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Vipshop Reports Unaudited Second Quarter 2026 Financial Results
- 508603.SS
- VIPS
Conference Call to Be Held at 7:30 A.M. U.S. Eastern Time on August 25, 2026
GUANGZHOU, China, Aug. 25, 2026 /PRNewswire/ — Vipshop Holdings Limited (NYSE: VIPS), a leading off-price retailer in China (“Vipshop” or the “Company”), today announced its unaudited financial results for the quarter ended June 30, 2026.
Second Quarter 2026 Highlights
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Total net revenues for the second quarter of 2026 were RMB24.7 billion (US$3.6 billion), compared with RMB25.8 billion in the prior year period.
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GMV[1] for the second quarter of 2026 was RMB50.6 billion, compared with RMB51.4 billion in the prior year period.
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Gross profit for the second quarter of 2026 was RMB5.8 billion (US$848.1 million), compared with RMB6.1 billion in the prior year period.
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Net income attributable to Vipshop’s shareholders for the second quarter of 2026 increased by 189.1% year over year to RMB4.3 billion (US$634.7 million) from RMB1.5 billion in the prior year period, primarily due to a one-off investment gain of RMB5.79 billion from the listing of a commercial REIT.
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Non-GAAP net income attributable to Vipshop’s shareholders[2] for the second quarter of 2026 was RMB392.2 million (US$57.8 million), compared with RMB2.1 billion in the prior year period, primarily due to a one-time withholding tax adjustment relating to certain historical dividend distributions.
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The number of active customers[3] for the second quarter of 2026 was 42.3 million, compared with 43.5 million in the prior year period.
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Total orders[4] for the second quarter of 2026 were 182.4 million, compared with 193.0 million in the prior year period.
Mr. Eric Shen, Chairman and Chief Executive Officer of Vipshop, stated, “We navigated a challenging consumer environment in the second quarter by staying disciplined to our core value proposition — offering a curated selection of high-value branded products to our most loyal customers. The solid performance of our active SVIPs validated the enduring strength of our business model. Leveraging our proven foundation, we are actively strengthening our competitive moat by sharpening merchandising, elevating customer experience, and scaling AI across our operations. These focused initiatives position us firmly for sustainable, long-term growth.”
Mr. Mark Wang, Chief Financial Officer of Vipshop, further commented, “In the second quarter, our top-line performance stayed within our guided range, reflecting disciplined execution amid subdued consumer demand. We maintained a steadfast focus on margin health, which helped preserve operating profitability. During the first half, we returned approximately US$400 million to shareholders through dividends and share repurchases, and we remain on track to meet our full-year shareholder return target. Supported by solid operating fundamentals and strong cash generation to reinvest strategically, we are confident in our path toward profitable, long-term growth.”
