Baozun Income Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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
Revenue	9,945	9,422	8,812	8,401	9,396
Revenue Growth (YoY)	5.55%	6.93%	4.90%	-10.60%	6.15%
Cost of Revenue	2,576	2,474	2,409	2,256	3,277
Gross Profit	7,369	6,948	6,403	6,145	6,120
Selling, General & Admin	6,909	6,561	6,192	5,766	5,737
Research & Development	463.21	550.29	505.2	427.95	448.41
Other Operating Expenses	-58.91	-48.51	-88.16	-82.14	-72.52
Total Operating Expenses	7,313	7,063	6,609	6,111	6,113
Operating Income	56.56	-114.83	-206.38	33.29	7.02
Interest Income	58.56	68.75	82.11	45.82	62.94
Interest Expense	-44.57	-38.99	-41.34	-56.92	-56.85
Other Non-Operating Income (Expense)	-271.3	-7.93	-51.42	-602.49	-167.12
Total Non-Operating Income (Expense)	-257.32	21.84	-10.65	-613.6	-161.03
Pretax Income	-200.76	-92.99	-217.03	-580.31	-154
Provision for Income Taxes	9.91	20.74	12	26.48	55.26
Net Income	-242.1	-185.2	-278.42	-653.29	-219.83
Minority Interest in Earnings	15.32	-75.45	-30.04	-48.19	-7.56
Net Income to Common	-242.1	-185.2	-278.42	-653.29	-219.83
Shares Outstanding (Basic)	58	60	60	61	72
Shares Outstanding (Diluted)	58	60	60	61	72
Shares Change (YoY)	-3.45%	0.63%	-2.58%	-15.30%	13.29%
EPS (Basic)	-4.20	-3.09	-4.68	-10.68	-3.06
EPS (Diluted)	-4.20	-3.09	-4.68	-10.68	-3.06
Shares Outstanding	58.11	58.21	178.12	176.4	208.79
Free Cash Flow	313.89	-30.83	283.25	175.65	-381.69
Free Cash Flow Growth	-	-	61.26%	-	-
Free Cash Flow Per Share	5.43	-0.51	4.76	2.88	-5.29
Gross Margin	74.10%	73.75%	72.66%	73.15%	65.13%
Operating Margin	0.57%	-1.22%	-2.34%	0.40%	0.07%
Profit Margin	-2.01%	-1.47%	-2.53%	-7.27%	-2.19%
FCF Margin	3.16%	-0.33%	3.21%	2.09%	-4.06%
EBITDA	278.3	130.03	45.25	229.83	213.96
EBITDA Margin	2.80%	1.38%	0.51%	2.74%	2.28%
EBIT	56.56	-114.83	-206.38	33.29	7.02
EBIT Margin	0.57%	-1.22%	-2.34%	0.40%	0.07%
Effective Tax Rate	-4.93%	-22.30%	-5.53%	-4.56%	-35.88%

Updated Mar 25, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

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