出圈後首份財報披露在即！新東方在線績前跌超8%，機構：有望迎來更重要的預期拐點
$新東方在線(01797.HK)$在此前獲較大漲幅後，今日股價有所回調。截至發稿，跌8.15%，報63.7港元，成交10.07億港元。值得注意的是，公司將於明日（1月17日）發佈財報。
東方甄選迴應董宇輝彩排的並非央視春晚
據浙江新聞報道，1月13日，從接近春晚直播項目人士處獲悉，春晚主會場直播的合作方將是新東方在線旗下東方甄選，該公司簽約主播董宇輝已經在彩排。此外，有部分遙望科技的簽約明星，將會在直播會場出鏡。
據媒體消息，記者就此事求證東方甄選方面，東方甄選App客服稱，並非央視春晚，而是1月14號的央視網絡春晚。
另據CCTV網絡春晚微博最新消息，確認董宇輝加盟中央廣播電視總檯2023網絡春晚。目前，董宇輝的活動海報已展出。
機構：本輪半年報有望迎來更重要的預期拐點
天風證券發佈研究報告稱，維持新東方在線“買入”評級，預計FY23-25年收入41.9/64.5/100.8億人民幣，調後歸母淨利潤9.6/13.9/21.8億。該行多次強調東方甄選核心競爭力在於差異化，差異化本質在於其戰略/人設/執行力所激活的品牌/場景/文化價值;短期增厚粉絲流量，豐富賬號及產品矩陣，形成更好共振;中長期看藉助影響力全面擴圈，完善品牌調性及核心人設，打開成長邊界。
報告中稱，出圈後首份財報披露在即，1月17日新東方在線將披露出圈後首份半年報，東方甄選FY23Q1(6-8月)及FY23Q2(9-11月)GMV分別達22億、28億，FY23H1GMV合計50億，市場將首次見證其盈利能力。半年報該怎麼看?1、數據趨勢已非常明朗;東方甄選9-11月GMV環比增長28%，其中自營佔比環比增長12pct至28%(僅抖音平臺，不算天貓京東及APP);該行預計東方甄選FY23Q2收入環比或增長30%+。此前新東方(在線母公司)FY23Q1財報前後該行也密集提示，通過少數股東損益測算在線單季盈利約3億人民幣；此後行情已經驗證市場認知不足，本輪半年報有望迎來更重要的預期拐點。
該行提到，市場擔心點或在於人才儲備及優惠券投放等，影響淨利率不及預期。該行認爲當前東方甄選處於加速成長期，投入系正常必要行爲，是爲更好發揮品牌及規模優勢;階段性淨利率不影響穩態判斷，戰略驗證及市場規模更爲重要。該行認爲，伴隨團隊運營持續成熟，淨利率處於上升通道。譬如將進酒GMV新高800萬便是印證，其已經具備賬號孵化及自營熱門產品打造的佈局思路及落地能力。
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