According to the Zhitong Finance App, Oriental Selection (01797) announced the results for the year ended May 31, 2023. Net gross revenue from continuing operations and terminated operations increased 401.9% from RMB 899 million (same unit below) in FY2022 to 4.5 billion yuan in fiscal year 2023. Net revenue from continuing operations increased 651.0% from $600.5 million in fiscal year 2022 to $4.5 billion in fiscal year 2023. Net profit from continuing operations and terminated operations was $971 million in fiscal year 2023, while net loss in fiscal year 2022 was $534 million, turning loss into profit. Net profit from continuing operations was 971 million yuan in fiscal year 2023, while net loss in fiscal year 2022 was 71 million yuan, turning loss into profit. The basic profit per share was 0.97 yuan.
In addition to the rapid growth in the Group's total revenue and profit, the company is also particularly pleased to see that the company has actively pioneered and innovated during its transformation process over the past year. It has explored a great deal of transformation from a leading online extracurricular education service provider to a self-operated product and live streaming e-commerce company, and launched a series of high-quality new products, new content, and new live streaming events. Facing a broader race track, huge user demand, and a complex and varied market environment, the company insists on being customer-centric, insists on quality priority, built a more complete organizational structure to support the rapid development of more new businesses, and absorbed and cultivated outstanding talents in more fields of expertise.
As of May 31, 2023, the total number of self-operated products and live streaming teams reached 1103, of which the supply chain and product teams reached 346. Dongfang Selection's achievements are due to the maturity of China's social infrastructure and the care and support of all sectors of society. Thanks to New Oriental's 30-year brand foundation, long business history, and excellent corporate culture, Dongfang Selection saved a lot of brand and market launch costs in the early stages of establishment and development, and was able to use more resources to improve its core capabilities. During the reporting period, the company continued to invest a large amount of resources in products, services and content, and carried out a series of explorations and accumulations. Up to now, it has proved very meaningful. The company believes that these developments have all laid a solid foundation for Oriental selection and long-term sustainable development in the future.
Due to the company's ambition and persistence in creating value in the industry, it has attracted and retained a large number of talents, collaborators, fans and members. The GMV for fiscal year 2023 reached 10 billion yuan. However, GMV from Douyin accounts for the majority of the company's GMV. In fiscal year 2023, the total number of orders paid for third-party products and proprietary products on Douyin was 136 million.