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Vipshop Announces Q2 2021 Financial Results

NYSE:VIPS   Vipshop Holdings Limited
In Q2 2021, the company generated CNY 29.6 billion in revenue, with a year-on-year increase of 22.8%.

According to Vipshop's Q2 2021 financial announcement:

- Revenue rose by 22.8%, reaching CNY 29.6 billion.

- Net profit hit CNY 1.1 billion, representing a year-on-year decline of 26.7%.

- As of June 30, 2021, Vipshop had cash, cash equivalents and restricted cash of CNY 16.5 billion.

- In Q2 2021, the company had a total of 51.1 million active users, showing a year-on-year growth of 32%, and the size of its VIP paid membership increased by nearly 50%.

- Moreover, GMV exceeded CNY 48.1 billion, representing a rise of 25%, while the number of orders reached 222 million, showing an increase of 30%.

- The firm's total operating expenses were CNY 4.8 billion (up 26.3%), accounting for 16.4% of total net revenue compared with 15.8% in the same period of 2020.

- Among them, its fulfillment expenses hit CNY 2.1 billion (an increase of 23.5%), marking up 6.9% of total net revenue compared with 7.0% in Q2 2020.

- At the same time, Vipshop's marketing expenses reached CNY 1.4 billion (up 40%), taking up 4.8% of total revenue compared with 4.3% in the previous year; technology and content expenses were CNY 370 million, increasing 21.3% year-on-year; and its general and administrative expenses hit CNY 1.0 billion (a growth of 24.2%), accounting for 3.4% of total net revenue compared with 3.3% in the same period in 2020.