Jinwu Financial News | Oriental Selection (01797) announced that FY24H1's total revenue reached 2.8 billion yuan, up 34.4% year on year; realized net profit to mother of RMB 249 million, a decrease of 57.4% year on year; achieved adjusted net profit of 509 million yuan, a decrease of 15.5% year on year. The total revenue of FY24H1's self-operated products and live streaming e-commerce business was $2.41 billion, of which total revenue for proprietary products was about 1.9 billion yuan; gross profit of proprietary products and live e-commerce was 794 million yuan, with a gross margin of 32.9%. Y24H1 university education revenue was 365.7 million yuan, up 23.9% year on year, and gross margin was 77.6%; FY24H1 corporate customer revenue was 2 million yuan, down 49.6% year on year, and gross margin was 88.8%.

On November 24, '23, the company issued an announcement that it plans to allocate shares to the parent company, with a net raise of 1.63 billion yuan. After completion, the parent company's shareholding ratio will increase to 54.91% to 57.08%. On January 31, '24, New Oriental-S announced the termination of the subscription for Oriental Selected Shares under special authorization.

Huaan Securities said that although FY24Q3 opened a new live broadcast room with Hui, considering that FY24Q4 is expected to divest the education business, the company's FY24-26 revenue is expected to be 62.5/69.7/7.80 billion yuan, net profit to mother is 6.52/9.98/1,198 million yuan, and adjusted net profit to mother is 12.11/12.98/1,398 billion yuan, maintaining the “buy” rating.