东方甄选（01797）今日盘中大跌5.12%，引发市场关注。这一股价下跌与公司近期发布的2025财年财报密切相关。
根据财报显示，东方甄选2025财年（截至2025年5月31日）净利润仅为573.5万元人民币，同比大幅下降99.67%。公司营收也从上一财年的65.26亿元下降至43.92亿元，降幅达32.7%。这一业绩下滑主要受到公司与知名主播董宇辉分道扬镳的影响。数据显示，公司在抖音平台的已付订单数量从上一财年的1.8亿单下降至9160万单，GMV（商品交易总额）也从143亿元降至87亿元。
尽管面临挑战，东方甄选正积极调整战略，加大对自营品牌的投入。公司表示，若剔除出售与辉同行的财务影响，持续经营业务的净溢利实际增长30%至1.354亿元。同时，公司自营产品数量已超过700款，占总GMV的43.8%。此外，东方甄选也在努力拓展抖音以外的销售渠道，包括加强自有App和微信小程序的运营。然而，公司在去除对头部主播依赖后，如何稳定"腰部"主播梯队、提升自营品牌竞争力，以及增强用户黏性等问题，仍然是未来需要解决的关键挑战。
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