Baozun Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	1,150	907.34	1,289	2,150	2,144	4,607
Short-Term Investments	1,703	1,747	1,272	720.52	895.43	-
Cash & Short-Term Investments	2,852	2,654	2,561	2,870	3,039	4,607
Cash Growth	28.46%	3.65%	-10.77%	-5.57%	-34.02%	-8.39%
Accounts Receivable	2,108	2,179	2,041	2,271	2,386	2,330
Other Receivables	-	272.54	363.04	390.26	376.81	390.44
Receivables	2,108	2,452	2,404	2,662	2,763	2,720
Inventory	858.35	879.42	1,117	1,045	943	1,074
Prepaid Expenses	-	169.38	203.3	100.97	84.27	108.67
Restricted Cash	94.18	140.96	354.99	202.76	101.7	93.22
Other Current Assets	1,066	507.09	573.67	410.23	465.95	601.63
Total Current Assets	6,978	6,803	7,214	7,291	7,397	9,204
Property, Plant & Equipment	1,358	1,410	1,590	1,921	1,541	1,748
Long-Term Investments	479.35	488.62	341.69	359.13	269.69	330.79
Goodwill	274.33	274.33	362.4	312.46	336.33	397.9
Other Intangible Assets	351.88	359.34	394.75	344.88	350.21	435.73
Long-Term Deferred Tax Assets	285.79	284.25	234.51	200.63	162.51	114.2
Other Long-Term Assets	118.8	71.08	69.89	45.32	65.11	87.93
Total Assets	9,846	9,691	10,207	10,474	10,122	12,319
Accounts Payable	962.16	801.25	1,082	1,070	962.57	1,024
Accrued Expenses	1,416	1,059	808.87	875.26	845.29	811.57
Short-Term Debt	1,202	1,208	1,221	1,116	1,016	2,288
Current Portion of Leases	227.69	239.71	243.14	332.98	235.45	278.18
Current Income Taxes Payable	29.46	35.51	26.56	18.77	46.83	127.99
Current Unearned Revenue	-	187.98	173.77	163.24	120.86	63.68
Other Current Liabilities	-	113.47	192.41	181.81	454.58	183.06
Total Current Liabilities	3,837	3,645	3,748	3,758	3,682	4,777
Long-Term Leases	453.42	489.6	597.81	799.1	673.96	883.5
Long-Term Deferred Tax Liabilities	21.3	22.98	32.78	24.97	28.08	51.53
Other Long-Term Liabilities	56.24	41.78	48.28	40.72	62.45	125.99
Total Liabilities	4,368	4,200	4,426	4,623	4,446	5,838
Common Stock	0.1	0.1	0.1	0.1	0.12	0.13
Additional Paid-In Capital	4,643	4,640	4,647	4,571	5,129	4,960
Retained Earnings	-941.34	-933.89	-691.79	-506.59	-228.17	425.13
Treasury Stock	-90.64	-90.64	-95.5	-	-832.58	-385.94
Comprehensive Income & Other	15.6	27.49	54.58	32.25	15.68	-102.6
Total Common Equity	3,627	3,643	3,914	4,097	4,084	4,896
Minority Interest	1,852	1,849	1,867	1,755	1,592	1,585
Shareholders' Equity	5,478	5,492	5,781	5,852	5,676	6,481
Total Liabilities & Equity	9,846	9,691	10,207	10,474	10,122	12,319
Total Debt	1,883	1,937	2,062	2,248	1,925	3,450
Net Cash (Debt)	969.29	717.28	499.04	622.25	1,114	1,156
Net Cash Growth	-	43.73%	-19.80%	-44.14%	-3.67%	-57.64%
Net Cash Per Share	16.74	12.40	8.33	10.46	18.23	16.03
Filing Date Shares Outstanding	58.11	58.11	58.21	60.4	58.8	69.6
Total Common Shares Outstanding	58.11	58.11	58.21	60.4	58.8	69.6
Working Capital	3,142	3,158	3,467	3,533	3,715	4,427
Book Value Per Share	62.41	62.69	67.24	67.83	69.46	70.35
Tangible Book Value	3,000	3,009	3,157	3,440	3,398	4,063
Tangible Book Value Per Share	51.64	51.78	54.23	56.95	57.78	58.37
Buildings	-	405.52	405.52	405.52	201.13	201.13
Machinery	-	677.12	654.64	617.43	454.26	426.89
Leasehold Improvements	-	435.95	517.19	470.65	565.5	444.04

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