Core Insights - Dongfang Zhenxuan (1797.HK) has turned a profit for the first time, reporting a net profit of 239 million yuan for the first half of the 2026 fiscal year, compared to a net loss of 96.79 million yuan in the same period last year [2] - The company's total revenue reached 2.312 billion yuan, marking a year-on-year increase of 5.7%. Excluding revenue from the Huizhong live streaming room, total revenue would have increased by 17% [2] - Self-operated products have become the main driver of revenue growth, with revenue from these products rising by 18.1% to 2 billion yuan, accounting for approximately 52.8% of total GMV [2] Revenue and Performance - For the period from June 1 to November 30, 2025, the total GMV for self-operated products and live e-commerce business was 4.1 billion yuan [2] - The Douyin platform remains the core source of traffic for the company, contributing the highest GMV share, while the GMV share from the Dongfang Zhenxuan app increased to 18.5%, showing growth compared to the previous year [2] Channel Strategy - The company plans to deepen its multi-channel strategy, with steady progress in offline expansion, having deployed over 40 vending machines in various regions, some of which are already profitable [3] - A new flagship offline store is set to open in Beijing's Zhongguancun, covering an area of 439 square meters, designed to create a one-stop shopping, leisure, and social experience [3] - The flagship store will showcase hundreds of self-operated products across various categories and introduce diverse third-party brand products, enhancing consumer choice [3]
同比扭亏，东方甄选2026财年上半年净溢利2.39亿元