[Table_Page] 公告点评|零售业 证券研究报告 [【Table_广Title] 发商社&海外】唯品会（VIPS） [公Tab司le_I评nves级t] 买入 当前价格 19.53美元 4Q23 点评：净利率持续创新高，积极回报股东 合理价值 20.99美元 前次评级 买入 [ 核Tabl 心e_Su 观mm 点ary] ： 报告日期 2024-02-29 ⚫ 唯品会公布 2023 年业绩：（1）公司 2023Q4 实现收入 347 亿元，同 相[Ta对ble市_Pi场cQu表ote现] 比增长9.2%，位于指引上限；non-GAAP归母净利润为32亿元，同 比增长43.4%。（2）2023年全年实现收入1129亿元，同比增长9.4%； 80% 60% non-GAAP归母净利润为95亿元，同比增长39.1%。 40% 20% ⚫ 2023 年公司全年 GMV 为 2080 亿元，同比增长 18.7%。订单总量同 0% -20% 比增长9.8%至8.1亿，客单价同比增长13.8%至283元，价格增长主 -40% -60% 要系22年基数低、23Q4寒冬利好高客单价冬衣销售等。 -80% -100% 5 ...

证券研究报告 | 2024年03月06日 唯品会（VIPS.N） 增持 2023Q4 财报点评：收入利润表现亮眼，公司首次派发股息 核心观点 公司研究·海外公司财报点评 收入端：2023Q4，公司营业收入347亿元，yoy +9%，两年收入CAGR约 互联网·互联网Ⅱ 为+1%，公司收入基本恢复至 2021 年水平。其中产品收入324 亿元， 证券分析师：张伦可 联系人：王颖婕 yoy+8%，其他收入22亿，yoy+21%。其他收入的快速增长主要由杉杉奥 0755-81982651 0755-81983057 zhanglunke@guosen.com.cnwangyingjie1@guosen.com.cn 莱店带动。展望24Q1，据管理层透露，受1-2月天气忽冷忽热的影响， S0980521120004 公司收入增速中个位数，管理层指引24Q1收入增速0-5%区间。 基础数据 运营数据：公司本季度GMV同比增长22%至664亿，两年GMVCAGR约为7.9%， 投资评级 增持(维持) 合理估值 22.00 - 24.00美元 GMV和收入增速差环比扩大，全年看2023年公司退货退款率同比2022年提 收盘 ...

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current ...

Robert Way In December of 2023, I published my investment thesis on Vipshop (NYSE:VIPS). To recap, VIPS is a Chinese specialty discount retailer operating in a niche market with limited competition. VIPS's moat includes a large network of professional buyers, a loyal group of customers, and long-term relationships with many brand partners. VIPS was up more than 12% on Feb 28 after reporting Q4 2023 earnings, and up almost 20% since my write-up. Both revenue and net income beat analysts' expectations. But mo ...

浦银国际研究 财务模型更新 | 互联网行业 唯品会（VIPS.US）：季节性需求推动 赵丹 浦 业绩超预期，预计 FY24 平稳增长 首席互联网分析师 银 dan_zhao@spdbi.com 国 (852) 2808 6436 际 季节性需求推动公司4Q23业绩优于预期。考虑到宏观环境及行业竞 杨子超，CFA 争，预计 2024 年增长保持平缓。因降本增效优于预期，上调盈利预 互联网分析师 测，并上调目标价至 20 美元，当前估值相较同业未具吸引力，维持 charles_yang@spdbi.com “持有”评级。 (852) 2808 6409 财 务 2024年2月29日 强劲季节性需求推动业绩超预期。公司 4Q23 收入人民币 347 亿元， 模 型 同比增长 9.2%，高于市场预期 4.5%，优于先前指引（318 亿-333 亿 评级 更 元），主要是因天气寒冷，服装品类增长强劲；4Q23 GMV 为 664 亿 新 元，同比增长 21.9%，订单量同比增长 7.2%，活跃买家数同比增长 目标价（美元） 20 2.3%，其中 SVIP 会员数同比增长 14%，贡献约45%的GMV。 潜在升幅/降幅 ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?Let's take a look at what these Wall Street heavyweights have to say about Vipshop Holdings Limited (VIPS) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Vipshop Holdings Limited currently has an avera ...

Vipshop Holdings Limited (NYSE:VIPS) Q4 2023 Earnings Conference Call February 28, 2024 7:30 AM ET Company Participants Jessie Zheng - Head of Investor Relations Eric Shen - Co-Founder, Chairman and CEO Mark Wang - Chief Financial Officer Conference Call Participants Alicia Yap - Citigroup Eddy Wang - Morgan Stanley Ronald Keung - Goldman Sachs Andre Chang - JPMorgan Operator Ladies and gentlemen, good day everyone and welcome to Vipshop Holdings Limited's Fourth Quarter and Full-Year 2023 Earnings Conferen ...

Vipshop Holdings Limited (VIPS) is set to report fourth-quarter 2023 results on Feb 28.VIPS expects fourth-quarter total net revenues between RMB 31.8 billion and RMB 33.3 billion, indicating growth of 0-5% from the prior-year quarter’s reported figure.The Zacks Consensus Estimate for revenues is pegged at $4.66 billion, suggesting growth of 1.2% from the year-ago reported figure.The consensus mark for earnings per share is pegged at 74 cents per share, indicating growth of 39.6% from the prior-year reporte ...

Exhibit 99.1 Vipshop Reports Unaudited Fourth Quarter and Full Year 2023 Financial Results Conference Call to Be Held at 7:30 A.M. U.S. Eastern Time on February 28, 2024 Guangzhou, China, February 28, 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 and full year ended December 31, 2023. Fourth Quarter and Full Year 2023 Highlights • Total net revenues for the fou ...

GUANGZHOU, China, Feb. 20, 2024 /PRNewswire/ -- Vipshop Holdings Limited (NYSE: VIPS), a leading online discount retailer for brands in China ("Vipshop" or the "Company"), today announced that it plans to release its fourth quarter and full year 2023 financial results on Wednesday, February 28, 2024, before the US market open. The Company will hold a conference call on Wednesday, February 28, 2024, at 7:30 am US Eastern Time, 8:30 pm Beijing Time to discuss the financial results. All participants wishing to ...