Financial Performance - Total net revenues for the year were approximately RMB 8,400.6 million (US$ 1,218.0 million), representing a decrease of 10.6% compared to RMB 9,396.3 million in 2021[49]. - Revenue from product sales decreased by 31.7% to RMB 2,644.2 million, while revenue from services increased by 4.2% to RMB 5,756.4 million, indicating a shift towards higher value-added services[49]. - The net loss for the year was approximately RMB 610.4 million (US$ 88.5 million), compared to a net loss of RMB 206.0 million (US$ 32.3 million) in 2021[60]. - The Group's largest customer accounted for 14.0% of total revenue, while the five largest customers accounted for 21.4%[195]. - The Group's largest supplier accounted for 29.7% of total purchases, with the five largest suppliers accounting for 59.0%[195]. Cash Flow and Assets - Baozun achieved a record annual operating cash flow of RMB 383 million in 2022, demonstrating strong business resilience despite challenging market conditions[10]. - The operating cash flow reached a record high, with non-GAAP income from operations totaling RMB 256 million for the fiscal year 2022[40]. - Current assets decreased by 19.6% from RMB 9,204.0 million (US$ 1,444.3 million) in 2021 to RMB 7,397.1 million (US$ 1,072.5 million) in 2022, while the current ratio improved from approximately 1.9 times to 2.0 times[61]. - Cash and cash equivalents decreased from RMB 4,606.5 million (US$ 722.9 million) in 2021 to RMB 2,144.0 million (US$ 310.9 million) in 2022, primarily due to the repurchase of convertible senior notes and share repurchases[66]. - Short-term loans decreased from RMB 2,288.5 million in 2021 to RMB 1,016.1 million (US$ 147.3 million) in 2022, with effective interest rates ranging from 3.1% to 4.1%[67]. Business Strategy and Growth - By the end of 2022, 42% of Baozun's brand partners engaged on an omnichannel basis, with value-added services revenue growing to approximately 50% of total revenue[7]. - The launch of the "Baozun Omni-Channel Digital Operating Platform" (BOCDOP) aims to enhance order fulfillment and provide data intelligence and decision support functionalities for brand partners[9]. - Baozun expanded its business scope into three major lines: Baozun e-Commerce (BEC), Baozun Brand Management (BBM), and Baozun International (BZI), with BBM focusing on long-term growth[10][12]. - The acquisition of Gap Greater China marks a significant milestone for Baozun Brand Management, leveraging technology and data-driven approaches for sustainable growth[12]. - The company aims to focus on growth and profitability through its Baozun Brand Management (BBM) segment, targeting mid-end and premium consumer lifestyle brands over the next three years[43]. Sustainability and Corporate Responsibility - Baozun is committed to sustainability, promoting green low-carbon operations and collaborating with supply chain partners to create a green e-commerce ecosystem[14]. - The company published the "Baozun Carbon Neutrality White Paper," outlining its dual carbon goals and sustainable development practices[40]. - The Company has established a zero-tolerance approach to violations of laws and regulations, implementing anti-corruption policies and whistleblowing channels[155]. Employee Development and Diversity - Baozun's employee development initiatives, including the upgraded "Baozun Campus," have earned recognition as a top employer for seven consecutive years[15]. - As of December 31, 2022, the Company achieved a gender diversity balance in senior management with 84 male (58.3%) and 60 female (41.7%) senior management personnel[144]. - The Company hired 14 employees with disabilities, promoting a barrier-free working environment[145]. - The Board aims to maintain at least the current level of female representation, with a goal of achieving gender parity in the future[140]. Governance and Leadership - The company has a strong board of directors with diverse backgrounds, including expertise in technology, finance, and operations, enhancing strategic decision-making[83][84][85][87][88][89]. - The Audit Committee consists of three independent Directors, with Ms. Bin Yu serving as chairlady, ensuring oversight of financial reporting and internal controls[127]. - The Company has adopted a conflicts of interest policy to manage potential conflicts among Directors[113]. - The Company will continue to review and enhance its corporate governance practices to ensure compliance with the CG Code[102]. Market Risks and Dependencies - The Group's financial condition and results of operations may be adversely affected if the e-commerce market in China does not grow as expected[176]. - The success of the Group is substantially dependent on the success of its brand partners, which poses a risk if any significant decline in their online sales occurs[182]. - The Group's ability to maintain relationships with e-commerce channels is crucial, as these channels have no obligation to continue business with the Group[188].

Baozun Inc. (NASDAQ:BZUN) Q4 2022 Results Conference Call March 22, 2023 8:00 AM ET Company Participants Wendy Sun - Senior Director, Corporate Development and Investor Relations Vincent Qiu - Chairman and Chief Executive Officer Arthur Yu - Chief Financial Officer Sandrine Zerbib - President of Brand Management Conference Call Participants Alicia Yap - Citi Violet Yi - China Renaissance Andre Chang - J.P. Morgan Sophia Tan - Credit Suisse Operator Good morning, ladies and gentlemen and thank you for standi ...

Revenue Performance - Service revenue reached RMB 5,756.4 million (USD 834.6 million), an increase of 4.2% compared to RMB 5,522.7 million in the fiscal year 2021, driven by growth in value-added services including digital marketing and technology services [2]. - Total net revenue for the fiscal year was RMB 2,553.2 million (USD 370.2 million), a decrease of 19.5% year-over-year, primarily due to a 37.2% decline in product sales [53][61]. - Total net revenue for the year ended December 31 was RMB 8,400.6 million (USD 1,218.0 million), a decrease of 10.6% compared to RMB 9,396.3 million in the fiscal year 2021 [70]. - The total Gross Merchandise Volume (GMV) was RMB 25,558.0 million, a year-over-year decrease of 1.7% [44]. - Non-Tmall transaction platforms accounted for approximately 29.8% of total GMV in Q4 2022, up from 26.1% in the same period last year [57]. - The online store operation revenue decreased by 27% year-over-year, contributing 50% to total net revenue in 2022 [62]. - Service revenue was RMB 1,780.8 million, down 8.3% from RMB 1,942.9 million year-on-year, attributed to a weak macro environment and the impact of COVID-19 on consumer sentiment [82]. Profitability and Losses - Net loss attributable to ordinary shareholders was RMB 653.3 million (USD 94.7 million), compared to a net loss of RMB 219.8 million in the fiscal year 2021 [7]. - The company reported a net loss of RMB 256.5 million (USD 37.2 million) for Q4 2022, compared to a net profit of RMB 3.1 million in the same period last year [39]. - The company incurred a loss of RMB 364.8 million (USD 52.9 million) related to the fair value of derivative liabilities in Q4 2022 [32]. - The net loss attributable to ordinary shareholders for Q4 2022 was RMB (284,269), compared to a loss of RMB (8,345) in Q4 2021 [143]. - Basic and diluted net loss per American Depositary Share (ADS) for Q4 2022 was RMB 4.84 (USD 0.70), compared to RMB 0.12 in the same period last year [42]. Operating Expenses and Costs - Fulfillment costs amounted to RMB 2,719.7 million (USD 394.3 million), up from RMB 2,661.1 million in the fiscal year 2021, primarily due to increased revenue from warehousing and logistics [4]. - The company reported a decrease in technology and content expenses to RMB 428.0 million (USD 62.0 million) from RMB 448.4 million in the fiscal year 2021, attributed to cost control measures and efficiency improvements [5]. - Total operating expenses were RMB 2,429.1 million, down from RMB 3,168.9 million in the same period last year [85]. - Sales and marketing expenses increased to RMB 2,674.4 million (USD 387.7 million) from RMB 2,549.8 million in the fiscal year 2021 [73]. - The cost of products sold was RMB 643.3 million (USD 93.3 million), down from RMB 1,043.6 million in the same period last year, primarily due to reduced product sales revenue [63]. Cash Flow and Financial Position - As of December 31, 2022, total cash, cash equivalents, restricted cash, and short-term investments were RMB 3,141.1 million (USD 455.4 million), down from RMB 4,699.8 million as of December 31, 2021, mainly due to repayment of convertible bonds and share repurchases [9]. - The company’s operating cash flow improved by RMB 367.1 million in 2022, partially offsetting the decrease in total cash [9]. - The company reported a total asset value of RMB 10,122,470 as of December 31, 2022, down from RMB 12,318,980 as of December 31, 2021, representing a decrease of approximately 17.8% [133]. - The company's cash and cash equivalents decreased to RMB 2,144,020 as of December 31, 2022, from RMB 4,606,545 as of December 31, 2021, a decline of about 53.5% [133]. - Total liabilities decreased from RMB 5,837.6 million as of December 31, 2021, to RMB 4,446.1 million as of December 31, 2022 [28]. Strategic Initiatives and Future Outlook - In February 2023, the company completed a strategic investment of USD 14 million for a 10% stake in Branded Lifestyle Asia Limited, gaining a board seat in the leading mid-to-high-end fashion retailer in Asia [10]. - The company plans to continue expanding its market presence and investing in new technologies and products to drive future growth [39]. - The company plans to enhance its business layout with three main business lines: Baozun E-commerce (BEC), Baozun Brand Management (BBM), and Baozun International (BZI) to capture growth opportunities over the next five years [49]. - The company expects to continue facing challenges in revenue growth and profitability in the upcoming quarters due to market conditions and operational adjustments [140]. Non-GAAP Financial Measures - The company utilizes several non-GAAP financial measures to assess its business performance, including operating profit (loss) and net profit (loss) attributable to ordinary shareholders [14]. - Non-GAAP operating profit for Q4 2022 was RMB 182.6 million (USD 26.5 million), a 157.2% increase year-over-year from RMB 71.0 million, with a non-GAAP operating profit margin of 7.2% [39]. - Non-GAAP operating profit was RMB 256.1 million (USD 37.1 million), with a non-GAAP operating profit margin of 3.0%, up from 2.4% in the fiscal year 2021 [121]. - Non-GAAP net profit attributable to ordinary shareholders was RMB 138.3 million (USD 20.0 million), an increase of 82.7% compared to RMB 75.7 million in the same period last year [115]. - Non-GAAP net profit attributable to ordinary shareholders was RMB 132.2 million (USD 19.2 million) for the fiscal year 2022, down from RMB 199.6 million in 2021 [123].

Exhibit 99.1 Baozun Announces Fourth Quarter and Fiscal Year 2022 Unaudited Financial Results SHANGHAI, China, Mar. 22, 2023 -- Baozun Inc. (Nasdaq: BZUN and HKEX: 9991) ("Baozun", the "Company" or the "Group"), a leading brand e-commerce solution provider and digital commerce enabler in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2022. Fourth Quarter 2022 Financial Highlights l Total net revenues were RMB2,553.2 million (US$ 370.2 million ...

Baozun Inc. (NASDAQ:BZUN) Q3 2022 Earnings Conference Call November 29, 2022 6:30 AM ET Company Participants Wendy Sun - Senior Director, Corporate Development and Investor Relations Vincent Qiu - Chairman and Chief Executive Officer Arthur Yu - Chief Financial Officer Tracy Li - Vice President, Strategic Business Development Conference Call Participants Alicia Yap - Citi Charlie Chen - China Renaissance Thomas Chong - Jefferies Wang Zhihao - CICC Operator Good morning, ladies and gentlemen and thank you fo ...

Financial Performance - Total net revenue for Q3 2022 was RMB 1,741.3 million (USD 244.8 million), a decrease of 8.3% year-over-year [6]. - Service revenue reached RMB 1,244.2 million (USD 174.9 million), an increase of 3.8% year-over-year [6]. - Gross Merchandise Volume (GMV) totaled RMB 18,632.1 million, representing a year-over-year increase of 15.9% [10]. - Online store operations generated RMB 845.0 million (USD 118.8 million) in revenue, accounting for 49% of total revenue, down 19% year-over-year [16]. - Product sales revenue decreased by 28.9% to RMB 497.1 million (USD 69.9 million) due to optimization of the distribution business and weak consumer demand in China [19]. - Total net revenue for the third quarter of 2022 was RMB 1,741.3 million (USD 244.8 million), representing an 8% decrease compared to RMB 1,898.8 million in the same period of 2021 [16]. - The company reported a net loss attributable to ordinary shareholders of RMB 168.9 million (USD 23.7 million), an improvement from RMB 292.5 million in the same period last year [6]. - Operating loss improved to RMB 26.3 million (USD 3.7 million), with an operating loss margin of 1.5%, compared to 8.2% in the same period last year [6]. - Non-GAAP operating profit was RMB 16.9 million (USD 2.4 million), compared to a non-GAAP operating loss of RMB 84.3 million in the same period last year [6]. - The company reported a comprehensive loss of RMB 73.375 million for the three months ended September 30, 2022, compared to a comprehensive loss of RMB 295.907 million in the same period of 2021, marking a 75.2% reduction [59]. Cash and Investments - Cash, cash equivalents, restricted cash, and short-term investments amounted to RMB 2,899.3 million (USD 407.6 million) as of September 30, 2022 [7]. - Cash and cash equivalents as of September 30, 2022, were RMB 2,292,079, a decrease from RMB 4,606,545 as of December 31, 2021 [44]. - The company repurchased 0.7 million ADS under its share repurchase plan during the third quarter, totaling approximately USD 6.1 million [28]. Company Developments - The company completed a dual primary listing on the Hong Kong Stock Exchange and NASDAQ on November 1, 2022, enhancing shareholder flexibility [11]. - The company aims to accelerate its transition to a technology-driven, omnichannel operator, supported by the recent acquisition of GAP in Greater China [11]. - The company plans to hold a conference call on November 29, 2022, to discuss earnings [29]. Non-GAAP Financial Measures - The company utilizes several non-GAAP financial measures to assess its business performance, including operating profit (loss) and net profit (loss) [32]. - Non-GAAP operating profit (loss) is defined as operating profit (loss) excluding stock-based compensation and amortization of intangible assets from business acquisitions [33]. - Non-GAAP net profit (loss) is defined as net profit (loss) excluding stock-based compensation, amortization of intangible assets, unrealized investment gains (losses), and other specified items [33]. - The company believes that non-GAAP financial measures provide useful information to investors for understanding and evaluating its current operating performance and future prospects [35]. - Non-GAAP financial measures may differ from those used by other companies, which could limit comparability [36]. - The company encourages a comprehensive review of its financial information rather than relying on a single financial measure [37]. Forward-Looking Statements - Forward-looking statements are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, indicating inherent risks and uncertainties [39]. - Factors that may cause actual results to differ from forward-looking statements include operational performance, business strategies, and market conditions [39]. - The company does not undertake any obligation to update forward-looking statements except as required by applicable law [39]. Shareholder Information - The company had a total of 161,583,506 shares issued and outstanding as of September 30, 2022, compared to 195,493,754 shares as of December 31, 2021 [50]. - The basic and diluted net loss per ordinary share for the three months ended September 30, 2022, was RMB 0.96, compared to RMB 1.33 for the same period in 2021, indicating a reduction of 27.8% [59]. - The weighted average number of ordinary shares used in calculating basic and diluted net loss per share for the three months ended September 30, 2022, was 176,164,018, down from 219,336,549 in 2021 [65].

Financial Performance - Total net revenues for Q3 2022 were RMB1,741.3 million (US$244.8 million), a decrease of 8.3% year-over-year[2] - Service revenues increased by 3.8% year-over-year to RMB1,244.2 million (US$174.9 million)[2] - Loss from operations improved to RMB26.3 million (US$3.7 million) from RMB156.5 million in the same quarter of 2021, with an operating margin of negative 1.5%[2][15] - Basic and diluted net loss per American Depositary Share (ADS) improved to RMB2.88 (US$0.40) from RMB4.00 in the same period of 2021[3][17] - The Company reported a non-GAAP net loss attributable to ordinary shareholders of RMB13.1 million (US$1.8 million), an improvement from RMB88.1 million in the same quarter of 2021[3][17] - Net loss attributable to ordinary shareholders of Baozun Inc. was RMB 168,858 for Q3 2022, compared to a net loss of RMB 292,506 in Q3 2021[38] - Non-GAAP net income for Q3 2022 was RMB 490, a significant improvement from a non-GAAP net loss of RMB 87,386 in Q3 2021[38] - Basic net loss per share attributable to ordinary shareholders was RMB (0.96) for Q3 2022, compared to RMB (1.33) for Q3 2021[38] Revenue Breakdown - Total Gross Merchandise Volume (GMV) was RMB18,632.1 million, an increase of 15.9% year-over-year[6] - Non-distribution GMV increased by 18.2% year-over-year to RMB18,073.1 million, driven by a 34.9% increase in service fee model GMV[6] - Product sales decreased by 29.0% to RMB 497,098 in Q3 2022 from RMB 699,645 in Q3 2021[33] - Services revenue increased by 3.8% to RMB 1,244,174 in Q3 2022 compared to RMB 1,199,120 in Q3 2021[33] Expenses and Liabilities - Total operating expenses rose to RMB 1,767,528 in Q3 2022, up 8.3% from RMB 2,055,290 in Q3 2021[33] - Share-based compensation expenses decreased to RMB 33,829 in Q3 2022 from RMB 66,421 in Q3 2021[35] - Total liabilities decreased to RMB 3,443,666 (approximately US$484,104) as of September 30, 2022, down from RMB 5,837,631 as of December 31, 2021[30] Assets and Equity - Cash, cash equivalents, restricted cash, and short-term investments totaled RMB2,899.3 million (US$407.6 million) as of September 30, 2022[5][18] - As of September 30, 2022, total current assets were RMB 6,634,877 (approximately US$932,716), a decrease from RMB 9,203,980 as of December 31, 2021[29] - Cash and cash equivalents decreased to RMB 2,292,079 (approximately US$322,215) from RMB 4,606,545 as of December 31, 2021[29] - The Company reported total assets of RMB 9,381,793 (approximately US$1,318,871) as of September 30, 2022, compared to RMB 12,318,980 as of December 31, 2021[30] - The Company’s total equity as of September 30, 2022, was RMB 4,524,209 (approximately US$636,002)[31] Shareholder Information - The Company completed a dual primary listing on November 1, 2022, enhancing flexibility for shareholders[7] - The Company has a total of 161,583,506 Class A ordinary shares issued and outstanding as of September 30, 2022[30] - The Company repurchased approximately 0.7 million ADSs for approximately US$6.1 million during Q3 2022 under its share repurchase program[19] Financial Reporting and Future Outlook - Non-GAAP net income (loss) attributable to ordinary shareholders of Baozun Inc. is used to evaluate financial performance, excluding certain expenses and gains[22] - The Company emphasizes the importance of non-GAAP financial measures for understanding ongoing business operations and future prospects[24] - The Company will host a conference call to discuss earnings on November 29, 2022, at 6:30 a.m. Eastern Time[20]

Financial Performance - Total net revenue for the six months ended June 30, 2022, was RMB 4,106.2 million (USD 613.0 million), a year-over-year decrease of 5.1%[10] - Operating loss was RMB 64.5 million (USD 9.6 million), compared to an operating profit of RMB 159.5 million in the same period last year, resulting in an operating loss margin of 1.6%[10] - Net loss attributable to ordinary shareholders was RMB 200.2 million (USD 29.9 million), compared to a net profit of RMB 81.0 million in the same period last year[10] - Non-GAAP operating profit was RMB 51.9 million (USD 7.8 million), down from RMB 237.4 million in the same period last year, with a non-GAAP operating profit margin of 1.3%[10] - Basic and diluted net loss per American Depositary Share (ADS) was RMB 3.15 (USD 0.47), compared to net profit per ADS of RMB 1.10 in the same period last year[11] - Non-GAAP net profit per ADS was RMB 0.04 (USD 0.01), down from RMB 2.87 in the same period last year[11] - The company reported unrealized investment losses of RMB 94.6 million (USD 14.1 million), up from RMB 54.6 million in the same period last year[33] - The company’s total operating expenses were RMB 4,170.7 million (USD 622.7 million), slightly up from RMB 4,165.1 million in the previous year[29] - The net loss attributable to Baozun Inc. shareholders was RMB 200.2 million (USD 29.9 million), compared to a net profit of RMB 81.0 million in the same period last year[34] - The basic and diluted net loss per American Depositary Share (ADS) was RMB 3.15 (USD 0.47), while the same period last year reported a profit of RMB 1.10 and RMB 1.08 per ADS[34] - The non-GAAP net profit attributable to Baozun Inc. shareholders was RMB 2.4 million (USD 0.4 million), down from RMB 212.1 million in the same period last year[34] Revenue Breakdown - Service revenue increased by 14.7% year-over-year to RMB 2,731.5 million (USD 407.8 million)[10] - Product sales revenue was RMB 1,374.7 million (USD 205.2 million), a decrease of 29.3% year-over-year, primarily due to optimization of the distribution business product structure[28] - Service revenue increased by 14.7% year-over-year to RMB 2,731.5 million (USD 407.8 million), driven by growth in warehousing and logistics services[28] - Total Gross Merchandise Volume (GMV) reached RMB 40,084.0 million, an increase of 38.4% year-over-year[14] - Non-distribution GMV was RMB 38,540.9 million, an increase of 43.8% year-over-year, with service fee model GMV growing by 82.9%[15] Cash and Assets - As of June 30, 2022, cash, cash equivalents, and restricted cash amounted to RMB 3,136.8 million (USD 468.3 million)[12] - As of June 30, 2022, the company's cash, cash equivalents, and restricted cash totaled RMB 3,136.8 million (USD 468.3 million), a decrease from RMB 4,699.8 million as of December 31, 2021[34] - Cash and cash equivalents as of June 30, 2022, were RMB 3,114,597 thousand, a decrease from RMB 4,606,545 thousand as of December 31, 2021, representing a decline of approximately 32%[46] - Total assets increased to RMB 12,318,980 thousand as of June 30, 2022, compared to RMB 10,078,147 thousand at the end of 2021, reflecting a growth of about 22%[49] - Total liabilities rose to RMB 5,837,631 thousand, up from RMB 4,043,197 thousand, indicating an increase of approximately 44%[49] - The company’s equity attributable to shareholders was RMB 4,896,359 thousand as of June 30, 2022, compared to RMB 4,461,563 thousand at the end of 2021, marking an increase of about 10%[49] Shareholder Actions - The company repurchased approximately 7.3 million ADS for about USD 61.9 million under a new share repurchase plan approved on March 25, 2022, with a maximum value of USD 80 million[35] - The board approved a share repurchase plan to enhance shareholder value and return capital to shareholders[35] Non-GAAP Measures - The non-GAAP operating profit (loss) excludes stock-based compensation and amortization of intangible assets from business acquisitions, allowing management to assess financial performance without these non-cash expenses[38] - The non-GAAP net profit (loss) also excludes stock-based compensation, amortization of intangible assets, and unrealized investment losses, providing a clearer view of operational performance[38] - The company emphasizes that non-GAAP financial measures should not be considered in isolation or as a substitute for GAAP measures, highlighting potential limitations in their use[41] - The company believes that using non-GAAP measures facilitates investor assessment of its financial and operational performance[38] Future Outlook - The company plans to continue focusing on expanding its service offerings and enhancing operational efficiency in the upcoming quarters[45]