Core Insights - The departure of Sun Dongxu from Dongfang Zhenxuan is confirmed by Yu Minhong, who expresses hope for his return in the future, indicating internal changes within the company [3] - Sun Dongxu played a crucial role in the company's success in live e-commerce and faced significant challenges during the "Little Essay" controversy, which has impacted the company's stock performance [4] - Dongfang Zhenxuan has shifted its business model from online education to self-operated products and live streaming, with significant changes in revenue and operational focus [5] Group 1: Company Changes - Sun Dongxu has left his position due to personal reasons, despite encouragement from Yu Minhong to stay [3] - The company has transitioned from being known as New Oriental Online Technology Holdings to Dongfang Zhenxuan Holdings, focusing solely on self-operated products and live streaming [3] - The internal conflicts and controversies have led to significant leadership changes, including the resignation of Sun Dongxu as CEO [4] Group 2: Financial Performance - In the fiscal year 2025, Dongfang Zhenxuan's net revenue from its core business decreased by 32.7% to 4.4 billion RMB, while the gross merchandise volume (GMV) dropped by 39.2% to 8.7 billion RMB [5] - The company reported a net profit of 0.062 billion RMB, recovering from losses in the first half of the fiscal year [5] - The total revenue cost decreased by 38.2% to 3 billion RMB, with gross profit declining by 17% to 1.4 billion RMB [5] Group 3: Market Position and Challenges - Dongfang Zhenxuan is focusing on self-operated products, multi-platform strategies, and building a paid membership system, but faces challenges in establishing a strong organizational structure [6] - The company is still primarily focused on agricultural products, which are high-frequency but low-margin, and needs to improve its supply chain and membership experience [6] - Comparatively, the sales performance of Dongfang Zhenxuan is lagging behind its competitor Hui Tongxing, indicating a need for better brand management and operational strategies [5][6]
从董宇辉到孙东旭，东方甄选两年失去“两大支柱”