Financial Performance - Total net revenue for the reporting period was RMB 4,370.8 million (USD 601.4 million), an increase of 3.9% year-over-year [2] - Operating loss for the period was RMB 73.6 million (USD 10.1 million), compared to RMB 77.1 million in the same period last year, with an operating loss margin of 1.7% [2] - Adjusted operating profit for the e-commerce business was RMB 72.0 million (USD 9.9 million), down from RMB 86.1 million in the previous year [3] - Net loss attributable to ordinary shareholders was RMB 97.3 million (USD 13.4 million), compared to RMB 103.6 million in the same period last year [3] - Total net revenue for the six months ended June 30, 2024, was RMB 4,370,764, an increase from RMB 4,207,957 for the same period in 2023, representing a growth of approximately 3.86% [8] - The company reported a net loss attributable to ordinary shareholders of RMB 97,257 for the six months ended June 30, 2024, compared to a net loss of RMB 103,575 for the same period in 2023, reflecting an improvement of about 6.5% [9] - The total comprehensive loss for the six months ended June 30, 2024, was RMB 20,026, compared to RMB 17,172 for the same period in 2023, reflecting an increase in comprehensive loss of about 10.8% [10] - The net loss attributable to non-controlling interests for the six months ended June 30, 2024, was RMB 10,050, up from RMB 4,791 for the same period in 2023, indicating an increase of about 109.5% [10] Cash and Investments - Cash, cash equivalents, restricted cash, and short-term investments totaled RMB 2,853.3 million (USD 392.6 million) as of June 30, 2024, down from RMB 3,072.8 million as of December 31, 2023 [3] - Cash and cash equivalents decreased from RMB 2,149,531 as of December 31, 2023, to RMB 1,454,517 as of June 30, 2024, a decline of approximately 32.4% [4] - The company’s short-term investments increased from RMB 720,522 as of December 31, 2023, to RMB 1,156,066 as of June 30, 2024, an increase of approximately 60.5% [4] - The net accounts receivable decreased from RMB 2,184,729 million as of December 31, 2023, to RMB 1,842,127 million as of June 30, 2024 [19] - Cash and cash equivalents were approximately RMB 1,454.5 million (USD 200.1 million) as of June 30, 2024, remaining stable compared to the previous period [54] Assets and Liabilities - Total assets decreased from RMB 10,474,476 as of December 31, 2023, to RMB 9,943,736 as of June 30, 2024, a reduction of about 5.08% [4] - Total liabilities decreased from RMB 4,622,740 as of December 31, 2023, to RMB 4,075,435 as of June 30, 2024, a decline of approximately 11.85% [5] - Total current assets decreased from RMB 7,290,784 as of December 31, 2023, to RMB 6,881,636 as of June 30, 2024, a decline of about 5.6% [4] - Accounts receivable (net of credit loss provisions) decreased by 15.7% to RMB 1,842.1 million (USD 253.5 million) as of June 30, 2024 [52] - Total accounts payable decreased from RMB 563,562 million as of December 31, 2023, to RMB 439,635 million as of June 30, 2024 [22] Operational Efficiency - The company’s operating expenses for the six months ended June 30, 2024, were RMB 4,444,317, compared to RMB 4,285,023 for the same period in 2023, indicating an increase of about 3.72% [8] - The company’s gross profit margin for the six months ended June 30, 2024, was approximately 10.5%, compared to 11.5% for the same period in 2023, reflecting a decrease of about 1 percentage point [8] - Sales and marketing expenses increased by 18.4% to RMB 1,538.7 million, driven by more aggressive performance-driven digital marketing activities [44] - Fulfillment costs decreased by 4.3% to RMB 1,173.3 million due to cost control measures and efficiency improvements [43] - Management and administrative expenses decreased by 15.0% to RMB 350.7 million (USD 48.3 million), reflecting cost control measures and efficiency improvements [46] Business Strategy and Expansion - The company continues to focus on expanding its e-commerce and brand management segments following the acquisition of Gap (Shanghai) Commercial Co., Ltd. [3] - The company plans to open over 50 new GAP stores this year while optimizing store structure and location strategies [32] - The company aims to open more "premium" community stores to drive business and improve profitability, leveraging local strategic partnerships for faster store openings [34] - The company plans to expand into high-potential categories such as alcohol, health and beauty, and automotive in 2024 [38] - The company has established operations in 8 markets, including Hong Kong, Taiwan, Singapore, Malaysia, the Philippines, Thailand, France, and South Korea, by June 30, 2024 [37] Technology and Innovation - The company continues to invest in new technologies and infrastructure to provide innovative and reliable solutions for brand partners [30] - Enhanced supply chain capabilities were implemented to better meet customer demands, including advanced fabric planning that significantly reduced production costs in Q2 2024 [35] - The company aims to leverage its digital capabilities to seamlessly integrate online and offline channels for brand empowerment [38] Shareholder Information - Basic and diluted net loss per American Depositary Share (ADS) was RMB 1.61 (USD 0.22), compared to RMB 1.75 in the same period last year [3] - The company does not recommend any interim dividend for the six months ended June 30, 2023, and 2024 [25] - The company repurchased 3,543,606 shares for a total of USD 2.9 million during the six months ended June 30, 2024 [26] - The company repurchased a total of 1,181,202 American Depositary Shares (ADS) during the reporting period, with a total consideration of $2,878,951 [66] Governance and Compliance - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange listing rules, ensuring high standards of corporate governance [64] - The independent auditor has reviewed the unaudited interim financial results, confirming compliance with relevant accounting standards [68] - The board of directors includes several members, indicating a diverse leadership structure to guide the company's strategic decisions [75] Non-GAAP Financial Measures - The company utilizes non-GAAP financial measures to assess operational performance, excluding stock incentive expenses and other related costs [70] - The company emphasized that non-GAAP financial measures are used to assess operational performance without the impact of non-cash expenses such as share-based compensation and intangible asset amortization [71] - The company acknowledged that non-GAAP financial measures have limitations and should not be considered as alternatives to GAAP measures [72] - The company aims to provide investors with a clearer understanding of its operational performance and future prospects through the use of non-GAAP financial measures [71]

Financial Performance - Baozun Inc. reported total net revenue of RMB 2,391.0 million (USD 329.0 million) for Q2 2024, representing a year-over-year increase of 3.1% from RMB 2,320.2 million in Q2 2023[2]. - The operating loss narrowed to RMB 18.8 million (USD 2.6 million) in Q2 2024, compared to RMB 36.4 million in the same period last year, resulting in an operating loss margin of 0.8%[2]. - Non-GAAP operating profit for Q2 2024 was RMB 10.0 million (USD 1.4 million), a significant improvement from RMB 0.7 million in Q2 2023, with a non-GAAP operating profit margin of 0.4%[2]. - The net loss attributable to ordinary shareholders was RMB 30.6 million (USD 4.2 million), a reduction from RMB 20.0 million in Q2 2023[3]. - Total net revenue for Q2 2024 was RMB 2,391.0 million (USD 329.0 million), a 3.1% increase from RMB 2,320.2 million in the same period last year[6]. - Operating loss for the three months ended June 30, 2024, was RMB 18,773, an improvement from a loss of RMB 36,437 for the same period in 2023[24]. - Net loss attributable to ordinary shareholders for the three months ended June 30, 2024, was RMB 30,620, compared to RMB 20,028 for the same period in 2023, reflecting an increase in losses of approximately 52%[25]. - Basic and diluted net loss per ordinary share for the three months ended June 30, 2024, was RMB 0.17, compared to RMB 0.11 for the same period in 2023[25]. Revenue Breakdown - E-commerce service revenue grew by 10.4% year-over-year, with double-digit growth in online store operations for sports apparel and digital marketing services[4]. - E-commerce product sales revenue was RMB 579.2 million (USD 79.7 million), down 4.4% from RMB 606.1 million year-over-year, primarily due to optimization of the product mix[6][7]. - Service revenue reached RMB 1,520.7 million (USD 209.3 million), a 9.4% increase from RMB 1,389.9 million in the previous year, driven by double-digit growth in digital marketing and technology services[8]. - The brand management segment generated product sales revenue of RMB 292.3 million (USD 40.2 million), a decline of 9.8% from RMB 324.2 million year-over-year, mainly due to weak offline traffic[7]. - Product sales for the e-commerce business and brand management were RMB 579.2 million and RMB 292.3 million, respectively, for the three months ended June 30, 2024, compared to RMB 606.1 million and RMB 324.2 million for the same period in 2023, indicating a decline of about 4.4% and 9.8%[25]. Operating Expenses and Losses - Operating expenses totaled RMB 2,409.8 million (USD 331.6 million), compared to RMB 2,356.6 million in the same period last year[9]. - Total operating expenses for the three months ended June 30, 2024, were RMB 2,409,767, slightly higher than RMB 2,356,598 for the same period in 2023[24]. Cash and Investments - Cash and cash equivalents, restricted cash, and short-term investments totaled RMB 2,853.3 million (USD 392.6 million) as of June 30, 2024, down from RMB 3,072.8 million at the end of 2023[3]. - The company's cash and cash equivalents decreased to RMB 1,454,517 thousand as of June 30, 2024, compared to RMB 2,149,531 thousand as of December 31, 2023, reflecting a decline of approximately 32.4%[21]. - The company's short-term investments increased to RMB 1,156,066 thousand as of June 30, 2024, from RMB 720,522 thousand as of December 31, 2023, representing a growth of about 60.5%[21]. Share Repurchase and Equity - The company has repurchased approximately 2 million American Depositary Shares for a total payment of about USD 4.9 million, reflecting confidence in future growth prospects[2]. - The company authorized a new share repurchase program on January 24, 2024, allowing for the repurchase of up to $20 million worth of American Depositary Shares and/or Class A ordinary shares[14]. - As of August 28, 2024, the company repurchased approximately 2.0 million American Depositary Shares for a total of about $4.9 million, leaving a remaining authorization of $15.1 million[14]. - The company reported a total equity of RMB 4,223,124 as of June 30, 2024, compared to RMB 4,266,878 as of December 31, 2023, indicating a decrease of approximately 1%[23]. Assets and Liabilities - As of June 30, 2024, the total assets of Baozun e-Commerce Co., Ltd. amounted to RMB 9,943,736 thousand, a decrease from RMB 10,474,476 thousand as of December 31, 2023[21]. - Total liabilities decreased to RMB 4,075,435 thousand as of June 30, 2024, down from RMB 4,622,740 thousand as of December 31, 2023, indicating a reduction of about 11.8%[22]. - The total current liabilities as of June 30, 2024, were RMB 3,351,456 thousand, a decrease from RMB 3,757,960 thousand as of December 31, 2023, indicating a reduction of approximately 10.8%[22]. Strategic Focus and Future Outlook - The company focuses on brand empowerment through strategic positioning, brand marketing, e-commerce operations, and supply chain management, currently managing brands like Gap and Hunter in Greater China[13]. - The company plans to continue focusing on product innovation and market expansion strategies to drive future growth[24].

• 非公認會計準則下歸屬於寶尊電商有限公司普通股股東的淨虧損4為人民幣 15.4百萬元（2.1百萬美元），2023年同期為人民幣13.1百萬元。 上述提及之公認會計準則財務指標與非公認會計準則財務指標的調節見本業績公 告下文。 業務亮點 寶尊品牌管理(BBM) 總淨營收為人民幣1,979.8百萬元（274.2百萬美元），較去年同期的人民幣1,887.8 百萬元增長4.9%。總淨營收的增長主要由於寶尊品牌管理的產品銷售收入較去年 同期增長65.6%。 | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------|-----------------|-------------------|-------|-----------------------|-------------------------------------------------------|-------------------|---------------| | | 2023 \n人民幣 | 總淨營收 \n佔比 % | | 截至 3 月 31 \ ...

Baozun Inc. 寶尊電商有限公司* ( 於開曼群島註冊成立以不同投票權控制的有限責任公司 ) 股份代號 : 9991 2023 年度報告 | --- | --- | |----------------------|-------| | | | | | | | 主席報告 | 2 | | 釋義 | 4 | | 公司資料 | 9 | | 有關不同投票權的資料 | 11 | | 管理層討論及分析 | 13 | | 董事及高級管理層履歷 | 25 | | 企業管治報告 | 30 | | 董事會報告 | 45 | | 獨立核數師報告 | 84 | | 綜合資產負債表 | 89 | | 綜合經營報表 | 92 | | 綜合全面收益表 | 94 | | 綜合股東權益變動表 | 95 | | 綜合現金流量表 | 96 | | 綜合財務報表附註 | 99 | | 財務概要 | 158 | 主席報告 提升價值主張 2023年2月，寶尊品牌管理達成重要里程碑，成功收購Gap大中華區業務。短短數月以來，寶尊品牌管理在鞏 固業務根基方面取得顯著進展，其中包括打造本地化產品及營銷策略、重塑供應鏈及基礎設施、升級改造後 端IT系統， ...

Baozun Inc. 寶尊電商有限公司* （於開曼群島註冊成立以不同投票權控制的有限責任公司） （股份代號：9991） 寶尊電商有限公司（「寶尊」或「本公司」）董事（「董事」）會（「董事會」）謹此宣佈本 公司及其附屬公司（「本集團」或「我們」）截至2023年12月31日止年度（「該年度」） 之年度未經審核綜合業績，連同截至2022年12月31日止年度之比較數字。該等未 經審核綜合業績已根據美國公認會計準則（「美國公認會計準則」）編製並經本公司 審核委員會（「審核委員會」）審閱。 1 3 非公認會計準則下歸屬於寶尊普通股股東的淨利潤（損失）為一項非公認會計準則財務計 量，其定義為撇除股份激勵費用、業務收購產生的無形資產攤銷、收購相關費用、商譽和 投資減值、預期或有收購付款的差異損失、回購的美國存託股和返還的美國存託股的註 銷費、衍生負債的公允價值損失（收益）、投資處置損失、處置 ╱ 收購附屬公司損失（收 益），以及未實現投資損失後的歸屬於寶尊普通股股東的淨利潤（損失）。 5 非公認會計準則下歸屬於寶尊普通股股東的每股美國存託股基本及攤薄淨利潤（損失）為 非公認會計準則財務計量，其定義為非公認會計準則下歸屬於寶 ...

Baozun Inc. 寶尊電商有限公司* （於開曼群島註冊成立以不同投票權控制的有限責任公司） （股份代號：9991) 我們謹此宣佈截至2023年12月31日止第四季度及財政年度的未經審核財務業績 （「業績」）。業績於香港聯合交易所有限公司網站www.hkexnews.hk及我們的網 站www.baozun.com可供查閱。 於本公告日期，我們的董事會包括董事仇文彬先生（主席）、吳駿華先生、岡田聡 良先生及劉洋女士；以及獨立董事Yiu Pong Chan先生、Steve Hsien-Chieng Hsia 先生及葉長青先生。 根據不同投票權架構，我們的股本包括A類普通股及B類普通股。對於提呈我們股東大會的任 何決議案，A類普通股持有人每股可投一票，而B類普通股持有人則每股可投十票，惟法律或 《香港聯合交易所有限公司證券上市規則》或我們的組織章程大綱及細則另行規定者除外。股東 及有意投資者務請留意投資不同投票權架構公司的潛在風險。我們的美國存託股（每股美國存 託股代表三股A類普通股）於美國納斯達克全球精選市場上市，股份代號為BZUN。 2023年第四季度及2023年財政年度業績公告 * 僅供識別 1 2024 ...

• 品牌管理業務3的經調整經營損失為人民幣50.1百萬元（6.9百萬美元）。 | --- | --- | --- | --- | --- | --- | --- | |------------------------|---------------|-------------------|------------------------------------------------------|------------------------|-----------------|-------------| | | 2022 \n人民幣 | \n總淨營收 佔比 % | 截至 9 月 30 \n人民幣 （人民幣百萬元，百分比除外） | 日止三個月 2023 \n美元 | 總淨營收 佔比 % | 同比 變化 % | | 服務 線上店舖運營 | 347.9 | 20% | 340.7 | 46.7 | 19% | -2% | | 倉儲物流 | 492.4 | 28% | 431.7 | 59.1 | 23% | -12% | | 數字行銷和技術服務 | 403.9 | 23% | 362.7 | 49.7 | 2 ...

Financial Performance - Total net revenue for the six months ended June 30, 2023, was approximately RMB 4,208.0 million (USD 580.3 million), representing a 2.5% increase compared to RMB 4,106.2 million in the same period of 2022, primarily due to the incremental contribution from the new business line BBM [52]. - Product sales revenue for the reporting period was RMB 1,596.3 million, a 16.1% increase from RMB 1,374.7 million in the previous year, driven mainly by the contribution from BBM [52][54]. - Service revenue decreased by 4.4% to RMB 2,611.6 million from RMB 2,731.5 million in the previous year, largely due to the sale of a loss-making subsidiary in 2022 [52][55]. - The company reported a cumulative loss of RMB (228,165) thousand as of June 30, 2023, an improvement from RMB (331,740) thousand [188]. - Net loss for the reporting period was approximately RMB 91.2 million (USD 12.6 million), a decrease from a net loss of RMB 196.9 million (USD 29.4 million) in the previous period [66]. - Basic and diluted net loss per share attributable to ordinary shareholders was RMB (1.05) for the six months ended June 30, 2023, compared to RMB (0.58) in the same period of 2022 [196]. Cash and Assets - Cash and cash equivalents were RMB 1,689.3 million (USD 233.0 million) as of June 30, 2023, compared to RMB 2,144.0 million (USD 310.9 million) as of December 31, 2022 [23]. - Current assets decreased by 4.8% to RMB 7,042.2 million (USD 971.2 million) as of June 30, 2023, compared to RMB 7,397.1 million (USD 1,072.5 million) at the end of 2022 [67]. - Total assets amounted to RMB 10,122,470 thousand, a decrease of 1.53% from RMB 10,280,765 thousand as of December 31, 2022 [177]. - The total value of non-current assets was RMB 2,725,349 thousand, a decrease of 15.8% from RMB 3,238,590 thousand [177]. Business Strategy and Expansion - The company plans to expand its business into three lines: Baozun E-commerce (BEC), Baozun Brand Management (BBM), and Baozun International (BZI) in 2023 [19]. - The company aims to enhance supply chain efficiency by identifying over 30 new local manufacturers to meet production demands [36]. - The company aims to replicate its successful e-commerce model in local markets through its international division, BZI [38]. - The company aims to expand its operations in Southeast Asia, having established operations in six regions including Hong Kong, Taiwan, Singapore, Malaysia, the Philippines, and France by June 30, 2023 [43]. - The company plans to enhance its e-commerce capabilities and seek more opportunities for innovation as part of its strategic expansion into three business lines [44]. Technology and Innovation - The company emphasizes the importance of technology in achieving its "global localization" strategy, planning to develop key capabilities and infrastructure to create differentiated experiences for brand partners [50]. - Technology and content expenses increased by 12.2% to RMB 244.0 million (USD 33.7 million) during the reporting period, driven by continued investment in technological innovation and productization [60]. - The company has invested in new technologies and infrastructure to offer innovative and reliable solutions to brand partners [125]. Employee and Governance - As of June 30, 2023, the company had 8,181 full-time employees, an increase from 7,588 as of December 31, 2022, primarily due to the acquisition of a subsidiary in Q1 2023 [91]. - The management team consists of experienced individuals with strong educational backgrounds and industry knowledge, crucial for attracting and retaining qualified personnel [91]. - The company has adopted the Corporate Governance Code as its own governance code, ensuring high standards of corporate governance [94]. Shareholder and Equity Information - The company has a significant ownership structure, with major shareholders controlling substantial percentages of related entities [149]. - As of June 30, 2023, the total number of outstanding options and restricted share units under the 2015 plan was 2,687,777 shares, with 1,245,827 shares available for issuance, representing 0.76% of the issued and outstanding Class A ordinary shares [110]. - The company’s voting power structure allows different voting rights beneficiaries to exert significant influence over corporate matters [131]. Market and Revenue Diversification - The company operates under three business models: distribution model, service fee model, and consignment model, generating revenue through product sales and service fees [126]. - Approximately 40.7% of total GMV was generated from non-Tmall markets and channels, compared to 31.0% in the same period of 2022 [11]. - The company’s revenue generation is diversified across different models, ensuring resilience in its business operations [126].

寶尊電商有限公司 未經審核簡明綜合全面收益表 （所有金額均以千元呈列，股份及每股數額除外） 3 在收購蓋璞上海之後，本集團更新其經營分部架構，形成兩個分部，即(i)電商；(ii)品牌 管理。經調整經營利潤（損失）為分部利潤（損失），其為撇除股份激勵費用、收購相關費 用及業務收購產生的無形資產攤銷的各分部經營利潤（損失）。 可贖回非控制性權益 1,438,082 1,455,254 200,689 5 寶尊電商有限公司股東權益： A類普通股（每股面值0.0001美元； 470,000,000股股份獲授權發行， 截至2022年12月31日及2023年 6月30日已發行及流通在外股份 分別為163,100,873股及 164,682,392股） 116 93 13 B類普通股（每股面值0.0001美元； 30,000,000股股份獲授權發行， 截至2022年12月31日及2023年 6月30日已發行及流通在外股份 分別為13,300,738股） 8 8 1 資本公積 庫存股（截至2022年12月31日及 2023年6月30日分別為32,353,269股 及零股股份） – 累計虧絀 累計其他綜合收益 | --- | ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不會就本公告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 根據不同投票權架構，我們的股本包括A類普通股及B類普通股。對於提呈我們股東大會的任 何決議案，A類普通股持有人每股可投一票，而B類普通股持有人則每股可投十票，惟法律或 《香港聯合交易所有限公司證券上市規則》或我們的組織章程大綱及細則另行規定者除外。股東 及有意投資者務請留意投資不同投票權架構公司的潛在風險。我們的美國存託股（每股美國存 託股代表三股A類普通股）於美國納斯達克全球精選市場上市，股份代號為BZUN。 Baozun Inc. 寶尊電商有限公司* （於開曼群島註冊成立以不同投票權控制的有限責任公司） （股份代號：9991) 2023年第二季度業績公告 我們謹此宣佈截至2023年6月30日止三個月（「2023年第二季度業績」）的未經審核 財務業績。2023年第二季度業績於香港聯合交易所有限公司網站 www.hkexnews.hk 及我們的網站 www.baozun.com 可供查閱。 承董事會命 寶 ...