"女鞋第一股"的漫长转型故事似乎终于到了终点。 近日，遥望科技发布公告称，拟在广东股权交易中心股份有限公司以挂牌方式转让持有的全资子公司佛山星期六鞋业有限公司100%股权，首日挂牌转让底 价不低于4.53亿元。 遥望科技在公告中表示，"近年来，公司鞋履业务继续拓展品牌联营联销业务规模，并继续缩减线下自营渠道。然而，新业务拓展尚未能完全化解转型过程 带来的经营压力，公司鞋类业务收入大幅下降，并持续出现亏损，对公司的经营业绩带来了较大压力。同时，公司为进一步推进经营战略，聚焦数字营销相 关业务发展，拟出售鞋类销售相关业务。" 此次剥离是遥望科技坚定转向"直播电商第一股"身份的最终宣言，背后的战略意图非常清晰：将全部资源聚焦于数字营销与电商直播核心主业。 星期六曾是国内第一家A股上市的女鞋企业，2009年上市当年，公司营收为8.8亿元，归母净利润为1.14亿元，一时风光无限。 至此，剥离鞋业业务、彻底清理历史包袱，已成为遥望科技轻装上阵、聚焦主业的必然选择。 从资本市场视角看，此次剥离让遥望科技的"故事"变得更加纯粹。过去，分析师在为其估值时，往往需要将持续亏损的鞋类资产作为"折扣项"进行剔除。而 现在，逻辑变得简 ...

Core Viewpoint - Oriental Selection (01797) has experienced a significant stock price fluctuation, with a drop of over 6% recently, despite having doubled in price since early July. As of the latest report, the stock is down 5.16% at HKD 26.08, with a trading volume of HKD 793 million [1]. Group 1: Market Reactions and Business Adjustments - Recent consumer dissatisfaction has emerged regarding Sam's Club's product adjustments, leading to criticism on social media [1]. - Hema's membership stores will cease operations, indicating a complete withdrawal from its Costco-like membership business [1]. Group 2: Company Strategy and Performance - Tianfeng Securities noted that Oriental Selection possesses attributes of both shelf e-commerce and social e-commerce, aiming to establish itself as an online version of Sam's Club, potentially leveraging market changes for further growth [1]. - Zheshang Securities highlighted that Oriental Selection, along with brands like Pang Donglai and Sam's, focuses on consumer-centric product development, offering high-quality and cost-effective products to meet health needs, which drives stable repurchase rates [1]. Group 3: Financial Performance - New Oriental reported its fourth-quarter earnings for the fiscal year 2025, with revenue of USD 150 million, reflecting a year-on-year decline of approximately 30%, although the decline rate has narrowed compared to the previous quarter [1]. - Non-GAAP operating profit was approximately RMB 79 million, with an operating profit margin of about 7%, showing a quarter-on-quarter improvement [1]. - The company is undergoing a transformation from being driven by influencers to focusing on product-driven strategies, following the challenges of talent departures and business restructuring [1].