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BZUN on Nasdaq

Baozun Inc.

In its 2026 annual report (Form 20-F) the company says: “We, Baozun Inc., are an exempted company incorporated under the laws of the Cayman Islands on December 17, 2013. We are a holding company and operate our business through our consolidated subsidiaries, our VIE and its subsidiaries.”5 It is headquartered in Shanghai, China.2 Its shares trade on Nasdaq under the symbol BZUN.2

Price unavailable

Last updated Oct 21, 2026.

Overview

$1.4BRevenue, fiscal 20253
-$34.6MNet income, fiscal 20253

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  • TickerBZUN on Nasdaq2
  • IndustryRetail-Catalog & Mail-Order Houses2
  • HeadquartersShanghai, China2
  • Incorporated inCayman Islands4
  • Business addressNo. 1-9, Lane 510, West Jiangchang Road, Jing'An District, Shanghai, F4 2004364
  • Filer categoryAccelerated filer4
  • Legal formcompany limited by shares2
  • LEI549300IF0HZ7T47626332
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O Vistra (Cayman) Limited, KY1-1205 George Town, Cayman Islands2
  • Registered withGeneral Registry, NS-2836372

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We, Baozun Inc., are an exempted company incorporated under the laws of the Cayman Islands on December 17, 2013. We changed our holding company’s name from Baozun Cayman Inc. to Baozun Inc. in March 2015.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

0.6%Operating margin3
-2.4%Net margin3
10.2%Revenue growth, 20253
-6.6%Return on equity3
$44.9MFree cash flow3

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Digital Marketing and IT Solutions brought in 37% of the revenue Baozun Inc. broke down this way in fiscal 2025.

  1. Digital Marketing and IT Solutions2.3B CNY337%up 9% from 2024
  2. Warehousing and Fulfillment2.1B CNY333%down 6% from 2024
  3. Online Store Operations1.9B CNY331%up 8% from 2024
Products and services by year
Products and services202320242025
Digital Marketing and IT Solutions1.7B CNY2.1B CNY2.3B CNY
Warehousing and Fulfillment2.2B CNY2.2B CNY2.1B CNY
Online Store Operations1.6B CNY1.8B CNY1.9B CNY

Business segments

E commerce brought in 82% of the revenue Baozun Inc. broke down this way in fiscal 2025.

  1. E commerce8.3B CNY382%up 2% from 2024
  2. Brand Management1.8B CNY318%up 25% from 2024
Business segments by year
Business segments202320242025
E commerce7.6B CNY8.1B CNY8.3B CNY
Brand Management1.3B CNY1.5B CNY1.8B CNY

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue26¢$368.4M
  • Other costs74¢$1.1B
  • Income tax0¢$1.4M

Out of $1.4B in revenue.3 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending25¢$15.2M
  • Dividends paid5¢$3.2M
  • Share buybacks2¢$1.5M
  • Kept or used elsewhere67¢$40.3M

Out of $60.1M of cash from operations.3

Financial statements

Revenue67891011123$1.4B in 2025+81% since 2018
0$500.0M$1.0B$1.5B2018: $784.4M$784.4M20182019: $1.0B$1.0B2019+33%2020: $1.4B$1.4B2020+30%2021: $1.5B$1.5B2021+9%2022: $1.2B$1.2B2022−17%2023: $1.2B$1.2B2023+2%2024: $1.3B$1.3B2024+4%2025: $1.4B$1.4B2025+10%
Operating income67891011123$8.1M in 2025−84% since 2018
-$50.0M0$50.0M$100.0M2018: $51.7M$51.7M20182019: $55.1M$55.1M2019+7%2020: $85.6M$85.6M2020+55%2021: $1.1M$1.1M2021−99%2022: $4.8M$4.8M2022+338%2023: -$29.1M-$29.1M20232024: -$15.7M-$15.7M2024−46%2025: $8.1M$8.1M2025
Net income67891011123-$34.6M in 2025
-$100.0M-$50.0M0$50.0M$100.0M2018: $39.2M$39.2M20182019: $40.5M$40.5M2019+3%2020: $65.4M$65.4M2020+61%2021: -$32.3M-$32.3M20212022: -$94.7M-$94.7M2022+193%2023: -$39.2M-$39.2M2023−59%2024: -$25.4M-$25.4M2024−35%2025: -$34.6M-$34.6M2025+36%

Every line of the income statement as filed: the last 3 fiscal years, latest first.3

Period ending2025-12-312024-12-312023-12-31
Net revenues9.9B CNY9.4B CNY8.8B CNY
Cost of products-2.6B CNY-2.5B CNY-2.4B CNY
Fulfillment-2.3B CNY-2.5B CNY-2.5B CNY
Sales and marketing-3.8B CNY-3.4B CNY-2.8B CNY
Technology and content-463.2M CNY-550.3M CNY-505.2M CNY
General and administrative-751.6M CNY-719.2M CNY-855.9M CNY
Other operating income, net77.3M CNY55.4M CNY123.4M CNY
Impairment of goodwill-18.4M CNY-6.9M CNY-35.2M CNY
Total operating expenses-9.9B CNY-9.5B CNY-9.0B CNY
(Loss) Income from operations56.6M CNY-114.8M CNY-206.4M CNY
Interest income58.6M CNY68.8M CNY82.1M CNY
Interest expense-44.6M CNY-39.0M CNY-41.3M CNY
Unrealized investment (loss) gain-16.6M CNY4.9M CNY-68.0M CNY
Gain on disposal of investments562.0K CNY
Gain (loss) on disposal/acquisition of subsidiaries-36.3M CNY0 CNY631.0K CNY
Impairment loss of investments-213.4M CNY-14.4M CNY0 CNY
Exchange loss-3.7M CNY-10.2M CNY-8.5M CNY
Fair value change on financial instruments-1.9M CNY11.8M CNY24.5M CNY
Loss before income tax and share of income (loss) in equity method investments-200.8M CNY-93.0M CNY-217.0M CNY
Income tax expense-9.9M CNY-20.7M CNY-12.0M CNY
Share of income (loss) in equity method investments11.1M CNY-24.7M CNY6.3M CNY
Net loss-199.6M CNY-138.4M CNY-222.8M CNY
Net (income) loss attributable to non-controlling interests-23.4M CNY2.0M CNY-9.7M CNY
Net income attributable to redeemable non-controlling interests-19.1M CNY-48.8M CNY-46.0M CNY
Net loss attributable to ordinary shareholders of Baozun Inc.-242.1M CNY-185.2M CNY-278.4M CNY
Basic (in dollars per share)-1.40 CNY-1.03 CNY-1.56 CNY
Diluted (in dollars per share)-1.40 CNY-1.03 CNY-1.56 CNY
Basic (in dollars per share)-4 CNY-3 CNY-5 CNY
Diluted (in dollars per share)-4 CNY-3 CNY-5 CNY

Compare Baozun Inc. with another company

Corporate structure

Baozun Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Baozun Inc.

  • Jesvinco Holdings Ltd Filed SCHEDULE 13G/A on Baozun Inc., latest Feb 12, 2026 (6 filings since Feb 11, 2022)
  • Alibaba Group Filed SC 13G/A on Baozun Inc., latest May 31, 2024
  • Champion Kerry Inc. Filed SC 13D on Baozun Inc., latest May 30, 2024
  • Junhua Wu Filed SC 13G on Baozun Inc., latest Feb 13, 2023
  • Federated Hermes Filed SC 13G/A on Baozun Inc., latest Apr 11, 2022 (2 filings since Feb 14, 2022)
  • SOFTBANK GROUP CORP. Filed SC 13G/A on Baozun Inc., latest Feb 14, 2022
  • FIL Ltd Filed SC 13G/A on Baozun Inc., latest Feb 9, 2022
  • Baozun Inc. Shanghai, China

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Baozun Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation1.5B CNY3 Dec 31, 20251.6B CNY3 Dec 31, 2024−3.7%
Accumulated depreciation759.9M CNY3 Dec 31, 2025755.1M CNY3 Dec 31, 2024+0.6%
Property and equipment, net$108.5M3 Dec 31, 2025$112.6M12 Dec 31, 2024−3.7%
Operating-lease assets (leased space)$93.2M3 Dec 31, 2025$105.1M12 Dec 31, 2024−11.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$129.7M3 Dec 31, 2025$176.6M12 Dec 31, 2024−26.5%
Marketable securities, current$249.8M3 Dec 31, 2025$174.2M12 Dec 31, 2024+43.4%
Stakes in other companies (equity method)129.7M CNY3 Dec 31, 2025136.1M CNY3 Dec 31, 2024−4.7%
Long-term investments$46.8M12 Dec 31, 2024

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$39.2M3 Dec 31, 2025$49.6M12 Dec 31, 2024−21.0%
Accumulated amortization401.8M CNY3 Dec 31, 2025358.9M CNY3 Dec 31, 2024+11.9%
Finite-lived intangibles, net$46.2M3 Dec 31, 2025$49.0M12 Dec 31, 2024−5.7%

Inventory

ItemLatestA year beforeChange
Inventory, total$125.8M3 Dec 31, 2025$153.1M12 Dec 31, 2024−17.9%
Finished goods876.3M CNY3 Dec 31, 20251.1B CNY3 Dec 31, 2024−21.4%

Leadership

Who has led Baozun Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Wenbin Qiu2026–now
Board members and other officers (4)

Former names

  • Baozun Cayman Inc.Dec 18, 2014 to Mar 5, 20154

Timeline

  1. Mar 17, 2026New chief executive Wenbin Qiu becomes CEO13

Calendar

Coming up

  1. Nov 24, 2026Reports results for the quarter ending Sep/202617

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

322 filings to the SEC since October 2021: 5 annual reports, 48 insider forms, 13 large holders, 256 other. The latest 20:

  1. Oct 14, 20264 OWNERSHIP DOCUMENT EDGAR
  2. Oct 9, 20266-K EDGAR
  3. Oct 2, 20266-K EDGAR
  4. Sep 24, 20266-K EDGAR
  5. Sep 22, 20264 OWNERSHIP DOCUMENT EDGAR
  6. Sep 18, 20264 OWNERSHIP DOCUMENT EDGAR
  7. Sep 17, 20266-K EDGAR
  8. Sep 17, 20264 OWNERSHIP DOCUMENT EDGAR
  9. Sep 16, 20264 OWNERSHIP DOCUMENT EDGAR
  10. Sep 4, 20264 OWNERSHIP DOCUMENT EDGAR
  11. Sep 3, 20266-K EDGAR
  12. Sep 1, 20264 OWNERSHIP DOCUMENT EDGAR
  13. Sep 1, 20264 OWNERSHIP DOCUMENT EDGAR
  14. Aug 28, 20266-K EDGAR
  15. Aug 27, 20266-K EDGAR
  16. Aug 13, 20266-K EDGAR
  17. Aug 5, 20266-K EDGAR
  18. Jul 10, 2026S-8 EDGAR
  19. Jul 6, 20266-K EDGAR
  20. Jul 2, 20264 OWNERSHIP DOCUMENT EDGAR

The 322 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

47 open-market trades by officers, directors and large owners since October 2021: 47 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 21, 2026Qiu WenbinChief Executive OfficerBuy6,900$2.85$19.7KForm 4
Sep 18, 2026Qiu WenbinChief Executive OfficerBuy7,000$2.88$20.2KForm 4
Sep 17, 2026Qiu WenbinChief Executive OfficerBuy7,100$2.84$20.2KForm 4
Sep 16, 2026Qiu WenbinChief Executive OfficerBuy7,300$2.74$20.0KForm 4
Sep 15, 2026Wu JunhuaChief Strategy OfficerBuy13,900$2.73$37.9KForm 4
Sep 15, 2026Qiu WenbinChief Executive OfficerBuy7,300$2.72$19.9KForm 4
Sep 14, 2026Qiu WenbinChief Executive OfficerBuy7,300$2.74$20.0KForm 4
Sep 2, 2026Wu JunhuaChief Strategy OfficerBuy13,500$2.85$38.5KForm 4
Jun 24, 2026Wu JunhuaChief Strategy OfficerBuy29,000$2.85$82.7KForm 4
Jun 22, 2026Qiu WenbinChief Executive OfficerBuy10,000$2.81$28.1KForm 4
Jun 18, 2026Qiu WenbinChief Executive OfficerBuy10,000$2.77$27.7KForm 4
Jun 17, 2026Qiu WenbinChief Executive OfficerBuy10,000$2.83$28.3KForm 4
Jun 17, 2026Wu JunhuaChief Strategy OfficerBuy18,500$2.84$52.5KForm 4
Jun 16, 2026Qiu WenbinChief Executive OfficerBuy10,000$2.72$27.2KForm 4
Jun 15, 2026Qiu WenbinChief Executive OfficerBuy10,000$2.79$27.9KForm 4
Jun 12, 2026Qiu WenbinChief Executive OfficerBuy10,000$2.72$27.2KForm 4
Jun 11, 2026Qiu WenbinChief Executive OfficerBuy10,000$2.67$26.7KForm 4
Jun 11, 2026Wu JunhuaChief Strategy OfficerBuy18,000$2.69$48.4KForm 4
Jun 10, 2026Qiu WenbinChief Executive OfficerBuy10,000$2.64$26.4KForm 4
Jun 9, 2026Qiu WenbinChief Executive OfficerBuy10,000$2.72$27.2KForm 4

All 47 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 68. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Schroder Investment Management Group2,414,558$6.9M0.0%No change
Two Sigma Investments, LP1,114,919$3.2M0.0%+151,404
Arrowstreet Capital, Limited Partnership890,508$2.5M0.0%+511,736
Marshall Wace, Llp780,391$2.2M0.0%+231,976
Dimensional Fund Advisors LP568,534$1.6M0.0%−25,135
Morgan Stanley526,315$1.5M0.0%−7,695
Citadel Advisors LLC499,047$1.4M0.0%+387,103
First Beijing Investment Ltd432,828$1.2M0.1%−11,500
AIA Group Ltd399,018$1.1M0.0%No change
D. E. Shaw & Co., Inc.313,347$886.8K0.0%+43,856
American Century Companies Inc256,300$725.3K0.0%New
Jpmorgan Chase & Co194,536$554.4K0.0%+9,454
Renaissance Technologies LLC193,516$547.6K0.0%−2,500
Susquehanna International Group, Llp181,190$512.8K0.0%−36,763
Jane Street Group, LLC161,850$458.0K0.0%−27,002
Millennium Management LLC159,664$451.8K0.0%+77,633
Goldman Sachs Group Inc154,544$437.4K0.0%+126,222
Qube Research & Technologies Ltd130,688$369.8K0.0%−64,908
Marex Group Ltd119,224$337.4K0.0%No change
XTX Topco Ltd104,400$295.5K0.0%−8,135
UBS Group AG102,511$290.1K0.0%−52,580
Commonwealth Of Pennsylvania Public School Empls Retrmt Sys92,523$261.8K0.0%No change
Centiva Capital, LP85,084$240.8K0.0%+53,444
Group One Trading LLC46,466$131.5K0.0%−28,034
Cetera Investment Advisers44,048$124.7K0.0%+5,810

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Baozun Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARBaozun Inc.1
  • CIK0001625414
  • Filer statusAccelerated filer not an emerging growth company; not a shell company5
  • Incorporated inCayman Islands5
  • Fiscal year endsDecember 311
  • Industry code (SIC)5961 Retail-Catalog & Mail-Order Houses1
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
  • Business addressNo. 1-9, Lane 510, West Jiangchang Road, Jing'An District, Shanghai, F4 2004361
  • Phone(86-21) 608099911
  • Shares outstanding174,316,616 Common Stock shares; 161,015,878 Common Class A shares; 13,300,738 Common Class B shares as of Dec 31, 20255
  • AuditorKPMG Huazhen LLP, Shanghai, China PCAOB ID 1186; it also attests to the company’s internal control over financial reporting5
  • On EDGAR sinceDec 18, 20141
  • Filings468 in all: 6-K (298), 4 (39), SC 13G/A (28), CORRESP (12), 20-F (11), SC 13G (11), UPLOAD (10), S-8 (9)1
    All 33 form types

    3 (8), 424B5 (4), F-1/A (4), FWP (4), 144 (3), DRSLTR (3), EFFECT (3), 424B4 (2), DRS/A (2), SCHEDULE 13G/A (2), 20-F/A (1), 3/A (1), 8-A12B (1), CERTNAS (1), DRS (1), F-1 (1), F-3 (1), F-3/A (1), F-3ASR (1), F-6 (1), F-6 POS (1), F-6EF (1), SC 13D (1), SC TO-I (1), SC TO-I/A (1)

  • Latest filingsAnnual report (20-F) Apr 23, 2026

Securities registered for trading

ClassSymbolExchange
American Depositary Shares, each representingthree Class A Ordinary Shares, par valueUS$0.0001 per shareBZUNThe Nasdaq Stock Market LLC

From the cover page of the 20-F filed Apr 23, 2026 (Section 12(b) of the Exchange Act).5

Sources

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