Brand e-commerce and digital business service provider Baozun Inc. (BZUN.US; 9991.HK) announced on Wednesday that total revenue for the first quarter ended in March increased by 15.3% year-on-year to RMB 2.381 billion, with net losses narrowing from RMB 63.08 million in the same period last year to RMB 7.5 million. Under non-GAAP, net profit was RMB 1.397 million, compared to a loss of RMB 57.17 million in the same period last year.
During the period, operating profit recorded RMB 250,000, while the same period last year saw an operating loss of RMB 83.99 million; non-GAAP operating profit was RMB 8.11 million, compared to a loss of RMB 66.91 million in the same period last year.
The company stated that revenue growth was mainly driven by its two major businesses: e-commerce (BEC) and brand management (BBM). Among them, BEC business revenue grew by 10.4% year-on-year, benefiting from the continuous growth of product sales and service fee models; BBM business revenue surged by 38.8% to RMB 538 million, mainly driven by the sales growth of the GAP brand. As of the end of March, the company managed 176 offline stores.
Baozun's Hong Kong stock opened higher on Thursday, reporting HKD 6.74 at noon, up 0.15%.
Li Shida

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IBUY

Baozun E-commerce Co., Ltd.; announced its first-quarter financial report for the period ending at the end of March, with total revenue increasing by 15.3% year-on-year to RMB 2.381 billion, and net loss narrowing to RMB 7.5 million. Under non-GAAP, net profit was RMB 1.397 million. Revenue growth was mainly driven by e-commerce and brand management businesses, with significant growth in GAP brand sales. Baozun's Hong Kong stock opened higher on Thursday, trading at HKD 6.74, up 0.15%

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News: Baozun's first-quarter losses significantly narrowed, GAP's China business continues to improve