记者丨董静怡 编辑丨张伟贤 黎雨桐 董宇辉离开已经一年了，东方甄选走出来了吗？ | | 2025财年 | | | 2024 年 | | | --- | --- | --- | --- | --- | --- | | | 持續經營 已終止 | | | 持續經營 已終止(1) | | | | | | | 人的策業務 一經營業務 合併總計 2017 業務 20 經營業務 20 合併總計 人民幣千元 人民幣千元 | | | 绝蜜收 | 4.392.071 | = | 4.392.071 6.525.551 547.013 | | 7.072.564 | | 除税前利潤 | 60.745 | - | 60,745 433,725 1,588,354(2) 2,022,079 | | | | 年内溢利(3) | 6,191 | - | 6,191 249,145 1,470,36303 1,719,508 | | | | 以下人士愿佔年內溢利： | | | | | | | 一本公司撰有人 | 5.735 | - | 5,735 | 249,140 1,470,363(2) 1,719,503 | | | 一 来控制性權益 ...

新浪财经提供7*24小时财经资讯及全球金融市场报价,覆盖股票、债券、基金、期货、信托、理财、管 理等多种面向个人和企业的服务。 本文来自微信公众号： 新浪财经 ，作者：徐苑蕾，题图来自：视觉中国 8月22日晚间，东方甄选发布2025财年年报 （2024年6月—2025年5月） ，这也是董宇辉"单飞"后东 方甄选的首份年报。从业绩数据可以看到，董宇辉的离开对东方甄选的影响仍在持续。 2025财年全年，东方甄选持续经营业务收入44亿元，GMV为87亿元，同比分别下滑32.7%和39%， 跌幅均较2025财年中期进一步扩大。其持续经营业务净利润为620万元，同比暴跌97.5%。值得注意 的是，2025财年，东方甄选员工数量较上年同期减少了1/4。 《BUG》栏目统计发现，自去年8月至今年7月，东方甄选主账号多次跌出带货月榜前十，最低排名 为去年10月的第22位。相比之下，与辉同行却一直保持前三位置，且从去年11月起持续稳居榜首。 与此同时，东方甄选转型"线上山姆"之路仍面临供应链、渠道依赖与会员增长放缓的多重挑战。财报 数据显示，2025财年，东方甄选自有App的GMV在总GMV中占比为15.7%，此外每年199元 ...

Core Viewpoint - The departure of Dong Yuhui has significantly impacted Dongfang Zhenxuan's financial performance, leading to a notable decline in revenue and profit, but the company is making adjustments to its business model and focusing on self-operated products and live-streaming e-commerce for long-term growth [2][3][4]. Financial Performance - For the fiscal year 2025, Dongfang Zhenxuan reported total revenue of 4.4 billion yuan, a decrease of 32.7% from 6.5 billion yuan in fiscal year 2024 [2][4]. - The net profit for fiscal year 2025 was 6.2 million yuan, a significant drop from 250 million yuan in the previous year [2][4]. - In the first half of fiscal year 2025, the company experienced a net loss of 96.5 million yuan, but by the end of the fiscal year, it turned a profit of 6.2 million yuan [3][4]. Business Strategy - Dongfang Zhenxuan is shifting its focus from reliance on individual influencers to building supply chain capabilities, which is seen as essential for long-term development [3][4][7]. - The company aims to enhance its self-operated product offerings, with a total GMV of 8.7 billion yuan for fiscal year 2025, where self-operated products accounted for approximately 43.8% of total GMV [3][5]. Product Development - The company has launched 732 self-operated products in fiscal year 2025, up from 488 in the previous year, indicating a strong commitment to product development [5][6]. - Notable product successes include a cotton sanitary napkin that sold 180,000 units in two days and a frozen shrimp product that generated over 21 million yuan in sales [6]. Market Challenges - Despite progress in self-operated products, Dongfang Zhenxuan faces challenges in replicating the success of past star influencers, as the current mid-tier influencers lack the same level of audience engagement [7][8]. - The company is also working to develop its app and increase user engagement, with app-generated GMV at 1.37 billion yuan, accounting for 15.7% of total GMV [8][9]. Future Outlook - The company plans to enhance its marketing efforts, particularly offline, to increase brand awareness and customer acquisition, as many potential customers are still unaware of its product offerings [9]. - Dongfang Zhenxuan's transition to a model akin to "online Sam's Club" is still in development, and its success will depend on building a strong product and brand foundation [8][9].

（原标题：没有董宇辉的东方甄选，走出来了吗？） 21世纪经济报道记者 董静怡 董宇辉离开已经一年了，东方甄选走出来了吗？ 8月22日晚，东方甄选（1797.HK）公布 2024年6月1日至2025年5月31日的2025财年综合业绩。2025财 年，东方甄选持续经营业务（自营产品及直播电商业务）的总营收为44亿元，较2024财年的65亿元下降 32.7%。净利润为620万元，较2024财年的2.5亿元大幅下降。 这一年里，董宇辉的离开给东方甄选造成的影响在财报里显而易见。 不过，东方甄选自我调整的步伐并不算慢。2025财年上半年，东方甄选净亏损为9650.3万元，到财年底 已经实现了扭亏为盈。若剔除出售与辉同行的财务影响，2025财年净利润为1.4亿元，同比增加30%。 东方甄选行政总裁俞敏洪表示："2025财年我们所经历的挑战，进一步巩固和强化了东方甄选的核心商 业模式。我们以挑选优质产品的直播平台为中心，并以自营产品作为长期定位，进行了全面的布局。" 财报显示，东方甄选自营产品及直播电商业务的总GMV，在2025财年为87亿元，自营品占总GMV约 43.8%，App付费会员订阅数量达到26.43万人，App ...