Baozun, Inc. · NASDAQ:BZUN
Baozun — Q1 2024 Earnings Presentation
16 slides from Baozun's earnings presentation, May 28, 2024
Slide 1: 1Q 2024 Earnings Presentation
1Q 2024 Earnings Presentation May 28, 2024
Slide 2: Disclaimer
Disclaimer This presentation does not constitute an offer to sell or issue or solicitation of an offer to buy or acquire securities of Baozun Inc. (the “Company”) in any jurisdiction or an inducement to enter into investment activity, nor may it or any part of it form the basis of or be relied on in
Slide 3: 1Q24 Financial Highlights
1Q24 Financial Highlights Non-GAAP Operating Non-GAAP Net Income / Operating Revenue Income / (Loss) (1) (Loss) to Shareholders(2) Cash Flow(3) Improvement of RMB 2.0 bn RMB (18) mn RMB (15) mn + 129 mn YoY BEC achieved first-time Q1 positive cash flow since 2019 (1) Non-GAAP income (loss) from oper
Slide 4: Revenue Breakdown
Revenue Breakdown Total Net Revenues (1) Net Revenue Breakdown by Segment (2) RMB mn RMB mn 1,984 1,888 1,980 2,000 1,984 1,888 1,980 189 314 1,500 Product 1,000 1,984 Sales 38% 1,699 1,666 500 - 1Q2022 1Q2023 1Q2024 1Q2022 1Q2023 1Q2024 E-commerce Revenue Brand Management Revenue Total Net Revenues
Slide 5: Gross Profit and Gross Profit Margin of Product Sales
Gross Profit and Gross Profit Margin of Product Sales Gross Profit and Gross Profit Margin of Baozun Group Product Sales Gross Profit Margin of E-Commerce Product Sales RMB mn 300 35% 31% 14% 13% 12% 30% 250 220 24% 25% 200 161 20% 1Q2022 1Q2023 1Q2024 150 15% Gross Profit Margin of Brand Management
Slide 6: Non-GAAP Operating Profit Breakdown
Non-GAAP Operating Profit Breakdown Baozun Group E-Commerce Brand Management (1) Non-GAAP Operating Profit for Group Adjusted Operating Profit for E-Commerce Adjusted Operating Profit for Brand Management RMB mn RMB mn RMB mn 25 25.2 15 11.8 4.7 4.7 5 1Q2023 1Q2024 1Q2022 1Q2023 1Q2024 -5 -9.7 -15 -
Slide 7: Cash Flow Breakdown
Cash Flow Breakdown 700 500Operating Cash Flow for Baozun Group 650Free Cash flow for Baozun Group 450 RMB mn 300RMB mn 250 100 50 -100 -79 -150 -108 -300 -207 -350 -260 -500 -550 -700 -546 -750 -609 1Q2022 1Q2023 1Q2024 1Q2022 1Q2023 1Q2024 Cash Flow Walk Due to seasonality of e-commerce business,
Slide 8: Promoting Sustainable Development
Promoting Sustainable Development Released FY2023 Annual 28% Carbon Emission Reduction Sustainability Report Compared with 2021 Baseline CDP Climate Questionnaire Score Improved from C to B 7
Slide 9: E-Commerce Key Achievements in 1Q24
E-Commerce Key Achievements in 1Q24 E-Commerce Revenue(1) YoY Growth 30% E-Commerce Revenue Breakdown YoY Growth 0% 20% Product Sales Services 10% 4% -2% -5% -3% -3% 0% -6% -10% -6% -10% -10% -9% -20% -13% -17% -17% -12% -30% -23% -15% -14% -30% -40% -20% -50% 1Q23 2Q23 3Q23 4Q23 1Q24 1Q23 2Q23 3Q23
Slide 10: Brand Management Key Achievements
Brand Management Key Achievements Enriching “China-for-China” Products Kids & Baby Products Functional Product IP Collaboration UV Protection Series Detachable Work Pants Scuba Series Chinese New Year Series IP Collaboration GAP x 8ON8 GAP x PALACE 9
Slide 11: Q&A
Q&A 10
Slide 12: Appendix
Appendix 11
Slide 13: Selected Consolidated Statements of Income
Selected Consolidated Statements of Income For the year ended For the three months ended December 31, March 31, in RMB '000 2021 2022 2023 2023 2024 Product sales 3,873,589 2,644,214 3,357,202 666,069 707,524 Services 5,522,667 5,756,417 5,454,811 1,221,727 1,272,246 Total net revenues 9,396,256 8,4
Slide 14: Reconciliations of GAAP and non-GAAP Financial Measures
Reconciliations of GAAP and non-GAAP Financial Measures For the year ended For the three months December 31, ended March 31, In RMB ’000 2021 2022 2023 2023 2024 Income (loss) from operations 7,021 33,287 (206,380) (40,629) (54,780) Add: Share-based compensation expenses 196,547 142,381 103,449 20,1
Slide 15: Selected Consolidated Balance Sheet Data
Selected Consolidated Balance Sheet Data For the year ended For the three months December 31, ended March 31, in RMB '000 2021 2022 2023 2023 2024 ASSETS Cash and cash equivalents 4,606,545 2,144,020 2,149,531 1,545,800 1,946,648 Restricted cash 93,219 101,704 202,764 50,443 352,777 Short-term inves
Slide 16: Thank You
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