Core Viewpoint - Oriental Selection (1797.HK) experienced a significant stock price increase, closing up 10.68% at HKD 31.7, marking the highest price since August last year [1] Financial Performance - For the period ending November 25, 2025, the company reported total revenue of RMB 2.3 billion, a year-on-year increase of 5.7%, slightly below expectations [1] - Gross profit reached RMB 841.6 million, reflecting a year-on-year growth of 14.5% [1] - The profit attributable to shareholders was RMB 239 million, indicating a turnaround from losses in the previous year [1] Analyst Insights - Daiwa upgraded its outlook on the company post-earnings report, suggesting that operational challenges have been overcome, with growth driven by the development of proprietary brands, structural reduction in operating costs, and the opening of non-Douyin channels [1] - CICC raised its revenue forecasts for fiscal years 2026 and 2027 by 3.1% and 4.8% to RMB 5.19 billion and RMB 5.9 billion, respectively, due to enhanced management capabilities and operational efficiency [1] - CICC also increased its adjusted net profit forecasts for 2026 and 2027 by 80.2% and 32.1% to RMB 437 million and RMB 410 million, respectively, and raised the target price by 25% to HKD 30, maintaining an "outperform" rating [1]

Core Viewpoint - Oriental Selection (01797) has seen a significant stock price increase of over 6% in the afternoon, with a cumulative rise of nearly 40% following the release of its interim results for the period ending November 25, 2025 [1] Financial Performance - The company reported total revenue of 2.3 billion yuan, representing a year-on-year growth of 5.7% [1] - Profit attributable to owners reached 239 million yuan, marking a turnaround from a loss to profit [1] - Gross profit for the period was 841.6 million yuan, reflecting a year-on-year increase of 14.5% [1] Strategic Initiatives - The company is actively promoting a multi-live room and multi-anchor strategy, which is expected to enhance its operational performance [1] - There is a continuous development of high-margin self-operated products, contributing to improved gross margins [1] - The company possesses content advantages in the GEO marketing environment, which is anticipated to support further growth [1] Analyst Sentiment - Shenwan Hongyuan has a positive outlook on the company, noting that it has overcome operational challenges [1] - Daiwa has upgraded its view on the company post-earnings, highlighting the successful development of its own brand and structural reduction in operating costs [1] - The opening of non-Douyin channels is seen as a significant opportunity for revenue growth, improving the risk-return profile of the stock [1]

Core Viewpoint - New Oriental's financial performance for the second quarter of fiscal year 2026 shows significant growth, with net revenue increasing by 14.7% year-on-year to $1.191 billion, and operating profit rising by 244.4% to $66.3 million [1] Financial Performance - For the first half of fiscal year 2026, net revenue reached approximately $2.714 billion, a year-on-year increase of 9.7% - Operating profit for the same period was approximately $377 million, up 20.7% year-on-year - Net profit attributable to shareholders was approximately $286 million, reflecting a 3.2% year-on-year growth [1] Business Segments - Revenue from overseas exam preparation increased by approximately 4.1% year-on-year - Domestic exam preparation for adults and college students grew by about 12.8% year-on-year - New education business achieved a year-on-year growth of 21.6% - Non-academic tutoring courses have been launched in around 60 cities, attracting approximately 1.058 million students - The smart learning system and devices have been implemented in about 60 cities, with active paying users reaching approximately 352,000 [2] Strategic Initiatives - The company is focusing on enhancing core educational services, improving teaching quality and product standards, and optimizing cost structures and operational efficiency - A comprehensive cross-department customer service system has been initiated to enhance customer loyalty and retention, promote cross-department sales, and reduce customer acquisition costs [2] - The company is investing in AI technology and integrating it into existing educational products to improve operational efficiency and support for teaching teams [2] Shareholder Returns - The board has approved a cash dividend of $0.12 per ordinary share (or $1.20 per American Depositary Share), to be distributed in two installments as part of the fiscal year 2026 shareholder return plan - The first installment has been fully distributed, with the second installment to be announced later [3] Share Buyback Program - As part of the shareholder return plan, the company announced a share buyback program, authorizing up to $300 million in American Depositary Shares or ordinary shares over the next 12 months - As of January 27, 2026, approximately 1.6 million American Depositary Shares have been repurchased at a total cost of about $86.3 million [3] Future Outlook - The company expects net revenue for the third quarter of fiscal year 2026 (from December 1, 2025, to February 28, 2026) to be between $1.313 billion and $1.349 billion, representing a year-on-year growth rate of 11% to 14% [3]

Core Viewpoint - New Oriental's financial performance for the second quarter of fiscal year 2026 shows significant growth, with net revenue increasing by 14.7% year-on-year to $1.191 billion, and operating profit rising by 244.4% to $66.3 million [1] Financial Performance - For the first half of fiscal year 2026, net revenue reached approximately $2.714 billion, a year-on-year increase of 9.7% - Operating profit for the same period was approximately $377 million, up 20.7% year-on-year - Net profit attributable to shareholders was approximately $286 million, reflecting a 3.2% year-on-year growth [1] Business Segments - Revenue from overseas exam preparation increased by approximately 4.1% year-on-year - Domestic exam preparation for adults and college students grew by about 12.8% year-on-year - New education business achieved a year-on-year growth of 21.6% - Non-subject tutoring courses have been launched in around 60 cities, attracting approximately 1.058 million students [2] Strategic Initiatives - The company is focusing on enhancing core educational services and improving teaching quality and product standards - A comprehensive cross-departmental customer service system has been initiated to boost customer loyalty and retention, while also reducing customer acquisition costs [2] - The company is investing in AI technology and integrating it into existing educational products to enhance operational efficiency [2] Shareholder Returns - The board has approved a cash dividend of $0.12 per ordinary share (or $1.20 per American depositary share), to be distributed in two installments as part of the shareholder return plan for fiscal year 2026 [3] - A share buyback plan has been announced, authorizing the repurchase of up to $300 million of American depositary shares or ordinary shares within the next 12 months [3] Future Outlook - For the third quarter of fiscal year 2026, the company expects net revenue to be between $1.313 billion and $1.349 billion, representing a year-on-year growth rate of 11% to 14% [3]

Core Viewpoint - The article discusses the financial performance of Dongfang Zhenxuan (1797.HK) for the fiscal year 2025, highlighting significant declines in revenue and GMV, alongside a shift towards self-operated products as a growth strategy [3][4]. Financial Performance Summary - For the fiscal year 2025, Dongfang Zhenxuan reported a net revenue of 4.4 billion RMB, a decrease of 32.7% compared to 6.5 billion RMB in the previous fiscal year [3]. - The company's GMV fell by 39.2% from 14.3 billion RMB in fiscal year 2024 to 8.7 billion RMB in fiscal year 2025 [4]. - The net profit turned positive at 0.062 billion RMB, recovering from a loss in the first half of the fiscal year, but down from a net profit of 2.491 billion RMB in fiscal year 2024 [3][4]. Cost and Margin Analysis - Total revenue costs decreased by 38.2% to 3 billion RMB, driven by lower inventory and logistics costs due to reduced GMV [4]. - Gross profit declined from 1.7 billion RMB to 1.4 billion RMB, with the gross margin improving from 25.9% to 32% due to healthy operations in self-operated products and live e-commerce [4][5]. Strategic Developments - The company emphasized the importance of self-operated products, increasing the number from 488 in fiscal year 2024 to 732 in fiscal year 2025, which is seen as a key growth driver [5]. - A new cold chain warehouse, "Dongfang Zhenxuan Central China No. 1 Warehouse," has been launched to enhance the delivery service system [5]. - Dongfang Zhenxuan has entered into a framework agreement with New Oriental, its controlling shareholder, to sell self-branded products, with historical transaction amounts increasing from 0.15 billion RMB to a projected 1 billion RMB by fiscal year 2026 [5].