Baozun Posts Strong Revenue, Doubled Profit; Stock Rises 2%
The stock of Baozun Inc. (Nasdaq: BZUN) was trading up more than 2 percent intraday Wednesday after the company posted doubled income and strong revenue for the first quarter.
The Shanghai-based company, a provider of e-commerce services, said a statement today that its revenue in the three months through March reached $191.7 million, up 40 percent from a year ago.
Net income, Baozun said, was $5.1 million, or 8 cents per share, up 128 percent from a year ago.
In response to the report, shares in the company gained 90 cents, trading at $38.90 in the afternoon.
"I'm pleased to announce a strong start to the year where our investments in developing innovative and disruptive technology are paving the way for us to lead the industry into the next phase of the e-commerce revolution," Vincent Qiu, the chairman and chief executive officer of Baozun, said in the report.
He added, "One of our strategic goals this year is to focus on high-quality growth as we begin to benefit from the additional capacity and expanded addressable market, that our powerful tools and highly-targeted digital marketing solutions are creating."
Baozun said its gross merchandise volume in the first quarter reached 7.8 billion yuan, up 58 percent year-over-year. As of March 31, it had 200 brand partners and 192 GMV brand partners.
In the second quarter, the company said it expects to generate revenue in the range of 1.55 billion and 1.6 billion yuan, representing an increase of between 34 and 38 percent from the same period last year.