Exhibit 99.1 Vipshop Reports Unaudited Third Quarter 2024 Financial Results Conference Call to Be Held at 7:30 A.M. U.S. Eastern Time on November 19, 2024 Guangzhou, China, November 19, 2024 — Vipshop Holdings Limited (NYSE: VIPS), a leading online discount retailer for brands in China ("Vipshop" or the "Company"), today announced its unaudited financial results for the quarter ended September 30, 2024. Third Quarter 2024 Highlights 1 • Total net revenues for the third quarter of 2024 were RMB20.7 billion ( ...

Core Viewpoint - Vipshop Holdings Limited reported a decline in financial performance for the third quarter of 2024, reflecting soft industry trends in discretionary categories, while maintaining profitability through disciplined financial management and strategic adjustments [2][3][4]. Financial Performance - Total net revenues for Q3 2024 were RMB20.7 billion (US$2.9 billion), down from RMB22.8 billion in the prior year [2][4]. - Gross profit for Q3 2024 was RMB5.0 billion (US$706.1 million), compared to RMB5.4 billion in the prior year [2][5]. - Net income attributable to shareholders for Q3 2024 was RMB1.0 billion (US$149.0 million), down from RMB1.2 billion in the prior year [2][11]. - Non-GAAP net income attributable to shareholders for Q3 2024 was RMB1.3 billion (US$186.8 million), compared to RMB1.8 billion in the prior year [2][12]. Customer Metrics - The number of active customers in Q3 2024 was 39.6 million, down from 42.3 million in the prior year [2]. - Total orders for Q3 2024 were 163.9 million, compared to 179.9 million in the prior year [2]. Operating Expenses - Total operating expenses for Q3 2024 decreased by 6.1% year over year to RMB3.8 billion (US$536.6 million) [6]. - Fulfillment expenses decreased by 2.0% year over year to RMB1.7 billion (US$247.3 million) [7]. - Marketing expenses decreased by 7.7% year over year to RMB617.8 million (US$88.0 million) [7]. Share Repurchase Program - The company repurchased US$275.0 million worth of shares during Q3 2024 and plans to initiate a new US$1.0 billion share repurchase program [3][16][17]. Business Outlook - For Q4 2024, the company expects total net revenues to be between RMB31.2 billion and RMB32.9 billion, representing a year-over-year decrease of approximately 10% to 5% [18].

Core Points - Vipshop Holdings Limited plans to release its third quarter 2024 financial results on November 19, 2024, before the US market opens [1] - A conference call will be held on the same day at 7:30 am US Eastern Time to discuss the financial results [1] Registration and Access - Participants must pre-register online to join the conference call, receiving dial-in numbers and a unique access PIN via email after registration [2] - A live webcast of the earnings conference call will be available, with an archived version accessible on the Company's investor relations website [3] Company Overview - Vipshop is a leading online discount retailer for brands in China, offering high-quality branded products at significant discounts [4] - The Company has established a growing customer base and brand partnerships since its founding in August 2008 [4]

Core Points - Vipshop Holdings Limited will hold its annual general meeting of shareholders on December 6, 2024, at its headquarters in Guangzhou, China [1] - No proposals will be submitted for shareholder approval; the meeting will serve as an open forum for discussion between shareholders and management [2] - The record date for determining eligible shareholders is set for November 12, 2024 [3][4] Financial Reporting - The Company has filed its annual report on Form 20-F, which includes audited financial statements for the fiscal year ended December 31, 2023 [5] - The annual report is accessible on the investor relations section of the Company's website and the SEC's website [5] Shareholder Information - Holders of the Company's ordinary shares and American depositary shares (ADSs) are entitled to attend the annual general meeting [4][6] - A hard copy of the annual report can be requested free of charge via email or by writing to the Company [6]

Investment Rating - The report maintains a "Hold" rating for the company with a target price adjusted to $15.9, reflecting a potential upside of 4% from the current price of $15.3 [2][5]. Core Insights - The company is expected to experience a revenue decline of 9.5% year-on-year in Q3 2024, aligning with its prior guidance, with projected revenue of RMB 20.6 billion [2]. - The gross margin is anticipated to be 23.0%, a decrease of 0.6 percentage points year-on-year, while the adjusted net profit is expected to be RMB 1.26 billion, with an adjusted net profit margin of 6.1%, down 2.0 percentage points year-on-year [2]. - For 2024, the estimated revenue is projected to be RMB 107 billion, with an adjusted net profit of RMB 8.62 billion and an adjusted net profit margin of 8.0% [2]. Financial Forecast Changes - Revenue for 2024E is forecasted at RMB 107,047 million, slightly down from the previous forecast of RMB 107,363 million, indicating a change of -0.29% [3]. - The gross profit is expected to be RMB 25,032 million, with a gross margin of 23.4%, reflecting a minor increase of 0.1 percentage points from the prior forecast [3]. - The adjusted net profit for 2024E is revised to RMB 8,616 million, down 2.85% from the previous estimate of RMB 8,868 million, with an adjusted net profit margin of 8.0% [3].

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Vipshop Holdings Limited (NYSE: VIPS ) reports a large number of users, relationships with many brands, and an established logistic network. In my opinion, further development of the company's AI-searched content , ERP systems, and automatization could bring future freeLondon Stock Market Research is a service offered by an ex-investment banker from the city of London. After around 11 years in the industry, I decided to drop out, and made dollars out of what I learned in business. I appreciate value investm ...

We Are Vipshop Holdings Limited (NYSE:VIPS) is a well-known online Chinese marketplace specializing in selling discounted goods primarily apparel. I have followed the company since 2021, when I published an article with a buy recommendation. In recent quarters, the company has attracted the attention of value investors due to its low valuation and its apparent ability to deliver profitable growth. The initial investment thesis was based on the idea of a slow recovery in the post-Covid era, which was exp ...

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of $14.96 per ADS based on a 6X PE valuation for 2024 [3][6]. Core Insights - The company reported a net revenue of 26.9 billion RMB in Q2 2024, a year-on-year decline of 3.6%, while the non-GAAP net profit was 2.2 billion RMB, down 8.3% year-on-year [1]. - The gross margin for Q2 2024 was 23.6%, an increase of 1.4 percentage points year-on-year, attributed to cost control and improved operational efficiency [1]. - The company’s active customer base decreased by 2.8% year-on-year to 44.3 million, while the GMV remained flat at 50.6 billion RMB [1]. - The company has initiated a stock buyback of $2 billion and announced a new $1 billion stock repurchase plan, indicating a commitment to returning value to shareholders [1]. Financial Summary - The company’s revenue for 2024 is projected to be 110.3 billion RMB, reflecting a decrease of 2.2% compared to 2023 [2]. - Non-GAAP net profit forecasts for 2024, 2025, and 2026 are 9.48 billion RMB, 9.78 billion RMB, and 10.12 billion RMB, respectively, with year-on-year changes of -0.3%, +3.1%, and +3.4% [2]. - The company’s EBITDA for 2024 is expected to be 10.59 billion RMB, with a P/E ratio of 4.6 [2].

Investment Rating - Maintains an "Overweight" rating [2] Core Views - External consumption environment and competition impact led to a downward revision of net profit forecasts for 2024-26 to 9/9.6/10 billion RMB, with growth rates of -6/7/5% respectively [2] - Q2 revenue and membership metrics fell short of expectations, but SVIP performance was strong [2] - GMV: 50.6 billion RMB, flat YoY [2] - Active members: 44.3 million, down 2.9% YoY [2] - Orders: 197.8 million, down 7.5% YoY [2] - SVIP members: 7.4 million, up 11% YoY, contributing 47% of online consumption [2] - Core financial metrics: [2] - Revenue: 26.88 billion RMB, down 3.7% YoY, within guidance range (26.5-27.9 billion RMB) [2] - Non-GAAP net profit: 2.17 billion RMB, down 9.8% YoY [2] - Gross margin: 23.6%, up 1.4 percentage points YoY [2] - Non-GAAP net margin: 8.1%, down 0.5 percentage points YoY [2] - Q3 guidance is cautious, with revenue expected to be 26.5-27.9 billion RMB, down 10-5% YoY [2] - The company completed a $200 million stock repurchase in Q2 and plans to repurchase up to $1 billion in the next 24 months [2] - Plans to use over 75% of 2024 Non-GAAP net profit for repurchases or dividends, equivalent to approximately 14.9% of the latest market cap [2] Business Strategy - Continues to enhance SVIP services by enriching differentiated product offerings and increasing exclusive promotional events [2] - Introduced over 600 new well-known brands to meet evolving consumer demands [2] - Deepened cooperation with nearly 200 brands in customized products, with Q2 customized product GMV growing over 140% and higher repurchase rates compared to similar products [2] - Super Brand Day and Super Category Day overall performance grew over 49% [2] - Plans to add 4-20 new outlet stores by the end of the year, with Q2 outlet performance continuing to show strength [2] Financial Summary - Revenue (billion RMB): 101.9 (2020A), 117.1 (2021A), 103.2 (2022A), 112.9 (2023A), 108.2 (2024E), 114.8 (2025E), 119.4 (2026E) [5] - Revenue growth (%): 10 (2020A), 15 (2021A), -12 (2022A), 9 (2023A), -4 (2024E), 6 (2025E), 4 (2026E) [5] - Gross profit (billion RMB): 21.3 (2020A), 23.1 (2021A), 21.6 (2022A), 25.7 (2023A), 24.9 (2024E), 26.5 (2025E), 27.7 (2026E) [5] - Net profit (billion RMB): 5.9 (2020A), 4.7 (2021A), 6.3 (2022A), 8.1 (2023A), 7.7 (2024E), 8.2 (2025E), 8.5 (2026E) [5] - Net profit growth (%): 63 (2020A), 60 (2021A), 68 (2022A), 95 (2023A), 90 (2024E), 96 (2025E), 100 (2026E) [5] Market Data - 52-week price range (USD): 19.05-11.56 [3] - Current shares outstanding (million): 107 [3] - Current market cap (billion USD): 6.3 [3]