Core Insights - Oriental Selection reported a total revenue of 4.39 billion RMB for the fiscal year 2025, a decrease of 32.7% year-on-year [2] - The company achieved a net profit of 6.2 million RMB for the fiscal year 2025, marking a significant decline of 97.5% compared to the previous year's net profit of 249 million RMB [2][3] - The gross margin for the continuing operations improved from 25.9% in fiscal year 2024 to 32% in fiscal year 2025, driven by the healthy development of self-operated products and live e-commerce [2] Revenue and Profit Analysis - Total revenue for continuing operations decreased from 6.1 billion RMB in fiscal year 2024 to 4.39 billion RMB in fiscal year 2025, a decline of 30.9% when excluding the revenue from the sale of the education business [2][3] - The net profit for continuing operations, excluding the financial impact of the sale, increased by 30% to 135.4 million RMB in fiscal year 2025 [2] - The adjusted EBITDA for continuing operations was reported at 988.93 million RMB for fiscal year 2025 [3] Business Operations and Growth Drivers - The total GMV (Gross Merchandise Volume) for self-operated products and live e-commerce reached 8.7 billion RMB in fiscal year 2025, a decrease of 39.2% from 14.3 billion RMB in fiscal year 2024 [4] - The number of paid subscribers for the Oriental Selection App reached 264,300 in fiscal year 2025 [4] - The company launched 732 self-operated products in fiscal year 2025, expanding its product categories beyond fresh food and snacks to include health products, pet food, and apparel [4] Strategic Developments - Oriental Selection has launched its first self-operated cold chain warehouse, improving logistics efficiency [5] - A new annual framework agreement with New Oriental was established, allowing Oriental Selection to sell its own brand products, with a transaction cap of 100 million RMB for fiscal year 2026 [5] - Recent stock price volatility was noted, with significant fluctuations following rumors regarding executive misconduct, which were later denied by the companies involved [5][6]
东方甄选财年净利大跌97%，自营产品及直播电商收入降三成