Tencent Finance "First Line" Author Zhu Yuting Editor Liu Peng On the evening of August 23, Oriental Selection announced its results for the 2024 fiscal year ending on May 31, 2024. Data shows that Oriental Selection’s total GMV is 14.3 billion yuan, a year-on-year increase

Tencent Finance "First Line"

Author Zhu Yuting Editor Liu Peng

On the evening of August 23, Oriental Selection announced its results for the 2024 fiscal year ending on May 31, 2024.

data shows that the total revenue of Oriental Selection was 14.3 billion yuan, a year-on-year increase of 43%; the total revenue reached 7.072 billion yuan, a year-on-year increase of 56.8%. Among them, the total revenue of self-operated products and live broadcast e-commerce business reached 6.5 billion yuan, an increase of 68.1% compared with 3.9 billion yuan in fiscal year 2023.

Yu Minhong, chairman and CEO of Oriental Selection, said: He is very confident in the future development of Oriental Selection. The strong growth of gmv and total revenue proves the resilience of the business model and the potential of self-operated products and live broadcast e-commerce business.

’s financial report shows that as of May 31, 2024, the total number of Dongfang Selection’s self-operated products and live broadcast e-commerce team reached 1,883 people, including 1,318 full-time people and 565 part-time people. The company's supply chain and product team has reached 830 people, including 565 full-time people and 265 part-time people.

Looking forward to the future, Oriental Selection stated that it plans to cooperate with New Oriental and other partners to pilot offline channel layout. In addition, Oriental Selection will launch the promotion of offline self-operated products in fiscal year 2025.

It is worth noting that this financial report also mentioned Dong Yuhui, the head anchor who officially announced his resignation on July 25 to pursue a solo career. The

announcement pointed out that from its establishment on December 22, 2023 to June 30, 2024, Hehui Peer achieved unaudited pre-tax profits of approximately 189 million yuan; net profit was approximately 141 million yuan. Among them, approximately 129 million yuan was allocated to Dong Yuhui and 12 million yuan was retained by the company. This award is also seen as a reward for Dong Yuhui's significant contribution to the company's success.

According to the financial report, on July 25, Xuncheng entered into a sale agreement with Dong Yuhui and Hehui Peer to transfer 100% of the equity of Hehui Peer to Dong Yuhui for a consideration of 76.58546 million yuan.