Group 1 - The board meeting of Dongfang Zhenxuan (01797.HK) is scheduled for January 28, 2026, to review and approve the interim results for the six months ending November 30, 2025 [1] - The meeting will also consider the declaration and distribution of an interim dividend, if applicable [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 EAST BUY HOLDING LIMITED 東方甄選控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1797） 董事會會議通知 東方甄選控股有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈，董事 會會議將於2026年1月28日（星期三）舉行，藉以（其中包括）審議及批准本公司及 其附屬公司截至2025年11月30日止六個月之中期業績及其刊發，以及考慮宣派及 派發中期股息（如有）。 承董事會命 東方甄選控股有限公司 董事會主席 俞敏洪 香港，2026年1月5日 於本公告日期，董事會包括執行董事俞敏洪先生及尹強先生；非執行董事孫暢女 士；以及獨立非執行董事林哲莹先生、鄺偉信先生及閻焱先生。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 EAST BUY HOLDING LIMITED 東方甄選控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1797） 有關租賃協議的 關連交易 租賃協議 於2026年1月4日，東小甄（作為承租人）與都會洪業（作為業主）訂立租賃協 議，據此，都會洪業同意向東小甄出租物業，租賃期限自2026年1月1日開始， 為期60個月。 根據國際財務報告準則第16號「租賃」，本集團將於其綜合財務報表中確認租賃 協議項下之物業租賃為使用權資產。本集團於租賃協議項下將予確認使用權資 產之合共價值約為人民幣10百萬元。 上市規則的涵義 租賃協議的主要條款載列如下： 物業面積： 439平方米 資產總值： 根據國際財務報告準則第16號「租賃」，本集團將於其綜合 財務報表中確認租賃協議項下之物業租賃為使用權資產。 本集團於租賃協議項下將予確認使用權資產之合共價值約 為人民幣10百萬元。 租金乃經訂約方公平磋商後釐定，當中 ...

Group 1 - The core point of the news is the change in leadership at Dongfang Zhenxuan (Zhuhai) Tourism Culture Co., Ltd, with Yu Minhong taking over as the legal representative and executive director from Sun Dongxu [2][4] - Dongfang Zhenxuan (Zhuhai) Tourism Culture Co., Ltd was established in October 2023, focusing on tourism development project planning, ticketing agency services, and passenger ticketing agency [4] - Sun Dongxu has previously resigned from multiple positions in other companies, indicating a potential shift in management strategy within the organization [4] Group 2 - The company is fully owned by Beijing New Oriental Xun Cheng Network Technology Co., Ltd, highlighting its connection to a larger educational and technology group [4] - There are reports of a new executive president, Sun Jin, who is expected to take on a significant role in the company's operations, with an announcement anticipated soon [4] - The recent changes in management may signal a strategic realignment for the company as it seeks to enhance its operational effectiveness in the tourism sector [4]

Group 1 - The digital retail sector is experiencing significant changes, with various platforms facing challenges and opportunities in 2025 [1] - Douyin e-commerce is seeing an alarming daily return volume of millions of packages, indicating a shift in the dynamics between e-commerce and logistics industries [6] - Alibaba's anti-counterfeiting alliance reported a 58.5% decrease in counterfeit complaints on the Taotian platform compared to the previous year [8] Group 2 - The second-hand mobile phone recycling platforms are under scrutiny for practices like "high price estimation and low price upon receipt," raising user concerns about fairness and privacy [3] - The "old for new" service on Taobao reportedly saw a 32.7% reduction in the recycling price for an iPhone 15 Pro Max, highlighting issues of price manipulation [11] - A well-known women's clothing store with over 10 million followers announced its closure due to continuous losses, despite significant sales figures [12] Group 3 - Pinduoduo is tightening regulations on promotional language related to free gifts, requiring merchants to use official tools for compliance [15] - Pinduoduo has launched a special governance initiative to combat the use of pre-recorded videos masquerading as live streams, aiming to protect consumer rights [16] - Pinduoduo's new "delivery to village" service aims to enhance competitiveness in rural markets by facilitating logistics for merchants [17] Group 4 - Douyin e-commerce has introduced a new intelligent marketing product, "Qianchuan Chengfang," which integrates AI technology to optimize marketing strategies [30] - Douyin's nine support policies have reportedly saved merchants nearly 29 billion yuan in operating costs from January to November 2025 [32] - Douyin e-commerce's "treasure shop" report indicates a 165% year-on-year increase in GMV for participating merchants [29] Group 5 - The online retail sector in China saw a total online retail sales figure of 144.582 billion yuan from January to November 2025, reflecting a 9.1% year-on-year growth [67] - The Ministry of Commerce reported that online service consumption grew significantly, with a notable increase of 21.7% [77] - The National Development and Reform Commission has issued new rules prohibiting platforms from selling products below cost to prevent market disruption [68]

Core Viewpoint - The stock price of Dongfang Zhenxuan has experienced dramatic fluctuations, with a maximum amplitude exceeding 242% in 2025, reflecting the market's mixed sentiments towards the company's strategic shift away from "top-tier hosts" [1][17] Group 1: Leadership Changes - On December 25, 2023, Dongfang Zhenxuan appointed Sun Jin as the new CEO, marking the end of the previous era under CEO Sun Dongxu [2][3] - The appointment led to a slight increase in stock price by 0.67% on the announcement day, followed by a further rise of 5.7% on December 29, closing at 18.56 HKD per share, with a total market value of 19.5 billion HKD [2][3] Group 2: New CEO's Background - Sun Jin, born in 1983, has a law degree and has been with New Oriental since 2006, gradually rising through the ranks and gaining significant management experience [3][4] - He has received multiple awards for his management performance, indicating a strong track record within the organization [4][5] Group 3: Challenges Ahead - Dongfang Zhenxuan is facing significant challenges, including a 32.7% year-on-year decline in revenue to 4.4 billion CNY and a 39% drop in GMV to 8.7 billion CNY for the fiscal year 2025 [17][20] - The company is under scrutiny due to public reactions to founder Yu Minhong's statements, which have led to concerns about his empathy and the company's public image [17][20] Group 4: Strategic Focus - Sun Jin is expected to prioritize building a content system that does not rely on individual hosts, aiming to standardize and scale content production [20][21] - The company plans to diversify revenue streams by introducing knowledge-based paid courses and exploring offline retail opportunities, including flagship stores [21][22]

Group 1 - The Hong Kong stock market indices collectively rose, with the Hang Seng Index increasing by 0.24%, the Hang Seng China Enterprises Index by 0.50%, and the Hang Seng Tech Index by 0.98% as of December 30, 2025 [1] - The Hang Seng Internet ETF (513330) saw an increase of 0.58%, with a latest price of 0.517 yuan and a trading volume of 9.02 billion yuan, resulting in a turnover rate of 2.60% [1] - Among the constituent stocks, notable gainers included Maifushi up 10.00%, UBTECH up 7.20%, Baidu Group-SW up 7.14%, and Yujian up 5.31%, while leading decliners included Dongfang Zhenxuan down 2.27% and Xinyi Network Group down 1.30% [1] Group 2 - The valuation of the Hang Seng Internet ETF is currently at a price-to-earnings ratio (PE-TTM) of 22.87, which is in the 21.77% percentile over the past 10 years, indicating that the valuation is lower than 78.23% of the time in the last decade [1] - The index tracked by the Hang Seng Internet ETF is heavily weighted in sectors such as Media (40.94%), Retail (21.65%), Social Services (11.44%), Electronics (10.77%), and Computers (9.34%) [2] - In terms of sub-sectors, the index is concentrated in Internet E-commerce (21.65%), Digital Media (15.40%), Social II (14.91%), Local Life Services II (11.10%), and Consumer Electronics (10.77%) [2]

Group 1: Retail Industry Insights - The retail sector is a key focus for domestic demand in the "15th Five-Year Plan" period, with channel adjustments and emotional consumption driving growth [2] - The central economic work conference emphasizes the importance of retail, with expectations for leading regional retail companies to achieve strong performance in Q1 due to the long Spring Festival in 2026 [2] - Retail enterprises are accelerating their adjustment efforts, focusing on compensation mechanisms, supply chains, and customer engagement strategies [2] Group 2: Cross-Border E-Commerce Trends - The cross-border e-commerce sector remains optimistic, with significant potential for penetration growth, supported by product innovation and brand strength among leading companies [3] - By 2026, a decrease in tariff costs is expected to improve profit margins for most companies, while compliance development driven by tax audits will enhance industry standards [3] - The rise of AI tools in cross-border B2B enterprises is anticipated to further increase revenue [3] Group 3: Beauty and Personal Care Sector Developments - The A-share beauty and personal care sector is experiencing improved revenue growth and net profit margins, indicating a new phase of industry development [4] - Innovations in raw materials, such as plant extracts and biological fermentation, are becoming focal points for companies, with expectations for new applications by 2026 [4] - The integration of online and offline channels is becoming increasingly critical due to rising online advertising costs [4] Group 4: Investment Recommendations - Recommended investments in offline retail include Chongqing Department Store, Miniso, Dongfang Selection, and Kidswant [4] - Suggested stocks in the cross-border e-commerce chain include Small Commodity City, Focus Technology, Anker Innovations, Ugreen, and Sumida [4] - Beauty-related investment targets include Shiseido, Mao Ge Ping, Proya, Ruoyuchen, and Meili Tianyuan Medical Health [4] - AI-related investment opportunities include Konnect Optical and Aishide [4]

Group 1 - Anta Group is increasing its investment in the upcoming 2026 Milan Winter Olympics, providing equipment support for 13 Chinese national teams [1] - Anta's brands, including FILA and Descente, are collaborating with various national teams, focusing on developing professional competition and training gear [1] - The new equipment features significant technological advancements, such as a cutting-edge anti-cutting material developed in collaboration with academic institutions [1] Group 2 - The ice and snow sports market is currently not mainstream due to seasonal factors, which raises questions about the economic viability of Anta's investments in this sector [2][3] - Despite the challenges, the economic ecosystem around ice and snow events is forming, with technology from these events being integrated into consumer products [4] - The down jacket market in China has seen substantial growth, with a compound annual growth rate of 12.84% from 2019 to 2023, indicating a competitive advantage for sports brands like Anta [5] Group 3 - As ice and snow sports gain popularity, the market space is expected to grow, allowing Anta to launch consumer products based on national team technology [6] - This strategy highlights Anta's focus on cost optimization and value for consumers, enhancing its marketing approach [7]

Group 1 - WeChat's installation package has increased several hundred times over the past decade due to the addition of more features, but the company assures that it is continuously optimizing the app and that the package size will not grow indefinitely [4][5] - The Shanghai Narcotics Control Office clarified that caffeine, a natural alkaloid found in tea, is not a drug when consumed in moderation, and the caffeine content in products like Bawang Chaji is within acceptable limits [5] - Meta has announced the acquisition of AI company Manus to accelerate its AI innovation, with Manus previously valued at $2 billion during its latest funding round [6] Group 2 - Zhihui plans to globally issue 37,419,500 H-shares at a price of HKD 116.20 per share, with trading expected to start on January 8, 2026 [7] - Huayi Brothers and its representatives have been restricted from high consumption due to a court case involving 74.73 million yuan [8][9] - BYD has denied rumors about launching a flying car, stating there are no such plans [10] Group 3 - Qbit has issued over 7 million cards and processed over 53 million transactions, focusing on fund management capabilities as cross-border payment competition intensifies [10] - Chen Rui has resigned from his position at Bilibili eSports, with changes in the company's management structure [11] - The price of 25-year-old Flying Moutai has increased to 1,575 yuan per bottle, reflecting a rise of 15 yuan from the previous day [19] Group 4 - Seven Fresh Kitchen has launched a nationwide partner recruitment plan, aiming to cover all first- and second-tier cities by 2026 [20] - Leap Motor has entered into an agreement with FAW to issue nearly 75 million shares at a price of 50.03 yuan per share [21] - Waymo has been spotted testing its autonomous taxis in London, although the vehicle was not operating in autonomous mode during the observation [22] Group 5 - *ST Panda has been investigated by the China Securities Regulatory Commission for suspected violations of information disclosure laws [22] - The company "Boryu Bio" has completed over 100 million yuan in Series A financing to expand its global presence and enhance its biosafety testing platform [30] - "Weifengqi" has completed several million yuan in Series B financing to enhance its AI platform and market share [31]