唯品会2025年营收1059亿元，净利润87亿元，SVIP用户达980万。 据唯品会平台数据显示，2025年，平台上的核心高价值品牌业绩稳定增长，超级大牌日和超级品类日全 年整体业绩同比增长17%。同时，平台精选深度折扣品牌好货，通过多元化栏目场景触达用户，增强品 牌特卖心智。以"限时狂秒"为例，栏目带动品牌高人气单品销售额高倍数增长，用户回访率稳步提升。 围绕买手制好货战略，唯品会持续增强供给优势，2025年新引入Alexander Wang、MAMMUT、 MANITO、Moose Knuckles、MUJI無印良品等众多国际知名品牌。通过与品牌深度合作、打造货好价 优的差异化商品，"唯品独家"商品对高价值用户的吸引力显著提升。 据悉，平台全年活跃用户数实现正增长。其中，超级VIP（SVIP）活跃用户数增至980万，继续保持两位 数增长，并贡献线上销售的52%。平台不断增厚会员权益，为SVIP用户带来更多专享的好货好价以及覆 盖面更加广泛的生活特权，并新推出生日实物礼、超V试用等专属体验，丰富会员价值感知，推动SVIP 用户规模可持续增长。 AI在搜索推荐、智能客服、虚拟试衣等领域的落地应用，为平台创造新 ...

Core Insights - Vipshop, a leading online discount retailer in China, reported a net revenue of 32.5 billion RMB for Q4 2025 and a total net revenue of 105.9 billion RMB for the entire year, with a Non-GAAP net profit of 2.9 billion RMB and 8.7 billion RMB respectively [1] - The company returned approximately 940 million USD to shareholders through stock buybacks and dividends in 2025, with a new annual dividend plan approved, offering 3.10 USD per ordinary share or 0.62 USD per American depositary share [1] - Vipshop's CEO emphasized the importance of strategic execution, business agility, and technological innovation to strengthen brand partnerships and respond to changing consumer demands [1] Financial Performance - In Q4 2025, Vipshop achieved a net revenue of 32.5 billion RMB and a Non-GAAP net profit of 2.9 billion RMB [1] - For the full year 2025, the company reported a total net revenue of 105.9 billion RMB and a Non-GAAP net profit of 8.7 billion RMB [1] - The company returned about 940 million USD to shareholders through stock buybacks and dividends [1] Shareholder Returns - Vipshop's board approved a new annual dividend plan, distributing 3.10 USD per ordinary share or 0.62 USD per American depositary share to shareholders registered by April 10, 2026 [1] - The total shareholder return for 2025 was approximately 940 million USD [1] Strategic Initiatives - The company introduced several international brands in 2025, including Alexander Wang, MAMMUT, and MUJI, enhancing its supply advantages [2] - Vipshop's exclusive products significantly attracted high-value users, contributing to a positive growth in active user numbers [2] - The platform's Super VIP (SVIP) user count reached 9.8 million, contributing 52% to online sales [2] User Engagement and AI Integration - The platform enhanced member benefits for SVIP users, introducing exclusive experiences and increasing user engagement [2] - AI applications in search recommendations, customer service, and virtual fitting rooms improved user experience, with a near 90% issue resolution rate in smart customer service [2] - AIGC was widely applied in creative content, advertising, and product descriptions, enhancing operational efficiency [2]

2025年，平台上的核心高价值品牌业绩稳定增长，超级大牌日和超级品类日全年整体业绩同比增长 17%。同时，平台精选深度折扣品牌好货，通过多元化栏目场景触达用户，增强品牌特卖心智。以"限 时狂秒"为例，栏目带动品牌高人气单品销售额高倍数增长，用户回访率稳步提升。 围绕买手制好货战略，唯品会持续增强供给优势，2025年新引入Alexander Wang、MAMMUT、 MANITO、Moose Knuckles、MUJI無印良品等众多国际知名品牌。通过与品牌深度合作、打造货好价 优的差异化商品，"唯品独家"商品对高价值用户的吸引力显著提升。 平台全年活跃用户数实现正增长。其中，超级VIP（SVIP）活跃用户数增至980万，继续保持两位数增 长，并贡献线上销售的52%。平台不断增厚会员权益，为SVIP用户带来更多专享的好货好价以及覆盖面 更加广泛的生活特权，并新推出生日实物礼、超V试用等专属体验，丰富会员价值感知，推动SVIP用户 规模可持续增长。 AI在搜索推荐、智能客服、虚拟试衣等领域的落地应用，为平台创造新的价值增量，如智能客服场景 用户问题解决率接近90%，AI试衣功能"穿上看看"提高用户回访意愿等。同时， ...

Core Insights - Vipshop reported a net revenue of 25.8 billion yuan for Q2 2025, with a non-GAAP net profit of 2.1 billion yuan, and a GMV of 51.4 billion yuan, reflecting a year-on-year growth of 1.7% [2] - The number of active Super VIP users increased by 15% year-on-year, contributing to 52% of online sales [2] - The performance of Super Brand Days and Super Category Days grew by 17% year-on-year, driven by enhanced user engagement strategies [2] - The differentiated product strategy through deep collaboration with brand manufacturers showed significant results, with the performance contribution of "Vipshop Exclusive" products continuing to rise [2] - The company leveraged AI technology to improve operational efficiency and user experience in core business areas [2] - In the first half of 2025, Vipshop returned over 600 million USD to shareholders through stock buybacks and dividends [2] Company Strategy - The CEO emphasized ongoing internal transformation to enhance product sourcing capabilities and improve business model uniqueness, flexibility, and operational efficiency for sustainable growth [3]