Core Viewpoint - Recent management changes at Dongfang Zhenxuan, with founder Yu Minhong taking over as the legal representative and manager, reflect ongoing instability within the company [2] Group 1: Management Changes - Yu Minhong has replaced Sun Dongxu as the legal representative and manager of Dongfang Zhenxuan following Sun's resignation [2] - The company has experienced frequent personnel changes, including the departure of key figures such as CEO Sun Dongxu and popular host Jingwen [4][5] Group 2: Financial Performance - Dongfang Zhenxuan's total revenue for the fiscal year 2025 is reported at 4.39 billion yuan, a year-on-year decline of 32.7% [4] - Excluding revenue from the "Yuhui Tongxing" live streaming segment, the company's ongoing business revenue decreased by 30.9% from 6.1 billion yuan in fiscal year 2024 to 4.2 billion yuan in fiscal year 2025 [4] Group 3: Product Strategy - The company has launched a total of 732 self-operated products, increasing from 488 in the previous fiscal year, with self-operated products accounting for 43.8% of total GMV in fiscal year 2025 [4][5] - The reliance on self-operated products has led to a decrease in the diversity of offerings, impacting sales and revenue [5] Group 4: Market Position and Strategy - Dongfang Zhenxuan aims to establish a "self-operated products + membership system" model to reduce dependence on traffic and top hosts, but faces challenges such as insufficient SKU diversity and an immature membership system [5]
东方甄选路向何方？董宇辉单飞孙东旭离职 市值蒸发超500亿港元