Quarterly ResultMay 20, 2026, 07:07 AM
Baozun Q1 Revenue +15.3% to $345.2M; Returns to Non-GAAP Operating Profit
AI Summary
Baozun Inc. announced robust first quarter 2026 unaudited financial results, with total net revenues increasing by 15.3% year-over-year to RMB2,381.1 million ($345.2 million). The company returned to non-GAAP operating profitability at the group level, reporting RMB8.1 million ($1.2 million) in non-GAAP income from operations, a significant improvement from a loss in the prior year. Both its E-Commerce (BEC) and Brand Management (BBM) segments showed strong growth and improved profitability, with BBM accelerating revenue growth by 38.8% and BEC growing 10.4%.
Key Highlights
- Total net revenues increased 15.3% year-over-year to RMB2,381.1 million ($345.2 million).
- Non-GAAP income from operations was RMB8.1 million ($1.2 million), compared to a loss of RMB66.9 million in Q1 2025.
- GAAP income from operations was RMB0.3 million ($0.04 million), compared to a loss of RMB84.0 million in Q1 2025.
- Net loss attributable to ordinary shareholders narrowed to RMB7.5 million ($1.1 million) from RMB63.1 million in Q1 2025.
- Baozun e-Commerce (BEC) revenue grew 10.4% year-over-year, with an adjusted operating profit of RMB13.0 million.
- Baozun Brand Management (BBM) revenue increased 38.8% year-over-year to RMB537.8 million.
- Working capital turnover days improved to 109 days in Q1 2026 from 193 days in Q1 2025.
Price Impact
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