Core Viewpoint - Oriental Selection reported a significant decline in revenue and net profit for the fiscal year ending May 31, 2025, primarily due to intensified competition in the live e-commerce sector and strategic business adjustments [2][5]. Financial Performance - Total revenue for the fiscal year 2025 was 4.392 billion RMB, a decrease of 32.7% from 6.526 billion RMB in the previous fiscal year [2][4]. - Net profit from continuing operations was 6.191 million RMB, down 97.5% from 249.1 million RMB year-on-year [2][4]. - Excluding the impact of the sale of Huixing Technology, net profit from continuing operations increased by 30% to 135.4 million RMB [5]. Business Segments - Revenue from the app increased from 900 million RMB in fiscal year 2024 to 1.1 billion RMB in fiscal year 2025 [2]. - Total revenue from continuing operations, excluding Huixing Technology, decreased by 30.9% to 4.2 billion RMB [2]. Strategic Adjustments - The company has shifted focus towards self-operated products, with total revenue from self-operated products reaching approximately 3.5 billion RMB, accounting for about 43.8% of total GMV [7]. - The product range has diversified beyond fresh food and snacks to include daily consumer goods and home products [7]. Operational Metrics - The total GMV for fiscal year 2025 was 8.7 billion RMB, with a notable increase in GMV from the app, rising from 8.4% in fiscal year 2024 to 15.7% [7]. - The number of paid subscribers for the Oriental Selection app reached 264,300, indicating a growing membership base [7]. Cost and Profitability - Total cost of revenue for continuing operations decreased by 38.2% to 3 billion RMB, primarily due to reduced inventory and logistics costs [8]. - Gross profit fell from 1.7 billion RMB in fiscal year 2024 to 1.4 billion RMB, but gross margin improved from 25.9% to 32.0% [8]. Team and Structure - As of May 31, the total number of employees in the self-operated products and live e-commerce teams was 1,401, with 1,070 full-time and 331 part-time staff [8]. Management Stability - Prior to the earnings release, there were rumors regarding the departure of former CEO Sun Dongxu, which the company denied, stating he is currently on leave and has not left the company [9].
东方甄选2025财年净利下滑超九成