消息方面，8月26日晚间，东方甄选针对近期流传的“俞敏洪高位套现8个亿”的不实传闻发布正式声明，明确表示公司创始人俞敏洪自东方甄选上市以来，不仅没有进行任何股票套现，反而一直在增持公司股票。①What rumors did East Buy clarify? ②How is the company's recent performance? ③How do institutions view the company's future performance?
On August 27, Caixin reported (Editor Hu Jiarong) that after clarifying the false rumors of 'Yu Minhong cashing out 800 million yuan at a high position' last night, the share price of East Buy(01797.HK) rose nearly 7% in today's trading. As of the time of writing, it has risen 3.63%, reaching 11.98 Hong Kong dollars.
Note: Performance of East Buy
Regarding the recent spread of false rumors that 'Yu Minhong cashed out 800 million yuan at a high position', East Buy issued a formal statement in the evening of August 26, making it clear that since the listing of East Buy, the founder Yu Minhong has not only not cashed out any stocks, but has also been increasing his shareholding of the company's stocks.
Regarding the rumors of 'Dong Yuhui using reward money to buy back with Hui' and 'Dong Yuhui buying the company and having to pay 6 million', East Buy emphasized that Yu Minhong clearly stated at the shareholder communication meeting on July 26 that all the funds used by Dong Yuhui to acquire the company 'With Hui' had been arranged by New Oriental Education Group in addition to all of Dong Yuhui's rewards.
Attractive performance of East Buy in the 2024 fiscal year.
The 2024 fiscal year performance report recently released by East Buy shows that the total revenue of the company reached 7.073 billion RMB, a year-on-year increase of 56.8%; net profit reached 1.72 billion yuan, a year-on-year increase of 77%. This achievement not only exceeded market expectations, but also demonstrated the strong growth momentum of the company in the e-commerce sector.
During the same period, East Buy's GMV (Gross Merchandise Volume) reached 14.3 billion yuan, a year-on-year increase of 43%, with the 'East Buy Self-operated Products' Douyin account's GMV exceeding 0.1 billion yuan for multiple consecutive months.
East Buy also plans to launch offline self-operated product promotions in the 2025 fiscal year, and collaborate on offline strategies with New Oriental, with a pilot in Beijing in the second half of 2024 and gradual expansion nationwide.
Institutions are optimistic about East Buy's e-commerce business in the long term.
In its latest research report, China International Capital Corporation (CICC) stated that despite potential short-term growth challenges from key anchor streamers leaving East Buy, they remain optimistic about the long-term development prospects of the company's self-operated products and multi-channel strategies. Therefore, CICC maintains an "outperform the industry" rating for East Buy and keeps the target price at 11.5 Hong Kong dollars.
Considering that the rate of increase in the proportion of self-operated products in the company's total sales may be slightly lower than previously expected, CICC has moderately lowered its revenue forecast for East Buy in 2025 and 2026. Specifically, the revenue forecast for 2025 has been reduced by 2.8% to an estimated 5.7 billion yuan; the revenue forecast for 2026 has been lowered by 1.7% to an estimated 6.3 billion yuan.