Vipshop profits from strong customer support

Vipshop Holdings has remained profitable for 14 consecutive quarters, according to an unaudited financial report released on May 18.


The published financial results for the first quarter of this year show that the total net revenue of the Guangzhou-based online flash sale operator exceeded 12 billion yuan ($1.83 billion), an increase of 41 percent from the same period a year earlier.


The company's gross profit amounted to nearly 3 billion yuan, up 38 percent, and income from operations increased by 51 percent to 596 million yuan.


The non-GAAP (Generally Accepted Accounting Principles) net income attributable to the company's shareholders rose 28 percent from last year's first quarter to 623 million yuan.


The company also witnessed significant growth in its number of active users during the first quarter compared with the same period a year earlier, increasing from 12.9 million to 19.7 million, thanks to its "upgraded business models, improved logistics, innovative marketing approaches and the use of mobile big data and other internet technologies", according to the company.


The report also shows that Vipshop received 58.7 million business orders by the end of the quarter, an increase of 53 percent.


Shen Ya, chairman and CEO of the company, said such financial performance reflected "Vipshop's strong attraction to both customers and brand partners".


The article transsshipment from China Daily