Baozun Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	1,126	1,289	2,150	2,144	4,607	3,580
Short-Term Investments	1,408	1,272	720.52	895.43	-	1,449
Cash & Short-Term Investments	2,534	2,561	2,870	3,039	4,607	5,029
Cash Growth	8.76%	-10.77%	-5.57%	-34.02%	-8.39%	152.88%
Accounts Receivable	1,973	2,041	2,271	2,386	2,330	2,230
Other Receivables	-	363.04	390.26	376.81	390.44	331.35
Receivables	1,973	2,404	2,662	2,763	2,720	2,561
Inventory	1,118	1,117	1,045	943	1,074	1,026
Prepaid Expenses	-	203.3	100.97	84.27	108.67	66.78
Restricted Cash	131.31	354.99	202.76	101.7	93.22	151.35
Other Current Assets	1,019	573.67	410.23	465.95	601.63	324.86
Total Current Assets	6,775	7,214	7,291	7,397	9,204	9,159
Property, Plant & Equipment	1,511	1,590	1,921	1,541	1,748	954.88
Long-Term Investments	555.87	341.69	359.13	269.69	330.79	53.34
Goodwill	292.72	362.4	312.46	336.33	397.9	13.57
Other Intangible Assets	360.51	394.75	344.88	350.21	435.73	187.91
Long-Term Deferred Tax Assets	239.24	234.51	200.63	162.51	114.2	54.65
Other Long-Term Assets	56.09	69.89	45.32	65.11	87.93	51.53
Total Assets	9,790	10,207	10,474	10,122	12,319	10,475
Accounts Payable	966.16	1,082	1,070	962.57	1,024	922.38
Accrued Expenses	1,128	808.87	875.26	845.29	811.57	937.67
Short-Term Debt	1,253	1,221	1,116	1,016	2,288	-
Current Portion of Leases	256.68	243.14	332.98	235.45	278.18	165.12
Current Income Taxes Payable	12.08	26.56	18.77	46.83	127.99	72.59
Current Unearned Revenue	-	173.77	163.24	120.86	63.68	65.26
Other Current Liabilities	0.08	192.41	181.81	454.58	183.06	33.25
Total Current Liabilities	3,616	3,748	3,758	3,682	4,777	2,196
Long-Term Debt	4	-	-	-	-	1,763
Long-Term Leases	573.72	597.81	799.1	673.96	883.5	370.43
Long-Term Deferred Tax Liabilities	24.69	32.78	24.97	28.08	51.53	2.54
Other Long-Term Liabilities	50.05	48.28	40.72	62.45	125.99	-
Total Liabilities	4,268	4,426	4,623	4,446	5,838	4,332
Common Stock	0.1	0.1	0.1	0.12	0.13	0.15
Additional Paid-In Capital	4,642	4,647	4,571	5,129	4,960	5,208
Retained Earnings	-895.93	-691.79	-506.59	-228.17	425.13	952
Treasury Stock	-90.64	-95.5	-	-832.58	-385.94	-
Comprehensive Income & Other	41.62	54.58	32.25	15.68	-102.6	-48.76
Total Common Equity	3,697	3,914	4,097	4,084	4,896	6,111
Minority Interest	1,825	1,867	1,755	1,592	1,585	31.58
Shareholders' Equity	5,522	5,781	5,852	5,676	6,481	6,143
Total Liabilities & Equity	9,790	10,207	10,474	10,122	12,319	10,475
Total Debt	2,087	2,062	2,248	1,925	3,450	2,298
Net Cash (Debt)	446.2	499.04	622.25	1,114	1,156	2,730
Net Cash Growth	35.49%	-19.80%	-44.14%	-3.67%	-57.64%	-
Net Cash Per Share	7.68	8.33	10.46	18.23	16.03	42.88
Filing Date Shares Outstanding	57.85	58.21	60.4	58.8	69.6	78.36
Total Common Shares Outstanding	57.85	58.21	60.4	58.8	69.6	77.94
Working Capital	3,159	3,467	3,533	3,715	4,427	6,963
Book Value Per Share	63.90	67.24	67.83	69.46	70.35	78.41
Tangible Book Value	3,044	3,157	3,440	3,398	4,063	5,910
Tangible Book Value Per Share	52.61	54.23	56.95	57.78	58.37	75.83
Buildings	-	405.52	405.52	201.13	201.13	201.13
Machinery	-	654.64	617.43	454.26	426.89	283.75
Leasehold Improvements	-	517.19	470.65	565.5	444.04	237.61

Source: S&P Global Market Intelligence. Standard template. Financial Sources.