Alicia Yap

Jiawei Yin

Chris Chou

Frank Tao

Jie Hou

Thomas Chong

Chris Kao

Jarvis Ying

Johanna Ma

Lulu Xia

Qingpu Yang

Wang Zhao

Ye Tao

- Baozun Inc.'s total net revenues for the six months ended June 30, 2025, increased by **5.6%** to **RMB4,617.0 million (US$644.5 million)**, up from RMB4,370.8 million for the same period in 2024.  **[1625414_0001104659-25-091017_tm2526443d1_ex99-1.htm:6]** **[1625414_0001104659-25-091017_tm2526443d1_ex99-1.htm:13]**  This growth was primarily driven by both of the Group’s operating segments, with product sales increasing by **14.3%**.  **[1625414_0001104659-25-091017_tm2526443d1_ex99-1.htm:13]** 
- The non-GAAP operating loss for the six months ended June 30, 2025, increased to **RMB60.8 million** from RMB7.5 million in the prior year period, mainly due to a **RMB53.3 million write-down of accounts receivable**.  **[1625414_0001104659-25-091017_tm2526443d1_ex99-1.htm:6]**  The GAAP loss from operations for the period was **RMB93,368 thousand**.  **[1625414_0001104659-25-091017_tm2526443d1_ex99-1.htm:33]** 
- The diluted non-GAAP net loss attributable to ordinary shareholders per ADS was **(US$0.18)** for the six months ended June 30, 2025.  **[1625414_0001104659-25-091017_tm2526443d1_ex99-1.htm:18]**  The diluted GAAP net loss per ADS was **(RMB1.68)** for the same period.  **[1625414_0001104659-25-091017_tm2526443d1_ex99-1.htm:33]** **[1625414_0001104659-25-091017_tm2526443d1_ex99-1.htm:69]** 
- The company repurchased **490,476 ADSs** in January 2025 for an aggregate consideration of **US$1,403,484.06**.  **[1625414_0001104659-25-091017_tm2526443d1_ex99-1.htm:29]**

Baozun Inc. Reports Increased Revenue and Operating Loss for First Half of 2025

- Baozun Inc. reported a net **decrease of 2,340,033** in its issued WVR ordinary shares (Class A) during August 2025, bringing the total outstanding to **160,237,828** shares.  **[1625414_0001104659-25-086698_tm2525125d1_ex99-1.htm:1]** **[1625414_0001104659-25-086698_tm2525125d1_ex99-1.htm:3]** 
- This decrease was primarily driven by the **repurchase and cancellation of 2,533,803** WVR ordinary shares (Class A).  **[1625414_0001104659-25-086698_tm2525125d1_ex99-1.htm:3]** 
- Partially offsetting this, the company issued **34,998** WVR ordinary shares (Class A) from share option exercises, generating **USD 32,548.14**, and an additional **158,772** Class A ordinary shares from vested restricted share units.  **[1625414_0001104659-25-086698_tm2525125d1_ex99-1.htm:2]** 
- The total authorized/registered share capital remained unchanged at **USD 50,000** at the end of August 2025.  **[1625414_0001104659-25-086698_tm2525125d1_ex99-1.htm:0]**

Baozun Details August 2025 Share Movements

Baozun (BZUN)