Vipshop(US:VIPS) Xin Lang Ke Ji·2025-08-14 09:16Core Insights - Vipshop reported a net revenue of 25.8 billion RMB for Q2 2025, with a Non-GAAP net profit of 2.1 billion RMB [1] - The Gross Merchandise Volume (GMV) for Q2 was 51.4 billion RMB, reflecting a year-on-year growth of 1.7% [1] - The number of active Super VIP (SVIP) users increased by 15% year-on-year, contributing to 52% of online sales [1] - In the first half of 2025, the company returned over 600 million USD to shareholders through stock buybacks and dividends [1] Financial Performance - Q2 2025 net revenue: 25.8 billion RMB [1] - Q2 2025 Non-GAAP net profit: 2.1 billion RMB [1] - Q2 2025 GMV: 51.4 billion RMB, up 1.7% year-on-year [1] User Engagement - Active SVIP users grew by 15% year-on-year [1] - SVIP users accounted for 52% of online sales [1] Shareholder Returns - Over 600 million USD returned to shareholders in H1 2025 through buybacks and dividends [1] Strategic Initiatives - The company is implementing internal changes to enhance brand value delivery [1] - Focus on strengthening sourcing capabilities and improving operational efficiency [1]