Vipshop Holdings Limited (VIPS) is down 5.25% in the current-market trading session at the price of $13.89 after the announcement of second-quarter 2021 financial results.
Second Quarter 2021 Financial Results
On 18th August 2021, VIPS published its unaudited financial results for the second quarter ended 30th June 2021. Net revenue for the second quarter of 2021 gained 22.8% year-over-year to RMB29.6 billion (US$4.6 billion). Total net revenue of RMB24.1 billion was reported in the same quarter of 2020. Gross profit for the second quarter of 2021 grew 20.6% year over year to RMB6.0 billion (US$922.6 million) compared to RMB4.9 billion in the prior-year same period. The number of active customers for Q2 2021 increased by 32% YoY to 51.1 million from 38.8 million in the same quarter of 2020. Total orders for the second quarter of 2021 grew by 30% year over year to 221.5 million from 170.5 million in the prior-year same quarter.
Eric Shen, CEO of VIPS, remarked that in the second quarter of 2021, they maintained solid business momentum through the robust performance of their merchandising strategy. They noticed healthy trends across their core operating metrics. They have continued their value proposition to make them a discount platform of choice for brand partners. Their capability to offer a variety of quality products to customers at competitive prices will further solidify their leading position in China’s discount retail market, he added.
First Quarter 2021 Earnings Report
On 19th May 2021, VIPS published its unaudited financial results for the first quarter ended 31st March 2021. Total net revenue for the first quarter of 2021 grew by 51.1% year over year to RMB28.4 billion (US$4.3 billion). Revenue reported in the prior-year same period was RMB18.8 billion. Gross profit for the first quarter of 2021 improved by 54.7% year over year to RMB5.6 billion (US$853.9 million) compared to RMB3.6 billion in the same quarter of 2020. The number of active customers this quarter increased by 54% year over year to 45.8 million. Total orders for the first quarter of 2021 increased by 44% year over year to 175.5 million from 121.7 million the same quarter the previous year.
VIPS Filed 2020 Annual Report on Form 20-F
On 16th April 2021, VIPS disclosed that it had filed its annual report on Form 20-F. The annual report had covered the company’s audited financial statements for three years ended 31st December 2020. The annual report is available on the company’s official website. According to the instructions provided on the website, holders of the company’s securities can request a copy of the annual report free of cost.
