{"id":9629,"date":"2022-05-19T09:00:00","date_gmt":"2022-05-19T09:00:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3763077_CN63077_0"},"modified":"2022-05-19T09:00:00","modified_gmt":"2022-05-19T09:00:00","slug":"vipshop-reports-unaudited-first-quarter-2022-financial-results","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=9629","title":{"rendered":"Vipshop Reports Unaudited First Quarter 2022 Financial Results"},"content":{"rendered":"<p class=\"prntac\"><i>Conference Call to Be Held at <span class=\"xn-chron\">7:30 A.M.<\/span> U.S. Eastern Time on <span class=\"xn-chron\">May 19, 2022<\/span> <\/i><\/p>\n<p><span class=\"xn-location\">GUANGZHOU, China<\/span>, <span class=\"xn-chron\">May 19, 2022<\/span> \/PRNewswire\/ &#8212;&nbsp;Vipshop Holdings Limited (NYSE: VIPS), a leading online discount retailer for brands in <span class=\"xn-location\">China<\/span> (&#8220;Vipshop&#8221; or the &#8220;Company&#8221;), today announced its unaudited financial results for the quarter ended <span class=\"xn-chron\">March 31, 2022<\/span>.<\/p>\n<p><b>First Quarter 2022 Highlights<\/b><\/p>\n<ul type=\"disc\">\n<li><b>Total net revenues<\/b> for the first quarter of 2022 were <span class=\"xn-money\">RMB25.2 billion<\/span> (<span class=\"xn-money\">US$4.0 billion<\/span>), as compared with <span class=\"xn-money\">RMB28.4 billion<\/span> in the prior year period.<\/li>\n<li><b>GMV<sup><b>[1]<\/b><\/sup> <\/b>for the first quarter of 2022 was <span class=\"xn-money\">RMB42.6 billion<\/span>, as compared with <span class=\"xn-money\">RMB46.1 billion<\/span> in the prior year period.<\/li>\n<li><b>Gross profit<\/b> for the first quarter of 2022 was <span class=\"xn-money\">RMB5.0 billion<\/span> (<span class=\"xn-money\">US$790.1 million<\/span>), as compared with <span class=\"xn-money\">RMB5.6 billion<\/span> in the prior year period.<\/li>\n<li><b>Net income attributable to Vipshop&#8217;s shareholders<\/b> for the first quarter of 2022 was <span class=\"xn-money\">RMB1.1 billion<\/span> (<span class=\"xn-money\">US$172.8 million<\/span>), as compared with <span class=\"xn-money\">RMB1.5 billion<\/span> in the prior year period.<\/li>\n<li><b>Non-GAAP net income attributable to Vipshop&#8217;s shareholders<\/b><sup><sup>[2]<\/sup><\/sup> for the first quarter of 2022 was <span class=\"xn-money\">RMB1.4 billion<\/span> (<span class=\"xn-money\">US$223.8 million<\/span>), as compared with <span class=\"xn-money\">RMB1.7 billion<\/span> in the prior year period.<\/li>\n<li><b>The number of active customers<\/b><sup>[3]<\/sup> for the first quarter of 2022 was 42.2 million, as compared with 45.8 million in the prior year period.<\/li>\n<li><b>Total orders<\/b><sup>[4] <\/sup>for the first quarter of 2022 were 166.4 million, as compared with 175.5 million in the prior year period.<\/li>\n<\/ul>\n<p>Mr. <span class=\"xn-person\">Eric Shen<\/span>, Chairman and Chief Executive Officer of Vipshop, stated, &#8220;Our business demonstrated strong execution and operational agility in the first quarter, against a challenging macro environment and prolonged COVID-19 impact. We continued to execute on our merchandising strategy to support core brand partners, bring in new and trendy brands, as well as expand high-value customer base. Besides, by leveraging our merchandising capabilities, we expanded non-apparel product offerings to quickly address the changing consumer demand, which partially offset the sluggish demand in discretionary items. We are pleased that our proven business model enabled us to sustain a healthy level of profits. While we remain cautious amid ongoing uncertainties, we are firmly committed to our strategic positioning as a discount platform for branded products, looking to create exceptional value for both brand partners and customers.&#8221;<\/p>\n<p>Mr. <span class=\"xn-person\">David Cui<\/span>, Chief Financial Officer of Vipshop, further commented, &#8220;In the first quarter, we achieved resilient margins thanks to our initiatives to manage cost and expenses with greater discipline. Looking forward, we will continue to optimize operational efficiency and deliver healthy and sustainable profitability. Besides, we fully utilized the remaining amount under the <span class=\"xn-money\">US$500 million<\/span> share repurchase program during the first quarter, and announced another <span class=\"xn-money\">US$1 billion<\/span> program in <span class=\"xn-chron\">March 2022<\/span>. This demonstrates our confidence in our long-term business potential and value creation to our shareholders.&#8221; &nbsp;<\/p>\n<p><b>First Quarter 2022 Financial Results<\/b><\/p>\n<p><b><i>REVENUES<\/i><\/b><\/p>\n<p>Total net revenues for the first&nbsp;quarter of 2022 were <span class=\"xn-money\">RMB25.2 billion<\/span> (<span class=\"xn-money\">US$4.0 billion<\/span>), as compared with <span class=\"xn-money\">RMB28.4 billion<\/span> in the prior year period, primarily attributable to soft consumer demand for discretionary categories and adverse impact on warehousing and logistics networks caused by COVID-19 resurgence in <span class=\"xn-location\">China<\/span>.<\/p>\n<p><b><i>GROSS PROFIT<\/i><\/b><\/p>\n<p>Gross profit for the first quarter of 2022 was <span class=\"xn-money\">RMB5.0 billion<\/span> (<span class=\"xn-money\">US$790.1 million<\/span>), as compared with <span class=\"xn-money\">RMB5.6 billion<\/span> in the prior year period. Gross margin for the first quarter of 2022 increased to 19.8% from 19.7% in the prior year period.<\/p>\n<p><b><i>OPERATING EXPENSES<\/i><\/b><\/p>\n<p>Total operating expenses for the first&nbsp;quarter of 2022 decreased by 11.0% year over year to <span class=\"xn-money\">RMB3.9 billion<\/span> (<span class=\"xn-money\">US$615.1 million<\/span>) from <span class=\"xn-money\">RMB4.4 billion<\/span> in the prior year period. As a percentage of total net revenues, total operating expenses for the first&nbsp;quarter of 2022 was 15.4%, which stayed flat as compared with the prior year period.<\/p>\n<ul type=\"disc\">\n<li><b><i>Fulfillment expenses<\/i><\/b> for the first quarter of 2022 decreased by 5.5% year over year to <span class=\"xn-money\">RMB1.7 billion<\/span> (<span class=\"xn-money\">US$267.4 million<\/span>) from <span class=\"xn-money\">RMB1.8 billion<\/span> in the prior year period. As a percentage of total net revenues, fulfillment expenses for the first quarter of 2022 was 6.7%, as compared with 6.3% in the prior year period.<\/li>\n<li><b><i>Marketing expenses<\/i><\/b> for the first quarter of 2022 decreased by 41.3% year over year to <span class=\"xn-money\">RMB759.3 million<\/span> (<span class=\"xn-money\">US$119.8 million<\/span>) from <span class=\"xn-money\">RMB1.3 billion<\/span> in the prior year period, primarily attributable to more prudent marketing strategy. As a percentage of total net revenues, marketing expenses for the first quarter of 2022 decreased to 3.0% from 4.6% in the prior year period.<\/li>\n<li><b><i>Technology and content expenses <\/i><\/b>for the first quarter of 2022 increased to <span class=\"xn-money\">RMB390.4 million<\/span> (<span class=\"xn-money\">US$61.6 million<\/span>) from <span class=\"xn-money\">RMB337.5 million<\/span> in the prior year period. As a percentage of total net revenues, technology and content expenses for the first quarter of 2022 increased to 1.5% from 1.2% in the prior year period.<\/li>\n<li><b><i>General and administrative expenses <\/i><\/b>for the first quarter of 2022 were <span class=\"xn-money\">RMB1.1 billion<\/span> (<span class=\"xn-money\">US$166.4 million<\/span>), as compared with <span class=\"xn-money\">RMB956.7 million<\/span> in the prior year period. As a percentage of total net revenues, general and administrative expenses for the first quarter of 2022 was 4.2%, as compared with 3.4% in the prior year period.<\/li>\n<\/ul>\n<p><b><i>INCOME FROM OPERATIONS<\/i><\/b><\/p>\n<p>Income from operations for the first&nbsp;quarter of 2022 was <span class=\"xn-money\">RMB1.3 billion<\/span> (<span class=\"xn-money\">US$202.3 million<\/span>), as compared with <span class=\"xn-money\">RMB1.5 billion<\/span> in the prior year period. Operating margin for the first&nbsp;quarter of 2022 was 5.1%, as compared with 5.3% in the prior year period.<\/p>\n<p>Non-GAAP income from operations[5] for the first&nbsp;quarter of 2022, which excluded share-based compensation expenses and amortization of intangible assets resulting from business acquisitions, was <span class=\"xn-money\">RMB1.5 billion<\/span> (<span class=\"xn-money\">US$239.8 million<\/span>), as compared with <span class=\"xn-money\">RMB1.7 billion<\/span> in the prior year period. Non-GAAP operating margin[6] for the first&nbsp;quarter of 2022 was 6.0%, as compared with 6.1% in the prior year period.<\/p>\n<p><b><i>NET INCOME<\/i><\/b><\/p>\n<p>Net income attributable to Vipshop&#8217;s shareholders for the first&nbsp;quarter of 2022 was <span class=\"xn-money\">RMB1.1 billion<\/span> (<span class=\"xn-money\">US$172.8 million<\/span>), as compared with <span class=\"xn-money\">RMB1.5 billion<\/span> in the prior year period. Net margin attributable to Vipshop&#8217;s shareholders for the first&nbsp;quarter of 2022 was 4.3%, as compared with 5.4% in the prior year period. Net income attributable to Vipshop&#8217;s shareholders per diluted ADS[7]&nbsp;for the first&nbsp;quarter of 2022 was <span class=\"xn-money\">RMB1.61<\/span> <span class=\"xn-money\">(US$0.25)<\/span>, as compared with <span class=\"xn-money\">RMB2.18<\/span> in the prior year period.<\/p>\n<p>Non-GAAP net income attributable to Vipshop&#8217;s shareholders for the first&nbsp;quarter of 2022, which excluded (i) share-based compensation expenses, (ii) investment gain (loss) and revaluation of investments excluding dividends, (iii) reconciling items on the share of equity method investments, (iv) amortization of intangible assets resulting from business acquisitions, and (v) tax effects on non-GAAP adjustments, was <span class=\"xn-money\">RMB1.4 billion<\/span> (<span class=\"xn-money\">US$223.8 million<\/span>), as compared with <span class=\"xn-money\">RMB1.7 billion<\/span> in the prior year period. Non-GAAP net margin attributable to Vipshop&#8217;s shareholders[8]&nbsp;for the first&nbsp;quarter of 2022 was 5.6%, as compared with 6.0% in the prior year period. Non-GAAP net income attributable to Vipshop&#8217;s shareholders per diluted ADS[9]&nbsp;for the first&nbsp;quarter of 2022 was <span class=\"xn-money\">RMB2.09<\/span> <span class=\"xn-money\">(US$0.33)<\/span>, as compared with <span class=\"xn-money\">RMB2.41<\/span> in the prior year period.<\/p>\n<p>For the quarter ended <span class=\"xn-chron\">March 31, 2022<\/span>, the Company&#8217;s weighted average number of ADSs used in computing diluted income per ADS was 680,268,635.<\/p>\n<p><b><i>BALANCE SHEET AND CASH FLOW<\/i><\/b><\/p>\n<p>As of <span class=\"xn-chron\">March 31, 2022<\/span>, the Company had cash and cash equivalents and restricted cash of <span class=\"xn-money\">RMB14.3 billion<\/span> (<span class=\"xn-money\">US$2.3 billion<\/span>) and short term investments of <span class=\"xn-money\">RMB5.0 billion<\/span> (<span class=\"xn-money\">US$791.8 million<\/span>).<\/p>\n<p>For the quarter ended <span class=\"xn-chron\">March 31, 2022<\/span>, net cash used in operating activities was <span class=\"xn-money\">RMB1<\/span>.2&nbsp;billion (<span class=\"xn-money\">US$188<\/span>.7&nbsp;million), and free cash flow[10], a non-GAAP measurement of liquidity, was as follows:<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tbody readability=\"3\">\n<tr readability=\"3\">\n<td colspan=\"5\" class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">For the three months ended<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Mar 31, 2021<\/span><\/p>\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">RMB&#8217;000<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Mar 31, 2022<\/span><\/p>\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">RMB&#8217;000<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Mar 31, 2022<\/span><\/p>\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">US$&#8217;000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Net cash used in&nbsp;operating activities<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(439,020)<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1,196,285)<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(188,709)<\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Reconciling items:<\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp; Net impact from Internet financing <br \/>activities<sup>[11]<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">&nbsp;<\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\">(53,855)<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">&nbsp;<\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\">139,862<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">&nbsp;<\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\">22,063<\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp; Capital expenditures<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(733,448)<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(645,684)<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(101,854)<\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Free cash outflow<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1,226,323)<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1,702,107)<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(268,500)<\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tbody readability=\"4\">\n<tr readability=\"3\">\n<td colspan=\"5\" class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">For the trailing twelve months ended<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen4\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Mar 31, 2021<\/span><\/p>\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">RMB&#8217;000<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Mar 31, 2022<\/span><\/p>\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">RMB&#8217;000<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Mar 31, 2022<\/span><\/p>\n<p class=\"prnml4\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">US$&#8217;000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Net cash generated from&nbsp;operating activities<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">13,080,035<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,987,379<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">944,486<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Reconciling items:<\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"2\" class=\"prngen6\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;&nbsp; Net impact from Internet financing activities<sup>[11]<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(634,484)<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">104,171<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">16,433<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;&nbsp; Capital expenditures<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2,313,299)<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(3,490,880)<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(550,673)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Free cash inflow<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">10,132,252<\/span><\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,600,670<\/span><\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">410,246<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p><b>Share Repurchase Program<\/b><\/p>\n<p>As of <span class=\"xn-chron\">March 31, 2022<\/span>, the Company had fully utilized its <span class=\"xn-money\">US$500 million<\/span> share repurchase program that it announced on <span class=\"xn-chron\">March 30, 2021<\/span>, resulting in repurchases of 7,514,514 Class A ordinary shares in aggregate.<\/p>\n<p>On <span class=\"xn-chron\">March 31, 2022<\/span>, the Company&#8217;s board of directors authorized a new share repurchase program under which the Company may repurchase up to <span class=\"xn-money\">US$1 billion<\/span> of its ADSs or Class A ordinary shares for a 24-month period.&nbsp;<\/p>\n<p><b>Business Outlook<\/b><\/p>\n<p>For the second quarter of 2022, the Company expects its total net revenues to be between <span class=\"xn-money\">RMB22.2 billion<\/span> and <span class=\"xn-money\">RMB23.7 billion<\/span>, representing a year-over-year decrease rate of approximately 25% to 20%. These forecasts reflect the Company&#8217;s current and preliminary view on the market and operational conditions, which is subject to change.<\/p>\n<p><b>Exchange Rate<\/b><\/p>\n<p>The Company&#8217;s business is primarily conducted in <span class=\"xn-location\">China<\/span> and the significant majority of revenues generated are denominated in Renminbi. This announcement contains currency conversions of Renminbi amounts into U.S. dollars solely for the convenience of the reader. Unless otherwise noted, all translations from Renminbi to U.S. dollars are made at a rate of <span class=\"xn-money\">RMB6<\/span>.3393&nbsp;to <span class=\"xn-money\">US$1.00<\/span>, the effective noon buying rate on <span class=\"xn-chron\">March 31, 2022<\/span> as set forth in the H.10 statistical release of the Federal Reserve Board. No representation is made that the Renminbi amounts could have been, or could be, converted, realized or settled into U.S. dollars at that rate on <span class=\"xn-chron\">March 31, 2022<\/span>, or at any other rate.<\/p>\n<p><b>Conference Call Information<\/b><\/p>\n<p>The Company will hold a conference call on <span class=\"xn-chron\">Thursday, May 19, 2022<\/span> at <span class=\"xn-chron\">7:30 am<\/span> US Eastern Time, <span class=\"xn-chron\">7:30 pm<\/span> Beijing Time to discuss the financial results.<\/p>\n<p>All participants wishing to join the conference call must pre-register online using the link provided below. Once pre-registration has been completed, participants will receive dial-in numbers, a passcode, and a unique registrant ID via email. To join the conference, participants should use the dial-in details in the email and then enter the event passcode followed by the registrant ID.<\/p>\n<p>A replay of the conference call will be accessible until <span class=\"xn-chron\">May 26, 2022<\/span> via the following dial-in details:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n<div>\n<table id=\"convertedTable3385\" cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prngen1\">\n<tbody>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">United States Toll Free:<\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">+1-855-452-5696&nbsp;&nbsp;<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">International:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">+61-2-8199-0299&nbsp;<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Conference ID:&nbsp;&nbsp;&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">#9768591 &nbsp;<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p>A live and archived webcast of the conference call will also be available at the Company&#8217;s investor relations website at <i><a target=\"_blank\" href=\"http:\/\/ir.vip.com\/\" rel=\"nofollow noopener\">http:\/\/ir.vip.com<\/a><\/i>.&nbsp;<\/p>\n<div>\n<table id=\"convertedTable2094\" cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prngen1\">\n<tbody readability=\"37.5\">\n<tr readability=\"25.5\">\n<td class=\"prngen2\" readability=\"20\">\n<p class=\"prnml4\"><span class=\"prnews_span\">[1]&nbsp;&#8220;Gross merchandise value (GMV)&#8221;&nbsp;is defined as the total Renminbi value of all products and services sold through&nbsp;the Company&#8217;s online sales business, online marketplace&nbsp;platform, offline stores, Shan Shan Outlets and city outlets during the relevant period, including through the Company&#8217;s websites and mobile apps, third-party websites and mobile apps, Vipshop offline stores, Vipmaxx offline stores, Shan Shan Outlets and the city outlets in Hefei, Anhui province that is operated by the Company, which were fulfilled by either the Company or its third-party merchants, regardless of whether or not the goods were&nbsp;delivered or returned. GMV includes shipping charges paid by buyers to sellers. For prudent considerations, the Company does not consider products or services to be sold if the relevant orders were placed and canceled pre-shipment and only included orders that left the Company&#8217;s or other third-party vendors&#8217; warehouses.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"15\">\n<td class=\"prngen2\" readability=\"13\">\n<p class=\"prnml4\"><span class=\"prnews_span\">[2]&nbsp;Non-GAAP net income attributable to Vipshop&#8217;s shareholders is a non-GAAP financial measure, which is defined as net income attributable to Vipshop&#8217;s shareholders excluding (i) share-based compensation expenses, (ii) investment gain (loss) and revaluation of investments excluding dividends, (iii) reconciling items on the share of equity method investments, (iv) amortization of intangible assets resulting from business acquisitions, and (v) tax effects on non-GAAP adjustments. <\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"6\">\n<td class=\"prngen2\" readability=\"7\">\n<p class=\"prnml4\"><span class=\"prnews_span\">[3]&nbsp;&#8220;Active customers&#8221; is&nbsp;defined as registered members who have purchased from the Company&#8217;s online sales business&nbsp;or the Company&#8217;s online marketplace platforms at least once during the relevant period. <\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"13.5\">\n<td class=\"prngen2\" readability=\"12\">\n<p class=\"prnml4\"><span class=\"prnews_span\">[4]&nbsp;&#8220;Total orders&#8221; is&nbsp;defined as the total number of orders placed during the relevant period, including the orders for products and services sold through&nbsp;the Company&#8217;s online sales business and the Company&#8217;s online marketplace platforms&nbsp;(excluding, for the avoidance of doubt, orders from the Company&#8217;s offline stores and outlets), net of orders returned. <\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"7.5\">\n<td class=\"prngen2\" readability=\"8\">\n<p class=\"prnml4\"><span class=\"prnews_span\">[5]&nbsp;Non-GAAP income from operations is a non-GAAP financial measure, which is defined as income from operations excluding share-based compensation expenses&nbsp;and&nbsp;amortization of intangible assets resulting from business acquisitions.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"6\">\n<td class=\"prngen2\" readability=\"7\">\n<p class=\"prnml4\"><span class=\"prnews_span\">[6]&nbsp;Non-GAAP operating income margin is a non-GAAP financial measure, which is defined as non-GAAP income from operations as a percentage of total net revenues.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen2\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">[7]&nbsp;&#8220;ADS&#8221; means American depositary share, each of which represents 0.2 Class A ordinary share.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"9\">\n<td class=\"prngen2\" readability=\"9\">\n<p class=\"prnml4\"><span class=\"prnews_span\">[8]&nbsp;Non-GAAP net margin attributable to Vipshop&#8217;s shareholders is a non-GAAP financial measure, which is defined as non-GAAP net&nbsp;income attributable to Vipshop&#8217;s shareholders, as a percentage of total net revenues.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"9\">\n<td class=\"prngen2\" readability=\"9\">\n<p class=\"prnml4\"><span class=\"prnews_span\">[9]&nbsp;Non-GAAP net income attributable to Vipshop&#8217;s shareholders per diluted ADS is a non-GAAP financial measure, which is defined as non-GAAP net income attributable to Vipshop&#8217;s shareholders, divided by the weighted average number of diluted ADS outstanding for computing diluted earnings per ADS.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"9\">\n<td class=\"prngen2\" readability=\"9\">\n<p class=\"prnml4\"><span class=\"prnews_span\">[10]&nbsp;Free cash flow is a non-GAAP financial measure, which is defined as net cash from (used in) operating activities adding back the impact from Internet financing activities and less capital expenditures, which include purchase and deposits of property and equipment and land use rights.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"7.5\">\n<td class=\"prngen2\" readability=\"8\">\n<p class=\"prnml4\"><span class=\"prnews_span\">[11]&nbsp;Net impact from Internet financing activities represents net cash flow relating to the Company&#8217;s financial products, which are primarily consumer financing and supplier financing that the Company provides to its customers&nbsp;and suppliers.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p><b>About Vipshop Holdings Limited<\/b><\/p>\n<p>Vipshop Holdings Limited is a leading online discount retailer for brands in <span class=\"xn-location\">China<\/span>. Vipshop offers high quality and popular branded products to consumers throughout <span class=\"xn-location\">China<\/span> at a significant discount to retail prices. Since it was founded in <span class=\"xn-chron\">August 2008<\/span>, the Company has rapidly built a sizeable and growing base of customers and brand partners. For more information, please visit <i><a target=\"_blank\" href=\"https:\/\/ir.vip.com\/\" rel=\"nofollow noopener\">https:\/\/ir.vip.com\/<\/a>. <\/i><\/p>\n<p><b>Safe Harbor Statement<\/b><\/p>\n<p>This announcement contains forward-looking statements. These statements are made under the &#8220;safe harbor&#8221; provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as &#8220;will,&#8221; &#8220;expects,&#8221; &#8220;anticipates,&#8221; &#8220;future,&#8221; &#8220;intends,&#8221; &#8220;plans,&#8221; &#8220;believes,&#8221; &#8220;estimates&#8221; and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Vipshop&#8217;s strategic and operational plans, contain forward-looking statements. Vipshop may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Vipshop&#8217;s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Vipshop&#8217;s goals and strategies; Vipshop&#8217;s future business development, results of operations and financial condition; the expected growth of the online discount retail market in <span class=\"xn-location\">China<\/span>; Vipshop&#8217;s ability to attract customers and brand partners and further enhance its brand recognition; Vipshop&#8217;s expectations regarding demand for and market acceptance of flash sales products and services; competition in the discount retail industry; the potential impact of the COVID-19 to Vipshop&#8217;s business operations and the economy in <span class=\"xn-location\">China<\/span> and elsewhere generally; fluctuations in general economic and business conditions in <span class=\"xn-location\">China<\/span> and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Vipshop&#8217;s filings with the SEC. All information provided in this press release is as of the date of this press release, and Vipshop does not undertake any obligation to update any forward-looking statement, except as required under applicable law.<\/p>\n<p><b>Use of Non-GAAP Financial Measures<\/b><\/p>\n<p>The condensed consolidated financial information is derived from the Company&#8217;s unaudited interim condensed consolidated financial statements prepared in conformity with accounting principles generally accepted in <span class=\"xn-location\">the United States of America<\/span> (&#8220;U.S. GAAP&#8221;), except that comparative consolidated statements of income and cash flows for the period presented and detailed footnote disclosures required by Accounting Standards Codification 270, Interim Reporting (&#8220;ASC270&#8221;), have been omitted. Vipshop uses non-GAAP net income attributable to Vipshop&#8217;s shareholders, non-GAAP net income attributable to Vipshop&#8217;s shareholders per diluted ADS, non-GAAP income from operations, non-GAAP operating income margin, non-GAAP net margin attributable to Vipshop&#8217;s shareholders, and free cash flow, each of which is a non-GAAP financial measure. Non-GAAP net income attributable to Vipshop&#8217;s shareholders is net income attributable to Vipshop&#8217;s shareholders excluding (i) share-based compensation expenses, (ii) investment gain (loss) and revaluation of investments excluding dividends, (iii) reconciling items on the share of equity method investments, (iv) amortization of intangible assets resulting from business acquisitions, and (v) tax effects on non-GAAP adjustments. Non-GAAP net income attributable to Vipshop&#8217;s shareholders per diluted ADS is computed using non-GAAP net income attributable to Vipshop&#8217;s shareholders divided by weighted average number of diluted ADS outstanding for computing diluted earnings per ADS. Non-GAAP income from operations is income from operations excluding share-based compensation expenses and amortization of intangible assets resulting from business acquisitions. Non-GAAP operating income margin is non-GAAP income from operations as a percentage of total net revenues Non-GAAP net margin attributable to Vipshop&#8217;s shareholders is non-GAAP net income attributable to Vipshop&#8217;s shareholders as a percentage of total net revenues Free cash flow is net cash from operating activities adding back the impact from Internet financing activities and less capital expenditures, which include purchase and deposits of property and equipment and land use rights. Impact from Internet financing activities added back or deducted from free cash flow contains changes in the balances of financial products, which are primarily consumer financing and supplier financing that the Company provides to customers and suppliers. The Company believes that separate analysis and exclusion of the non-cash impact of (i) share-based compensation, (ii) investment gain (loss) and revaluation of investments excluding dividends, (iii) reconciling items on the share of equity method investments, (iv) amortization of intangible assets resulting from business acquisitions, and (v) tax effects on non-GAAP adjustments add clarity to the constituent parts of its performance. The Company reviews these non-GAAP financial measures together with GAAP financial measures to obtain a better understanding of its operating performance. It uses these non-GAAP financial measures for planning, forecasting and measuring results against the forecast. The Company believes that non-GAAP financial measures are useful supplemental information for investors and analysts to assess its operating performance without the effect of (i) share-based compensation expenses, (ii) investment gain (loss) and revaluation of investments excluding dividends,&nbsp; (iii) reconciling items on the share of equity method investments, (iv) amortization of intangible assets resulting from business acquisitions, and (v) tax effects on non-GAAP adjustments. Free cash flow enables the Company to assess liquidity and cash flow, taking into account the impact from Internet financing activities and the financial resources needed for the expansion of fulfillment infrastructure,technology platform and Shan Shan Outlets. Share-based compensation expenses have been and will continue to be significant recurring expenses in its business. However, the use of non-GAAP financial measures has material limitations as an analytical tool. One of the limitations of using non-GAAP financial measures is that they do not include all items that impact the Company&#8217;s net income for the period. In addition, because non-GAAP financial measures are not measured in the same manner by all companies, they may not be comparable to other similar titled measures used by other companies. One of the key limitations of free cash flow is that it does not represent the residual cash flow available for discretionary expenditures.<\/p>\n<p>The presentation of these non-GAAP financial measures is not intended to be considered in isolation from, or as a substitute for, the financial information prepared and presented in accordance with U.S. GAAP. For more information on these non-GAAP financial measures, please see the table captioned &#8220;Vipshop Holdings Limited Reconciliations of GAAP and Non-GAAP Results&#8221; at the end of this release.<\/p>\n<p><b>Investor Relations Contact<\/b><\/p>\n<p>Tel: +86 (20) 2233-0732<br \/>Email: <a target=\"_blank\" href=\"mailto:IR@vipshop.com\" rel=\"nofollow noopener\">IR@vipshop.com<\/a><\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tbody readability=\"37.5\">\n<tr readability=\"3\">\n<td colspan=\"4\" class=\"prngen14\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;Vipshop Holdings Limited&nbsp;<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td colspan=\"4\" class=\"prngen14\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;Unaudited Condensed Consolidated Statements of Income and Comprehensive Income&nbsp;&nbsp;<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td colspan=\"4\" class=\"prngen14\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;(In thousands, except for share and per share data)&nbsp;<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" class=\"prngen3\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen4\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Three Months Ended<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen15\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;March 31,2021&nbsp;<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;March 31,2022&nbsp;<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;March 31,2022&nbsp;<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen14\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>RMB&#8217;000<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>RMB&#8217;000<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;USD&#8217;000&nbsp;<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Product revenues&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">27,221,752<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">23,926,432<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3,774,302<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other revenues (1)<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,176,745<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,318,086<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">207,923<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Total net revenues&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">28,398,497<\/span><\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">25,244,518<\/span><\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3,982,225<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Cost of revenues&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(22,803,674)<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(20,236,053)<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(3,192,159)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Gross profit&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,594,823<\/span><\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,008,465<\/span><\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">790,066<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Operating expenses:&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Fulfillment expenses (2)&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1,793,138)<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1,694,943)<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(267,371)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Marketing expenses&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1,294,068)<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(759,275)<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(119,773)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Technology and content expenses&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(337,516)<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(390,371)<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(61,580)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;General and administrative expenses&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(956,688)<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1,054,714)<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(166,377)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Total operating expenses&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(4,381,410)<\/span><\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(3,899,303)<\/span><\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(615,101)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Other operating income&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">298,000<\/span><\/p>\n<\/td>\n<td class=\"prnsbtbl prnrbrb1 prnvab prnsbbs prntar prnpl6 prnsblb1 prnpr8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">173,452<\/span><\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">27,361<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Income from operations&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,511,413<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,282,614<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">202,326<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Investment gain(loss) and revaluation of investments&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">97,936<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(34,458)<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(5,436)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Interest expense&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(3,696)<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(4,735)<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(747)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Interest income&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">153,424<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">199,694<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">31,501<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Exchange gain(loss)&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">30,950<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(12,182)<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1,922)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Income before income tax expense and share of income (loss)&nbsp; of equity <br \/>method investees&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,790,027<\/span><\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,430,933<\/span><\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">225,722<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Income tax expenses&nbsp;&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(306,959)<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(291,843)<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(46,037)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Share of income (loss) of equity method investees&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">64,642<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(43,006)<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(6,784)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Net income&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,547,710<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,096,084<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">172,901<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Net income attributable to non-controlling interests&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2,240)<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(421)<\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(66)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Net income attributable to Vipshop&#8217;s shareholders&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,545,470<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,095,663<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">172,835<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Shares used in calculating earnings per share (3):&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Weighted average number of Class A and Class B ordinary shares:&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;\u2014Basic&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">136,459,216<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">135,256,731<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">135,256,731<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;\u2014Diluted&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">141,842,600<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">136,053,727<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">136,053,727<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Net earnings per Class A and Class B ordinary share&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Net income attributable to Vipshop&#8217;s shareholders\u2014\u2014Basic&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">11.33<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">8.10<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.28<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Net income attributable to Vipshop&#8217;s shareholders\u2014\u2014Diluted&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">10.90<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">8.05<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.27<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Net earnings per ADS (1 ordinary share equals to 5 ADSs)&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Net income attributable to Vipshop&#8217;s shareholders\u2014\u2014Basic&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.27<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.62<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.26<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Net income attributable to Vipshop&#8217;s shareholders\u2014\u2014Diluted&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.18<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.61<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.25<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" class=\"prnsbt1 prnsbr1 prnvab prnsbb1 prntal prnpl6 prnsbl1 prnpr8\"><\/td>\n<\/tr>\n<tr readability=\"13.5\">\n<td colspan=\"4\" class=\"prngen16\" readability=\"12\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><i>(1) Other revenues primarily consist of product promotion and online advertising revenues, lease income mainly earned from the Shan Shan <br \/>Outlets ,fees charged to third-party merchants which the Company provides platform access for sales of their products, revenue from third-party <br \/>logistics services, loan facilitation service income and membership fee income.<\/i><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"12\">\n<td colspan=\"4\" class=\"prngen16\" readability=\"11\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><i>&nbsp;(2) Fulfillment expenses include shipping and handling expenses, which amounted RMB&nbsp; 1.2 billion and RMB 1.2 billion&nbsp; in the three month <br \/>periods ended March 31,2021 and March 31,2022, respectively.&nbsp;<\/i><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"7.5\">\n<td colspan=\"4\" class=\"prngen16\" readability=\"8\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><i>(3) Authorized share capital is re-classified and re-designated into Class A ordinary shares and Class B ordinary shares, with each Class A <br \/>ordinary share being entitled to one vote and each Class B ordinary share being entitled to ten votes on all matters that are subject to shareholder <br \/>vote.<\/i><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen4\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Three Months Ended<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen15\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;March 31,2021&nbsp;<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;March 31,2022&nbsp;<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;March 31,2022&nbsp;<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen14\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>RMB&#8217;000<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;RMB&#8217;000&nbsp;<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;USD&#8217;000&nbsp;<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Share-based compensation expenses are included in the operating <br \/>expenses as follows:&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Fulfillment expenses&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">19,750<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">18,267<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,882<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Marketing expenses&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4,289<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,365<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">373<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Technology and content expenses&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">52,581<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">55,207<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">8,709<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;General and administrative expenses&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">143,517<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">161,832<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">25,528<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Total&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">220,137<\/span><\/p>\n<\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">237,671<\/span><\/p>\n<\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">37,492<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tbody readability=\"50.5\">\n<tr readability=\"3\">\n<td colspan=\"4\" class=\"prngen14\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;Vipshop Holdings Limited&nbsp;<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td colspan=\"4\" class=\"prngen14\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;Unaudited Condensed Consolidated Balance Sheets&nbsp;<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td colspan=\"4\" class=\"prngen14\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;(In thousands, except for share and per share data)&nbsp;<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen15\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;December 31,2021&nbsp;<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;March 31,2022&nbsp;<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;March 31,2022&nbsp;<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen14\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>RMB&#8217;000<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;RMB&#8217;000&nbsp;<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;USD&#8217;000&nbsp;<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>ASSETS<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">CURRENT ASSETS<\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Cash and cash equivalents<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">16,297,410<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">13,648,072<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,152,930<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Restricted cash&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">873,859<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">657,137<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">103,661<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Short term investments<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,381,618<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,019,373<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">791,787<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Accounts receivable, net<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">459,128<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">419,134<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">66,117<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen2\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Amounts due from related parties,net<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">637,825<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">660,629<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">104,212<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen2\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other receivables and prepayments,net<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,326,866<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,500,967<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">394,518<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Loan receivables,net<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">131<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">99<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">16<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Inventories<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6,865,108<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,236,163<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">825,984<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total current assets<\/span><\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">32,841,945<\/span><\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">28,141,574<\/span><\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4,439,225<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">NON-CURRENT ASSETS<\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen2\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Property and equipment, net<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">14,376,712<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">14,713,745<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,321,036<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Deposits for property and equipment<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">382,121<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">182,622<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">28,808<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Land use rights, net<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6,612,165<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6,581,020<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,038,130<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Intangible assets, net<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">320,943<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">339,474<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">53,551<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Investment in equity method investees<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,476,868<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,583,150<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">407,482<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other investments<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,482,911<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,271,554<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">358,329<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Other long-term assets<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">296,366<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">63,613<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">10,035<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Goodwill<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">589,165<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">589,165<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">92,939<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Deferred tax assets, net<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">760,023<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">723,062<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">114,060<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen16\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Operating lease right-of-use assets<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,148,322<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">886,171<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">139,790<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total non-current assets<\/span><\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">29,445,596<\/span><\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">28,933,576<\/span><\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4,564,160<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>TOTAL ASSETS<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">62,287,541<\/span><\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">57,075,150<\/span><\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9,003,385<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;LIABILTIES AND&nbsp; EQUITY&nbsp;&nbsp;<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;CURRENT LIABILITIES&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Short term loans&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,975,184<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,928,968<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">304,287<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Accounts payable&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">13,144,935<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">10,303,527<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,625,341<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Advance from customers&nbsp;&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,828,781<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,329,602<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">209,740<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Accrued expenses and other current liabilities&nbsp;&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7,658,677<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6,497,100<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,024,892<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Amounts due to related parties&nbsp;&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">429,088<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">353,489<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">55,761<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Deferred income&nbsp;&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">449,693<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">399,735<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">63,057<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Operating lease liabilities&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">284,659<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">268,012<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">42,278<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen16\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total current liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">25,771,017<\/span><\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">21,080,433<\/span><\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3,325,356<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;NON-CURRENT LIABILITIES&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Deferred tax liability&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">437,202<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">427,065<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">67,368<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen16\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Deferred income-non current&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,026,155<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,025,383<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">161,750<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Operating lease liabilities&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">952,813<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">709,601<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">111,937<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Other long term liabilities&nbsp;&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">272,038<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total non-current liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,688,208<\/span><\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,162,049<\/span><\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">341,055<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>TOTAL LIABILITIES<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">28,459,225<\/span><\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">23,242,482<\/span><\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3,666,411<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>EQUITY:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr readability=\"30\">\n<td class=\"prngen2\" readability=\"23\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Class A ordinary shares (US$0.0001 par value, 483,489,642 shares<br \/>authorized,122,975,885 and 123,170,036 shares issued,of which<br \/>120,232,895 and 115,655,522 shares were outstanding as of December <br \/>31,2021 and March 31,2022, respectively)&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">80<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">80<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">13<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"21\">\n<td class=\"prngen2\" readability=\"17\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Class B ordinary shares (US$0.0001 par value, 16,510,358 shares <br \/>authorized, and 15,560,358 and 15,560,358 shares issued and outstanding <br \/>as of December 31, 2021 and March 31,2022, respectively)&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">11<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">11<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"16.5\">\n<td class=\"prngen2\" readability=\"14\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Treasury shares,at cost(2,742,990 and 7,514,514 Class A shares as of <br \/>December 31, 2021 and March 31,2022, respectively )<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1,927,719)<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(3,187,776)<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(502,859)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Additional paid-in capital<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">12,227,637<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">12,417,179<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,958,762<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Retained earnings<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">22,421,488<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">23,517,152<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3,709,740<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Accumulated other comprehensive loss<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(88,599)<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(90,001)<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(14,197)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen16\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Non-controlling interests<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,195,418<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,176,023<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">185,513<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen16\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Total shareholders&#8217; equity<\/span><\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">33,828,316<\/span><\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">33,832,668<\/span><\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,336,974<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>TOTAL LIABILITIES AND SHAREHOLDERS&#8217; EQUITY&nbsp;<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">62,287,541<\/span><\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">57,075,150<\/span><\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9,003,385<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tbody readability=\"22.5\">\n<tr readability=\"3\">\n<td colspan=\"4\" class=\"prngen14\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;Vipshop Holdings Limited&nbsp;&nbsp;<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td colspan=\"4\" class=\"prngen14\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;Reconciliations of GAAP and Non-GAAP Results&nbsp;<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td colspan=\"3\" class=\"prngen4\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Three Months Ended<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen15\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;March 31,2021&nbsp;<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;March 31,2022&nbsp;<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;March 31,2022&nbsp;<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen14\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>RMB&#8217;000<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;RMB&#8217;000&nbsp;<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>&nbsp;USD&#8217;000&nbsp;<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Income from operations&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,511,413<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,282,614<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">202,326<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Share-based compensation expenses&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">220,137<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">237,671<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">37,492<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Amortization of intangible assets resulting from business acquisitions&nbsp;&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,896<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Non-GAAP income from operations&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,737,446<\/span><\/p>\n<\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,520,285<\/span><\/p>\n<\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">239,818<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Net income attributable to Vipshop&#8217;s shareholders&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,545,470<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,095,663<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">172,835<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Share-based compensation expenses&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">220,137<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">237,671<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">37,492<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Investment gain (loss) and revaluation of investments excluding dividends&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(54,111)<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">35,735<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,637<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Reconciling items on the share of equity method investments(4)&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(9,972)<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">51,514<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">8,126<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Amortization of intangible assets resulting from business acquisitions&nbsp;&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,896<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Tax effects on non-GAAP adjustments&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,273<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1,757)<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(277)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Non-GAAP net income attributable to Vipshop&#8217;s shareholders&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,712,693<\/span><\/p>\n<\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,418,826<\/span><\/p>\n<\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">223,813<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td colspan=\"4\" class=\"prngen16\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><i>(4) To exclude the GAAP to non-GAAP reconciling items relating to investment gain(loss) and evaluation of investments on the share of equity <br \/>method investments.<\/i><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Shares used in calculating earnings per share:&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Weighted average number of Class A and Class B ordinary shares:&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;\u2014Basic&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">136,459,216<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">135,256,731<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">135,256,731<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;\u2014Diluted&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">141,842,600<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">136,053,727<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">136,053,727<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Non-GAAP net income per Class A and Class B ordinary share&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Non-GAAP net income attributable to Vipshop&#8217;s shareholders\u2014\u2014Basic&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">12.55<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">10.49<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.65<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Non-GAAP net income attributable to Vipshop&#8217;s shareholders\u2014\u2014Diluted&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">12.07<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">10.43<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1.65<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Non-GAAP net income per ADS (1 ordinary share equal to 5 ADSs)&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Non-GAAP net income attributable to Vipshop&#8217;s shareholders\u2014\u2014Basic&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.51<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.10<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.33<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&nbsp;Non-GAAP net income attributable to Vipshop&#8217;s shareholders\u2014\u2014Diluted&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.41<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2.09<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.33<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p id=\"PURL\"><img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN63077&amp;sd=2022-05-19\"> View original content:<a id=\"PRNURL\" rel=\"nofollow noopener\" href=\"https:\/\/www.prnewswire.com\/news-releases\/vipshop-reports-unaudited-first-quarter-2022-financial-results-301550996.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/vipshop-reports-unaudited-first-quarter-2022-financial-results-301550996.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Conference Call to Be Held at 7:30 A.M. U.S. Eastern Time on May 19, 2022 GUANGZHOU, China, May 19, 2022 \/PRNewswire\/ &#8212;&nbsp;Vipshop Holdings Limited (NYSE: VIPS), a leading online discount retailer for brands in China (&#8220;Vipshop&#8221; or the &#8220;Company&#8221;), today announced its unaudited financial results for the quarter ended March 31, 2022. First Quarter 2022 [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":9630,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-9629","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Vipshop Reports Unaudited First Quarter 2022 Financial Results - My Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/transmediavictoria.net.au\/?p=9629\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vipshop Reports Unaudited First Quarter 2022 Financial Results - My Blog\" \/>\n<meta property=\"og:description\" content=\"Conference Call to Be Held at 7:30 A.M. U.S. Eastern Time on May 19, 2022 GUANGZHOU, China, May 19, 2022 \/PRNewswire\/ &#8212;&nbsp;Vipshop Holdings Limited (NYSE: VIPS), a leading online discount retailer for brands in China (&#8220;Vipshop&#8221; or the &#8220;Company&#8221;), today announced its unaudited financial results for the quarter ended March 31, 2022. 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U.S. Eastern Time on May 19, 2022 GUANGZHOU, China, May 19, 2022 \/PRNewswire\/ &#8212;&nbsp;Vipshop Holdings Limited (NYSE: VIPS), a leading online discount retailer for brands in China (&#8220;Vipshop&#8221; or the &#8220;Company&#8221;), today announced its unaudited financial results for the quarter ended March 31, 2022. First Quarter 2022 [&hellip;]","og_url":"https:\/\/transmediavictoria.net.au\/?p=9629","og_site_name":"My Blog","article_published_time":"2022-05-19T09:00:00+00:00","og_image":[{"width":16,"height":16,"url":"https:\/\/transmediavictoria.net.au\/wp-content\/uploads\/2022\/05\/vipshop-reports-unaudited-first-quarter-2022-financial-results.png","type":"image\/png"}],"author":"admin_tony","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin_tony","Est. reading time":"21 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/transmediavictoria.net.au\/?p=9629#article","isPartOf":{"@id":"https:\/\/transmediavictoria.net.au\/?p=9629"},"author":{"name":"admin_tony","@id":"https:\/\/transmediavictoria.net.au\/#\/schema\/person\/5b51d407d652c0aa802bea269ea5d7e7"},"headline":"Vipshop Reports Unaudited First Quarter 2022 Financial Results","datePublished":"2022-05-19T09:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/transmediavictoria.net.au\/?p=9629"},"wordCount":4236,"image":{"@id":"https:\/\/transmediavictoria.net.au\/?p=9629#primaryimage"},"thumbnailUrl":"https:\/\/transmediavictoria.net.au\/wp-content\/uploads\/2022\/05\/vipshop-reports-unaudited-first-quarter-2022-financial-results.png","articleSection":["Business News"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/transmediavictoria.net.au\/?p=9629","url":"https:\/\/transmediavictoria.net.au\/?p=9629","name":"Vipshop Reports Unaudited First Quarter 2022 Financial Results - 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