Image source: Visual China
For the first time, Oriental Selection has disclosed detailed financial results since its release in June 2022.
The "Oriental Selection", which has attracted much attention from the outside world, has become the brightest sector in this financial report. For the six months ended November 30, 2022, the total merchandise transaction (GMV) of the live streaming e-commerce business was 4.8 billion yuan, and the number of orders paid on Douyin reached 70.2 million. During the period, the gross profit of self-operated products and live streaming e-commerce segment was approximately 750 million yuan, while the gross profit margin was 42.5%.
Unlike the sharp rise in the performance of Oriental Selection, the performance of its largest shareholder, New Oriental Education Group, is not so satisfactory.
During the six-month reporting period ended November 30, 2022, Oriental Selected has more than 60 kinds of self-operated agricultural products, bringing in revenue of more than 1 billion yuan, including different flavors of black pork grilled sausage, South American prawns, Wuchang rice, blueberry puree and other popular products. Oriental Selection GMV exceeded 4.8 billion yuan, and the total number of orders for self-operated agricultural products plus orders for third-party products reached 70.2 million.
According to the data, Oriental Selection Douyin matrix account has reached 38 million fans, a total of 6 live broadcast accounts, forming a live broadcast matrix to better meet the needs of different consumer target groups, and will gradually expand product categories and SKUs, including agricultural products, food, books and daily necessities.
At the same time, Oriental Selection will continue to establish and strengthen the product manager team, the product types and proportions of hot-selling products will continue to increase, and establish long-term mutually beneficial cooperative relations with third-party suppliers and manufacturers, relying on the development of Internet technology to further enhance the technical advantages of products.
"Oriental Selection" will also carry part of the education-related business
On January 2, 2023, the first special session of the Oriental Selection New Year brought goods, and on that day, the sales of Hainan characteristic products reached nearly 50 million yuan.
According to the financial report, in addition to the "self-operated products and live streaming e-commerce business" related to Oriental Selection, Oriental Selection, which will be renamed, also has three major sectors of business: university education, overseas exam preparation, and institutional cooperation.
Total revenue received from institutional clients decreased by 43.2% from RMB33.7 million for the six months ended November 30, 2021 to RMB19.2 million for the six months ended November 30, 2022.
(This article was first published on the titanium media APP, author| Li Chengcheng)