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 influencers is diminishing, indicating a shift in the company's business model towards a more sustainable approach focused on user trust and supply chain enhancement [3][4]. Financial Performance - For the fiscal year 2025, Oriental Selection's revenue from continuing operations decreased by 32.7% to 4.4 billion yuan from 6.5 billion yuan in 2024, while net profit dropped from 249 million yuan to 6.2 million yuan [3][4]. - Excluding the financial impact from the sale of Hui Tong, the net profit from continuing operations increased by 30% to 135 million yuan from 104 million yuan in the previous year [3]. Business Model Transformation - The company is moving away from reliance on influencer marketing, focusing instead on a model that emphasizes quality product selection and self-operated products [3][6]. - The CEO, Yu Minhong, stated that the challenges faced in fiscal year 2025 have strengthened the core business model, centering around a live-streaming platform for quality products [3]. Market Response - Oriental Selection's stock price has rebounded significantly, closing at 36.3 HKD on August 22, up over 307% from the low of 8.92 HKD following the departure of influencer Dong Yuhui [6]. - The market's positive response reflects recognition of the company's strategic shift from dependence on top influencers to a more diversified content e-commerce model [6]. Product Development and Sales - In fiscal year 2025, the total GMV for self-operated products and live-streaming e-commerce reached 8.7 billion yuan, with the GMV from the Oriental Selection app increasing from 8.4% to 15.7% of total GMV [7][8]. - Self-operated products accounted for approximately 43.8% of total GMV, with the company launching 732 self-operated products, expanding beyond initial categories to include health foods, pet products, and clothing [8]. Strategic Focus - The company aims to create an "online Sam's Club" by focusing on family needs and building a trusted online supermarket [8]. - To enhance service experience, Oriental Selection has launched its first cold chain warehouse to improve logistics efficiency [8]. Membership and User Engagement - Oriental Selection plans to invest in optimizing the app and membership experience, aiming to increase monthly active users and registered members [10]. - The company will enhance its marketing efforts, including offline promotions and community engagement, to drive membership growth [10].
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