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]
宝尊电商-W(09991) - 2022 - 中期财报