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东方甄选再涨超7% 本月股价已涨超八成 机构看好其利润率不断修复

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]