Jan 20, 2023 11:00 AM (GMT+8) · EqualOcean
Dong Fang Zhen Xuan (Chinese: 东方甄选) recently released its earnings for the first half of the fiscal year 2023 (June 1, 2022, to November 30, 2022). Its gross merchandise volume from June to November 2022 reached CNY 4.8 billion (USD 708 million) and its total revenues were CNY 2.08 billion, up 262.7% from CNY 573 million in the same period of FY2022. Net profit from continuing and discontinued operations for the reporting period was CNY 585 million. Dong Fang Zhen Xuan, a live-streaming e-commerce platform selling agricultural products, books, and household goods, was launched in 2021 by Koolearn Technology Holding Ltd (Chinese: 新东方在线, HK01797). The platform became widely popular after its bilingual live-streaming went viral in China.