Core Viewpoint - Dong Yuhui's departure has significantly impacted Dongfang Zhenxuan's performance, leading to a decline in GMV and revenue, while the company is shifting focus towards self-operated products and diversifying sales channels [1][2][8]. Financial Performance - In the fiscal year 2025, Dongfang Zhenxuan's net revenue from continuing operations was 4.392 billion RMB, a decrease of 32.7% from 6.525 billion RMB in the previous year [5][6]. - The net profit for the year was 6.19 million RMB, down from 249.145 million RMB in the previous year [5]. - Adjusted net profit, excluding the impact of the sale of Huixing, was 135.4 million RMB, representing a 30% increase year-on-year [6]. Sales Channels and GMV - The total GMV from all sales channels, including Douyin and the company's app, dropped from 14.3 billion RMB to 8.7 billion RMB [8]. - The number of paid orders on Douyin decreased from 180 million to 91.6 million [8]. - The proportion of GMV from the Dongfang Zhenxuan app increased from 8.4% in the previous year to 15.7% in fiscal year 2025 [10]. Product Strategy - The company launched 732 self-operated products in fiscal year 2025, up from 488 in the previous year, expanding its product categories to include health foods and pet products [12]. - Self-operated products accounted for approximately 43.8% of total GMV [12]. - The company is focusing on high-frequency, stable-demand areas such as daily consumer goods and home products [12]. Membership and Customer Engagement - Dongfang Zhenxuan introduced a membership system in October 2023, with paid membership numbers growing from 198,600 to 264,300 [10]. - The company aims to enhance customer loyalty and build a private traffic pool through this membership initiative [10]. Future Outlook - The company is shifting its competitive focus from relying on celebrity hosts to strengthening its supply chain and product offerings [11]. - There is a need to stabilize the talent pool of mid-tier hosts while balancing cost control and quality in self-operated product development [13]. - Future strategies may include leveraging big data to analyze customer preferences and develop customized product offerings [14].
董宇辉出走一年，东方甄选仍处转型阵痛期