BAOZUN-W (09991) released its annual performance with a net loss of 242 million yuan, a year-on-year increase of 30.72%.

BAOZUN-W (09991) released its performance for the fourth quarter of 2025 and the fiscal year 2025. In the fourth quarter of 2025, the Group achieved a total revenue of 3.172 billion yuan, an increase of 5.9% year-on-year; the net loss attributable to ordinary shareholders was 37.957 million yuan, a turnaround from profit to loss year-on-year. In the fiscal year 2025, the Group achieved a total revenue of 9.946 billion yuan, an increase of 5.6% year-on-year; the net loss attributable to ordinary shareholders was 242 million yuan, an increase of 30.72% year-on-year; basic loss per share was 1.40 yuan; operating profit was 56.555 million yuan. The announcement stated that product sales revenue in 2025 was 3.85 billion yuan, an increase of 11.0% from the fiscal year 2024 revenue of 3.467 billion yuan, including: product sales revenue from e-commerce business was 2.01 billion yuan, compared to about 2 billion yuan in fiscal year 2024.