In 2019, the total GMV of Baozun e-commerce increased by 50% to 44.41 billion yuan.
Before the U.S. stock market on March 18, Baozun E-Commerce (NASDAQ: BZUN) released the fourth quarter and full-year financial report as of December 31, 2019. Baozun E-commerce was established in early 2007. Its main business is to provide one-stop business solutions with brand e-commerce as its core.
According to the financial report, Baozun’s e-commerce revenue in the fourth quarter was 2.784 billion yuan, a year-on-year increase of 26.4%, which was 34 million yuan higher than the company’s upper limit of results guidance announced last quarter. Baozun E-commerce’s full-year revenue in 2019 was 7.28 billion yuan, an increase of 35% year-on-year, and its revenue reached a new high of nearly four years.
In the fourth quarter, Baozun’s net profit attributable to ordinary shareholders was 141 million yuan, a year-on-year decrease of 25.1%. On October 29, 2019, a fire broke out in Baozun’s third-party warehouse in Shanghai, and the losses caused were included in the fourth quarter. According to the financial report, the incident caused a one-time loss of 45.5 million yuan, which is lower than Baozun. E-commerce loss estimates of 53 million yuan given by the end of last year.
The fire incident also slowed down the annual net profit growth. For the full year of 2019, the net profit attributable to shareholders of Baozun E-commerce common stock was 280 million yuan, an increase of 4.3% year-on-year.
In the fourth quarter, Baozun E-commerce GMV reached 17.771 billion yuan, an increase of 48% year-on-year. The Double Eleven E-commerce Festival activities directly promoted the company’s GMV growth this quarter. According to “Economic Observation Network” previously reported, as of the early morning of November 12, 2019, the double-eleven Baozun e-commerce turnover in 2019 reached 10.06 billion yuan, a 53.6% increase compared to last year.
Specifically, Baozun’s e-commerce distribution GMV this quarter was 1.448 billion yuan, a year-on-year increase of 29.5%; non-distribution GMV was 16.332 billion yuan, a year-on-year increase of 49.5%. The biggest difference between the two business models is that under the distribution model, the company has the pricing rights for goods and products. Under the non-distribution model, the company only provides basic services such as IT and store operations for brands, does not own goods, and cannot interfere with pricing. In the past two years, Baozun E-commerce has been making efforts to transform and expand its non-distribution model business. So far, it has been effective.
In 2019, the total GMV of Baozun e-commerce increased by 50% to 44.41 billion yuan. In addition, As of December 31, 2019, the number of Baozun e-commerce cooperative brands has increased to 231, with a net increase of 46 in the year.
The Baozun e-commerce company said that due to the uncertainty of the development of the new crown epidemic, the company expects 20Net revenue in the first quarter of 20 was between 1.4 billion and 1.45 billion yuan, a year-on-year increase of 9% to 13%.
（ If there is no special note, the currency unit in the text is “RMB” )