Baozun Inc. Announces First Quarter 2026 Financial Results

Baozun Inc. reported its unaudited financial results for the first quarter ended March 31, 2026. The company achieved a 15.3% year-over-year increase in total net revenues, reaching RMB 2,381.1 million. Notably, Baozun returned to non-GAAP operating profitability, with a non-GAAP income from operations of RMB 8.1 million, a significant improvement from the RMB 66.9 million loss in the same quarter last year. Both the E-commerce (BEC) and Brand Management (BBM) segments contributed to this growth. BEC saw a 10.4% increase in total revenue, driven by product sales and service fees, while BBM revenue increased by 38.8%. The company also reported an improvement in working capital efficiency, with turnover days decreasing from 193 to 109 days. Net loss attributable to ordinary shareholders narrowed to RMB 7.5 million from RMB 63.1 million in the prior year period. Non-GAAP net income attributable to ordinary shareholders was RMB 1.4 million, compared to a non-GAAP net loss of RMB 57.2 million in Q1 2025.