2025.08. 20 本文字数：1142，阅读时长大约2分钟 作者 | 第一财经 吕倩 微信编辑 | 苏小 叠加东方甄选持续投入自营品与供应链建设带来的利好影响，浙商证券认为，历经两年波折、公司经 营逐渐走回正轨，自营品发展符合新消费趋势且有拓展空间，均是当下开始关注东方甄选的底层逻 辑。基于此，东方甄选股价从2024年12月31日8.92港元的低点，涨502%至53.7港元。 但由于股价大涨带来的短线资金获利丰厚，据Wind数据，东方甄选卖空股数从7月21日开始上涨，8 月7日达到近半年来的高点。今日卖空股数自7日的582万股降至137万股，未平仓卖空股数3738万 股。 从业绩表现上，虽跌幅收窄，但东方甄选营收仍处下滑区间。据公司2025财年半年报，东方甄选持 续经营业务(自营产品及直播电商业务)净营收同比下滑9.3%。另外，公司虽在尝试由主播驱动向产 品驱动转型，但多位头部主播出走的影响尚在消化期。据第三方机构数据，今年以来，东方甄选销售 额平均值范围为750万元至1000万元，而与辉同行今年以来的销售额平均值范围为2500万元至5000 万元，东方甄选需要尽快建立有效的主播梯队与品牌运营模式，改善公 ...

Core Viewpoint - The article discusses recent market movements, focusing on specific companies such as Xizang Tianlu and Zhongguo Dianjian, highlighting their stock performance and strategic decisions, as well as the significant rise of companies like Shangwei New Materials and Dongfang Zhenxuan. Group 1: Xizang Tianlu and Zhongguo Dianjian - Xizang Tianlu announced a reduction of 25 million shares in Zhongguo Dianjian, generating a total transaction amount of 184 million yuan, resulting in a net profit of 45.75 million yuan, which accounts for approximately 43.87% of the company's projected net profit for 2024 [5][12]. - Since July, both Xizang Tianlu and Zhongguo Dianjian have seen significant stock price increases, with Xizang Tianlu rising by 104% and Zhongguo Dianjian by 33% [6]. - Xizang Tianlu's average selling price for the shares was 7.35 yuan per share, while Zhongguo Dianjian's closing price on August 5 was 6.42 yuan [7][8]. Group 2: Shangwei New Materials - Shangwei New Materials resumed trading and hit the daily limit, with its stock price surpassing 110 yuan, marking a cumulative increase of over 1300% in 17 trading days [15]. - The company reported a projected revenue of 783.77 million yuan for the first half of 2025, a 12.50% increase year-on-year, but a net profit decrease of 32.91% to approximately 29.90 million yuan [18][19]. Group 3: Dongfang Zhenxuan - Dongfang Zhenxuan's stock surged over 15%, accumulating a rise of over 135% since July [21]. - The company reported a GMV of 880 million yuan in June, a 28% year-on-year increase, with self-operated products contributing 350 million yuan, a 15% increase [24]. - The company is shifting focus towards self-operated products and enhancing its supply chain capabilities, moving away from reliance on individual influencers [24].