Group 1 - The core focus of Vipshop is on its Spring Festival marketing activities and service guarantees, launching the New Year goods festival from February 8 to February 15, 2026, with promotional activities to stimulate consumption [1] - Vipshop has partnered with SF Express to offer a "Spring Festival uninterrupted" service from February 12 to February 24, ensuring normal delivery of specific products and upgrading the return policy to 15 days without reason to enhance the shopping experience during the holiday [1] - These initiatives aim to strengthen user engagement during the peak consumption season of the Spring Festival [1] Group 2 - Vipshop's stock price has shown volatility over the past week, with a cumulative decline of 2.34% from February 9 to February 13, 2026, and a price fluctuation of 7.02%, reaching a low of $16.97 on February 12 [1] - On February 13, the closing price was $17.54, reflecting a daily increase of 1.45% with a trading volume of approximately $16.47 million; however, the overall performance has been weaker than the market, influenced by market sentiment and industry competition [1] - There are rumors regarding the company's potential listing in Hong Kong and quarterly earnings guidance, but specific developments are pending official confirmation [1]