创业邦·2025-06-20 10:16Core Viewpoint - The recent departure of popular hosts from Dongfang Zhenxuan highlights the company's struggles with management and declining performance, as evidenced by significant revenue drops and losses in the latest financial reports [3][4][16]. Group 1: Departure of Hosts - Popular host Dondon announced his departure from Dongfang Zhenxuan on June 18, expressing gratitude towards the company while indicating past dissatisfaction with management practices [5][8]. - Dondon is not the first host to leave; at least three prominent hosts have departed within a year, reflecting a broader trend of talent loss at Dongfang Zhenxuan [4][11]. - The company has faced criticism for its management style, with Dondon previously voicing concerns about decision-making processes and communication issues [8][9]. Group 2: Financial Performance - Dongfang Zhenxuan reported a revenue decline of over 20% in its mid-year financial results for the 2025 fiscal year, with total revenue dropping from 27.95 billion RMB to 21.87 billion RMB [4][17]. - The company transitioned from profit to loss, recording a net loss of 96.5 million RMB compared to a profit of 249 million RMB in the previous year [18][19]. - Key performance indicators, including Gross Merchandise Value (GMV), also showed a decline, with total GMV falling from 57 billion RMB to 48 billion RMB, a decrease of 16.2% [20]. Group 3: Competitive Landscape - Dongfang Zhenxuan is losing ground to competitors like Yuhui Tongxing, which has surpassed it in both follower count and GMV performance [20][21]. - Despite the challenges, the company aims to expand its product offerings, having launched 600 SKUs, including a new sanitary napkin product that achieved significant sales shortly after launch [22]. Group 4: Talent Management and Future Outlook - The ongoing talent exodus raises concerns about the company's ability to retain skilled individuals, prompting a need for improved talent development and corporate culture [22][23]. - The founder, Yu Minhong, remains committed to transforming Dongfang Zhenxuan into a leading online retail platform, despite the challenges posed by talent loss and declining performance [22].