竞争中具备高性价比产品与 成熟会员体系的企业优势凸显。一方面供应链是核心基础，成熟的供应链保障高性价比产品持续输出， 另一方面，公域流量红利消退推高获客成本，私域会员体系通过转化低频用户为高粘性客群，摊薄获客 成本并挖掘用户全生命周期价值。 ...