Core Viewpoint - There are rumors regarding the CEO of New Oriental Group, Yu Minhong's long-time partner, Zhou Chenggang, being investigated by regulatory authorities for allegedly misappropriating company interests through related-party transactions, although the company has labeled this as "pure rumors" [1] Company Performance - Oriental Selection is set to release its full-year results for the fiscal year ending May 31, 2025, on August 22 [1] - For the fourth quarter of fiscal year 2025, Oriental Selection reported revenues of $150 million, representing a year-on-year decline of approximately 30%, although the decline rate has narrowed quarter-on-quarter [1] - The Non-GAAP operating profit was approximately 79 million RMB, with an operating profit margin of about 7%, showing a quarter-on-quarter improvement [1] - The company has shown continuous improvement in profitability despite challenges such as the departure of key hosts and the separation from Hui Tongxing [1] Industry Insights - Guosen Securities highlighted the "Sam's paradigm" in the current consumer market, which is characterized by diversified supply, transparent information, and rational demand [1] - Companies that can offer high-cost performance products and have a mature membership system, such as Sam's Club, Haidilao, and Oriental Selection, are expected to have enhanced advantages in this market context [1] - Recent operational improvements at Oriental Selection, including successful expansion into new product categories and enhanced quality of self-operated business growth, are seen as evidence of the growth logic for such companies [1]

Group 1 - Market rumors suggest that Zhou Chenggang, CEO Yu Minhong's long-time partner at New Oriental Group, is under investigation for allegedly misappropriating company interests through related party transactions, although the company has labeled this as "pure rumor" [1] - Oriental Selection is set to release its full-year results for the fiscal year ending May 31, 2025, on August 22, with the fourth quarter revenue for fiscal year 2025 estimated at $150 million, representing a year-on-year decline of approximately 30%, although the decline has narrowed quarter-on-quarter [1] - Non-GAAP operating profit for the same quarter is projected to be approximately 79 million RMB, with an operating profit margin of about 7%, showing a quarter-on-quarter improvement [1] Group 2 - Guosen Securities highlights the "Sam's Club paradigm" in the current consumer market, which is characterized by diversified supply, transparent information, and rational demand, suggesting that companies offering high-cost performance products with mature membership systems, like Oriental Selection, will have a competitive advantage [1] - Recent operational improvements at Oriental Selection include successful expansion into new product categories and enhanced quality of self-operated business growth, indicating a marginal improvement in operations [1] - The ongoing transition from a host-driven model to a product-driven model is recommended for attention, as it reflects the growth logic of companies in this sector [1]

Core Viewpoint - Oriental Selection (01797) experienced significant volatility in its stock price, initially rising over 23% before closing down approximately 9% at 39.5 HKD, with a trading volume exceeding 10% of its shares [1] Financial Performance - The company is set to release its full-year results for the fiscal year ending May 31, 2025, on August 22 [1] - For the fourth quarter of fiscal year 2025, Oriental Selection reported revenues of 150 million USD, reflecting a year-on-year decline of about 30%, although the decline rate has narrowed compared to the previous quarter [1] - The Non-GAAP operating profit was approximately 79 million RMB, with an operating profit margin of about 7%, showing a quarter-on-quarter improvement [1] Strategic Transition - Following the departure of key personnel and the separation from Huizhong, the company's profitability has shown continuous improvement [1] - Analysts suggest monitoring the company's transition from a host-driven model to a product-driven approach [1]

Core Viewpoint - Oriental Selection (01797) has shown a strong performance, with its stock price increasing over 230% since early July, and a current rise of 12.69% to HKD 39.42, with a trading volume of HKD 1.114 billion [1] Financial Performance - Oriental Selection is set to release its full-year results for the fiscal year ending May 31, 2025, on August 22 [1] - For the fourth quarter of fiscal year 2025, the company reported revenues of USD 150 million, reflecting a year-on-year decline of approximately 30%, although the decline rate has narrowed compared to the previous quarter [1] - The Non-GAAP operating profit was approximately RMB 79 million, with an operating profit margin of about 7%, showing a quarter-on-quarter improvement [1] Strategic Insights - The company has improved its profitability despite challenges such as the departure of key personnel and the separation from Huizhong [1] - Analysts suggest focusing on the company's transition from a host-driven model to a product-driven model [1] - Guosen Securities highlights the "Sam's Club paradigm" that emphasizes the importance of high-cost performance products and mature membership systems in a diversified and transparent consumer market [1] - Recent operational improvements and successful expansion into new product categories indicate a positive trend for Oriental Selection [1]

Group 1 - The stock price of Dongfang Zhenxuan (01797) has fallen over 6%, despite having doubled since early July, currently trading at 26.08 HKD with a transaction volume of 793 million HKD [1] - Recent consumer dissatisfaction has emerged regarding product adjustments at Sam's Club, leading to negative feedback on social media [1] - Hema's membership stores will cease operations, indicating a complete withdrawal from the membership store business that aimed to compete with Costco [1] Group 2 - Tianfeng Securities noted that Dongfang Zhenxuan possesses attributes of both shelf e-commerce and social e-commerce, aiming to establish itself as an online version of Sam's Club, potentially benefiting from market changes for secondary growth [1] - Zheshang Securities highlighted that Dongfang Zhenxuan, along with brands like Pang Donglai and Sam's Club, focuses on consumer-centric product development, offering high-quality and cost-effective products to meet health needs, which drives stable repurchase rates [1] Group 3 - New Oriental reported a revenue of 150 million USD for Q4 of fiscal year 2025, reflecting a year-on-year decline of approximately 30%, although the decline rate has narrowed compared to the previous quarter [1] - Non-GAAP operating profit was approximately 79 million RMB, with an operating profit margin of about 7%, showing a quarter-on-quarter improvement [1] - The company is experiencing an improvement in profitability following the separation from Huixing and the departure of key influencer Duan Duan, suggesting a transition from influencer-driven to product-driven strategies [1]

Core Viewpoint - Oriental Selection (01797) has experienced a significant stock price fluctuation, with a drop of over 6% recently, despite having doubled in price since early July. The current trading price is 26.08 HKD with a trading volume of 793 million HKD [1] Group 1: Market Reactions and Business Adjustments - Sam's Club has faced backlash on social media due to discrepancies between product adjustments and consumer expectations [1] - Hema's membership stores will cease operations, indicating a complete withdrawal from the membership store business that was intended to compete with Costco [1] Group 2: Company Performance and Strategy - Tianfeng Securities noted that Oriental Selection possesses attributes of both shelf e-commerce and social e-commerce, aiming to establish itself as an online version of Sam's Club, potentially leading to a second growth phase [1] - Zheshang Securities highlighted that Oriental Selection, along with brands like Pang Donglai and Sam's, focuses on consumer-centric product development, offering high-quality and cost-effective products to meet health needs, which drives stable repurchase rates [1] Group 3: Financial Results - New Oriental reported a revenue of 150 million USD for Q4 of the fiscal year 2025, reflecting a year-on-year decline of approximately 30%, although the decline rate has narrowed compared to previous quarters [1] - Non-GAAP operating profit was approximately 79 million RMB, with an operating profit margin of about 7%, showing a quarter-on-quarter improvement [1] - The company is undergoing a transformation from being driven by influencers to being product-driven, following the challenges of talent departures and business restructuring [1]