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    Lulu Xia

    Research Analyst at Huatai Securities

    Lulu Xia is the Chief Analyst for Internet at Huatai Securities, specializing in coverage of high-tech and internet industries across the TMT (Technology, Media, Telecom) sector. She covers companies such as Huawei, Vivo, Meituan, and others, and has achieved a 50% success rate based on performance metrics, with a TipRanks rating of 1.39 stars. Xia began her career in TMT strategic consulting before transitioning to strategic research roles at Huawei, Vivo, Meituan, and Soochow Securities, then joined Huatai Securities in 2023, where she led her team to win 2nd place in the Institutional Investor Best Analyst Team poll for Internet and Media (Chinese Mainland). She holds a Bachelor’s degree in Political Science from Emporia State University, a Bachelor of Law from South China Normal University, and currently there is no record of FINRA registration or securities licenses disclosed publicly.

    Lulu Xia's questions to Baozun (BZUN) leadership

    Lulu Xia's questions to Baozun (BZUN) leadership • Q4 2024

    Question

    Lulu Xia from Huatai Securities asked about the competitive landscape, specifically the potential impact on Baozun from e-commerce platforms like Douyin cutting commission rates. She also inquired about the consumption recovery trend in 2025, given recent stimulus policies, and requested more detail on the growth outlook for Baozun's key categories.

    Answer

    Junhua Wu, Chief Strategy Officer, explained that while platforms like Tmall and JD remain the largest by GMV, Baozun is benefiting from Douyin's commission rate adjustments in key categories like fashion and apparel. He stated the company is actively expanding services on Douyin and integrating its traffic into a broader omnichannel strategy. Regarding the 2025 outlook, he noted that with over 400 brand partners having varied strategies, a single consumption trend is difficult to define, but Baozun maintains a positive outlook for its own GMV, revenue, and operating profit growth.

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