Core Insights - Oriental Selection reported a significant decline in net revenue and GMV for the fiscal year 2025, with net revenue dropping by 32.7% to 4.4 billion RMB and GMV decreasing by 39.2% to 8.7 billion RMB [1][2] - Despite the revenue decline, the company achieved a positive net profit of 0.062 billion RMB, recovering from a loss in the first half of the fiscal year [1] - The gross margin improved from 25.9% to 32% due to a reduction in inventory and logistics costs, which fell by 38.2% to 3 billion RMB [1] Financial Performance - The continuous operating business's net revenue decreased from 6.5 billion RMB to 4.4 billion RMB, reflecting a 32.7% year-on-year decline [1] - The net profit for the fiscal year was reported at 0.062 billion RMB, a recovery from the previous year's loss, while adjusted net profit increased by 30% to 1.354 billion RMB [1] - Administrative expenses rose by 22.5% to 484.8 million RMB, primarily due to the distribution of remaining profits related to the departure of former CEO Dong Yuhui [2] Management Changes - Dong Yuhui's departure had a notable impact on the company's operations and financials, with a significant portion of the administrative expenses attributed to his severance [2] - The company clarified that former CEO Sun Dongxu is on leave and has not officially left the company, while Yu Minhong has taken over as CEO [2]
东方甄选董宇辉分手费披露终结版，东方甄选GMV下滑但毛利率提升