Financial Performance - For Q4 2023, Baozun reported an operating profit of RMB 75.7 million (USD 10.7 million), down from RMB 182.6 million in the same period last year, resulting in an operating profit margin of 2.7% compared to 7.2% in Q4 2022[7]. - The net loss attributable to ordinary shareholders was RMB 48.4 million (USD 6.8 million), significantly narrowing from RMB 284.3 million in the same period last year[9]. - Total net revenue for the fiscal year was RMB 8,812.0 million (USD 1,241.1 million), representing a year-over-year increase of 4.9% from RMB 8,400.6 million[11]. - The adjusted net profit attributable to ordinary shareholders was RMB 28.8 million (USD 4.1 million), compared to RMB 138.3 million in the same period last year[9]. - Operating profit for 2023 was RMB 6.4 million (USD 0.9 million), with an operating profit margin of 0.2%, down from 4.9% in 2022[23]. - The company reported an operating loss of RMB 206.4 million (USD 29.1 million) for the fiscal year, compared to an operating profit of RMB 33.3 million in the previous year[11]. - The basic and diluted net loss per American Depositary Share was RMB 1.09 (USD 0.15), compared to a profit of RMB 2.16 in the previous fiscal year[14]. - The company reported a net loss attributable to ordinary shareholders of RMB 278.4 million (USD 39.2 million), significantly narrowing from a net loss of RMB 653.3 million in fiscal year 2022[71]. Revenue Breakdown - Total revenue for 2023 reached RMB 8.8 billion, a year-on-year increase of 5%[22]. - Net revenue for Q4 was RMB 2,780.4 million (USD 391.6 million), up 8.9% from RMB 2,553.2 million in the same period last year[22]. - E-commerce business product sales revenue was RMB 3,357.2 million (USD 472.9 million), up from RMB 2,644.2 million in the 2022 fiscal year[46]. - E-commerce product sales revenue for Q4 2023 was RMB 597.5 million (USD 84.2 million), a decrease of 22.6% from RMB 772.4 million in the same period last year[52]. - Service revenue for 2023 was RMB 1,727.4 million (USD 243.3 million), a decrease of 3% from RMB 1,780.8 million in the previous year[38]. - The brand management segment generated net revenue of RMB 457.9 million for the three months ended December 31, 2023[93]. Expenses and Costs - Total operating expenses increased to RMB 2,774.0 million (USD 390.7 million) from RMB 2,429.1 million, primarily due to the acquisition of Gap Shanghai[39]. - Product costs rose to RMB 737.8 million (USD 103.9 million), up from RMB 643.3 million, mainly due to the acquisition of Gap Shanghai[41]. - Sales and marketing expenses increased to RMB 892.4 million (USD 125.7 million) from RMB 787.7 million, driven by the acquisition of Gap Shanghai[42]. - Technology and content expenses increased to RMB 140.8 million (USD 19.8 million) from RMB 112.1 million in the same period last year, driven by continued investment in technological innovation[57]. - The company’s fulfillment expenses decreased to RMB 2,507.3 million (USD 353.1 million) from RMB 2,719.7 million in fiscal year 2022, mainly due to cost savings from the expansion of regional service centers[66]. - The company incurred goodwill impairment losses of RMB 35,212 in Q4 2023, compared to RMB 13,155 in Q4 2022[136]. Business Developments - The company launched a new business line in Q1 2023, contributing to an 8.9% increase in total net revenue to RMB 2,780.4 million (USD 391.6 million) from RMB 2,553.2 million in the same period last year[19]. - Baozun was recognized by Gartner as a representative vendor in its 2024 Distributed Order Management Systems report, marking it as the only Asian vendor included[16]. - The company has restructured its operating segments into e-commerce and brand management following the acquisition of GAP Shanghai[92]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[136]. Assets and Liabilities - Total assets increased from RMB 10,122,470 thousand as of December 31, 2022, to RMB 10,474,476 thousand as of December 31, 2023, representing a growth of approximately 3.5%[104]. - Current assets decreased slightly from RMB 7,397,121 thousand to RMB 7,290,784 thousand, a decline of about 1.4%[104]. - Total liabilities rose from RMB 4,446,132 thousand to RMB 4,622,740 thousand, an increase of about 4%[120]. - Non-current assets increased significantly from RMB 2,725,349 thousand to RMB 3,183,692 thousand, a growth of about 16.8%[104]. - The total equity attributable to shareholders increased from RMB 1,438,082 thousand to RMB 1,584,858 thousand, representing a growth of approximately 10.2%[121]. Future Outlook - The company plans to hold a conference call on March 21, 2024, to discuss earnings[111].
宝尊电商(09991) - 2023 - 年度业绩