Oriental Selection develops a new platform.
On February 5, the official account of Oriental Selection announced that at 7 o'clock tonight, the live broadcast room of the "Official Video Account of Oriental Selection" will be launched for the first time. It will replay last night (February 4), writer Yu Shicun, CEO of Oriental Selection Yu Minhong, Anchor Feng Feng, the complete content of the interview in the Oriental Selection app.
This is also the first time that Oriental Selection has entered the video account. In this regard, a person familiar with the matter told The Paper that at present, Oriental Selection has no plans to live broadcast on the video account, but does not rule out changes in future arrangements.
On January 24 this year, Oriental Selection Holdings Co., Ltd. (01797.hk, hereinafter referred to as "Oriental Selection") disclosed a financial report that attracted widespread attention from the outside world. The phenomenon of "increasing revenue without increasing profits" was relatively obvious. Oriental Selection's mid-term total revenue was 2.795 billion yuan, a year-on-year increase of 34.4%; net profit was 249 million yuan, a year-on-year decrease of 57.4%; adjusted net profit reached 509 million yuan; basic earnings per share was 0.25 yuan, a year-on-year decrease of 56.9%.
It is worth noting that from the financial report data, gmv from Douyin still accounts for the majority of Oriental Selection’s revenue. Data shows that in terms of live broadcast e-commerce, Oriental Selection’s gmv (gross merchandise transactions) reached 5.7 billion yuan in the six months ending November 30, 2023, compared with 4.8 billion yuan in the same period last year. The total number of paid orders for third-party products and self-operated products on Douyin was 59.6 million, compared with 70.2 million in the same period last year.
In the conference call after the financial report, Yu Minhong once talked about the necessity of Oriental Selection to build its own app, "Without an app, you will not have your own home, and without your own home, you will always be a homeless person. Unless it becomes a product company, this Product company sales rely on channels, not promotion by ourselves. If we rely on ourselves to promote it, the app will become indispensable."
Yu Minhong revealed at the time that starting from the launch of the app in July 2023, Oriental The number of registered users of the selection app has reached 3.6 million. The number of registered users of the app is increasing at a rate of 5,000-8,000 people every day, and it basically does not cost much. The number of app downloads is even higher. At the same time, there are nearly 200,000 paid members of the app, and the average paid member spends about 800 yuan per month on Oriental Selection.
multi-platform development is a strategy that Oriental Selection has always adhered to. The Oriental Selection app will be launched in major app stores in August 2022. On July 3 last year, Oriental Selection announced the launch of a new version of its app and started live broadcasting at the same time as the Douyin live broadcast room. At that time, Oriental Selection’s Douyin live broadcast room was shut down by Douyin due to alleged illegal traffic diversion. At that time, it frequently appeared on Weibo’s hot searches, triggering heated discussions and causing many consumers to switch to its self-operated app for consumption. .
On August 24 last year, Oriental Selection also announced the launch of Taobao live broadcast, with Yu Minhong and "Oriental Little Grandson" Sun Dongxu personally leading the team for a full-day live broadcast.
