Shulou(Shulou.com)11/24 Report--

CTOnews.com August 19 news, VIPSHOP today released the second quarter of 2022 financial results as of June 30.

VIPSHOP's total net income in the second quarter was 24.5 billion yuan ($3.7 billion), compared with 29.6 billion yuan in the same period last year, according to the financial report. The net profit attributable to VIPSHOP's shareholders was 1.3 billion yuan ($191.5 million), up 17.4% from 1.1 billion yuan in the same period last year. Excluding Non-GAAP, the net profit attributed to VIPSHOP shareholders was 1.6 billion yuan ($237.7 million), up 8.4% from 1.5 billion yuan in the same period last year.

Second quarter results:

GMV was 40.6 billion yuan, compared with 48.1 billion yuan in the same period last year.

Total net revenue was 24.5 billion yuan ($3.7 billion), compared with 29.6 billion yuan in the same period last year.

Gross profit was 5 billion yuan ($750.1 million), compared with 6 billion yuan in the same period last year. The gross profit margin was 20.5%, compared with 20.1% in the same period last year.

The number of SVIP active users increased by 21% compared with the same period last year, and more high-value customers were converted into paid members. SVIP accounted for 38% of the online net GMV contribution.

Overall operating expenses were 3.9 billion yuan ($588 million), down 18.7% from 4.8 billion yuan in the same period last year.

The expenditure on implementation was 1.8 billion yuan ($265.2 million), down 13.7% from 2.1 billion yuan in the same period last year.

Marketing spending was 555.6 million yuan ($82.9 million), down 60.5% from 1.4 billion yuan in the same period last year.

Expenditure on technology and content was 411.8 million yuan ($615.6 million), an increase of 11.3% compared with 369.9 million yuan in the same period last year.

General and administrative expenses were 1.2 billion yuan ($178.4 million), compared with 1 billion yuan in the same period last year.

The net profit attributable to VIPSHOP's shareholders was 1.3 billion yuan ($191.5 million), up 17.4% from 1.1 billion yuan in the same period last year.

Excluding Non-GAAP, the net profit attributed to VIPSHOP shareholders was 1.6 billion yuan ($237.7 million), up 8.4% from 1.5 billion yuan in the same period last year.

As of June 30, 2022, VIPSHOP had 17.3 billion yuan ($2.6 billion) in cash, cash equivalents and restricted cash and 4.1 billion yuan ($615.4 million) in short-term investment.

CTOnews.com learned that VIPSHOP expects total net revenue to reach 21.2 billion to 22.4 billion yuan in the third quarter of 2022, down about 15 to 10 per cent from a year earlier.

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