Vipshop's 2024 Q1 Report Revenue, Profit, GMV and More

TapTechNews May 22nd news, Vipshop released its first quarter 2024 financial report today and stated that it will repurchase $500 million worth of stocks by the end of 2024.

Net revenue of 27.6 billion yuan, a 0.4% year-on-year increase.

Non-GAAP net profit of 2.6 billion yuan, a 25% year-on-year increase.

GMV (gross merchandise value) is 52.4 billion yuan, an 8% year-on-year increase.

The number of active super VIP (SVIP) users increased by 11% year-on-year.

It is introduced that since April 2021, Vipshop has cumulatively returned more than $2.2 billion to shareholders through stock repurchases and dividends.

TapTechNews also noticed:

In 2024 Q1, the GMV of Vipshop's wearable goods achieved double-digit growth.

The number of active SVIP users increased by 11% year-on-year, contributing about 45% of online consumption.

The total amount of photovoltaic power generation of Vipshop exceeded 10,000 megawatt-hours, and nearly 6,500 megawatt-hours of green power was used.

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