Core Viewpoint - Dongfang Zhenxuan reported a significant decline in revenue and changes in management, highlighting the impact of leadership changes on financial performance and investor sentiment [2][3]. Financial Performance - For the fiscal year 2025, Dongfang Zhenxuan achieved total revenue of 4.392 billion yuan, a year-on-year decrease of 32.7% [2]. - The net profit from continuing operations turned positive at 6.2 million yuan, compared to a net profit of 249 million yuan in the fiscal year 2024 [2]. - Administrative expenses increased by 22.5% to 484.8 million yuan, primarily due to the distribution of remaining undistributed profits to Dong Yuhui [2]. Management Changes - Dong Yuhui's departure has been a focal point, with CEO Yu Minhong indicating that Dong Yuhui would receive 50% of the net profit from the partnership, leaving 141 million yuan for future distribution [2]. - Recent rumors regarding the potential departure of CEO Sun Dongxu have been addressed, confirming that he is on leave but has not left the company [3]. Market Reactions - On August 19, Dongfang Zhenxuan's stock experienced significant volatility, with a drop of approximately 45% following rumors about management [6]. - The company issued a statement denying rumors about CEO Zhou Chenggang's involvement in any wrongdoing, which had caused investor panic [7][8]. Regulatory Environment - Concerns have been raised regarding potential regulatory changes affecting the live-streaming e-commerce sector, particularly regarding commission rates [7]. - Dongfang Zhenxuan clarified that its average commission rate is below 20%, countering claims that it exceeds 30% [8].

Group 1 - The core point of the news is the speculation regarding the departure of Sun Dongxu, the former CEO of Dongfang Zhenxuan, which has sparked public attention and discussions online [2] - Dongfang Zhenxuan issued a statement clarifying that Sun Dongxu is currently on vacation and has not left the company, and he has been working as a consultant since December 2023 [2] - The stock price of Dongfang Zhenxuan experienced significant volatility, dropping approximately 45% on August 19, with a near 24% increase followed by a decline of over 20% [5] Group 2 - There were rumors involving Zhou Chenggang, the CEO of New Oriental Education Technology Group, suggesting he was under investigation for alleged misconduct, which caused panic among investors [6] - Dongfang Zhenxuan issued a rebuttal stating that the rumors about Zhou Chenggang were false and that the claim regarding the company's commission rate exceeding 30% was also inaccurate, with the actual average commission rate being below 20% [7] - The company has initiated legal actions against the spread of these rumors and emphasized its commitment to high-quality and cost-effective products [7]

Core Viewpoint - New Oriental Education Technology Group's CEO, Zhou Chenggang, is rumored to be under investigation for allegedly misappropriating company interests through related-party transactions, leading to a significant drop in the stock price of Oriental Selection [1][4]. Group 1: Stock Market Reaction - Following the rumors, Oriental Selection's stock price fell by 20.89% to HKD 34.32, after previously reaching a two-year high of HKD 53.7, which represented a gain of over 23.5% [1][4]. Group 2: Company Response - New Oriental's founder, Yu Minhong, labeled the rumors as "complete nonsense" and stated that the company has initiated legal proceedings against the false claims [3][4]. - Oriental Selection issued a statement denying the allegations and confirmed that the average commission rate is below 20%, contrary to claims that it has been over 30% [6][9]. Group 3: Regulatory Context - The rumors surfaced amid concerns regarding potential regulatory changes affecting the live-streaming sales industry, which could impact Oriental Selection's business model if high commission rates are restricted [8].