In This Article:
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Total Revenue: Increased by 13% year-over-year to CNY2.1 billion.
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E-commerce Revenue: Grew 14% to CNY1.8 billion.
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Brand Management Revenue: Increased by 10% to CNY331 million.
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Services Revenue: Increased by 15% to CNY1.3 billion, driven by a 40% increase in digital marketing and IT solutions.
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BEC Product Sales Revenue: Grew 10% year-over-year to CNY454 million.
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BBM Product Sales: Totaled CNY330 million, reflecting an 11% year-over-year growth.
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Blended Gross Margin: 28.1% for product sales at the group level.
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Gross Profit: Increased by 2% to CNY220 million.
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Adjusted Loss from Operations: CNY85 million, an improvement from CNY90 million a year ago.
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Adjusted Net Loss Attributable to Shareholders: CNY67 million, improved by 12.5% from CNY76 million a year ago.
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Cash and Cash Equivalents: Totaled CNY2.7 billion as of September 30, 2024.
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Share Repurchase Program: Approximately 8.6 million ADS repurchased for USD9.9 million year-to-date.
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New Store Openings: 24 new stores opened in Q3, with a target of 50 new stores by the end of 2024.
Release Date: November 21, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Baozun Inc (NASDAQ:BZUN) reported a 13% year-over-year increase in total revenues, indicating strong growth momentum.
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The e-commerce segment achieved a 14% revenue increase, driven by improvements in services and product sales.
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The DouYin business experienced triple-digit growth, showcasing successful strategic integration and innovation.
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The brand management segment resumed growth with a 10% year-over-year increase, marking a turnaround for the Gap brand in China.
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Baozun Inc (NASDAQ:BZUN) successfully implemented efficiency-enhancing measures, such as the intelligent customer service assistant S-Whiz, improving service quality and operational efficiency.
Negative Points
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Despite revenue growth, Baozun Inc (NASDAQ:BZUN) reported an adjusted operating loss of CNY85 million, indicating ongoing profitability challenges.
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The gross margin for e-commerce product sales decreased due to a higher proportion of promotional rebates.
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The company faced a high return rate during the Double 11 shopping festival, impacting overall operating efficiency.
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Persistent macroeconomic pressures and slower-than-expected consumer recovery remain concerns for future performance.
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The apparel and sports categories on JD platform, while showing potential, still represent a smaller market compared to Tmall, indicating limited current scale.