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].
宝尊电商-W(09991) - 2024 Q2 - 季度业绩