Core Insights - Oriental Selection's self-operated probiotic products have surpassed other self-operated products to become the top seller in Q3 2025, marking a significant expansion into the health and nutrition sector [1] - The company has successfully transitioned from a focus on agricultural products and food to include nutritional health products, demonstrating substantial progress in product development and market validation [1][2] Group 1: Product Development and Sales - In Q3 2025, self-operated probiotics ranked first in GMV, showcasing rapid growth in this new category within just five months of launch [1] - The company launched its first nutritional dietary product in May 2024, officially entering the health product line, with a commitment to "real additives, trustworthy ingredients, public accessibility, and strict quality control" [1] - As of May 31, 2025, Oriental Selection has developed a total of 732 self-operated products, expanding from fresh food and snacks to include health supplements, pet food, and apparel [2] Group 2: Market Response and Consumer Demand - The launch of the probiotic product received enthusiastic market feedback, with multiple sell-outs and restocks, indicating strong consumer interest [1] - The probiotic product currently ranks first on Douyin's "Children's Probiotic Bestsellers List," highlighting the demand for high-quality, cost-effective nutritional products [1][2] - The sales success of the probiotics reflects consumers' growing demand for high-quality health products beyond traditional agricultural offerings [2]

Core Insights - Oriental Selection's self-operated probiotic products have surpassed other self-operated products to become the top seller in Q3 2025, marking a significant expansion into the health and nutrition sector [1][3]. Product Development - Historically, Oriental Selection's self-operated product rankings were dominated by agricultural products like milk and eggs, demonstrating their established capabilities in product development, management, and sales in the agricultural and food sectors [3]. - The self-operated probiotic product, launched in May 2025, achieved the highest sales in the self-operated product category within just five months, indicating rapid market penetration in this new area [3][6]. - As of May 31, 2025, Oriental Selection's self-operated product portfolio has expanded to 732 items, covering categories from fresh food and snacks to health and nutrition products, pet food, and apparel [6]. Market Response - The launch of the probiotic product received enthusiastic market feedback, with inventory selling out multiple times, and it currently ranks first on Douyin's "Children's Probiotic Bestsellers" list [6]. - The company emphasizes a commitment to quality in its nutritional products, adhering to principles of "real additives, trustworthy ingredients, public accessibility, and strict quality control" [3][4]. Future Outlook - Oriental Selection plans to continue expanding its product matrix, focusing on the development of nutritional food products, reflecting consumer demand for high-quality and cost-effective nutrition options [6].

Core Insights - Oriental Selection's self-operated probiotic products have surpassed other self-operated products to become the top seller in Q3 2025, marking a significant expansion into the nutritional health food sector [1][2] - The rapid success of the probiotic line, launched in May 2025, indicates a strong market response, with multiple sell-outs and restocks [1] - The company plans to continue expanding its product matrix, which currently includes 732 self-operated products across various categories [1] Group 1 - The achievement of the probiotic products reflects Oriental Selection's ability to diversify beyond its core agricultural and food offerings [2] - Consumer demand for high-quality and cost-effective nutritional products is driving the success of the new probiotic line [2] - The company is committed to focusing on the development of nutritional food categories in the future [2]

Core Viewpoint - The article discusses how Dongfang Zhenxuan managed to recover from significant losses and operational challenges following the departure of its key figure, Dong Yuhui, and explores the company's strategic shifts towards self-operated products and diversification of sales channels [2][6][20]. Financial Performance - In the first half of the 2025 fiscal year, Dongfang Zhenxuan reported a net loss of nearly 100 million yuan, a stark contrast to a net profit of 160 million yuan in the previous year when Dong Yuhui was still with the company [2][6]. - The company's gross merchandise volume (GMV), revenue, and net profit saw declines of 40%, 32.7%, and 97.5% respectively in the previous fiscal year [6]. - By the second half of the 2025 fiscal year, the company managed to turn a profit of 44.71 million yuan, indicating a recovery from the initial losses [2][14]. Stock Market Reaction - The stock price of Dongfang Zhenxuan experienced extreme volatility, with a single-day fluctuation of 20% before the annual report release in August [2][14]. - The company's market capitalization reached a peak of 40 billion yuan, comparable to major retail players like Yonghui Superstores and Dazhongdian [14]. Strategic Shifts - Following Dong Yuhui's departure, Dongfang Zhenxuan focused on expanding its self-operated product line, increasing the number of self-operated SKUs by 50% within a year [7][8]. - The company also sought to diversify its sales channels, moving beyond Douyin to platforms like Xiaohongshu and Pinduoduo, and investing in its own app to enhance customer engagement [8][20]. Market Positioning - Dongfang Zhenxuan aims to position itself as a "Chinese Sam's Club," adopting a membership model similar to that of Sam's Club, with a focus on high-quality, low-cost products [17][20]. - The company has established a membership fee of 199 yuan, with a current membership base of 264,200, although the renewal rate is only between 40% and 50% [17]. Challenges Ahead - The article highlights the difficulties faced by Dongfang Zhenxuan in replicating the success of Sam's Club, noting that the Chinese retail market is fragmented and dominated by smaller players [28]. - The company must navigate a competitive landscape where larger retailers hold significant market share, making it challenging to achieve economies of scale [28].

Market Overview - The Hong Kong stock market is experiencing a continuous adjustment, with the Hang Seng Index at 26,523 points, down 228 points, a decline of 0.85% [1] - The Hang Seng Tech Index is reported at 6,380 points, down 90 points, a decrease of 1.40% [3] New Listings - The newly listed company, Golden Leaf International Group (08549.HK), opened at HKD 3, up 500% from its issue price. In the previous day's dark trading, it surged by 900%. The public offering was oversubscribed by over 9,030 times, marking the highest oversubscription in Hong Kong's history. The company will maintain its planned public offering shares without activating the reallocation mechanism [5] - As of the latest update, Golden Leaf International Group is trading at HKD 3.14, reflecting an increase of 528% [6] - Another new listing, Zhida Technology (02650.HK), opened with a 168% increase, trading at HKD 180. The company focuses on electric vehicle charging solutions [5][8] Sector Performance - In the market, notable stocks showed mixed performance. ZTE Corporation rose over 2%, while China Life and Air China increased by over 1%. In the new consumption sector, Nayuki's Tea rose over 3%, and Pop Mart and Dongfang Zhenxuan increased by over 1% [8] - Conversely, tech stocks underperformed, with Alibaba down over 2%, Tencent down over 1%, and other companies like NetEase and JD.com also experiencing declines [8] Future Outlook - According to Cinda Securities, the trade tensions between the US and China are easing, with agreements to extend the 90-day tariff "truce" reached in mid-May. Additionally, the US Federal Reserve Chairman indicated a potential adjustment in policy stance due to changing risk balances, alongside weakening US employment data raising expectations for interest rate cuts. Despite the lack of improvement in corporate earnings in Hong Kong, the resurgence of AI-related stocks is expected to lead the market, with the Hang Seng Index potentially reaching 28,000 points ahead of important meetings in October [9]

Group 1 - The company, Dongfang Zhenxuan, announced an investment of RMB 50 million in a non-principal guaranteed financial product issued by China Minsheng Bank, with an expected annual return rate of 2.60% to 3.00%, maturing on December 1, 2026 [2] - Following this investment, the total principal amount of all non-redeemed financial products held by the company will reach RMB 230 million [2]

Core Viewpoint - Dongfang Zhenxuan (01797) announced the subscription of a wealth management product issued by China Minsheng Bank, with a principal amount of RMB 50 million and a non-principal guaranteed expected floating annual return rate of 2.60% to 3.00%, maturing on December 1, 2026 [1] Summary by Relevant Sections - Subscription Details - The company subscribed to a wealth management product with a principal amount of RMB 50 million [1] - The expected floating annual return rate is between 2.60% and 3.00% [1] - The maturity date of the product is set for December 1, 2026 [1] - Previous Subscriptions - Prior to this subscription, the company had already subscribed to other non-principal guaranteed floating return products [1] - The total principal amount of the subscriptions that have not yet been redeemed, including this new subscription, is RMB 230 million [1]

Core Viewpoint - Dongfang Zhenxuan (01797) has announced the subscription of a wealth management product issued by China Minsheng Bank, with a principal amount of RMB 50 million and a non-principal guaranteed expected annual return rate of 2.60% to 3.00%, maturing on December 1, 2026 [1] Group 1 - The company has subscribed to a wealth management product with a principal amount of RMB 50 million [1] - The expected annual return rate for the product is between 2.60% and 3.00% [1] - The maturity date for the subscribed product is December 1, 2026 [1] Group 2 - Prior to this subscription, the company had also subscribed to other non-principal guaranteed floating return products, with a total unredeemed principal amount of RMB 230 million [1] - The total unredeemed principal amount includes both the previous subscriptions and the current subscription [1]

Core Viewpoint - Dongfang Zhenxuan (01797.HK) has announced the subscription of a wealth management product issued by China Minsheng Bank, with a principal amount of RMB 50 million and a non-principal guaranteed expected floating annual return rate of 2.60% to 3.00% [1] Group 1 - The subscription date for the wealth management product is October 9, 2025, and the maturity date is December 1, 2026 [1] - Prior to this subscription, the company had already subscribed to other non-principal guaranteed floating return products, with a total unredeemed principal amount of RMB 230 million as of the subscription date [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） 有關認購理財產品的須予披露交易 董事會宣佈，於2025年10月9日，本集團認購由中國民生銀行發售的理財產品， 本金額為人民幣50百萬元（「認購事項」），其非保本預期浮動年化回報率為2.60% 至3.00%，到期日為2026年12月1日。於認購事項前，本集團亦已認購以下於認購 事項日期尚未贖回的非保本浮動回報產品（「尚未贖回認購事項」），而尚未贖回認 購事項及認購事項的尚未贖回本金總額為人民幣230百萬元。尚未贖回認購事項 的詳情載列如下。 | | | | | | 日期的尚未 | | --- | --- | --- | --- | --- | --- | | 序號 | 認購日期 | 本金額 | 預期回報率 | 到期日 | 贖回本金額 | | | | （人民幣百萬元） | | | ...