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Baozun Inc. logo

Baozun Inc.

9991.HK

HKSEConsumer CyclicalSpecialty Retail

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Latest quote

HK$7.60

+HK$0.10 · +1.33%

Aug 21, 4:08 PM HKTData delayed

9991.HK company overview

Historical prices · Market data may be delayed.

Company profile

Company website

Baozun Inc., operating through its subsidiaries, provides comprehensive e-commerce services to brand collaborators throughout the People's Republic of China. Their offerings span a wide range, including the development and integration of IT systems, creation and setup of online stores, management of daily operations for these digital storefronts, visual merchandising, marketing initiatives, customer assistance, and efficient warehousing and delivery of orders. The company supports partners across numerous product categories, such as clothing and accessories, various appliances, electronics, household furnishings, food and health items, beauty and cosmetic products, fast-moving consumer goods, mother and infant supplies, and automobiles. Established in 2007, the company was formerly known as Baozun Cayman Inc. before rebranding as Baozun Inc. in March 2015, and it is headquartered in Shanghai, People's Republic of China.

Industry
Specialty Retail
Sector
Consumer Cyclical
Headquarters
CN
CEO
Wenbin Qiu
Listed since
Sep 29, 2020
Employees
6,762

Market position

52-week range

Current HK$7.60

Open
HK$7.60
Previous close
HK$7.50
Volume
32.7K
1.72× average
Average volume
19.03K
Average daily volume
Market cap
1.33B HKD
Beta
0.51
Market reference 1
50-day average
HK$7.2547
+4.76% above average
200-day average
HK$7.0899
+7.20% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
2.28B CNY
EV / EBITDA
10.69×
Earnings yield
-22.26%
Free cash flow yield
40.44%

Profitability & efficiency

Return on equity
-6.47%
Return on assets
-2.43%
Return on invested capital
-0.03%

Financial health

Current ratio
1.87×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends82%50%17%-16%Gross margin, FY2021: 36.81%Gross margin, FY2022: 40.77%Gross margin, FY2023: 44.21%Gross margin, FY2024: 47.62%Gross margin, FY2025: 74.10%Operating margin, FY2021: 0.07%Operating margin, FY2022: 0.40%Operating margin, FY2023: -2.34%Operating margin, FY2024: -1.22%Operating margin, FY2025: -0.02%Net margin, FY2021: -2.34%Net margin, FY2022: -7.78%Net margin, FY2023: -3.16%Net margin, FY2024: -1.97%Net margin, FY2025: -2.43%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 36.81%. Gross margin FY2022 40.77%. Gross margin FY2023 44.21%. Gross margin FY2024 47.62%. Gross margin FY2025 74.10%. Operating margin FY2021 0.07%. Operating margin FY2022 0.40%. Operating margin FY2023 -2.34%. Operating margin FY2024 -1.22%. Operating margin FY2025 -0.02%. Net margin FY2021 -2.34%. Net margin FY2022 -7.78%. Net margin FY2023 -3.16%. Net margin FY2024 -1.97%. Net margin FY2025 -2.43%.

Income trends

Revenue

9.69B CNY+2.82%

Operating income

−2.29M CNY+98.00%

Net income

−235.83M CNY-27.34%
Income trends across reported periods10.72B CNY6.59B CNY2.45B CNY−1.69B CNYRevenue, FY2021: 9.4B CNYRevenue, FY2022: 8.4B CNYRevenue, FY2023: 8.81B CNYRevenue, FY2024: 9.42B CNYRevenue, FY2025: 9.69B CNYOperating income, FY2021: 7.02M CNYOperating income, FY2022: 33.29M CNYOperating income, FY2023: −206.38M CNYOperating income, FY2024: −114.83M CNYOperating income, FY2025: −2.29M CNYNet income, FY2021: −219.83M CNYNet income, FY2022: −653.29M CNYNet income, FY2023: −278.42M CNYNet income, FY2024: −185.2M CNYNet income, FY2025: −235.83M CNYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 9.4B CNY. Revenue FY2022 8.4B CNY. Revenue FY2023 8.81B CNY. Revenue FY2024 9.42B CNY. Revenue FY2025 9.69B CNY. Operating income FY2021 7.02M CNY. Operating income FY2022 33.29M CNY. Operating income FY2023 −206.38M CNY. Operating income FY2024 −114.83M CNY. Operating income FY2025 −2.29M CNY. Net income FY2021 −219.83M CNY. Net income FY2022 −653.29M CNY. Net income FY2023 −278.42M CNY. Net income FY2024 −185.2M CNY. Net income FY2025 −235.83M CNY.
Metric (CNY)FY2025FY2024FY2023FY2022FY2021
Revenue9.69B CNY9.42B CNY8.81B CNY8.4B CNY9.4B CNY
Cost of goods sold2.51B CNY4.94B CNY4.92B CNY4.98B CNY5.94B CNY
Gross profit7.18B CNY4.49B CNY3.9B CNY3.42B CNY3.46B CNY
Research and development451.22M CNY550.29M CNY505.2M CNY427.95M CNY448.41M CNY
Selling, general, and administrative4.6B CNY4.1B CNY3.68B CNY3.05B CNY3.08B CNY
Operating expenses7.18B CNY4.6B CNY4.1B CNY3.38B CNY3.45B CNY
Interest income57.04M CNY68.75M CNY82.11M CNY45.82M CNY62.94M CNY
Interest expense43.42M CNY38.99M CNY41.34M CNY56.92M CNY56.85M CNY
Depreciation and amortization216M CNY250.6M CNY251.63M CNY196.54M CNY206.94M CNY
Operating income−2.29M CNY−114.83M CNY−206.38M CNY33.29M CNY7.02M CNY
Net income−235.83M CNY−185.2M CNY−278.42M CNY−653.29M CNY−219.83M CNY

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
40%
2 beats, 3 misses, 0 met estimates
Average EPS surprise
-42.15%
5 comparable reports
Latest EPS result
-0.05

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates1.07-0.53-2.14-3.75Q3 '24MissQ4 '24MissQ1 '25BeatQ2 '25No estimateQ3 '25No estimateQ4 '25No estimateQ1 '26No estimateQ2 '26No estimate
Q3 2024, reported Aug 28, 2024: actual -0.02, estimate 0.065, surprise -130.80%, Miss. Q4 2024, reported Nov 21, 2024: actual -0.176, estimate 0.166, surprise -205.83%, Miss. Q1 2025, reported Mar 20, 2025: actual 0.741, estimate 0.404, surprise +83.63%, Beat. Q2 2025, reported May 21, 2025: actual -0.395, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 28, 2025: actual -0.215, estimate —, surprise —, Comparison unavailable. Q4 2025, reported Nov 25, 2025: actual -0.676, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Mar 25, 2026: actual -3.42, estimate —, surprise —, Comparison unavailable. Q2 2026, reported May 20, 2026: actual -0.05, estimate —, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates3.74B3.11B2.48B1.86BQ4 '24BeatQ1 '25MissQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26Estimate
Q4 2024, reported Nov 21, 2024: actual 2.21B HKD, estimate 2.09B HKD, surprise +5.92%, Beat. Q1 2025, reported Mar 20, 2025: actual 3.22B HKD, estimate 3.22B HKD, surprise -0.02%, Miss. Q2 2025, reported May 21, 2025: actual 2.24B HKD, estimate 2B HKD, surprise +12.17%, Beat. Q3 2025, reported Aug 28, 2025: actual 2.79B HKD, estimate 2.1B HKD, surprise +33.07%, Beat. Q4 2025, reported Nov 25, 2025: actual 2.36B HKD, estimate 2.33B HKD, surprise +1.29%, Beat. Q1 2026, reported Mar 25, 2026: actual 3.6B HKD, estimate 2.62B HKD, surprise +37.21%, Beat. Q2 2026, reported May 20, 2026: actual 2.74B HKD, estimate 2.62B HKD, surprise +4.53%, Beat. Q3 2026, reported Aug 27, 2026: actual —, estimate 2.77B HKD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Rating distribution

9 ratings
Strong buy00%
Buy333%
Hold556%
Sell111%
Strong sell00%

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ETFs holding 9991.HK

Funds reporting this stock among their holdings, ordered by reported position size.

Dimensional - Emerging Markets Core Equity 2 ETF logoDimensional - Emerging Markets Core Equity 2 ETFDFEM
Market value
24.1K
Weight
0.00%
AUM
9.49B USD
Expense ratio
0.39%
Price / 1D
$39.93+0.50%
Dimensional World ex U.S. Core Equity 2 ETF logoDimensional World ex U.S. Core Equity 2 ETFDFAX
Market value
23.43K
Weight
0.00%
AUM
12.57B USD
Expense ratio
0.28%
Price / 1D
$38.16+0.82%
Dimensional - Emerging Core Equity Market ETF logoDimensional - Emerging Core Equity Market ETFDFAE
Market value
5.93K
Weight
0.00%
AUM
10B USD
Expense ratio
0.29%
Price / 1D
$39.49+0.51%

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