Core Viewpoint - Oriental Selection's financial report for the fiscal year 2025 shows a decline in revenue and net profit, but the negative impact from the departure of top streamers is diminishing, with a return to profitability in its ongoing business [2][3]. Financial Performance - For the fiscal year 2025, revenue from ongoing operations decreased by 32.7% to 4.4 billion yuan from 6.5 billion yuan in 2024, while net profit fell from 249 million yuan to 6.2 million yuan [3]. - Excluding the financial impact from the sale of Hui Tong, net profit for ongoing operations increased by 30% to 135 million yuan from 104 million yuan in 2024 [3]. - Administrative expenses rose by 22.5% to 485 million yuan, primarily due to the distribution of remaining undistributed profits related to Hui Tong [3]. Strategic Shift - Oriental Selection is moving away from reliance on internet celebrity effects, focusing on a business model centered around quality product selection and self-operated products [2][4]. - The company aims to create an online supermarket based on user trust, likening its strategy to that of "online Sam's Club" [7][8]. Market Response - The company's stock price has rebounded significantly, rising over 307% from a low of 8.92 HKD at the time of Dong Yuhui's departure to 36.3 HKD [4]. - The market's positive response reflects recognition of Oriental Selection's transition from dependence on live-streaming sales to a more comprehensive content e-commerce model [4][5]. Product Development - In fiscal year 2025, the total GMV for self-operated products and live-streaming e-commerce reached 8.7 billion yuan, with the proportion from the Oriental Selection App increasing from 8.4% to 15.7% [5][6]. - Self-operated products accounted for approximately 43.8% of the total GMV, with 732 self-operated products launched, up from 488 in 2024 [6][7]. Future Plans - The company plans to enhance its self-operated product offerings and improve service experiences, including the launch of a cold chain warehouse to shorten logistics times [7][8]. - CEO Yu Minhong expressed intentions to increase the proportion of self-operated products in total GMV and emphasized the need for continuous growth in active users and membership [9].
头部主播出走风波渐平！东方甄选2025财年扭亏，开讲“线上山姆”新故事