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Orient Securities fell more than 5% again, with Goldman Sachs saying the company's short-term growth outlook is unclear and investors are concerned about corporate governance.
AInvestWednesday, Jul 31, 2024 10:20 pm ET
1min read
GBUY --

Orient Select (01797) fell over 5%, down 5.16% at the time of writing, trading at HK$10.3, with a turnover of HK$61.51 million.

Goldman released a research report saying that the recent growth outlook of Orient Select became unclear after the resignation of Dong Yuhui and the sale of "With Hui", and the low operating leverage may further put pressure on the recovery of profitability. The report pointed out that the concerns about the corporate governance of Orient Select raised by investors mainly lie in attracting talents and the distribution of funds.

BOCOM International published a report saying that the sale of "With Hui" by Orient Select would have a negative impact on its short-term GMV and profits, and Chairman Yu Minhong would devote more energy to the daily operation of Orient Select and strengthen the management of negative issues. The company believes that it can return to normal operation after the public opinion is calmed down. The company reiterated its strategy of driving traffic and products, and may see closer platform cooperation, matrix expansion, diversified content and closer strategic synergy with New Oriental in the future, and conduct a pilot project of offline experience stores.

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