Core Insights - The corn beverage market is expected to experience a significant surge this autumn and winter, driven by rising consumer interest and social media buzz [1][2][10] - Various brands are already launching innovative corn-based drinks, indicating a trend towards healthier and more appealing beverage options [4][5][6][8] Market Trends - Social media platforms like Xiaohongshu and Douyin have seen extensive discussions and high engagement regarding corn beverages, with topics like "corn juice" reaching over 1 billion views [2][6] - Brands such as Hushang Ayi and Mengniu have introduced new corn products, reflecting a growing trend in the beverage industry [5][6] Product Innovations - New corn beverages are being developed with a focus on health benefits, such as high fiber content and low calories, appealing to the "light health" trend among younger consumers [11][13] - The introduction of unique flavors and combinations, such as corn and butter, has been validated by market success, indicating consumer interest in innovative taste profiles [17][19] Nutritional Value - Corn is recognized for its nutritional benefits, particularly its fiber content, which aligns with national health initiatives promoting dietary fiber intake [13][24] - For example, a liter of a specific corn beverage contains approximately 320g of sweet corn, providing significant dietary fiber [13] Visual Appeal and Marketing - The vibrant yellow color of corn beverages enhances their marketability, creating a visually appealing product that resonates with consumers' emotional needs during the autumn and winter seasons [16][24] - The trend of reimagining classic national beverages, such as corn drinks, is gaining traction, allowing brands to leverage nostalgia while introducing modern twists [24]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 東方甄選控股有限公司 呈交日期: 2025年8月6日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01797 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | USD | | 0.00002 | USD | | 100,000 | | 增加 / 減少 (-) | | | 0 | | | | USD | | 0 | | 本月底結存 | | | 5,000,000,000 | USD | | 0.00002 | USD | | 100,000 | 本月底法定/ ...

Group 1: Market Performance - Hang Seng Index rose by 0.18%, gaining 45 points to close at 24,947 points; Hang Seng Tech Index increased by 0.03% [1] - Hong Kong stock market saw a morning trading volume of 120.6 billion HKD [1] Group 2: Notable Stock Movements - Coal stocks led the gains, with China Shenhua (01088) up 3.61% and Yanzhou Coal (01171) up 4.1%, as the fifth round of coking coal price hikes took effect [1] - Crystal International (02228) surged over 8% after signing a pipeline cooperation agreement with DoveTree, with a total order size of approximately 47 billion HKD and an initial payment of 51 million USD received [1] - Tsugami (01651) rose by 4.68% following a nearly 40% increase in Q1 net profit from its Japanese division and positive machine tool production data for June [1] - Xianjian Technology (01302) increased by 6.97%, with expectations of gradual price adjustments for related products in the second half of the year [1] - Pop Mart (09992) gained 6.31%, driven by strong demand for its proprietary IP, with Morgan Stanley highlighting its undervalued platform [1] - China Shipbuilding Defense (00317) rose over 7%, anticipating a more than double year-on-year increase in net profit for the first half of the year [1] - BYD Electronics (00285) increased by over 6%, benefiting from AI-driven growth in the liquid cooling market and entry into the Nvidia supply chain [1] - Wuling Motors (00305) surged over 10% after announcing a profit warning, with mid-term net profit soaring nearly threefold as the company actively expands in the new energy sector [1] Group 3: Declining Stocks - Qilu Expressway (01576) fell by 6.37% after issuing a profit warning, expecting a year-on-year decline of approximately 21.62% in mid-term net profit [2] - Dongfang Zhenxuan (01797) dropped over 7% amid public relations issues and the closure of Sam's Club member stores, despite its stock price doubling since early July [3] - Boya Interactive (00434) declined by over 6%, projecting a year-on-year profit decrease of 25% to 35% for the first half of the year [4]

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].