Core Viewpoint - Oriental Selection reported significant profit and gross margin growth for the mid-term of fiscal year 2026, driven by adjustments in product structure and personnel, despite facing challenges in e-commerce orders and paid membership growth [1][4]. Financial Performance - Total revenue for the mid-term of fiscal year 2026 reached 2.31 billion RMB, a year-on-year increase of 5.7% [4]. - Gross profit rose by 14.5% to 841.64 million RMB, with gross margin improving from 33.6% to 36.4% [4]. - The company achieved a net profit of 239.04 million RMB, a significant turnaround from a net loss of 96.5 million RMB in the same period last year, marking a 347.7% increase [4][5]. Product Strategy - Oriental Selection has expanded its self-operated product matrix, launching a total of 801 self-operated products, an increase of 201 from the previous year [5]. - Self-operated products accounted for over 50% of total GMV during the reporting period, contributing to improved overall profitability [5]. Cost Management - The company reduced its workforce by 360 employees, leading to a 34.9% decrease in total salary expenses [6]. - Administrative expenses were significantly cut by 78.6%, dropping from 392 million RMB to 83.9 million RMB, primarily due to the impact of the split with Huizhong [7]. Market Challenges - Oriental Selection's total GMV for the reporting period was 4.1 billion RMB, with a 16.4% year-on-year growth when excluding GMV from Huizhong [8]. - The company faced a decline in orders from its main channel, Douyin, with 42.1 million orders, a decrease of 8 million compared to the previous year [8]. Membership Growth - Paid membership numbers increased to 240,100, but the growth rate of new paid members has significantly declined [8][9]. - The company is exploring ways to enhance membership retention and engagement, particularly through partnerships with New Oriental's educational services [10]. Offline Expansion - Oriental Selection plans to open its first offline store in Beijing, covering 439 square meters, aimed at providing a comprehensive shopping experience [9]. - The company has also deployed over 40 vending machines in various cities, with some locations already turning a profit [9]. Future Strategies - The company is focusing on expanding its Douyin live-streaming account matrix and plans to hire more hosts to enhance its online presence [11]. - Efforts are being made to improve community engagement and customer retention through active interaction with users [11].
会员增速疲软 东方甄选最优解在线下？