【导读】东方甄选连续两日暴跌，股价较上周高点接近"腰斩" 虽然公开辟谣，但近期东方甄选股价仍在持续走低。截至8月26日收盘，东方甄选股价为28.08港元/股，与上周高点相比，接近腰斩。 东方甄选，仍在"跌跌不休"。 8月26日，港股东方甄选开盘走低，临近尾盘跌幅扩大。截至当日收盘，东方甄选股价报28.08港元/股，跌幅为11.2%。 昨日，东方甄选以31.62港元/股收盘，跌幅为12.89%。东方甄选最近两日跌幅近23%，与8月19日高点的53.7港元/股相比，接近腰斩。 东方甄选股价连续大跌 高盛下调GMV预测 此前，东方甄选股价于8月19日创下近期新高，一度涨至53.7港元/股，随后高位跳水，当日收于34.32港元/股，振幅超45%。彼时有"小作文"称，新东方集 团CEO周成刚因关联交易被调查。盘后东方甄选迅速辟谣，并称"已启动报警和司法流程"。 对于近期东方甄选的股价大跌，不少股民表示"有点受伤" 在上周遭遇"绞杀"后，东方甄选近期股价仍未修复。 股价"跌跌不休"之际，东方甄选近期消息不断。 对于此前"小作文"中所言"东方甄选佣金率长期超30%"，东方甄选辟谣称，该说法严重失实，东方甄选实际平均佣金率不 ...

Core Viewpoint - Oriental Selection reported a significant decline in total revenue for the fiscal year 2025, with a total revenue of 4.4 billion yuan, down 32.7% from 6.5 billion yuan in fiscal year 2024, but managed to achieve a net profit of 6.2 million yuan after a loss in the first half of the year [1] Group 1: Financial Performance - The net profit for the fiscal year 2025 was 6.2 million yuan, a recovery from a net loss of 96.5 million yuan in the first half of the year [1] - Excluding the financial impact from the sale of Huixing, the net profit for the continuing operations was 135.4 million yuan, an increase of 30% year-on-year [1] - The gross margin for continuing operations improved from 25.9% in fiscal year 2024 to 32% in fiscal year 2025, attributed to the healthy development of self-operated products and live e-commerce [1] Group 2: Business Segments - The total GMV for self-operated products and live e-commerce in fiscal year 2025 was 8.7 billion yuan, a significant decrease from 14.3 billion yuan in fiscal year 2024 [1] - The total cost of revenue for continuing operations decreased from 4.8 billion yuan in fiscal year 2024 to 3 billion yuan in fiscal year 2025, a decline of 38.2%, mainly due to the decrease in GMV leading to lower inventory and logistics costs [1] Group 3: Market Position and Strategy - GMV from the Douyin platform still accounted for a large portion, while GMV from the Oriental Selection App increased its share from 8.4% in fiscal year 2024 to 15.7% in fiscal year 2025 [2] - The number of paid subscribers for the Oriental Selection App reached 264,300 in fiscal year 2025 [2] - Self-operated products accounted for approximately 43.8% of total GMV in fiscal year 2025, up from 40% in fiscal year 2024, with a total of 732 self-operated products launched [2] Group 4: Corporate Governance and Market Sentiment - The stock price of Oriental Selection has increased by over 200% since July [2] - There were rumors regarding the CEO of New Oriental Group being investigated for alleged misconduct, which Oriental Selection denied as baseless [2] - The company clarified that its average commission rate is below 20%, contrary to claims of exceeding 30% [2]