East buy (01797) once rose by over 7%, as of the time of writing, it rose by 4.5%, to 12.05 Hong Kong dollars, with a turnover of 87.4401 million Hong Kong dollars.
According to the Wisdom Financial APP, East buy (01797) once rose by over 7%, as of the time of writing, it rose by 4.5%, to 12.05 Hong Kong dollars, with a turnover of 87.4401 million Hong Kong dollars.
On the news front, on the evening of August 26, East buy issued a clarification statement. In response to the rumor of 'Yu Minhong cashing out 800 million at a high level', the company stated that Yu Minhong has never cashed out stocks personally since the listing of East buy, but has instead been increasing the shareholding of East buy stocks, and is full of confidence in the long-term development of the company. At the same time, the company stated that it has never been involved in any evaluation and attack against Dong Yuhui, and reiterated that all funds for Dong Yuhui's acquisition of 'Together with Hui' company, apart from all rewards for Dong Yuhui, have been arranged by New Oriental Education Group.
East buy recently announced its financial performance for the fiscal year ending in May, with a total revenue of 7.073 billion RMB, an increase of 56.8% year-on-year; a net profit of 1.72 billion yuan, a year-on-year increase of 77%. In the 2024 fiscal year, GMV increased by 43% to 14.3 billion yuan. Most of the GMV comes from Douyin, with 8.4% from the application. The total number of paid orders for third-party and self-operated products on Douyin increased from 0.136 billion in the previous fiscal year to 0.181 billion. Zhongjin pointed out that the company's 2024 fiscal year performance exceeded the bank's expectations, mainly due to the GMV exceeding expectations. Still bullish on the development prospects of the company's self-operated products and multi-channel strategy.